Case Study of Human Resources In Business Example | Topics and Well Written Essays - 500 words

Of Human Resources In Business - Case Study Example E.g., The few issue of help, political issues, turnaround time, and so on. The formality a comfortable idea manages a bigger association. Less huge organizations are very likely going to be slanted towards less arranged variables, for example, absence of continue, spending premonition or absence of financial plan, deficient assets, no understandable subsidizing to take ventures. An extra component nearly and consistently distinguished in the littler organizations will be complication. A gathering of that tail from be insufficient in of strategy for instance, is the a decent employing (HR) method set up Often not, and that way new staff may not be as efficiently examined and very much fit to the task or affiliation. accordingly, income could be raised. As a matter of fact, there can be ascend in the natural variables without trouble. By examining the niche and corner of an association (or imagine a one of a kind circumstance). assume what inconveniences will be looked in another condition, and watch the equivalent with the conclusive outcomes. Outside assets have been utilized in this structure to represent what customarily are named as providers, merchants, partners and joint-adventures, just as open associations, tyrant sheets, limited networks, and so on they are utilized to offer items or administrations important to accomplish a given errand for the association. The outer condition is â€Å"Conditions, substances, occasions, and factors encompassing an association which impact its exercises and decisions, and decide its chances and dangers. Likewise called working environment.† (External condition, n.d). Arrangement of outside assets has a more extensive viewpoint of the flexibly chain, along with the relations that assets may have which are not transparently related to gracefully the merchandise to the association. For the most part, observing of outer assets on the organization was finished by the entirety of assets spent by buying of the item and by distinguishing the cost

Probability of a Small Straight in Yahtzee in One Roll

Likelihood of a Small Straight in Yahtzee in One Roll Yahtzee is a shakers game that utilizes five standard six-sided dice. On each turn, players are given three moves to acquire a few distinct goals. After each roll, a player may choose which of the shakers (assuming any) are to be held and which are to be rerolled. The targets incorporate a wide range of sorts of blends, a considerable lot of which are taken from poker. Each unique sort of mix merits an alternate measure of focuses. Two of the sorts of mixes that players must roll are called straights: a little straight and an enormous straight. Like poker straights, these blends comprise of consecutive bones. Little straights utilize four of the five shakers and enormous straights utilize each of the five bones. Because of the irregularity of the moving of shakers, the likelihood can be utilized to break down the fact that it is so liable to roll a little straight in a solitary roll. Presumptions We accept that the bones utilized are reasonable and free of each other. Along these lines there is a uniform example space comprising of every conceivable move of the five bones. Despite the fact that Yahtzee permits three moves, for straightforwardness we will just consider the case that we get a little straight in a solitary roll. Test Space Since we are working with a uniform example space, the computation of our likelihood turns into an estimation of several including issues. The likelihood of a little straight is the quantity of approaches to roll a little straight, partitioned by the quantity of results in the example space. It is anything but difficult to include the quantity of results in the example space. We are moving five bones and every one of these shakers can have one of six distinct results. A fundamental use of the increase standard discloses to us that the example space has 6 x 6 x 6 x 6 x 6 65 7776 results. This number will be the denominator of the portions that we use for our likelihood. Number of Straights Next, we have to know what number of ways there are to roll a little straight. This is more troublesome than computing the size of the example space. We start by checking what number of straights are conceivable. A little straight is simpler to move than a huge straight, be that as it may, it is more diligently to check the quantity of methods of moving this kind of straight. A little straight comprises of precisely four successive numbers. Since there are six distinct appearances of the pass on, there are three potential little straights: {1, 2, 3, 4}, {2, 3, 4, 5} and {3, 4, 5, 6}. The trouble emerges in thinking about what occurs with the fifth pass on. In every one of these cases, the fifth pass on must be a number that doesn't make an enormous straight. For instance, if the initial four shakers were 1, 2, 3, and 4, the fifth kick the bucket could be something besides 5. In the event that the fifth pass on was a 5, at that point we would have an enormous straight as opposed to a little straight. This implies there are five potential rolls that give the little straight {1, 2, 3, 4}, five potential rolls that give the little straight {3, 4, 5, 6} and four potential rolls that give the little straight {2, 3, 4, 5}. This last case is diverse on the grounds that rolling a 1 or a 6 for the fifth kick the bucket will change {2, 3, 4, 5} into an enormous straight. This implies there are 14 unique ways that five shakers can give us a little straight. Presently we decide the diverse number of approaches to roll a specific arrangement of shakers that give us a straight. Since we just need to know what number of ways there are to do this, we can utilize some fundamental tallying methods. Of the 14 particular approaches to acquire little straights, just two of these {1,2,3,4,6} and {1,3,4,5,6} are sets with unmistakable components. There are 5! 120 different ways to roll each for a sum of 2 x 5! 240 little straights. The other 12 different ways to have a little straight are actually multisets as they all contain a rehashed component. For one specific multiset, for example, [1,1,2,3,4], we will tally the number od various approaches to move this. Think about the shakers as five situations in succession: There are C(5,2) 10 different ways to situate the two rehashed components among the five dice.There are 3! 6 different ways to organize the three particular components. By the increase standard, there are 6 x 10 60 unique approaches to roll the bones 1,1,2,3,4 of every a solitary roll. There are 60 different ways to move one such little honest with this specific fifth bite the dust. Since there are 12 multisets giving an alternate posting of five bones, there are 60 x 12 720 different ways to roll a little straight in which two shakers coordinate. Altogether there are 2 x 5! 12 x 60 960 different ways to roll a little straight. Likelihood Presently the likelihood of rolling a little straight is a straightforward division count. Since there are 960 unique approaches to roll a little straight in a solitary roll and there are 7776 moves of five bones conceivable, the likelihood of rolling a little straight is 960/7776, which is near 1/8 and 12.3%. Obviously, it is almost certainly that the principal roll is anything but a straight. If so, at that point we are permitted two additional moves making a little straight considerably more likely. The likelihood of this is significantly more convoluted to decide in light of the entirety of the potential circumstances that would should be thought of.

Selecting Topics For Evaluation Essay

Selecting Topics For Evaluation EssayMany people have difficulty coming up with topics for evaluation essay writing. A lot of writers may try to write about events or topics that they are familiar with, but often a writer with no experience will come up with a topic for evaluation essay that is completely foreign. This means that you need to be very careful in the research that you do when you are researching topics for evaluation essay writing.Some topics for evaluation essay may have a good understanding of the subject matter, but a student might not know what to write about. A good way to approach topics for evaluation essay is to take a look at what a specific teacher said about the subject matter. The lesson plan will indicate what subjects and topics the teacher finds interesting. Ask friends if they know anyone who would like to volunteer to participate in your research.The topics for assessment essay will be crucial because the teacher has told you to think about how you will present your ideas to a group of students. If you are using an evaluation process that involves group discussion and feedback, then make sure that you can cover all areas of the subject that the teacher suggests. Any topic that is left open or vague will make it difficult for the teacher to evaluate your writing skills.When you are selecting topics for evaluation essay, make sure that the topic will fit with the learning style of the student. Do not choose topics that will be too general. Try to choose topics that are focused on one area of the subject.If you choose a more specific topic, it will mean that you have more knowledge about the subject and will therefore be able to cover a larger subject. However, if you pick a less specific topic, then you are likely to leave the door open for another topic that will be even more general. In order to avoid this, make sure that you choose a topic that is going to be specific and needs more description.After you have made a list of topic s for evaluation essay, it is important to discuss with the teacher and teachers that you have contact with to see what their suggestions are. If the teachers do not have any suggestions, then it is time to go ahead and research the topic yourself. When you find out what topics work best for you, you will know exactly what to write about.Once you have a list of topics for evaluation essay, and the teacher's suggestions have been considered, you should now be prepared to write the essay. Make sure that you have all the information ready so that you can explain to the readers why you chose the topic that you did. You can use this opportunity to test your essay and to get feedback from the reader.

