...The interaction between the different business sectors in the UK and the impact of external factors on business. The business sectors of the United Kingdom (UK) is categorised into 3 major sectors namely Primary, Secondary and Tertiary sectors. The Primary sector are the organisations that are involved in the use of natural resources through extraction, growing and collection of raw materials such as mining, quarrying, fishing and exploration. An example of a primary sector business is Shell UK who focuses on exploring new global oil and gas reserves. While the Secondary sector is also known as the manufacturing sector, these organisations are involved in processing, production or refining of the raw materials from the primary sector into finished goods, this sector creates a finished , useable product like car manufacturers, textile manufacturers, oil refineries Jaguar etc. an example of a business in this sector in the UK is Kellogg’s. And tertiary sector are organisations involved in providing services to people either to direct customers or other businesses which may be public or private sector, such as education, health, hospitality, leisure and financial institutions example of a business in this sector is Barclays bank. In every business sector there are stakeholders. Stakeholders of any business are any one that has an interest in the activities of the business. The key stakeholders in the business sectors of the UK are the Government, Local community, suppliers...
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...INTERVIEWS Contents Interview No. 1 3 Interview No. 2 5 Interview No. 3 7 Interview No. 1 Name: Paul Erickson Position: Internal Auditor Company: American Eagle Outfitters, Inc. Job Description: * Improving and communicating new objectives to the staff at different levels. * Controlling and monitoring the working of numerous softwares like ERP, Microsoft excel etc. * Determining the potential risks and providing risk management framework. * Increasing efficiency in operational activities Sr. No | Helpful | Not So Helpful | What do you do to handle the not so helpful | 1 | It took my team around two-weeks every six months to perform the auditing of in-house operations as well as suppliers. Using SAP and ERP reduced this time to 1 week annually. | It took 3 training sessions and plenty of mistakes before my team of 3 people became well-versed with using this integrated software. | As an auditor I have to give more attention to the risk to which the company is exposed to due implementation of ERP system. As every department experience changes right from accounting and technological issues and information integrity because of the SAP ERP implementation. | 2 | Since the implementation of ERP system I and my team observed that ERP gave boost to the quality of internal control system and auditing in the organization. As the ERP system brings together the financial and operational data in a form of complex information. Through this...
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...The recent monetary policy of Bangladesh BANK The central bank declared its half-yearly monetary policy aiming to contain inflationary pressures through discouraging credit flow to unproductive sectors and for speculative purposes including real estates and investments in stock market beyond affordable limits. While releasing the monetary policy statement (MPS) for July-December period of the current fiscal year, The governor of the central bank said that the monetary policies in fiscal year 2011-12 will need to continue in the restraining stance on credit growth as pursued in fiscal year 2011. He also told that the policies, as before, will selectively bear down on growth of credit for wasteful, unproductive and speculative uses while ensuring adequate credit flows for all productive pursuits in manufacturing, agriculture, trade and other service sector. Under the new monetary programme, domestic credit growth will come down to 20 per cent in June 2012 from an estimated 27 per cent in June this fiscal while credit growth to the private sector will be brought down to 18 per cent next fiscal from an estimated level of 25.5 per cent in the current one. Explaining what the central bank would consider lending for speculative purposes in particular, BB Senior Consultant Mr. Allah Malek Kazemi said credit flows for purchases of land and apartments (flats), investments in shares beyond affordable levels and many other areas where bubble-and-bust situations prevail will...
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...Introduction: Business environment is composed of two words ‘Business’ and ‘Environment’. In economic sense ‘Business’ means human activities like production, purchase or extraction or sales of products or services that are performed to earn money. Meanwhile ‘Environment’ means the aspect of surroundings. Business environment is the set of conditions institutional, political, economical, legal or social that is uncontrollable and affects the functions of the organization. Business environment consists of two components: external environment and internal environment. Internal environment includes of 5 M’s like management, money, machinery, material and man. On the other hand, External environment consists of demo-graphical factors, socio-cultural factors, political factors, geo-physical factors, government and legal factors. 5. Understand the organizational purpose of business 1.1 Identify the purpose of different types of organizations There are different types of organizations and mainly all kinds of organizations are divided in three sectors: public sectors, private sectors and voluntary sector organizations. The purposes of those organizations are not same. Public sector is owned and run by the government for the people. People pay taxes to the government and this money is used to finance most of the public sectors. The main purposes of public sectors organizations are to provide essential public services and to use resources well for the benefit of the community...
