Difference Analysis Between IS And IT

Difference Analysis Between IS And IT Introduction: Information technology (IT) and management information systems (MIS) are interchangeable terms (Kearns, 1997). They are a set of interrelated computerized components that work together to collect, retrieve, process, store, and distribute information for the purpose facilitating planning, control, coordination, analysis and decision-making in organizations (Laudon Laudon, 1998). In the foodservice industry IT is commonly used for order processing, marketing, accounting, and site selection of new restaurant units. Whether a small independent or part of a large chain, many restaurants use established point of sale systems and accounting packages to process financial data. The Study is running with fully computerised and IS philosophy based so that the company is controlled in IT infrastructure and IS strategy will be described here for the future benefit of the company. By adopting frameworks necessary in characterising comprehensiveness, focus and formulation, firms may be able to incr ease rationality, while inducing increased participation and enhanced consistency. Improving the planning cycles of IS and SDLC (System Development Life Cycle) activities have also been proven instrumental in enhancing planning effectiveness. In some cases, such difference manifests itself through policies to save all enterprise information indefinitely, or to delete all data after brief periods of time. Traditional approaches to information management are often designed to mitigate risk; firms respond to regulatory and compliance requirements. Information compliance investments, for example, should be cost-managed, as providing compliance in excess generally adds little value and can be an inhibitor. The information to answer such questions often exists within an organizations IT systems, and requires minimal effort to answer once the key questions are identified by the senior executive team and business leaders. Answering key questions often requires minimal information and invest ment. Using an experimental approach similar to statistical sampling can provide the answers to key business questions quickly and dynamically. Aims And Purpose Of The Study: Many firms are focusing on using integrated databases and end-user computing which some experts believe threatens the role of the information provider in organisations. However, providers of data have contributions to make associated with decision making which are beyond just interpreting or supplying information. Some common decision-making-linked roles include facilitating a common database for group decisions; supplying effort and expertise in gathering information; and providing audit trails of data associated with certain decisions. Firms interested in maximising the contributions of information providers are advised to clarify and incorporate providers roles into the development of significant information systems within firms The explosion of data is most apparent in the realm of unstructured data. As businesses strive to automate processes and extend the IT environment to the point of service, an ever increasing amount of data is being retained electronically. Lowering the overall cost of ownership associated with storing and retrieving a growing volume of structured data assets is a challenge, and requires data and content servers that enable innovation while delivering rock-solid reliability. Flexible storage options and the know-how to put it all together round out a solution that helps you leverage information — lots of information. Deploy powerful servers that scale to meet your growing needs. Reduce the time spent searching for information. Escalating information volumes put your infrastructure to the test. Delivering high performance while lowering costs requires. IBM solutions-simple, flexible and optimized-will help you find the right content and get it to the right people and business processes at the right time, so you can improve efficiencies, increase responsiveness, and gain greater insights into your customers, the market and your business. Leverage and analyze information on demand to optimize all transactions in the call centre or in the field, when helping customers or when taking orders. Overcome the complex architectural and usability issues associated with traditional data warehouse and business intelligence approaches. Leverage information for competitive advantage and get more value out of your information Understanding computer hardware When you talk about computer hardware, you have to talk about the specifications. On a given desktop systems describe the speed and capability of that particular computer. If you are about to buy a computer, you should at least understand enough about each heading below to make an informed comparison between two different machines with different configurations. CPU central processing unit At the core is the processor. Speed is measured in Mhz. One other parameter of the CPU to investigate is the L1 cache, commonly from 256 kilobytes and up. RAM random access memory This determines how many files you can open at once; also ram is a form of computer data storage. So if ram is high computer performance should be better. Hard disk capacity Hard disk is measured in MB (megabyte) or GB (gigabyte). With the advent of so many mass-storage devices (zip drive, CD-R, super drive, etc) and networks where files and applications can be archived, huge disks (many GB) are very handy, but hardly necessary for most users. No matter what size your hard drive, you should keep it clean by weeding out outdated, redundant, and useless information (files and folders). Cache memory Check the upgradeability of your cache memory to fine tune your computer. The cache memory is a special type of RAM which the processor uses to store data in while it is working. The level 1 cache (or L1) is physically located on the CPU chip (and hence cannot be upgraded, unless you upgrade the CPU), whereas the level 2 cache (L2) is located on the motherboard, and can be upgraded separately. Video card/VSA card The amount of RAM and quality (and number) of microprocessors on the video card determine things like how big a monitor you can use, how large a window you can display video on, and the speed with which large complex graphic images display. Some of the newer video cards have 4 MB, 8 MB or more. Sometimes it is possible to upgrade a video card by adding a graphics accelerator card rather than replacing the video card with another newer version. Sound card The MIDI standard is used to convey music from computer to computer, (or keyboard to computer etc) and most good soundcards will play at least 32 MIDI voices. The other aspect of a soundcard is how well it plays digital sound files (like from a CD). Most of them do this extremely well also. If you are interested in music or sound, you want to investigate the software that comes bundled with your soundcard (or whatever software you have purchased to work with your soundcard). Traditionally, the sound card also has a port on it to plug in your joystick(s) if you play games on the computer. Removable storage Choices range from 3.5 1.44MB floppy drives, 100MB zip drives, 120MB super drives, 650MB CD-R, and on up to 1.5GB removable hard drive cartridges and higher now. Of course there are thousands of other choices including tape, optical drives, and surely many more available. Remember to price the storage media per Megabyte when buying. I personally like the CD-R idea since more people have CD-ROMs to read the recorded data. A programmable machine, two principal characteristics of a computer are: It responds to a specific set of instructions in a well-defined manner. It can execute a pre-recorded list of instructions (a program). Modern computers are electronic and digital. The actual machinery wires, transistors, and circuits is called hardware; the instructions and data are called software. A computer network is a collection of computers and devices connected to each other. The network allows computers to communicate with each other and share resources and information. The Advanced Research Projects Agency (ARPA) designed Advanced Research Projects Agency Network (ARPANET) for the United States Department of Defence. It was the first computer network in the world in late 1960s and early 1970s. Computers can be generally classified by size and power; as follows, though there is considerable overlap: Personal computer: A small, single-user computer based on a microprocessor. In addition to the microprocessor, a personal computer has a keyboard for entering data, a monitor for displaying information, and a storage device for saving data. Workstation: A powerful, single-user computer. A workstation is like a personal computer, but it has a more powerful microprocessor and a higher-quality monitor. Minicomputer: A multi-user computer capable of supporting from 10 to hundreds of users simultaneously. Mainframe: A powerful multi-user computer capable of supporting many hundreds or thousands of users simultaneously. Supercomputer: An extremely fast computer that can perform hundreds of millions of instructions per second. Computer networking is the engineering discipline concerned with communication between computer systems or devices. A computer network is any set of computers or devices connected to each other with the ability to exchange data. Local area network (LAN), which is usually a small network constrained to a small geographic area. Wide area network (WAN) that is usually a larger network that covers a large geographic area. Wireless LANs and WANs (WLAN WWAN) are the wireless equivalent of the LAN and WAN. Difference Analysis Between IS And IT In a general sense, the term Information System (IS) refers to a system of people, data records and activities