Enron Case - 7190 Words

The Enron Accounting Scandal Presented By: Jennifer Buondonno Nirmala David Robert Pufky Matt Rollings ENRON Page 1 of 27 Table of Contents Executive Summary†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..3 (I) Introduction to the Enron case and the organizations involved†¦Ã¢â‚¬ ¦. 5 Background information industry†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 5 Organizations and officers involved†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..6 Accounting firm and partners involved†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.8 Enron’s industry†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 9 Enron’s injured parties†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 10 (II) Enron’s accounting fraud and misrepresentation†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 11 Explanation of the fraud†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 11 Damages incurred†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦12 Final outcome of the Case†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 13 How the†¦show more content†¦Enron’s attempt to create a constellation of partnerships that would allow managers to shift debt and losses off of the books would soon fail. In Au gust of 2001, the now infamous internal whistle blower Sherron Watkins, formerly the Enron Vice President for corporate development, sent an 1 www.washingtonpost.com/wp-srv/business/enron/front.html ENRON Page 5 of 27 email to Kenneth Lay, warning him that Enron would â€Å"implode in a wave of accounting scandals †. CEO Jeffrey Skilling suddenly resigns, two months after the memo was sent to Lay. Enron, with the help of the Andersen Accounting firm, would lose control of their illegal attempt to conceal the debt and losses of the company. Ultimately, Enron would become bankrupt. This scandal is the one of America’s largest investigations into a firm’s illegal accounting practices and attempt to conceal it from the shareholders and credit lenders. Organizations and Officers Involved To unmask the Enron scandal and find out what really happened, several organizations and officers of Enron are working together. Among the organizations responsible for unfolding the Enron scandal are the United States Congress, US Department of Justice, IRS, Securities and Exchange Commission, and the United States penal system. Congress is now responsible for combing through thousands of documen ts and scheduling hearings in the court system. The US Department of Justice isShow MoreRelatedEnron Case1075 Words   |  5 PagesMINI CASE: THE FILURE OF CORPORATE GOVERNANCE AT ENRON 1.Which parts of the corporate governance system, internal and external, do you believe failed Enron the most? In the evaluation of the Enron’s case; by trying to see the very big picture, it is not only about that the internal part of the corporate governance system was failed or but also the external part of the corporate governance system was also failed. As noted on the last paragraph of the mini case, many people from different positionsRead MoreEnron Case1899 Words   |  8 PagesENRON CASE Please read the Enron cases posted on blackboard and the one in your book then answer the following questions based upon the case and Chapter 9. Make sure that your answers are supported by the facts of the case and the concepts you learned from Chapter 5. Please rely only on the case/chapter 9 to answer the questions except for question # 12—requires outside search. Make sure your answers are sufficiently brief, concise, and relevant to the question. Please avoid generalRead MoreEnron Case2186 Words   |  9 PagesPart B: What role did the CFO play in creating the problems that led to Enron’s financial problems? In order to prevent the losses from appearing on its financial statements, Enron used questionable accounting practices. To misrepresent its true financial condition, Andrew Fastow, the Enron’s CFO, takes his role involving unconsolidated partnerships and â€Å"special purpose entities†, which would later become known as the LJM partnership. Taking advantage from the SPEs’s main purpose, which providedRead MoreEnron Case2402 Words   |  10 Pages Imane Malihi Prof. Fred Friend BLW411/511 March 27, 2014 The Downfall of Enron Corporation â€Å"Ethics and integrity are at the core of sustainable long term success †¦ Without them, no strategy can work and, as Enron has demonstrated, enterprises will fail. That’s despite having some of the ‘smartest’ guys in the room.† by Richard Rudden. As the quotation states, ethics and integrity play a key role in the success of any corporation; through these principles, companies can ensure their complianceRead MoreThe Case Of The Enron Case Essay1197 Words   |  5 Pages1.1. One of the most important fraud cases in the USA was The Enron case because of his criminal activity which involved a big part of USA. Let me give a short introduce about it, â€Å"In 1974, Kenneth Lay joined the Florida Gas Company, eventually serving as president of its successor company, Continental Resources Company. In 1981, he left Continental to join Transco Energy Company in Houston, Texas. Three years later, Lay joined Houston Natural Gas Co. as chairman and CEO. The company merged withRead MoreENRON Case Study1572 Words   |  7 Pages1. The Enron debacle created what one public official reported was a â€Å"crisis of confidence† on the part of the public in the accounting profession. List the parties who you believe are most responsible for that crisis. Briefly justify each of your choices. Following parties are believed to be the most responsible for the crisis. With any big organization going so bad, the blame starts with the top level executives, there was no different in this case. For Enron the blame started with Enron’sRead MoreCase: 9 Enron928 Words   |  4 PagesCase 9: Enron; Questionable Accounting Leads to Collapse Bruce Smith Minnesota School of Business BS430 Business Ethics MR. Morris November 25, 2012 1. 2. 1. How did the corporate culture of Enron contribute to its bankruptcy? Effective leaders are good at getting followers to their common goals or objectives in the most effective and efficient way; unfortunately for Enron, in the end Ken Lay and Jeffery skilling were too focused on profits that nothing else mattered. In theRead MoreEnron Case2918 Words   |  12 Pagesseemed eliminate confidence by the business world about the practice of good corporate governance in the United States. Enron was a company that was ranked as seventh out of the five hundred leading companies in the United States and is the largest U.S. energy company that went bankrupt leaving debts amounting to nearly U.S. $ 31.2 billion. In instance with the case of Enron known occurrence of moral threat behavior such as manipulation of financial statements with a record 600 million dollar profitRead MoreEnron Case Study5921 Words   |  24 PagesEnron Case Study [pic] Part A: Problem Focused Analysis and Recommendations. 1. Brief Case Background. List key events, use timeline. Case Background At one time Enron was one of the world’s largest producers of natural gas, oil, and electricity. It also appeared to be one of the most profitable companies, taking shareholders from $19.10 in 1999 to $90.80 by the end of 2000. Enron’s top management answered to a Board of Directors whose responsibility was to question and challenge new partnershipsRead MoreThe Ethics Of The Enron Case1407 Words   |  6 PagesThe Enron case is a very popular case to show how the profession of accounting is vital to make the corporate world of business flow reliably. Enron was recognized as one of the world’s major electricity, natural gas, communications and pulp and paper’s company. However Enron was found to record assets and profits at inflated, fraudulent and non-existent amounts. Debts and losses were found to be excluded from financial statements along with other major transactions between Enron and other companies

