Ethics and Compliance Paper Essay

Starting in Seattle with one store, Starbucks has grown across the country and has become a household name delivering one of the best tasting coffees in existence. The first Starbucks opened in 1971, serving fresh roasted coffees. â€Å"Today, more than 15,000 stores in 50 countries, Starbucks are the premier roaster and retailer of specialty coffee in the world† (Starbucks, para. 7, 2010). The organization has been successful because of excellent managerial skills and implementing sound business decisions. Starbucks mission statement reads as follows: â€Å"to inspire and nurture the human spirit – one person, one cup and one neighborhood at a time† (Starbucks, 2010, p. 1). The company values its relationships with communities, its stores, business partners, shareholders, and employees. Responsible ethical character and compliance helps the Starbucks brand protect its reputation. This paper will explain the role of ethics, procedures, Securities and Exchange Com mission (SEC) compliance, and evaluate the financial performance of the Starbucks organization. Ethics and Compliance Policies A successful organization builds its reputation on honesty and trust displayed to customers and business partners. Starbucks conducts business in an ethical manner that protects reputation and supports its culture by unceasingly striving to do what is right. Starbucks has a commitment to company values that successfully employs a Business Conduct Helpline and a Business Conduct Web-line for questions and guidance. Starbucks has incorporated an Anti-Retaliation Policy and does not tolerate retaliation against anyone reporting misconduct. The organization is an equal opportunity employer and use best practices in the hiring process. Business practices include and are not limited to accurate and truthful business transactions and comply with laws and regulations in any country the company operates in, and encourage partners to understand and adhere to the rules. Starbucks has an outside agent who facilitates and ensures an honest and ethical relationship with government officials throughout the international arena. Partners associated with the Starbucks brand must practice ethical conduct in sales, services, and promote fair competition. Matters dealing with conflicts of interest, gifts and entertainment, and securities are also addressed and implemented by the company. The company closely monitors proprietary information such as new ideas, company records including financial and audit details. Starbucks explains the Ethical Decision-Making Framework to identify ethical issues, give any possible solutions, pursue ideas from others, and take the best approach to resolve unethical matters and follow-up on results. The aforementioned framework empowers each Starbucks associate and affiliate to take responsibility to help maintain Starbucks ethical and honest reputation. â€Å"Ethical behavior is doing the right thing, and ethical dilemmas are everywhere in finance† (Keown, Martin, Petty & Scott, para. 1, 2005). Securities and Exchange Commission’s Regulations According to Ethisphere.com, (2010), Starbucks is one of the most ethical companies in the world for 2010. One of the key points to being an ethical business is to file reports for investors, government bodies, and the public to view. Starbucks complies in one way with the ethics policies set in place by the directors and organization by providing accurate data. The financial records of Starbucks are available to the investors, public and government in a timely manner via the website. The requirement set by the Securities Exchange Committee for a public business is to provide accurate reports in a timely manner. Starbucks publishes an annual report to the Starbucks website for anyone to find via the Internet. The annual report contains cash flow statements of income and expenses. The reports show that Starbucks is performing well even during a tough economic time. The annual report also contains a statement of Starbucks critical accounting policies. Starbucks believes that critical accounting practices are important. Starbucks considers its policies an asset impairment, stock-based compensation, operating leases, self insurance reserves and income taxes to be the most critical in understanding the judgments which are involved in preparing the consolidated financial statements, as stated in the annual report on Starbucks website, (2010). Financial Ratios for the Past Two Years Starbuck’s financial records allow investors, the government, and the public to have a firsthand look into the financial stability of the company. The financial records are available for several years; this allows the long-term financial success of the company to be easily accessible and available anyone wanting to know about the company. As an investor with interest in expanding into Starbucks there are several things the investor should look for. The current ratio allows investors the ability to measure how well a company can pay back short-term debt (Keown, Martin, Petty, & Scott, 2005). Starbucks ability to pay back debt in 2009, increased over 2008. In 2008 Starbucks closed several unprofitable locations (Starbucks Investor Relations- Financial Release, 2009) resulting in the decrease of overhead costs for those locations; allowing for additional funds and increasing the ability for Starbucks to pay back short-term debt. This increases the stability of Starbucks. The availability of extra funds allows Starbucks the opportunity to invest those funds in profitable time value investments. The funds could be invested in the company for improvements or costs for innovate new products. The extra funds could also pay necessary expenses outright. This allows the company to have lower amounts of outstanding credit or loans. The lower the amount of outstanding loans and credit allows for lower credit fees and lower costs. *Current Ratio 2009 2008 Current AssetsCurrent Liabilities 599.81581.0 269.82189.7 37.93% 12.32% Investors can also