Thursday, December 5, 2019

Australian Corporate Acts Securities Law Case Study

Question: Describe about the Australian Corporate Acts for Securities Law Case Study. Answer: Case study Corporations and securities law case study NSX Limited vs. Pritchard FCA584 (22 May, 2009) NSX Ltd was requested by shareholders to call a general meeting to remove the existing directors and elect new directors. The shareholders commanded a 5% votes as required by the Corporations Act 2001. NSX informed the ASX of the directors intention. The directors must call a meeting within 21 days after a request. Members can only be allowed to conduct their meeting if this is not done as stipulated in section 249E. Surprisingly, on the 21st day, directors called a meeting and authorized a meeting to the ASX which in turn sent the notice of the meeting to the shareholders [1]. Instead the shareholders called their meeting and pursued their agenda of removing the directors. The federal court ruled in favor of the directors by specifying that the directors called a meeting before the elapsing of 21days time limit as stipulated in section 249E of the corporate law however there was no written notice. His honor out ruled the need of a receipt of notice though it is a necessity under sec tion 249D. This could be a significant consideration in evaluating whether the directors had complied with their duty to call a meeting on the deadline date after receiving shareholders request long enough. Could the directors have failed to call the meeting within the day limit of 21 days, shareholders would have won. ( Roles of Corporate Act Guides company formation process The Australian Corporate law serves as a legal entity created by legislation. The law therefore stipulates to private limited companies terms and conditions of their formation. For instance the law specifies ownership, profits, annual audits, and stake holders liabilities. Corporate governance Australian courts shape conducts and responsibilities of directors in private and public sector. Securities and Investment Commission keeps the executive team of the company under check through audit systems to enhance fairness and accountability on their administrative roles and assets management. Such a move helps companies to be consistence and survive within their jurisdiction through effective resource management plans and mobilization techniques (Australia O'Neill, 2013). Managers therefore are tasked with the responsibility to ensure their companies have functional financial and audit committees with independent directors to review internal accounting standards. Under this law, recommendations are made that the chief executive officer post should be distinguished from the chairs position for effective management. Further recommendations state that there should be more independent directors including the chairperson. Moreover, companies should have remuneration committee under an independent director[2]. The corporations Act 2001(section 184) demands directors to act in good faith and effectively use their position. Provisions of this act consider it an offense if the director is reckless or dishonest and fails to execute his duties in good faith in a proper manner. Directors, staff and other officers should therefore act fairly with no intensions of personal gain. Information should equally be truthful and used for the intended purpose (Clark, In Stuyck, In Terryn, 2015). Checks companies constitutions To enhance accountability and performance, Australia allows for removal of non-performing directors by majority rule. In public companies, CAP 2001(203D), demands that a two months notice be issued to the director and he or she should be given a hearing. Alternatively, the case is different on the private companies where removal follows a simpler procedure. For instance, in the case study, his honor was right since the 21days had not yet elapsed when the board called the meeting. Shareholders had a prior knowledge of the directors meeting but they choose to neglect it which was unconstitutionally contributing to their loss in the case presented (Elkington, Hall, Kell, Elkington, 2010). Safeguarding shareholders rights The Corporations Act safeguards shareholders rights by identifying their voting rights. Each stakeholder has one vote per share in the advent of a poll. The Australian Stock Exchange follows also recognizes shareholders position via their votes[3]. Directors must comply with shareholders demands of a meeting if members with 5% voting rights request a forum via writing specifying the resolutions they wish to pass. Ideally, members in a general meeting hold power to amend or alter the acting company constitution by a 75% vote. Members equally hold powers to contest against the directors pay. Basically, directors pay themselves and in some instances they could immerse companys resources for themselves until the Corporations Amendment law and the Corporate LAW Economic Reform Program Act of 2011 and 2004 was established by stakeholders to improve on accountability and remuneration (Law Society of Western Australia, 2012). Guides directors in performing their duties The Act foresees the loyalty and duty of care predispositions to ensure that directors act to the best interests of the organization. Australian directors as compared to other countries, create shareholder value as their primary obligations. The act ensures that the executive members avoid conflict of interests at all costs. Avoiding any potential harm to the organization is a key objective of the management. Therefore, directors who wish to take an opportunity in which the corporation may also have an interest must have a fully informed consent of the board lest the opportunity belongs to the company CA2001 (182-183). Further, any deal with huge transaction must be approved by members CA 2001(207-230). Proper oversight should be created by the directors to safeguard the position of the company therefore any default with regards to this provision is punishable. (www.australiansecurityandinvestmentcommisionvrich./ Shareholder litigation Shareholders are allowed to litigate over a breach of duty owed to the company to ensure that the best interests of the company are acted upon adequately. The court is also mandated to give a leave if need arises[4]. Takeovers Under the Corporations Act 2001, chapter 6, transactions control and restrictions apply to ensure companies do not become unfair monopolies as far as business and foreign investment is concerned. This section allows for employee protection and industrial protection under the legislations of the state. Unfair dismissals are legitimated as well and proper compensation is equally achieved (Solomon Solomon, 2004). Other Laws that Guard Companies ASIC Act 2001 The Australian Security and Investments Commission and Consumer protection Act ensure that consumers and companies are protected against any financial loss. Basically this body provides security in investments to ensure financial services of companies are met proficiently. ASIC also establishes corporations and markets advisory to experts for a healthy business environment (Victoria, 2012). ASIC commission