Corporate Social Responsibility Essay Example | Topics and Well Written Essays - 3000 words

Corporate Social Responsibility - Essay Example This essay stresses that CSR has been known to have a great positive impact on the reputation of a business but very little, if any, impact on the profit margins of a company. This paper declares that the level to which these principles are applied is institutional and is on the basis of a firms basic business obligations as a business unit. Principles of social responsiveness are of value simply because they define the institutional relationship between businesses and the society and gives a specification of what is expected of the business. This being the first level of measuring CSR, it is all about the relationship between the relationship between businesses and the society at large. This level has three major elements. The first major element is legitimacy. This concerns the business as a social institution and it frames the analytical view of the relationship between a business and society. The second element is public responsibility. This concerns the individual firm and its processes and outcomes within the framework of its own principles in terms of what it actually does. The third element is managerial discretion. This element refers to the membe rs of the organization, managers especially, as moral actors of the company. Managers are under obligation to exercise discretion as is availed to them towards socially responsible outcomes within every domain of corporate social responsibility.... Just like any other business variable, CSR is measureable. Much interest has grown on the measurement of CSR and as a result, people have developed numerous literary documents that try to explain how CSR can be measured. The most common approach for measuring CSR is a systems model that is referred to as the 3p Model (Hopkins 2012). This model evaluates the CSR performance of a business on three levels namely: Principles of social responsibility; Processes of social responsiveness; and Products or the outcomes as they relate to the firms societal relationships. Principles of Social Responsiveness The level to which these principles are applied is institutional and is on the basis of a firms basic business obligations as a business unit. Principles of social responsiveness are of value simply because they define the institutional relationship between businesses and the society and gives a specification of what is expected of the business. This being the first level of measuring CSR, i t is all about the relationship between the relationship between businesses and the society at large. This level has three major elements. The first major element is legitimacy. This concerns the business as a social institution and it frames the analytical view of the relationship between a business and society. The second element is public responsibility. This concerns the individual firm and its processes and outcomes within the framework of its own principles in terms of what it actually does. The third element is managerial discretion. This element refers to the members of the organization, managers especially, as moral actors of the company. Managers are under obligation

Death Penalty Research Paper Example | Topics and Well Written Essays - 2500 words

Death Penalty - Research Paper Example The death penalty Introduction There are many punishments that a criminal can face if found guilty of a greater crime, but none is as jarring and final as the death penalty. The death penalty is the sentencing of death to a person who has been found guilty of a criminal offense. When a crime results in the death penalty, the crime is known as a capital crime or capital offense. A lesser crime does not hold the possibility of resulting in the death penalty; a person may face the death penalty if they are found guilty of first degree murder, but not for grand larceny. The death penalty in the United States is only inflicted when the guilty offender has willingly taken the innocent life of another or more than one person. In some states, attempted suicide can be met with the death penalty as the person is attempting to take a life (Carmen, 2008). The ultimate purpose of the death penalty is to take a life for another life. The death penalty is considered to be one of the most controvers ial punishments for criminal offenders. While there are people that believe the punishment follows the adage â€Å"eye for an eye†, there are still others that feel that governments and countries should be â€Å"practicing what they preach† instead of condoning murder by killing another, even if it is done in the name of justice. Regardless of these opinions, the death penalty is alive and well in thirty-five states, the United States military, and the United States government, as well as countless other countries. History of the death penalty law The death penalty has been around for hundreds of years in the United States, though it also has history in Europe in the pre-America era. Practiced by many countries and villages, the death penalty was not nearly as sophisticated as it is today. First and foremost, the death penalty was not only limited to murder, but expanded to include sexual crimes, such as adultery and sodomy, drug and human trafficking, and treason. Som e countries today still recognize some of these offenses as crimes being worthy of the death penalty. Treason resulting in the death penalty is still highly common among militaries throughout the world. If another life was taken or put at stake, then the person who placed them in that position would be faced with death. The methods of how the death penalty was to be implemented have also evolved. One of the earliest methods of the death penalty was by means of stoning. Usually regarded as a public spectacle to make both the crime and the consequence known, the criminal would stand in a designated meeting area before many of the townspeople, all of whom would often play a part in throwing the stones that would kill the criminal (Hood & Hoyle, 2008). Other antiquated methods included hanging and beheading; again, these would take place in public areas to serve as a lesson to prevent further criminal activity. Torture was another common method, one that is looked upon today as being bo th immoral and unethical. Other methods that were observed, though were not as common, were boiling to death, disembowelment, burning, or being slowly sliced or impaled repeatedly. People during these times did not have the fancy machines or equipment that we have now, so they had no choice but to work with what they already had. They got creative with their punishments, looking for methods that would not only get the job done but also supply the criminal with plenty of pain. The gruesome images