look at the Debt Ratio of Starbucks. The debt ratio shows the amount of debt a company carries in relation to their assets (Keown, Martin, Petty, & Scott, 2005). Companies must carry some debt to do business effectively. However, the company does not want to carry too much debt. Starbucks has expenses that must be paid for; some of these can be paid using credit. However, the company should ensure they are not charging unnecessarily. Starbucks must also show they are paying off their debt. Starbucks debt ratio decreased from 56.08% in 2008 to 45.38% in 2009 (Starbucks Investor Relations- Financial Release, 2009). Tends in the Ratios This shows a positive financial trend. The company had larger debt in 2008 and was able to repay a good portion of the debt without increasing debt somewhere else in the company, ultimately lower the overall debt of the company. This positive trend will increase the credit status of Starbucks. This will allow the company to have credit available if needed in the future. *Debt Ratio 2009 2008 Total DebtTotal Assets 2531.15576.8 3181.75672.6 45.38% 56.08% Investors can also look at the Return on Equity Ratio. The Return on Equity Ratio measure the amount of net income returned as a percentage of shareholder equity (Keown, Martin, Petty, & Scott, 2005). The main reason investors invest into companies is to make money!! If the investor does not make a sizable return on their investment, they may take their money and decide to invest elsewhere!! The investor wants to have confidence the company is going to make solid decisions that will increase the profitability of the shareholders. Starbucks has seen a decrease in Return on Equity. In 2008 Starbucks Return on equity was 21.10% and in 2009 it fell to 19.64% (Starbucks Investor Relations- Financial Release, 2009). This is a negative trend for Starbucks. Investors do not want to lose money! The decrease was minimal, yet it was a decrease. Overall the company has solid financials. This one negative issue can become a major problem if Starbucks continues to make decisions that allow shareholders equity to decrease. *Return on Equity 2009 2008 Net Income Common Equity 598.23045.7 525.82490.9 19.64% 21.10% *All numbers are in millions Conclusion In conclusion, Starbucks has proven itself to be a good investment for any investor. The organization has been in the business for 30 years and has showed substantial growth throughout. The organization started out with one location and has grown to over 15,000, which are located throughout the globe. The organization as a whole strives to uphold ethical behavior, not only set by the SEC but as well as for them. Not only does the organization uphold a high ethical behavior for them but as well only does business with those who have the same mentality. This was proven by being ranked one of the most ethical places to work and this was according to Ethisphere.com. Even though there was a small decrease in the return on equity from 2008 to 2009, which consequently could be because of the recession that most businesses have been affected by, Starbucks has still proven strong that the organization is still a good investment. The organization has shown an increase in profit and a decrease in debt. All and all, Starbucks is a good investment for anyone who is interested in getting into the business, which the organization has shown through good business decisions and ethical behaviors. Reference Keown, A. J., Martin, J. D., Petty, W. J., & Scott, D. F. (2005). Financial Management: Principles and Applications. Pearson Prentice Hall. Retrieved online on November 22, 2010 located at https://portal.phoenix.edu/classroom/coursematerials/fin_370/20101109/. Starbucks Investor Relations- Financial Release. (2009, 11 4). Retrieved November 20, 2010, from Starbucks: http://investor.starbucks.com/phoenix.zhtml?c=99518&p=irol-newsArticle&ID=1492291&highlight= SEC. Gov, (2010). The Investor’s Advocate: How the SEC Protects Investors, Maintains Market Integrity, and Facilitates Capital Formation. Retrieved on November 22, 2010 online located at http://www.sec.gov/about/laws/sea34.pdf Starbucks. (2010). About Us. Retrieved online on November 22, 2010 from http://www.Starbucks.com Starbucks website, (2010). Investor relations. Retrieved on November 22, 2010 from Starbucks website http://www.starbucks.com Starbucks website, (2010). Annual Report. Retrieved from Starbucks website on November 20, 2010: http://www.starbucks.com

Jp Morgan& Chase Annual Report

JPMorgan and Chase 2011 Financial Analysis Abbiton Mumba , Bomboma Douti, Thuy Doan, Tracy Nguyen [Type the company address] General Information: JPMorgan Chase (NYSE: JPM) is one of the oldest financial institutions in the United States with a history dating back over 200 years. JPMorgan and Chase is basically included Chase- the U. S. consumer and commercial banking businesses serve customers under the Chase brand. The consumer businesses include: Branch, ATM, telephone and  online banking, Credit cards, Small business, Home finance and  home equity loans, Auto finance, Education finance, Retirement & Investing, Retail Checking.The commercial banking businesses include: Middle Market, Corporate Client Banking, Commercial Real Estate, Business Credit, Equipment Finance, Commercial Term Lending, Community Development. – and JPMorgan which is J. P. Morgan clients include the world's most prominent corporations, governments, wealthy individuals and institutional investors. T hese businesses use the  J. P. Morgan brand: Investment Bank, Asset Management, Treasury Services, Worldwide Securities Services, Private Banking, Private Client Services, One Equity Partners.The corporate headquarters are in  270 Park Avenue,  Midtown,  Manhattan, New York City, New York, and the  retail  and  commercial bank  is headquartered in  Chase Tower,  Chicago Loop,  Chicago, Illinois, United States. The biggest event recently that JPMorgan anticipating in is acquisition of Washington Mutual in 2008. JPMorgan Chase raised $10  billion in a stock sale