Practical Assignment Example | Topics and Well Written Essays - 2500 words

Practical - Assignment Example First, it is vital to note that these concerts bear naming scheme and their duration may only be within 2, 3, 4, or 5 hours. The concerts have to fall in three broad categories too. These categories are classical, rock, or pop and all of them have a minimum ticket cost varying from  £25 and  £450. These are scenarios recorded for purposes of having a consistency in data. The consistency that arose from the definitions laid bare by the anticipation of data to be collected here is what leads to the springing up of tables. Secondly, to keep the data collected in check, both in complexity and in quantity, the aspect of the concerts being scheduled and are in a repeated run makes it much easier in the database logic streamline. The events are in a variety of venues but the way that they are set up eases the schematics of the database due the recurring nature of the tables needed. The opportunities in reusing the tables and the design schemas made the work easier and the time saved was key in coming up with the best solution possible for the Concert Office database. In the analysis, stage we figured out that â€Å"REUNION† concert was one that could run in a multiple venues. This type of a scenario often anticipated a lot in the future hence the schema had to accommodate this scenario. After the design accommodating the scenario in the logic, then at least data has to be analysed to ensure maintenance in consistency. The runs that catered for here are what the team at The Concert Office term as events. The dates associated by each of the event and the venues around the UK have to be recorded. Recording is dependent on a proper datasheet and well-foreseen data collection. This scenario demands that customer’s book onto the events. The company will then need to capture the details of these customers. Still, on the requirements analysis stage, the anticipation was

JBS Report Assignment Example | Topics and Well Written Essays - 1250 words

JBS Report - Assignment Example The changes are as shown in the income statement. When calculating the BEP for JBS, there is a challenge of classifying costs. It is very difficult to divide the costs categories as either a variable or a fixed cost. Consequently, the variable cost does not change proportionally to JBS revenue at each activity level. For instance, the revenues gotten from fee might change if the recruitment of students is changed. It is also difficult to categorize the faculty member as variable costs because there is high possibility of recruiting part-time staff. Consequently, there is a challenge attached to the time. Determining the time over which the variable and fixed cost relationship holds the status of the company is difficult to find out. Over a short time, the costs are viewed as fixed, but in the end, some of costs considered as fixed are now variable. To evaluate the progress of JBS towards its mission, will use performance indicators and measures. The company will use the balance sheet, income statement, profit and loss account, and cash inflows of the previous year’s result to measure its performance. The data will be extracted from the relevance sources and then converted to financial ratios. This analysis involves incorporating both the financial and non-financial information into the evaluation. Additionally, the evaluation will seek the help of scorecard and benchmarking indicators. In Benchmarking, the institution will incorporate the comparative data in measuring the performance. The method takes the internal form where comparisons are done between various units within the institution. The technique will also take the functional form, where comparisons are conducted with the trusted external practitioner despite the market. Additionally, the institution will take the competitive form where the comparisons are

Selection Strategies for Clapton Commercial Construction Essay Example for Free

Selection Strategies for Clapton Commercial Construction Essay Summary Atwood Allen Consulting has been retained by Clapton Commercial Construction (CCC) to assist them with their expansion into the Arizona market. We are in the final stages of assisting them with their transition, and the final step is to discuss recruitment and selection strategies for the expansion. We will provide details on how to proceed with recruitment and selection of employees to find the best candidates for their organization. Meticulous consideration and planning of staffing requirements, and the steps involved to find the ideal candidate with the right skill set is one of the most important jobs to perform. Cascio (2013) states that the first step in recruitment and selection is managing the candidate applications and creating a talent pool of potential participants that may be qualified for the position. The following steps include the initial screening, interviewing, selection process, and candidate placement. Organizational Goals CCC is currently based in Detroit and employs 650 individuals. With their planned expansion into the Arizona market, they expect to add 130 employees. Their projected annual revenue is 10 million, with a -3% growth predicted for 2016. They currently have a 20% turnover rate that they foresee will remain unchanged in the next year when they move into Arizona. Recruitment and selection will need to be aligned with the company’s organizational goals. Carefully planned goals provide a blueprint for an organization and keep it going the right direction. Griffin (2015) states that organizational goals assist organizations with evaluating and organizing performance. The functions they serve are: 1) give direction and guidance 2) facilitate planning 3) motivate staff 4) assist organizations with evaluating and organizing performance. CCC should choose individuals who share the similar values and beliefs to help them achieve  their organizational goals. Values are qualities and traits that an individual holds close and represents that persons driving force (Heathfield, 2015). Develop a mission statement of what Clapton Commercial Construction does and why