The 2002 failure of Enron corporation and Arthur Anderson Co, their Essay

The 2002 failure of Enron corporation and Arthur Anderson Co, their auditors - Essay Example This study discusses what happened with Enron, defines the problems that plague the high profile corporation, present solutions and alternatives, as well as give a sweeping opinion on how the problems could have been solved or avoided in the first place from this researcher's perspective alone.Enron Corporation was an American energy company and considered as one of the world's leading electricity, natural gas, pulp and paper, and communications group of companies. It claimed $111 billion revenues in 2000 and Fortune magazine accorded it "America's Most Innovative Company" for six consecutive years, employing around 21,000 people. Enron started out as Northern Natural Gas Company in the early 1930s at Omaha, Nebraska. It became an organized holding company Internorth in 1980s, and then it purchased Houston Natural Gas in 1985 of which Kenneth Lay became the chief executive officer. The merged company was named Enron and was involved in transmission and distribution of electricity and gas throughout the United States. It also engaged in the development, construction and operation of power plants, pipelines, and other infrastructure worldwide. It later market and promoted communication bandwidth commodities and other "derivatives" and grew in opulence behind inflated, fraudulent and non-existent financial reports. Enron declared bankruptcy in late 2001. By 1995 accountants at Arthur Andersen knew Enron was a high-risk client who pushed them to do things they were not comfortable doing. Critics have identified the complicated management approach as one of the culprits that caused Enron's collapse. Initially, the company performed extensive diversification to expand its product and service lines. Because of the strategy, the company experienced robust growth and gained reputation as a multi-dimensional firm. In addition, the firm continued to evolve its business model. Considering the unpredictable circumstances and calculated risks, Enron was successful on paper. This was reflected in the financial reports suggesting the extent of growth in the financial capability of the company. Specifically, the level of stocks reported by the company has skyrocketed. The information provided by the Enron 10-K annual report suggests that it was only in 1997 that the company experienced a decline. According to James Hecker, one of the investors of Enron, Andersen had knowledge on the nature of Enron's operations. The company even branded Enron as a high risked firm that is willing to do all means required to achieve its goals. Moreover, Hecker described the relationship of the Andersen employees to Enron. In the exact words, Hecker said: "Managers in the doorway, thinking out of the box. And I was thinking to myself, I'll bust by butt and then I'll bust my rocks (Schepp, 2002)." This satire showed how generously the employees of Andersen working for Enron were compensated and provided with great incentives. Moreover, Hecker described Enron as a lovely face and a fragile place. Basically, Hecker has knowledge on the true status of the company. Hecker even mentioned in the satire that the managers will soon bring their alibis to court. Precisely, Hecker highlighted the events that will happen years later

FAA inspections on Boeing 737's and how it relates to Operations Research Paper

FAA inspections on Boeing 737's and how it relates to Operations Management - Research Paper Example It provides employment opportunities to over 170,000 individuals throughout 70 nations. It is also regarded as one of the oldest manufacturers of commercial airlines having its root from the last 40 years. It also manufacturers missiles, defense systems and satellites and is a major service provider to NASA (Boeing, 2013). The main aim of this research paper is to provide a broad description on the main reasons behind the Federal Aviation Administration (FAA) to order inspections of more than 1,000 Boeing 737 jets and to show appropriate reasons that the inspection of the airline can help the company in ensuring proper management of operations. Operation Management Operations management is considered as one of the most vital parts of an organizational life cycle irrespective of the fact that it is involved in producing goods or services or is functioning in private or public sectors. The main purpose or aim of operations management is to implement steps that may help the organization to operate efficiently. With reference to the article, â€Å"FAA Orders Inspections on Boeing's 737 Aircraft† by Andy Pasztor, it can be apparently viewed that the potential effect of factory defects in the manufacturing process of Boeing 737 has led the company to inspect more than 1000 Boeing 737s, causing an incurrence of total compliance costs of nearly US$10 million (Pasztor, 2013). The main steps which are usually followed in the process of operations management are discussed below: Contact customer: The first step in operations management is to obtain information on the demand, intension and the core customers/potential customers to buy the products’ produced. Moreover, conserving the contact information is also done to measure the market action (Mahadevan, 2009). Contribute a demand: The next step in the process is to propose a demand of service or product to the qualified customers. This can be done by offering a written proposal to potential customers. It is considered that business proposal is often determined to be a step in settling complex business processes. For instance, companies like Boeing usually adopt the policy of providing business proposals to potential airlines in order to offer them a broad description of the services they render and the way in which they differ from their competitors (Mahadevan, 2009; Neely, 1993). Sale: In this step, the contract or sale of the product is done to their potential customers. Establish a written procedure: In this vital step, both the parties agree upon a mutual agreement in keeping with the different aspects such as characteristics and date of supply of the final products among others. The step is recognized to be a vital part as both the parties are benefited from it (Mahadevan, 2009). Required resources: In this step, all the necessary equipments, products and additional resources needed to complete the project are verified. The costs of the entire requirements are measured to impleme nt it in inventory management (Mahadevan, 2009). Execution: In this phase, the written process is applied in the practical form, resulting in the formation of the defined product (Mahadevan, 2009). Effectiveness: The final expectation according to the contract or customer is measured. Delivery: This step involves the process of delivering the final product to the end customer. This step needs

