Cause and Effect of Corruption - 1644 Words

There is a growing worldwide concern over corruption at the present time. Several factors are responsible for this. A consensus has now been reached that corruption is universal. It exists in all countries, both developed and developing, in the public and private sectors, as well as in non-profit and charitable organizations. Allegations and charges of corruption now play a more central role in politics than at any other time. Governments have fallen, careers of world renowned public figures ruined, and reputations of well-respected organizations and business firms badly tarnished on account of it. The international mass media feeds on it and scandals and improper conduct, especially of those in high places. The rising trend in the use of†¦show more content†¦Thus, price controls, subsidies and the corruption and black markets they generate, can lead to undesirable social and economic consequences. This also illustrates the point that dismantling controls, getting rid of sub sidies and preventing price distortions form a key element in economic reforms and for the establishment of a properly functioning market economy. Unfortunately, corruption places severe constraints on a country’s capacity to undertake economic reforms. The rich and the powerful, the main gainers of a corrupt system, will therefore oppose reforms. The leadership in a country has a key role to play in combating corruption. It is an Asian tradition to hold leaders and those in authority in high regard and esteem. Hence the top leadership must set a good example with respect to honesty, integrity and capacity for hard work. Since fighting corruption will involve taking difficult decisions, the leadership must also display firmness, political will and commitment to carry out the required reforms. Honest and dedicated leaders are an essential, but not a sufficient, condition to counter corruption. Several other conditions are needed as well. Credibility is one of them. For success, the offenders both on the demand and supply side of a corrupt deal must be convinced that the government is serious about fighting corruption. Publicly try and punish some well-known corruptShow MoreRelatedEffect Of Noble Cause Corruption Essay1159 Words   |  5 PagesImpact of Noble-Cause Corruption Ethical decision making will have the propensity to suffer with positive results garnered by acts of noble cause corruption. Getting a sense of accomplishment through corrupt means will make an individual more likely to take shortcuts during future events. Law enforcement professionals will be more likely to go to greater extents to get the bad guy off the street. This can be dangerous to all individuals involved. It can leave the officer open to administrativeRead MoreThe Law Enforcement System And The Criminal Justice System Essay1657 Words   |  7 Pagesconduct follow up investigations if needed.† In addition, in this essay I will be discussing about, the cause and effect of how the law enforcement system relates to unethical behavior, to police subcultures, and finally, corruption prevention programs. First of allUnethical behavior relates to the Law enforcement system, since according to Martin ( 2011), he states that Research into police corruption offers some understanding of the phenomenon in the hope of rooting out this behavior that serves toRead MoreCorruption Is A Universal One1431 Words   |  6 PagesThe problem with corruption is a universal one, but this challenge is particularly egregious in new and developing democracies. Brazil’s troubles with corruption stem from far before democratization in the 1980s. From the military takeover and the rule of the bureaucratic authoritarian regime to the present day, this nation has struggled with nepotism, clientism, and favoritism as well as a slew of other corrupt practices. The state, federal, and municipal levels of government have all been plaguedRead MoreCorruption And Its Effects On Society1551 Words   |  7 PagesCorruption is globally regarded to be one of the most immoral and ethically wrong practices in the political realm. There is a reason as to why corruption has such a strong negative connotation associated with it, as impacts caused by its direct and indirect effects on society cause massive consequences. The very nature of corruption undermines almost all processes and goals set fourth by a liberal democracy, while causing high distrust and low public approval between officials and citizens. TheRead MoreAdministrative Corruption Is Now A Buzzword For The Current Era Essay1360 Words   |  6 PagesAdministrative corruption is now a buzzword for the current era. It differs from country to country as it’s effects are varying on the basis of socio ­economic and political structure and the proportion of a nation’s growth. It makes a public or, private organisation untrustworthy and increase nullification negligence and in society. Corruption has been the problem belonging ever since from the human civilisation.Corruption is not a new phenomenon Bangladesh. It got heavily engaged with the administrativeRead MoreCorruption And Corruption Of The Public Sector1530 Words   |  7 PagesBribery and corruption in the public sector, is endemic and unavoidable in all societies 1 The supportive reasons of unavoidable bribery and corruption Bribery and corruption in the public sector have been investigated by government for many years, while such hidden bribery and corruption are the behaviour that members working in the public sector indiscriminately take actions. Bribery and corruption are due to members’ heart swell and unsound personality so as to break the public welfare natureRead