Financial Analysis Coca-Cola and PepsiCo Essay

We will be comparing two companies; both are strong and have great credibility. Ideally with a solid competitor we want to show differentials and make a solid contrast. In this case we want to compare at least two years of financial data. A great way to exemplify this is to compare Coke to Pepsi. To say which one is better to drink is debatable, but what we are looking at is which is better to invest in. We will analyze the information provided in the appendixes and make a conscience decision as to which company is stronger, therefore a smarter investment choice. After all, I wouldn’t want you to throw your money down the drain. The three main characteristics used to determine a company’s success are liquidity, solvency, and of course profit. The aspects, when analyzed, can help you decide which is more successful and financially honored as a better investment. This can also help someone decide which is more successful and financially stable. While we look at these statements I would like to keep in mind how good it is to look at trend over time. This opens our next concept which is vertical and horizontal analysis. By taking a step back and going over the ratio analysis which is composed of the three main characteristics, we are able to see what has happened during the time period we compare with. Hence us making our intelligent investment decision. Going back, ratio analysis is where we divide two numbers in order to get a percentage which we will compare to the competitor. First characteristic is liquidity. This is where we see the company paying their debts, and on time. This is very similar to an individual person’s credit score. Are they paying their bills? This shows financial responsibility and that is a very important component in investments. The information is typically shown as a ratio or percentage of the liquid assets. The higher the ratio the bigger the safety margin is in which the corporation will fulfill their debts. You wouldn’t rent a home to someone with bad credit. Nor would you loan someone money if they had a bad tendency to not be responsible with money. Going back to business mind state, we can look at the potential ability to turn a good or service into profit. This is crucial to investing. It’s also crucial to compare companies within the same industry. It seems logical initially but there are ratios and formulas that are used that operate most efficiently when comparison is done within similarities. So, let’s get on with the fun stuff already! PepsiCo’s Balance Sheet and Liquid Ratio (Remember, we are dividing the current asset with the liabilities for both years, not dividing the annual comparison. Meaning; do not divide the two numbers next to each other. This is the essential difference between horizontal and vertical analysis. ) Current ratio 2005=10,4549406=1.11 Current ratio 2004= 86396752=1.28 Just to make a quick observation before we move on the ratio of 2005 is 1.11:1 and in 2004 it is 1.28:1. We now have the ratios; let’s get the percentage of total assets from cash and equivalents. Then we will do Coca-Cola’s and compare. Percentage of cash for 2005=1716 (cash and equiv)10454 (total assets)= .1641 Percentage of cash for 2004=12808639= .1481 That’s 16.41% for 2005 and 14.81% for 2004. This is solid statistic and I don’t really see much room for improvement based on the information found. It seems to be a solid bet, but we are far from done. Coca-Cola’s Balance Sheet and Liquid Ratio (Again, remember to divide the total asset with total liability.) Current ratio 2005=10,2509,836=1.042 Current ratio 2004=12,28111,133=1.103 So the ratio is 1.042:1 for 2005 and 1.103:1 for 2004. Don’t feel discouraged, we will take this information and further discuss. I would like to mention that liability ratio lowering isn’t a bad thing and can mean potential growth. That being said, I sense improvement. Now that we have our ratio numbers for both companies and both years we will determine the percentage of total assets from cash and the equivalents. Now we will get the percentages of total assets and compare with PepsiCo. Percentage of cash for 2005=4701 (cash and equiv)29427(total assets)= .1598 Percentage of cash for 2004=670731441= .2133 That’s 15.98% for 2005 and 21.33% for 2004. I’m not sure about you, but if my percentage of cash went down 5.35% I would fret. Now, that’s not to say I wouldn’t invest just yet, but it does raise concern. Unless this cash is being used to pay off debts or re-invest into the company however, one should raise concern. Now that we have our calculations let’s make our comparison. In 2004 PepsiCo’s ratio was 1.28:1 then in 2005 it was 1.11:1. Whereas Coca-Cola had 1.103:1 for 2004 and 1.042:1 in 2005. We can divide the total current assets and of the liabilities for the two years giving us the increase or decrease for the same company. Simply divide the total current asset or liabilities for the two different years. We can find the increase or decrease for asset or liabilities. This furthers our comparisons. Let’s get back to solvency. It is a comparison of current assets and current liabilities. It is determined by dividing one with another. This gives an investor a ratio, which is explained earlier, that provides the investor with good information. That being, how does the company do with long-term responsibility? Also how likely will it act in the future with obligations and goals? The lower the ratio is, the less likely they are to have the follow through we are looking for. A high ratio provides the investor with an imminent outlook on the corporation being free of debt and how the company chooses to re-invest its profit. Profitability can allow an investor to monitor the corporation’s ability to produce assets in comparison to the expenses they must pay off. To put it bluntly, if a company has a higher profit ratio or margin than another company than they are doing better. We can do the same thing with profit that we did with liquidity as far as percentages and ratios go. When looking at profits we must be sure to compare annually because many companies have a season where they are selling more product. What the intended affect would be is to get the average and avoid the fluke statistics. When investing, it is a good idea to take a good step back. Like looking through the window of a candy shop. One candy might look good but you take a step back you can admire the entire display and see what is really going on. The big picture. Horizontal analysis can be utilized to provide the investor with the corporation’s financial data over a monthly or annual progression. It can be expressed using a balance sheet, an income statement, or retained earnings statement. When an investor evaluates the horizontal analysis they can determine the stability of the corporation, giving them solid insight. First we will apply horizontal analysis to PepsiCo’s assets and liabilities. We start by dividing the difference of total current assets between 2004 and 2005. As I have provided the spreadsheet earlier with the information it won’t be necessary to repeat. We are still dealing with those highlighted numbers; this will make it easier to locate the correct statistics. 10454 assets of 2005 – 8639 (assets of 2004)8639 (assets of 2004) = .210 We can then turn this into percentage which would be 21% (technically 21.01%) total current asset increase from one year to the next. Now we’ll do the same with liabilities. 9406 liabilties of 2005- 6752 (liabilties of 2004)6752 (liabilties 2004)= .393 Let’s do this in percentage form, 39.3%. That’s increase of liabilities during the time span of 2004 to 2005. By analyzing this information we are provided with the fact that there is an increase in current assets. This can be done by obtaining loans and gaining credibility as a corporation. On the counterpoint here there is a possibility that debt has increased. Keep in mind that while numbers are increasing and numbers don’t lie, it’s the person analyzing them that puts things in perspective. Let’s make a comparison now with Coca-Cola. 10250 assets of 2005- 12281 (assets of 2005)31441 assets 2004= -.064 We made the horizontal analysis to see if Coca-Cola has gone through increase or decrease with assets and liabilities between the two years of information we were given. When we translate our answer from decimal to percentage we get -6.4% which is a decrease. Let’s divide liabilities for Coca-Cola now. 9836 liabilities of 2005- 11133 (liabilities of 2004)11133 (liabilties of 2004)= -.116 This gives us -11.6% decrease in liabilities from 2004 to 2005. Translating that to English, this means that while assets were low it seems they were clearly paying off debts. This is a responsible and promising thing for a corporation to act on. A good investor will recognize debts being paid off and see that they are making profits and creating a solid foundation for the future. By judging the company’s percentage of growth we can easily separate the stronger competitor. Now, let’s do PepsiCo’s vertical analysis. Year 2005=1716(cash and equiv)31727 (total asset)= .054 Year 2004=1280 (cash and equiv)27987 total asset= .046 In 2005 the percentage is 5.4% while in 2004 it was only 4.6%. Let’s now figure out how much of the assets are currently in possession of the company, first with 2005. Oh, and imagine how nice it would be if we could do that with people we’ve loaned money to. Year 2005=10454 (current asset)31727 (total asset)= .3295 Year 2004=8639 (current asset)27987 (total asset)= .3087 So, we have 32.95% in 2005 and 30.87% in 2004. Meaning that PepsiCo’s assets in possession went up 2.08% in a year. Promising, right? Well, what about Coca-Cola’s? Year 2005=4701 (cash and equiv)29427 total asset= .160 Year 2004=6707 (cash and equiv)31441 (total asset)=.213 In 2005 the percentage is 16% while in 2004 it was 21.3%. Interesting, huh? Let’s figure out the assets Coca-Cola owned in possession. This is where investor’s ears perk up and we can get to some real solid numbers that will eventually define our final decision. Year 2005=10250 (current asset)29427 (total asset)= .348 Year 2004=12281 (current asset)29427 (total asset)= .391 In 2005 the percentage is 34.8% while in 2004 it was higher with a 39.1%. One can easily come to the conclusion that Coca-Cola may have fewer assets in possession, but keep debts in mind. Investors are looking for exactly this. Sure, they own less but they are also being financially responsible. In conclusion with all that has been said and analyzed I would like to conclude this intense and considerate examination. Many statistics were provided by the appendix and several calculations were made to come to a logical and sound conclusion. By viewing over the ratios and percentages we can determine that Coca-Cola is a stronger company. With the fact they do have low assets, we consider how many debts are being paid off due to the profits that are made. The CEO clearly had a strong head on their shoulders and even though these numbers are but six years old, I can only imagine their consistence has stayed the same. Reason being, the corporation has remained out of debts and re-invested th eir profits into future proceedings which allow a positive outlook for investors. Resources: Hill, M.G (2009). Financial Accounting