Fat Tax brings Fat Benefits Essay Example for Free

Fat Tax brings Fat Benefits Essay Junk food. Do any of us know the meaning of the term? Do the consequences of developing lethal diseases not concern us? Apparently, todays society is well aware of what it is, (food with a low nutrition value and is usually processed or ready-prepared (Junk Food)) and what it can do, yet they prefer not to have truth repeatedly slapped in their face by the media. The way I see it, thats exactly what these individuals are asking for. They say diets are productive, but its based off of self-encouragement which can only take you so far. According to an article composed by William Dietz, Obesity is a matter of personal responsibility. Poor dietary decisions cost individuals the expansion of their waist lines. What many do not realize is that as they continue to visit fast food restaurants for breakfast, lunch, or dinner, they develop an addiction. Sooner or later, they find themselves wrapped around junk foods salty fingers and havent bothered to notice that they no longer can see their toes standing upright. Higher taxes should be imposed on processed goods because it could lower death rates and medical bills that tie into obesity, encourage the consumption of healthy products, and educate Americans about adapting correct eating habits. Americans today are consuming 20% more calories than they did in the early 1980s, (Would Imposing par. 3). Also, during that time period, only one third of Americans populace were identified as obese which is equivalent to 13%. However, over the past 25 years, America has exceeded to about 60% of the population being fat (Oliver par. 8). Due to the continuous establishments of fast food restaurants, Americans have noticed that their waist lines have expanded substantially. Hundreds of years ago, McDonalds, Jack in the Box, Wendys, and Burger King were non-existant. With McDonalds Big Mac meal containing approximately 1,300 calories, its no wonder America has been suffering an obesity epidemic. Its because of these successful  companies that we have to pay for the over flowing stacks of health expenses theyve created for us. Comparing Americans then with Americans now, you could literally see the difference without the need of any statistical information from surveys, documents, and whatnot. One of the many reasons why the government is taking this fat tax into consideration is due to the overwhelming figures of premature deaths and medical bills occuring across the nation. According to studies, officials are hoping that taxation on junk food could avert 2,600 deaths, 9,600 heart attacks, 240,000 new cases of diabetes every year, (Chan par. 2). Thats not the end of it. These numbers are ascending as I we carry on with our normal daily lives. For all I know, 2013s statistics for premature deaths due to obesity could escalate to 3,500! Almost every year, Americas government is burdened by the stunning $117 million in debt they have to pay because of people becoming diagnosed with multiple heart diseases thanks to the consumption of fast food. With that being said, the Centers of Disease Control (CDC) informed the public that too much of todays society relies on the cheap and convenient take outs our restaurants provide us. They encounter at least 400,000 individuals with health problems, charging them almost $100 million a year (Lewis par. 4). For this reason, it is why unhealthy grubs are purchased regularly. If people were to choose between a $2 cheeseburger and a $10 salad wrap, what are the chances of them picking the $10 salad wrap? Thats what I thought. Its disappointing knowing that profits made from fast foods are used to assist our nations debt. Why cant the money derive from potent nourishments? Why do we allow the selling of unsalutary meals, knowing we are feeding them death munchies? In Addition, America has judgement skills that are completely frail and incompetent. Here we are placing exorbitant prices on healthy products when it should be the life-threatening comestibles that should be prohibited. A hand full of officials in the country have required several fast food restaurants to display calorie-count labels to drive individuals taste buds from convenience