that process the data and information in an organization, and it includes the organizations manual and automated processes. In a narrow sense, the term information system (or computer-based information system) refers to the specific application software that is used to store data records in a computer system and automates some of the information-processing activities of the organization. Information technology (IT), as defined by the Information Technology Association of America (ITAA), is the study, design, development, implementation, support or management of computer-based information systems, particularly software applications and computer hardware. IT deals with the use of electronic computers and computer software to convert, store, protect process, transmit, and securely retrieve information. The new information technology (IT) infrastructure: The new IT infrastructure links desktop workstations, network computers, LANs, and server computers in an enterprise network so that information can flow freely between different parts of the organization. The enterprise network may also be linked to kiosks, point-of-sale (POS) terminals, PDAs and information appliances, digital cellular telephones and PCS, and mobile computing devices as well as to the Internet using public infrastructures. Customers, suppliers, and business partners may also be linked to the organization through this new IT infrastructure. Understand Computer-Aided tools Computer-Aided Software Engineering (CASE), in the field of Software Engineering is the scientific application of a set of tools and methods to software which is meant to result in high-quality, defect-free, and maintainable software products. It also refers to methods for the development of information systems together with automated tools that can be used in the software development process. The term Computer-aided software engineering (CASE) can refer to the software used for the automated development of systems software, i.e., computer code. The CASE functions include analysis, design, and programming. CASE tools automate methods for designing, documenting, and producing structured computer code in the desired programming language. This is the model for an extra net. IS (information system) design for a mobile phone company: As I have to design one companys IS design I choice the phone company. In this IS design everything is shown as far I know. This mobile company will be connected intranet system to every department. We know that intranet system will work with the internal system. With the intranet system every department will be very helpful as if they need any information they can easily get via the computer. Also they need the pc to every department. It is also connected to the internet to communicate. Using the internet they also benefitted to get the information. They need to build up a website where they can put all the information. So customer relationship will be build via the internet. Also customer can know the product and offer via internet. 1 a) What information would you require to make such decisions? Strategic planning deals with the determination of the objectives, resources, and policies of the organization. In this case, management has their planning and control of their restaurant business. The system provides up-to-the-minute information on the food items ordered and breaks out percentages showing sales of each item versus total sales. This helps management plan menus according to customers tastes. The system also compares the weekly sales totals versus food costs, allowing planning for tighter cost controls. Managerial Control is one of the managerial functions like planning, organizing, staffing and directing. It is an important function because it helps to check the errors and to take the corrective action so that deviation from standards are minimized and stated goals of the organization are achieved in desired manner. Control in management means setting standards, measuring actual performance and taking corrective action. Thus, control comprises these three main activities. In this case, this system helps management plan menus according to customers tastes. The system also compares the weekly sales totals versus food costs, allowing planning for tighter cost controls. In addition, whenever an order is voided, the reasons for the void are keyed in. This may help later in management decisions, especially if the voids consistently related to food or service. Operational control serves to regulate the day-to-day output relative to schedules, specifications, and costs. The most difficult task of management concerns monitoring the behaviour of individuals, comparing performance to some standard and providing rewards or punishment as indicated. Sometimes this control over people relates entirely to their output. For example, a manager might not be concerned with the behaviour of a salesman as long as sales were as high as expected. In other instances, close supervision of the salesman might be appropriate if achieving customer satisfaction were one of the sales organizations main objectives. In this case study, acceptance of the system by the users is exceptionally high since the waiters and waitresses were involved in the selection and design process. All potential users were asked to give their impressions and ideas about the various systems available before one was chosen. This is their Operational control part. After studying this case I find that up-to-the-minute information on the food items ordered and breaks out percentages showing sales of each item versus total sales. Whenever an order is voided, the reasons for the void are keyed in. This may help later in management decisions, especially if the voids consistently related to food or service. And all potential users were asked to give their impressions and ideas about the various systems available before one was chosen. b) What would make the system a more complete MIS rather than just doing transaction process? This business can be more MIS if management provide and use more information related to the business. This system helps management to taka decision. Its ‘out of stoke process shows that which items is doing more business and which is doing less. Then they can decide which product they need to emphasize more. End of month they can analyse the data of four week. Other features such as order void system check listing, item sales, total sales, customer opinions etc. can make this system more complete MIS rather than transaction process. c) Explain the probable effects that making the system more formal would have on the customers and the management A waiter takes an order at a table, and then enters it online via one of the six terminals located in the restaurant dining room. The order is routed to a printer in the appropriate preparation area: the cold item printer if it is a salad, the hot-item printer if it is a hot sandwich or the bar printer if it is a drink. A customers meal check-listing (bill) the items ordered and the respective prices are automatically generated. When the kitchen runs out of a food item, the cooks send out an ‘out of stock message, whenever an order is voided, the reasons for the void are keyed in. This may help later in management decisions, especially if the voids consistently related to food or service. All potential users were asked to give their impression and ideas about the various systems available before one was chosen Above mentioned functions make this system more formal on customer and the management. 2 a) What security loopholes come to the fore in the situation described? How can these be plugged? If we plunged in to this case we find that while assessing hardware and software requirements, it was found that out of the 364 desktops at the corporate office; more than half did not have their antivirus software updated with recent virus signature files. Three fourths had not changed the default e-mail password (it was the user name) and no one had installed OS patches. And one of its local mail servers seemed to be an open relay! For a fleeting moment, system manager of SystemX wondered about the situation at the seven branch offices across the country. SystemX used the Net extensively in dealing with its branches, customers and suppliers. Information like contract documents, marketing plans, Cheque and Draft numbers, bank account details and collection details were regularly transmitted by e-mail. These loopholes come into our mind. These loopholes can be plugged, if they update their antivirus which is virus signature files free. Because they use e-mail, and Net extensively so they need strong security measure in order to secure their system. b) What is the importance of a â€Å"security budget† in the context of the given situation? Security budget is one of the important parts of every business. In this context â€Å"Security Budget† is very important. They need to provide security to their system. If manager recommends for appointing a new security consultant then it may not be granted because of budget. Any how they need to provider security. 3 a) What systems propose that would serve the companys need? The multibase company limited has so many manufacturing products. It is very difficult to control the whole companys activities. On the other hand now it is the age of information technology so we should use this technology to everywhere. I propose that we can use the CBIS means computer base information system. b) Complete overhaul of the systems or add functionalities of the existing systems? Justify the line of action. This company has a CBIS which are prepared the performance of every unit though weekly and monthly reports. With this reports headquarters always analyze and make the decision such as capacity expansion, procurement of new technology involving substantial investment, etc. This helps the companies planning and control. c) Justify the requirement of chief information officer (CIO) in the context given case let. The cio of the company has thus propose to develop suitable computer base systems which might be helpful in understanding the current status of various manufacturing units in terms of their overall performance, the type of environment constraints that operate in the three business that exist for enhancing capacity in these business areas. 