to cover write-downs and losses after taking on deposits and branches of Washington Mutual  Through the acquisition, JPMorgan now owns the former accounts of  Providian Financial, a credit card issuer Washington Mutual acquired in 2005.The company announced plans to complete the rebranding of Washington Mutual branches to Chase by late 2009. JPMorgan and Chase has the fiscal year end Dec 31. Interne t Information: The internet address of the corporation is www. jpmorgan. com. The website provides broad information. The most important section is the â€Å"Investor relation† section. We can find Financial Information including annual report/ proxy statements, SEC filing, earning release, credit releases, Investor presentations , shareholder information including stock price history.The purpose of website is describe the corporation, provide customer service information, promote the industry the corporate in, provide employment information, publicize corporate citizenship. The annual reports and other different reports can be found in the government website www. sec. gov. The primary Standard Classification (SIC) is 6021 6029 6712 and the Central Index Key (CIK) number assigned to corporations that file with the SEC is 19617. The latest form 10-K is dated February, 29th, 2012. Basically, JPMorgan and Chase have a moderate change in the price of the common stock over the las t two years.The biggest downward slope is between September 2011 to December 2011 and then it continues to be upward sloping. This fall price considers a narrow price range. Income Statement Compared to last year, Revenue growth decreased by -5. 3168%. A decreased of $5,460,000,000. The decline in net revenue from 2010 was driven by lower net interest income, securities gains, mortgage fees related income, and principal transactions revenue, partially offset by higher asset management, administration and commission revenue and higher other income.The increase in noninterest expense was driven largely by higher compensation expense, reflecting increased headcount. Despite the fact that the revenue lost than last year, over the last 5 year the company experienced the increased revenue due to net inflows to products with higher margins, higher deposit and loan balances, and the effect of higher average market levels. Growth in Revenue decreases than last year but Growth in profit incre ases by 9. 2458%. Although the Net Revenue of the current year is less than last year but Pre-provision profit on 2010 decreases from $16,639,000,000 to $7,574,000,000.That reason makes Growth in profit during the current year increased by 9. 2458%. Common-size Analysis: | Current Year| Previous Year| Revenue| 100%| 100%| Non-interest Expense| 64. 70%| 59. 59%| Interest Expense| 13. 99%| 12. 45%| Income Tax Expense| 7. 99%| 7. 29%| Income from continuing operations| 27. 51%| 24. 21%| Net Income| 19. 52%| 16. 91%| In general chase’s total non-interest expenses in 2011 rose 5. 11% higher than the total non-interest expense in 2010. The net income in 2010 seems lower than 2011 due to less operating and investment activities in 2010.Apart the item labeled other expenses and amortization of intangibles; all the other expenses were slightly higher. The increase in non-interest expense was driven largely by higher compensation expense reflecting headcount. The operating cost as part of the non-interest expense was definitely higher compared to 2010. The higher headcount visibly explains this increase. The provision for credit lost was 8. 41% lower than the 2010 provision. This was due to the amelioration of collection from customers. Consumer business modestly improved and mortgage net charge-offs and delinquencies improved.It is probably included in the item â€Å"other expenses† which were lower than 2010 but 6. 38% higher than 2009. Tax Burden: The total revenue in 2011 was 5. 62% lower than the revenue in 2011 but the bottom line was a lot higher than the previous year (2. 61%). The tax burden became consequently higher than the previous year; actually about 0. 7%. The increase in the tax burden due to the higher income in 2011 was definitely the result of the lower provision in credit loss in 2011. The provision in 2010 was about twice the provision in 2011, because of the lower interest revenue.Profitability in 2011 was better than the one in 2010 . As a percentage of total revenue, net income was 2. 61% higher than the one in 2010. Net income in 2011 was by itself 9. 2 % higher than the one in 2010. This was again the result of the lower provision for credit losses. The consumer portfolio also improved. The decline in 2010 was driven by lower net interest income, security gains, mortgage fees and related income. The other-than-temporary impairment losses are included in securities gains for the periods presented was $27million in 2011 and $94 million in 2010. Balance sheet JPMorgan Chase ; Co. s one of the oldest, largest and best-known financial institutions in the world. The firm's legacy dates back to 1799 and operates in more than 50 countries. JPMorgan and Chase is proved to be a mature firm with higher capital and liquidity. The Total Assets on the balance sheet grew $148,187 million, year ending Dec 31, 2011 from previous year ending Dec 31 2010 representing a percentage of 0. 