food. But even that wont prevent obesity (Mozes par. 7). Nevertheless, even a simple a simple label couldnt stop the hungry beasts of America from  gobbling down chunks of blubber. Due to these astonishing numbers, Americans are looking towards taxing junk food similarly to sin taxes. Its a tax on harmful items (such as alcohol, tobacco, etc.) that could reduce its consumption. Officials have been pushing for states to insitute a fat tax and consider it as a sin tax. According to several smokers in New York, they discovered that paying a total of $14.50 for one pack of cigarette wasnt worth their money. Some of them knew that complaining wouldnt get them anywhere, so they eventually ditched the dependency (Sutherland par. 2). With the assistance of this sin tax, smoking rates dropped by 12%, (Would Imposingpar. 3). This specifically proves to opponents that bomming junk food tariffs can depreciate premature death percentages and medical expenses as well. Obviously, pricey items attract less customers nowadays; so the higher the taxes, the lower the consumption. Plus, our government could distribute these taxes to health services and programs that illustrate the essence of corpulence. Also, whether the populace continues to ignore the governments warning through tariffs, either way the tariff generated $30 million in new revenue, tax records show. Basically if fast food customers wish to pursue their daily routine visiting McDonalds, itll still bring the economy extra dough to support the country. Even if our main focus is to sever societys tongue from higher cholestrol levels, we can only succor those who wish for assistance. Moreover, authorizing taxes on fast foods could subsidize the nutritional products that actually supply our physiques with the appropriate energy it naturally pines for. Knowing that the poorest in the country rely on cheap junk food, (Lewis par. 5), automatically discloses that this necessitates more natural resources. However, in America its vise-versa. The more nutrition an item contains, the more you have to pay. With higher taxes on junk food, there would be no need for the federal to tax our fruits and vegetables. Society will eventually quit their whining and chase cheaper alternatives. Representatives throughout the country have calculated that an 18% tax  on junk food would result in a 56-calorie decline in total daily intakealong with significant reductions in the risks of most obesity-related chronic diseases, (Fiore par. 12). Doctors have stressed that the recommended calorie consumed should be in the range of 2,000 calories. By the looks of it, Americans today are exceeding these limits. And they wonder why they are experiencing strokes, heart attacks, and becoming diagnosed with diabetes. Lastly, more health education could influence the populations mindset about the need to eat sugary items. Media has played a huge role in advertising greasy items. Instead, we could use this strategy to discourage our customers from purchasing fast foods, stressing our concerns of obesity. Our targets would be the same audience that was exposed to fattening commercials. Raising awareness within our communities, and then our country is what the U.S. lacks today. It has been said that You are what you eat, but are any of us aware of exactly what we are putting in our mouths? They may display what supplies make that particular meal, but do they show how much butter they use to cook steaks? Apparently, the U.S. Department of Agriculture says hamburgers have been growing from 1 ounce in 1957 to 6 ounces in 1997, (Oliver par. 11). If 1997 was sixteen years ago, just imagine how hefty burgers are today? Notifying our customers about junk food should be our leaders priority. It would be irresponsible not to try everything we can to save livesPeople are dying everyday due to sugary products, (Bloomberg qtd. in Heaton par. 5). I couldnt agree more with Mayor Bloomberg of New York. He is probably the only official that wants to institute a fat tax to give back to the people he represents. Americans are self-centered, and their main focus is money. No one cares if theyre putting ones life in jeoparady by creating harmful grubs. If one was to take a stand against these fast