it exists. Each employee should be able to address the mission statement verbally. The commitment to quality workmanship, customer satisfaction, and on-time completion of projects should all be included when developing the mission statement. This mission statement will be critical for your organization to be successful as you move into a new market. You need to brand yourself and let the market know you stand for quality and customer service. Demographic Changes According to The Associate General Contractors of America, Arizona lost more construction jobs than any other state in the nation in 2014 and the only state in the West to lose jobs. Experts warn that the declining numbers could be the states new average. It was reported that between December of 2013 and December 2014, Arizona lost 4,300 construction jobs. This number converts to a 3.4 percent job loss overall in construction (Fishler, 2015). According to Minter (2015) the construction trade is still hovering at the ground level of the 2008 recession. Following a recession a construction market usually does well, however, Arizona has not recovered and is operating at approximately half of the strength it was prior to the recession. The demand for housing is sluggish now because it was overbuilt prior to the recession, and the population growth has not been as strong. Because of this there is a high vacancy rate and no demand for new construction. However, the latest population estimates out by the States Office of Employment and Population Statistics, and the U.S. Census Bureau forecasts growth ahead. Future growth will eventually convert to an increase in construction workers (Hansen, 2015). Workforce Diversity â€Å"Diversity should be linked to every business strategy† including recruitment, employee selection and placement, reward structure, succession planning, and performance evaluation (Cascio, 2013 p. 160). There are several selection methods to choose from when looking to hire new employees. Let’s explore these one can see how they may affect decisions to hire. First, there is passive non-discrimination, this method treats all sexes and  races equally in regards to hiring practices. There is no attempt to recruit minority applicants actively. This method does not observe the history of discriminatory practices and may block candidates from seeking job opportunities. Second, pure diversity-based recruitment, this is a planned effort by the organization to expand the pool of candidates so that no one is ruled out based on past or present discrimination. And lastly, diversity based recruitment with preferential hiring. This method of selection goes one step further than pure-diversity based recruitment and favors ethnic minorities and women for hiring and promotions. This process is also referred to as the soft quota system (Farooq, 2011). Atwood and Allen Consulting would recommend the pure diversity method for CCC. The decision to choose one individual over another must be made based on multiple factors. The Supreme Court has ruled that staffing decisions must be made on a case-by-case basis, sex, race, age and other factors must be considered but ultimately the decision to hire or promote is based on the most qualified individual (Cascio, 2013). The United States Census Bureau 2014 estimates Arizonas population at 6.7 million. The percentage of white alone is 56.7, Hispanic or Latino is 30.3% and African American is 4.6%. Considering these numbers, it would be advantageous to have employees that are bilingual. It should not be required but should be strongly preferred since there is a large population of Spanish speaking individuals and would be an asset to the organization. Recruiting/Screening/Selection Clapton Commercial Construction should begin the recruitment process by posting the available positions internally. When you promote from within there is a positive impact on employee morale. Employees feel the company compensates hard work for better opportunities and can inspire employees to work at a higher level of productivity. Internal recruiting is also associated with lower costs. The HR department can post the position on the intranet and bulletin boards throughout the organization versus the high cost of external postings (Root, 2015). If an external recruiting effort is launched prior to considering the talents, desires and future of the current pool of employees it may cost the organization more money in both short term and long term. Ultimately, for a successful internal recruitment process to occur, strong management support is critical (Cascio, 2013). After posting the positions, internally it is recommended to move forward with the external process. If there are top management position to be filled, we would recommend a search firm that makes diversity a priority and one with good ethical reputation. There are many external sources that are valuable when searching for qualified applicants. Examples of online job engines where you can post an ad are, monster.com, Career.Builders.com, Indeed.com. Consider posting on the business social network site LinkedIn, Arizona Job Services, local trade publications, and Craig’s list. A benefit of hiring externally is bringing in new talent and ideas that can create growth and development in the organization. Once CCC is ready for the interviewing process, there are several methods available. However, we would recommend two different types. 