CHEM Lab

Another source of error is that possibly the ice and salt did not get to a low enough temperature, but again I would think this would alter the results giving a higher temperature instead of a lower one. Something that would give too low a temperature is if the thermometer bulb was directly on the test tube, and the temperature decreased because of the ice/salt mixture instead of the alcohol/water mixture. This is what probably happened in my experiment. Another thing that would cause the temperature to be too low is contamination in the alcohol, contributing more solute to the solution than expected. Using table salt and road salt, how would you design an experiment to determine which of these affected the boiling point of water the most? Which substance do you expect will affect it the most and why? Procedure: Weight out 1 g of salt and put it in ml of water in a test tube. Put a thermometer in and put the test tube over a Bunsen burner, recording the temperature till it boils. Ass uming equal masses (1 g each) of salt, the table salt should affect it more because sodium is smaller than calcium and there would be more moles of table salt in g than there would be of road salt.Conclusion: Freezing point depression occurs when a solute is dissolved in a solvent. The solute makes the freezing point of the solvent decrease. How much the freezing point decreases depends on the immolate of the solute. The higher the immolate, the more the freezing point will decrease. The solute molecules interfere with the solvent freezing, and so the solution will have to get colder to freeze than the pure substance would. There was a large percent error in this experiment. There were a number of things the test tube and got too cold from the ice/salt mixture on the outside of the test be.Some other sources of error are measuring the alcohol or the water incorrectly. The graduated cylinder is not very accurate when measuring small amounts such as 2 ml. Some of the alcohol could hav e evaporated during the experiment since it is so volatile. There could have been some contamination in the alcohol, such as other solutes, that would contribute to the decrease in freezing point. I used 91% spoilsport alcohol instead of 70%, and this may be a cause of error as well. The formula holds only for relatively small amounts of solute, and maybe the 91% was too much.This experiment did not turn out as well as I had hoped. Perhaps if there were a way to keep the thermometer off of the test tube itself so that it doesn't get so cold, that would be a better procedure. Perhaps if you could cork the test tube (if it were a large enough one to fit a cork in it) with a hole for the thermometer, then the cork would hold the thermometer in the solution instead of having it touch the sides of the test tube. No matter the numerical results of the experiment, I did learn a lot more about freezing point depression than I had known previously. That aspect of the experiment was successfu l.

Discuss the emergence of the concept of 'sustainable development' in Essay

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What economic future are markets currently pricing in Essay

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Emergency Response Effort Directed To a Major Aircraft Mishap Research Paper

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Working Station and Monotonous Duties Assignment

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The Commitment to Immediate Emancipation Essay Example | Topics and Well Written Essays - 750 words

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Term Paper Essay Example | Topics and Well Written Essays - 1250 words

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Descriptive Essay Example for Free

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They are black wrought iron and hang on a metal rack that matches the screen in front of the fireplace. On the mantle above the fireplace are two matching, and evenly spaced, square ‘infinity’ candle holders, as well as a glass, cone shaped reed diffuser. The candles above the fireplace give off an illuminating glow creating dancing shadows on the wall and ceiling in the evening hours, adding to the natural warmth of the room. The reed diffuser has bright red apple scented oil in it that can be smelled halfway across the room. One of the most interesting things in the room is also on the mantle and that is a nearly rocket shaped, fourteen inch tall by two inch diameter glass Galileo thermometer. Against the wall to the left of the fireplace is the large, grey trimmed, fifty inch screen television which resides atop a five foot long by two foot tall wood stand. The television and stand sits with its back to the front windows of the house that look out to the heavily trafficked Campbell Street that leads into town. On the front of the dark honey colored stand are two oak trimmed glass doors, that neatly frame the open center section, dividing it into thirds. The open middle area holds the black dvr and a dull silver colored surround sound system. On display behind the glass doors, on either side of the electronics, are several video games and movies standing as soldiers in formation. Hanging behind the television are a set of long sheer white curtains that shadow the matching white blinds. The standard horizontal blinds are recess mounted between the wide, off white painted window trim that wraps around the windows. The bright white trimmed, four year old, double pane windows take up about two-thirds of the wall, allowing an abundance of sunlight to come flowing in during the early daytime hours when the blinds are open. On both sides of the windows hanging on the wall, in plain dark wood frames, are family photos that captured happy and joyful times that often bring about stories that surround those times and people. The most favored seating area and best viewpoint for the television and entertainment stand is directly across the room against the opposing wall. This is where the large, three cushioned, cream-colored, smooth and soft feeling micro-fiber couch sits. This thing really looks like it means business when it comes to comfort and relaxation. The overstuffed cushions sink just enough to make accidental napping very easy. The padding in the outward arching arms have the feel of memory foam, soft enough to not reach for a pillow when lying down after a long day at the office or at school. Holding the couch about three inches above the floor are four, black, square, plain looking feet. On each side of the couch, tucked against the wall are a pair of small, somewhat ordinary, dark stained, wooden end tables. Further complimenting the space on the end tables, are a few decorative candles in tall holders. Also on the table to the right side of the couch is a bouquet of brightly colored silk flowers in a short, square, clear glass vase. All of the things in this particular living room are only a part of what makes this house feel like home. It is an area where stories are told, laughter is heard, entertainment is had, and cozy fires are enjoyed by friends and family. The living room is not just another room in the house, it is a place where memories are made.