Persuasive Communication Cell Phones in School - 656 Words

Assignment Part A Cell Phones in School: Persuasive Map Personal Opinion: Students should NOT be permitted to carry their cell phones to school Reason 1: Cell phones could bring about unnecessary disruptions to the learning environment Reason 2: Students could use cell phones to cheat during exams Fact to Support Reason 1: Researchers have found out that the amount of time children spend online has an impact on not only their class concentration levels but also their ability to pay attention Fact to Support Reason 2: More than a third of students have in the past admitted to having used their cell phones to cheat during a test Source for Reason 1 Bloxham, Andy. Social Networking: Teachers Blame Facebook and Twitter for Pupils Poor Grades. USNews, 2010. Web. 15 August 2013 Source for Reason 2 Miners, Zach. One Third of Teens Use Cell Phones to Cheat in School. The Telegraph, 2009. Web. 15 August 2013 Assignment Part B: Review of the Persuasion Map Part 1: Letter Entry My Name Belmont, CA 73738 August 15, 2013 Mr. Martin Silverman ABC University 118 Indoor Road Mason, OH 783990 Dear Mr. Silver Man: Cell Phones in School Whether or not students should be permitted to carry their cell phones to school has been one of the most hotly debated issues in recent times. Personally, I am of the opinion that students should not be allowed to carry their phones to school. It is important to note that in recent times, quite a number of learning institutions haveShow MoreRelatedPersuasive Essay : Student Cheating729 Words   |  3 Pages Student Cheating Persuasive Essay It’s no secret that every teacher as encountered one of their students cheating off one another; whether because they didn’t study the night before or because in their mind, they felt the need to. Nowadays, in many schools; student cheating is a very common case that’s occurring much more often and occur for various reasons. Whether it may be unpreparedness, lack of time management or focusing on the lesson. Student cheating couldn’t possibly be stopped by administratorsRead MorePersuasive Speech Outline On Cell Phones1598 Words   |  7 PagesMolly Krumholz Alex Teran CMN 112 Team Persuasive Speech Preparation Outline Cellphone Use within Schools Specific Purpose: To persuade my audience why cell phones should not be banned in schools. Central Idea: The use of cell phones in school is great for educational purposes, social life, and as a safety tool Introduction I. In today’s society, the use of mobile devices has taken over our lives in every way possible. II. Although this has been viewed by many as having a negative impactRead MorePersuasive Paper Part 3: Possible Disadvantages, Answers, with Visuals1443 Words   |  6 PagesAssignment 5: Persuasive Paper Part 3: Possible Disadvantages, Answers, with Visuals Cell Phones and Driving – A Convenience or a Law Problem or Both? With technology constantly on the rise, a growing problem on the roads today is the use of cell phones while driving. Although cell phones are a great convenience, there are people everywhere that use their cell phones as they are traveling in their vehicles and it is dangerous. Strict laws should be developed and enforced regarding the use of cell phonesRead MoreCyber Bullying And Its Effects On Society1283 Words   |  6 PagesAbstract Social media has become a well known pastime for individuals of today’s society. There are various social media sites, such as Facebook, Twitter, and SnapChat that have open doors for communication and entertainment among people all across the world. Despite the positivity of social media, it is also now being used to cause harm to people. Cyber bullying differs from traditional physical bullying, because it occurs through emails, texts, or social media. The person behind the computerRead MorePositive Thinking And Its Effect On Children1338 Words   |  6 Pageswill benefit lives. Removing negative surroundings and applying positive ideas is how many choose to allow positivity into their lives. What is Cancer? Cancer is defined as a disease of which abnormal cells divide with no control to invade other tissues throughout a body. These abnormal cells spread throughout the body within the blood and lymph systems. Cancer has developed into having over 100 types, all names after the location of where the cancer is first discovered. The different types ofRead MoreAssignment 3: Persuasive Paper Part 1: a Problem Exists Due Week 5 and Worth 150 Points1819 Words   |  8 PagesAssignment 3: Persuasive Paper Part I: A Problem Exists Research Topic 10) Should regulations regarding the use of cell phones while driving be standardized? Distracted Divers: Are the Same in Every State Maria Taylor Strayer University: Asynchronous English 215: Research and Writing February 7, 2015 Distracted Driver: Are the Same in Every State Over the last four decades, mobile devices have become the trademark of our society.cell phones and other mobile devicesRead MoreThe Scarlet Letter, By Nathaniel Hawthorne Essay1287 Words   |  6 PagesThe blinds on the windows are shut, it feels like a prison cell as I sit under the spotlight. The darkness outside makes me feel somber and alone. I stare at the glowing screen and think to myself, â€Å"It’s just me and this paper.