4 a) Is that digital systems are unreliable and carries enormous risks? Yes. It is. No digital system can be guaranteed to be _PERFECT_ and hence may have any type of problems. This is actually because human beings are not perfect in their design and work. b) Explain three situations to minimize damages due to failure of digital system. For case 1: There should be transaction logging mechanism so that it can roll back upon administrators command. A manual book-keeping can be used too for all types of transactions so that in case of failure it can be used. For case 2: There should be manual communications used when digital systems delay for some reason. For case 3: Enough communications with service users should take place before upgrade policy. In all communication channels there should be advertisements and assumed timeline for the probable disaster. Decision Support Systems welcomes contributions on the concepts and operational basis for DSSs, techniques for implementing and evaluating DSSs, DSS experiences, and related studies. In treating DSS topics, manuscripts may delve into, draw-on, or expand such diverse areas as artificial intelligence, cognitive science, computer supported cooperative work, data base management, decision theory, economics, linguistics, management science, mathematical modelling, operations management psychology, user interface management systems, and others. The common thread of articles published in the journal will be their relevance to theoretical, technical DSS issues. Group Decision Support Systems (GDSS) are a class of electronic meeting systems, a collaboration technology designed to support meetings and group work. GDSS are distinct from computer supported cooperative work technologies as GDSS are more focused on task support, whereas CSCW tools provide general communication support. Group Decision Support Systems (GDSS) were referred to as a Group Support System (GSS) or an electronic meeting system since they shared similar foundations. However todays GDSS is characterized by being adapted for a group of people who collaborate to support integrated systems thinking for complex decision making. Participants use a common computer or network to enable collaboration. Who is the typical user of the system currently? For the organization manager mainly takes the decision. Suppose to open a new account there should be some criteria (credit score). It is also used in agriculture section. Dss is well-established tradition within agriculture. Holsapple takes a different view. Decision-support systems are so pervasive in their use that people dont even think of them as DSS, he says. He points to the spreadsheet as one of the most common ones used in business today. And, he says, most executives use corporate planning tools with DSS capabilities in them. Graphical User Interface Design Process For The Decision Support System In general, the GUI design process can be split into twelve steps (Galitz, 1997): 1. Know your user 2. Understand the ‘business function 3. Use good screen design 4. Select the proper types of windows 5. Develop the system menus 6. Select the proper device-based controls 7. Choose the proper screen-based controls 8. Organize and layout the windows 9. Choose the proper screen colours 10. Create meaningful icons 11. Provide meaningful messages 12. Test, test, and retest Following the design process, a questionnaire was prepared to better understand the ‘typical environmental professional who would be using the GUI. Questions were divided into several Categories: computer hardware and software literacy, user profile, and talk analysis. Some of the questions, although basic in nature, were required to ascertain the type of computer operating system to design for and the types of support system that would be incorporated in the design. I am not using any dss system for my academic career yet. But it will be very helpful to use in my future career. Questions no Questions Answers 1 Employee name: Employer name: Work place address: Work telephone no: Job title: No of years on current job: Years of computer experience: Md. Ayub Ali Saleh Z Rahman 12th floor, national scout bhobon, kakrail,Dhaka-1000. 0088029335395 Chief software architect and developer. Five months 10 yrs 2 What kind of computer system do you use? Apple MacBook Laptop, Mac OSX Leopard, programming software (compiler (gcc) and other Unix system administration tools), printer, Scanner, Mobile phone (for Internet through it), Apple Time Capsule (for backup), etc. 3 What kind of training have you received in order to use computer system effectively? Do you find the IT technical staff in your firm to be helpful and easy to work with? I have received B.Sc. in computer science and Engineering from a reputed university. I am self learner for using computer systems effectively. Our IT Technical Staff are helpful. 4 What business processes are supported by the IT systems in your workplace? Structured model of software development. 5 How does management use the IT system to support their activities? Management use intranet and internet to support their activities. 6 Is your system part of a network? Who is the network administrator? How often do you interact with the administrator? What kinds of issues do you discuss with the administrator? Yes, my system is part of a network. We have more than one network in our office. I am network administrator. There is different system administrator. I dont interact with system administrator that much. Very rare case I need him solve problems. Mainly we discuss about Internet connectivity issues with system administrator. 7 Are your computer systems connected to your customers, suppliers or partners? Describe how the system is used to connect to these entities. Our workstations are not connected to customers. But our servers are connected to mobile operators for providing services to customers. The servers are connected to operators via the Metronet network who provides connectivity with all major mobile companies and content/service providers. 8 As your career has progressed, what changes in IT have you noticed and how have these changes in IT contributed to your performance? Every time IT is changing as the new technology comes. So there need to be trained for the new technology. 9 Has using the computer system at work influenced your life outside of work? What way? Yes, my work has influenced my life outside of work. I have learnt how the telecommunication systems work and how services are provided to customers. Also I learnt how the communication between operator and service providers are established. 10 What advice would you give to a new employee about the IT supported workplace? The new employee should have eagerness to learn the underlying system well to provide good service to customers. Also he should be hard working and should be habituated to self-learning. 11 Which service provider do you use for internet? Grameen. 12 What is internet rate of communication speed? 10-20 kbps. 13 Which search engine do you use? Google. 14 Do you like to use internet for online business transaction? Yes. But security issue is main problem here. 15 Do you think internet is essential for daily life or not? Yes. Everyday life internet is very essential. I can communicate via email trough the world. The assignment is divided into four parts. All the four parts is done in here. I have done this assignment by using the books, lectures and from websites.

Corporate Governance Benchmarking

Running head: CORPORATE GOVERNANCE BENCHMARKING Corporate Governance Benchmarking University of Phoenix Corporate Governance MMPBL 570 November 30, 2009 Corporate Governance Benchmarking McBride Financial Services Inc. is a low cost mortgage provider located in Boise, Idaho, Montana, Wyoming, as well as North and South Dakota. Recently, Beltway Investments became the majority investor in McBride Financial Services, Inc. As a result, McBride’s CEO needs the board of directors’ collaboration while setting up internal governance controls and ensuring proper auditing. To secure that corporate governance benefits the company and investors, McBride’s CEO needs to consider benchmarking. Thus, the authors of this paper examine the benchmarking of Adelphia Communications, Tyco, Calpine Corporation, and Tyson Foods to help develop best practices for McBride Financial Services, Inc. Accordingly, Chew and Gillan (2005) state, â€Å"The role of top management is no longer just control and coordination; it is anticipating, leading, and managing change and articulating the rationale for such change to employees† (p. ). Hence, the lack of corporate governance could not be demonstrated better than the rise and fall of Adelphia Communications. Adelphia Communications was at one time the fifth largest cable provider in the United States. The company was controlled by John Rigas, the founder of Adelphia, and his family; they controlled 60 percent of the total voting shares. The family considered Adelphia funds their own personal funds and spent them lavishly on everything from airplanes to professional sports teams. When all was finally revealed, the Rigas family received $3. 