Implementing An Effective Food Safety Management System Management Essay

Implementing An Effective Food Safety Management System Management Essay Regarding to the research hypothesis, the researcher concluded that there are two main critical factors were revealed through the data analysis that not only were considered as the most important factors in implementing an effective Food Safety Management System (ISO 22000), but also proved to be the most influential factors in the optimization of the degree of the effectiveness of FSMS (ISO 22000) for implementation in Egyptian food processing company. The management responsibility with regard to enhance communication between stuff, update FSMS, motivate stuff members and allocate resources for effective FSMS implementations and planning for realization of safe products implementation such as identifying potential hazards, update and review HACCP plan and planning for meeting FSMS requirements have a major and important impact on increasing the effective implementation of FSMS (ISO 22000). Regarding to availability of uncomplicated documentation and general managerial procedures requirements beside good resources management have a good impact on effective implementation of FSMS (ISO 22000). In other words, in order for the food companies to effectively implement FSMS system they should focus their efforts to strengthen their internal documentation system, management responsibility, resources management and planning and realization of safe products for enhancing improvement and effective implementation of FSMS (ISO22000). As a final conclusion, the food safety quality management system should be reviewed, evaluated and updated regularly to improve its effectiveness. An effective planning for producing a safe food product will participate in achieving a positive progress trend in FSMS effectiveness implementation. The researcher believes that HACCP planning has a big influence on the success of the effective implementation of a food safety quality management system in any food manufacturing organization, training courses, inductions and seminars should be regularly conducted for all levels of personnel to enhance their awareness of the importance of the food quality management system. 6.2 Recommendations for Future Work It is recommended to expand the scope of study to cover other sectors in the company food chain not only food manufacturing but also suppliers, warehouses, export and end user or any other sector, to have an overall evaluation of the food safety quality management system implemented in Dreem Company. This overall evaluation will help maintain and improve the food safety quality management system to be able to cope with the future developments and strengthen the ability of Dreem Company to produce safe products and compete in both local and international markets. 6.3 Limitations However, this study suffers from some limitations, which need corrective actions to help the system to be more effective, this limitation can be summarized as follows: Concerning sample size Due to the small sample size, these results cannot be generalized to the entire Egyptian food industry. Further work must incorporate a larger sample size and many companies interested in the field of food processing. Concerning Documentation and General Requirements 1. It can be noticed that there is a lot of paper work and documents that are used in monitoring FSMS, that consider being a hindrance of the constraints the application system effectively, redesign documentation system and eliminating all non value added paper work will support implementing FSMS effectively. 2. Documentation system needed to be updated periodically according to continuous updating of FSMS and to meet system and company modern applications. 3. Additional awareness and efforts is required to inform staff member with the importance of documents in monitoring FSMS and involve staff member in establishing documents that fit with the purpose of use. 4. Hazards that might affect products and food safety needed to be more defined and addressed in different functions to generate sharp focus considering potential hazards, only production, quality control and quality assurance functions have posted and addressed visual aids clarify hazards might affect the product, hazards that might affect Food Safety should be addressed in other functions like warehouses maintenance and logistics 5. It can be noticed that there is a lake of proper systems to drive the consistent implementation of the policy, since not all staff and employees understand the company policy and strategy of the company to achieve desired levels of food safety, awareness and inductions especially to the new comers or new entry employees needed to highlight policy and strategy. Concerning Management Responsibility 1. Top management should counter about motivating employee and inspiring them, high number of the staff feeling that top management focused only on quantities rather that quality, so employees and stuff needed to be motivated by top management and to align both of focusing on quantities with focus on product quality 2. Lack of defining responsibilities and authorities inter company, researcher noticed that many employees are not aware by the authority and responsibilities of middle management staff and team leaders and how the responsibility and authority can be used effectively in effective implementation of FSMS and overcome different potential obstacles, top management should prepare appropriate job descriptions and well defined rules for different employees in FSMS applications 3. Communication between top management and staff members should be developed to know the problems and listening to their suggestions for solving and removing obstacles that impede effective implementation of FSMS 4. At the same time top management should inform staff member with modification and updates in regulatory and statutory in regular manner through meeting with function headers and food safety team members. Concerning Resources Management 1. The researcher concluded that financial and physical resources should be ad equated provided to improve the effective implementation of FSMS, facilities and materials that enhance hygiene and GMPs should be available and provided in timely manner for different areas. 2. It is noticed that a lot of number of new employers are coming from different cultures and they have not previous experience about how to handle food products, hygiene requirements, GMPs and food manufacturing instructions, continuous inductions, awareness and training should be delivered to new comer employees and current employees 3. Level of current competences for staff members should be reviewed regularly to evaluate different training needs for staff member that enhance effective implementations of FSMS. Concerning Planning and realization for safe products 1. The researcher found that PRPs must gain more attention to be an effective tool in improving FSMS applications, procedures should be established to ensure the effectiveness of PRPs implementations and allocated resources for implementing PRPs programs. 2. To improve quality control level visual aids should be addressed and posted to communicate and inform staff members with quality parameters levels. Also to provide training for labors and quality control observers with the recent modification in FSMS and updated quality control parameters for different products. 3. Evaluating and monitoring CCPs results should be announced to staff member to participate in solving and remove potential hazards that might affect the products. 4. Corrective actions should be reviewed in timely regular manner. Remove all obstacles that might hinder follow up and implementation of corrective actions that researcher found that many corrective actions still opened and needed for effective actions to close them. Concerning Improve Food Safety Management System 1. It can be noticed that there is a lake of implementing evaluation and measurement for FSMS implementations before and after improvements or corrective actions to view the progress of applications. Analysis of performance is applied but not on wide scale in FSMS 2. Researcher found that there is shortage in validation of the effectiveness of implementing FSMS during regular period of times. Many methods and applications of FSMS needed to be verificated and validated, also all assignable root causes should be removed. 3. The FSMS could be more effective if the findings for internal and external audits are gained more attention for implementations and validations. References References: Adams, C.E. (1994),  ¿Ã‚ ½ISO 9000 and HACCP systems ¿Ã‚ ½, Food and Drug Law Journal., Vol. 49, pp. 603-7. Adams, C. (2000),  ¿Ã‚ ½HACCP applications in the foodservice industry ¿Ã‚ ½, Journal of the Association of Food and Drug Officials, Vol. 94 No. 4, pp. 22-5. Al-Nakeeb, A., Williams, T., Hibberd, P. and Gronow, S. (1998),  ¿Ã‚ ½Measuring the effectiveness of quality assurance systems in the construction industry ¿Ã‚ ½, Property Management, Vol. 16 No. 4, pp. 222-8. American Society for Quality (ASQ), Food Safety- A Quality Management Systems Approach, Quarterly Quality Report, June 2007. Armistead, C.,Pritchard, J.P. and Machin, S. (1999),  ¿Ã‚ ½Strategic business process management for organisational effectiveness ¿Ã‚ ½, Long Range Planning, Vol. 32 No. 1, pp. 96-106. Bauman, H.E. (1994), The origin of the HACCP systems and subsequent evaluation, Food Science and Technology Today. Vol.8, pp,66-72. Bennet, W.L. and Steed, L.L. (1999),  ¿Ã‚ ½An integrated approach to food safety ¿Ã‚ ½, Quality Progress,February, pp. 37-42. Bertolini, M., Rizzi, A. and Bevilacqua, M. (2007),  ¿Ã‚ ½An alternative approach to HACCP system implementation ¿Ã‚ ½, Journal of Food Engineering, Vol. 79 No. 4, pp. 1322-8. Bhuiyan, N. and Alam, N. (2005),  ¿Ã‚ ½An investigation into issues related to the latest version of ISO 9000 ¿Ã‚ ½, Total Quality Management Business Excellence, Vol. 16 No. 2, pp. 199-213. Birkenstock, J. 