Uniform costing

Uniform costing Uniform costing is not a separate or distinct method of cost accounting like job costing or process costing. It is only a system of cost accounting to be used by the members of the industry or trade association. It involves adoption of same costing principles, practices and procedures by the individual members of the industry for inter-firm comparison.The system is made operative through Trade Association or Chamber of Commerce or some other central agency. Its underlying idea is that whatever costing methods are used, the same should be applied uniformly by all the members of the industry. Before a uniform costing system is applied, it is utmost necessary to educate the members about the desirability of this system and its underlying principles. Uniform costing is not a new concept. It was first introduced by the National Association of Stove Manufacturers of U.S.A. which developed a uniform formula for use by its members for costing industrys products. Similarly, a uniform costing system was adopted for printing industry in the United States. But in U.K., British Federation of Master Printers was the first organisation to introduce a uniform costing system. In India, it is being used in coal industry, steel industry and fertiliser industry. There is a good scope of using uniform costing system in other industries too. CIMA defines uniform accounting as â€Å"a system, using common concepts, principles and standard accounting practice, adopted by different entities in the same industry to facilitate inter-firm comparison.† Application Of Uniform Costing System:- Single Company having a number of factories located at different places producing similar products or performing similar operations. For example, this system is being used by Associated Cement Company for its plants. In this case, management prescribes a set of forms and procedures for the plant and all the records are maintained in a uniform manner. A number of companies within the same industry. Normally Trade Associations or Chambers of Commerce coordinates the function of uniform costing system. Members of the association are required to maintain uniform costing records which are helpful in measuring the operating efficiency of its members. It ensures that cost data submitted by member companies are comparable and consistent. Introduction of Uniform Costing helps the companies to submit reliable cost data to price fixing bodies, like Bureau of Industrial costs and Prices or other Govt. departments to determine the average cost and fixing the fair selling prices of various products. Objectives Of Uniform Costing:- To have a reliable cost data for inter-unit or inter-firm comparison of costs. To compare the operational efficiency of individual members against industrys overall performance of all member units. To fix a common selling price for the industry as a whole on the basis of cost of production of all member units. To reveal lines of individual products which have been marketed on an unprofitable basis. To reveal lines of individual products which have been marketed on an improfitable basis. Member-companies adopt one best method of cost accounting system known to the industry. This eliminates unsound method and saves costs required in perfecting systems through expensive experimentation. New companies can adopt it as a ready-made system. Other companies can adopt the common system for improving their existing system. It develops a sense of awareness for production efficiencies within the industry for controlling costs. It provides standard guidelines for pricing of products and indicates how prices fixed below la certain level may be self-defeating even though it may bring additional sales. It is beneficial to all the competing companies for filling tenders and quotations and consequently ill-effects of competition are avoided. In case of ‘cost-plus contracts, uniform costing facilitates preparation of cost sheets on commonly accepted standard principles and practices. Thus, it helps early finalization of ‘cost plus claims. It helps the Chambers of Commerce and Industry to present their case to Government on matters such as tariffs or export incentives. It encourages research and development work at comparatively low cost to the member-companies. The benefits of research and development carried out by large scale organized units can be shared by the small units. It enables the member-companies to receive the services of cost experts jointly with the minimum expenditure. It facilities the introduction of uniform wage structure for the industry as a whole. It serves as a pre-requisite to cost audit and inter-firm comparison. The various member-units in an industry differ widely with regard to location, age, condition of plant and degree of mechanization. This difference is sometimes so wide that it does not permit efficient use of uniform costing system. For smaller units, this system may not commensurate with the benefits derived. Uniform costing system may not commensurate with the benefits derived. The standard terminology used in the uniform costing system may not be understood properly by the member companies. However, this objective can be overcome by introduction of Uniform Costing. For Successful Application Of Uniform Costing