† In December of my junior year in high school, I was assigned a persuasive essay on Nathaniel Hawthorne’s novel, The Scarlet Letter; it was my first academic essay of the year. My previous experiences with academic writing were both stressful and unfulfilling; when theRead MoreSocial Communication Reflection1167 Words   |  5 Pagesneeded to be understood about writing in the business field, and I pursued an option that I felt was important to address. The last piece took form as an online article published on the platform â€Å"medium.com†. In the article, I worked to make a strong persuasive argument in favor of technology in the classroom. This was not a general argument about the value of technology, but a more specific argument about the value of integrating social writing and short genres into the classroom in a productive way.Read MoreCommunication: An Integral Component of Organizational Leadership1585 Words   |  6 PagesIntroduction The concept of communication is an integral component of organizational leadership (Hackman Johnson, 2009).Pohrte (2010) noted that people in leadership position must learn take the responsibility of discharging effective communication when dealing with other people. In this paper, we perform an in-depth analysis of the communication issues that affect the everyday leadership of our organizations. The importance of communications in leadership A literature review indicates thatRead MoreThe Effects Of Consumerism On Children s Lives1522 Words   |  7 PagesChildren are bombarded with consumerism from the moment they wake up, until the moment they go to bed at night. For the past two decades, billions of dollars have been spent per year on advertising that targets children. These ads expose children to persuasive messages through media outlets such as television and the Internet. Children are inundated with marketing about the importance of brand identity and image. Marketers plant seeds of brand recognition in very young children, in the hopes that the

Euthanasia Is A Controversial Issue - 2395 Words

As medical technology advances, people are able to become healthier and have a longer life. There are many moral issues between life and death. And we know that death is a stage of life and no one are able to control it. Imagine that you are in a pain of a deadly disease and there are no treatments are available to you, would you choose to live? Or would you choose to die? The answer to this question are subject to the person, everyone would come up with a different answer. The desire of individuals to choose to die instead of suffering, some people believe that it is the human right to choose of every person. However, legalizing euthanasia is a controversial issue and a much debated problem in the United States. To understand more about the different sides of euthanasia, it is best conceived through the causes of euthanasia, different viewpoints and the perspectives of proponents of euthanasia. First, it is relevant to have an overall understanding of euthanasia. According to American Heritage Dictionary, euthanasia refers to â€Å"the act or practice of ending the life of a person having a terminal illness or a medical condition that causes suffering perceived as incompatible with an acceptable quality of life, as by lethal injection or the suspension of certain medical treatments.† The word â€Å"euthanasia† can be traced as far back as in the ancient Greek and Roman civilizations and it literally means a good death. (American Heritage Dictionary) According to the Medical NewsShow MoreRelatedThe Controversial Issue Of Euthanasia1680 Words   |  7 PagesEuthanasia For a long time, euthanasia has been a controversial issue in countries all around the globe. However, with active technological progress, this topic becomes more urgent than 50 years ago. Undoubtedly, it is influenced by many factors. One of the leading debatable points is the invention and improvement of artificial life support devices. It is impossible to overestimate the importance of this theme as it is related to the most important value of each person – their life and lives of theirRead MoreThe Controversial Issue Of Euthanasia958 Words   |  4 PagesIn discussions of terminal illness, one controversial issue has been the legalization of euthanasia. On one hand, people contend that they should have the right to choose to die painlessly. On the other hand, skeptics argue that patients with a terminal illness should let nature run its course. Others even maintain that it devalues life. My own view is that people should have the right to choose assisted suicide. Euthanasia is the act or practice of killing or permitting the death of hopelesslyRead MoreThe Controversial Issue Of Euthanasia1150 Words   |  5 PagesEuthanasia should not be legalised in Australia. Good morning 10C and Ms Leoni, Today I am here to talk about the controversial issue of euthanasia. This year, the Greens party has planned to introduce a ‘Rights of the Terminally Ill’ bill into state parliament. This has raised the issue of whether or not euthanasia should be legalised in Australia. Euthanasia is the practice of ending a person’s life in order to release them from an incurable disease or intolerable suffering. There are two typesRead MoreEuthanasi The Controversial Issue Of Euthanasia1650 Words   |  7 PagesAdelaide students think about legalising voluntary euthanasia in Australia? Introduction The purpose of this research is to seeking and analysing the opinions about legalising voluntary euthanasia within Adelaide students (aged 18-25 years old). With recent changes to legalisation of child euthanasia in Belgium, the controversial issue of euthanasia is currently being re-spotlighted all over the world. Ongoing active discussion on the legalisation of euthanasia mainly debates individual’s choices in endingRead MoreThe Controversial Issue Of Euthanasia1937 Words   |  8 PagesEuthanasia is defined as: the painless killing of a patient suffering from an incurable and painful disease or in an irreversible coma (Dictionary Reference). For countless years Euthanasia has been a controversial topic in the Canadian legal system. Many people believe that the act of assisting in a suicide should remain illegal because it can shorten the life of humans; however, others believe that assisting in a suicide should be legal only if the person in question is suffering from a te rminalRead More Euthanasia Essay - The Controversial Issue of Doctor-Assisted Suicide805 Words   |  4 PagesThe Controversial Issue of Doctor-Assisted Suicide      Ã‚   Imagine youu have just found out you are going to die within three months. Recently the questions have been changed form, What am I going to do with the rest of my life? to When should I kill myself?   With painful and crippling diseases such as AIDS and cancer, and Alzheimers along with doctors such as Dr. Kavorkian, some people are choosing death over life.   Doctor assisted suicide has been a very controversialRead MoreEuthanasia Essay1474 Words   |  6 Pagesï » ¿Kraig Ekstein Buck, Todd RELU 110 October 27, 2013 Euthanasia Throughout the world there are many contemporary ethical issues pertaining different religions throughout the globe. These issues have been around for many years and are still quite debated in today’s society. One of the most controversial issues is wither euthanasia is right or wrong. Euthanasia is an ongoing topic in religions throughout the world and each carries their own personal beliefs on the topic. In order to understand howRead MoreThe Centers For Disease Control And Prevention Released1181 Words   |  5 Pagesmajor issue everywhere in the world, but recently assisted suicide has come around the news as a new form of death. Although, assisted suicide had already been around since 500 B.C, the Ancient Greeks and Roman era (â€Å"Historical Timeline†). According to euthanasia.procon.org during that time, â€Å"Many ancient Greeks and Romans had no cogently defined belief in the inherent value of individual human life. . . physicians complied by often giving t heir patients the poisons they requested.