has been involved in a series of cases with regards to breach of duties. For example, in March 2006, the federal court filed a case against Fortescue Metal group Ltd. and the CEO; a substantial shareholder of the company for breaching a contract with the Chinese Corporation by giving misleading announcement. The terms however were uncertain and dismissed by Justice Gilmour on defense that they allegations were not worthy a legal enforcement. Claims included; Fortescue deceived its conduct by breaching requirements of section 674 of the Corporation Act 2001. The CEO also infringed s ection 180(1) of the Act by discharging his duty with less diligence. Insurance contract Act 1984 The Act handles reforms relating to contract of insurance to strike a balance between insurers, the insured and the public interests (Turner, 2009). This law is solely concerned with terms of agreement between parties to ensure fairness is achieved at all levels and conflicts are minimized. For instance, in July, 2013, Richard Swansson successfully sued his adviser Rusell Harrison for non-disclosure of Swanssons material facts concerning his health that left him uninsured. Section 29(3) of the Insurance Act allows an insurer to terminate contract of life insurance due to breach of duty in disclosure of information before the contact after a period not more than 3years has elapsed. ( Wrongs Act 1958 This law was enacted by Queens Excellent Majesty following the advice and the consent of the legislative council and the assembly of Victoria by the current parliament. The law addresses negligence caused while on call yet with prior knowledge of the risks involved. It holds the neglectors responsible for compensation. For instancecs, in May 2016, the high court held Dr. Kam responsible for medical negligence involving failure to warn Mr. Wallace against the risks involved in the operation. Ideally, Mr. Wallace would have rejected the medication procedure prescribed by Dr. Kam could he have been informed of the risks that caused him neurapraxia. ( ). Competion and Consumer Act 2010 The Act relates to fair competition, trading, and consumer protection. Competition under this act is defined as a practice of businesses sharing similar markets. It therefore demands that companies should be honest in their pursuit of winning the market share by using right promotional campaign strategies. Consumers are protected against unfair measures of scale such as quality, quantity, price, and other standards defining user protection for example ingredients amongst others (Farrar, 2001). In August 2005-May 2008, Crafmatic Company was reported to have been using tricks to lure older persons into agreement with home presentation of their sales representative. The sales person would convince the consumer to buy the companies beds at $10,000 higher than the normal price. The federal court having the knowledge about this, ordered a seven years injunctions restraining the company. Those who had purchased the beds equally recorded their complaints for compensation. Customers were equa lly issued with details of their rights. Workplace injury rehabilitation and compensation Act 2013 The law stresses on the need of government commitment to reduce regulatory burden with regards to workers compensation. It facilitates easier understanding of workplace rights, responsibilities and obligations between employers and the employees (Guthrie, 1995). WIRC ensures compensation in terms of benefits and premiums is well calculated depending on the extent of the injury suffered while call[5]. In 2009 October, NSW injured workers were compensated a lump-sum payment to cater for their needs due to sustained injuries for their upkeep. ( Accident compensation Act 1985 Established by Accident Compensation Commission to constitute an accident tribunal to establish the Victorian accident Council to compensate, impose levy, remit payments, asses and collect levy with respect to accident compensation. The council offered provisions for amendment of the Workers Compensation Act 1958, the pay-roll system, Tax Act 1971, Motor Accidents Act 1973, Motor Car Act 1958, and other Acts related to accident. Magistrate S. Garnett in a court ruling in May 27th and 28th, 2015 applied this Act to dismiss claims that the medical panel refused termination of weekly payments yet 130weeks had passed since James sustained the back and neck injuries in 2009 in a motor accident. It was substantiated that James was no longer incapacitated due to injuries. It was equally established that the information from the doctor was inaccurate therefore case dismissed. ( Workers compensation Act 1958 This consolidates compensation of workers for sustained injuries during their work. Injuries may be manifested in various forms such as psychological torture, mental problem, and physical injuries amongst others. However, indicators are put in place to establish the cause of the injury whether it was due to workers carelessness, companys mistakes or unpredicted accidents such as earthquakes . Therefore companies and workers should take precautionary measures while on duty to avoid injuries at whatever costs. For example in an industrial company dealing with manufacturing, the helmet law applies to safeguard workers against head injuries (Clarke, Elliott, Mehmet, Law Vision, Australian Multimedia Training Productions, 2012). For instance, in F and Fleet master Services Pty Ltd, January 25th 2013, an injured worker who refused to go on a compulsory rehabilitation was suspended. The tribunal found no excuse for his failure. His claims on task suitability were rejected since workers are expected to diversify their skills. ( Occupational health and safety Act 2004 This Act safeguards employees health, safety, and welfare. Under this Act, the company is mandated with a task of ensuring its staff works in a conducive environment with less risk such as attacks, pollution effects, and others (Edwards, Halligan, Horrigan, 2012). Conducive environment is measured in terms of how much it contributes to workers motivation and job satisfaction visa vices the services offered[6]. As a way of creating a workable environmental plan, the management bases on staff-work relations to build corporation and limit conflicts at all costs (Belcher, 2014). Indicators of cases in manslaughter, occupational safety, and criminal liability were reinforced by the court to enhance a staff inclusive environment. ( Equipment Act 1994 Public safety is paramount in any production setting. The Act therefore advocates for proper selection of machinery and equipment to avoid harm to individuals, plantation, animals and other species within the companys reach. For instance, manufacturing companies are required by law to ensure they safeguard the environment of its staff and surrounding communities by using machines that control noise, and smoke emissions, waste disposal amongst others (Holt, 2008). The supply chain material programs are used to enhance better equipment in Victoria to support efficient working environment. ( Patents Act 1990 The Act is purely concerned with effective use of innovative technology for example use of internet should be regulated by the company to avoid much health related issues and stained relationships amongst staff members due to overdependence on innovation. Any innovation should meet the needs of customers and be within the business laws. Copyright Act 1968 The Act patently protects companies and other business entities against replicating products and services from their counterparts. Originality and creativity is highly advocated via entrepreneurial skills and innovative ideas are supported via extensive research and use of new technology for production purposes. For instance, the Russian Elcomsoft software company developed and sold via internet advanced eBook Processor which enables the user to disable publishers restrictions on electronic books. This could allow publication and distribution unflinching copyright Act. Arguments of fair use were claimed by Elcomsoft Company leaving US with no charges against the company since it was an innovative idea.