07. The change in Assets were partly due to the acquisition of RBS Sempra on July 1, 2010 and the transaction in 2011 of RBS Sempra which is a commodities’ global oil, global metals and European power and gas businesses.This acquisition almost doubled the number of clients the firm’s commodities’ business can serve and has enabled the firm to offer clients more products in more regions of the world. J. P Morgan Chase completed purchase of the remaining interest in High bridge, which resulted in $228 million Capital surplus. Missing Common size analysis Cash Flow Statement: The cash flows resulting from operation activities in 2010 and 2011 were -$3752 million and $95,932 million. The cash flow resulting from investing activities in 2010 and 2011 was $54,002 million and -$170,752.The cash flow resulting from financing activities in 2010 and 2011was -$49,217 million and $107,706 million. There was a significant increasing in cash $ 32,035 in 2011 and a little $1,361 million in 2010. The beginning in cash balance was $27,567 million and $26,206 million respectively in 2011 and 2010. The ending cash balance in 2011 and 2010 were $59,602 million and $27,567 million. There were three significant sources of cash which were from a hug number of net change in deposit, proceeds from long-term borrowings and trust preferred capital debt securities and from net earnings and sell securities.The three most significant uses of cash were taken from acquisition of businesses or dispositions, purchase securities and loans out and proceed from sales, securitizations and pay downs of loans held-for-sale and net change in trading assets. Based on a comparison of the income statement to the statement of the cash flows, depreciation and amortization in intangible was add back to statement of cash flow and other-than-temporary impairment losses are included in securities gains for the periods presented, caused the greatest differences net income ( loss) and the cash flow from operation. Statement of cha nges in Stockholders’ Equity:The number of common shares outstanding has decreased over 3 years. On March 18, 2011, the Board of Directors approved a $15. 0 billion common equity (i. e. , common stock and warrants) repurchase program, of which $8. 95 billion was authorized for repurchase in 2011. The $15. 0 billion repurchase program superseded a $10. 0 billion repurchase program approved in 2007. During 2011 and 2010, the Firm repurchased (on a trade-date basis) an aggregate of 240 million and 78 million shares of common stock and warrants, for $8. 95 billion and $3. 0 billion, at an average price per unit of $37. 35 and $38. 9, respectively. The Firm did not repurchase any of the warrants during 2010, and did not repurchase any shares of its common stock or warrants during 2009. As of December  31, 2011, approximately 408 million unissued shares of common stock were reserved for issuance under various employee incentive, compensation, option and stock purchase plans, dire ctor compensation plans, and the warrants sold by the U. S. Treasury. Retained Earnings: fixed Dec 31 2011 Dec 31 2010 Beginning Retained earnings (2008) $54,013,000,000 Net Income $944. 00, 000 $1,001,000,000 Ending Retained Earnings $88,315,000,000 $73,998,000,000 From the number above we can conclude that Retained earnings increased in 2008 to $88,315,000,000 from $73,998,000,000 in 2010. Notes and supporting schedules to the financial statements. Cash and cash equivalents: the corporation define their cash equivalents by fund invested in US, T-bills, money market account, demand deposits or small-denomination time deposit and other investment with a maturity of 3 months or less when purchase.Account receivable: The corporation has the gross Account Receivable of $89,087 million current year and $102,413 million in 2010 reflects to 30. 9% and 31. 5% percentage of uncollectible. The lower the ratio the better, JPMorgan and Chase’s percentage uncollectible for 2011 is slight ly better than 2010. The results of the receivable turnover in 2011 and 2010 were 1. 48 times and 2. 69 times respectively. The higher the turnover is the better. However, the current year 2011 is lower than the previous year 2010.This is the result of the higher revenue in 2010. Inventories: N/A Property and Depreciation: The Corporation classified its property, plant and equipment into five categories: land, buildings, leasehold improvements, furniture and fixtures, hardware and software. JPMorgan Chase computes depreciation using the straight-line method over the estimated useful life of an asset. For leasehold improvements, the Firm uses the straight-line method computed over the lesser of the remaining term of the leased facility or the estimated useful life of the leased asset.None of the assets were recognized as impaired during the current year. The Accumulated Depreciation increased from $13,355,000,000 of last year to $14,041,000,000 of current year. Despite the land or co nstruction in progress, percentage of Fixed Asset Depreciation was approximately 23. 17% last year and 23. 26 % this year. For the percentage of fixed asset depreciation do not included land and construction in progress, there is slightly increased from last year to this year. The increase in premise and equipment was predominantly due to renovation of J.P Morgan Chase’s headquarters in New York City, the purchase of a building in London, retail branch expansion in the US, and investment in technology hardware and software, as well as other equipment. The increase was particularly offset by depreciation and amortization. This implies that in the future the company will spend more money on replacing the old equipment and that means it impacts on the capital expenditure on their financial statement. However, the company applies on the fixed asset turnover to generate revenue. The ratios are 7. 50 times last year and 7. 0 this year Operating and Capitalized leases: JP Morgan Cha se hasn’t declared any capitalized leases in the 2011 10K. We do have a section devoted to operating leases. Obligation associated with operating leases in 2011was $2,228 million, and expense associated with operating leases in the current year is $1,825 million. Payment for operating leases next year is $1,753 million. Long term debt: JPMorgan Chase issues long-term debt denominated in various currencies, although predominantly U. S. dollars, with both fixed and variable interest rates.Included in senior and subordinated debt below are various equity-linked or other indexed instruments, which the Firm has elected to measure at fair value. Changes in fair value are recorded in principal transactions revenue in the Consolidated Statements of Income. The following table is a summary of long-term debt carrying values (including unamortized original issue discount, valuation adjustments and fair value adjustments, where applicable) by remaining contractual maturity as of December 31, 2011. Most debts were JPMorgan Chase Capital.The five largest debt were JPMorgan Chase Capital X $1,016 million in amount with the rate of 7%, JPMorgan Chase Capital XXV $2,292 million in amount with the rate of 6. 