† This issue wasRead MoreThe Morality Of Euthanasia By James Rachels1086 Words   |  5 PagesID: 3339147 Active Euthanasia Does James Rachels in â€Å"The Morality of Euthanasia† successfully argue that in at least some cases active euthanasia is morally acceptable? Explain his view and respond to it. In this essay, we are going to analyze the main ideas included in â€Å"The Morality of Euthanasia† by James Rachels to provide a response to the following question: Does James Rachels in â€Å"The Morality of Euthanasia† successfully argue that in at least some cases active euthanasia is morally acceptableRead MoreShould Euthanasia Be Legalized?1210 Words   |  5 Pagesdiagnosis, one of their main concerns is dying with dignity and not left to suffer a long and drawn out death. Euthanasia, also known as mercy killing, is a sensitive and very controversial subject. Several people believe, doctors should not participate in any action that ends a person’s life due to the Hippocratic Oath stating that doctors are obligated to save lives. Although, euthanasia is considered to be immoral and even murder, it should be legalized when a person’s quality of life, due to an

My Desired Leadership Style the Transformational Leader Free Essays

string(78) " my natural personality according to the traits of a transformational leader\." I aspire to be a transformational leader. Transformational leaders possess the unique to inspire their subordinates to be the best they can be. This leadership style can be used for good or bad some Dr. We will write a custom essay sample on My Desired Leadership Style the Transformational Leader or any similar topic only for you Order Now Martin Luther King Jr. and Adolf Hitler were both transformational leaders. No matter what the circumstances are that motivate a transformational leader, they must possess values that guide them through their leadership. There is no cookie cutter example of a transformational leader each leader has their own way of doing things but an authentic transformational leader must utilize certain skills, competencies, experiences, knowledge, and traits. I personally believe that it is very important for a leader to have a versatile leadership approach. As I have developed my leadership skills over the past few years I have experienced uncomfortable situations and different personalities than my own and I have had to evolve my or change my leadership style based on the circumstances that I was faced with. Although I have had to adopt some characteristics or traits from other leadership styles I believe my core leadership style would be considered transformational leadership. Based on what I know about myself and what I have learned from others is that I am currently a transformational leader, but I desire to be a better transformational leader. What is a Transformational Leader? Transformational leadership is a type of leadership style that leads to changes in those who follow. A leader who is transformational motivates by transforming the identities and goals of individuals to coincide with those of the group (Lovaglia, Lucas, Baxter, 2012). Transformational leaders have the innate ability to inspire their followers into action to achieve a common goal. For example during the 2008 presidential campaign Barrack Obama used his transformational leadership style by inspiring many, who had never voted before to get out and vote. Through his inspirational speeches, grassroots movement to register voters, and his seemingly American Dream come true life story he was able to, for a short period of time inspire and motivate an otherwise jaded and broken country that had been fractured among racial and economic lines for years to believe in and demand change. Transformational leaders are generally energetic, enthusiastic and passionate, and they invoke a since of ownership and pride in their followers. When faced with a problem or issue within an organization the transformational leader can create relay a message so that it is either accepted with enthusiasm or without contention. Instead of trying to force change on their subordinates the transformational leader creates an atmosphere of even exchanges of thoughts and ideas toward the changes. This type of leader seeks to motivate followers by transforming their conceptions of self and their private goals to coincide with the larger purposes of the group. Rather than working for money, employees work to be part of the success of a larger mission. The concept of transformational leadership was initially introduced by leadership expert and presidential biographer James MacGregor Burns. According to Burns, transformational leadership can be seen when â€Å"leaders and followers make each other to advance to a higher level of moral and motivation. † Through the strength of their vision and personality, transformational leaders are able to inspire followers to change expectations, perceptions and motivations to work towards common goals. Later, researcher Bernard M. Bass expanded upon Burns original ideas to develop what is today referred to as Bass’ Transformational Leadership Theory. According to Bass, transformational leadership can be defined based on the impact that it has on followers. Transformational leaders, Bass suggested, garner trust, respect and admiration from their followers. Bass suggested that there are four components of a transformational leadership which are intellectual stimulation, individualized consideration, inspirational motivation and idealized influence. Intellectual stimulation is when the leader encourages their followers to be creativity, the followers is encouraged to explore new ways of doing things. Recognizing that all followers are not the same is an important aspect of a transformational leader’s influence, offering support and encouragement to individual followers, that leads to an increased since of accomplishment and self-esteem is considered individualized consideration. Inspirational motivation is when the leader can invoke the same passion and enthusiasm that they have about a vision and goal, in their followers. On January 20, 1961 President John F. Kennedy inspired and an entire county with one sentence from his inaugural speech â€Å"ask not what your country can do for you — ask what you can do for your country†. This important quote inspired Americans to take action and make changes during the 1960’s the country changed the way it looked at civil rights, women’s liberation and war. Idealized influence is the same as leading by example, because followers trust and