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...grown from a single market stall to become an international multi-channel retailer. (M&S, 2013) Marks and Spencer is a major British retailer which was founded in 1884 and operates 766 owned and franchised stores in the United Kingdom; and 418 owned and franchised stores in 51 territories in Europe, the Middle East, North Africa, and Asia. Type of business M&S is an international business because it is located in various other countries with the United Kingdom and 418 owned and franchised stores in 51 territories in Europe, the Middle East, North Africa, and Asia. M&S is in the private sector organisation because it is part of the national economy made up of private enterprises. It includes the personal sector (households) and corporate sector (companies), and is responsible for allocating most of the resources within an economy. See also public sector (business dictionary, 2013) M&s is a large size business because there are more than 250 employees, M&S has up to 82,000 employees and the majority of the people are in the UK. M&s is in the tertiary sector because they are providing services to individuals and business an example of the type of service M&S would provide is they could provide fresh lingerie this would include: • Transporting the lingerie • Selling the lingerie in the stores • Advertising the lingerie (they could use manikins to advertise) (John Bevan et al 2010) Purpose M&S is main purpose is to make as much profit as possible, and to make sure...
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...Tamil Nadu National law School PRIVATE SECTOR IN INDIA: BOON OR BANE SUBMITTED IN THE PARTIAL FULFILLMENT OF B.A.L.L.B (Hons.), THIRD SEMESTER Submitted to: Submitted by- Mr.Yuvraj Akash Gupta BA0130005 SUPERVISOR’S CERTIFICATE This is to certify that the Project Report entitled: ‘PRIVATE SECTOR IN INDIA: BOON OR BANE’ submitted to the Tamil Nadu National Law School in partial fulfilment of the requirements for B.A. LL.B (Hons.), third semester is an original and bona-fide research work carried out by Akash Gupta under my supervision and guidance. No part of this study has been submitted to any University for the award of any Degree or Diploma whatsoever. ______________________ (Mr.Yuvraj) ------------------------------------------------- Preface This project is intended to carry out an extensive research on the topic “PRIVATE SECTOR IN INDIA: BOON OR BANE” by the supervisor. The research and analysis conducted by the researchers are bona-fide and purely for academic purposes. Every effort is made to keep the project error free. We would gratefully acknowledge the suggestions to improve the project to make it more useful. ACKNOWLEDGEMENTS ...
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...ABE Level 5 Diploma Unit Title: The Business Environment Learning Outcome: 1. Understand the significance of the environment on business activity. Please note that the content of this Lecture Guide is listed in its recommended teaching order, rather than in numerical order. Indicative Content: 1.1.1 Explain the business organisation as a transformation process: • Business organisations undergo a transformation process from inputs into outputs, using physical inputs plus finance and skills to produce both goods and services. • Use examples from both manufacturing and service sector organisations to illustrate the process. 1.1.2 Describe the different ways in which a business may structure its activities: • Organisational structures can be based on the functions of the organisation, its product ranges, or geographical regions. Alternatively some less hierarchical organisations may use a matrix structure, especially if the firm is project based. 1.2.1 Discuss the complexity, volatility and uniqueness of an organisation's environment: • The organisation in its environment has to face a wide range of internal and external influences which affect business activity. • The immediate or operational environment interacts with suppliers, competitors, the labour market and financial institutions. • The general or contextual environment consists of economic, political, legal, and social factors. Each functional area of the organisation may be affected. • Whilst organisations have some...