4 billion in loans from Adelphia. The company eventually filed for bankruptcy and was split up in a buyout by Time Warner Cable and Comcast (Comcast, 2006). McBride Financial Services, Inc. (MFSI) is a small company controlled by McBride, the CEO. He is looking to move to the next level, like Adelphia. MFSI has recently formed a partnership with Beltway Investments to allow growth into a regional financial services provider and form a board of directors. It is not a partnership. It is a corporation and owned by Hugh and Beltway. They are not partners which is a different legal form of business. The company needs to embrace the board of directors as an independent oversight committee and not as rubber stamp committee, yet this is the initial direction the CEO wants the board to take (University of Phoenix, 2009). Adelphia Communications failed because the board was part of the corruption and independent from the daily operations of the company. The CEO needs to also allow an external accounting firm to conduct regular audits, regardless of the results, of the company to ensure the corruption of Adelphia is not duplicated because â€Å"The way boards are structured, meeting every other month, they have to rely on outside advisers† (Patsuris, 2002). Another situation to consider is the decline of the stock prices for Tyco, turning out to be quite detrimental because of the same actions of Kozlowski, the former CEO; he failed to lead the company affectively. Kozlowski was found guilty of using company funds for his personal expenses (Cummins, 2006). Even though he was found guilty, the company’s image is still flawed and questioned, the same as the value of company stock prices. Nevertheless, Eric Pillmore is in the process of reclaiming the company’s image by reconstructing and communicating a well built ethical atmosphere. Pillmore may be strict and enforce control to help the company; perhaps if the control had been maintained through corporate governance in the past, and if employees had been at ease in bringing issues to the fore front, Kozlowski would not have been able to send the company into the tailspin it has experienced (Cummins, 2006). MFSI can learn valuable lessons from Tyco; in conjunction with legal action and a marred company because of inadequate corporate governance, Tyco has made strides in changing its business environment. Tyco has managed to make improvements, from restructuring the company ethics statement, to meeting each employee personally, supplying them with a company ethics statement, and publishing a quarterly report on any problems employees brought to the company’s attention, and compiling the findings and disciplinary actions (Cummins, 2006, para. 3). Pillmore may be strict and controlling but he has turned Tyco around by improving employee behavior, creating a trustful environment and communicating with Tyco employees. MFSI’s CEO needs to consider such changes as Tyco has implemented, to be in compliance with federal guidelines, build trusting relationships with his employees and change the tone of MFSI’s corporate culture by adhering to a new corporate governance plan. Basically, in critiquing and analyzing the roles of the key leaders of corporate governance to assess the function of ethics in compliance, key concepts and the best practices of Calpine Corporation have also been considered to help MFSI. According to Chew and Gillan (2005), â€Å"During the past decade many CEOs of large companies have become highly visible public figures,† and while MFSI is still evolving, pressure to act appropriately exists (p. 1). This visibility increases accountability for leaders’ corporate governance. In the case of MFSI, the CEO is faced with critical decision making. MFSI’s CEO’s corporate governance has the potential of creating undesirable outcomes. However, to help MFSI, the best practices of Calpine demonstrate how decision making can be executed through the code of conduct guidelines. Calpine is a successful company that despite its business strategies, it was challenged with uncontrollable environmental forces. In 1998, Calpine experienced the effects of deregulation; yet leadership followed the company’s good corporate governance to address the issue. Hence, in comparing MFSI with Calpine, it is noted that Calpine’s leadership is committed to act with integrity and transparency while MFSI’s CEO is behaving unethically by disregarding the board of directors’ and shareholders’ input. Chew and Gillan (2005) declare, â€Å"The performance of companies, good or bad, is often attributed—not only by the press, but by the directors and shareholders of the companies—to the CEO’s personal business savvy and leadership† (p. 2). Therefore, in providing MFSI with good corporate governance best practices, Tyson Foods is also considered. Tyson is a company from which MFSI can learn. MFSI’s CEO wants to control the board of directors. He tells them not to worry about doing any work or meeting more than a few times a year; â€Å"I will handle the real work,† exclaims the CEO (University of Phoenix, 2009). Tyson entered into a settlement agreement that not only cost them a considerable amount of money but also required them to practice proper corporate governance. By trying to control the board of directors, and by not offering incentive compensation and stock options, MFSI’s CEO may soon find that investors do not appreciate his self serving financial gain at the cost of their right to a good return n investment. MFSI’s CEO must take seriously, as Tyson now takes seriously, the need to allow the board of directors to be active in the business of the company and to carry out their duty to protect shareholders’ interests (Friedlander, 2008). Also, MFSI’s CEO must set up proper audit procedures, using an impartial outside aud itor while setting up internal controls. MFSI’s CEO needs to understand that corporate governance procedures are not only for his benefit but also for every investor’s welfare. The CEO needs to include others in the decision making, helping to enhance every stakeholder’s benefits. By creating transparency in their procedures and corporate governance, MFSI can help encourage the board of directors to work collaboratively to provide a good return to investors while creating long term gains that will keep the company running strong. If MFSI’s CEO continues to try to circumvent the company’s processes and make the board of directors a powerless figurehead, his investors might soon become disgruntled and take their investments elsewhere. Conclusion Maintaining state and federal guidelines and staying within the company’s code of conduct can be challenging. Thus, top leaders need to delineate the roles of each person in charge of decision making and correct any incompatible behaviors contrary to good corporate governance. In the case of McBride Financial Services, Inc. , for instance, corporate governance was identified as incongruent with the overall ethical code of conduct and responsibility of top leadership. While the best practices of the companies mentioned in this paper offer fundamental principles to executing decision making in managing the interests of stakeholders, it is also critical to adhere to all Federal ethical guidelines to help mitigate any potential undesired outcomes. Synopsis of Adelphia Communication by Michael Gillespie Issue in the Scenario that is facing the company Adelphia Communications was a publicly held company owned mostly by the founder John Rigas and his family. Adelphia had a board of directors the consisted of nine people, five of them appointed by the Rigas. Over a five year period of time the Rigas family â€Å"loaned† $3. 1 billion dollars from Adelphia. This was $800 million more than what was initially reported during an SEC investigation (Patsuris, 2002). These â€Å"loans† financed everything rom real estate ventures, airplanes, country club memberships, and operating the Buffalo Sabres hockey team. The Board of Directors fired the auditor of the company, Deloitte & Touche, when they began to question some inconsistencies found during an audit (Farrell, 2002). Ironically, Adelphia sued Deloitte & Touche for incompetence. If Adelphia’s board of directors had been independent, the board would have had to r ely on reports from management, external auditors and consultants, in order to determine the company’s status. Unfortunately, Adelphia’s board was so packed with insiders it was hardly in this position. Company response to the issue Soon after the termination of Deloitte, PriceWaterhouseCoopers was selected as the new auditor for Adelphia. The first step for PWC was to re-audit previous year’s financial statements. Two weeks after the hiring of PWC, Adelphia filed for Chapter 11 Bankruptcy protection and was able to secure $1. 5 billion in debt to continue operating. The company hired a new board of directors. To fill these positions the firm went outside the Adelphia umbrella and searched for ethical industry veterans to become board members. John Rigas was sentenced to 12 years in prison and his sons were sentenced to 17 years. Outcomes from the company’s response Adelphia Communications was never able to recover from the lack of corporate governance and the corrupt management of the company. In 2006, Time Warner Cable and Comcast Cable purchased Adelphia for $12. 