respect the leader they tend to model their behavior and actions after the leader and began to internalize and adopt the leader’s ideas. Modern Day Transformational Leader A good example of a modern day transformational leader is Bill Gates, former chief executive and current chairman of Microsoft, the world’s largest personal-computer software company, which he co-founded with Paul Allen. Bill Gates can be considered a transformational leader because he is regarded by his followers as an expert and visionary in his field, also has gained respect and credibility based on his past management experience. Through his philanthropic work and can do attitude he leads by example. Transformational leaders build trust in their leadership and attainability of their goals through an image of seemingly unshakable self-confidence, strength of moral conviction, personal example and self-sacrifice, and unconventional tactics or behavior. They are perceived to have unusual insight and ability to act in a manner consistent with their vision and values. Gates has managed to display most of the characteristics of a transformational leader. Why I selected this Leadership style? The reason I chose transformational leadership as my desired leadership style because this leadership style is most aligned with my natural personality according to the traits of a transformational leader. You read "My Desired Leadership Style the Transformational Leader" in category "Papers" I strive to be a transformational leader because transformational leaders in my experience are the most successful and have more respect and loyalty from their followers. Transformational leaders have the ability to make an impact on not only organizational growth but also the personal and professional growth of those that work for and with them. I want to be a transformational leader because I want to be a solution to the problem instead of complaining about or being part of the problem and I want to guide people to do the same. I live by the old adage â€Å"if you’re not part of the solution you are part of the problem†. Transformational leaders are part of the solution. Important Values The values I feel are important for me to model the transformational leadership style are adaptability, openness, enthusiasm, and morality. Adaptability is an important value for a transformational leader to have because they must adapt their leadership style to the different personalities, needs, and skills of their team. Act as a mentor or a coach more so than a boss. Assign and delegate work based on talents and interests, but also challenge their comfort zones. This was the value I struggle with the most because I am stubborn and I am at tine relentless in my beliefs and I sometime refuse to bend. In order for a transformational leaders to transform effectively they need to foster innovation by challenging assumptions about what can and cannot be done. React to mistakes and failures in a way that shows that risk-taking is condoned. Give support, provide resources, and remove barriers to change. Approach problems as learning opportunities. By showing that there is value in independent thinking and reward people who challenge. By allowing an atmosphere that promotes creativity and inspires change a leader has to be open to idea’s that are different. In order to guide a team in the direction the leader needs the group to go is by measuring and monitoring results in order to even began to inspire anytime of inspirational a leader needs to start with setting a vision, strategy, and goals. Then motivate them to bring their best by expressing the leader’s passion, by communicating with confidence and optimism, and connecting tasks to a greater purpose. It is important for a leader to have morals and lead by example, and act with integrity and ethical standards; with both behaviors and words. Just as small children mimic and emulate their parents, subordinates will take note of what their leader does and use it as a template for how they act and behave. It happens automatically and subconsciously, whether the behavior is positive or negative—people will follow a leader’s example. Model of a Transformational Leader In order to model the transformational leadership style there are certain skills competencies, experiences, knowledge and traits that a person needs to possess. According to the Piedmont Resources group a Real Estate consulting group and Small Business Advisor a transformational leader should possess 5 skills. Those skills are communicate vision and goals clearly and without uncertainty, being able to listen, collaborate and empower, build relationships, provide intellectual stimulation, and lead by example. In order for people to follow a leader a leader must be able to set the road map for the trip the group is about to take. A true leader provides a clear direction with confidence and certainty. Hearing a massage and listening to a message are not the same thing, they are not hearing is a biological process that can be scientifically explained, listening is a psychological phenomenon. Listening is the ability to process what you here. When a leader listens to their followers there collaboration becomes effective and then the leader can empower followers to create change. Relationship building is a given part of the leader and subordinate roles. Building Relationships that Work helps you revitalize the relationships that affect the quality and profitability of your business. It goes beyond strategies for influencing the behavior of others to provide a process for creating clear communications, effective collaboration, and relationships that achieve results (http://executiveeducation. wharton. upenn. edu, 2013). Transformational leaders stimulate the efforts of their followers as regards innovativeness and creativity, stimulate permanent reexamination of the existent assumptions, stimulate change in the way of thinking about problems, and plead the use of analogy and metaphor. The last and most important skill needed by a transformational leader is the ability to lead by example a transformational leader needs to show followers the correct behavior by modeling appropriate actions. For me I am fulfilling my dream of being a leader in my company. I feel that I possess most of the qualities of a transformational leader. My only problem is that I have I am fairly new and I do not have an extensive leadership background that is needed to be a strong transformational leader. I think that I possess all of the skills needed to be a transformational leader. In fact I was just evaluated 2 weeks ago by our company’s Vice President and I was complimented on being and effective and enthusiastic leader who turned a struggling team around. Conclusion Transformational leaders are individuals who with their own knowledge, imaginations and ability to influence the behavior of people, make conditions for transforming. The key to being a successful transformational leader is producing real change through people to achieve the company’s ultimate goal through inspiration rather than fear, intrinsic rewards rather than monetary rewards and creating an atmosphere of innovation. References http://executiveeducation.wharton.upenn.edu. (2013, July 13). Retrieved from The Wharton School :Aresty Institute of Executive Education: http://executiveeducation.wharton.upenn.edu/for-individuals/all-programs/building-relationships-that-work Lovaglia, M. J., Lucas, J. W., Baxter, A. (2012). The Transforming Leader: New Approaches To Leadership For The Twenty-First Century. (C. S. Pearson, Ed.) San Francisco, California: Berrett-Koehler Publishers, Inc. Shriberg, D., Shriberg, A. (2010). Practicing Leadership Principles and applications. Hoboken, NJ: John Wiley Sons, Inc. How to cite My Desired Leadership Style the Transformational Leader, Papers