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...Tamnun E Mursalin "Digital Bangladesh" is currently the most commonly used words in politics, media, among the intellectuals and the civil societies. Since our Prime Minister Sheikh Hasina in her party's election manifesto pledged to develop a digital Bangladesh by 2021, it has given a great hope to the citizens of Bangladesh. It turned out to be an opportunity for our prime minister to be in the United States during the time of election, and experiencing the Obama election campaign. Her learning has helped Awami League wining the election in Bangladesh in 2008 with Obama-like campaign strategy-the call for 'change', which has been responded widely by the Bangladeshi citizens. However, the focus here is Digital Bangladesh, widely accepted by Bangladeshi people from all walks of life. Not too many people understood the concept of digital Bangladesh but they believed it, as something related to information technology. It has been widely accepted by a good number of young voters, believing that the concept of Digital Bangladesh will solve most of our national crisis involving corruption, unemployment, illiteracy, poverty and price-hike. Even though without knowing Bangladesh has already gone through a bit of experience on digitization through few national level of ICT projects, such as, Chittagong Customs Automation System, selection process of teletalk mobile user through internet, project initiated by the pervious government on machine-readable digital passport system and finally...
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...Company’s business and economics research arm. MGI’s mission is to help leaders in the commercial, public, and social sectors develop a deeper understanding of the evolution of the global economy and to provide a fact base that contributes to decision making on critical management and policy issues. MGI research combines two disciplines: economics and management. Economists often have limited access to the practical problems facing senior managers, while senior managers often lack the time and incentive to look beyond their own industry to the larger issues of the global economy. By integrating these perspectives, MGI is able to gain insights into the microeconomic underpinnings of the long-term macroeconomic trends affecting business strategy and policy making. For nearly two decades, MGI has utilized this “micro-to-macro” approach in research covering more than 20 countries and 30 industry sectors. MGI’s current research agenda focuses on three broad areas: productivity, competitiveness, and growth; the evolution of global financial markets; and the economic impact of technology. Recent research has examined a program of reform to bolster growth and renewal in Europe and the United States through accelerated productivity growth; Africa’s economic potential; debt and deleveraging and the end of cheap capital; the impact of multinational companies on the US economy; technology-enabled business trends; urbanization in India and China; and the competitiveness of sectors and industrial...
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...unlawful decision or action, or not making legitimate decisions or actions. “Corruption has many faces. It may be in the form of money or of providing services in order to gain advantages such as favourable treatment, special protection, extra services, or reduced delays”. (NHO) Problem with this definition is that it is not appropriate for all cultures and societies, for example, those where there is no difference between private and public sector. Also, what is considered as corruption in one society may not be so in another society. Nevertheless, in every society it can be actions that are condemned for cultural reasons, and expectations that are imposed on perpetrators of public functions. Ambiguity is the fact that the phenomenon of corruption has been seen mainly in public sector. Such an understanding of corruption is limited for two reasons. First, the "offer" of corruption, as usually occurs in the private sector, for example, if the bribe-taker is a private enterprise. Second, corruption can thrive well in the private or third sector, in the latter, such as obtaining government benefits or the benefits of the European Union. Such a case where an employee responsible for negotiating the purchase of raw material without the consent of the Board or the owner with the...
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...CHAPTER 1 EXECUTIVE SUMMARY Executive-Summary: For several years now, 'employee engagement' has been a hot topic in corporate circles. It's a buzz phrase that has captured the attention of workplace observers and HR managers, as well as the executive suite. And it's a topic that employers and employees alike think they understand, yet can't articulate very easily. employee engagement as "a heightened emotional connection that an employee feels for his or her organization, that influences him or her to exert greater discretionary effort to his or her work". There are certain potential drivers, which are best suited to define the status of employee engagement, have been taken out of a pool of drivers suggested by various authors: 1 | Belief in Co’s direction | 15 | Leadership | 2 | Benefits | 16 | Organization Development | 3 | Career opportunities | 17 | Pay | 4 | Chief Executive Officer | 18 | Performance Review | 5 | Communication | 19 | Personal Growth | 6 | Company’s Values | 20 | Purpose in Life | 7 | Decision Making | 21 | Recognition | 8 | Direct Supervisor | 22 | Social Contribution | 9 | Environmental Mastery | 23 | Social Integration | 10 | Focused Work | 24 | Senior Managers | 11 | Human Resource Mgt. | 25 | Training & Development | 12 | Individual’s Own Values | 26 | Trust | 13 | Interpersonal Support | 27 | Work Group | 14 | Job Content | 28 | Work-Life Balance | Perrin‟s Global Workforce Study (2005)...