( Designs Act 2003 Designs Act aims at individual artistic works. Basically, some products are forbidden from emulating without the owners permission. Design in relation to products includes the overall appearance of the product and visual features. Using registered designs without the permission of the owner is infringement therefore punishable by law. Trustee Act 1958 Trustee Act bases on the discharge of mortgage by the companys management. Trustees are delegated with powers to sale, confer, or lease the property. The corporation Act 2011(53) specifies that public trustee of a state or a territory should identify beneficiaries under the trust, their rights, and any payments they are entitled to (Reynolds, 2001). For instance, in 18th November 2010, ANZ trustee wished to transfer the title of a building from one trustee to another. His honor used section 63 of the Trust Act 1958, with reference to Ballard v Attorney Generas Case that was ruled on the basis of qualification of trustees with regards to the voting power, the quorum, and procedures. A similar case had been witnessed between the Victorian Fund and the Queensland Fund as common trustees of Sir William's will. Trade marks Act 1995 Trade mark is used to distinguish goods or services provided by persons or companies. The Australian laws forbid some signs from being used as trademarks. The registered owner of a trademark is subject to ownership of the trademark and is free to sale it to other parties. The trademark board affirmed the appeal against registration of herbal access terming it as a way of increasing substance abuse such as marijuana. ( Human tissue Act 1982 An in-depth definition of this Act is that it deals with human tissues which are most vulnerable for human living. The law does allow for donation in cases where one is stricken by sickness or accident leading to the default of the tissue or body organ. Human tissues can be used for schools in anatomy and practical lessons in the field of medicine however they are traders are not permitted to sale human tissues since it exposes human beings to risks of abduction. Equally, advertisement restrictions apply for instance in CAP1982 (40) which sates that a person shall not publish or disseminate tissues via any media, exhibit public view, or deposit tissues for sale. Schools are only allowed to use tissues in the event of death of a person. The law thereby defines death as irreversible cessation of circulation of blood in the body of a person and cessation of functioning of the brain. It is until then that tissues can be used for study[7]. /Review%20Group%20on% 20ROPM%20Report.pdf. Environment Protection Council Act Australian laws calls for companies to ensure that waste is controlled effectively. The Act demands that companies should identify disposal areas, transport waste effectively, and handle it in a way that it is consistent with environmental sound practices. The packaging material should reduce environmental degradation. Ideally, reuse and recycling of used packaging materials is highly advised. Australias international obligations protect human health and the environment (Australia Butterworths (Firm), 2001). The National waste policy offers four major directions which are responsibility, improving market, pursuing sustainability, and reducing hazard. Powercor Australia Ltd and Vemco Pty Ltd committed to spend $200,000 for rehabilitation of cleared vegetation following a court order presented in June 1st, 2015. ( Partnership Act 1963 This Act defines partnership as an agreement between parties to carry on a business. Majorly, the joint venture is meant to create a common goal of generating profit. Australian partnership is based on elements such as joint ownership, participating in gross returns, profit and loss sharing, and exercising partnership rights[8]. Wolfe end Golden Egg PTY Ltds disagreement on revenue were presented in a court to create a professional responsibility between the two partnerships. This depicts the need of limited audit and taxation for workable partnership. ( References Australia, Butterworths (Firm). (2001). Butterworths Australian corporations legislation: Corporations law, corporations regulations, ASIC Act and regulations, Corporations Act, Corporations ([State]) Act, other legislation. Sydney, N: Butterworths. Retrieved from: Australia, O'Neill,D. (2013). Report on the 2011-12 annual reports of bodies established under the ASIC Act. Canberra: Commonwealth of Australia. Retrieved from: Belcher,A. (2014). Directors' decisions and the law: Promoting success. Retrieved from:'+decisions+and+the+law%3A+Promoting+success Clark,E.E., In Stuyck,J., In Terryn,E. (2015). Commercial and economic law in Australia. Retrieved from: Clarke,T., Elliott,A., Mehmet,I., Law Vision, Australian Multimedia Training Productions. (2012). Corporate governance. Australia: Law Vision. Retrieved from: Edwards,M., Halligan,J., Horrigan,B. (2012). Public Sector Governance in Australia. Canberra: ANU Press. Retrieved from: Elkington,B., Hall,M., Kell,D., Elkington,B. (2010). Annotated Trade Marks Act 1995. Chatswood, N.S.W: LexisNexis Butterworths. Retrieved from: Farrar,J.H. (2001). Corporate governance in Australia and New Zealand. South Melbourne, Vic: Oxford University Press. Retrieved from: Guthrie,R. (1995). Workers compensation Western Australia. Sydney: Butterworths. Retrieved from: Holt,M.F. (2008). The Sarbanes-Oxley Act: Costs, benefits and business impact. Amsterdam: CIMA. Retrieved from: Law Society of Western Australia. (2012). Directors' duties and corporate governance in turbulent times. Retrieved from: Reynolds,M. (2001). The Corporations Law Amendment (Employee Entitlements) Act 2000 (Cth): To What Extent Will it Save Employee Entitlements? QUT Law Review, 1(1). doi:10.5204/qutlr.v1i1.66 Solomon,J., Solomon,A. (2004). Corporate governance and accountability. New York: John Wiley. Turner,C. (2009). Corporate Governance Post-Companies Act 2006, Part 2. Corporate Governance, 73-103. doi:10.1016/b978-0-7506-8382-1.10004-3 Victoria. (2012). Inquiry into organ donation in Victoria: Report - March 2012. Melbourne: Victorian Government Printer. Retrieved from: www.australiansecurityandinvestmentcommisionvrich./

