...and services for the global economy. 3)a) In 2002 the unemployment rates in Spain, France and Italy were significantly higher than in the UK. Examine the factors which might explain why the UK's unemployment rate was lower in these countries. b) To what extent might the pursuit of full employment conflict with other macroeconomic objectives? ------------------------------------------------- Exemplar: 1)a) 'The competitiveness of the Uk's manufacturing sector has declined in recent years'. Discuss the factors which may have affected the international competitiveness of UK goods. b) Evaluate the methods by which the UK's international competitiveness could be increased. 2)'Trading blocs are becoming increasingly important to the world economy' a) Discuss the benefits to a country belonging to a trading bloc. b) To what extent might the policies of the WTO conflict to those of trading blocs? ------------------------------------------------- June 02 1a) Examine the factors which have led to an increase in interdependence between countries in the world economy. b) Assess the impact on the global economy of the continued use by trading blocs of measures which restrict free trade. 2a) Examine the impact of falling oil prices on the economies of the European Union. b) Evaluate the potential costs and benefits to the UK economy of a decision to join the euro. 3a) Examine the factors which might explain how a surplus...
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...AuditQuality Agency theory and the role of audit The Audit Quality Forum comprises representatives of the audit profession, investors, business and regulators who have an interest in high quality and confidence in the independent audit. a Q AuditQuality a Q The Audit Quality Forum brings together representatives of auditors, investors, business and regulatory bodies. Its purpose is to encourage stakeholders to work together by promoting open and constructive dialogue in order to contribute to the work of government and regulators and by generating practical ideas for further enhancing confidence in the independent audit. The initial focus of the Forum was to improve audit transparency and support shareholder involvement in the audit process. At its meeting in May 2005 the Forum agreed to explore a broader agenda which will examine the relationships between shareholders, boards, auditors, regulators and other stakeholders in the audit. Anyone interested in providing feedback on this paper should send their comments to louise.maslen@icaew.co.uk. Further information on the Audit Quality Forum, the current work programme and how to get involved is available at www.icaew.co.uk/auditquality or contact 020 7920 8493. © December 2005 Institute of Chartered Accountants in England & Wales Dissemination of the contents of this paper is encouraged. Please give full acknowledgement of source when reproducing extracts in other published works. No responsibility for any person...
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...trying to define the concept, regardless of the wealth existing literature on the subject. WLB policies have been defined as ‘those that enhance the autonomy of workers in the process of coordinating and integrating work and non work aspects of their lives (Felstead et al, 2002). From an employees perspectives it is the maintenance of a balance between work and family responsibilities. This definition allows for a wide range of policies to be included under the guise of WLB initiatives. WLB policies in an organizational setting include, but are not limited to, flexible working arrangements, child and dependent care and family and parental leave (Bardoel, 1998). Importance Many Human Resource Professionals, employers associations, government departments, trade unions, academics and voluntary organizations around the world are currently debating and often enacting, policies and practices designed to promote work life balance (Fleetwood, S., 2007). The effective management of WLB is an issue increasingly recognized as of strategic importance to organizations and of significance to employees (Cieri, H., Holmes, B., Abbott, J., Pettit, T., 2005). In more recent years there has been an exponential growth in WLB practices (Chandra, V., 2012) due to globalization, organizational reorganization and efficiency drives, increasingly sophisticated technology responsible for bringing about 24/7 workplaces; blurring the distinction between work and home...
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...Explain the divisions that exist within the Conservative party over votes and policies. (10 marks) One of the most notable divisions that exists within the Conservative party today is over the European Union. Many Conservative MPs and party members do not like the UK’s involvement with the EU to the extent that they wish to remove the UK from it altogether, or at least decrease Britain’s involvement. The main arguments against staying in the EU include the high cost of membership and worries about the volume of immigration into the UK from EU countries, more recently Romania and Bulgaria. There are, however, a significant number of Conservative MPs who wish to stay within the EU, with arguments such as around 50% of our trade is within the EU, and the single market brings between £30bn and £90bn a year into the UK economy, which is far more than the cost of membership. These differing opinions within the party have caused splits and divisions within the party. Another division which has occurred within the Conservative party is the argument over gay marriage. There is a clear difference of opinion within the party as some believe that homosexual couples should have the same marriage rights as heterosexual couples, whilst some disagree. David Cameron, leader of the party, has publicly voiced his support for gay marriage, however many Conservative MPs, for example David Burrowes, disagree with his opinion. The clash within the party came as traditionalists (opposed to same sex...
