...Europe’s Enron: Royal Ahold, N.V. 1. As shown in Exhibit 3, Royal Ahold decided to fully consolidate the company’s financial data into their financial statements. The problem was that they only held 50 percent ownership in these companies. Under Dutch GAAP, they were only supposed to consolidate the amounts equivalent to their ownership in those companies. They were able to include the entire amount of their partnership companies by persuading their auditors to allow them to do so. Instead of using the fully consolidated figures, Royal Ahold should have taken half of what they originally included. By incorporating these new figures using US GAAP, Royal Ahold’s net income decreases drastically. In 2001, net income drops from 1,113,521,000 Euros to 119,808,000 Euros, and in 2000, from 1,115,991,000 Euros down to 793,609,000 Euros. Royal Ahold, would have lost millions of dollars no whether it decided to use Dutch or US based GAAP. They chose to follow neither countries accounting rules when creating their financials. Although they succeeded for the time being, they were eventually caught, and much work has been done to try to turn around their tarnished reputation. 2. Earnings quality refers to the overall reasonableness of reported earnings. It is an assessment criterion for how repeatable, controllable and bankable a firm's earnings are. It recognizes the fact that the economic impact of a given transaction will vary across firms as a function of their...
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...Business Ethics Assignment Cover Page Title: | Ahold case | Assignment Number: | Group assignment #1 | Week Number: | 3 | Date: | 28.11.12 | Group Number & Class | | Student number | Name Group member | Contribution in Percentage to the assignment: (total of 100%) | Mark (by lecturer) | 1626680 | Shcherbakova Ekaterina | 25 | | 1624172 | Papashenko Andrey | 25 | | 1624018 | Ekaterina Petrenko | 25 | | | | | | | | | | Marking | | | Presentation | Grammar, visuals, structure | | Research | Sources, verification, attachments | | Opinion | Personal point of view, group attitude towards the case | | Theory | Literature, theoretical references | | Discussion | Different perspectives, alternatives, advice or solutions | | Total: | | | 1) Ahold N.V. started in 1887 as a small family business that further became a management-control firm with aggressive growth goals. The CEO, Pierre Everaert, launched the aggressive acquisition strategy that actually accelerated the corruptive situation. When in the 2003 the first announcement of accounting irregularities appeared, it disclosed the frauds of previous years. That made a hint to so many lawsuits and litigations that even after establishing “Road to Recovery” strategy, company remains to be not trust worthy. The most important ethical issue that can be seen during the whole processes of litigations, that no one connected with irregular accounting admitted his...
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...12/18/2015 12/18/2015 Project International Business IBMS-1 Final Report Project International Business IBMS-1 Final Report Ahnaíssa Christiaans Esmay Zoontjes Jost Pannhausen Thomas Kodden Ahnaíssa Christiaans Esmay Zoontjes Jost Pannhausen Thomas Kodden || Project International Business IBMS-1 || Final Report Ahnaíssa Christiaans Esmay Zoontjes Jost Pannhausen Thomas Kodden Magdalena Sztych - de Vries Saxion University of Applied Sciences Enschede, The Netherlands 18 December 2015 Preface This assignment is written by four first year students of the IBMS course at Saxion Enschede. This final assignment will cover the overall recommendations and evaluation for the export plan of Albert Heijn supermarket stores to Austria. For this assessment we have overviewed the internal analysis and external analysis, the external analysis being the macro environment and meso environment. There was also the SWOT analysis with the confrontation-matrix. This all has been used to conclude the entry strategy and introduction plan. Ahnaíssa Christiaans, Esmay Zoontjes, Jost Pannhausen & Thomas Kodden December, 2015 Table of Contents Preface 1 ...
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...MBA 623 United States Marine Corps The organization we chose for our project is the United States Marine Corps. We believe this branch of service can benefit greatly with the help of organizational behavior concepts. We will mainly be focusing on the relationship between the recruiter and the poolee (person soon to be enlisting). The process of enlisting can be long and tedious and there are a lot of details that should not be overlooked. When a civilian enters the recruiter’s office and they both meet for the first time, it is one of the most important moments. This is where the civilian feels out the recruiter and the recruiter feels out the civilian and shapes the psychological contract. When the psychological contract is beginning to form in this case it is important for both parties to gain each other’s trust in order for the relationship to flourish. Most recruiters are very truthful and will not violate the contract, but a lot of the recruiters just want to get that extra number to ship out. The recruiter will say and offer things to the poolees that are false and misleading. This process can also work the other way also; the poolee could be lying to the recruiter and mislead him as well. Some other problems that exist are cultural issues, such as, language and non-verbal gestures. It is important for both parties to be relaxed and ask questions. During the initial interview and throughout the process it is important for both parties to utilize active listening...