Thursday, November 28, 2019

History Repeats Itself free essay sample

The British government system, The Indian Civil Service, excluded Indians from positions rendering them without say in their own government. Additionally, the British passed many laws including the prohibiting the making of salt and purchase of only British cloth. Indians were forced to pay tax on common foods such as grain and salt. Mahatma Gandhi created a sense of nationalism or patriotism, and formed the â€Å"Quit India† campaign. Using civil disobedience, purposely defying an unjust law, and non-violent resistance, peaceful tactics, such as fasting. Nelson Mandela similarly led Africa to its freedom from apartheid created by the National Party. The apartheid divided and separated the Africans into four categories: White, Black, Colored, and Asian. Analogous to the Indian Civil Service the National Party striped all races except whites of their say in government such as voting rights and positions in political offices. Non whites were additionally taxed like the Indians and paid more than Whites. We will write a custom essay sample on History Repeats Itself or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Laws were imposed on the Africans similar to the Indians which restricted marriage, ownership of land, and business. Nelson Mandela achieved independence by becoming a radical member of the African National Congress which originally held peaceful protests like Gandhi, but transitioned into violence with gained Africa’s freedom. Because of Mandela’s crucial role in African independence he was elected president of South Africa. Jefferson uniformly to Gandhi and Mandela gained independence for America from Britain’s abusive leadership. Under British rule the colonies were also deprived of representation in government. Like India and Africa, laws were imposed on the colonies such as the Intolerable Acts which stripped the colonies of rights and freedom. Also identical to India and Africa were taxes inflicted on the colonies such as the stamp act, which required tax on all legal documents and the taxing of tea. Thomas Jefferson like Mandela joined a group set on freedom, the Continental Congress committee. Jefferson largest contribution was writing the Declaration of Independence which finalized the separation from Britain. Each of these influential leaders similarly led their country to independence. Each event in history holds undeniable correspondence. As each leader endured unrepresentative government, tax and laws they gained independence. Although rulers, languages, and cultures change through the years, history always returns to a repetitive tendency. Gandhi, Mandela, and Jefferson all analogously led their countries to independence showing a redundant fashion.