7 billion in cash and stock options (Comcast, 2006). This deal took over 40 months to complete due to fraud and security investigations and the fact that Adelphia was operating under bankruptcy protection. Synopsis of Tyco by Colleen Holdahl Issue in the Scenario that is facing the company Tyco faced major legal issues in 2002 and was responsible to pay a â€Å"$50 million fine to settle claims that it inflated profits from 1996 through 2002† (Cummins, 2006, para. 3). Dennis Kozlowski, the company’s CEO, was found guilty of embezzling funds to such extravagance as reporting he purchased â€Å"a $6,000 shower curtain† (Cummins, 2006, para. 2) and hosting a â€Å"$2 million birthday party for his wife† (Cummins, 2006, para. 2). With all the turbulence Tyco has gone through, the present leadership is making progress to clean-up the company’s reputation. Eric Pillmore, the current senior vice president of corporate governance, has been the leader of the clean-up. Outcomes from the company’s response Pillmore started ‘cleaning-up’ Tyco by implementing a new corporate governance plan; starting with the replacement of the previous board of directors, developing, and forming a new ethics code. The newly implemented governance plan â€Å"first principle calls for strong leaders who see themselves as stewards of the company and mentors for its future leaders† (Cummins, 2006, para. 9). Pillmore is of the conclusion that some of the former leaders have more concern with their own self significance; seeing themselves as ‘wheeler dealers,’ instead of being responsible and looking out for the best interests of the company. Pillmore also believes one of the most critical functions of his job as chief financial officer is to monitor the finances and act as a mentor to everyone in the company (Cummins, 2006). Among Pillmore’s other philosophies is ‘a web of accountability’ and ‘a robust process to understand why people behave the way they do’. He believes every employee has something to contribute to maintain an ethical business environment and leaders should not be intimidating. Employees should be free to approach their company leaders on ethics and company values issues. Outcomes from the company’s response Eric Pillmore takes the time to meet each employee, supplying them with the company’s ethics statement, and to discuss concerns or issues they may encounter. Tyco â€Å"publishes a quarterly report on any problems employees brought to the company’s attention, then the company’s findings and any disciplinary action- leaving out all employees’ names† (Cummins, 2006, para. 3). After the turbulence and with the help of Pillmore, Tyco has turned around and once again has a positive company image and the stock has recovered most of its value. Tyco received a rating by the Governance Metrics International as â€Å"one of the most improved companies globally; on a scale of one to te n, Tyco rose from a 1. 5 at the end of 2002 to 8. 5† (Cummins, 2006, para. 13). Synopsis of Calpine Corporation by Marisela Jimenez Issue in the Scenario that is facing the company Calpine Corporation is a successful independent power company that has strived to improve its business operations to help it advance its mission, values, and vision. While Calpine has managed to sustain its record high profits, the company, nevertheless, has faced changes in the business environment, particularly in deregulation. In 1998, a national movement, led by state legislation across the country, passed a U. S. Congress bill to accelerate and spread nationwide electric deregulation (FindingUniverse, 2009). This issue affected Calpine’s overall business functioning. Company response to the issue However, Calpine responded to the issue by focusing on the opportunities presented by deregulation. In other words, â€Å"The company’s foundation as a service provider to power plant operators and its subsequent development into a power plant operator itself engendered a vertically integrated enterprise primed for the new competitive era† (FundingUniverse, 2009). Calpine synergized its operations and focused on developing systems to maximize resources by improving conceptual designs, financing, construction, operation, fuel management, and power marketing. Through the synergistic approach to the business of producing electricity, Calpine managed to remain competitive in the market by strategically preserving profits without cutting the highly aggressive rates. The changes in deregulation helped Calpine’s leadership take immediate action by addressing the uncontrollable forces affecting the company. Leadership realized the potential for deregulation and its implications in the company; therefore, when Congress passed the deregulation bill, Calpine’s leadership was competently prepared. Outcomes from the company’s response Calpine’s outcome of the company’s response to the issue helped expedite the acquisition of 46 gas-fired turbines produced by Siemens Westinghouse. This acquisition radically enhanced Calpine’s market presence; leadership identified the opportunity of expansion as a result of deregulation. Basically, â€Å"The combination of Calpine management’s intuitive powers in foreseeing a growing demand for capacity and its willingness to gamble heavily paid handsome dividends,† enabling Calpine to grow into a successful company (FundingUniverse, 2009). Calpine’s leadership, however, ensures that their commitment to good corporate governance adheres to the highest ethical standards; thus, leadership behaves with integrity and transparency while maintaining strong levels of communication with stakeholders, including the board of directors, employees, and the community. Calpine’s leadership decision making is guided by the company’s code of conduct, helping to discourage any illegal and unethical behavior (Calpine, 2009). Synopsis of Tyson Foods by Carole Kindt Issue in the Scenario that is facing the company Over the years Tyson Foods has handled controversial issues concerning their business practices. They have been questioned over their ties to former President Clinton, unsanitary and dangerous conditions in their plants, plants staffed by low-paid workers, and even questionable campaign contributions (Unknown 1, 2009). In 2008, Tyson entered into a settlement with its investors over questionable practices in a case that named Don Tyson, members of his family, and the Board of Directors. The case alleged misconduct in connection with related party transactions and granting stock options to officers and directors of Tyson (Chase, 2008). The settlement agreement approved by the judge in the case ordered Tyson to pay $4. 5 million to their largest shareholders and forced improvements to Tyson’s corporate governance policies (Chase, 2008). As part of the settlement agreement, Tyson agreed not to engage in any new related party transactions without the approval of the Board and also to hire a consultant to evaluate its internal audit and control processes (Chase, 2008). Company response to the issue Tyson’s Board of Directors immediately began fulfilling the terms of the settlement agreement and they have worked to create a strong corporate governance structure. In 2008, the Board appointed a lead independent director and a new chairman of its compensation committee as well as establishing a nominating committee (Unknown 2, 2008). By focusing on their internal controls and corporate governance, Tyson’s board of directors has returned to their fundamental task, to work in good faith to assure they are upholding their fiduciary duties to the stockholders. Outcomes from the company’s response Tyson’s board of directors received a wake-up call that shook them out of their lassitude and encouraged them to make changes that enhance the long term goals of Tyson Foods as well as the return for their investors (Friedlander, 2008). In this way, Tyson will rebuild its reputation and trust with investors as well as fulfill the company’s long-term goals. By creating committees made up of independent, non-biased members, Tyson will create the transparency necessary to rebuild investor trust and build their company for the future. Good choice of companies and relating some of the take-a-ways to McB. Paper easy to read and follow but you could have worked the lesson into McB in more detail. Grade 96 References Calpine. (2009). Corporate Governance. [Online]. Available: http://www. calpine. com/ About/oc_corpgov. asp (2009, November 25). (Chase R 2008 Judge Approves $4. 5M Settlement Against Tyson Foods Directors. )Chase, R. (2008). Judge Approves $4. 5M Settlement Against Tyson Foods Directors. CNA Insurance Journal. Retrieved from http://www. insurancejournal. com /news/national /2008. thm? print=1 database. Chew, D. H. , Gillan, S. L. (2005). Corporate Governance at the Crossroads: A book of readings. 1 ed. ). New York: The McGraw-Hill Companies, Inc. Comcast Press Release. (2006). Comcast and Time Warner Complete Adelphia Acquisitions. July 31, 2006. Retrieved on November 26, 2009 from http://www. comcast. com/About/PressRelease/PressReleaseDetail. ashx? PRID=55. ComcaCCummins, H. J. (2006). Tyco exec makes the rounds spreading the word on corporate ethics. Star Tribune, p. 1D . Retrieved November 23, 2009, from ProQuest database. Farrell, M. (2002). Deloitte Blasts Adelphia on Audit. Multi Channel News. July 8, 2002. Retrieved on November 25, 2009 from http://www. allbusiness. om/company-activities-management/company-structures-ownership/6355799-1. html. (Friedlander J 2008 Overturn Time-Warner Three Different Ways)Friedlander, J. (2008). Overturn Time-Warner Three Different Ways. Delaware Journal of Corporate Law, 33(3), 631-649. Retrieved November 24, 2009, from Business Source Complete database Web Site: http://support. ebsco. com. FundingUniverse. (2009). Calpine Corporation. [Online]. Available: http://www. fundinguniverse. com/company-histories/Calpine-Corporation-Company- History. html (2009, November 25). Patsuris, Patricia (2009). Adelphia Hypocrisy. Forbes. om. Retrieved on November 25, 2009, from http://www. forbes. com/2002/06/10/0610adelphia. html. (Unknown 2 2008)Unknown 2. (2008). Retrieved November 23, 2009, from http://www. tyson. com//C orporate/PressRoom/ViewArticle. aspx? id-2879 Web Site: http://www. tyson. com. (Unknown 2009 Tyson Foods, Inc. )Unknown 1. (2009). Tyson Foods, Inc. Retrieved November 24, 2009, from http://www. fundinguniverse. com/company-histories. /Tyson-Foods-Inc-Company-History Web Site: http://www. fundi nguniverse. com. University of Phoenix (2009). McBride Financial Scenario. Retrieved November 16, 2009 from rEsource student website.