1) Behavioral- style interviewing, this method of interviewing asks the individual to answer a question with a story of how they responded to a situation in the past. 2) Situational-style interviewing, this method asks an individual to solve a problem. They are given a situation, assess it and provide the best way they would resolve the situation (Doyle, 2015). In addition, prepare ahead of time and have the complete list of questions ready. Conduct the interview in a designated, quiet place free from distractions. Listen to what the person is saying, pay close attention, make eye contact and take notes. In addition to the previous measures discussed, Atwood and Allen Consulting would also recommend asking potential candidates to take an integrity test or a personality-based test. These are tests given to prospective employees to gauge their views on dishonest behavior and has shown to be a useful indicator of future disciplinary problems (Cascio, 2013). Selection of candidates will be the final step. CCC will analyze all the information during the recruitment and interviewing process and make their selections. Select the most qualified individual based on pure-diversity based recruitment. The best applicant for the position should always be the one considered as ruled by the Supreme Court. Conclusion The recruitment and selection process is critical to your expansion into the Arizona market. There is much to consider and a lot to accomplish before your arrival. Your future success is heavily dependent on the steps  we have discussed here. Take all necessary steps to hire the right candidates that are aligned with your values, organizational goals and mission. Ensure that you are doing everything possible to be a diverse organization, this will encourage success in your expansion and make your company more marketable. Atwood and Allen Consulting wishes you success as you move forward with your endeavors. It has been a pleasure working with you. References Doyle, A. (2015). Behavioral and Situational Interviewing. Retrieved from http://jobsearch.about.com/od/jobinterviewtypes/qt/situational-interview.htm Farooq, U. (2011). Employee Selection Methods Polices of Organizations. Retrieved from http://www.studylecturenotes.com/management-sciences/human-resource-management/108-employee-selection Fishler, M. (2015). Arizonas construction industry saw significant job loss last year. Retrieved from http://cronkitenewsonline.com/2015/02/arizona%E2%80%99s-construction-industry-lost-most-jobs-nationwide-in-2014/ Griffin, D. (2015). Goal Setting Definitions. Retrieved from http://smallbusiness.chron.com/goal-setting-definitions-1064.html Hansen, R. J. (2015). Arizona labor market finished 2014 on an upswing. Retrieved from http://www.azcentral.com/story/money/2015/01/22/arizona-labor-market-finished-upswing/22176861/ Heathfield, S. M. (2015). More About Building An Organization Based On Values. Retrieved from http://humanresources.about.com/od/str ategicplanning1/a/organizvalues_2.htm Root, G. N. (2015). Advantages and Disadvantages of Internal Recruitment. Retrieved from http://smallbusiness.chron.com/advantages-disadvantages-internal-recruitment-11212.html

Politics Impact On Financial Market And Economy Economics Essay

Politics Impact On Financial Market And Economy Economics Essay The stock market affects the economy on different sides: first the wealth effect which is the effect on people financial outlook, this means that people lose their money on shares. The second impact is the effect on pensions which means the investment trust that can be the most important thing for the long term development. The third impact is represented by the consumer confidence for the stock market. The fourth impact is the investment itself which is represented by the increased issuing for shares. The last impact is the bond market which develops and improves the investments (Pettinger, 2011). The economics of a country is related to the stock exchange situation. Stock exchange has many roles in the economy: raising capital for business through selling shares, mobilizing savings for investments helps companies management in financing their organizations, facilitating company growth through merger agreement in stock market, profit sharing through dividends and stock price that generate revenue if it increases and corporate governance by offering public stock exchange (kelly, 2010). Stock exchange also involve in creating investment opportunities for small investments since investing in shares is open for both large and small stock investors because a person buys the number of share he can afford. It is a barometer of economy since the share prices rise and fall depending on market forces. If the economy shows sign of stability and growth, the share prices tend to rise or remain stable, however if it shows depression then the stock market crash (Mandelbrot Hudson, 2006).   The types of stocks are: Common stock, Concentrated stock, Golden share, Growth stock,   Issued shares, Preferred stock, Restricted stock, Shares authorized, Shares outstanding, Tracking stock, and Treasury stock (Little, 2012). In economics, a financial market is a mechanism that allows people to buy and sell financial securities, commodities, and other fungible items of value at low transaction costs and at prices that reflect the efficient market hypothesis (Mandelbrot Hudson, 2006).   Finance markets facilitate the raise of capital, the transfer of risk, and the international trade. The financial market matches between the borrower and the lender who buys or sold securities. Borrowers of the financial market can be individual persons, private companies, public corporations, government, and municipalities; whereas lenders in the financial market are the investors(Soros, 2009).   The Financial markets could mean: 1. Organizations that facilitate the trade in financial products. For example: stock exchanges facilitate the trade in stocks, bonds, and warrants. 2. Relating buyers and sellers to trade financial products. Financial market can be domestic or international; trading financial products attract the interest of finance expert while the matches between seller and buyer attract the interest of economics (Dorfman, 1997). The finance markets have changes due to globalization and new economic climate, the demand have increased from investors, regulators, and customers. In Marc Fabers book Gloom Boom Doom Report, there is identification for three structural changes in modern finance (Soros, 2009).   