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Food and Agriculture Organization (FAO ), World Health Organization (WHO), (2003), Assuring food safety and quality: guidelines for strengthening national food control systems. Rome Food Standard Agency (2007),Food safety management evaluation Research, Report available at www.jigsaw-research.co.uk. GFSI (2007), What is ISO 22000?,), Technical Committee position paper, September, available at: www.globalfoodsafety.com Gilling, S.J., Taylor, E.A., Kane, K. and Taylor, J.Z. (2001),  ¿Ã‚ ½Successful hazard analysis critical control point implementation in the United Kingdom: understanding the barriers through the use of a behavioural adherence model ¿Ã‚ ½, Journal of Food Protection, Vol. 64 No. 5, pp. 710-5. Gorris, L.G.M. (2005 ),  ¿Ã‚ ½Food safety objective: an integral part of food chain management ¿Ã‚ ½, Food Control, Vol. 16 No. 9, pp. 801-9. Griffith, C. (2000),  ¿Ã‚ ½Food safety in catering establishments35 ¿Ã‚ ½, in Farber, J.M. and Todd, E.C. (Eds), Safe Handling of Foods, Marcel Dekker, New York, NY, pp. 235-56. Hammer, M. (2002),  ¿Ã‚ ½Process management and the future of Six Sigma ¿Ã‚ ½, MIT Sloan Management Review, Vol. 43 No. 2, pp. 26-32. Hunter, Laura and Erin Leahey. 2008. Collaborative Research in Sociology: Trends and Contributing Factors. American Sociologist 39:290 ¿Ã‚ ½306 Joee, C. (2008), The ISO 22000 standard procedures for a food safety management system, a guide to creating a food safety management system for any organization in the supply chain, Bizmanulaz Inc, 2008. Little, C.L., Lock,D., Barnes,J., and Mitchell, R.T. (2002), Microbiological quality of take-away cooked rice and chicken sandwiches: effective of good hygiene training of the management , Communicable Disease and Puplic Health, Vol. 11, pp. 154-7. Little, C.L., Lock,D., Barnes,J., and Mitchell, R.T. (2003), Microbiological quality of food in relation to hazard analysis systems and food hygiene training of the management, Communicable Disease and Puplic Health, Vol. 6, pp. 250-8. Luning, P. and Marcelis, W. (2007),  ¿Ã‚ ½A conceptual model of food quality management functions based on a techno-managerial approach ¿Ã‚ ½, Trends in Food Science Technology, Vol. 18 No. 3, pp. 159-66. Luning, P., Bango, L., Kussaga, J., Rovira, J. and Marcelis, W. (2008),  ¿Ã‚ ½Comprehensive analysis and differentiated assessment of food safety control systems: a diagnostic instrument ¿Ã‚ ½, Trends in Food Science Technology, Vol. 19 No. 10, pp. 522-34. Manning, L. and Baines, R. (2004),  ¿Ã‚ ½Effective management of food safety and quality ¿Ã‚ ½, British Food Journal, Vol. 106 No. 8, pp. 598-606. Mayes, T. (1993),  ¿Ã‚ ½The application of management systems to food safety and quality ¿Ã‚ ½, Trends in Food Science Technology, Vol. 4, July, pp. 216-19. Mehta, S. and Wilcock, A. (1996),  ¿Ã‚ ½Quality system standards in the Canadian food and beverage industry ¿Ã‚ ½, Quality Management Journal, Vol. 4 No. 1, pp. 72-93. Mehrdad, T. (2007) New food safety management systems; ISO 22000 Global food safety initiative system, available at www.vetmed.ucdavis.edu Minitab Statistical Software (2006), Release15 for Windows, Pennsylvania, Minitab Inc. Mortimore, S. and Wallace, C. (1996), HACCP: A Practical Approach, Chapman Hall, London. Mossel,D.A.A., Corry,J.E.L., Struijk,C.B. and Baird,R.M. (1995), Essential of the Microbiology of foods:A text book for advanced studies, John Willy Sons, Chichester. National Food Processors Association (1992),  ¿Ã‚ ½HACCP and total quality management  ¿Ã‚ ½ winning concepts for the 1990s: a review ¿Ã‚ ½, Journal of Food Protection, Vol. 55 No. 6, pp. 459-62. Newslow, D. (1997),  ¿Ã‚ ½HACCP/ISO 9000: commonalities and distinctions ¿Ã‚ ½, Dairy, Food and Environmental Sanitation, Vol. 17, pp. 156-61. Oakland, J. (1995), Total Quality Management  ¿Ã‚ ½ Text with Cases, 2nd ed., Butterworth-Heinemann Professional Publishing, Oxford. Pallett, A.J.M. (1994),  ¿Ã‚ ½ISO 9000: the company ¿Ã‚ ½s viewpoint ¿Ã‚ ½, Food Technology, December, pp. 60-2. Panagiotis, C. (2009), Standardized food safety management  ¿Ã‚ ½the case of industrial yoghurt, British Food Journal, Vol. 111 No. 9, 2009, pp. 897-914 Panisello, P. and Quantick, P. (2001),  ¿Ã‚ ½Technical barriers to Hazard Analysis Critical Control Point (HACCP) ¿Ã‚ ½, Food Control, Vol. 12 No. 3, pp. 165-73. Panisello, P., Quantick, P. and Knowles, M. (1999),  ¿Ã‚ ½Towards the implementation of HACCP: results of a UK regional survey ¿Ã‚ ½, Food Control, Vol. 10 No. 2, pp. 87-98. Philippa, S.(2008), ISO22000 food safety management system and their related requirements, Six World Congress on Sea Food Safety, Quality and Trade,Standard Australia, 14-16 September., Redshaw, B. (2000),  ¿Ã‚ ½Evaluating organisational effectiveness ¿Ã‚ ½, Industrial and Commercial Training, Vol. 32 No. 7, pp. 245-8. Roberto, C.D., Brandao, S.C.C. and da Silva, C.A.B. (2006),  ¿Ã‚ ½Costs and investments of implement ting and maintaining HACCP in a pasteurized milk plant ¿Ã‚ ½, Food Control, Vol. 17 No. 8, pp. 599-603. Satin, M. (Ed.) (2002), Quality Enhancement in Food Processing Through HACCP, Asian Productivity Organization, Tokyo. Stringer, M.F. (1994),  ¿Ã‚ ½Safety and quality management through HACCP and ISO 9000 ¿Ã‚ ½, Dairy Food and Environmental Sanitation, Vol. 14 No. 8, pp. 428-81. Stringer, M. (2004),  ¿Ã‚ ½Food safety objectives-role in microbiological food safety management ¿Ã‚ ½, Food Control Journal, Vol. 16, pp. 775-794. Strohbehn, C., Gilmore, S. and Sneed, J. (2004),  ¿Ã‚ ½Food safety practices and HACCP implementation: perceptions of registered dieticians and dietary managers ¿Ã‚ ½, Journal of the American Dietetic Association, Vol. 104 No. 11, pp. 1692-9. Surak, J.G. (1999),  ¿Ã‚ ½Quality in commercial food processing ¿Ã‚ ½, Quality Progress, February, pp. 25-9. Surak, J.G. and Simpson, K. (1994),  ¿Ã‚ ½Using ISO 9000 standards as a quality framework ¿Ã‚ ½, Food Technology, December, pp. 63-4. Suttiprasit, P. (2007),  ¿Ã‚ ½Innovative integration of food safety standards using current process model (CPM) approach ¿Ã‚ ½ Technology Promotion Association Journal, Part 1: No. 41 and Part 2-4: Nos. 43-45. Statistical Package for the Social Sciences (SPSS-15).-SPSS Inc. Stringer, M. (2005),  ¿Ã‚ ½Food safety objectives  ¿Ã‚ ½ role in microbiological food safety management ¿Ã‚ ½, Food Control, Vol. 16 No. 9, pp. 775-94. Taylor, E. (2001),  ¿Ã‚ ½HACCP in small companies, benefit or burden ¿Ã‚ ½, Food Control, Vol. 12 No. 4, pp. 217-22. Taylor, E. and Kane, K. (2005),  ¿Ã‚ ½Reducing the burden of HACCP in SMEs ¿Ã‚ ½, Food Control, Vol. 16 No. 10, pp. 833-9. Taylor, E. and Taylor, J. (2004),  ¿Ã‚ ½Using qualitative psychology to investigate HACCP implementation barriers ¿Ã‚ ½, International Journal of Environmental Health Research, Vol. 14 No. Untermann, F. (1999),  ¿Ã‚ ½Food safety management and misinterpretation of HACCP ¿Ã‚ ½, Food Control, Vol. 10 No. 3, pp. 161-7. Vela, R. and Fernandez, M. (2003),  ¿Ã‚ ½Barriers for the developing and implementation of HACCP plans: results from a Spanish regional survey ¿Ã‚ ½, Food Control, Vol. 14 No. 5, pp. 333-7. Walker, E., Pritchard, C. and Forsythe, S. (2003),  ¿Ã‚ ½Hazard analysis critical control point and prerequisite programme implementation in small and medium size food businesses ¿Ã‚ ½, Food Control, Vol. 14 No. 3, pp. 169-74. Ward, G. (2001),  ¿Ã‚ ½HACCP: heaven or hell for the food industry? ¿Ã‚ ½, Quality World, March, pp. 12 15. Wasik, R. (1994a),  ¿Ã‚ ½ISO programs ¿Ã‚ ½, Food in Canada, April, p. 61. Wasik, R. (1994b),  ¿Ã‚ ½TQL + HACCP + ISO 9000  ¿Ã‚ ½ total quality (part I) ¿Ã‚ ½, Food in Canada, March, pp. 28-9. World Health Organisation (WHO) (1999),  ¿Ã‚ ½Report of a WHO consultation strategies for implementing HACCP in small and/or less developed businesses ¿Ã‚ ½, WHO/SDE/PHE/FOS/99.7, Food Safety Programme World Health Organization, The Hague, 16-19 June. Yapp, C. and Fairman, R. (2006),  ¿Ã‚ ½Factors affecting food safety compliance with small and medium-sized enterprises: implications for regulatory and enforcement strategies ¿Ã‚ ½, Food Control, Vol. 17 No. 1, pp. 42-51. Vel, Pillay. and Victor, Muliyil. (2005), ISO 22000 food safety management systems, The one universal food safety management standard that works across all others, SGS, System and Certification Services, October 2005. Zhou, J., Jin, S., and Ye, J. (2008),  ¿Ã‚ ½Adoption of HACCP system in the Chinese food industry: a comparative analysis ¿Ã‚ ½, Food Control, Vol. 19 No. 8, pp. 823-8.