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...Types of Expedition Assignment 1 Our public services and the general public undertake a wide variety of expeditions for a wide variety of reasons. Now you have watched videos of two different types of expedition discuss these expeditions in your groups, compile your opinions and explain them, on the following points. Expedition 1 Name of the expedition: Royal Marines polar quest. * Royal Marine’s polar quest. This expedition is a great example of team effort within a military expedition. The Royal Marines and Navy planned and achieved a 2600Km ski and kiting trek to the South Pole and also a return journey; this took place in November of 2006. The services planned this expedition to break the following records, to be the first public service to reach the South Pole since Captain Robert Scott 1912. Also to be the first British military expedition that includes a return journey to the South Pole and to be the first. Marines to achieve their goals unaided by any other personnel; the military explorers successfully completed the expedition by January 2007 making it the longest in the distance of 2600Km British expedition on record. * The Area of the expedition (location; is it local, regional, national or international) The area off the expedition was in the South Pole. This would be international. * Aims of the expedition (Team building, military, science, exploration, personal development, competition, educational or commercial). The aim off the expedition...
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..."Never Let a Quiet Watch at Sea Lull You into a False Sense of Security" A little background on what it means to exercise command at sea: "Only a seaman realizes to what great extent an entire ship reflects the personality and ability of one individual, her Commanding Officer. To a landsman, this is not understandable, and sometimes it is even difficult for us to comprehend--but it is so! A ship is a different world in herself, and in consideration of the protracted and distant operations of the fleet units, the Navy must place great power, responsibility and trust in the hands of those leaders chosen for command. In each ship there is one man who, in the hour of emergency or peril at sea, can turn to no other man. There is one who alone is ultimately responsible for the safe navigation, engineering performance, accurate gunfiring, and morale of his ship. He is the Commanding Officer. He is the ship! This is the most difficult and demanding assignment in the Navy. There is not an instant during his tour as Commanding Officer that he can escape the grasp of command responsibility. This is a duty which most richly deserves the highest time-honored title of the seafaring world--'CAPTAIN.'" Captain Joseph Conrad Our Case Study: The weather would be turning bad overnight, but late on a sunny afternoon in gentle seas, the Commanding Officer (the CO) had a fresh cup of coffee in hand and enjoyed what little was left of the day in his designated chair on the bridge. It was an...
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...Managerial Leadership Case Analysis: British Airways (“BA”) Task 1 – BA SWOT analysis for the past (2003) Strengths | Weaknesses | CEO leadership | Low staff morale | Business class | Company image | Frequent flyer program | High debt | Cash liquidity | Lack of staff training programs | Innovation | Hierarchical management | Opportunities | Threats | Expansion into Middle East | Increase of aviation fuel prices | Alliance with other airlines | War in Iraq | Develop the workforce | Increase of debt interest rates | Improve customer satisfaction | Union strikes | Task 2- BA SWOT analysis for the present (2011) Strengths | Weaknesses | CEO leadership | Company image | First and business class | Hierarchical management | Frequent flyer program | Use of liquidity for new fleet | Innovation | | Grouped resources (IAG) | | Opportunities | Threats | Alliance with other airlines | Increase of aviation fuel prices | Expansion into growth markets | War in Iraq | Develop the work force | North Africa & Middle East uprising | Improve customer satisfaction | Union strikes | | Weather conditions (ash cloud & snow) | Task 3 – Comparison of past and present situation of British Airways Strengths The ex-CEO, Eddington and present CEO Willie Walsh, are both highly experienced in the aviation industry but quite different in their leadership style. For example Eddington is seen as a theory Y leader, fostering potential...