These changes are called: the three Ations The first Ation is securitization where a liability or a mortgage is turned into an asset. The increase in securitization lead to a big problem since it decreases the liquidity. The second Ation is the digitalization of financial trading where technology network have linked globally the financial markets. The third Ation is the quantification where strong tendency in financial markets can be turned into organized spreadsheets with clear buy and sell signals. Finance market is always exposed to risks due to the change in political, social, or technology situation (Amadeo, 2012). Market risk  is the decrease in the value of an investment or trading due to the change in value of the market risk factors. The four standard market risk factors are stock prices, interest rates, foreign exchange rates, and commodity prices. The related market risks are: equity risk: the risk that stock prices will change. Interest rate risk: the risk that interest rates will change. Currency risk: the risk that foreign exchange rates will change. Commodity risk: the risk that commodity prices such as corn, copper, crude oil will change. Risk modeling  means the use of techniques in order to determine the financial risk. The techniques include  market risk,  value at risk, historical simulation, or  extreme value theory  in order to analyze a financial situation and forecast the losses (Crockford, 1986). The financial risks are categorized into  credit risk,  liquidity risk,  interest rate risk, and  operational risk  categories. Political risk is considered one of the operational risk beside legal risk and the operational risk management. This type of risks faces the investors, government, and corporations. There are macro and micro-level political risks. The Macro-level political risks have similar impacts across all foreign actors in a given location. This means that it affects all participants in a given country. Micro-level risks focus on sector, firm, or project specific risk. The political climate has a direct impact on every company and all businesses (Crockford, 1986). Politics is the process where a group of people make collective decisions that arrange the public regulations. Politics show authority and power that permits the government to manage and control the internal stability. The government failure occurs when it lose the ability to provide the civil his financial, social, and economical rights, in addition to the ability in controlling the political security. This can occur for the following reasons: Poor Information: this means that politicians may have poor information about the type of service to provide. Political interference: this means that politicians may take the short term view rather than considering long term effects. Lack of incentives: There is no profit motive working in the public sector which can lead to inefficiency. According to Bato (2010), the relationship is between the political freedom and the economic is statistically significant. Political freedom is connected with the concepts of  equality,  civil liberties,  and  human rights. It provides the country the ability to start a new beginning that improves people lives. According to political philosopher  Nikolas Kompridis, the pursuit of freedom in the modern era can be broadly divided into two motivating ideals: freedom as  autonomy, or  independence. There are different types of political failures: A crisis of state authority which is represented by military pressures, a succession crisis, or severe corruption. This can reflect the rise of religious sectors against the ruling government. Major divisions among the official, military, economic, and religious experts of the country. Economic conditions that seem unjustly on workers can be the main factor in government failure. A broad culture of opposition that unites different social and political groups that encourages efforts to oppose the government. The political revolutions are the activity that aims to change the government and the political system that leads to instability in the internal political situation that has negative effect on the economy in addition to the destruction of the structure. Europeans spoke of revolutions when one form of government gave way to another or a city-states government shifted between republican and aristocratic rule. The notion of revolution destroys the old ways in order to bring new progresses that improve the performance. The revolutions were involved in: Economics: the shift from agricultural to industrial economies is called the Industrial Revolution. Science: Scientific Revolution is used to indicate the shift from traditional natural philosophy to experimental science. Moreover, the revolutions were involved in improving the performance in military and other aspects (Bremmer, 2007). Political revolutions is used for sudden changes in the government through demonstrations and accompanied by attacks on government officials, on public or private property or any other political authority. When the revolution change government institutions but leave the economic and social structure; they are called social revolutions. While they are called the great revolution if they change the government structures, the organization of the economy, the social hierarchy, the role of religion, and major symbols and beliefs regarding authority and national identity. Revolutions are a form of internal political conflict that relates to popular rebellions or civil wars. Revolution is not just challenges to political authority for power but efforts to change a societys major political or economic or religious institutions. Political revolutions is the result of government failure, therefore it aims at improving the economics of the country by changing the government and political structure (Bremmer, 2007). The modern idea of revolution that developed in the eighteenth century was to show revolutions as progressive changes in the social order. These changes replaced outdated and unjust political, economic, religious, and social institutions with a new social organization. The political revolutions have different objectives (Bremmer, 2007): Constitutional revolutions objective is to replace  traditional empires with republics bound by newly written rules that would limit state power and give rights and responsibilities to citizens. As an example on this type: the American Revolution 1776; the French Revolution 1789; the Revolutions of 1848 in France, Germany, and Austria; the Turkish Revolution of 1919; the Iranian Revolution of 1905; and