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...The UK Public Services have an obligation to guarantee that they give a support of ALL segments of the group that is free from inclination and segregation, and gives meet access to the majority of their administrations. Illustrations of these administrations incorporate instruction and preparing, job, furthermore lodging the privilege to be shielded from crime. Notwithstanding fulfilling the necessities of the services, individuals in the UPS are required to deal with their own associations, and the work force inside of them. This incorporates showing that they are providing equal opportunities. As we have effectively found, the Metropolitan Police welcomes applications from an extensive variety of residents. Each Public Service needs to guarantee that their enrollment strategies don't victimize any part of society, and that all applications are managed decently; this reasonableness should likewise shape the premise of the professions that open administration work force accomplish. The Open administrations of the UK utilize an extensive variety of strategies to guarantee that their approaches and techniques offer workers and others the best chance of getting fairness in the administrations they give. The British Army considers that advancing balance and differing qualities will enhance its operational viability, trusting it adjusts the privileges of the person with the requirements of the whole group. A large portion of people in general administrations in the UK uniformed bodies...
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...European union and the Eurozone Yash Sohal This BBC article explains that under Tony Blair’s labour government, the toughest decision to be made was if the UK should join the European single currency. Many businesses owners are against the move to the euro. The article outlines three different aspects facing the euro debate, the first being the economy. It identifies that how the euro would affect the economy is a central debate. The article outlines the positive and negative effects the change to the euro would have on the UK economy. One positive outcome cold be large multi-nationals will invest in Britain if it eventually joins the euro. One negative outcome would be that the European central bank would find it very difficult to set the right interest rate after shocks the economy, such as the terrorist attacks of September 11th. The second aspect is political. It states that British politicians are hugely divided in the euro debate and this is creating tensions in the government. It states that the UK may be left out on important political decisions in the EU, especially when it expands to 25 members. The third aspect of the debate is sovereignty. The article states that if the UK decides to go with the euro it is loosing its sovereignty. The UK looses its right to control its own affairs. EU member states: 1 Austria 2 Belgium 3 Bulgaria 4 Croatia 4 Cyprus 5 Czech Republic 6 Denmark 7 Estonia 8 Finland 9 France 10 Germany 11...
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...Lecture 8: Legal and Regulatory Risks of International Business Regulatory Risks * Potential difficulty in compelling overseas counterparty to fulfil obligation under contract only one risk. * Even more serious risk: international business activities attracting criminal liability. Money Laundering * Few would defend open laundering of domestic crime * But historically, more relaxed approach taken to property derived from overseas crimes. The attitude has been taken: * “What happens in X, stays in X” * Definition of “criminal property” in UK extends to property derived from act committed abroad which would be a crime if it were committed in UK. * Proceeds of Crime Act 2002, s.340(2)(b) * Very limited “double criminality” rule – essentially it states that the Secretary of State may if she chooses put in a double criminality rule or may not. If it would attract a maximum prison sentence of 1 year or less then in order for the proceeds to be covered by the AML rules – it must also be a crime in the jurisdiction where it was committed. But if it’s more than a year- no double criminality. * US Federal laws definition of predicate offences for purpose of money laundering similarly extends “unlawful conduct” to include list of overseas crimes * 18 U.S.C. §1956 (§ - section) - up to 20 years * Definition applies also to wider “money spending” offence in §1957 – up to 10 years. * ML – with intent to disguise the origin, to facilitate...