Woman Warrior Essay -- essays research papers

A Warrior’s Triumph   Ã‚  Ã‚  Ã‚  Ã‚  The Woman Warrior by Maxine Hong Kingston presents the story of a girl trapped between the cultures of her surrounding environment and that which her mother and family have forced upon her. Knowing only the Chinese way of life, this girl’s mother attempts to familiarize her daughter, whom is also the narrator, with the history of their family. The mother shares this heritage through the use of stories in hopes the narrator will be prepared for her ultimate return to China, which is a life completely foreign to her own. Through these stories and the strong influence of the surrounding American culture, the narrator’s life and imagination spin off in a new direction. She is confronted by many obstacles, which cause problems with not only her mother, but also with her attempt to discover her personal identity. Although the narrator’s assimilation to the American culture causes numerous conflicts with her mother, she is able to overcome adversity and come of age as a Chinese-American with the help of her mother’s stories.   Ã‚  Ã‚  Ã‚  Ã‚  In Kingston’s first story, â€Å"No Name Woman,† the reader is first introduced to the stories of the narrator’s mother. This particular tale involves an aunt that the narrator never knew, who was shunned from her family for having an affair. It was through this story that the narrator learned how careful a young woman must be when growing up in the Chinese culture. Years after hearing of her aunt’s misfortune, the narrator realizes that she has carried on this ostracism and is equally as guilty as the others who participated in this punishment of silence. However, the narrator feels an intense connection with the outcast of her family. â€Å"My aunt haunts me—her ghost drawn to me because now, after fifty years of neglect, I alone devote pages of paper to her†¦Ã¢â‚¬  (16). Perhaps the narrator feels this bond because she herself feels completely alienated from the family and could never be fully connected to her Chinese h eritage. Although she is angry for the terrible punishment inflicted on her aunt, she feels remorse for â€Å"telling on her† (16). This shows that the narrator does not only disapprove of the Chinese culture, but also feels sorry for those who must suffer in an eternity of exile.   Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"White Tigers† brings readers into the creative imaginatio... ... seems to plague the narrator endlessly. She knows she can never break away from one culture without having to completely abandon the other. In the end, however, she realizes that she must leave home if she is ever to discover her purpose in the world, be it in China or America. The harsh criticisms and endless disapproval causes detrimental effects to the narrator, while at the same time giving her strength to overcome this lifelong struggle by facing her mother. Although the stories of her mother’s Chinese experiences and the insistence on her daughter living there push the narrator further away, it eventually causes an interest to discover what is really true. â€Å"Soon I want to go to China and find out who’s lying†¦Ã¢â‚¬  (205). Though some can constantly feel sorry for the narrator, we can also feel sorry for her mother not knowing any better. This is what ultimately caused the nonexistent relationship between the two. Through this complicated life, th e narrator gained the strength, intelligence, and experience that allowed her to overcome numerous obstacles. Contrary to the belief of some, I feel she has her mother to thank for these gains, and that may have made all the difference.

Free College Admissions Essays: The First to Attend a University :: College Admissions Essays

The First to Attend a University    My name is Bob Porter and I am a senior at Henry High School. I am the only child of my parents, Debra and Adrian Porter, though my father has three other children. My mother and father divorced four years ago. My father is taking care of me by himself. My mother and father both completed high school, and my mother works as a waitress while my father is a maintenance supervisor. I will be the first to attend a university in my family.    My brother and sister live in Chicago, and my other brother lives next to me. My parents raised me to always do my best in school and anything I was involved in. They raised me in the church and always taught me right from wrong, and to believe in God and that anything is possible.    My career aspirations are to become a Supreme Court Justice. I plan on achieving this by attending a university and majoring in Political Science and minoring in Criminal Justice. Once I have completed my undergraduate courses, I plan on attending law school. After completion of law school, I will become a United States Marshal, where I will work for a few years.    I am a member of the National Honor Society, Trojan Chapter; Ford Student Council and Detroit City-wide Student Council. I am also   a member of Henry Ford Brown Sound in the Motown Marching Band, a Detroit Compact Student, and a Brother of Ikenga (a mentor group).    Some of my community services include participation in the Boy Scouts of America, the Black Caucus Foundation of Michigan (Drug Free Youth In Detroit), Black Family Development, Inc., Focus Hope-Food Drive & Distribution, Arnold Nursing Home Volunteer, Community Newsletter Distribution (New Hope Church), and Focus Hope Walk-A-Thon.    My leadership includes being the Vice President of my senior class.

The Bluebeard Reference in Jane Eyre :: Charlotte Bronte Jane Eyre Essays

The Bluebeard Reference in Jane Eyre    Within Jane Eyre lies an explicit reference to the tale of Bluebeard. When first exploring the dark hall of Thornfield’s third floor Jane tells us, "I lingered in the long passage to which this led [. . .] with only one little window at the far end, and looking, with its two rows of small black doors all shut, like a corridor in some Bluebeard’s castle" (114; ch. 11). This allusion is not a casual one, for the plot of Jane Eyre has much in common with the tale of Bluebeard. Bronte uses Bluebeard to foreshadow Rochester’s first wife, Bertha, being locked away from society in a hidden room on the third floor. This reference also in part alludes to ideas of women’s obedience and how not following the patriarchal rules of society can lead to punishment. Bertha is isolated from society and held captive in a secret room because she is not the model wife and acts out despite her husband. This relates to Bluebeard because he murders his wives once they become diso bedient. Bertha does die in the end of Bronte’s novel, though not at the hands of her husband. But even being isolated from society and held captive can be viewed as a symbolic death. Also Jane herself is often punished for not following the rules of patriarchal society. Bronte brings this poor treatment of women by society to light in the novel and shows her rejection of it through the characters of Jane and Bertha. The tale of Bluebeard dates back to the seventeenth century. "Bluebeard as we know him first appeared in Paris in 1695 as La Barbe Bleue, in the manuscript version of Charles Perrault’s Histories Ou Contes Du Temps Passe, a collection which has become a seminal influence on the evolution of fairy tale" (Davies 33). The villain of this tale is a man with a blue beard whom everyone fears. After inviting his neighbors to stay and celebrate at his country home in attempts to persuade one of the their daughters to marry him, he convinces the youngest of his widowed neighbor to be his bride. All goes well until the new husband goes away on business, leaving his wife in charge with only one rule, to not open the door of one room in the castle. Of course curiosity overtakes the wife and she enters the room only to find Bluebeard’s previous wives murdered within the chamber. The Bluebeard Reference in Jane Eyre :: Charlotte Bronte Jane Eyre Essays The Bluebeard Reference in Jane Eyre    Within Jane Eyre lies an explicit reference to the tale of Bluebeard. When first exploring the dark hall of Thornfield’s third floor Jane tells us, "I lingered in the long passage to which this led [. . .] with only one little window at the far end, and looking, with its two rows of small black doors all shut, like a corridor in some Bluebeard’s castle" (114; ch. 11). This allusion is not a casual one, for the plot of Jane Eyre has much in common with the tale of Bluebeard. Bronte uses Bluebeard to foreshadow Rochester’s first wife, Bertha, being locked away from society in a hidden room on the third floor. This reference also in part alludes to ideas of women’s obedience and how not following the patriarchal rules of society can lead to punishment. Bertha is isolated from society and held captive in a secret room because she is not the model wife and acts out despite her husband. This relates to Bluebeard because he murders his wives once they become diso bedient. Bertha does die in the end of Bronte’s novel, though not at the hands of her husband. But even being isolated from society and held captive can be viewed as a symbolic death. Also Jane herself is often punished for not following the rules of patriarchal society. Bronte brings this poor treatment of women by society to light in the novel and shows her rejection of it through the characters of Jane and Bertha. The tale of Bluebeard dates back to the seventeenth century. "Bluebeard as we know him first appeared in Paris in 1695 as La Barbe Bleue, in the manuscript version of Charles Perrault’s Histories Ou Contes Du Temps Passe, a collection which has become a seminal influence on the evolution of fairy tale" (Davies 33). The villain of this tale is a man with a blue beard whom everyone fears. After inviting his neighbors to stay and celebrate at his country home in attempts to persuade one of the their daughters to marry him, he convinces the youngest of his widowed neighbor to be his bride. All goes well until the new husband goes away on business, leaving his wife in charge with only one rule, to not open the door of one room in the castle. Of course curiosity overtakes the wife and she enters the room only to find Bluebeard’s previous wives murdered within the chamber.