the Chinese Republican Revolution (1911). Anticolonial revolutions objective is to end rule by foreign countries. Some examples include the Latin American revolutions 1808-1828, the Vietnamese 1954 and Algerian 1962 revolutionsà ¢Ã¢â€š ¬Ã‚ ¦ Communist revolutions: inspired by the historical theories of Karl Marx, aimed to overturn existing government and replace them with one-party states that remove private property. They revolutions created dictatorships that destroyed economic elites. For example on this revolution type, Russia 1917, China 1949, and Cuba 1959. Antidictatorial revolutions: it is the result of corruption of dictatorships, aimed to create new governments based on constitutions or one-party states. For examples Mexico 1911, Nicaragua 1979, and the Philippines 1976 (Bremmer, 2007). People are involving in selecting the right government that can provide them strong economy and stable politics situation. The impact of the revolution on the economy is negative during the act, beside it need a period of time in order to rearrange the regulations and control the financial market. The stock market price will decrease since the demand will stop all the revolution period. Moreover the exchange will stop due to the difficulties and risk in transporting. Arab countries have successful take their independents from the occupational countries. However, the leader who have organized the anticolonial revolution, ruled for a long period of time without respecting the countrys constitution. The majorities of Arab young are educated and have the ability to be productive in his country. However, they are struggling to find full time employment due to the mess in distributing the job on unqualified people who permit the government to work for personal benefits. The Arab reaction to the popular movement in Tunisia was surprising since they were  motivated to move against their own governments. Arab countries lack political freedom beside to the economic difference (low income people, or high income), therefore they may use Tunisia sample in their own internal revolutions. The revolutions show a new beginning of a new Arab countries that aim at changing the governments that stole their economics resources by a government that provide them a strong economy. However, the fact is that The Egyptian market remained closed for the entire month of February even as the hardest hit markets were Oman and Qatar, down10.2% and 9.3% respectively for the month of February, while Dubai lost 8.1% and Saudi 6.6%.     Investors seeking to reduce risk were forced to sell out of other Middle Eastern markets, including Qatar and Saudi Arabia. All countries within the Region are different with respect to their social, economic, and political challenges. However, we may witness further pockets of changes across the Middle East. The fire that engulfed the Arab communities commenced in Tunisia, spread to Egypt, and transformed itself into a distinguished moment in the history of the Arab nation. Tunisians and Egyptians surprised the world with the speed and dynamic nature of the revolution that within weeks achieved its objectives. The impacts of these revolutions are still expanding to stimulate the Arab masses to change their internal governments in Libya, Saudi Arabia, Morocco, Yemen, Bahrain, and in Iraq. After undergoing the study, the collected data through both data collecting tools, secondary and primary, shows that the political turbulence has a negative impact on the financial economy.

Graduation Speech -- Graduation Speech, Commencement Address

Welcome fellow graduates and honored guests to the sixtieth anniversary of commencement for Stoll Community College. For those graduating, this day marks the culmination of a period of courage, commitment, and accomplishment. For these reasons, I am greatly honored to be chosen as student speaker for this outstanding class of graduates and I hope that my words will give a measure of justice to the significant event that has brought all of you here tonight. Hopefully, we will laugh a little, perhaps cry, and give some much-deserved praise. For the class of 2012, this is our night to shine, to pat ourselves on the back, to say "Well done. Good job." And as we take center stage to receive our degrees we are also going to lift the curtain and recognize the people behind the scenes. People like the three individuals I am now going to tell you about. Though you may never have personally met any of them, I am certain you have met people like them in your careers as students. They are the embodiment of why we are here tonight. Her name is Mary. She was born towards the end of the Great Depression and, while still very young, she contracted polio. Now, imagine if you can, what it is like to live in the shadow of an illness that substantially impairs your ability walk without pain or climb a flight of stairs without handrails or assistance. What would you do? How would you live your life? Mary stepped out of the shadow and endeavored to live life beyond any physical limitation. When her three children had grown and moved away, when her foster children had all found permanent homes, she enrolled in college. Reaching for what others said would be impossible, she graduated with honors from Stoll Community College 35 years ago. Two year... ... word. Most importantly, thank them for the unconditional love they continue to show. Mom, thank you for everything, I love you very much. Mi esposa, mi BeBe, te quero mucho. Feliz aniversario. Later, when all of tonight's excitement and nervousness has subsided, thank yourself. You have earned it. To graduate is a great accomplishment; whether you started ten or two years ago matters not, what matters is the determination and hard work that brought you to this moment. Your moment to shine. And so, as you prepare to walk through a new door, as you set new and challenging goals for yourselves, remember to keep your eyes focused forward because the future is sure to be adventurous, full of laughter, hope, achievement, gratitude, and inspiration. Congratulations to the class of 2006 on this, the sixtieth anniversary of commencement for Stoll Community College.