System, The Following Conditions Must Be Satisfied: The members of the trade association or Chamber of Commerce should work with a spirit of mutual trust and cooperation. Members should exchange their ideas freely, without fearing the leakage of secrecy. The well-organised and large-scale sector should be prepared to pass on the technological improvements in the process/method of production to the other companies who unable to conduct their own research and development activities. The companies must furnish full and correct information to the Association so the efficiency of the members-companies can be compared. The members should not work with a sense of rivalry and jealousy. The term ‘Uniform Cost Plan covers activities such as cost accounting system, format for reports, analysis of cost data, etc. Some of the activities which may be carried on partially or completely are as follows: Publication of pages, speeches or discussions of important matters pertaining to costs in Trade Journals. Publication of educational literature pertaining to objectives of cost finding. Studies of particular costing problems in the industry to develop sound principles. Activities of counseling nature relaxing to establishment or operatives of cost accounting system. Development of estimating formulae or short-cut methods of establishing basis for pricing. Development and promotion of uniform cost programme. Cost studies in determining average or representative cost of products, functions or activities for general information of members. Regular collections and dissemination of cost data under some kind of reporting plan. Complete analysis of cost data to interpret results to show trends, weakness of operation, etc. Whether cost data are required for one product or al the products produced in a factory. Costing techniques to be used, i.e, historical, standard or marginal. Definitions of various elements of cost such as: v direct material v direct labour v cost of direct services v factory overheads, administrative and selling overheads. Items which are extraneous to costs such as bad debts, donations, etc, and to be excluded from cost. Classification of production and service departments. Method of treatment of spoilage, defectives, etc, in costs. Treatment of research and development in costs and methods of allocation of research and development to each cost centre/cost unit. Treatment of handling and storage cost of raw materials. Method of pricing of materials used such as FIFO, LIFO, simple average, weighted average. Production centres, cost centres, etc, to be used for analysis and comparison of costs. Methods of payment of remuneration. Treatment of items like interest on own capital, rent of premises owned, etc Method of working out depreciation, i.e, whether straight line method or written down value method to be used. Method of apportionment of service departments costs to production departments. System of classification and codification of cost accounts. Method of valuation of work in progress. The method of presentation of data and reporting to management. Treatment of under/over absorbed overhead, eg. Applying supplementary rate or write off to profit and loss account. For successful implementation of uniform costing system, it is the primary duty of a Trade Association of devise a cost manual containing recommended cost accounting plan. All the participant members should be invited for detailed discussion before a cost manual is finalised. The cost manual is of immense help in guiding the participating firms to operate their accounts on uniform basis. If the industry consists of companies of similar size and a common range of products, it is entirely feasible to present the accounting procedure in one manual for use of all members. Where, however, there is a great disparity in size of companies in an industry, it is better to issue a separate manual for large companies and one for the small. The Characteristics Of A Good Uniform Cost Manual Are Summarized Below: v It should present a strong case for the desirability of using uniform cost accounting methods. v It should serve as a comprehensive reference book on cost accounting procedures. v It should be useful to the executives/cost accountants for saving all problems in installation and execution of recommended uniform costing method. Introduction Statement of objectives and purpose of the system. Education the management and people about the uniform costing system Scope of the system. Case for use of the system. Organisation Organisation for developing and operating the system. Stages in which the system is to be introduced. Management of the organisation by trade association or otherwise. Accounting System General principles of accounting to be adopted. Terminology to be followed. Details of coding system. Classification and description of accounts. Reconciliation between financial accounts and cost accounts. Accounting period. Method Of Costing [E.G. Process Costing, Job Costing, Standard Costing.] Unit of production. Costing periods [e.g. monthly, quarterly, half-yearly or annual] Expenses to be considered in costs. Methods to be used for inter-unit transfer pricing. Classification of departments [Production department, service department, etc.] Material cost direct and