8% rate, JPMorgan Chase Capitals XXVI $1,815 million in amount with the rate of 8. 0% , JPMorgan Chase Capitals XXVIII $1,500 million in amount with the rate of 7. 2%, JPMorgan Chase Capitals XXIX $1,500 million in amount with the rate of 6. 7%. Those debts aren’t due until next 30 years. JPMorgan and Chase don’t have any significant debt payment outstanding.Pension Plans: JPMorgan and Chase recognize in its statement of financial position the funded status of a benefit plan; measure defined benefit plan assets and obligations as of the end of the employer’s fiscal year (with limited exceptions) and recognize as a component of other comprehensive income, net of tax, the gains or losses and prior service costs or credits that arise but are not rec ognized as components of net periodic benefit costs pursuant to prior existing guidance. JPMorgan and Chase don’t have Defined Contribution Pension expense but Defined Benefit Pension with the expense of 11,808 billion.Defined benefit obligation in the current year: $13461 millions for U. S and Non U. S plans. Fair value of the retirement plan assets at the end of the current year: At December 31, 2011 defined benefit pension plan amounts not measured at fair value included $50 million. At the end of December 2011, the accumulated defined benefit pension obligation had a balance of ($9,008) million, but in my opinion, the plan is well funded. At December 2011, the plan was said to have 2. 6 billion balance overfunded. It is clearly stated in the notes that by December 31st 2011, the U. K plan was $33 million unfunded.Amount recognized on the balance sheet related to pension: $ 1,429 million funded in the U. S, and a non-U. S balance of 160 million. The amount contributed to t he defined benefit pension plan in 2011 was 37 million for the U. S and 169 million for the Non-US. $540 million were paid to retirees in the U. S whereas 93million were paid to non U. S in 2011. Investments in the defined benefit pension fund are the Firm’s U. S. defined benefit pension plan assets are held in trust and are invested in a well-diversified portfolio of equity and fixed income securities, real estate, cash and cash equivalents, and alternative investments (e. . , hedge funds, private equity, real estate and real assets). Non-U. S. defined benefit pension plan assets are held in various trusts and are also invested in well-diversified portfolios of equity, fixed income and other securities. Assets of the Firm’s COLI policies, which are used to partially fund the U. S. OPEB plan, are held in separate accounts with an insurance company and are invested in equity and fixed income index funds. The investment policy for the Firm’s U. S. efined benefit p ension plan assets is to optimize the risk-return relationship as appropriate to the needs and goals using a global portfolio of various asset classes diversified by market segment, economic sector, and issuer. Assets are managed by a combination of internal and external investment managers. Periodically the Firm performs a comprehensive analysis on the U. S. defined benefit pension plan asset allocations, incorporating projected asset and liability data, which focuses on the short-and long-term impact of the asset allocation on cumulative pension expense, economic cost, present value of contributions and funded status.Postretirement Benefits other than Pensions: there is no expense associated with non-pension post-retirement benefit. Benefits obligation for the non-pension post-retirement benefit plan was $999 million in 2011. Fair market value of assets held for non-pension post-retirement benefits plan was 1,435 million in 2011. The plan is adequately funded. The fair market valu e of the post-retirement benefit plan has enough resources to operate. Amount recognized on the balance sheet related to the non-pension post-retirement plan was $436 million.Amount contributed to non-pension post retirement benefits during the current year is $2 million, and amount of non-pension post retirement benefits paid to retirees during the current year is $26 million. Income Taxes: The income tax expense for the current year in the income statement is $7,773 million and $1,693 million of the current year’s income tax expense has been deferred to future periods. The effective tax rate for current year is 29. 1%. There are two types of Income taxes disclosed on the notes: Gross deferred tax asset is $27,632 million and Gross deferred tax liability is $12,856 million.As the results, the Net deferred tax amount is $14,776 million. The significant activities resulted in recognition of deferred tax liabilities that are not yet due to a tax authority are depreciation and a mortization, leasing transactions, non-US transaction and others. On other hand, the significant activities led to the recognition of deferred tax assets will be utilized in the future are allowance for loan losses, employee benefits, accrued expenses and others, non-US operations, tax attribute carry forwards. Stock-Based Compensation: MISSING Segmental and Geographic Information: JPMorgan Chase & Co. JPMorgan Chase) is a financial holding company. The Company is a global financial services firm and a banking institution in the United States, with global operations. The Company is engaged in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, asset management and private equity. JPMorgan Chase’s principal bank subsidiaries are JPMorgan Chase Bank, National Association, a national bank with the United States branches in 23 states, and Chase Bank USA, National Association, a national bank that is the Company’s credit card-issuing bank.The bank and non-bank subsidiaries of JPMorgan Chase