Advantages of Standardization

Standardization is the process by which a company makes it methods, especially its production processes, uniform throughout its organization. Standardization helps cut costs by eliminating duplicated effort and allows a company to take advantage of economies of scale when purchasing supplies. However, some advantages may be lost when a company decided to standardize its operations. Disadvantages Loss of Uniqueness If a company builds up a customer base that values its unique niche products, or if the company serves a specialized market, standardizing its processes may mean it loses some of its former customers. For example, if a restaurant builds its reputation on a varied and exotic menu, then changes to a standardized menu to provide a more predictable customer experience, its former customers may defect to competitors who provide more variety. Loss of Responsiveness. When a company expands into new markets, especially in foreign markets, standardization may work against the firm. While it may be cheaper for a restaurant to buy its trademark hamburgers in bulk, if it expands into a new market where people buy chicken much more often, its standardization measures may make it slower to respond to market conditions and end up costing money. Unsuited to Some Aspects of Business Standardization may be advantageous in some areas of business, such as production, but some aspects of a business should be tailored to the customers' needs. Customer service, advertising, distribution and product pricing must be driven by local market conditions to be successful. Stifles Creativity and Response Time Standardization has the potential to get a business into a rut. Standards, once implemented, soon become the status quo and may become entrenched in the corporate culture, making them hard to change when change is needed. However, market conditions often change, and companies that change quickly are best positioned to take advantage of them. Standardization may also stifle creativity, particularly in product design.

A Dilema Enterprise

Delima Enterprise was founded in 1981 by En Zayed. The main business are trading and supplying related products including manpower supplies to the oil and gas industries. The enterprise was incorporated in 2004 as Delima Enterprise Sdn Bhd, with En. Zayed and his wife Puan Hashimah, as the controlling directors and two principal shareholders. The company activities had expanded into provision of engineering services as part of their business diversification and expansions plan.In May 2006, the company had secured a contract worth RM750,000 to be implemented over 6 months. Due to shortage of fund, company need to apply loan from Malayan Banking Berhad and CIMB Berhad totalling RM 1 million. In order to get the loan, they had to provide audited financial statements for the last two years. In July 2006, Encik Zayed engaged the external Auditor Aziz & Co. to perform the statutory audit for period 2003 to 2006. However, due to lack of knowledge about corporate administration, there are is sues arose that need to be settle by them.Furthering the discussion, there are some highlighted problems and issues that arise such as Encik Zayed and Puan Hashimah who are the Directors of the organization were not familiar with Accounting Standards and the provisions of the Companies Act 1965 and their roles and duties as company directors. Besides than that, all the employees did not have the necessary job experiences and good background of studies and most of them are among the family members of the directors.In addition to that, all the records are not organized and filed accordingly. For example like the sales invoices and purchase order are manually prepared and not pre-numbered. There were long outstanding collections from trade debtors as the Monthly Statements of Accounts was not sent to customers on monthly basis. In fact, the standard operating procedure was not in place. Several assets purchased by the company were not recorded and overpayments made to Trade Creditors a nd some personal withdrawals and expenses were charged to the company.Whereas the unrecorded cash withdrawals and cash and Banks balances were not well reconciled. Based on those problems the role and responsibility of Encik Zayed and Puan Hashimah as the Directors of Delima Enterprise Sdn Bhd should play a significant role in determining the future of the organization, establish the vision, mission and policies of the organization, set the strategy and structure and well delegate the authority to management. They should have the duty to act bona fide in the interests of the company. This duty is the most basic of all duties.What is meant by bona fide and in the best interests of the company is that both directors must at all times ensure that their actions are consistent with the well being of the company’s and they should not place themselves in a position where there is a conflict between their duty to the company and their personal interest or duties of shares. In additio n to that, directors should not make any profit out of the position as the director. Yes, in this case there are abuses of power by management and breach of fiduciary on part of the directors as there is a conflict between Encik Zayed’s duty to the company and his personal interest.For example, personal vehicle expenses for Encik Zayed and Puan Hashimah totaling RM50,150 charged to the company during 2005. They should at least prepare documents for anything they used for their personal so that later they can pay back to the company. Besides, he tried to negotiate with the Auditor to not qualify the Financial Statement, failing which Encik Zayed planned to terminate the auditor’s appointment and appoint new â€Å"friendly-party† auditor to negotiate.They also hired their own family members Puan Balqis and Encik Salam as Operations Manager and Human Resources and Administration Manager respectively. Encik Zayed was not willing to commit and invest on necessary tra ining to enhance the knowledge of the employees. Directors are responsible to provide corporate social responsibility and