European Imperialism in Africa Essays - 1457 Words

Imperialism By the late 19th and early 20th century, Europe was expanding its borders. In an attempt to grow its economy and culture, Europe’s superpowers began to search for new soil. Africa was an easy target; it wasn’t politically secure and it wasn’t modernized. In addition, it had reliable soil which would enable Europe to produce cash crops. European nations began to pour into Africa, called the Scramble for Africa. Soon, Europe took control of Africa, taking raw materials and destroyed African culture. Imperialism is the one to blame for exploitation of people and materials, the destruction of traditional culture, and unnaturally dividing up the land which causes a bunch of problems down the road. There is no doubt that imperialism†¦show more content†¦Only the landowners, merchants, and businessmen from the colonial powers gained from Egypt’s loss. Not only were the only ones who it is obvious that the agriculture and economic change in Egypt was only good for the â€Å"Businessmen from the colonial powers, Egyptian landowners, and local merchants profited from these agricultural changes.† iii In addition Egyptian’s loss, Europe began to take coastal land from Africa. Coastal land was a big enterprise for the colonial powers; it provided a stopping port for ships that were traveling to China and Eastern Asia. Setting up ports along the African coast increased the trade between Europe and Asia, so European powers demanded and obtained a large portion of African costal land. Also, in 1870 diamonds were being discovered in the cape of Africa. The British owned a colony in Cape Town, which was their biggest trade hub for India and Eastern Asia. With a big trade system close, the British began to hundreds of miles of land north of Cape Town. Their goal was to claim land which had diamonds. They were extremely successful. As the diamond trade began, Britain had staked a large portion of the land which held diamonds, mak ing the diamonds belong to them. This too is a great example of imperialism exploiting the country for their land, and in Egypt’s cases their raw materials. Through imperialism, the superior white race set up a new culture in Africa. This new shift in cultural paradigm destroyed the natural andShow MoreRelatedEuropean Imperialism in Africa Essays1518 Words   |  7 Pagescontrol of regions in Africa and set up colonies there. In the beginning, colonization caused the Africans little harm, but before long, the Europeans started to take complete control of wherever they went. The Europeans used their advanced knowledge and technology to easily maneuver through the vast African landscape and used advanced weapons to take control of the African people and their land. The countries that claimed the most land and had the most significant effect on Africa were France, EnglandRead MoreEuropean Imperialism in Africa Essay1405 Words   |  6 Pages1800’s, was starting for a land grab in the African continent. Around 1878, most of Africa was unexplored, but by 1914, most of Africa, with the lucky exception of Liberia and Ethiopia, was carv ed up between European powers. There were countless motivations that spurred the European powers to carve Africa, like economical, political, and socio–cultural, and there were countless attitudes towards this expansion into Africa, some of approval and some of condemnation. Europe in this period was a worldRead MoreEssay on Africa vs European Imperialism841 Words   |  4 PagesDBQ: Imperialism In AfricaAzra Azvar Period 3 2/21/10 Whites vs Blacks In the late 19th and early 20th centuries European imperialism caused its countries to divide up the rest of the world, each country claiming bits as its own. Due to its large amounts of resources, Africa was one of the main areas European nations invaded in the cause if imperialism. In Africa, there were positive and negative effects towards the Africans and the invaders. Some positive effects on Africans were thatRead MoreEuropean Imperialism And The Colonization Of Africa984 Words   |  4 PagesAmongst the 1870s and 1900, Africa confronted European imperialist hostility, political pressures, military assaults, and ultimately the conquest and colonization. At the same time, African civilizations put up numerous methods of resistance against the effort to inhabit their countries and enforce foreign control. By the early twentieth century, however, much of Africa, except Ethiopia and Liberia, had been inhabited by European powers. The European imperialist drive into Africa was en couraged by threeRead MoreEuropean Imperialism in Late 19th Century Africa1624 Words   |  7 Pages European Imperialism in Late 19th Century Africa: African Response and Effects Rafael Delatorre History 002B Professor Standish April 12, 2014 Between 1870 and 1914, European countries ceased about ninety percent of Africa. Native Africans faced political, military, and imperialism pressure from various European countries. After the end of the profitable slave trade in Africa, due to abolishing of slavery, Europeans explored forRead MoreThe Impact of 19th Century European Imperialism in Africa1024 Words   |  5 PagesEuropean Imperialism heavily impacted the African continent through culturally, economic, and political ideas. This era of history is heavily drenched in the aspect of ethnocentrism, which is the belief that one’s own culture is superior that of another. The Europeans colonized Africa believing that they could bring civilization, but they were often ignorant of Africa’s very complex societies. The European powers divided up the continent of Africa among themselves, without any consent from the peopleRead MoreThe Effects of European Imperialism on South Africa Essay1847 Words   |  8 PagesThe county of South Africa is an economically flourishing country and probably the most advanced country on the continent of Africa. However the entire continent of Africa is probably the most undeveloped part of the world. Why is South Africa so different from the rest of its continent? Karen Politis Virk explains that it is because of South Africa’s developed economy and diverse population (Virk 40). South Africa has three main ethnic groups: African, Afrikaners, and the mixed race. The AfrikanersRead MoreWinds of Change: European Imperialism in Africa Essay1091 Words   |  5 Pagesby aliens, they were invaded by foreigners. They were invaded by Christian missionaries from England. The natives did not believe the stories of their neighboring village being destroyed and suffered the consequences. When British imperialism found its way into Africa it had quite profound effects on the indigenous populations such as deterioration of ancient tribal practices, hostile situations, and death and suffering on both sides. In the village of Umuofia, located near the lower Niger RiverRead More Migration and Disease in Africa during European Imperialism Essay735 Words   |  3 PagesThe Relationship between Migration and Disease in Africa during European Imperialism During the era of European Imperialism, from approximately 1880 to 1930, an increasing number of Europeans began to colonize West Africa. Because of this colonization many African natives migrated eastward, inadvertently transporting diseases to which the East Africans were not immune (Ransford 76). This phenomenon can be explained through examining the implications of geographical isolation, theRead MoreWhat Was the Driving Force Behind European Imperialism in Africa628 Words   |  3 PagesAndres Lugo Professor William Hendricks March 17, 2015 World Civilizations II Domination of resources The European powers that were in much need for resources during the 1500s through 1800s were Great Britain, France and Germany. During 1500 and 1800 Africa seemed like an impossible feat to conquer because of malaria but this wouldn’t stop the persistence of the leaders of France and Great Britain. The idea of exploring and conquering new land meant more to these leaders because of the motivation

Machiavelli And Shakespeare Essay - 1097 Words