operate nationally, as well as through overseas branches and subsidiaries, representative offices and subsidiary foreign banks. One of the Company’s principal operating subsidiaries in the United Kingdom is J. P. Morgan Securities Ltd. , a subsidiary of JPMorgan Chase Bank; N. A. JPMorgan Chase’s activities are organized into six business segments, as well as Corporate/Private Equity. JPMorgan Chase’s activities are organized into six business segments, as well as Corporate/Private Equity.The Company’s wholesale businesses comprise the Investment Bank (IB), Commercial Banking (CB), Treasury & Securities Services (TSS) and Asset Management (AM) segments. The Company’s consumer businesses comprise the Retail Financial Services (RFS) and Card Services & Auto (Card) segments. Contingencies: NEED TO FIX Probable Litigation: The Firm has established reserves fo r several hundred of its currently outstanding legal proceedings. The Firm accrues for potential liability arising from such proceedings when it is probable that such liability has been incurred and the amount of the loss can be reasonably estimated.The Firm evaluates its outstanding legal proceedings each quarter to assess its litigation reserves, and makes adjustments in such reserves, upwards or downwards, as appropriate, based on management’s best judgment after consultation with counsel. During the years ended December 31, 2011, 2010 and 2009, the Firm incurred $4. 9 billion, $7. 4 billion and $161 million, respectively, of litigation expense. There is no assurance that the Firm’s litigation reserves will not need to be adjusted in the future.Mortgage Foreclosure Investigations and litigation: JPMorgan Chase and four other firms have agreed to a settlement in principle (the â€Å"global settlement†) with a number of federal and state government agencies, in cluding the U. S. Department of Justice, the U. S. Department of Housing and Urban Development, the Consumer Financial Protection Bureau and the State Attorneys General, relating to the servicing and origination of mortgages. The global settlement, which is subject to the execution of a definitive agreement and court approval, calls for the Firm to, among other things: (i) make cash payments of approximately $1. billion (a portion of which will be set aside for payments to borrowers); (ii) provide approximately $500 million of refinancing relief to certain â€Å"underwater† borrowers whose loans are owned by the Firm; and (iii) provide approximately $3. 7 billion of additional relief for certain borrowers, including reductions of principal on first and second liens, payments to assist with short sales, deficiency balance waivers on past foreclosures and short sales, and forbearance assistance for unemployed homeowners. If the Firm does not meet certain targets for provision o f the refinancing or other borrower relief within certain prescribed time periods, the Firm will instead make cash payments. ) In addition, under the global settlement the Firm will be required to adhere to certain enhanced mortgage servicing standards. Overdraft Fee/Debit Posting Order Litigation: JPMorgan Chase Bank, N. A. has been named as a defendant in several purported class actions relating to its practices in posting debit card transactions to customers’ deposit accounts.Plaintiffs allege that the Firm improperly re-ordered debit card transactions from the highest amount to the lowest amount before processing these transactions in order to generate unwarranted overdraft fees. Plaintiffs contend that the Firm should have processed such transactions in the chronological order they were authorized. Plaintiffs seek the disgorgement of all overdraft fees paid to the Firm by plaintiffs since approximately 2003 as a result of the re-ordering of debit card transactions.The cl aims against the Firm have been consolidated with numerous complaints against other national banks in multi-District litigation pending in the United States District Court for the Southern District of Florida. The Firm’s motion to compel arbitration of certain plaintiffs’ claims was initially denied by the District Court. On appeal, the United States Court of Appeals for the Eleventh Circuit vacated the District Court’s order and remanded the case for reconsideration in light of a recent ruling by the United States Supreme Court in an unrelated case addressing the enforcement of an arbitration provision in a consumer product agreement.The Firm has reached an agreement in principle to settle this matter in exchange for the Firm paying $110 million and agreeing to change certain overdraft fee practices. The settlement is subject to documentation and court approval. Service Members Civil Relief Act and Housing and Economic recovery Act Investigations and litigation : multiple government officials have conducted inquiries into the Firm’s procedures related to the Service Members Civil Relief Act (â€Å"SCRA†) and the Housing and Economic Recovery Act of 2008 (â€Å"HERA†).These inquiries were prompted by the Firm’s public statements about its SCRA and HERA compliance and actions to remedy certain instances in which the Firm mistakenly charged active or recently-active military personnel mortgage interest and fees in excess of that permitted by SCRA and HERA, and in a number of instances, foreclosed on borrowers protected by SCRA and HERA. The Firm has implemented a number of procedural enhancements and controls to strengthen its SCRA and HERA compliance.In addition, an individual borrower filed a nationwide class action in United States District Court for South Carolina against the Firm alleging violations of the SCRA related to home loans. The Firm agreed to pay $27 million plus attorneys’ fees, in addition t o reimbursements previously paid by the Firm, to settle the class action. Additional borrowers were subsequently added to the class, and the Firm agreed to pay an additional $8 million into the settlement fund. The court entered a final order approving the settlement in January 2012. Reasonable Possible:The Firm believes the estimate of the aggregate range of reasonably possible losses, in excess of reserves established, for its legal proceedings is from $0 to approximately $5. 