African American Oral Tradition Essay

Modern African American Literature was formed under a stressful time for Africans, slavery. The only way the stories of the indigenous people of Africa were passed down was through oral recollections, or stories of the events. In America this was especially difficult for the slaves because of laws preventing them from learning English. By not being allowed to learn English, the slaves had to learn English solely on auditory purposes. This essentially made the slaves illiterate. When the slaves transferred the language that they heard to paper, a new style of language was formed which was referred to as dialect. Dialect is what the slaves thought they heard and the correct spelling of those words, not standard English. Dunbar, who wrote fluently in both standard English and dialect was praised by white critics only for his dialect poems, and not praised for his poems in standard English. His literacy works are still alive today, however the dialect works were attached with a stigma. Usually whites despised the African’s dialect. Therefore, the slaves would not try to publish any type of work with dialect because the slaves did not want to be associated with the stigma. In all, by creating a unique dialect gave the slaves a bilingual type of style. By not being able to write, slaves also made Genres such as, spiritual, folk songs and gospels. Songs such as these were ways of passing down stories to the next generation. These songs also contained secret messages. These messages may have contained information about escape routes or even the underground- railroad. However most of the songs were spiritual in nature. The songs also progressed through the years. The originals slave folk songs, spirituals, and gospels are now prevalent in modern day jazz and the blues. Martin even gives the example of Hayden, who mixes his song ideas with the ideas of Bessie Smith. Even though African are allowed to read and write, this is a form how their culture is still expressed today. Martin made the emphasis that the oral tradition is part of the African Americans distinct culture.

The Spanish American War Was A Conflict Between Spain And...

The Spanish-American war was a conflict between Spain and America. It ended Spanish ruling in the Americas and resulted in the expansion of territories in the Pacific and Latin America for the US. During this period of imperialism, there were many influences driving the U.S. government. The war started with Cuba struggling to gain their independence from Spain. However, Spain rejected their notions by brutally stopping the Cuban rebellion. Newspapers began portraying Spain as spiteful and the sympathy for the Cuban rebels rose in America. William Randolph Hearst was responsible for exaggerating the truth in the papers about the fight for independence from Spain. Hearst invented a term called â€Å"yellow journalism†, which exploits, distorts, or exaggerates the news to attract readers. A truce was called and Spain allowed Cuba to have limited power of self-government. Nevertheless, the demand for the US to intervene with the conflict grew and it resulted in the sinking of the USS Maine in the Havana Harbor in Cuba. The battleship had an explosion that resulted in 260 sailors dead. The explosion was thought to have been caused by the Spanish even though it was never proven.This led to the start of the war. Spain declared war on the US on April 24, 1898. No American favored Cuban independence like Roosevelt. Teddy Roosevelt was one of the most conspicuous heroes during the Spanish-American war. It is apparent that Teddy favored the Navy. He believed that a strong navy in theShow MoreRelatedCause Of The Spanish American War1406 Words   |  6 PagesCauses of the Spanish-American War In April of 1898 America finally declared war against Spain and this was as a result of the sinking of the Battleship Maine in Havana in February of the same year. After months of war and wrangles, the war came to an end after the signing of the Treaty of Paris on 10th of December 1898.1 The end of the war saw the Spaniards loss complete control over majority of their remaining empires aboard including Cuba, Philippines Islands, Puerto Rico, and Guam among otherRead MoreCause Of The Spanish American War1562 Words   |  7 PagesCauses of the Spanish-American War - In April of 1898, America declared war against Spain and this was a result of the sinking of the Battleship Maine in Havana in February of that same year. After months of war and wrangles, the war came to an end after the signing of the Treaty of Paris on the 10th of December in 1898.1 The end of the war saw that the Spaniards had loss complete control over majority of their remaining empires that were aboard including Cuba, Philippines Islands, Puerto Rico, andRead MoreTaking a Look at the Spanish American War Essay945 Words   |  4 PagesDuring his presidency William McKinley said, â€Å"War should never be entered upon until every agency of peace has failed.† His message never fully reached the American people because in the late 19th century the people were longing for an opportunity to keep up with other empires and they took the first chance they approached. They saw war with Spain as a quick way to prove supremacy and saw plenty of benefits. The Spanish American war was inevitable for America because the people had a strong drive forRead MoreThe Spanish American War Essay894 Words   |  4 PagesThe Spanish American War, also known as â€Å"The Splendid Little War,† was a short-lived conflict between the United States and Spain in 1898. This war was a pretext for the Philippines War. During this time period Spain had control over several territories within the Caribbean because they were still a colonial power. Although Spain had control of the territories of Cuba and the Philippines, the inhabitants began to grow more and more rebellious as time passed. With the tension building between SpainRead MoreWas the Spanish-American War Justified?951 Words   |  4 PagesQuestion: Was the U.S. justified in going to war in 1898? The United States was not justified in going to war with Spain in 1898. The nation was fighting with clear imperialistic intentions in mind; a majority of people saw the Spanish Empire as an obstacle to fulfilling the Monroe Doctrine and allowing American political and economic command over the entire Western Hemisphere, which made any possible chance to depose them feel necessary for progress. To that extent, many feared Spain wouldRead MoreThe Spanish American War During The 19th Century1391 Words   |  6 Pagesend of the 19th century the Spanish-American War was fought between the United States, and Spain. The war started a new beginning for three nations, the United States, Cuba and Spain. At the end of the war an empire would fall and new one would be created and Cuba would become an independent nation. Though battles were fought all over the world the war itself was mostly about Cuban Independence. During the latter half of 19th century Cuba was under the control of Spain. â€Å"Cuba, Spain’s oldest largeRead MoreA New Middle Class Government And The Declaration Of The Second Spanish Republic1362 Words   |  6 PagesSecond Spanish Republic in 1931 until the outbreak of the Spanish Civil War in 1936, Spanish society struggled to establish a stable, representative democracy for only the second time in its long political history. With the spread of industrialization, the rise of a new working class, and the emergence of a new era of political movements, ideals, and philosophical ideologies or â€Å"isms† throughout Europe and the United States—communism, socialism, marxism, anarchism, fascism, etc., Spanish societyRead MoreThe Liberator By Alberto Arvelo896 Words   |  4 PagesBolà ­var called The Liberator, directed by Alberto Arvelo was created to demonstrate the liberation of Latin America during the 1800s as well as the various obstacles Simà ³n Bolà ­var had overcome in order to free his country. The Liberat or was an impactful film that truly demonstrated the hardships and inferiority of indigenous life due to Spain s reign of dominance which drastically damaged the overall tone and development of many Latin Americans. Throughout the duration of the film, various themesRead MoreAPUSH Essays1633 Words   |  7 Pagesï » ¿Analyze the responses to TWO of the following to Secretary of State John Hay’s view that the Spanish American War was â€Å"a splendid little war†; William Jennings Bryan, Theodore Roosevelt, Alfred Thayer Mahan, Emilio Aguinaldo When Secretary of State John Hay stated that the Spanish American War was a â€Å"splendid little war†, he received mixed responses from people such as William Jennings Bryan, Theodore Roosevelt, Alfred Thayer Mahan, and Emilio Aguinaldo. Some people of the Philippines, especiallyRead MoreThe United States Involvement During The Civil War1180 Words   |  5 Pagesof 1898, Spain declared war on the United States. The U.S. prime objective was for the true Cuban independence. In pursuing such goal, the string of conflicts began with the inhumane treatment of Cuban civilians in concentration camps by the Spanish, ‘yellow journalism,† and the sinking of the U.S.S. Maine. The United States involvement in the war was a combination of all of these factors; however, the most influential factor was the sinking of the U.S.S. Maine. The outrage of American citizens advanced

Ocean Hunter Case Study - 1733 Words