Monday, November 25, 2019

Strategic Management on Honda Motors Essay Example

Strategic Management on Honda Motors Essay Example Strategic Management on Honda Motors Essay Strategic Management on Honda Motors Essay Off-Campus Executive Summary The key to a firm’s success is its fit between the organization and its environment. We study Porter’s Five Forces and Porter’s Value Chain activities for Honda’s strategic planners to analyse the organisation’s role in itself and how it copes with the environment. The strategic planner’s role is to forecast and direct the organisation into future strategies. Honda’s market positioning faces many challenges for example, the company’s core competencies in engine design and its engineers’ pursuit of technological mastery are not in accordance with market demand. onda’s positioning is not moving beyond the conservative Civic and Accord models, despite attempts to come up with other innovative cars. How the global automobile industry configures its activities across borders is largely dependent on how it deals with the opposite demands of global integration of activities and handles deman d for local responsiveness. Prof. Whittington’s Classical and Processual Schools of Thought identifies with how differently strategies are developed. On one hand, strategic managers would like to forecast the future and to orchestrate plans to prepare for it. On the other hand, experimentation, learning and flexibility are required to deal with unexpected future events. The two model are applied on Honda Motors and we analyse which one is more suitable for Honda Motors. Global strategic management is conducted by managers all over the world. Its success depends on clear communication and understanding between them. The cultural dimensions are discussed from five aspects. They are power distance, individualism, masculinity, uncertainty avoidance and long term/short term orientation. In the systemic perspective, the international strategic manager at Honda Motors will take into account the cultural dimension in building productive relationships. Table of Contents Individual Assignment Case Study – Reconciling Managerial Dichotomies @ Honda Motors in De Wit Meyer (2004:671) â€Å"Structural transformation through E-Business† Module Leader: Dr. Augustus Osseo-Asare Submission Date: Monday, 10th January 2011 Word Count: 3,000 words SIM336 Strategic Management Sunderland Business School

Thursday, November 21, 2019

Realism in the play Mulatto written by Langston Hughes Essay

Realism in the play Mulatto written by Langston Hughes - Essay Example The realness of this protagonist comes from the fact that he resembles or represents a real person who exists, or had existed, in certain historical time and place. The representation of the protagonist in the physical world makes Robert, at certain level, a real person. The realness of the protagonist is made possible by the human reader him- or herself; Robert becomes alive within the mental frame of the reader. Upon â€Å"seeing† Robert’s character in the play, the sensible reader is able to grasp the resemblance or representation of this protagonist to the real world. Evidently, the real world that the reader perceives is a material and/or perceptual realm in which he or she possesses based from an aspect or element of knowledge. In lieu to the Mulatto play, the knowledge that is at work here is a historical one: racism in the early 20th-century South. Second, the Mulatto playwright uses real place-and-time continuum in narrating the drama’s reality. Mentioni ng the names Georgia and Eleanor Roosevelt suggests a particular geography and historical time-period in which the narrative takes place. Georgia, for one thing, is one of the States in America, which is located in its Southern region. Historically speaking, Georgia was a state that politically belonged to or supported the Confederate Government. And one of the objectives of the Confederate States was the maintenance or preservation of black slavery within its geopolitical domain. In the narrative, Hughes portrays the existence and persistence of slavery in the South through the symbolism or representation of Colonel Thomas Norwood, a slave owner from Georgia. The realness of the play comes from, among other elements, the spatial context of the narrative. Moreover, the name Eleanor Roosevelt is a very familiar name especially to the Americans, both North and South. She is well known for her civil-rights activities, particularly that which relates to women’s rights. Mrs. Roose velt is a historical figure who lived beyond the literary text. And the mere mention of her name in the Mulatto evokes the near reality of the drama: early 20th century. Third, Hughes employs dialogue that is ordinary or â€Å"real life† conversation. For instance, the phonology or textual character marked in the play sounds like real Southerners, especially the black people. The way the characters utter a word or two sounds like the speech prominent in the black community. In addition, the ideas or meanings contained in their utterances or dialogue are very similar to the context of everyday conversation. By and large, the Mulatto play written by Hughes utilizes, in an effective manner, realism as a literary device via the representations of its real characters, setting, and