Machiavelli and Shakespeare reveal similar underlying views on authority and leadership however they provide different perspectives due to their form, context and purpose. Niccolo Machiavelli’s laudatory treatise The Prince (1515) was written in a turbulent Renaissance Italy after the return of the De’ Medici’s as an attempt to regain political power. Machiavelli reveals his perspective on authority and leadership by advocating the appearance of virtue and necessary cruelty as a means of maintaining power. William Shakespeare’s tragedy Julius Caesar (1599) differs his perspective on authority and leadership due to his Elizabethan audience yet reveals similar attitudes. Through a dramatic representation it is revealed that manipulation and†¦show more content†¦The Prince presents this understanding in his handbook for Lorenzo de’ Medici yet Shakespeare presents his perspective in a dramatic representation. Shakespeare reveals a similar notion to Machiavelli in relation to authority and leadership through the character of Antony. Antony uses a similar strategy to Machiavelli and Borgia by effectively manipulating Brutus and the plebeians for his own benefit. Shakespeare set Julius Caesar in Ancient Rome to portray the concerns prevalent in Elizabethan England. This era consisted of a patriarchal hierarchy which created the opportunistic man and ability to take greed, similar to what Antony embodies. After Caesar’s death Antony possesses the role of the true Machiavel through his appearance of virtue. Antony differs to Machiavelli’s attitude as he explores this value through revenge motives. Antony manipulates the conspirators through the physical action of â€Å"first, Marcus Brutus, I will shake with you†. This is symbolic as it aligns Antony with Brutus thus initiating his manipulative nature. Antony’s funeral speech highlights the appearance of virtue to m anipulate the plebeians due to his position of authority. The use of repotia in â€Å"but Brutus says he was ambitious, And Brutus is an honourable man† illustrates the manipulation and raises doubt in the crowd’s mind. Antony is able to weaken Brutus’ argument and eventually thisShow MoreRelated Shakespeare on Machiavelli: The Prince in Richard III Essay1491 Words   |  6 PagesShakespeare on Machiavelli:   The Prince in Richard III   Ã‚  Ã‚   According to many, Shakespeare intentionally portrays Richard III in ways that would have the world hail him as the ultimate Machiavel.   This build up only serves to further the dramatic irony when Richard falls from his throne.   The nature of Richards character is key to discovering the commentary Shakespeare is delivering on the nature of tyrants.   By setting up Richard to be seen as the ultimate Machiavel, only to have himRead MoreMachiavelli ´s Principle in Macbeth by William Shakespeare Essay1648 Words   |  7 PagesTHESIS STATEMENT Macbeth, by William Shakespeare, applies the Machiavellian principles of how princes should properly conduct themselves which is directly applied through Duncan, Macbeth, Lady Macbeth, and Malcolm. PURPOSE STATMENT Through analytic research, this paper will examine, as well as, compare and contrast the Machiavellian principles to the characters in Macbeth. The focus will include the influence of his principles, how they affect the characters, behaviors, and if they fit the descriptionRead MoreThe Prince vs. Henry V Essay1032 Words   |  5 Pagesbegins to notice similarities between the authors’ idea of what a â€Å"perfect king† should be. The patterns between the ideal ruler of Shakespeare and the ideal ruler of Machiavelli can be seen in numerous instances throughout this story. For the duration of this essay, I will compare the similarities in both pieces to give the reader a better understanding of how Shakespeare devised his view of what a â€Å"perfect king† should be. One can see an example while looking back on Henry’s youthful experiencesRead MoreSummary Of The Prince During The 1500 S1622 Words   |  7 Pagescharacterized as a being who is corrupt, devious, and deceptive. Machiavelli is considered to be all of the above. He and Iago both believe in striving for their goals and having a strong ambition for greatness, which in retrospect, sounds like a good trait to have. However, characters that are true Machiavellian’s believe that the end justifies the mean, making them the worst kind of villain. Nicolà ² Machiavelli was most famous for writing the essay The Prince during the 1500’s, which emphasized the needRead MoreEssay Iago as the Hero of Shakespeares Othello1290 Words   |  6 PagesIago as the Hero of Othello      Ã‚  Ã‚   A Shakespearean play always includes a typical villain character. He is boisterous, egotistical, sometimes witty, and all too eager to seek revenge. In William Shakespeare Othello, Iago is the well-liked, trusted, and brave ensign of the great Venetian general Othello, or so it appears. Iago actually possesses all of the typical villainous qualities, however Iago conducts himself with great composure, and by manipulating his counterparts, he makes people believeRead MoreA Brief Note On Indian Poetry After Islam Essay1435 Words   |  6 PagesPetrarch believed that humanity could once more reach the heights of past accomplishments. The doctrine he espoused became known as humanism, and formed a bridge from the Middle Ages to the Renaissance. Machiavelli, The Prince: The Prince began with an address to Lorenzo de Medici, in which Machiavelli was explaining that he is seeking favor with the prince. He had planned to do so by offering him some of his knowledge. He then proceeded to classify the various kinds of states. Republics, hereditaryRead MoreKing Richard Iii and Looking for Richard Essay Plan1162 Words   |  5 PagesESSAY PLAN!!!!!!!!! Intro * Both Shakespeare’s Richard III and Al Pacino’s Looking for Richard both portray central values and ideas of the time. * The texts ideas are reflected by the context of the time. * Both texts written in different time periods meaning completely different contexts which shape the text. * Through Pacino’s hybrid style docudrama, he attempts to demystify Shakespeare’s Richard III, making it more accessible to the everyday person. * Shakespeare shows theRead MoreKing Richard Iii and Looking for Richard Essay1602 Words   |  7 PagesEssay 1 – King Richard III and Looking for Richard How has your study of the connections between King Richard III and Looking for Richard deepened your understanding of the context of and values within, each text? William Shakespeare’s play King Richard III and Al Pacino’s docu-drama Looking for Richard have enriched my understanding of how context shapes the values inscribed within each text. In light of this, the connection that exists between the two texts is: how the central character of theRead MoreJulius Caesar by William Shakespeare2100 Words   |  9 PagesIn the play Julius Caesar by William Shakespeare, Mark Antony is depicted as a better leader than Brutus, due to his cunning use of rhetoric when addressing the plebeians after Caesar’s death. This essay will be divided into two sections to explore the ways in which Antony is depicted as better leader. The First section will contextualise the extracts used for analysis, and compare Brutus’s pedestrian speech with Mark Antony’s impressive oratory. This will be done by defining what rhetoric is, andRead MoreRenaissance: Impact on English Literature1723 Words   |  7 Pageslevel: power, ambition, lo ve, death, and so on. The language of the characters is recognizably the same as they speak. From Kings to ordinary soldiers, from young lovers to old bawds, Shakespeares characters speak modern English. 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Current Developments in Accounting Thought

Question: Discuss about the Current Developments in Accounting Thought. Answer: Introduction: The overall study mainly helps in depicting the accounting issues that is currently being faced by BBY Ltd an Australian stock broking corporation. In addition, the novice effectively evaluates and portrays the issues related to accounting that is faced by the company. Furthermore, the study also helps in depicting the related accounting theories, which was misused by the company. In addition, the novice effectively depicts the related news about BBY Ltd, which is been presented in Sep 23rd of 2016 in the Sydney Morning Herald. Furthermore, the news is decoded effectively to understand the relevant issues of accounting that is conducted by the company, which led to the collapse. The novice effectively depicts the news article with the help of different type of accounting theories, which might in turn depict the violation conducted by the company. Decoding the relevant news: The news mainly states the court hearing, which is been faced by the company for the unethical practices conducted in their operations. In addition, the news mainly stated the plea of Mr Rosewall who is the main person responsible for making the relevant decisions in BBY Ltd (Whitbourn, 2016). Moreover, as per the article Mr. Rosewall mainly relied in the information and suggestion that was presented by Ms Rottinger. This misled information gathering mainly declined the overall profitability of the company during 2014, when the AQA transaction was conducted. In addition, the investment that was been conducted by the company mainly came from the information that was been depicted by Mr Maharaj. Furthermore, the investment opinion was mainly taken from the Sydney psychic, which drastically affected the profitability of the company and increased its debt in ASX. Moreover, the news also related to $61 million, which is been owned to the creditors by the company. In addition, the news effectively