Introduction Ocean Hunter is a dedicated Freediving and Spearfishing company that is one of the leading companies within the Freediving and Spearfishing industry in New Zealand. Ocean Hunter was established in June 2007 and is a family business. The Managing Director/instructor/owner (Mike Smith) founded the company based on Mike s passion and strong passion revolving around the ocean. Mike quickly realised there was more to the options available than what the industry had to offer in New Zealand. Greater education and a willingness to share knowledge and techniques were the missing links in the industry, Mike took advantage of this and Ocean Hunter Ltd was founded. Ocean Hunter is the largest online dealer of Freediving and Spearfishing†¦show more content†¦Blue Ocean assessment Ocean Hunter has a very blue oceans approach compared to others in the industry. They were one of the first to embrace the technological advancements and the first to utilise this to their benefit by bringing a unique niche market to the World Wide Web. Ocean Hunter has a state of the art website that follows a simple layout that is extremely informative on products. The option for a live chat with a representative at the store is handy to clear up any confusion regarding products. Positioned in Auckland’s CBD enables walk-in sales as well as online sales. The majority of Ocean Hunters sales are from online with free shipping included and a points redeeming system which enables discounts off next purchases to attract customers to complete transactions (every $100 spent you get $5 off your next purchase). Ocean Hunters business model is considerably different to their main rival Wettie. Wettie is considerably cheaper than Ocean Hunter, Wettie creates their own wetsuits in Indonesia with cheap labour and has a reputation for poor quality products that don’t last as long as Ocean Hunters high-quality products that are sourced from around the world (as well as Ocean Hunters own wetsuits Moray). Ocean Hunter does offer them in-house brand Moray which is a cost-effective wetsuit mainly built in the commercial sector,Show MoreRelatedTrophy Hunting : An Expensive Sport1231 Words   |  5 PagesEvery year, trophy hunters kill tens of thousands of animals, some of them threatened or endangered, exclusively for the thrill of bringing home a trophy . In order to acquire trophies, trophy hunters tend to work with outfitters that arrange equipment, supplies, and often trained guides. This section will further elaborate on the business of trophy hunting. Working with a Trophy Hunting Outfitter Trophy hunting outfitters facilitate trophy hunting outings and thereby make such outings accessibleRead MoreMeteorology : Hurricanes And Typhoons1071 Words   |  5 PagesHurricane Hunters measured a 166kt flight level winds, and a 907mb central pressure, which corresponded to surface wind speeds close to 175 mph [1]. What are the Causes and Impacts of Katina Hurricane Katrina hurricane, like other hurricanes caused due to warm moisture and air from oceans that formed blizzard clouds and pushed around by strong winds. It started as a tropical depression, but in the next day it became the tropical storm. These winds produce a storm surge over the ocean whichRead MoreClimate Change Persuasive994 Words   |  4 Pageswhich makes the temperature of the earth rise. Climate change is extremely affecting Polar Bears and other animals close to extinction that crucially rely on sea ice. Another major climate change affect is Coral Bleaching, which it is caused by the ocean water temperature rising due to climate change. The greenhouse effect is a major cause of climate change. This is because the gases trapped in the atmosphere absorb radiation and send it back to earth making the temperature rise. The authors from â€Å"ClimateRead MoreLord Of The Flies And Animal Farm Essay1008 Words   |  5 Pagesand â€Å"Animal Farm (Gulbin 87), Jacks composed appearance reflects what society defines as a normal and accepted version of oneself. This can also be portrayed as him successfully projecting his inner emotions as also pure, but this cannot be the case because â€Å"evil is specific to humans and resides in the mind, and therefore society has created restrictions within social norms to conceal this savagery† (OHara 417). 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Mkt/421 †Marketing - Marketing Plan - 6792 Words

Marketing Plan Erik Wohler, Adnan Otovic, and Joshua Adamson MKT/421 – Marketing March 28, 2013 R. Scott Bluemel Marketing Plan: Phase I Overview of the Organization The entertainment industry is a vastly changing business, although the ideology has stayed the same throughout history. Since the earliest documented cases started appearing, stories and music were used to overcome and surpass dark times in cultures throughout the world. In more recent historical examples, during the great depression, the largest break through for the entertainment industry began to show by way of movies, musicals, radio and early television. Movies really began to dawn as a way to escape the realities of everyday life and live vicariously in a world†¦show more content†¦Description of New Product or Service The service that we are going to be bringing to the Regal Entertainment Group family is a brand new movie viewing experience. It will consist of a series of luxury theaters within the location and will give the consumer the option of having something more for their viewing pleasure. The first part of the new concept would include the theater having a restaurant and bar that would be attached to the premises and accessible prior to and after ones movie. A variety of food and beverages will be available to cater to many different palates and tastes. Being able to consume alcoholic beverages is something Regal Theaters have never had and would range from tap, bottled beers, wine, and cocktails. This added dimension will also flow into the movie viewing experience by having waiters that will serve to costumers while in their seats. A button can be pressed for service while in the theater and once the movie starts the service will no longer be available so not to disrupt the movie. 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Case Study of Pepper & Gore (2015) Samples for Students-Myassignment

Question: Discuss the Case Study of Pepper Gore (2015). Answer: Introduction The company is an artificial person thus its owners, and managerial authorities are different. Shareholders are owners, but operational activities and business decisions are managed by managers and directors (Hitz Mller-Bloch, 2015). Due to this aspect, it has to be ensured that managers are paid fairly so that interest of shareholders is not affected. The present study is focused on the description of factors to be considered for determination of executive compensation. For this aspect, the theoretical framework provided by various research scholars will be considered. Collected information will be applied for evaluation of given case of Commonwealth Bank of Australia regarding remuneration policy of Ian Narev for the financial year 2015. Determinants of executive compensation Business performance In the study of Pepper Gore (2015), it is clarified that bonus should be awarded to executives only if they are capable of accomplishing goals and objectives of business. In the case where the bonus was granted despite worst performance than their conflict in the interest of shareholders and top management. In research of Martin and et.al. (2013), this aspect was considered in bonus and salaries of executives of various top companies. By considering this fact, business performance plays a significant role in the determination of compensation of executives. In a situation where business is growing and developing, it is only because of viable decisions and effective strategic plans of top management thus they must be paid off for their hard work. Size In accordance with the viewpoint of Cremers Grinstein (2014) in perfectly competitive conditions of the managerial labour market, the executives earn on the basis of a marginal revenue product. However, at a minimum, he must earn that he could earn in their next-best employment opportunity. In research of the marginal revenue, product has been stated as incremental profit that they earn for the company with their management skills and capabilities. Further, the size of business, market conditions, their qualifications also needed to be considered in their compensation. In the case of large firms, a minor increase in profits per unit sold will results in a huge hike in profitability due to a sheer number of units sold. Consequently, in large firms compensation of executives, is higher in comparison to small firms. As per the study of Peters, Wagner (2014), the structural complexity of large firms also indicates for higher compensation for the executives. Political and regulatory factors Remuneration policy of executives must be designed in accordance with the legislative norms developed by current political parties and regulatory norms. As per the study of Gomez-Mejia and et. al. (2014), non-compliance of these norms can lead to severe penalty and non-qualification of directors. This approach has been developed due to the concept of duality. Bennett and et. al. (2017) had stated that duality escalates the power of the single individual, and reduces the ability of the board and restricts its decision-making power. As a consequence, there must be standard guidelines for a compensation policy of executives which is mandatory to be followed by corporate entities. Ownership factors Study of Chan (2008) shows that higher the stake of the executive in a business entity will result in an increase in