indirect, treatment of idle time, treatment of fringe benefits, overtime, production bonus. Overhead-classification,collection, apportionment and allocation. Direct and indirect depreciation, method of depreciation to be used, research and development expenditure,methodofallocation/appotionment of service department cost to production department, capacity cost etc. Reporting. Periodically of reports. Levels for whom the repors are to be sent. Cost statements. Ratios -cost as well as financial. Supplementary data. Ø Nature and extent of information to be accumulated Inter-firm comparison requires that all relevant and detailed cost information should be collected regarding business firm. No definite list of information can be suggested for collection. However, the following are the usual information which are applicable to all industries and therefore can be collected for the inter-firm comparison: Information regarding cost and cost structure. Labour efficiency and labour utilisation. Machine efficiency and machine utilisation. Raw materials consumed wastage and stores-keeping. Return on capital employed. Liquidity and liquid resources. Reserve and appropriation of profits. Debtors and creditors. Methods of production and technical aspects. Inventory and inventory systems. Ø Responsibility for collection, coordination and presentation of information In some countries separate organisations have been established for collecting and presenting information. in India inter-firm comparison information is collected by various trade associations, chambers of commerce, the national productivity council, research and statistics division of several commerce and trade journals and periodicals and newspapers. Ø Method of collection and presentation of information Information for the purpose of inter-firm comparison is usually supplied by business enterprises to organisation regularly. Information can be collected by field workers also. After the information is collected, it is properly compiled and arranged and finally a consolidated report is prepared for the benefit of business firms. For the information to be purposeful, it is essential that participating firms should agree about the meaning of various terms used in ratios and accounting information The printing industry in UK has played a leading role in the establishment of uniform costing system this industry was first to introduce the uniform costing system.This was a welcome step for introduction of inter-firm comparison in the printing industry. The industry awas divided into various groups each having its own ratios based on differents characteristic of the firms. The division is based on the following characteristics: Nature of activities carried in the printing industry, eg, genral printers , book printers,. newspapers houses, and Size determined bu number of employees. It is to be pointed out here that actual figure sof profit or other details are not issued to members so that there is no betraying of confidence. Emphasis is always laid on depicting the average results so that a single firm can make a comparison to see whether its own ratios are equal, better or worse than the average for its own particular group. For each ratio the median and upper and lower quartiles are computed. The principal ratios used by the principal industry in u.k are given. The benefits from inter-firm comparson include the advantages of uniform costing system and benefits arising out of the use ratios. The advantages of uniform costing system has been discussed before. The following additional advantages are obtained from inter firm comparison: The extent of weakness of the participating firms is reaveled. Management is, therefore induced to take suitable remedial actions. The participating firms give information voluntarily and willingly in the prescribed questionare. The definations of various terms are clearly explained to the users. Thus the results obtained from the information are accurate and capable of being compared. Inter- firm comparison promotes cost consciousness among the members of the industry. It enables the government to take measures for effecting price regulation. It facilitates government to grant protection to industries, wherever necessary. It introdues a sense of healthy competition among the participating firms. It provides substantial data to the members-firms to present their case to government. It forces ‘self searching exercise among the members-firms. The benefits arising from inter-firm comparison have been outlined above. It is very good practice which promise substantial benefits to the members of the industry. The practical difficulties which are often experienced in the implementation of IFC scheme are summarized below. The member-firms often express resistance to the idea of disclosing data relating to the performance. Satisfaction with the present profits may bring about a sense of complaceny which is disastrous for active participation in the implementation of IFC When the companies do not follow suitable cost acconting system,the inter firm comparison will not be meaningful and effective. Non availability of suitable basis for comparison presents problem to the introduction of IFC. Ø GOOGLE.COM Ø YAHOO.COM Ø COST ACCOUNTING BY JAWAHAR LAL Ø COST ACCOUTING BY SULTAN SONS