Business Is Defined Of Individuals Person †Myassignmenthelp.Com

Question: Discuss About The Business Is Defined Of Individuals Person? Answer: Introduction In the business environment, a business organization is defined as a group of individuals or a person that works towards achieving certain commercial objectives and goals. As other businesses are formed with the sole purpose of earning income for owners, non-profit business organizations are formed with the aim of meeting public demands (Fournout, 2017). This paper is a presentation of an individual task that examines essential issues related to business as well as the context of its effective management. The paper aims at gaining a proper understanding of the contextual factors that affect the internal and external business environment, aspects that have both direct and indirect impact on the decision-making and the advancement of every business. The paper hence identifies hotel business as a hypothetical business opportunity as a potential business that can effectively perform in both developing and developed countries. Brief description of the business There is a fortunate improvement in the global economy, meaning that business owners and consumers can be more confident concerning their financial situations and goals (Saraswat, Anderson, Chircu, 2014). As an entrepreneur, I will focus on the hotel business as there is a good sign that the business can succeed as the improvement in the global economy can translate into more money spent on business trips and vacations. The vision of the business will be becoming the clients most trusted partner with the passion of providing high-quality hospitality services to all. It will start as a small size business and will later expand to other developing markets such as Kenya, South Africa, and China. The most effective organizational structure In every city, it is very common that one has to find a functioning hotel, both in developing and developed countries. These hotels often consist of large chains, privately owned facilities, or franchises. However, the performance of the hotels depends on many other factors that will determine whether it will be a choice of the customer within the area it is located or whether it can attract other external visitors (Fournout, 2017). The organization structure the business will adopt is hence an essential factor that will determine not only the performance but the success of the business as well. As a result, the business will adopt a functional organizational structure that will provide a hierarchy with a number of executives charged with the responsibility of overseeing the whole business operation. The organization will then be broken into functional groups such as housekeeping, front desk and concierge services, and food and beverage services. The administrative group of the busin ess will include the human resource, accounting, and sales services. Other related services that will help in maintaining the hotel, as well as its surrounding investments, will include security department, general maintenance, groundskeeping, and the engineering services. Each functional structure of the business will be directed or overseen by supervisors who will then report to me as the general manager of the organization. However, the number of employees each functional group will require will directly depend on the size, functional areas, and the flexibility of the business among other factors. According to Verbos (2016) a functional hotel organizational structure enables every area to focus on the specific tasks that can allow the employees to increase productivity. It is because the coordination efforts within a specialized or one functional area are more effective and easier than coordinating the efforts across the organization. As a result, every functional area can successfully achieve its goals. Internal and external environmental forces that can impact on the business Like any other business, the hotel industry faces many uncontrollable internal and external variables that affect those involved in the ownership and management, restaurants, and other hospitality establishments. Verbos (2016) denotes that some of these factors cannot be controlled, but their effects can be mitigated through careful anticipation and planning. These include; Economics- the external factors like economic situation facing the global business environment and stiff competition from other service providers can directly affect the business. For instance, when the economies become sour, the business will be affected due to a drop in the discretionary spending. Bosque (2014) also denotes that tourism and hotel business may experience difficulty in times of extreme economic challenges leaving the business dependent on the continued patronage within the business community. Legal changes- the changes in law can directly or indirectly affect companies and operations within the hospitality industry and can rarely be controlled. For instance, the regulatory environment within the hotel business can change in certain times hence affecting the way airlines, hotels, and restaurants all perform their businesses. A change in the laws regarding tax can lead to the rise in the prices of certain commodities essential for the business such as gas, food staff, etc. hence affecting the cost of services within the industry. Technology- The continuous technological advancement has a direct effect on the global businesses including the hotel industry that is directly affected by the technological advancements (Allet Hudon, 2015). As new technologies are coming into the market, the business will be forced to adapt to the changes to remain updated and competitive in its services. Possible risks that can confront the business The entire success in the performance of the hotel will always depend on the entire operation process (Beck, 2015). In other words, in case a particular functional area is operating as required, the entire business operation can be affected. For instance, in case the guests experience an interactive front desk service, but the rooms are not