MoreImplementation of Good Governance in Pakistan1095 Words   |  5 PagesStrategic vision STATE OF GOVERNANCE IN PAKISTAN 1. Institutional Imbalance 2. Poor relations between center and federating units 3. Political Instability 4. Poor planning and development 5. Inability to provide justice 6. Increasing rate of Corruption 7. Inefficient Economic Management 8. Expenditure Mismanagement 9. Poverty 10. Unemployment 11. Illiteracy 12. Lack of control over law and order situation 13. National Sovereignty of Pakistan is being affected 14. Terrorism 15. StrongRead MoreCorruption1154 Words   |  5 PagesEffects of Corruption in Multinational Corporation’s [Student name] [Professor’s name] [Course title] [Date] Introduction Corruption can be defined as a spiritual or moral deviation from an ideal. Corruption come in different styles and that include bribery and funds embezzlement. Corruption has been the number one menace in many countries of the world. It impacts countries in many ways, impacting economy and development in a negative way. Corruption tends to raise the cost of governmentRead MoreHow Corruption Has Proven Detrimental Effect On Business And Economic Growth1534 Words   |  7 Pagesand Ross (Corruption entrepreneurship) study, the effects of corruption on the number of establishments in any given municipality have proven to be negative and statistically significant. Over time, corruption has proven to be detrimental to business and economic growth and has long lasting negative effects (entrepernerushipbrazilmuncipalities, 69). Business growth slows or stops all together and only the state owned enterprises are able to persist through an economy riddled with corruption. These stateRead MorePoor Leadership And Internal Conflicts Essay1270 Words   |  6 Pagessome do not care what happens to them either. Internal conflicts cause poverty because the wars that start put workers out of business, and those workers cannot get work anywhere else so they are soon in poverty. 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Essay on CDS Case Study - Operations Management - 3944 Words

1.0 INTRODUCTION Operations management is defined as â€Å"the activity of managing the resources which produce and deliver products and services† (Slack et al. 2010 p4). This encompasses the entire activity carried out within the organization. With increasing pressure on organizations to deliver optimally at reduced cost, the role of operations has been transformed from that of strategy implementer to one of strategy driver. Operations strategy looks at the patterns of strategic decisions and actions in a bid to set the roles, objectives and activities of the operations (Slack et al. 2010). An understanding of these strategies is important in ensuring that organizations are well aware of the requirements needed to meet the corporate†¦show more content†¦Hence, it is important to analyse the process through which market needs are aligned with operational realities, thereby ensuring that operation can deliver what it is being asked of them and that this alignment will endure over time (Zanon et al. 2013). Evidenced in CDS operations is the implementation of two of the identified perspectives; Market requirement and Operations resource perspective. 2.1 MARKET REQUIREMENT PERSPECTIVE ANALYSIS A market requirement perspective focuses on what market position requires of operations (Slack et al. 2010). Its focus is not just on the industry, but it considers where the organization intends to compete as well as the nature of competition ­Ã‚ ­Ã‚ ­Ã‚ ­Ã‚ ­ (Lowson 2002). Hill (1985), suggested that to win orders in the market place, organizations operations strategy and the marketing strategy need to be in sync. CDS Marketing function identified a trend that seems to have worked for retailers in the decorative product industry. They realised the importance of fashion trends and its appeal to people. This market requirement led to the creation of a whole new industry. The need for premium, high quality household product characterised by the many different colour range became a market qualifying criteria that drove marketing’s strategy. This strategy was in line with the overallShow MoreRelatedOperations Management in Cds747 Words   |  3 PagesQuestion: Why is operatio ns management important in CDS? Answer: Reason of existence of any organization is its production ability, service providing ability. 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Defining Financial Terms and Role in Finance Free Essays

Defining Financial Terms and Role in Finance University of Phoenix FIN 370/ Finance for Business November 10, 2010 Defining Financial Terms and Role in Finance The following paragraphs contain financial terms and their role in finance. The terms are finance, efficient market, primary market, secondary market, risk, security, stock, bond, capital, debt, yield, rate of return, return on investment, and cash flow. The fourteen terms all have an important relationship in the world of business. We will write a custom essay sample on Defining Financial Terms and Role in Finance or any similar topic only for you Order Now The first term is finance. Finance is managing money or supplying funds to provide a resource. A bank or loan company is a source of finance because they both provide cash. Cash is the resource that one needs to survive or make a purchase. For instance, when a customer walks into a car dealership and is ready to buy a car, the salesperson draws up the paperwork and two items are in need. The first item is cash and the second is the search for a finance company to finance the car. The role of finance in this example is the customer can provide the cash to make