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...In the United States Marine Corps, there are those whom lead and those whom manage. The true test of a Non Commissioned Officer is if they can do both. Management as defined by Merriam-Webster online dictionary as “the act or art of managing: the conducting or supervising of something (as a business)” (Merriam-Webster, Janu). From the same source is three definitions of leadership “1: the office or position of a leader, 2: capacity to lead, 3: the act or an instance of leading” (Merriam-Webster, Janu). The topics that will be covered are the difference in a leader and manager, leaders and managers ability to create and maintain a healthy organizational culture, and the leadership approach of Power-Influence. The environment of the Marine Corps is a sink or swim kind of organization that forces you to perform. When you first reach the ranks of a Non Commissioned Officer, you are given “floaties” to help you through your transition from being a worker bee to being a manager or leader. However the rule of thumb is within thirty days you are weaned from your “floaties” and expected to excel (swim) or become a wall flower (sink) and leave the Marine Corps in time. Most Non Commissioned Officers do excel, and learn through time and experience how to lead and manage. Many Marines that I have talked to have had Subordinate Marines test them to see if the Non Commissioned Officer will stick to their guns, once the subordinate Marines see that you are a force not to be tested the...
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...Raymon Hadder Composition I Darrell A. Johnson “Joining the Marines “ Before I joined the Marine Corps I was a quiet kid. I never was an averages kid; nor was I into being away from my family and friends. Joining the Marines was the best decision I ever made. Travel was never in dreams, but once I got a taste of foreign soil I could not get enough. I remember the day I was shipped off like it was yesterday. It was a cold Monday morning in September. I had just got home from a family dinner and my recruiter was coming to pick me up at 6pm. My mom and brothers looked so sad; but happy at the same time. I was wondering if they would miss me and at the time didn’t know if I would ever see them again. At that point I knew that I was growing up. I had never been away from my mother and this was a step that could only be made by me. So I took responsibility; grabbed by bags; and heading off to boot camp. No one actually knew what a head was for me, but once I got there, I showed what It meant to me. Exercising every day and eating foods that I have never tasted before was a huge difference in this transition of being a Marine. Learning to shoot rifles from 500 yards and climbing tress the size of 20 story building was also a cultural shock. Being yelled at and having to care and protect others became second nature as well as discipline and loyalty. The day I graduated from boot camp was the day I became a man. The clarity of what it is to be responsible and accountable...
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...Captain Morgan The question is not if Captain Morgan will be remembered, but how he will be remembered. I never got to meet the man, just hear the legend of him from my great grandfather who was just a child when Captain Morgan passed away. He heard all of the tales Captain Morgan embarked on from his grandfather, who was one of his closest friends. There are few unaware of Captain Morgan’s escapades on the island of Jamaica, but there are none that know his life quite like I, Andrew Modyford, do. Unfortunately, most just remember the man that was described as a blood thirty, ruthless pirate in the biography by Alexandre Exquemelin. Morgan was many things, but he was not blood thirsty. As a devout Anglican, murdering and raping was not something he felt was appropriate. There were of course rumors of such behavior, but such fabrication is expected to increase the novelty of his already famous persona. Morgan was in fact a kind hearted, spiritual man that few took the time to know. All who came across him wished only to hear of his stories and admire his success, not discover who the man was. Morgan is most remembered for his victory in Panama in which he led over 2000 pirates on 36 ships across the treacherous oceans to Panama. Conquering the waters was nothing new for Morgan, but the 16 miles of jungle he marched through to defeat the 2000 waiting Spaniards was something of a new experience, a challenge he revered. This momentous event overshadows some of the...
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...Homework Week 1 Misunderstanding #1 Last weekend my wife and I threw my father his 76 Birthday party at our home while family and friends attended. When my younger sister and her family arrived, my wife greeted her by saying “hello stranger”, which is a proper greeting when two people haven’t seen each other in awhile. My sister received this greeting as a disrespectful greeting and stated to my wife she was offended and if you can’t greet me as “hello Gloria” do not greet me at all. a. Who was the sender? (My Wife) b. Who was the receiver? (My Sister) c. What was the message? A simple greeting d. What channel was used to send the message? Face to Face Communication e. What was the misunderstanding that occurred? A simple greeting was misinterpret as a personal attack. How could the misunderstanding been avoided. a. By not inviting here b. By not greeting her at all c. By greeting her by her name. Misunderstanding #2 Once I retired from the Marine Corps a year later I went back to work for a defense contractor as an instructor for the Marine Corps. During my time as a Marine the term “WM” stands for Woman Marines. I was not aware that terms was no longer used to refer to woman Marines. During my introduction I let the class know where the “WM’s” and the male marines restroom was. After the first class a female marine approach me to let me know that the term “WM’s” was no longer appropriate to refer to female Marines...