Themes…. monsters are due on maple street

People who persevere are not stubborn. 4. Fear a. Fear Is powerful and can take over your mind. B. Sometimes fear Is a reasonable reaction. Other times, fear can be Irrational. C. We should fear Ignorant people with the power and authority. D. Ignorant people with power and authority can harm others. E. Fear tends to happen when your rights are gone. F. Fear can cause people to limit your rights. G. Sometimes you have to face your fears. 5. Trust/mistrust a. Mistrust can lead to confusion. B. Trust takes courage. Sometimes we can trust the wrong person (people). Ere (The Obsolete Man) 6. Leadership a. Don't always trust your leaders. B. Not all leaders are trustworthy. C. Don't follow bad leaders who take away your natural rights to life, liberty, and property. 7. Worthiness a. People who are worthy of leadership are fair, respectful, trustworthy, do what's best for the common good, and don't always make the popular decision, but they try to make the right decision. 8. Ignorance 9. A bsurdity 10. Confusion 11. Judgment 2.Curiosity 13. Manipulation 14. Truth/lees 15. Misunderstanding 16. Change 18. Blame Have you ever stood on your front porch, looking at a mob of people accusing you of being an alien? Less Goodman, a resident of Maple Street, knows exactly how this feels. In the short story, The Monsters are Due on Maple Street, by Rod Serving there is a strong theme of Summary of story here. Ladled;Jeff;alkyds;asked;saddle;saddle;fjords;Sofas;JDK;Alasdair;aside;fjords;Sofas Thematic statement here. Explanation of statement.