depicted that Mr Rosewall has taken many decisions on the information provided by Mr Maharaj. In addition, the company effectively relied on the information budget and share price movement that was been predicted by Mr Maharaj. Furthermore, the increased reliance of Mr Rosewall in making significant trades mainly on the basis of a person has mainly violated the Capital Market research Theory, which is been depicted in the positive predictive accounting approach. Moreover, the related news also depicted the methods that is been violated by BBY Ltd for conducting their business operations. Furthermore, the news also clarified that the company was not responsible in making relative decision for appointing an independent director, which could monitor the operations of the company. Mr Rosewall mainly stated that due to the fear of losing their strategic advantage the company mainly refused to indulge in any type of independent directors in their operations. However, after the overall losses it has been discovered that due to the shady operations conducted by the company there was no initiation for appointing an independent director. This non-accumulation of an independent director mainly violates the rule set by AASB and IFRS. Furthermore, the news depicted that KPMG mentioned that the company was insolvent in early 2011 and used clients accounts to pay its expenses. In addition, it was also reported in the news that Mr Rosewall also pitched in $1.86 million of his own money, which was gathered from superannuation fund. Moreover, the company has been conducting wrong valuation and violating the AASB rules for projecting the money of its clients. Depicting the accounting theory related to the news article: Positive accounting theory: In addition, BBY Ltd has firstly violated the positive accounting theory, which resulted in the insolvency of the company during 2011. In addition, the news also stated that the company has been insolvent during 2011, which only indicates that the positive accounting practise was not effectively followed. Furthermore, the company did not effectively depict the behaviour of accountant as the accountants were violating the rules laid down by AASBN and IFRS. Bebbington, Unerman O'Dwyer (2014) stated that positive accounting theory mainly help companies to effectively conduct operations based in Efficient Market Hypothesis (EMH). On the other hand, other researcher mainly criticises that EMH mainly loses its friction during an economic crises. In addition, the company has violated the positive accounting theory by depicting wrong valuation of the company to its reflective shareholders. Moreover, the future projection conducted by the company after 2011 also violated the basic principles of positive accounting theory for presenting the adequate financial projection of the company (Bonin, 2013). Stakeholder Theory: In addition, BBY Ltd as the company mainly violates the ethical and organisation management also violate the stakeholder theory. Furthermore, BBY Ltd mainly violated the stakeholder theory by not conducting the adequate ethical measures in reporting the management decisions to its stakeholders. In addition, the company mainly violated the stakeholder theory by conducting unethical investment transactions and trades after losing profits (Bonner et al., 2013). Furthermore, as per the stakeholders theory the company is effectively violating the major rules, which might only depicted the unethical practices conducted by the management. Some of the researchers mainly stated the effective depiction of stakeholders theory that mainly helps the company to maintain the ethical operations in their organisation and reduce any fines implemented from authorities. Furthermore, the stakeholders theory also helps in reducing the unethical process, which might reduce profitability of the company. In addition, if the company effectively maintains the stakeholder theory in their management then it could effectively reduce any types of unethical measure, which might decrease trust of its investors. Some of the researcher mainly stated that effective use of stakeholder theory mainly help in improving the trust and demand of shares among potential investors. On the contrary, other researchers stated that companies are manly reluctant in sharing their internal strategy in fear of decreasing their competitive edge against its peers (Bryer, 2013). Capital Market research Theory: In addition, the company also violated the basic accounting rules, which mainly states to conduct effective capital market research before any kind of investment. Some of the researchers mainly states that the effective uses of capital market mainly help investment companies to make adequate investment options, which might in turn help in reducing the risk and increasing return from investment. However, other researchers mainly contradicted by saying that during an economic crisis the increased risks from investment might mainly reduce the ability to make adequate return from investment. In addition, BBY Ltd did not conduct any specific research before conducting the investment, which resulted to the loss in income (Freeman et al., 2014). In addition, the company mainly relied on the prediction from one person and did not conduct any type of actual research before conducting the investment in AQA transaction. Furthermore, the company made loss due to the wrong depiction of different types of tradition conducted by the company. Furthermore, BBT Ltd mainly conducted transaction from 2011 to 2014 based on predictions conducted only by Mr Maharaj. Researchers mainly depicted that some of the companies mainly conducts investment, which might help in reducing the risk from investment. Valuation methods: In addition, the valuation mainly conducts different types of theories, as if historical cost, current cost accounting, and continues contemporary amounting. Furthermore, BBY Ltd mainly violated the historical cost by depicturing wrong valuation of the company during 2011 to 2014. In addition, the company also violates the current cost accounting theory by depicting wrong valuation on its balance sheet. Some of the researchers mainly stated that following the valuation method mainly help companies to depict the accurate financial position on its annual report. On the contrary, other researcher stated that some companies mainly use the unethical measures to reduce the negative growth and inflate their financial report, which in turn help in attracting more investors (Mattessich, 2013). Furthermore, BBY Ltd also violated the historical cost and modified historical cost theory by depicting the wrong cost incurred by the company from trades. In addition, as per the news the company mainly projected wrong valuation of the transaction and manipulates their customers account to support the expenses accumulated from transaction. In addition, as per the news article the company mainly violated by depicting the wrong valuation in their financial report, which resulted in the decreased trust obtained from investors. Some of the researchers mainly stated that companies with the help auditors are able to manipulate their financial report and depicts a high financial stability (Mohammadi, 2015). Conclusion: The overall research mainly helps in depicting the accounting theory, which is being violated by BBY Ltd in conducting their operations. Furthermore, the study also helps in depicting the overall unethical process, which was being conducted by the company from 2011 to 2014. The novice effectively evaluates different types of accounting theory, which is been violated by the company, which led to the loss incurred during 2014 AQA transactions. In addition, the company mainly violated Positive accounting theory, Stakeholder Theory, Capital Market research Theory, and Valuation method. Furthermore, the company mainly violated the ethical parameters in conducting the investments. In addition, the novice effectively evaluates the news and depicts the problems, which led to the fall of BBY Ltd. Lastly, the overall depiction of news mainly help in understanding the overall violations, which is been conducted by the company during the 2011 to 2014 operations. Reference and Bibliography: Bebbington, J., Unerman, J., O'Dwyer, B. (2014).Sustainability accounting and accountability. Routledge. Bonin, H. (2013).Generational accounting: theory and application. Springer Science Business Media. Bonner, S., Clor-Proell, S., Koonce, L., Wang, T. (2013).Mental accounting and disaggregation on the income statement. Working Paper, University of Southern California, Texas Christian University, The University of Texas, Queen's University. Brigham, E. F., Ehrhardt, M. C. (2013).Financial management: Theory practice. Cengage Learning. Bryer, R. (2013). Americanism and financial accounting theoryPart 3: Adam Smith, the rise and fall of socialism, and Irving Fisher's theory of accounting.Critical Perspectives on Accounting,24(7), 572-615. Freeman, R. J., Shoulders, C. D., Allison, G. S., Smith Jr, G. R., Becker, C. J. (2014). Governmental and nonprofit accounting: theory and practice.JPAEJOURNAL OF PUBLIC AFFAIRS EDUCATION VOLUME 20 NUMBER 3, 441. Mattessich, R. (2013). The Rise and Significance of Modern Analytical Methods in Accounting. Part I-A Review Essay of Accounting Theory-An Information Content Perspective, of John A. Christensen and Joel Demski.Energeia,2(1). Mohammadi, S. (2015). Full development of the theory of accounting and auditing.International Journal of Accounting and Economics Studies,3(1), 7-9. Nsi, S., Saccon, C., Wstemann, S., Walton, P. (2014). European accounting theory: evolution and evaluation.The Routledge Companion to Accounting, Reporting and Regulation, 54-71. Whitbourn, M. (2016).BBY director believed psychic claim was 'a joke'.The Sydney Morning Herald. Retrieved 25 September 2016, from https://www.smh.com.au/business/banking-and-finance/bby-director-believed-psychic-claim-was-a-joke-20160919-grjznb.html. Current Developments in Accounting Thought Questions: 1.Conceptual frameworks have identified a number of qualitative criteria that financial information should possess if it is to be useful to decision making? 