food companies, itll have to start with our leaders. On the other hand, controversies have made society equivocal about the implementation of taxation on packaged foods. As expected, citizens of America claim that the government is becoming too controling, and their freedom of choice is being stripped from them. While our officials  intensions are to perpetuate the corpulence widespread, others feel provoked because they believe the government is trying to dictate their intellect (Lewis par. 3). Our leaders stress that taking care of the well-being of our internal organs should be our priority. However, the public refuses admit to the valuable advice they articulate. Many feel as if they were to say, Who are you to tell me what I can eat and not eat? Its only fair that the people have the last say. After all, this country was established fighting For the people, by the people (Star Spangled Banner). On top of that, as stated in an article by Jen Kalaidis, tax also costs [the] country an estimated 1,300 jobs because employees would no longer be needed in food retail sectors. Although an collection of occupations would be lost, many tend to give in and develop the mindset of a pessimistic. As Alexander Graham Bell, (an eminent scientist, engineer, innovator, etc.), proclaimed, When one door closes, another door opens. The message he speaks of is about preserverence and circulating nothing but positive thought within your mind. Americans who fear losing their jobs should realize that plantation fields and factories will demand more and more employees once the fat tax is instituted. The fields will require more man power for labor work, and for manufacturing purposes as well. You will soon after notice that grocery markets will have job oppertunites. Its actually a ripple effect, and once the economy is back to the way it was before the nation debt came about, the unemployement will be no more. Therefore, it is essential to communicate the outweighing benefits of a fat tax to the public now, before America begins to hit a downfall in the next five years. Junk food should not be outlawed, nor should it be cheap. If Americans want to continue this portliness evolvement, they can expect to see excessive aftermath in death rates. These unhealthy eats are about to rebuild our countrys values soon enough. However, with the assistance of this Twinkie Tax, I believe we could expect a tangible decline in Americas death progression and health expenses, a promotion of organic products, as well as more programs raising awareness of corpulence. Works Cited Chan, Amanda L. â€Å"Raising Junk Food Prices Could Spur People to Consume Less: Study.† The Huffington Post. The Huffington Post.com, 12 Dec. 2012. Web. 26 Apr. 2013. Dietz, William. â€Å"Obesity ProCon.org† Obesity ProCon.org. Search Engine Optimization, 19 Apr. 2013. Web. 26 Apr. 2013. Elder, Larry. â€Å"Just How Fat Are We?† WSJ: World Stream. WND Commentary, 1997-2013. Web. 26 Apr. 2013. Fiore, Kristina. â€Å"Junk Food Tax Could Improve Health.† ABC News. ABC News Network, 10 Mar. 2010. Web. 06 May 2013. Heaton, Richard. â€Å"NYC Soda Ban Overturned then Appealed.† Digital Journal (2013): n.pag. Print. â€Å"Junk Food.† Dictionary.com. Dictionary.com. n.d. Web.05 May 2013. Kalaidis, Jen. Should the U.S. Adopt a Fat Tax? The Week [New York] 25 Feb. 2013: n.p. Print. Lewis, Catherine. â€Å"The Junk Food Tax: How Much are We Willing to pay to get America Healthy?† Your Health Information Center. Insiders Health, 2011. Web. 5 May 2013. Medical Weight Loss Resources. Top 10 Obesity-Related Diseases. American Heart Association, Centers for Disease Control, National Institutes of Health, 23 Apr. 2013. Web. 16 May 2013. Mozes, Alan. â€Å"The Fat Tax.† A Controversial Tool in War Against Obesity. (23 May 2005): 2-3 Print. Oliver, J. Eric. â€Å"A Big, Fat Problem.† Fat Politics: The Real Story Behind Americas Obesity Epidemic. Oxford: Oxford UP, 2006. 1-4. Print. Sutherland, Amber. Smokers Huff Puff Over New Cigarette Tax. New York Post. New York. 3 July 2010: 1-2. Print â€Å"Would Imposing a High Tax on Fast Foods and other Unhealthy Foods Help Combat Obesity Issues in U.S.?† Debate.org. Centers for Disease Control Prevention, 22 Nov. 2010. Web. 29 Apr. 2013.