1 billion at December 31, 2011. This estimated aggregate range of reasonably possible losses is based upon currently available information for those proceedings in which the Firm is involved, taking into account the Firm’s best estimate of such losses for those cases for which such estimate can be made. For certain cases, the Firm does not believe that an estimate can currently be made.The Firm’s estimate involves significant judgment, given the varying stages of the proceedings (including the f act that many are currently in preliminary stages), the existence in many such proceedings of multiple defendants (including the Firm) whose share of liability has yet to be determined, the numerous yet-unresolved issues in many of the proceedings (including issues regarding class certification and the scope of many of the claims) and the attendant uncertainty of the various potential outcomes of such proceedings.Accordingly, the Firm’s estimate will change from time to time, and actual losses may be more than the current estimate. Auction Rate Securities Investigations and Litigation: Beginning in March 2008, several regulatory authorities initiated investigations of a number of industry participants, including the Firm, concerning possible state and federal securities law violations in connection with the sale of auction-rate securities.The market for many such securities had frozen and a significant number of auctions for those securities began to fail in February 2008. Th e Firm also faces a number of civil actions relating to the Firm’s sales of auction-rate securities, including a putative securities class action in the United States District Court for the Southern District of New York that seeks unspecified damages, and individual arbitrations and lawsuits in various forums brought by institutional and individual investors that, together, seek damages totaling approximately $50 million.The actions generally allege that the Firm and other firms manipulated the market for auction-rate securities by placing bids at auctions that affected these securities’ clearing rates or otherwise supported the auctions without properly disclosing these activities. Some actions also allege that the Firm misrepresented that auction-rate securities were short-term instruments. The lawsuits are being coordinated before the federal District Court in New York.Additionally, the Firm was named in two putative antitrust class actions. The actions allege that the Firm, along with numerous other financial institution defendants, colluded to maintain and stabilize the auction-rate securities market and then to withdraw their support for the auction-rate securities market. In January 2010, the District Court dismissed both actions. An appeal is pending in the United States Court of Appeals for the Second Circuit.Interim (Quarterly Reporting: During the current year 2011, the company’s revenue for 1st quarter is $25,221 million, 2nd quarter is $26,779 million, 3rd quarter is $23,763 million and 4th quarter is $21,471 million. There is a significant fluctuation in quarterly data because It experienced a decrease in revenues during the current year from 1st quarter to 4th quarter. Report of independent Auditors: Auditor is PricewaterhouseCoopers LLP located at 300 Madison Avenue New York, NY 10017. The auditor believes that the financial statements were presented fairly.Their opinion is stated as follow: In our opinion, the accompanying consolidated balance sheets and the related consolidated statements of income, changes in stockholders' equity and comprehensive income and cash flows present fairly, in all material respects, the financial position of JPMorgan Chase ; Co. and its subsidiaries (the â€Å"Firm†) at December 31, 2011 and 2010, and the results of their operations and their cash flows for each of the three years in the period ended December 31, 2011, in conformity with accounting principles generally accepted in the United States of America.Also in our opinion, the Firm maintained, in all material respects, effective internal control over financial reporting as of December 31, 2011, based on criteria established in Internal Control – Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Report of Internal control: Management of JPMorgan Chase ; Co. (â€Å"JPMorgan Chase â€Å"or the â€Å"Firm†) is responsible for establishing and maintaining adequate internal control over financial reporting. The same authority, Management of JPMorgan Chase ; Co. â€Å"JPMorgan Chase â€Å"or the â€Å"Firm†) is responsible for maintaining adequate internal control over financial reporting. The auditor does believe that the corporation maintained adequate internal control over financial reporting. Here is their opinion: â€Å"in our opinion, the Firm maintained, in all material respects, effective internal control over financial reporting as of December 31, 2011, based on criteria established in Internal Control – Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Ratio Analysis Analysis of profitability: The profit margins were 16. 1% and 19. 52 % to the following 2010 and 2011 year end. The increase in profit margin due to the advantage of the allowance for losses, noninterest revenue and interest expense. Interest income and interest expense is recorded in the Consolidated Statements of Income and classified based on the nature of the underlying asset or liability. Interest income and interest expense includes the current-period interest accruals for financial instruments measured at fair value, except for financial instruments containing embedded derivatives that would be separately accounted for in accordance with U.S. GAAP absent the fair value option election; for those instruments, all changes in fair value including any interest elements, are reported in principal transactions revenue. For financial instruments that are not measured at fair value, the related interest is included within interest income or interest expense, as applicable. The corporation has the return on assets of 0. 