2.Identify the weaknesses of historical cost accounting. In light of these weaknesses, why do you think historical cost accounting remains the most popular method of accounting measurement? 3.The Conceptual Framework Chapter 1 OB2 states that "the objective of general purpose financialvreporting is to provide financial information about the reportingventity that is useful to existing and potential investors, lenders and other creditors in making decisions about providing resources to the entity? Answers: 1. Financial statement is one of the most important factors in the financial aspects of business organization. Financial statement refers to the formal records of all the financial activities and transactions of a business (Kim, Kraft Ryan, 2013). One of the most important factors in the preparation of financial statements for the organizations is the faithful representation of those financial statements. Faithful representation of the financial statements refers to a concept that states that all the financial statements of the business organizations must reflect the actual financial condition of the organizations (Barth, 2013). Faithful representation of the financial statements is necessary for every business organizations irrespective of size and type of the organization. There are three major attributes of the process of faithful representation; all the business organizations must follow these three attributes at the time of the preparation of the financial statements. They are completeness, error free and unbiased (Abeysekera, 2013). The first attribute states that all the financial information provided in the financial statements of the companies must be complete in nature. It implies that the financial information of the organizations must reflect the actual financial position of the organization (Palea, 2013). As per the second attribute, the financial statements of the business organizations should not have any kind of errors in them. Financial statements containing a series of errors lead to the misinterpretation of the actual financial position of the business organizations (Kadous, Koonce Thayer, 2012). The third attribute suggest that the financial statements of the business organizations must not have any kind of biasness in them. Biasness happens when the financial statements of the organizations are being manipulated to provide a different financial picture of the organization. The accountants must not be biased at the time of making the financial statements (Weil, Schipper Francis, 2013). These are the three major attributes of the faithful representation of the financial statements. The Australian Accounting Standard Board, commonly known as AASB, has a significant role to play in the faithful representation of the financial statements of the business organizations (Henderson et al., 2015). As per the AASB Framework Chapter 3 QC 12-16, the financial statements of the organizations include economic phenomena in words and numbers. In order to be useful for the readers of the financial statements, these financial phenomena must be represented correctly and they must be faithfully represented to the users of them. Another important concept in the faithful representation in the AASB framework is neutrality (Luttermann, 2012). As per the AASB framework, neutrality in the financial statements implies that the financial statements of the organizations must be free from any kind of biasness. Hence, it can be observed that the concept of neutrality is a crucial aspect in the process of faithful representation of the financial statements. In the process of faithful represe ntation, one of the major concerns is that is it possible to present the financial information faithfully and neutrally. After considering the conceptual framework of AASB, it can be said that the faithful and neutral presentation of the financial statement of the business organizations is possible. As per the conceptual framework of AASB, the empirical accounting researchers have found some major evidences that it is possible to present the financial statements faithfully and neutrally (Quadackers, Groot Wright 2014). It can be seen that there is not any kind of specific measure for the purpose of faithfully and neutral representation of the financial statement. However, there are many ways to do this. The decision making process of the organizations does not depend on the faithful or unfaithful representation of the financial statement. Some major aspects need to be there in the process of faithful representation. The first aspect is comparability. All the financial information in the process of faithful representation must be comparable. The reliability of the financial information in the financial statements increases when they can be compared to the same kind of information from any other financial statement (Bodie, 2013). The compared financial information may not be useful for the business organization, but they will sure be faithful for the business organization along with the users of them. The next important aspect in faithful representation is verifiability. It is a fact the verified inf ormation can be used with confidence (Ball, Jayaraman Shivakumar, 2012). In todays world, the investors take greater risks by depending on the provided financial information in the financial statements. Hence, the information is desired to be verified. The verified information may not be always useful for the users, but the faithfulness and neutrality makes them precious to the users of the financial information. Another important aspect is timeliness of the provided information. The concept of timelines states that the financial information in the financial statements must be recent. In addition, the financial statements must be used in a quick period. The inclusion old or expired information in the financial statements of the business organizations may falsify the true financial position of the organizations. The most important aspect is understandability. It is desired that the information provided in the financial statements must be understandable for the users of them. Understandability implies that the presented information in the financial statements of the organizations must be clear to the users; in addition, they must be fundamentally correct. From above discussion, it can be said that with the help of these aspects, it is actually possible to represent the financial information faithfully and naturally. In this regard, the financial standard makers need to take some initiatives. In the conceptual framework, the financial standard setter should incl ude some examples or references of the process of faithful representation of financial data so that the accountants can follow this. This will provide them a clearer picture about the process of faithful and neutral representation of financial information in the financial statements of the companies. 