Wednesday, November 20, 2019

Introduction Essay Example | Topics and Well Written Essays - 750 words

Introduction - Essay Example It contains the case studies that I have done. The case studies are the students approach to how they would with certain healthcare situations that do arise all the time. I have done five case studies that have been graded with an excellent score. Along with the case studies are the articles that I summarized along with the summaries. I have again gotten perfect scores on the summaries, which is something that I am very proud of. Then I have listed five scientific journals that are in the subject of health science. They were useful to me over the past five years. Last but not least I have used my upper division Health Science projects where I indicated what my responsibilities for each of them were. The second section is the career section where I have indicated what where my career goals and where I want to go in future. I have included a job ad for public health educator in Forsyth County, North Carolina. I have used my cover letter as well as my resume that has been tailored to the field of Public Health and Safety. Also I included my personal essay which goes into what factors made a difference in my academic career. As you read my essay, one can almost say that I am heavily influenced by my parents. Hopefully one can also read how determined I was. The third section is system analysis. In this section, students were asked to use an organizational chart. I used a chart for a government agency that I may consider working for in the future. The agency that I choose is the San Francisco Department of Health (SFDPH).This chart lists the current positions in the field as well as their hierarchy. The vacant places are indicated as well. The fourth section is the papers. The first of the papers is the legacy role. The legacy role really examines the student’s perspective on how the overall Health Science coursework has impacted them. For me, I have chosen to pick the positive and the negative of each spectrum.Overall; I stated that I made the right

Monday, November 18, 2019

Abortions Essay Example | Topics and Well Written Essays - 500 words

Abortions - Essay Example These views have been termed as â€Å"pro-life† and â€Å"pro-choice†. Those who are against the abortion believe that there is something needs to be done to preserve life. They believe that the government has a duty of preserving all human life (Pro-choice Action Network 1). This view is typically held by the mainstream churches such as the Roman Catholic Church. On the other hand, those who support abortion believe that a person has a right to their own productive means (Pro-choice Action Network 1). People not affiliated to mainstream churches usually hold this view. These have been described as pro-choice. These people believe that all choices must remain valid. The stands have generated a serious conflict on the issue of abortion. Such believe on the issue of abortion are rooted on science and religion. Therefore, any view tries to prove its stance on the issue of abortion. A reflection on abortion helps in understanding pro-choice and pro-life position. There is d ifferent postmodern worldview based on pro-choice position on the issue of abortion. These views have been in support of abortion and have come to be known as prochoice. The worldview has made it possible for abortion to be viewed as a simple thing. In fact, most of the people in favor of abortion believes that abortion is as easy as taking of pill.