clean, the overall satisfaction rating of the hotel can be affected. Knowing what the internal and external factors affecting the business are is essential in the provision of the contingency planning required in the business. Competition is also a factor that greatly affects the hotel business and determines the success of every new business within the hospitality industry Rhoden and Alexieva (2011). It can be caused by the economies and the regulatory factors within the area of operation of the business. However, offering competitive and high-quality services will be pillars of the business to help in ensuring the business remain competitive despite the challenges from other hotel businesses. Business practices that can enhance the performance of the organization The performance of a business is often dependent on the certain business practices that when adopted, will determine the level of success in its performance irrespective of the industry in which it operates (Saraswat, Anderson, Chircu, 2014). The business practices adopted should focus on ensuring that the objectives of the business are achieved within its sectors as well as the overall performance of the business. As a result, the business will adopt the following practices that will later become part of the business culture; Performance appraisal Training and development Competitive services Adopt the relevant technology in its operations Important functions within the business organization and relation to performance According to Williams and Zehner (2017), the financial budgets and operations of a hotel are often supervised by an executive with the general manager as the job title. At the same time, other businesses within the hotel industry tend to employ an assistant general manager reporting to the general manager since the hotel business is typically a 24-hour operation of guest accommodation. Hence, an evening shift supervisor will also be required to ensure a successful operation of all the operations within the working hours. With the nature of the organizational structure that the business will adopt, the manager of the hotel will be required to promote teamwork across all the functional areas of the business. In doing so, the management will be able to identify areas that need improvement and quickly improve the performance of any department in case it is not meeting the standard of performance required by the organization. Conclusion Health is as well an essential component of the hotel business. Studies show that the general cleanliness of the hotel environment, as well as the workers, often contributes to 80% in determining the level of customer satisfaction an aspect that determines why other hotels are more preferred by clients than others. Ensuring that cleanliness is at the top within the business will be our major goals, an aspect that will go together with the quality of services offered by the organization. References Allet, M. m., Hudon, M. m. (2015). Green Microfinance: Characteristics of Microfinance Institutions Involved in Environmental Management.Journal Of Business Ethics,126(3), 395-414. Beck, B. (2015). Hospitality manifested in confabs, eateries.Indianapolis Business Journal,36(42), 164. Bosque, I. r. (2014). Exploring the Role of CSR in the Organizational Identity of Hospitality Companies: A Case from the Spanish Tourism Industry.Journal Of Business Ethics,124(1), 47-66. Fournout, O. o. (2017). The Hero- Leader Matrix in Business and Cinema.Journal Of Business Ethics,141(1), 27-46. Rhoden, S., Alexieva, I. (2011). Success in hotel management: Implications for M-level course design in Bulgaria.Journal Of Hospitality, Leisure, Sport Tourism Education (Oxford Brookes University),10(2), 30-49. Saraswat, S. s., Anderson, D. d., Chircu, A. a. (2014). Teaching Business Process Management with Simulation in Graduate Business Programs: An Integrative Approach.Journal Of Information Systems Education,25(3), 221-232. Verbos, A. K. (2016). Embedding the PRME in Business Law Classes.Journal Of Higher Education Theory Practice,16(4), 11-24 Williams, C. L., Zehner II, W. B. (2017). Ferengi business practices in Star Trek: Deep Space Nine - to enhance student engagement and teach a wide range of business concepts.E-Journal Of Business Education Scholarship Of Teaching,11(1), 19-56.

Sales and Monitoring Essay Example

Sales and Monitoring Essay Sales and Monitoring BY strawHat27 Chapter I The Project and its Background Inventory and Monitoring System is an effective way for monitoring and tracking different products and materials that are transferred in and out of a companys warehouse or establishment, store or market place usually for accounting purposes. It is also important for a company to monitor all the transactions, events or movements of goods in order to keep an account of all their stocks. However in some establishments or company, the inventory of the product is done manually in such a ay that an employee writes down the information of different products every time it is transferred in and out of the room. The same case applies in CLB Property Office; and as a result, the inventory and monitoring system becomes prone to human error and would be more time consuming which will most likely be a loss for the institute. In CLB Property Office, there is a corresponding form for every incoming or outgoing item (from the stock room). These forms serve as the basis of comparison when inspecting; that is, the amount of item that goes in or out must tally with those ritten in the forms. Afterwards, all the forms and records used in the transactions will then be kept for future reference. Besides, inventories are being computed every day without any tally or documentation for everyday inventory. We will write a custom essay sample on Sales and Monitoring specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Sales and Monitoring specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Sales and Monitoring specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Their inventory is being done once a week, but most of the time, monthly. In addition to the complexity of the process, the employee responsible on this task also needs to check the stocks once in a while so as to monitor which items are already getting below the allowable minimum quantity. Because of the draining work, there were circumstances when he inventory record in the admin does not tally with the actual amount of the available items. Another thing to consider in manual inventory is prone to errors since it is unavoidable that the employee assigned to do the sales and inventory would commit mistakes. Introduction Technologies have been a very important role in our daily lives. It helps us to make our works easier and faster. This modern technology has helped us develop more advance system to the community. System that have features and capabilities to provide the needs of the people. Many systems and technologies have been developed especially nowadays.