2. Historical cost is a process of measuring the value of the asses. In the process of historical cost, the value of an asset in the balance sheet is taken based on the nominal cost or original cost when acquired by the company or organization. There are both weaknesses and merits of HCA. In order to analyze the popularity of this process, it is necessary to evaluate both weakness and metros of this process. It can be seen that there are some major weakness of historical cost accosting (HCA). In the HCA, the recent changes in the price level are not taken into consideration. Due to this reason, the financial statements under HCA fail to show the true financial image of the organization (DRURY, 2013). Another weakness is the unrealistic value of assets in the balance sheet. Due to not taken into consideration the recent changes in prices, the amount of the assets of the organizations show unrealistic values. Insufficient provision for depreciation is another weakness of HCA. The depreciation is charged based on historical cots that are not sufficient. Another major disadvantage of the HCA is unrealistic profit (Carmona, Ezzamel Gutirrez, 2016). The major problem is that the revenues are taken based on current value and the expenses are taken based on historical value. Hence, it can be said that the HCA process fails present the fair or actual value of the financial position of the organi zations. Along with the above-discussed weaknesses, the HCA has some major merits or benefits. The HCA maintains the objectivity of the financial position of the organization. HCA is considered as the simplest method of the valuation of the assets (Demski, 2013). Apart from this, the process of charging depreciation is a simple process in HCA. The conservative approach of HCA makes it more innovative to the accountants. It creates the scope of creative accounting. It can be seen that the HCA process is consistent with the broader goals and objectives of the accounting process (Hall, 2012). These are the major advantages of HCA. Due to the presence of the weaknesses in the process of HCA, there are some alternative methods of HCA. One of the alternatives of HCA is current cost accounting process. In this process, the amount of cash that needs to be paid at the time of the acquisition of any asset is taken into consideration. Realizable value method is another alternative of the HCA. In this process, the current amount of cash that could be obtained after the disposal of the assets is taken into consideration. Present value method is another alternative asset valuation process of HCA. In this process, the future cash flow that can be generated due to the disposal of the assets is taken into consideration. The most popular alternative of HCA is the current purchasing power accounting (Jolliffe Prydz, 2015). In this form of accounting, the profit after allowing the maintenance cost of the purchasing power is taken into consideration. These are the major alternatives of HCA. From the above analysis, it can be seen that there are both demerits and alternative methods of HCA. In spite of the presence of both demerits and alternatives, the HCA is widely popular among the accountants of all over the world. There are specific reasons behind this. One of the major reasons is that the accountants are very mush reluctant to value the assets based on the current market price. The reasons behind this are creative accounting and various accounting malpractices. It has been seen that under the process of HCA, there is not any scope for accounting manipulation as all the accounting information is supported by evidences. This is another reason for choosing HCA by most of the accountants. The financial managers can apply various kinds of alternatives in recognizing, measuring and reporting the economic information with the help of HCA. As per the empirical evidences, the financial statements based on the process of HCA are very much useful for the financial managers. A part from these, there are various other reason that are responsible for the widespread popularity of HCA all over the world. It can be observed that these reasons are to powerful too surpass the demerits of HCA. 3. As per International Accounting Standard Boards (IASB) conceptual framework chapter 2, the main objective of financial reporting is to provide financial information to the various users of the financial statements for financial decision-making. The various users of financial statements are the potential investors, lenders, creditors and others. It is important that these various users of financial statement must be provided with the necessary information in order to make effective decisions. It is important that these financial information is necessary for the assessment of the future cash flow of the organizations along with to assess the stewardship of the accounting process. This information has its utmost importance at the time of decision making of the business organizations. It can be seen that IASB has give more emphasis on describing the term stewardship rather to use them (Zhang Andrew, 2014). The main purpose of financial statement forms the base of conceptual framework. In addition, there are various other elements of conceptual framework like the idea of treatment of business entity, the various elements of financial statements, disclosure and presentation of various measurement and others. The main objective of general principles of financial treatment is to provide financial information to the various users of the financial statements. The various users of financial statements are the investors, creditors and others (Gebhardt, Mora Wagenhofer, 2014). In this regard, the measurement process under historical cost and fair value is an important aspect. These two measurement processes are used by the business organizations to measure the financial assets of the organizations. In the process of fair value method, at the time of valuing any asset of the organization, the current market prices of that asset is taken into consideration. On the other hand, in the process of HCA, the market prices of the asset is considered at the time of the acquisition of the asset by the business organization. hence, it can be seen that some major differences are there between the measurement process of these two methods. Fair value accounting is taken into consideration when the present value of an asset cannot be determined. On a more precise note, fair value can be described as the agreed upon sales price of an assets between two parties. It can be observed that, among these two measurement processes, the historical cost value of measuring the cost o f an asset is more popular all over the world. One of the major reasons is that the process of measurement is very easy and convenient in HCA (ifrs.org, 2017). In addition, the HCA diminishes the scope of manipulation from the accounting process. Hence, from the above discussion, it can be concluded that among these two measurement methods, the HCA method is more relevant in the accounting conceptual framework. References Abeysekera, I. (2013). A template for integrated reporting.Journal of Intellectual Capital,14(2), 227-245. Ball, R., Jayaraman, S., Shivakumar, L. (2012). Audited financial reporting and voluntary disclosure as complements: A test of the confirmation hypothesis.Journal of Accounting and Economics,53(1), 136-166. Barth, M. E. (2013). Measurement in financial reporting: the need for concepts.Accounting Horizons,28(2), 331-352. Bodie, Z. (2013).Investments. McGraw-Hill. Carmona, S., Ezzamel, M., Gutirrez, F. (2016). Accounting history research: traditional and new accounting history perspectives.De Computis-Revista Espaola de Historia de la Contabilidad,1(1), 24-53. Conceptual Framework for Financial Reporting 2010. (2017).ifrs.org. Retrieved 9 April 2017, from https://www.ifrs.org/News/Press-Releases/Documents/ConceptualFW2010vb.pdf Demski, J. (2013).Managerial uses of accounting information. Springer Science Business Media. DRURY, C. M. (2013).Management and cost accounting. Springer. Gebhardt, G., Mora, A., Wagenhofer, A. (2014). Revisiting the fundamental concepts of IFRS.Abacus,50(1), 107-116. Hall, J. A. (2012).Accounting information systems. Cengage Learning. Henderson, S., Peirson, G., Herbohn, K., Howieson, B. (2015).Issues in financial accounting. Pearson Higher Education AU. Jolliffe, D., Prydz, E. B. (2015). Global poverty goals and prices: how purchasing power parity matters. Kadous, K., Koonce, L., Thayer, J. M. (2012). Do financial statement users judge relevance based on properties of reliability?.The Accounting Review,87(4), 1335-1356. Kim, S., Kraft, P., Ryan, S. G. (2013). Financial statement comparability and credit risk.Review of Accounting Studies,18(3), 783-823. Luttermann, C. (2012). Accounting as the Documentary Proof of Good Corporate Governance. InGerman Corporate Governance in International and European Context(pp. 275-328). Springer Berlin Heidelberg. Palea, V. (2013). IAS/IFRS and financial reporting quality: lessons from the European experience.China Journal of Accounting Research,6(4), 247-263. Quadackers, L., Groot, T., Wright, A. (2014). Auditors professional skepticism: Neutrality versus presumptive doubt.Contemporary Accounting Research,31(3), 639-657. Weil, R. L., Schipper, K., Francis, J. (2013).Financial accounting: an introduction to concepts, methods and uses. Cengage Learning. Zhang, Y., Andrew, J. (2014). Financialisation and the conceptual framework.Critical perspectives on accounting,25(1), 17-26.