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... Learning targets: • Different ethnic groups appear to have differing levels of achievement in school. Overall, the ethnicities of attainment are White, Chinese and Indian heritage students. • There has been concern about the achievement levels of certain Black minorities: in particular, African Caribbeans and Bangladeshi students under-attain in schools. • Sociologists have difficulty in measuring the impact of ethnicity on achievement because other factors may be involved. Poverty, class and cultural factors may all form part of reasons why some Black ethnic groups underperform. Key questions (AO1) What is ethnicity? (AO1) What patterns of attainment on the basis of ethnicity are there? (AO2) Is the education system institutionally racist? (AO2) What other social factors may influence ethnic attainment? Summary of key points Ethnicity is a word used in sociology to describe the culture that you belong to. Everyone has an ethnicity. For most people in Barry, this ethnicity or sense of belonging to a culture is Welsh. Some people have more than one ethnicity; they might be Welsh/Chinese or English/African. The majority ethnicity in Britain is white British. People who do not fit into that group are said to belong to an ethnic minority. There are many ethnicities in Britain. The majority of the UK population in 2001 was White (92 per cent). The remaining 4.6 million (or 7.9 per...
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...released Revised Code of Ethics applies to all professional accountants - whether you work in practice, in industry, in academe, or in government. It is effective from June 30, 2006. Accountancy Ireland asked ICAI member, Richard George, Chairman of the IFAC Ethics Committee to explain the background to the development of the revised code and to give our readers a brief overview of what it covers. Many Irish Chartered Accountants are probably only vaguely aware of the existence of IFAC - the International Federation of Accountants - as a global body that sets professional standards for the accountancy profession and of which their Institute is a member. A much smaller number would have any detailed knowledge of what these professional standards cover or of how they impact on local requirements as promulgated by their own Institute. This article is about ethical matters and the activities of the IFAC Ethics Committee. Besides ethics, IFAC Boards and Committees develop international standards on auditing and assurance (ISAs), on education and on public sector accounting. Each of the member bodies of IFAC - there are 163 currently from all parts of the globe - undertakes to use their best endeavours, subject to national laws and regulations, to implement the standards issued by IFAC in each of these fields. So, ICAI - and indeed, the other UK and Irish based accounting bodies that have members in Ireland - have obligations to promulgate IFAC standards and to monitor their members'...
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...interacts'(Peterson,2004). Respect for basic rights, human dignity and good citizenship are core human values(Donaldson 1996), understanding differing cultures present through our employees and foreign dignitaries will improve our relations with different cultural belief systems, and adorn more sophistication in our diplomacy. Globalization has dramatically increased foreign trade due to the falling trade barriers, easier emigration possibilities, improved transportation and technological revolutions. ‘Growing interconnections bought about by the globalization process require that both managers and organizations expand repertoires of roles’(Parker,2005). Hence effective communications with differing cultures is more important than ever(Tannen,1985). Culture is man-made part of the environment(Herkovits,1948),management must consider the relativity in such analysis, since absolute meanings cannot be derived due to the differing meanings of cultures explained either through the actor or observer. One may assume cultural idioms using models such as ‘Hofstede’s Cultural Dimensions’ or ‘Turner&Trompenaars Cultural Analysis’ but may create sophisticated stereotyping, by using such analyses as absolute truths(Osland&Bird,2000). Culturally intelligent person must acknowledge the differences between cultures, using them as a guideline to better understand differing product and organisation perceptions. One must distinguish the stereotype of...
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...trends of the area the business is in? Is there any particular type of trade in that area? Nationally, the supply of labour is dependent on trends in unemployment and the types of skills that are needed by employers. What is the effect of Britain's membership of the EU? Labour costs - The cost of labour, as a percentage of the other costs within a business, will depend on whether the business is capital or labour intensive, as well as the extent to which the skills needed by that organisation are available and accessible. In the UK, labour costs are also governed by the national minimum wage. Workforce skills - Using published national statistics, organisations can see the types of skills that are available in their local area or region. Businesses need to consider their future needs and those of their competitors in order to make sure they attract the right people - this may mean extra incentives being offered. Government policy - Government policy and changes to education policies can lead to gaps in skills, or gaps in skills being addressed. Labour market competition - As a business plans its workforce needs for the future, so do other businesses within the same industry. There may not be enough skilled employees for each business, so you may need to offer more money to attract the right staff, however, you need to manage your funds well to make a profit. Changing nature of work - 'A job for life' used to be a standard idea in the workplace, but now employees...