The Treaty of Kanagawa Opened Japan to Trade

The Treaty of Kanagawa Opened Japan to Trade The Treaty of Kanagawa was an 1854 agreement between the United States of America and the government of Japan. In what became known as the opening of Japan, the two countries agreed to engage in limited trade and to agree to the safe return of American sailors who had become shipwrecked in Japanese waters. The treaty was accepted by the Japanese after a squadron of American warships anchored in the mouth of Tokyo Bay on July 8, 1853. Japan has been a closed society with very little contact with the rest of the world for 200 years, and there was an expectation that the Japanese Emperor would not be receptive to American overtures. However, friendly relations between the two nations were established. The approach to Japan is sometimes viewed as an international aspect of Manifest Destiny. The expansion toward the West meant that the United States was becoming a power in the Pacific Ocean. American political leaders believed their mission in the world was to expand American markets into Asia. The treaty was the first modern treaty Japan negotiated with a western nation. While it was limited in scope, it did open Japan to trade with the west for the first time. The treaty led to other treaties, so it sparked enduring changes for Japanese society. Background of the Treaty of Kanagawa After some very tentative dealings with Japan, the administration of President Millard Fillmore dispatched a trusted naval officer, Commodore Matthew C. Perry, to Japan to attempt to gain entry to Japanese markets. Along with the potential for commerce, the United States sought to use Japanese ports in a limited manner. The American whaling fleet had been sailing farther into the Pacific Ocean, and it would be advantageous to be able to visit Japanese ports to load supplies, food, and fresh water. The Japanese had firmly resisted visits from American whalers. Perry arrived at Edo Bay on July 8, 1853, carrying a letter from President Fillmore requesting friendship and free trade. The Japanese were not receptive, and Perry said he would return in one year with more ships. The Japanese leadership, the Shogunate, faced a dilemma. If they agreed to the American offer, other nations would no doubt follow and seek relations with them, undermining the isolationism they sought. On the other hand, if they rejected Commodore Perrys offer, the American promise to return with a larger and modern military force seemed to be a serious threat. Perry had impressed the Japanese by arriving with four steam-powered warships which had been painted black. The ships appeared modern and formidable. The Signing of the Treaty Before leaving on the mission to Japan, Perry had read any books he could find on Japan. The diplomatic way in which he handled matters seemed to make things go more smoothly than otherwise might have been expected. By arriving and delivering a letter, and then sailing away to return months later, the Japanese leaders felt they were not being overly pressured. And when Perry arrived back in Tokyo the following year, in February 1854, leading a squadron of American ships. The Japanese were fairly receptive, and negotiations began between Perry and representatives from Japan.. Perry brought along gifts for the Japanese to provide  some idea of what American was like, He presented them with a small working model of a steam locomotive, a barrel of whiskey, some examples of modern American farming tools, and a book by the naturalist John James Audubon, Birds and Quadrupeds of America. After weeks of negotiation, the Treaty of Kanagawa was signed on March 31, 1854. The treaty was ratified by the U.S. Senate as well as by the Japanese government. The trade between the two nations was still quite limited, as only certain Japanese ports were open to American ships. However, the hard line Japan had taken about shipwrecked American sailors had been relaxed.  And American ships in the western Pacific would be able to call on Japanese ports to obtain food, water, and other supplies. American ships began mapping the waters around Japan in 1858, a scientific effort which was viewed as having great importance to American merchant sailors. Overall, the treaty was seen by Americans as a sign of progress. As word of the treaty spread, European nations began approaching Japan with similar requests, and within a few years more than a dozen other nations had negotiated treaties with Japan. In 1858 the United States, during the administration of President James Buchanan, sent a diplomat, Townsend Harris, to negotiate a more comprehensive treaty. Japanese ambassadors traveled to the United States, and they became a sensation wherever they traveled. The isolation of Japan had essentially ended, though factions within the country debated just how westernized Japanese society should become. Sources: Shogun Iesada Signs the Convention of Kanagawa.  Global Events:  Milestone Events Throughout History, edited by Jennifer Stock, vol. 2: Asia and Oceania, Gale, 2014, pp. 301-304.   Munson, Todd S. Japan, Opening of.  Encyclopedia of Western Colonialism since 1450, edited by Thomas Benjamin, vol. 2, Macmillan Reference USA, 2007, pp. 667-669. Matthew Calbraith Perry.  Encyclopedia of World Biography, 2nd ed., vol. 12, Gale, 2004, pp. 237-239.