WHY UNIONS Essay Example For Students

WHY UNIONS? Essay Unions are groups of working people who join to talk to employers about wages and conditions of work instead of workers talking to employers on an individual basis.1 Because they speak for everybody, unions can get a better deal for each worker than one employee could by negotiating with the employer. As seen in the short movie WHY UNIONS?, non-unionized workers talks about the unfair treatment they experience in the work place. Through collective action, workers formed unions so they could have a voice in deciding wages, hours, working conditions and dealing with the many problems arises in the workplace. Unions are not just organizations trying to get more dollars and cents or better working conditions for people who hold union cards. People who dont enjoy the benefits of union protection get benefits too. The labour movement was in the forefront of the struggles for public health care, for public education, for minimum wages, holidays and employment conditions. We will write a custom essay on WHY UNIONS? specifically for you for only $16.38 $13.9/page Order now 2 1 D. Martin, Form War To Peace, Canadian Labour Congress, Quebec, 1991, P.17 2 Notes On Unions, Canadian Labour Congress, Quebec, 1992, P.1 P. 2 UNION NOWADAYS Unions are like businesses: their success depends upon attracting and retaining buyers (new members). Recently, one of the major problems faced by the union movement is that few Canadians understand what services unions come into public.3 The public also dont know the union is also helping Canada in other parts of areas such as economy, etc. The public think that the only time unions come into the publics eye is as a result of strike or withdrawal of services. This is because of the impressed strikes held by the union workers. The memorable one would be the strike held by the Toronto Transit Commission workers back in September 1991. The lack of transportation resulted in inconveniences among the public. The Canadian public becomes upset over conflict. The strikes make the public forget about the contributions of unions in other areas. From a marketing perspective, the union movement has positioned itself like the nuclear industry it receives attention only when it is about to blow up, melt or leak.4 Five important needs for union movements are: 3 Alistair Davidson and Ian Mckinnon, Unions need to study marketing, The Globe and Mail, May 8 1984, Business section, P.8 4 D. D. Carter, Canadian Industrial Relations In The Year 2000, Industrial Relations Centre, Kingston, 1992, P.50 P.3 1) job preservation 2) health preservation in the workplace 3) day-care 4) retraining 5) financial negotiations on behalf of members Union leaders and members must become as sophisticated as management to support the attempt by Canadian business to survive fierce international competition. 5 There are about four million members of Canadian unions and 10.5 million members of co-operatives. There are two choices: traditionally, unions have only tried to increase their members standard of living by negotiating a higher wage, more benefits or fewer hours. The union movement has played an important role in the past in the formation of new institutions such as credit unions. Today, new demands on the union movement will force it to examine its strategic choices.6 Above all, the union movement must structure itself to aid the survival of Canadian industry and Canadian jobs in a fiercely competitive world market. 5 Bryan D. Palmer, Solidarity: The Rise And Fall Of An Opposition In B. C., New Star Books, 1987, P.63 6 Peter Sinclair, Unemployment: Economic Theory And Evidence, Oxford Press, 1987, P.215 P. 4 CANADIAN LABOUR CONGRESS At the national level, the organization of unions is the Canadian Labour Congress (CLC). The CLC is the central body in Canada and is composed of about 85 national and international unions representing about 2.2 million workers. LABOURS SOCIAL OBJECTIVES The social objectives of the Canadian labour movement are a reflection of the aims and desires of a large segment of the countrys working population. 7 In some ways, the objectives are related to the economy. The objectives are: Health Programmes the lack of available health care to all Canadians caused the labour movement to redouble its long-standing efforts to have a national medicare plan by which needed medical services would be available to all Canadians whatever their financial means. Medicare as a system of universal health care must be regarded as a public service and not merely as an insurance programme under which only a limited number of services are available. 7 Notes On Unions, Canadian Labour Congress, Quebec, 1992, P. 5 P.5 Pensions Unions have been consistently negotiated improvements in pension plans. By statistics, only 41.4% of employed Canadians (50. 1% of men and 33.7% of women) belong to company pension plans. The CLC is convinced that an upgraded universal plan would eliminate any fear and want from old age. Poverty and Regional Disparities The CLC has continually drawn attention to the unjust disparities existing among various sections of Canadian society and among different regions. Human Rights The Canadian Labour Congress has devoted considerable effort to combatting discrimination and protecting basic human rights. Education A basic human right, education must be available to all Canadians. The responsibility to present a well-rounded picture of all participating partners in the Canadian mosaic is a basic principle of an education system. Housing The CLC suggests that the housing be regarded by governments as a social need and not as a regulator of economic activity Taxation There CLC suggests that there is a strong feeling among union members that adjustments should be made to distribute more equitably the burden of taxes. .u0284513552c2e9fae7efcef20dc3ed60 , .u0284513552c2e9fae7efcef20dc3ed60 .postImageUrl , .u0284513552c2e9fae7efcef20dc3ed60 .centered-text-area { min-height: 80px; position: relative; } .u0284513552c2e9fae7efcef20dc3ed60 , .u0284513552c2e9fae7efcef20dc3ed60:hover , .u0284513552c2e9fae7efcef20dc3ed60:visited , .u0284513552c2e9fae7efcef20dc3ed60:active { border:0!important; } .u0284513552c2e9fae7efcef20dc3ed60 .clearfix:after { content: ""; display: table; clear: both; } .u0284513552c2e9fae7efcef20dc3ed60 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u0284513552c2e9fae7efcef20dc3ed60:active , .u0284513552c2e9fae7efcef20dc3ed60:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u0284513552c2e9fae7efcef20dc3ed60 .centered-text-area { width: 100%; position: relative ; } .u0284513552c2e9fae7efcef20dc3ed60 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u0284513552c2e9fae7efcef20dc3ed60 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u0284513552c2e9fae7efcef20dc3ed60 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u0284513552c2e9fae7efcef20dc3ed60:hover .ctaButton { background-color: #34495E!important; } .u0284513552c2e9fae7efcef20dc3ed60 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u0284513552c2e9fae7efcef20dc3ed60 .u0284513552c2e9fae7efcef20dc3ed60-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u0284513552c2e9fae7efcef20dc3ed60:after { content: ""; display: block; clear: both; } READ: Computers and Society Essay Consumer Services Efforts have been made to have the government undertake an investigation of the disparity between food prices paid to farmers and those charged to consumers. P.6 HOW IT IS RELATED TO THE ECONOMY Unions major objective is to bargain for a better wage. Labour is the basic element of a countrys economy. Without labour, there will not be products which are made in Canada. If the labour are treated unfairly in their workplace, they dont have the spirit to work harder.8 As a result, the quality of Canadian product will be dropped and lose the competition on the international market. Therefore, there should be an agreement between employers and employees. The employer side gets the maximum profit while the employee side still gets a satisfactory wage. However, Canadas labour get higher wage in the world. Therefore, the cost of products are pretty high. Compare to the international market, the price of Canadian products are higher because of higher wages. Maybe its a by-product of the bargaining higher and higher wages. The Canadian products will lose their competitiveness in the market. It is one of the reasons why Canada is experiencing recession right now. Another issue which affects Canadas economy is the free trade agreement between Canada and the United States. Through the process of this agreement, Canadian Labour movement has been trying to reject this proposal. However, the government still passed it. The labour movement is rejecting 8 David Edward, Times Of Trouble, National Library of Canada, Ottawa, 1983, P.30 P. 7 it because they predict that the free trade will destroy the economy of Canada. Moreover, investors are transferring to the U.S. because there is lower cost. Free trade is another big reason for Canadas recession. EDUCATION AND ECONOMY Chart A ( provided at the end of the report), shows that the university tuition fee price index went up 120% for all of Canada in the past ten years. This is the result of the withdrawal of government funding. Individuals must pay the difference. Federal spending in support of education and training fell by 7.6% in 1990-91 over spending in 1989-90. The portion of the federal budget going to education and training has dropped from 7.3% in 1985-86 to 6. 