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...Managing Change Initiatives: Fantasy or Reality? The Case of Public Sector Organisations Ebrahim Soltani University of Kent Business School, Canterbury, UK Pei-chun Lai University of Strathclyde Business School, Glasgow, UK Abstract It is becoming a commonplace statement that change initiative programmes are key tools to organisational long-term success. To this end, the last two decades have witnessed a surge of interest in the take-up of various change initiative programmes. Organisational change initiatives, we are told by many commentators, can maximise shareholder value (i.e. economic value theory) and develop organisational capabilities (i.e. organisational capability theory). Specifically, in recent years, as companies have been confronted by the conditions of heightened competition, globalisation, advancements in communications and information technologies, economic recession and simultaneously search for excellence, so the desire to take up change initiatives has interested the majority of leading organisations. At the same time, however, the analysis of the prospects for the majority of change management tools reveals so many deep-seated barriers to change with the consequence of little success in practice. This paper explores this apparent contradiction, arguing that, despite a heightened interest in the take-up of change initiatives, very few change programmes produce an improvement in bottom-line, exceed the company’s cost of capital, or even improve service...
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...PUBLIC SECTOR ACCOUNTING AND FINANCE 1.0. Introduction: One of the main distinguishing factors between public and private sector organisations lies in their objectives and sometimes funding structure. While public sector bodies have a more social objective and focus more on the allocation or distribution of public goods and services within the country, private sector bodies have the main objective of increasing the wealth of their shareholders (IFAC, 2011). However, both private and public sector bodies face similar operational and business challenges brought on by the economic environment and climate. A crucial question therefore is how to account for the activities of private sector bodies and public sector bodies in a way that reflects the operational structure of the organisation and yet their varying objectives (Barton, 2000). There exist two main schools of thought on the nature of accounting in the public sector, each of which is formulated by the view of the role of the public sector within the economy (Evans, 1995). The traditional method of accounting within public sector organisations has often advocated the use of the cash basis of accounting, with larger emphasis rather placed on compliance with the rules and regulations governing the sector (Wynne, 2003). However, weaknesses in public sector management have brought to the fore the importance of efficiency and hence the adoption of the accrual method of accounting within the public sector. According to...
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...Economy, Efficiency and Effectiveness Name Institutional Affiliation Government agencies are commissions appointed and granted powers and authority to oversee specific functions such as Bureau of economic analysis. Bureau of economic analysis provides economic statistics and its main function is to give a clear understanding of the economic status of the US by giving an accurate and relevant data. Cochran, J. (2013). A state agency may be of either national or state government. Performance measurement is basically managing production rate and its primary purpose is to reduce or get rid of total variation in the production process. The main purpose of measuring performance, is to help get to a better decisions. Performances generally tell us important aspects about products, services, and the processes of how they are produced. They are a helpful tool to understanding, manage, and improve what organizations do. Performance can also be measured in order to recognize the sum total of quality management. Jacob, I. (2011). Persons charged with the management of an organization have to implement change in the organization. Before implementing change in an organization, the manager has to know how and when to introduce the change, he or she has to freeze and unfreeze the change process in order to avoid resistance from the workers. The management team has to have appropriate information and knowledge to measure the performance of the institution. Currently there is no known standard...
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...Small sector coopetitive potential and big corporate coopetitive potential contribute to the conditions generating unstable relations with cooperation elements dominating (square 4). Small sector coopetitive potential indicates a minor significance of coopetitive relations for the corporate growth strategies. Companies are not directly threatened by the situation in the sector and may admit that the self-reliant management is beneficial to them. That is why their coopetition inclination is not big. While a large compatibility of competitors may appear to be an insufficient condition to develop competitive cooperation. The presented coopetition matrix and structure of its variables provide us with a basis for research into coopetitive relation characteristics in the sector and the corporate context. The matrix shows the essence of complexity of coopetition as well as its dynamic character. The model may become an important instrument to examine coopetitive relations serving a thorough analysis of the factors influencing the creation and development of corporate competitive cooperation. At the same time, it may support the process of planning and control of corporate coopetition effects. The original coopetition model is dynamic. It enables a coopetitive relations analysis on account of time changes in sector coopetitive potential and coopetitive potential of the involved parties. The research on corporate coopetition enables its evaluation from the dynamic perspective, the indication...
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