oversee management in order to implement an effective ethics corporate programs to safeguard interest of different stakeholders. Provide annual compliance and ethics training to all employees which are just one element of comprehensive compliance and ethics program.Not only Encik Zayed and Puan Hashimah as the directors, but all the top management, employees, and the Company Secretary of the company should be responsible and accountable as well. Although Encik Zayed and Puan Hashimah are the directors of the company, the officers should also support and give opinion in every decisions taken by directors. Employees below the officer level will have job titles and descriptions designed to meet the corporate goals as set by the directors. Company Secretary at all times should to assist the company towards proper objectives.In small businesses such as Delima Enterpri se, other duties commonly undertaken by company secretaries may include entering into contractual agreements with suppliers and customers and managing office space and property and dealing with personnel administration In regards of the improper documentation and transaction records includes the sales invoice and purchase order, the MYOB programmed was not integrated and several pages of the Account Receivables listing is missing may impact of time consuming and fraud may happened.Therefore, they should use updated to latest accounting software which is MYOB to improve the accounting system, the monthly statement of accounts send on time to remind the outstanding balances, they should prepare a proper filing documentation based on book keeping process for easy references and ensure all the transactions are pre numbered accordingly. Besides than that, the employees prepare their own attendance without any supervision also may lead to fraud and work inefficiency. They should assign su pervisors to manage the timesheets for time in and time out of the employees and get an approval from the directors.The salary and wages are paid in monthly basis including EPF and SOCSO based on the approved timesheet. There is no Standard Operating Procedure as all the decisions are authorized by En Zayed and Puan Hashimah, there is no reconciliation performed for each accounts and withdrawals are made from the company without proper documentation. Each department should implement the SOP and ensure they are compliance to the SOP in every decision making and documentation that have been made or prepared.There is problem from Human Resource manager where En Salam hire unqualified and inexperience employees to conduct the professional task and caused the employees not able to perform their work well due to lack of knowledge and give a bad reputation of the company indirectly. For a better performance, HR manager should hire more qualified employees and implement SOP during the emplo yees’ recruitment. For those who are not well recognized the SOP, employer should provide the training either for a new or existing employees.Below are the proposed organizational charts for the Delima Enterprise Sdn Bhd. So as a conclusion, there are some improvement that need to be done for a better leadership and management in future such as constructively and restructure the organizational and draft the applicable Standard Operating Procedure (SOP) for the company to operate effectively and efficiently. They should focus to the quatitative and quanlitative characteristic that should be implement and practices by the employees in the whole organization.Assessment and decision making organizational should be restructure enables employees to participate and contribute fresh ideas and support or argue some issues that they feels unease and may lead to a bad performance of the organization. Each level of management should understand their job description so that more quality j ob is performed and avoid the task redundancy among the employees. In addition to that, they should prevent any breach of fiduciary responsibilities sufficient control mechanisms in order for the organization are compliance to law or any rules and regulations. A Dilema Enterprise Delima Enterprise was founded in 1981 by En Zayed. The main business are trading and supplying related products including manpower supplies to the oil and gas industries. The enterprise was incorporated in 2004 as Delima Enterprise Sdn Bhd, with En. Zayed and his wife Puan Hashimah, as the controlling directors and two principal shareholders. The company activities had expanded into provision of engineering services as part of their business diversification and expansions plan.In May 2006, the company had secured a contract worth RM750,000 to be implemented over 6 months. Due to shortage of fund, company need to apply loan from Malayan Banking Berhad and CIMB Berhad totalling RM 1 million. In order to get the loan, they had to provide audited financial statements for the last two years. In July 2006, Encik Zayed engaged the external Auditor Aziz & Co. to perform the statutory audit for period 2003 to 2006. However, due to lack of knowledge about corporate administration, there are is sues arose that need to be settle by them.Furthering the discussion, there are some highlighted problems and issues that arise such as Encik Zayed and Puan Hashimah who are the Directors of the organization were not familiar with Accounting Standards and the provisions of the Companies Act 1965 and their roles and duties as company directors. Besides than that, all the employees did not have the necessary job experiences and good background of studies and most of them are among the family members of the directors.In addition to that, all the records are not organized and filed accordingly. For example like the sales invoices and purchase order are manually prepared and not pre-numbered. There were long outstanding collections from trade debtors as the Monthly Statements of Accounts was not sent to customers on monthly basis. In fact, the standard operating procedure was not in place. Several assets purchased by the company were not recorded and overpayments made to Trade Creditors a nd some personal withdrawals and