LOOKING AT THE PRINCIPLES OF CORPORATE GOVERNANCE

â€Å" Corporate Administration is the system by which concern corporations are directed and controlled. The corporate administration construction specifies the distribution of rights and duties among different participants in the corporation, such as, the board, directors, stockholders and other stakeholders, and spells out regulations and processs for doing determinations on corporate personal businesss. By making this it besides provides the construction through which the company aims are set, and the agencies of achieving those aims and supervising public presentation. † â€Å" Corporate Administration can be described as a system of structuring, operating, and commanding a company with a position to accomplish long term strategic ends to fulfill stockholders, creditors, employees, clients, and providers with the legal and regulative demands, apart from run intoing environmental and local community demands. It leads to the edifice of a legal, commercial and institutional model. It besides demarcates the boundaries within which these maps are to be performed. †Need FOR CORPORATE GOVERNANCEAs we all know that in today ‘s scenario market forces are progressively replacing authorities controls, corporate administration is deriving prominence in a concern industry. Today corporate administration can be seen as a requirement for pulling financess from foreign establishments. Investors these yearss make certain that the company in which they are puting their principal is non merely decently managed but besides follow corporate administration. I t is regarded as a control mechanism that ensures the optimal usage of human, physical and fiscal resources for an endeavor. It addresses assorted issues faced by board of managers, top direction, proprietors, stakeholders and the society at big. Corporate administration patterns are a set of structural agreements that emerge in free market economic systems to aline the direction of companies with the involvement of their stockholders, stakeholders and the society at big. Corporate administration aims to turn to three basic issues: Ethical Issues Efficiency Issues Accountability Issues Ethical Issues as the name suggests relates to the job of moralss in concern. Corporations employ deceitful agencies to accomplish their goals.In order to exercise force per unit area on the authorities to explicate public policies the companies form trusts which frequently go against the involvement of the populace. Companies in order to derive trueness from clients may give payoffs or offer gifts to possible clients. Efficiency Issues are concerned with the public presentation of the direction. Management is responsible for guaranting sensible returns on investing made by stockholders. The issues associating to efficiency of direction is of involvement to the stockholders as their return on investing is at interest. Accountability Issues relate to the stockholders need for transparence of direction in the behavior of the concern. Features of corporate administration: Discipline Transparency Independence Accountability Duty Fairness Social ResponsibilityPRINCIPLES OF CORPORATE GOVERNANCE:Rights and just intervention of stockholders: Organizations should esteem the rights of stockholders and in bend encourage stockholders to exert their rights. They can assist stockholders exert their rights by efficaciously pass oning information which is in an apprehensible signifier to them and promoting stockholders to take part actively in general meetings. Interests of other stakeholders: Organizations should acknowledge that they have legal and other duties towards all legitimate stakeholders such as the creditors, providers, employees etc. Disclosure and transparence: Organizations should clear up and do publically known all the facts and findings so as to supply stockholders with a degree of answerability. They should besides implement policies and processs to verify and safeguard the unity of the company ‘s fiscal studies. Disclosure of material facts refering the organisation should be seasonably and balanced to guarantee that all investors have entree to unclutter, factual information. Functions and duties of board: The board needs a batch of accomplishments and understanding to be able to cover with assorted ethical issues. It needs to hold a degree of committedness to carry through its duties and responsibilities. There are issues about the appropriate mix of executive and non-executive managers within a company. Integrity and ethical behavior: Ethical and responsible determination devising is non merely of import for public dealingss, but it is besides an of import component in hazard direction. Organizations should raise a codification of behavior for their managers and top direction that promotes ethical and responsible determination devising at all degrees of the organisation. Many organisations have besides establishedA Compliance and Ethics ProgramsA to minimise the hazard that the house goes against the ethical and legal boundaries.Issues affecting corporate administration include:internal controls and internal audits regulations sing readying of the company ‘s fiscal statements dividendA policy the independency of the entity ‘s external hearers and the quality of their audits efficient usage of resources made available to managers in transporting out their duties direction of hazard reappraisal of the compensation for the main executive officer and other senior executives the procedure of nominations of persons for places on the boardCASES ON CORPORATE Administration:Corporate GOVERNANCE AT THE BODY SHOPIntroduction:Anita Roddick is the laminitis of The Body Shop. She is one of the celebrated personalities who is engaged in Ethical Consumerism. She is actively involved in runs for environmental and societal issues including the runs such as Greenpeace and the Big Issue ( 2007 ) , Hepatitis C. She is an enthusiastic individual who takes an initial duty to do a vision to go a success and is a positive mind and an first-class determination shaper. The Body Shop is a world-wide known British concatenation of cosmetics shops. It was taken over by Gallic Cosmetics group L'Oreal in 2006. The Body Shop is distinguished for selling its ain line of merchandises which are produced in an eco friendly mode and are non tested on animate beings. The Body Shop considers the construct of corporate administration as their competitory advantage. Anita Roddick who is the caput of the determination doing organic structure of the company creates a value system non merely in selling its merchandises but besides in keeping a important relationship with all its stakeholders. The company has established a decently structured model in order to cover with corporate affairs. It has established a proper structured plan which is reinforced by company policies and other processs for proper counsel of the managers in transporting out their day-to-day responsibilities. The company has a clear mention usher to its concern operations and corporate administrat ion. This includes the care of the criterions with regard to the corporate administration in the corporation ‘s different sectors. The Board of the company consists of 10 managers out of which two are executive while six are non executive due to which there is a just division of duties among them. The board is in charge of taking attention of the company ‘s operations, assets, and its stockholders with a position of maximising public presentation. The Board conducts a monthly reappraisal of the company ‘s concerns in relation to its fiscal motions in order to guarantee the house ‘s competent operations. The company jurisprudence obliges the board of managers to carefully fix each twelvemonth, a fiscal study that needs to be accurate and dependable reflecting the true province of the company. The Board of Directors are besides responsible for the proper guardianship of accounting statements and guarantee that these records are precise and true. It is besides vested with the duty of safeguarding the company ‘s other assets every bit good as doing the necessary stairss in order to forestall complications such as fraud and other types of hazards. Apart from the board there are other commissions which are formed which have a well-established mention usher which besides discusses their responsibilities and their range of authorization within the corporation. The wage commission handles the lineation for the company ‘s wage policy which would be reviewed by the board. Furthermore, this group is besides responsible for the assorted wage bundles that are offered to the executive managers. The audit commission makes proper recommendations with respects to the company ‘s accounting policies every bit good as supervising fiscal control within the corporation. The company besides has a clear codification of moralss and all employees must conform to this codification. The codification of moralss includes a struggle of involvement policy to guarantee that cardinal corporate determinations are taken by persons who do non hold a fiscal involvement in the result separate from their involvement as company functionaries. The comp any besides proctors conformity with the jurisprudence and the planetary fiscal policies and patterns in the country of internal controls, fiscal accounting and coverage, fiducial answerability and safeguarding of corporate assets.Effects OF PRACTICING CORPORATE GOVERNANCE AT THE BODY SHOPWith respect to the entrepreneurship patterns followed by Anita Roddick, the company has been able to accomplish complete control of all the affairs refering the company and its stakeholders. The ego doggedness and duty to the responsibilities by all the employees of the company and their obeisance to the company Torahs and ordinances all of which have contributed to the development of the corporation as a whole. The Board has changeless belief in the fact that that all the informations pertaining to the fiscal information and other facts sing their operations that are presently being practiced are dependable. The authorization of the Board is clearly recognized within the company because of which it is able to hold a solid clasp on the corporation ‘s existent operations, stakeholders and its fiscal concerns. The well defined construction of the organisation and the committedness of the board towards the stakeholders and the community has proved the fact that the organisation can manage both its ethical and legal duties expeditiously. The company maintains good dealingss and unfastened communications with its investors. The stockholders are on a regular basis invited by the company on a regular footing to discourse trade updates. Furthermore, in one-year general meetings investors besides get an chance to run into the Board members. Private investors can entree the company ‘s web site for assorted services. The company has a good consideration for all its stakeholders be it past, present, or hereafter. There seems to be a really good defined model in the house ‘s corporate division. It has policies and processs with respect to fiscal affairs and operational concerns. Its processs for measuring different sorts of state of affairss that come up is surely good defined. Furthermore, they have ever maintained good dealingss with their stakeholders. And eventually, The Board ‘s authorization has ever remained unexcelled. Clearly, the above mentioned points turn out the strength of the company ‘s corporate administration construction. The failing of this instance is the fact that one can non ever be assured that there are no losingss or other mistakes which may ensue from errors and incompatibilities by one of the commissions or employees involved. In add-on, due to the presence of diverse cultural beliefs there can be internal jobs between the members. There are times when the stockholder is non given adequate information about the position of the company, particularly if that stockholder which holds a little portion in the concern. This happens when the board of managers do non supply value to their stockholders. Other negative facet includes the restriction of fiscal coverage processs which may decidedly ensue in uneffective corporate governance.AEthical motive AT THE BODY SHOPMotto: â€Å" Nature ‘s manner to Beautiful † Body store has invariably sought out fantastic natural ingredients from all across its Earth and strives to protect this beautiful planet and the people who depend on it. The Body Shop believes that concern has the power to do the right sort of difference to the universe. This rule allows all clients round the Earth to go militants The first cosmetics company to beginning harvested palm oil and present the ingredient into the beauty industry, working in partnership with a certified organic manufacturer in Colombia, in 2007. In 2008 debut of 100 % PCR bottles ( post consumer recycled ) Community Trade plan creates sustainable merchandising relationships with deprived communities around the Earth and provides indispensable income to more than 25,000 people. The Body Shop continues to raise consciousness and support for adult females across the universe affected by domestic force in 2008. Launch of Stop Violence In The Home run runs in more than 55 states and has raised more than US $ 4 million. In 2008campaign to raise consciousness of HIV and AIDS among immature people, working with MTV Networks International was carried on. The Body Shop has committed to go Carbon Neutral by 2010, guaranting that C dioxide emanations from the company ‘s nucleus retail concern worldwide are reduced to a big extent. The Company is committed to merchandising ethically. The sourcing squad is trained in ethical audits and trade with providers who abide by the Code of Conduct for Suppliers.Corporate GOVERNANCE AT NESTLENestle is committed to the following Business Principles in assorted states it operates in, taking into history all the local statute laws predominating within that peculiar state, cultural and spiritual patterns: Nestle ‘s concern aims, and that of direction and employees at all degrees, is fabricating and marketing the Company ‘s merchandises in such a manner so as to make value that can be sustained over the long term for stockholders, employees, consumers, concern spouses and all the other stakeholders. Nestle does n't prefer short-run net income at the disbursal of successful long-run concern development, but recognizes the demand to make healthy net income every twelvemonth in order to keep