Transformational Leadership in Nursing

Transformational Leadership in Nursing Ashley Freeman Introduction Transformational leadership theory is the process whereby the leaders attends to the needs and motives of their followers so that the interaction advance each to higher levels of morality and motivation (Yoder-Wise, P., 2014, pg. 10). In its most optimal form, it produces positive and valuable change within the followers with the purpose of developing the followers into leaders. When a leader embodies transformational leadership, they enhance the morale, motivation and performance of followers with various techniques. These techniques include helping the followers to connect their sense of self and identity to the mission and the collective identity of the organization; inspire followers by being their role model; challenge followers to go above and beyond what is expected of them, and understand their strengths and weakness, so the leader can assign tasks to its followers that can optimize their performance. Background In 1978 leadership expert, James McGregor Burns developed the first concept of the transforming leadership theory. He created this theory to address the aspects of an organization in which leaders focus on the beliefs, success, needs and values of their employees. According to Burns (1978), the transforming approach creates significant change in the life of people and organizations. It redesigns perceptions and values, and changes expectations and aspirations of employees. In 1985 Bernard M. Bass extended the work of Burns by explaining transforming leadership, but using the term transformational instead, that the followers of such leaders feel, trust, appreciation, constancy and respect for the leader because of the attributes of the transformational leader willingness to work harder than anticipated. Transformational Leadership in Nursing Transformational leaders have the following characteristics: model of integrity and fairness, effective communication skills, provides support and recognition, sets clear goals, visionary, encourage others and has high expectations (Yoder-Wise, P., 2015). My current nurse manager, Cathy, is a transformational leader. She allows the Patient Care Coordinators (PCCs) or charge nurses and sometimes the staff to participant in the decision making. As one of the PCCs, Cathy lets me make decisions about staffing and I am responsible for scheduling the staff. She provides constructive criticism, offers information, makes suggestions, and ask questions (Blais Hayes 2011, p. 167). Cathy lets me know when I am doing a good job and gives me recommendations on how I can make improvements. She gives us complements and rewards for working an extra day, orienting new staff or mentoring student nurses. Cathy is open and encourage openness, so that real issues are confronted (Blais Hayes 2011, p. 16 8). She respects each individual and values and uses each staff members contribution (Blais Hayes 2011, p. 168). She encourages everyone to be a team player because when everyone is working together, there is a higher job satisfaction, less nurse turnover, better patient satisfaction and outcomes. She comes to work with a smile on her face, says good morning and how are you doing to everyone. She builds relationships with the staff and gets to know everyone on a personal level. She is straightforward and gives you her honest opinion. Cathy is a good leader and remodel. Since I am a member of the leadership team as a PCC of a critical care unit, we must be able to contain cost while ensuring staffing productivity and competency, along with improving patient outcomes. One major area of cost containment where I work is staffing productivity. My hospital uses a predictive model to determine the number of full-time staff each department can have based on the number of patient that were seen that month from the previous year. I work in an eight beds intensive care unit and our staffing grid is the following: eight or seven patients four nurses and one patient care tech. (PCT); six patients three nurses and a PCT, five patients three nurses and a PCT, unless we are tight on man-hours then we can only have two nurses and no PCT, however if there is a patient(s) that needs behavioral observation (sitter), then we can have that extra person; four patients two nurses, unless patient(s) need a sitter, then we can have an extra person; three patients two nurses and no PCT; two patients two nurses and no PCT and one patient one nurse and no PCT. When we have an odd number of patients, we tend to go over in man-hours, so we must follow our staffing grid to ensure that we dont have to answer to administration. As a nurse manager, you educate, encourage and support staff through the changes to come within health care. Its the nurse manager role to ensure that all staff is maintaining the current acceptable level of care. Along with maintaining adequate staff for patient safety, while controlling the budget. One of my responsibilities is to help motivate the staff to buy into different policies and procedures changes. We recently had our blood culture collection policy changed and I had to educate all the staff about the new changes. One of my biggest attributes is that I am a visionary leader because I can envision the potential reality, think outside of the box and I have innovative ideas. I can come up with new ideas and new ways of looking at situations. I am a big thinker and I dream even bigger. The critical care unit that I work in has eight beds, so relatively small, and it is on the third floor. We will be expanding, which means more beds, however, I requested through my manager for the unit to move down to the first floor because it makes more sense for us to be down there, close to the ER, OR and radiology, but I was told that was not going to happen. That was just one of the many ideas that I had. As health care continues to transform, hospitals should work to improve current practices for the future. Whether you are a leader, a follower, or a manager, being able to visualize in your mind what the ideal future is becomes a critical strategy (Yoder-Wise 569). The Wise Forecast Model would be useful because it allows us to be proactive in preparing for the future instead of being passive and reacting to the changes as they happen. There are three steps: 1. Learn widely, 2. Think wildly and 3. Act wisely. Learn widely means to extend your knowledge beyond your own clinical role and area. Think wildly means to think outside of the box, dream big, and know that we are only limited by our imagination. Act wisely is bringing thoughts and/or ideas back down to reality and doing what is possible with the resources that is available (pg. 570). Conclusion Transformational leaders provide their followers with an inspiring mission and vision to give them an identity, rather than just working for self-gain. The followers are motivated and transformed through their leaders charisma, encouragement and individual consideration. These leaders encourage their followers to think of new and unique ways to challenge the status quo and to adjust the environment to support them being successful. References Blais, K. K., Hayes, J. S. (2011).Professional nursing practice: Concepts and perspectives (6th ed.) [Vital Source Bookshelf]. Retrieved from https://online.vitalsource.com Burns, J.M. (1978) Leadership, New York: Harper and Row. Yoder-Wise, P. (2015). Leading and Managing in Nursing. (6th ed.). United States: Elsevier Health Sciences.