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...Command And Control In Public Services Command and control is used within all public services in order to carry out tasks/operations in an effective, efficient and proper manner. Without command and control, the public services would not function properly and the employees within those public services would not be able to carry out their roles and responsibilities properly. It is important that all public services employees are over trained in their job just in case they need to work in a situation on their own without anyone else telling them what to do. For example, if a member of the ambulance service is by himself/herself and comes across an individual who has been run over, they must know exactly what to do and how to cope alone, and this is an example of why it is important for the public services to be over trained in their job. Every public service carry out different roles and responsibilities and it is through command and control that the individual is able to carry out their daily tasks in an effective and efficient way. Command and control ensures that the individual knows EXACTLY what their job entails and it ensures that the individual is fully trained and over trained in the job they specify in. Command and control in the Army is highly important for military exercises such as drill practise/competitions. The individual in charge of the military exercise e.g. Sergeant Major, must have good command and control over the soldiers in order for the soldiers...
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...How I Got Here Weylon P Fontenot LBSU - 300 Brandman University Looking back how I got here uncovers a lot of old memories, both good and bad. The triumphs, the failures, the times when I was ready to give up and throw in the towel, and the times I felt like I was on top of the world and could accomplish anything. My life so far has been a string of blessings, good luck, some stumbling but ultimately successful to this point. It has not been easy, as no life is. I have learned and grown from my experiences and will hopefully continue to learn and grown. Growing up dirt floor poor in a tiny town in Southwest Louisiana I was one of five boys fighting for love, affection and sometimes food from our single mom. With not enough of any of those three things to go around; I took the first exit I had and joined the Marine Corps. Seventeen days after graduating from my tiny high school I was on my first flight ever to sunny San Diego. The Marine Corps is where I found myself. Being out on my own with the structure of the military behind me, allowed me to develop into a well-rounded young man. Living overseas for my first seven years in the Corps was an experience that had truly shaped my personality. Living in a number of third world countries like Bolivia, Democratic Republic of Congo, and Thailand to name a few, was eye opening. It showed me how good I actually had it growing up, it taught me what hard work really is, and it helped me to appreciate everything I have the opportunity...
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...revolutionary overhaul of the ruling powers in England, as a result of this not occurring it could be argued that in fact there was not a crisis also. Succession was not always secure or consistent in Tudor times and this is underlined by Edward coming to the throne at the age of nine, as he was to young to rule he was placed under Somerset and Northumberland’s Protectorship (until he was of age to rule. This resulted in the manipulation of the young king and showed the crisis of authority Edward had in his rule with the manipulation of his device by Northumberland in an attempt to alter the legitimate line of succession and maintain power. Furthermore there is evidence to suggest that Somerset used his power to usurp royal authority and forged Edwards royal signature to pass various legislation. This shows that there was a Mid-Tudor Crisis as the authority of the monarch was in limbo until Edward became of age, which he never truly reached due to his death, which itself was manipulated in the changing of the...
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...The Secret Sharer written by Joseph Conrad, centers around a character of a sea captain. Its title and opening paragraphs forecast a story of mystery, isolation, duality, darkness and silence. The novel proves true these predictions reveling thematic and image patterns directly proportional to them. The opening of the novel further reveals dialectics in the novel. The clash between the private and the public world or man versus society, in other words is the primary dialectic. The journey theme or the rite of passage theme also reveal themselves. We see a young and inexperienced captain grow and explore himself and the world around him, and in the process becoming a functional member of a society. The novella may be only fifty pages long but its words speak volumes. The first indication of a course that a novel may take is its title. The three little words contained in the title give rise to many interpretations. An image generated by the title could be that of a gossip. Since a gossip is someone who tells people’s secrets, or in other words is a secret sharer if the word secret is taken for a noun, it is a possibility that this image might come to mind. Another image is that of a person who shares in secrecy, therefore becoming a secret sharer, if the word secret is taken for an adjective. This could be an image of a miser, who generally does not share his wealth, but does so only in secrecy. A secret sharer could also be an imaginary friend. It would be a person who is secretive...
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