the support of our stockholders, maintain them content, and the fiscal markets, and to finance investings. Nestle recognizes that its consumers have a sincere and legitimate involvement in the behaviour, beliefs and actions of the Company behind trade names in which they have their trust, and that without its consumers the Company would non hold come into being. Nestle believes that statute law is most effectual precaution of responsible behavior. Nestle is witting of the fact that the success of a company is a contemplation of the professionalism, behavior and the responsible attitude of its direction and the employees working in that company. Therefore, enlisting of the right people at the right clip and preparation and development are the critical factors in any company ‘s success. Nestle operates in assorted states and in many civilizations throughout the universe. The rich diverseness is a really valuable beginning for a company ‘s direction.National Legislations and International RecommendationsNestle emphasizes that its employees must stay by the Torahs applicable in the states in which it operates. Nestle ensures that the highest criterions of responsible behavior towards its client and the society are met throughout the organisation, by following with the Nestle Corporate Business Principles, which guides the Company ‘s activities and relationships worldwide in each sector of concern involvement. The company supports and widely advocates the United Nations Global Compact and its 10 rules, an enterprise of the Secretary-General of the United Nations. The Global Compact asks the companies to take up, support and enact, within their domain of influence, a set of nucleus values in the countries of human rights, the international labor criterions and the environment. The company besides recognizes the fact that increasing globalisation is taking to the development of more and more international recommendations. Although, as a regulation, these recommendations are addressed to authoritiess, they doubtless impact the concern patterns. Among others, Nestle has incorporated relevant International Labour Organization Conventions, and the International ( WHO ) Code of Marketing of Breast-milk Substitutes into its policies. Nestle endorses relevant committednesss and recommendations for voluntary self-regulation issued by competent companies in the same sector, provided they have been developed in full audience with the parties concerned. These include the International Chamber of Commerce ( ICC ) Business Charter for Sustainable Development. Besides, Nestle uses the Organization for Economic Co-operation and Development ( OECD ) Guidelines for Multinational Enterprises, approved in June 2000, as a mention point for its Corporate Business Principles.Corporate GOVERNANCE FAILURESWORLDCOM BANKRUPCYWorldCom the universe ‘s 2nd largest telecommunication company had filed for bankruptcy in the twelvemonth 2002 in Manhattan after the revelation of monolithic accounting abnormalities. The divergences from corporate behavior happened because of the Board of managers who failed to acknowledge, and to cover efficaciously with, maltreatments reflecting what was identified as a â€Å" civilization of greed † within the corporation ‘s top direction. Others resulted from a failure of responsible individuals within the company to carry through their fiducial duties to stockholders. Another lending factor was a deficiency of transparence between senior direction and the Company ‘s Board of Directors. There was a complete dislocation of corporate administration. The cheques and balances intended to forestall error and abnormalities failed to run. The cheques did n't balance and the balances did n't fit. The existent fraud which took topographic point in WorldCom consisted of a figure of â€Å" topside accommodations † to accounting entries to shore up up worsening net incomes. Largely these comprised of improper drawdowns of militias accumulated from its acquisition plan and other beginnings and improper capitalisation of costs which should hold been expensed for. While WorldCom has non completed the restatement of its financials, the company overstated its income by about $ 11 billion, overstated its balance sheet by about $ 75 billion and, as a consequence, caused losingss in the stockholder value of every bit much as $ 250 billion, a important sum of which affected the employee retirement financess. During the 1990s, favourable market positions of WorldCom was sustained by a series of acquisitions. The company was in an almost-constant acquisition during this period. This generated great force per unit area to maintain the stock monetary values high in order to fuel the acquisition fling and to supply moneymaking cash-outs for executive stock options. To make this, the company had to run into Wall Street ‘s net incomes outlooks, but when, in 2000, a proposed amalgamation with Sprint was disapproved by the authorities and the telecommunications roar came to an terminal, WorldCom net incomes began to steal. Management foremost sought to use its aggressive accounting techniques to better its gnawing fiscal image. But when these were exhausted, the direction resorted to false entries to bring forth what could portray as echt net incomes and enable them to do the Numberss and sustain the image of a company go oning to run into Wall Street ‘s net incomes marks. As a conseq uence, during the last 13 quarters prior to bankruptcy, the Company systematically reported that it met those marks, but the fact was it missed them in 11 out of 13 of those quarters and, in the last four quarters, really should hold reported losingss. The balloon eventually collapsed in 2002 when internal hearers eventually fingered significant impropernesss and the top functionaries were fired or resigned, net incomes were restated, SEC and condemnable probes had been initiated which resulted in bankruptcy. The company ‘s attack to trades was wholly adhoc and with small meaningful or consistent strategic planning. The board used to O.K. billion dollar trades with no treatment or really less treatments. WorldCom direction or the Board of Directors ne'er even bothered to supervise the Company ‘s debt degree and its ability to fulfill its outstanding duties. WorldCom ‘s issue of more than $ 25 billion in debt securities in the four old ages predating its bankruptcy was clearly facilitated by its immense accounting fraud which allowed it to falsely stand for itself as creditworthy. The Board once more passively used to acquire the proposals approved through consentaneous consent declarations which were adopted with really small or no treatment. The compensation commission of the Board agreed to supply tremendous loans and a separate guarantee for Mr. Ebbers ( manager ) without ab initio informing the full Board or taking appropriate stairss to protect the Company. The Board was besides considered at mistake for non raising any inquiries about the loans following, without meaningful consideration, the recommendations of the compensation commission. Another ground was the absence of internal controls as a cause of this fiasco was the deficiency of transparence between senior direction and the Board of Directors at WorldCom. A civilization and internal procedures that discourage or forbid scrutiny and comprehensive inquiring are engendering evidences for deceitful misbehaviors. In conformity with the accounting abnormalities, these defects created the semblance that WorldCom was far more healthy and successful than it really was. The audit commission of the Board failed to invent a work program with the internal hearers and the outside comptrollers. The internal audit operation within the company was intentionally diverted off from scrutinizing duties and forced to concentrate upon increased efficiencies and cost film editing alternatively of internal policy framing. Furthermore, it was short-handed, underpaid and under-qualified for transporting out a responsible internal audit map. The company unsuitably styled some $ 20 billion deserving duties by its subordinates to itself as alleged â€Å" royalties † for what WorldCom designated as â€Å" direction foresight † that is, the subordinates were supposed to hold the advantage of WorldCom ‘s â€Å" direction foresight † for which they would pay a fine-looking fee. These â€Å" royalty † sums were accounted in a manner that drastically reduced the nonexempt income of certain WorldCom subordinates for province revenue enhancement intents. However, these sums, while they were accrued, were ne'er really paid to WorldCom.Reasons for prostration:Non conformity to Serbanes-Oxley Act Board lacked sufficient information to carry through its duties. WorldCom ‘s civilization was non by and large supportive of a strong legal map which prevented advocate from run intoing their duties to their corporate clients. Improperly aggressive accounting schemes were proposed by direction. With its ain overambitious schemes and flawed accounting, WorldCom besides fell victim to a oversupply of telecommunications capacity. Cheap and plentiful funding allowed companies quickly to construct transcontinental and transoceanic fibre ocular webs in the 1990 ‘s. The extra capacity resulted in lower monetary values for WorldCom ‘s services, which include phone service and the transmittal of Internet informations for immense companies. The filing for bankruptcy would alleviate WorldCom of approximately $ 2 billion of involvement payments in the coming following twelvemonth. Lower debt costs allowed WorldCom to vie on a stronger bridgehead with its challengers, affecting a likely price-cutting policy refering about the wider strength of the telecommunications industry. In April 2004, WorldCom emerged from bankruptcy and changed its name to MCI, which it acquired in 1998. Ironically, holding shed $ 36 billion in debt, WorldCom emerged from bankruptcy with a improved balance sheet than most of its rivals. It besides wound up with a corporate name respected for its radical attempts in telecom.A Corporate GOVERNANCE FAILURE AT ENRON On December 2, 2001 Enron, the so 7th largest corporation in US had filed for bankruptcy. It resulted in one million millions of dollars being lost, 1000s of people losing their occupations, and a big sum of employee ‘s retirement nest eggs had been wiped out. Billions of U.S. dollars had been concealed in the balance sheet of the company which had overstated its income by $ 600 million. The public presentation inducements created a clime where employees were required to bring forth net income at the disbursal of the company ‘s declared criterions of moralss and strategic ends. Enron had all the constructions and mechanisms for working towards good corporate administration. In add-on, it had besides framed a policy for corporate societal duty and a sensible codification of behavior on security, human rights, societal investing and public battle. Yet the job occurred as no 1 followed the codification. Impact on the Company ‘s Finance: Decreasing investor assurance ( negative ) Retreat to simpleness & A ; easy to understand theoretical accounts ( positive and negative ) . Increased call for corporate transparence ( positive ) . Review of hearer and adviser relationships ( positive and negative ) . Tax return to financial conservativism and patterns ( positive and negative ) Name for increased ordinance and examination ( positive and negative ) . Political radioactive dust on all degrees ( negative ) . The Board was found to hold failed in its responsibilities in the undermentioned countries: Fiduciary failure Bad accounting Inappropriate struggles of involvement Extensive undisclosed off the books activities Excessive compensation to the managers Lack of independency The job started off when the board of managers allowed the direction openly to go against the codification, peculiarly when it allowed the CFO to function in the particular purpose entities ( SPEs ) and besides the audit commission suspected false accounting patterns but still it made no effort to analyze the SPE minutess. So the hearers failed to forestall questionable accounting. Failure of Enron resulted as a consequence of a struggle of involvements that occurred the directors to move at the disbursal of the stockholders. Internal control steps besides failed to work. The action taken by Enron made a false visual aspect by misdirecting the market by demoing greater creditworthiness and fiscal stableness. Even after Enron ‘s failure the market for barters and derived functions worked without any breaks and worked as expected. The market did what it was expected to make i.e. to utilize repute as a agency for supervising market participants. Hearers failed because of non keeping their unity and independency in their working. The hearers commission had to proactively map and supervise the determinations to guarantee that a realistic position is presented to the users of the fiscal statements of the company. Enron created partnerships with nominally independent companies, some of which were offshore. This was fundamentally done to befog debt exposure and allegedly to cover losingss at Enron ‘s entity. Enron ‘s board members were misinformed and mislead. The significant information about Enron ‘s programs and activities were hidden from the board. The board had nevertheless failed in its oversight responsibilities. High hazard accounting policies were being followed. The company was found to be in non conformity of Generally Accepted Accounting Principles. Enron ‘s multi-billion dollar, off-the-books activity was disclosed to the Enron Board members and received Board blessing as an expressed scheme to better Enron ‘s fiscal statements. In fact, Enron ‘s monolithic off the books activity could non hold taken topographic point without Board action to set up new particular purpose entities, issue preferred Enron portions, and pledge Enron stock as the collateral needed for the trades to travel frontward. In the terminal, the Board knowingly allowed Enron to travel at least $ 27 billion or about 50 per centum of its assets off balance sheet. Enron ‘s board failed in its fiducial responsibility to guarantee equal public revelation of its assets and liabilities. None of the board members objected to this corporate scheme. Enron provided its executives with unreasonable munificent compensation. Stock options were distributed to all the executives in big Numberss. It was argued that the company used to make this in order to pull and retain the good executives.