Financial Manager Career Data Analysis Essay -- essays research papers

As the economy expands and employment opportunities increase, the need for workers with financial expertise will go up. I will enter the workforce at an excellent time to pursue a career as a financial manager. The information I have acquired concerning this field including opportunities, salary, and working conditions will justify my decision to obtain a position as a financial manager for a major corporation. The opportunities available to someone with a degree in finance are limited to only a few facets of the business world, but according to Job Outlook 2004, a finance degree is one of the top ten degrees in highest demand. Employers are starting to seek graduates with a master’s degree as well as a bachelor’s degree, which makes competition tough among applicants. Technology plays a major role in the financial world and applicants that possess strong computer skills will have a better chance of being hired in their desired field. In the Occupational Outlook Handbook, it says that financial managers must possess critical thinking skills and work well in a team environment. We are part of a global economy, which means that it is essential for applicants to have knowledge of international finance, and be willing to travel to other business markets around the world. In addition to business travel, financial managers are expected to work between 50-60 hours a week as an entry-level associate, and are required to attend office meetings. Up to date information is critical, th...

Problem Solving Essay -- essays research papers

Problem Solving   Ã‚  Ã‚  Ã‚  Ã‚  There are many different strategies that good problem solvers use to solve a problem. Before using a strategy, you must remember a few things. First, take your time. Few good problem solvers solve problems fast. Second, don't give up. You will never solve a problem if you don't try. Last, be flexible. If a first you don't succeed, try another way. And if the second way doesn't work, try a third way.   Ã‚  Ã‚  Ã‚  Ã‚  There are a few steps to solving a problem that you should follow. First, read the problem very carefully. Try to understand every word and make sure you know what the problem is asking. If you don't know the meaning of a word, look it up in a dictionary. Second, sort out information that is not needed. Third, devise a plan. Even guesses have to be planned out. Arrange information in tables, draw pictures, and compare the information to another problem you know of. Fourth, carry out the plan. Attempt to solve it and work with care. If the attempt doesn't work then go back and read the problem again. Last, check your work carefully. Don't check by repeating the problem, estimate or find another way to try and to solve the problem.   Ã‚  Ã‚  Ã‚  Ã‚  You can understand what the problem means yet still not be able to solve it immediately. One good way to help you solve the problem is to draw a picture. One example of this strategy is suppose you received a problem asking you how many diagonals a...

The Government

Governments should spend more money on education than on recreation and sports. Do you agree or disagree? Do you believe that government should focus on education rather than recreation? Education is a learning process for every citizen composing a nation . Perhap, a nation cannot produce a good citizen for giving full attention to education without recreation. I believe the children is our future, the pride of our nation, teach them well and give the way they must possess inside.The amount of education can give us a good medium to the success of our land for they will be a better man in next generation. Furthermore, an educated man can properly lead the country with full dignity and confidence to himself, thereby he can be able to protect the nation and lifts up the lives of the people. On the other hand, we can’t be on education alone but to give way to all the stress and be physically fitted by all means , we also need recreation to be fully motivated in all the task . Itâ €™s one way of releasing all the tensions and burnouts in anyhow.A physically fitted man learned to be having a good sense of ego. Recreations helps the family bonding more closer to each other, thereby , energize our mind speed. In conclusion, In order for a nation to provide a better citizen, the government should focus on giving proper education , in such a way that it will be balance with recreation. A nation will not be nation if the citizen itself were dull and weak. Therefore , for a nation to be successful , citizen should be competent and will generates a well trusted individual .