incentive for effective management of business resources in order to obtain profitable opportunities. It is because; executives have to bear direct consequences of their decisions. Nevertheless, by considering the overall aspects of human endeavour, it can be said that there are huge differences in managerial skill over broad ranges of both type and quality. Further, these managerial traits are predictable to fluctuate on the cross-sectional basis as a consequence of a number of firms, industry, and manager-specific factors. In accordance with the viewpoint of Lin and Lu (2009), there is a negative association of executive ownership and their compensation. Thus, at the point of higher ownership concentration level controlling shareholders will shorten managerial power and in contrary to this in a low level of ownership concentration, there will be an increase in CEO co mpensation by associating it firms performance. Theoretical explanation for the increase in executive compensation Marginal productive theory As per the study of Peng and et. al. (2015), this theory is concerned with the determination of pay level of executives of corporate entities. In accordance with this theory, compensation paid to executive must in proportion to the profits and productive output of the company. Thus, growth in these factors should be considered as a significant parameter for an increase in the compensation of executives. According to the viewpoint of executive pay, package reflects the net profit of the firm. Agency theory Frydman Jenter (2010) stated that this theory is a theoretical extension of managerialism. According to this theory, owners of the firms are principals and executives are agents. Thus, agents should work in benefit of owners instead of their own interest. This theory states that agency cost for the owners of the firm is the difference the profit that could be earned by owners and profits earned under the stewardship of the agents. Thus, improvement in overall value and performance should be the base for an increase in compensation of the executives. Human capital theory As per this theory, individual characteristics of individuals must be considered for the prediction of their pay levels. Study of Bettis et. al. 2010 (2010) shows that amount of human capital attained by executives shows their value to firm on the basis of that prediction can be made that how much should it pay for their services. Thus increasing the value of human capital should be the base of increase in compensation of executives. Association between compensation and performance of business entity Various scholar agree with the direct connection between executive compensation and performance of business entity. Study of Franken (2010) shows that these two aspects are directly connected in the commercial era as executives will be motivated to work in the interest of the company as their pay is directly connected to the performance of the business and it will fluctuate accordingly. Performance criteria have been introduced for determination of compensation of executives to ensure that they will provide priority of interest of the company instead of their interest. According to research of Bettis et. al. (2010), this assoication develops executives with proven track records of constructing shareholder value with their management capabilities and skills. These individuals demand and receive outsized compensation levels in comparison to others doing the similar job as they have better potential to impact a future profitability and value of the firm. Discussion and Analysis Ethical issues associated with the compensation package of Ian By considering annual report of the company, it can be noticed that there are various issues associated with the compensation package of Ian. Primarily compensation provided to Ian Narev is excessive in comparison to the provision of services by applying the model of a deontological model (Annual report of Common Wealth Bank, 2015). It is because Ian Narev is a director since 2011 and only for the duration of five years there is a significant increase in pay. Moreover, annual increment in comparison to 2014 is high by considering growth and annual performance of the bank. It is because; there is consistency in share price which shows there is not a significant increase in stockholder value. This fact raises issues that on what basis Ian Narev is provided with the bonus and reward rights of worth 248,068 and increment of AUD75000. Another issue with a compensation package of Ian Narev is that he is receiving a significantly higher amount in comparison to other directors. He is managin g director so it is justified that he must attain higher pay but twice of other directors is the viable amount. Benefits and drawback of considering social performance criteria in compensation package of Ian It has been argued by various research scholars that viable combination of short and long-term incentives structure around social performance will provide various benefits to the company. As per the study of Gopalan and et. al. (2014), top managers are primarily responsible for resource allocation regarding social initiatives. As a consequence, if Ian Narev will be rewarded on the basis of then he will be motivated to promote a consistent social strategy for the company. This will increase the firm value and company will received market-based incentives. In addition to this, the company will be able to develop goodwill and strengthen their brand image to attain competitive advantages. The major drawback of considering social performance criteria in compensation package of Ian is a contradiction of interest of stakeholders as they will not be in favour of this fact. Drawback of considering social performance criteria in compensation package drawback of considering social performance c riteria in compensation package. It is because; all stakeholders are assumed to be have favourable responsible way and for the same they must be treated in a similar way. However, this is not viable in all cases as some constituencies may have general preference for social initiative but presumption cannot be made that social friendly policies will not contradict interest of shareholders. For example, employees and their families would not agree for environmental policies if it will put their employment at risk. As a consequence, rewarding actions that can benefit Ian can cause discontent among other stakeholders. Henceforth, it will be a partial policy which will not be justified in employment practices. Study of Pepper Gore (2017) shows that recognising and supporting social efforts through monetary pay will undermine the built in incentive which can have unintended consequences for business. Critical analysis of compensation package of Ian in solving agency conflicts With reference to accounting theory, compensation package of Ian is not solving agency conflicts it is because the package is not justified and it is needed to be modified. Accounting theory suggests that compensation package of executives should be increased if there is (1) reduced tax payments, (2) complimentary regulations, (3) reduction in political costs, (4) reduced in production costs, and (5) increase in reported earnings considered for evaluation of incentive bonus plans but none of these occurs in annual report of company. In accordance with the data of last financial year it can be noticed that total pay of Ian Nare (Commonwealth Bank chief) was $12.3 million, after he get ownership of multimillion-dollar share bonuses for the performance of bank in previous years. CBA's annual report shows that the total remuneration for Mr Narev has been enhanced by 50 per cent, from $8 million a year earlier. Reason of this hike is long term association. There were no changes in fixed r emuneration and there was slight reduction in the cash component of his short-term bonus. Nonetheless, the total value of his pay packet had a significant boost from share awards of worth $6.6 million. Long-term incentives of CBA have been linked to shareholder returns and customer satisfaction in ratio of 75.25 However, this proportion proposed to be changed in 50:50 near future. Further, management compensation plans encourage managers for the inflation of earnings, but the size of firm encourages managers for the deflation of earnings (Hitz Mller-Bloch, 2015). In the present case, sales have been improved, but there are not significant changes in shareholder value which is not justified as per accounting theories given on compensation of executives. It shows the need of change in compensation policies to motivate executives to showcase their skills and capabilities for the betterment of the business. conclusions In accordance with the present study, it can be concluded that there should fair remuneration system for company executives in order prevent conflicts of interest between shareholders and top management. For effective payment system, business performance, size as well as duality should be considered so that executives can be motivated to work for the betterment of the company. By considering the situation of given case study; compensation package of Ian Narev is not justified which is required to be modified to prevent company conflicts due to agency theory. References Books and Journals Bennett, B., Bettis, J. C., Gopalan, R., Milbourn, T. (2017). Compensation goals and firm performance. Journal of Financial Economics. Bettis et.al. (2010). Stock and performance grants with performance-based vesting provisions. 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