expenses were charged to the company.Whereas the unrecorded cash withdrawals and cash and Banks balances were not well reconciled. Based on those problems the role and responsibility of Encik Zayed and Puan Hashimah as the Directors of Delima Enterprise Sdn Bhd should play a significant role in determining the future of the organization, establish the vision, mission and policies of the organization, set the strategy and structure and well delegate the authority to management. They should have the duty to act bona fide in the interests of the company. This duty is the most basic of all duties.What is meant by bona fide and in the best interests of the company is that both directors must at all times ensure that their actions are consistent with the well being of the company’s and they should not place themselves in a position where there is a conflict between their duty to the company and their personal interest or duties of shares. In additio n to that, directors should not make any profit out of the position as the director. Yes, in this case there are abuses of power by management and breach of fiduciary on part of the directors as there is a conflict between Encik Zayed’s duty to the company and his personal interest.For example, personal vehicle expenses for Encik Zayed and Puan Hashimah totaling RM50,150 charged to the company during 2005. They should at least prepare documents for anything they used for their personal so that later they can pay back to the company. Besides, he tried to negotiate with the Auditor to not qualify the Financial Statement, failing which Encik Zayed planned to terminate the auditor’s appointment and appoint new â€Å"friendly-party† auditor to negotiate.They also hired their own family members Puan Balqis and Encik Salam as Operations Manager and Human Resources and Administration Manager respectively. Encik Zayed was not willing to commit and invest on necessary tra ining to enhance the knowledge of the employees. Directors are responsible to provide corporate social responsibility and oversee management in order to implement an effective ethics corporate programs to safeguard interest of different stakeholders. Provide annual compliance and ethics training to all employees which are just one element of comprehensive compliance and ethics program.Not only Encik Zayed and Puan Hashimah as the directors, but all the top management, employees, and the Company Secretary of the company should be responsible and accountable as well. Although Encik Zayed and Puan Hashimah are the directors of the company, the officers should also support and give opinion in every decisions taken by directors. Employees below the officer level will have job titles and descriptions designed to meet the corporate goals as set by the directors. Company Secretary at all times should to assist the company towards proper objectives.In small businesses such as Delima Enterpri se, other duties commonly undertaken by company secretaries may include entering into contractual agreements with suppliers and customers and managing office space and property and dealing with personnel administration In regards of the improper documentation and transaction records includes the sales invoice and purchase order, the MYOB programmed was not integrated and several pages of the Account Receivables listing is missing may impact of time consuming and fraud may happened.Therefore, they should use updated to latest accounting software which is MYOB to improve the accounting system, the monthly statement of accounts send on time to remind the outstanding balances, they should prepare a proper filing documentation based on book keeping process for easy references and ensure all the transactions are pre numbered accordingly. Besides than that, the employees prepare their own attendance without any supervision also may lead to fraud and work inefficiency. They should assign su pervisors to manage the timesheets for time in and time out of the employees and get an approval from the directors.The salary and wages are paid in monthly basis including EPF and SOCSO based on the approved timesheet. There is no Standard Operating Procedure as all the decisions are authorized by En Zayed and Puan Hashimah, there is no reconciliation performed for each accounts and withdrawals are made from the company without proper documentation. Each department should implement the SOP and ensure they are compliance to the SOP in every decision making and documentation that have been made or prepared.There is problem from Human Resource manager where En Salam hire unqualified and inexperience employees to conduct the professional task and caused the employees not able to perform their work well due to lack of knowledge and give a bad reputation of the company indirectly. For a better performance, HR manager should hire more qualified employees and implement SOP during the emplo yees’ recruitment. For those who are not well recognized the SOP, employer should provide the training either for a new or existing employees.Below are the proposed organizational charts for the Delima Enterprise Sdn Bhd. So as a conclusion, there are some improvement that need to be done for a better leadership and management in future such as constructively and restructure the organizational and draft the applicable Standard Operating Procedure (SOP) for the company to operate effectively and efficiently. They should focus to the quatitative and quanlitative characteristic that should be implement and practices by the employees in the whole organization.Assessment and decision making organizational should be restructure enables employees to participate and contribute fresh ideas and support or argue some issues that they feels unease and may lead to a bad performance of the organization. Each level of management should understand their job description so that more quality j ob is performed and avoid the task redundancy among the employees. In addition to that, they should prevent any breach of fiduciary responsibilities sufficient control mechanisms in order for the organization are compliance to law or any rules and regulations.