The Drug Codeine :: essays research papers

The Drug Codeine We used several different sources to gather our information. We go information from Jay Moser and Sue Peterson, our two local pharmacists. We researched medical encyclopedias, journals, and magazines. Codeine is known medically as methylmorphine. It is a drug derived from opium, a poppy plant. It was discovered in 1832 by French chemist Pierre-Jean Robiquet. Codeine constitutes about 0.5 to 2.5 percent of this plant substance. The drug has been in use since the early 1900's and it shares most of the pharmacologic characteristics of morphine, the other alkaloid in opium. Codeine is classified as a narcotic, it has the same painkiller effect as morphine but is only one-sixth to one-tenth as strong. Codeine occurs as a colorless or white crystals or as a white, crystalline powder and is slightly soluble in water and freely soluble in alcohol. The phosphate and sulfate salts of codeine occur as white, needle- shaped crystals or white, crystalline powders. Why is it used? Codeine is most useful in the relief of mild to moderate pain. It is also used as a cough remedy because it suppresses the part of the brain that triggers coughing, and as an anti-diarrheal drug, because it slows down muscle contractions in the intestinal wall. There are possible adverse effects. The most frequently observed adverse reactions include lightheadedness, dizziness, sedation, nausea, vomiting, and sweating. These effects seem to be more prominent in ambulatory patients and in those who are not suffering severe pain. Other adverse reactions include the following: (1) Central Nervous System- Euphoria, dysphoria, weakness, headache, insomnia, agitation, disorientation, and visual disturbances. (2) Gastrointestinal- Dry mouth, anorexia, constipation, and biliary tract spasm. (3) Cardiovascular- Flushing of the face, abnormally slow heartbeat, faintness, and syncope. (4) Genitourinary- Urinary retention of hesitancy, anti-diuretic effect. (5) Allergic- skin rashes. Most drug manufactors list specific warnings to be aware of when taking codeine. (1) Codeine sulfate can produce drug dependence of the morphine type, and therefore has the potential for being abused psychic dependence, physical dependence and tolerance may develop upon repeated administration of Codeine. (2) Codeine may impair the mental and or physical abilities required for the performance of potentially hazardous tasks such as driving a car or operating machinery. (3) Patients receiving other narcotic painkillers, general anesthetics, tranquilizers, or other central nervous system depressants, including alcohol with codeine may exhibit an additive central nervous system depression. Who shouldn't take codeine? Pregnant women should not use codeine because safe use in pregnancy has not been established. Children below the age of three shouldn't be given this drug for that age group hasn't been established. Codeine should be given with caution to certain patients such as the elderly or

Code of conduct Essay

A Code of Conduct is published and disseminated to its employees, and to existing and potential stakeholders such as members of the board of directors, customers, partners, vendors, suppliers, potential employees and the general public. Frequently posted on the organization’s website and in their annual report to shareholders, the Code of Conduct is both an internal commitment to a standard of behavior and beliefs and a public declaration of the organization’s position on a set of standards, values, principles, and beliefs. The Code of Conduct is the heart and soul of a company. Think of a Code of Conduct as an in depth view of what an organization believes and how the employees of an organization see themselves and their relationship with each other and the rest of the world. The Code of Conduct paints a picture of how employees, customers, partners, and suppliers can expect to be treated as a result. After going through major corporation code of business I decided to write a paper based off of one companies code of business ethics outline. That company is Amazon. The reason I chose Amazon was how simple there code of conduct in ethics was for how large of a corporation they are. The following are the things I felt could used revision. The company I found online for code of conduct was Amazon. They had a short and simple code of ethics page. Although short and to the point I feel they left a few things out. Amazon is a company that relies on distribution through vendors and returning customers. I felt that nowhere on this page was there a place that states they hold management or vendors accountable. Owner and upper level management accountability is very import for a company’s code of conduct. These individuals are requires to show honesty, transparency and integrity in their daily rolls. This sets the ethical base for a company, along with it also keeps individual owners and managers accountable for their actions. A unethical manager that is allowed to rein free in a business can create a difficult business situations and over extend a company’s resources. The next point I would like to make is, even though they mention compliance  with the laws I think they fail to mention anything about inappropriate behavior. Many companies use a code of ethics to prevent inappropriate employee behavior. Inappropriate behavior can include lying to clients, engaging in froud, failing to meet specific operational standards or similar conduct. A code of ethics about this subject can help employees understand why these actions are inappropriate and the reasons companies expect better behavioral performance. Companies may also limit their legal liability from poor employee performance by usiing this code of ethics. Another great point I would like to bring up about Amazons ethics code is their ability to institute the code. For a code of conduct to be useful, it is importance to introduce and endorse it at the highest level of business. Once the code is written, The CEO and governing body should sign off on it. Then, the company can incorporate it into training programs. Many companies require staff members to sign a document that they read and understand the code, and others require all employees to abide by the code as conditions of their employment. Many companies also use an internal review to measure the effectiveness of their code. This may be all done internally, but nowhere on the code of conduct was it instructed or announced that they do this. A code of conduct is developed either by a powerful executive, or often the owner. In amazons case is feel this was a cross section of employees that have executive influence, so it would be easier to incorprate and integrate. It is more likely to affect the actual beleifs and operation of the organization. The code of conduct will most likely acheive full implementation with in the organization when more are involved in the creation. Due to this I feel amazon has missed a few valuable areas in which they can improve on with their revisions for the future with code of conduct and ethics. Cite: Retrieved June 1, 2014, from http://phx.corporate-ir.net/phoenix.zhtml?c=97664&p=irol-govConduct