the purchase and the finance company can supply the funds and terms of agreement to help the owner purchase the car. The second term is efficient market. Efficient market is a hypothesis that prices prevail in the market is always fair. Its role in finance according to EMH is no one can make high return without buying riskier investment as market prices are always fair. The third term is primary market. Primary market is when securities, stocks and bonds, are offered to potential investors for the first time.Companies like Verizon or AT amp; T can issue or sell securities directly to an investor. The primary market role in finance is to allow the potential investor to buy from the company and not other investors to increase the stock. The fourth term is secondary market. Secondary market is opposite of primary because it allows the investor to buy stocks and bonds from each other rather than the original company. The role of finance in secondary market is its affect on price. The price is more or less than the issue price of the original company. The fifth term is risk.Risk is the uncertainty or chance of a difference in the actual return earned on investment and the expected return earned on the investment. There are three types of risk: market, credit, and operational. The company return on an investment depends on which risk the company took. For example, people and companies take risk sometimes when they make a financial investment or provide equipment and supplies for an opportunity to receive a high return on their investment. The role of finance for a risk is the uncertainty if they will receive payment for their investment.The higher the risk means the higher the return. The lower the risk means the lower the return. The next three terms have a correlation. The terms are security, stock, and bond. Security in finance is the relationship and representation of stocks and bonds. Some securities are interest and dividend based. Common and preferred stock, bonds, notes, debenture, and option are some examples of securities. A stock represents ownership in a business, has face value, and may not carry a maturity date. A stock’s role in finance is as follows. Common stock has no fixed rate of dividend and has voting rights. Preferred stock has a fixed rate of dividend and no voting rights and preferred are the two types of stock. A bond is the last term of correlation. A bond is a fixed income security. A bond is a debt with interest, a maturity, mode of payment, and a principal. A bond’s role in finance is that it can be issued as a long term debt and requires the company to pay on the interest even if they made a loss in profit or not. Capital is the amount of money an owner has invested in his or her business. The role of capital in finance is simple. A sole proprietor has a single investment.A partnership has multiple investments and a corporation’s amount of investment is shared by the stockholders. The capital has different amounts of investment in all three forms of businesses. In accounting, a debt is a liability to be paid back in terms to the source of finance. It can be long or short term. A debt’s role in finance is that is an expense to a company that has interest payable. Rate of returned based on market price is called yield. For example, if an investor has bought shares of $10 par and company declares dividend of 10% in cash and still the market is at par.IT means that yield earned on share is equal to dividend declared. Now if market price is different from par, say it is $20, now dividend declared is same but dividend yield is 5%. Any profit or loss that has been made for a specified period on investment is called the profit or loss in $ on your investment and when it is converted into percentage it is called rate of return. If a person invests $10,000 in January and in December it increases to $12,000, then the terms of investment for the year is $2,000. The rate of return is 20% per annum because (2000/10000)*100=20%.Return on investment is the profit or loss made on the investment. Return on investment is similar to rate of return and is a ratio that describes the company’s measurement of profit. For example, Tree and Rocks Company has profit after tax for year equal to $130 million and total assets are $1300 million, it means return on investment is 10%. Cash Flow is revenue received and paid in cash. The cash flow statement shows the cash inflows and outflows in real terms of a business. Operating, investing, and financing activities are three categories on a cash flow statement.The three categories and their role in finance are detrimental to the company. The revenue and expenses incurred during a specified time period are entered in the operating activities. Buying and selling of fixed assets and other investments are entered in the investing activities. Long term debt, issuance of common and preferred stock is entered in the financing activities. The thirteen terms defined in the earlier paragraphs have a specific role in finance. The terms and their roles surround everyone in some situation every day.It is important to know the above terms and how they relate to one another in this course.Reference Keown, A. J. , Martin, J. D. , Petty, J. W. , amp; Scott, D. F. (2005). Financial Management: Principles and applications (10th ed. ). Upper Saddle River, NJ: Pearson/Prentice Hall. Mayo, H. B. (2007). Basic finance: An introduction to financial institutions, investments, and management (9th ed. ). Mason, OH: Thomson. Sulock, J. M. , amp; Dunkelberg, J. (1997). Cases in financial management (2nd ed. ). New York: John Wiley amp; Sons. How to cite Defining Financial Terms and Role in Finance, Papers