4% in 1990-91.9 The share of federal funds going to provincial and territorial governments for education and training has dropped from 56% in 1984-85 to a low of 41.7% in 1990-91. The budget reflects that Canada is in a tough economic situation. Cutbacks are necessary in order to spend less money. In a sense, the budget is a mirror of the economy. An increase of services or spending indicates a good economic situation. A decrease of services or spending indicates a decline in the economy. One of the solutions 9 Cynthia Wiggins, Death by 1000 cuts: Public services in peril, CLC Today, 1992 February issue, P.5 P.8 to survive during a tough economy is to cut back on educational spending. Some people believe that the government is heading towards the privatization of education. Education is considered to be a basic human right. The necessary educational programmes and funding must be put in place to encourage lifelong learning.10 However, insufficient funding is being spent on education by the federal government. The labour unions keep protesting the retrenchment strategy on education. Knowledge means wealth to the country. If the workers are not well educated, they may produce poor quality goods. As a result, the country will lose its competitiveness in the world market. Similarly, the same theory can be applied to Canada. If the retrenchment strategy continues, the public will cry out against paying taxes for insufficient government services. Labour unions continue to be concerned about the budget provided for education.11 10 Riane Mahon, Canadian Labour In The Battle Of The Eighties, Canadian Labour Congress, Quebec, 1983, P.168-169 11 Riane Mahon, Canadian Labour In The Battle Of The Eighties, Canadian Labour Congress, Quebec, 1983, P. 171 P.9 INVESTMENTS AND ECONOMY Investments are closely related to a countrys economy. Investment is defined as a property or other possession acquired or invested in for future income or benefit. Unions also establish funds to invest in business. Usually, the local union invests the fund in a business located in the same area. Each union uses the fund to promote the economy if possible. Examples are provided in a newspaper called CLC Today (February 1992 issue). The worker-owned Solidarity Fund in Quebec recorded its best year in 1991. The return on investment was 13.04% for the year ending October 31. The cost of shares sold to workers in 1984 was only $10 per share. But it has increased to $14. .ub9aef1c915ba670ed1fbaf1ca1d6076f , .ub9aef1c915ba670ed1fbaf1ca1d6076f .postImageUrl , .ub9aef1c915ba670ed1fbaf1ca1d6076f .centered-text-area { min-height: 80px; position: relative; } .ub9aef1c915ba670ed1fbaf1ca1d6076f , .ub9aef1c915ba670ed1fbaf1ca1d6076f:hover , .ub9aef1c915ba670ed1fbaf1ca1d6076f:visited , .ub9aef1c915ba670ed1fbaf1ca1d6076f:active { border:0!important; } .ub9aef1c915ba670ed1fbaf1ca1d6076f .clearfix:after { content: ""; display: table; clear: both; } .ub9aef1c915ba670ed1fbaf1ca1d6076f { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ub9aef1c915ba670ed1fbaf1ca1d6076f:active , .ub9aef1c915ba670ed1fbaf1ca1d6076f:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ub9aef1c915ba670ed1fbaf1ca1d6076f .centered-text-area { width: 100%; position: relative ; } .ub9aef1c915ba670ed1fbaf1ca1d6076f .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ub9aef1c915ba670ed1fbaf1ca1d6076f .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ub9aef1c915ba670ed1fbaf1ca1d6076f .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ub9aef1c915ba670ed1fbaf1ca1d6076f:hover .ctaButton { background-color: #34495E!important; } .ub9aef1c915ba670ed1fbaf1ca1d6076f .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ub9aef1c915ba670ed1fbaf1ca1d6076f .ub9aef1c915ba670ed1fbaf1ca1d6076f-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ub9aef1c915ba670ed1fbaf1ca1d6076f:after { content: ""; display: block; clear: both; } READ: Case Study Intermarket Essay80 per share recently. Most of the shareholders are members of the Quebec Federation of Labour. Fund managers have invested more than $245 million in Quebec in the past seven years. They estimate that 23,000 jobs have been created or saved as a result. Another example is provided by unions in British Columbia. Government, labour and business in B.C. are establishing an investment fund for the provinces working people. The Working Opportunity Fund will be used to invest money in small and medium-sized B.C. businesses to help diversify the provinces resource-based economy. The government is going to contribute $600,000 in start-up money and a $2 million loan guarantee. These examples illustrate the importance of unions in the Canadian economy. P.10 ECONOMIC UNION Canadians have greatly benefited from close economic integration. Canadas economic and political union which allows Canadians to live and grow together in a common land, has generated economic gain for all Canadians. After the post war period, Canada had one of the worlds fastest growing economies. The reason is that the Canadian economy is flexible in adapting to change.12 However, Canada, like other countries, is facing both internal and external economic challenges. By examining chart B (provided at the end of report), it can be seen that there has been a dramatic change in the distribution of world exports in the past 18 years. Overall, exports in many countries areas are decreasing. Much of the decrease has been absorbed by Asia. Asia is the only area that has increased its world exports. This could mean that Asia will be the leading export area in the future. This is one of the external problems Canada is facing. Therefore, economic union is being set up to enhance the economy of Canada. Two key factors are: i) a high degree of economic integration 2) an advanced degree of political integration.13 Economic and political integration go hand in hand 12 James Cronin, Work, Community and Power, Temple University Press, Philadelphia, 1983, pp 215-217 13 Solomon Barkin, Worker Militancy And Its Consequences, Praeger, New York, 1983, P. 330 P.11 because, to maintain a high level of economic integration, each party of the economic association must be able to modify its policies. Economic union with political integration also provides the structural basis for the sharing of income. The facets of economic union that facilitate the relatively free flow of people, goods, services and capital have had an enormous impact not only on the structure of economic activity in Canada, but also in raising Canadians incomes. Economic union raises productivity and incomes by making available a much larger market for producers in all provinces than the limited market. The size of the market made by economic union is also important for generating Canadas bargaining clout. Canada is the seventh largest industrial economy in the world. Economic union helps to smoothen the impact of economic shocks, such as the grain price shock of 1986 to the benefit of all Canadians. This is accomplished by providing stabilization and insurance benefits to the provinces. The economic union provides insurance benefits in the Canadian regions. With the many industrial structures across provinces, the insurance principle is very important to the Canadian economy. The stability of Canadian economy gives benefits to all Canadians. 14 14 Statement On The Next Federal Budget, Ottawa, 1983, P.12 P.12 CONCLUSION Most people believe that bargaining is best accomplished by unions. However, unions get involved in all kinds of social activities. These activities influence the economy of Canada directly or indirectly. If there were no unions, Canadian workers would not enjoy being among the most highly paid labourers of the world. Without the unions, the privatization of education might become a reality. Other than bargaining for wages, unions also have to be socially responsible. But there is evidence that unions are helping people other than paid members. The prime objectives of the union is to provide better working conditions for workers. P.15 Bibliography 1 Barkin, Soloman, Worker Militancy And Its Consequences, Praeger, New York, 1983 2 Carter, D.D., Canadian Industrial Relations In The Year 2000, Industrial Relations Centre, Kingston, 1992 3 Cronin, James, Work, Community and Power, Temple University Press, Philadelphia, 1983 4 Davidson, Alistair, and Ian Mckinnon, Unions need to study marketing, The Globe and Mail, May 8 1984, Business section, P.8 5 Edward, David, Times Of Trouble, National Library of Canada, Ottawa, 1983 6 Mahon, Riane, Canadian Labour In The Battle Of The Eighties, Canadian Labour Congress, Quebec, 1983 7 Martin, D., Form War To Peace, Canadian Labour Congress, Quebec,1991 8 Notes On Unions, Canadian Labour Congress, Quebec, 1992 9 Palmer, Bryan D., Solidarity: The Rise And Fall Of An Opposition In B.C., New Star Books, Vancouver, 1987 10 Sinclair, Peter, Unemployment: Economic Theory And Evidence, Oxford Press, England, 1987 11 Statement On The Next Federal Budget, Ottawa, 1983 12 Wiggins, Cynthia, Death by 1000 cuts: Public services in peril, CLC Today, Ottawa, 1992 February IssueCategory: Social Issues