Friday, November 15, 2019

Impact of Globalization on Ford Motor Company

Impact of Globalization on Ford Motor Company The motor vehicle industry offers a unique perspective on globalization because of its massive employment, huge corporations and iconic product, it seem to reflect the countries identity. GM and FORD for the united states, FIAT and Ferrari for the Italy, Toyota and Honda for Japan. Globalization has impacted almost all the companies. Some of who managed to survive the various incidences of history like the world war and the great depression have set industry standards for the companies to follow. I am going to demonstrate the effect of globalization by taking Three instances from the Ford motor company. The following essay will try to give an insight of how political, economical, social and technological factors affected Fords strategies under the changing business environment that helped it stand out from the other rival car manufacturers in the world. Ford created some of the finest works of automobile engineering and came out with various eco-friendly innovations making it the only motor company to secure its place in the list of 100 most ethical companies of the world. About the company: Henry Ford had experienced a grand success especially with the early models like the T Model . he went on explained his business overseas and by the early 1910s, with production facilities in France, Denmark and England ,Germany and Austria. After the First World War started, Ford produced half of the cars being sold in the US. During the war, Ford produced many of its cars to serve the army. 1938: The German consul at Cleveland awards Henry Ford the Grand Cross of the German Eagle, the highest medal Nazi Germany could bestow on a foreigner By 1941, Ford became the worlds largest assembly plant owner and Ford produced from standard military vehicles, to B-24 Liberator bombers and tanks during the World War II After the WWII, was the period when Ford company developed and evolved very fast. Ford came out with latest technologies and development for their cars. During the Cold War they were the most important carmakers in the world. It was during period that the Ford Motor Company looked for other possible investments and continued to expand overseas. In 1979 they acquired a one fourth Mazda, the Japanese carmaker in 1987. Ford added Aston Martin and in 1989 Ford acquired Jaguar under its umbrella brand. Ford Motor Company onits 100th birthday in 2003 and showcased a series of special edition of cars, such as the all new Ford Mustang. Ford faced financial crisis when it reported losses of over $12 billion for the 2006 fiscal year .It led to the selling of some of the brands from the Ford group: Aston Martin, Jaguar and Land Rover. After the third Restructuring process The Way Forward, Ford started to Divest its subsidiary business in order to focus on the core FORD brand. It sold its Jaguar and Land Rover brand to Tata Automobile of India in 2008. Major events that shaped FORD in the changing global environment: 1914: Ford introduced $5 workday minimum wage double the existing rate. Background: In 1914 ford innovated the 5 dollar workday. 5 dollar was just twice the wages being paid at that time. The interesting thing about this was it was far more than the balance between demand and supply. The number of worker willing to work exceeded the required. The ford company came to be associated with good wages in 1914. This policy of high wages and mass production gave rise to a new term Fordism . Factors affecting decision: (P)olitical: Henry Ford was a strict anti-union, and believed in authoritative way of government system. (E)conomical: In the 1913 the availability of labors must have increased as the national economy and Detroit hinterland suffered a significant downturn. This is evident from the following table 1 which shows the number of people receiving the special unemployment relief in the country including Detroit increased about two third between the period of July 1912 June 1913 Fords high wage policy is in by the efficient wage theory. There are various theories for these changes like the Dual labour market theory. Although the same efficient wage theory also says the in a competitive market some people must be stuck in bad, low paid jobs or unemployed (Gintis, 1998). The alternative to the Fords offer of 5 dollar wage was unemployment or very low paid job hence can be the reason why workers showed up. (S)ocial: In 1913 Fords worker turnover rate increased to 380 percentage. High turnover rate during the twentieth century was a common problem faced by many manufacturers. The reason for dissatisfaction of labours according to ford management repost Too long hours Low wages Bad housing conditions Undesirable shop conditions . Fords method of 5 dollar wage made workers motivated, punctual. This although should have been a costly affair turned out to be profitable step for the business. The higher the wage rate offered by firms, the more effort will be supplied by the employees, with other things being the same (T)echnological: Dramatic evolution in production technology by Fords assembly line technique. The high efficiently of this system raised the importance of High worker turn over, high worker effort, and high worker quality. By 1910 two third of the fords workforce were either workmen or mechanics who were over rated as highly skilled or skilled this was because ford was not a manufacturing company rather assembling company. This problem was suppressed by 1996: Ford certifies all plants in 26 countries to ISO 9000 quality and ISO 14001 environmental standards Background: World War II gave birth to the idea of quality assurance. The first formal quality control programs in the world was instituted by the United States Defense department , in order to deal problems related to manufacturing of defense equipment as quality was the main consideration. Industry standards then became popular and reached the other parts of the world. They formed the basis for a set of quality assurance standards which was adopted by the North Atlantic Treaty Organization (NATO) members . Those standards were called the Allied Quality Assurance Publication (AQAP) ( Finally at the close of World War II, the International Organization for Standardization (ISO) was created in 1947, with headquarters in Geneva, Switzerland. ISO 9000 ISO 14001: In December 1996, Ford became the largest automotive organization in the world to receive ISO 9001 quality certification, for quality management and quality assurance. On Sept. 9, 1999, Ford Motor Co. became the first U.S. automotive company to require all of its production and nonproduction suppliers to become certified to ISO 14001 international standards for environmental considerations. Factors affecting decision: (P)olitical: Governments may have actively promoted ISO 14001 if their economies relied on exporting to countries with high levels of ISO 14001 adoption rates .United States formed the Registrar Accreditation Board (RAB) to standardize procedure for certification. The US Congress adopted the National Technology Transfer and Advancement Act requiring federal agencies to adopt International Standards where they exist, instead of creating their own. Intergovernmental networks played limited role in diffusion of ISO as it was nongovernmental regime. Adversarial legalism approach was practiced in the U.S . In this system, the parties to a controversy develop and present their arguments, gather and submit evidence, call and question witnesses, and, within the confines of certain rules, control the process. The fact finder, usually a judge or jury, remains