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...How and why do the major political parties differ over politics and ideas? The major political parties in the UK are Conservative and Labour. They show their different ideas and polices at election time. They show out their differences to voters in order to make them aware of how society would differed if their ideas are accepted and then their policies are put into place when one of them comes to power. Conservative party had a clear run up in the elections and difference over economic policy than Labour. They wished to make cuts in public expenditure and took off an immediate £6 billion in public spending. They cut deeper and faster than Labour would have achieved. Similar in taxation policy it is a Conservative idea to reduce taxes in order that people can retain as much of their income as possible. To achieve this national insurance was cut and also corporation tax. These policy ideas replicate Conservative thinking that the role and scope of the state has to be reduced. David Cameron was keen to extol the idea of the ‘big society’ meaning that the role and scope of the state will be reduced and in his place individuals, groups and voluntary organizations will replace and fill the void. This can be seen to have links with ideas from one-nation and Thatcherite factions. By encouraging individuals and organizations it can be seen as integrating society and developing paternalist views meaning to cover up what are essentially Thatcherite moves to cut the state. It is contrast...
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...countries like US, Germany with international competitive organisational capabilities. From US’s case, managerial enterprise has contributed to the success of leading economics; however, only to a small extent it can be applied in differing national circumstances. There are enormous lacks in Chandler’s analyse. Moreover, different countries have different situation and management characteristics. Managerial enterprises can be applied successfully in US, but it probably can’t be applied successful in nations with different circumstances. In this essay, Chandler’s (1990) study on managerial enterprise will be introduced, and also critically analysed by considering the enterprises and industries in UK, US, Germany and Japan. Firstly, this essay is going to introduce Chandler’s framework of analyse on managerial enterprise, and present how it contribute to German and US’s economic success by referring cases in different industries. This is followed by discussions on the weakness of Chandler’s analysis by referring to other authors’ view, so as to show to what extent managerial enterprises can be applied in corporations worldwide. In Chandler’s (1990) book scale and scope, he has analysed the largest 200 firms in manufacturing industry from each of the countries: UK, US and Germany, in order to prove that managerial enterprise has contributed to the firms’ economic success. Managerial enterprise has been defined...
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...Explain how people can manage the environmental and social costs of globalisation for a better world (15marks) Suggest why the various groups shown hold differing views about this global trade. (10marks) The first view of UK customers being generally happy but some businesses and workers are less pleased, this is because customers are getting what they want easily and relatively cheaply in local shops and supermarkets. In contrast, businesses e.g. Trans-national corporations are having the adverse effect of losing customers as products are sold cheaper and are more accessible elsewhere. In result of this, many workers are losing their jobs and becoming unemployed which is devastating to many families. Next, millions of Chinese people and their government support this venture, this is because it brings money and investment into the area which can be used to develop and improve infrastructure, facilities and attractions. Furthermore, more jobs will be made so it is beneficial to the people living near the factories that manufacture the goods etc. Thirdly, Maersk shipping lines has offices in 150 countries, and 500 large container ships is a positive view as it will create millions of jobs making the financial state for many families and the overall economy stronger. Also, due to the connection between different countries and the vast size of the company suggests there would be profit which could be used for development and growth of the area, increased wages of employees and...
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...How has Coalition Government affected Party Politics in the U.K? The arrival of a coalition government formed between the Liberal Democrats and the Conservative Party in 2010 has affected UK party politics in various ways, the nature of which is looked into below. The governing of a country by a coalition of two political parties with differing political stances will involve negotiation between and some degree of compromise on behalf of the two parties. This is necessary in order to come to some form of agreement on key policies, such as those affecting the economy, unemployment, crime, environmental concerns, welfare, law and order and education, amongst other policy areas. The agreements reached are also, to a certain degree, in a balance of compliance with key political beliefs or philosophies of both the Conservatives and the Liberal Democrats in terms of their respective guiding principles on areas such as social justice, the appropriate degree of state intervention and the importance of equality and availability of opportunity within society. The rise to power of a coalition government has made Consensus politics a key feature of UK party politics, since the nature of a coalition involves broad agreement on most basic policies between the two major political parties forming the coalition; the Conservatives and the Liberal Democrats. The ability and will to negotiate and agree is of key importance if a coalition is to be able to govern effectively, in an organised...
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