Capital Budgeting Essay

Introduction The purpose of this paper is to analyze and interpret the answers of the Capital Budgeting Case. I will discuss my recommendation about which Corporation and investor should acquire based on the quantitative reasoning. I also will describe the relationship between the net present value and the internal rate of return for the two corporations that are analyzed. Capital Budgeting Case A company is planning in acquiring a new corporation and there are two options with the same cost of $250,000 but both with different 5-year projections of cash flows. The evaluation done to the two corporations (A and B) is based on the Net Present Value (NPV) and the Internal Rate of Return (IRR). The net present value represents the value the project or investment adds to the investor wealth. The NPV method of capital budgeting suggests that all projects that have positive NPV should be accepted because they would add value to the investment. On the other hand, the internal rate of return is defined as the discount rate that equates the present value of a project’s cash inflows to its outflows. According to the internal rate of return method of capital budgeting, the investment should be accepted if their IRR is greater than the cost of capital. The results for Corporation â€Å"A† shows a NPV of $20,979.20 based on discount rate of 10%. And, we got an IRR of 13.05% which means that is the discount rate that makes the NPV equal or close to $0.00. On the other hand, the Corporation â€Å"B† with a discount rate of 11% got a NPV of $40,251.47 and an IRR of 16.94%. A positive NPV is considered a good project, and we want to choose the one with the highest NPV. Therefore, I would recommend acquiring the Company â€Å"B† because it has a higher NPV than the other company. Corporation B will be giving us a current value cash return of $40,251.47 above our 11% required rate of return during the next 5 years. And, if we recalculate the NPV using the IRR of 16.94% it will result on an NPV close to $0.00. The relationship between NPV and IRR is based on the discount rate used to bring up the cash flows to the present. For the case of Company â€Å"B†, with the discount rate of 11%, if we have a NPV of $0.00, our IRR will also be 11%. But, if our NPV is higher than $0.00, our IRR will be also higher than 11%. And, if we have a negative NPV, then our IRR will be less than 11%. In other words, the NPV and the IRR most of the time yield the same result of acceptance or rejection. Conclusion In conclusion, the best recommendation is to acquire Company B because it will give us higher current values during the first 5 years and higher returns of the investment.

Cytology essays

Cytology essays In Killing immune cells thwarts arthritis, written by John Travis is an experiment discussing the hypothesis and experimentation of Jonathan C. Edwards of The University College London. The topic was rheumatoid arthritis which affects 2.5 million people in the United States. Edwards hypothesis was that the condition stems from bad luck. This all meaning that the body generates millions of B-cells each day. If by bad luck B-cells make antibodies to themselves and other antibodies then this chaos would cause the disease rheumatoid arthritis. Edwards experimentation required the depletion of B-cells, thus eliminating the disease. After much research needed to provide the safety of the patients health, Edwards began with his experiment. Edwards first used twenty patients who had carried the disease for an average of twenty-two years of age and failed to drug treatment. Three drugs were then given to the patients: a B-cell killing antibody and two compounds that suppress new B-cell forma tion. After the completion of the experiment eighteen of the patients resulted with less pain and symptoms of the disease. Overall, Edwards hypothesis and experiment was a success. This article reflects on the class discussions in various ways. First, by the scientific method. The steps were followed as instructed properly. Also discussions over biological organization and the formation of cells to make tissue. B-cells are being discussed within the article and it directly relates to the hierarchy of biological organization. The last point that relates to class discussion is that B-cells produce antibodies which in turn fight off unwanted diseases such as cancer. Reading an article for AP biology helps me relate to many different topics and expand my thinking and relating of experiments to mind and in turn benefits me. As experimented by Jonathan Edwards, the hypothesis followed harmoniously along with the experiment tak ...