neutral and passive throughout the proceeding. This was slow and cumbersome. Relations between environmental groups, government regulators and industry were characterized by varying levels of hostility and high levels of mistrust. (E)conomic: International standards were important trends in business practice. During the Early 20th century, quality was viewed as an additional cost of production for the business. But, the quest for quality became their major consideration, as companies realized that high quality leads to more efficient and less expensive production processes. Both ISO 9000 and ISO 14001 helped companies to increase their market share. Encouragement by World Trade Organization for creation of supranational standards helped cut down barriers on trade and investment. As a consequence of which Foreign Direct Investment from international Market started pouring in. Changes were also happening at domestic levels which led to Rise in intercompany (trade within value the value chains of the company) trade Because of presence of dual trade linkage there might be a Possibility of California effect which means that if country A absorbs a significant proportion of country Bs exports, then country B can be expected to mimic or respond to the policies of country A (S)ociological: Employee morale improved as they felt part of the process. Managers and employees accepted responsibility for quality. This created better co-operation and communication among workers to do a better job and increased companies efficiency. This in turn led to improved customer satisfaction and trust. It helped reduce the need for customer audits (This can result in major savings). However, many citizen and activist groups were wary of EMS standards and viewed them as private regimes that were outside public scrutiny and claimed that adopting ISO 14001 will become a de facto condition of doing business: firms that outsource their operations sometimes require that their suppliers adopt ISO 14001. (T)echnological: Development of pollution-prevention techniques and company-specific EMSs to reduce waste production as well as disposal costs .Presence of new form of Information and technology and greater interaction among people of different countries led to the diffusion. Ford was perceived as good corporate citizens producing higher quality products. Hence, they gained goodwill that helped retain old customers while attract new ones. (L)egal: There was NO legal implication were there on the companies to adopt such standard but since EMS had become a gold standard for CSR conscious firms therefore most of the MNCs adopted them. (E)nvironmental: In the 1980s, environmental regulations on hazardous waste disposal at both the local and national levels became more stringent. This forced companies to change their method for hazardous waste disposal from placement in landfills to treatment and recycling. 2008: Ford sells Jaguar and Land Rover to Tata Motors: Background: After facing a loss of North American market share to Asian rivals like Toyota, Ford CEO Bill Ford declared to cut 25,000 to 30,000 jobs and idle 14 facilities by 2012 thus declaring the resurgence of Ford Motor company.. Bill Ford had instituted a Revitalization Plan in 2002, after the automaker lost $5 billion a year earlier. But the plan failed to meet the goals set for 2005. Later in 2006 the new CEO Allan R. Mulally announced the Third restructuring plan known as The Way Forward. The targeted areas of improvement were marketing and sales, Technology development and Human resource. Factors affecting decision: (P)olitical: Allan R. Mulally succeeded Bill Ford as the new president CEO of Ford Motor Company on September 5, 2006. on September 5, 2006. One of Mulallys first decisions at Ford was to bring back the Taurus nameplate. (E)conomical: Ford reported a loss of 1.2 Billion Dollar with a decrease in the market share from 23.7% to 15.5% since the year 2000.It faced tough competition from Asian manufacturer such as Toyota which had manufacturing capacity of over 1.5 million vehicles in North America alone. High prices of oil posed a threat that global economy might slip into recession and would create high uncertainty for the business as customers were switching over from sport utility vehicles to smaller, more fuel efficient cars. Because of high increase in labour and material costs, United States parts manufacturing company like Delphi declared bankruptcy in 2005. Ford did not want to sell its jaguar and land rover brand to similar automaker company which had wide range of product in order to avoid competitive pressures on fords other auto lines. (S)ocial: Stringent relationship between united auto workers and American car maker as the domestic car manufacturers bore the burden of heavy pension and health care costs. This was the scenario for both for current and retired workers, as stipulated in contracts with the UAW. This was not the case with Japanese manufacturers. UAW member at fords allowed non union workers to perform certain tasks and did not pay them even for overtime some of which fell on weekends and furthermore 6000 salaried jobs were cut in September, 2006 and additional 30,000 jobs scheduled for 2012. Customer purchases are driven by perceived value derived from brand reputation and an individuals personality and living standards, lack of differentiation between Ford, Lincoln and mercury brands resulted in cannibalization of sales. (T)echnological: U.S governments new rule in august, 2005 brought a change in the existing fuel efficiency standards. Though ford lacked innovation in mid sized and small cars it projected that by 2015 one half of the vehicles on road would have a six speed automatic transmission, which would result in increased mileage. (E)nvironmental: Pressure from environmentalist on car and truck manufacturers to clean up emissions by adopting to fuels like bio diesel, electric motors, compressed natural gas and solar energy. How globalization  impacted FORD: We see from the examples globalization effected fords strategies from the time it was setup till date. They were able to maintain their competitive advantage over the other companies either by innovating new technologies likes the assembly lines, approaching to new International standards or by focusing on the core Ford brand. By adapting such processes, FORD motor company contributed toward Corporate social responsibility and created remote social value in the eyes of the customers. Although there is some probability of window dressing and a quest for better profits. These can be understood by strategic behavior theories like market imperfections (Stephen Hymer (market imperfections, 1960s) and role of oligopolies (Market Imperfections, 1960s). Which explain that MNCs expand abroad ,exploit specific advantages over their rivals and remove conflicts with their rivals. (IBE, Lecture 8, slide 33) The Ford company explored new horizons of business across cross border market either by value crating or value capturing activities (lecture 6 slide 31). Expanding overseas specially towards emerging economies may not only increase corporate profits and shareholders returns but also provide employment to host countries and develop these economies at the base of the pyramid all of which have noble CSR dimensions. Ford quickly merged and acquired some of the big brand under its umbrella and came out come with some best of the cars leaving a long lasting impression on the consumers. Despite of debate, Globalization has led to a greener and safer environment where MNCs are under continuous process of giving their consumer even better products and creating flagship cars.