86% in 2011 and 0. 79% in 2010. The returns on assets were significant low compare to return on stockholder’s equity of 10. 5% in 2011 and 9. 66% in 2010. In general, JPMorgan and Chase is a big corporation, but they had a tight controlled and managed very well. Therefore, their earning is improved and very stable in recent year although the economy looks doom. Earnings per share (â€Å"EPS†) is calculated under the two-class method under which all earnings (distributed and undistributed) are allocated to each class of common stock and participating securities based on their respective rights to receive dividends.JPMorgan Chase grants restricted stock and RSUs to certain employees under its stock-based compensation programs, which entitle recipients to receive non-forfeitable dividends during the vesting period on a basis equivalent to the dividends paid to holders of common stock; these unvested awards meet the definition of participating securities. Options issued under employee benefit plans that have an anti-dilutive effect are excluded from the computation of diluted EPS. EPS in 2011 was $4. 50 compare to 2010 of $ 3. 98. This increase is the result of increasing in net income in 2011 due to bet ter management.The corporation does disclose the diluted EPS with $4. 48 in 2011 and $3. 96 in 2010. Cash dividend per share in 2011 was $ 0. 94 dollar per share and $0. 36 dollar per share in 2010. Dividend payout ratio for 2010 was 16% and 35% in 2011. Price/ Earning ratio also improves between 2010 with 9. 26 times and 2011 with 9. 62 times. In the past decade, the average P/E ratio for Major Corporation has ranged from 14 to 25. JPMorgan and Chase’s P/E was below the range about 5 points. However, we can’t say that JPMorgan and Chase is no t growing.JPMorgan Corporation is huge plus with the gloomy economy right now, but this corporation still generates profitability while other corporation in the same industry is struggling. This tell us that JPMorgan is a stable for a long run. Analysis of Liquidity: JPMorgan and Chase had the current (working capital) ratio in 2011 of 1. 55:1 and 1. 71:1 in 2010. Net working capital was $964,168 million in 2011 and $932,220 in 2 010. Quick (Acid –Test) ratios were 0. 28:1 in 2011 and 0. 31:1 in 2010. The liquidity position of the corporation weakened a little in 2011.Although there was an increase in cash and receivables in 2011, there was less account receivable compared to 2010. There was also a large increase in current liabilities in 2011, because of the increase in deposit. Based on this, JP Morgan Chase should be able to meet its current obligation even though the ratio was a little down compare to the previous year of 2010. Since it is a big and sustainable corporation in the financial industry, there is rarely a change for them to have a problem with the working capital. Analysis of Solvency: Debt to total Assets in 2011 was 91. 8% and 91. 6% in 2010.There is not much difference between the debt to assets ratio showing the amount of leverage JP Morgan Chase used to finance its operations between the year 2011 and the year 2010.. The rule of thumb is to make sure that the bottom which is the a ssets is larger than the top which is the liabilities. The ratio of 91. 8% percent for the year 2011 and 91. 6% for the year 2010 at first glance would give an impression of a company which is over leveraged. This is not the case, JPMorgan Chase Debt to Assets ratio is very consistent with the banking industry standards especially banks of JPMorgan Chase size.Banks make money by lending other peoples money. It never hurts however, to bring the ratio a little lower as it would give the bank more space to maneuver should there be a financial melting in the general economy like the one experienced in 2008. Potential lenders would prefer the ratio to be as lower as much as possible because that would show that the company has more Assets than Liabilities which can help the company pay its debt when it’s due or assets that can be liquidated to pay its lenders should the company end up in liquidation. Missing Time Interest Earned Ratio Industry Competitor Comparison:A close competi tor of JPMorgan Chase is Bank of America Corporation. The difference between these large banks is that Bank of America is primarily a bank operating in other financial services while J. P. Morgan is an investment firm also operating as a bank. It has offices in more than 60 countries of the world. Both companies have relatively similar gross profit percentages; but percentages changed if we go down to income from continuing operations of both companies. As we see on the table 3, we know that the Net income from continuing operations of JP Morgan Chase is greater than Bank of America Corporation.This shows that Chase is good at managing costs on other income and expenses besides selling general and administrative and others. On the balance sheets, we both see the similar common-size on total assets of both companies. Another difference between two of them is the profitability. As we see on Table 3, profit margin of Chase bank is higher due to net income (gain) while Bank of America e xperiences a net loss. Return on asset for both companies are pretty low on last year. Return on equity for Chase bank is higher that means the shareholders earn a sufficient return on their equity investment.The major different on Profitability ratio between two companies is the dividend payout ratio which is the Bank of America is way too high. It indicates the company pays high dividends whose stock price is temporary not good. Moreover, a high dividend payout ratio can also point to a mature company with few growth opportunities. On other hand, Chase bank has low dividend payout ratio that we know Chase is a fast-growing company whose shareholders willingly forego cash dividends, because the company uses the extra money to generate higher returns and, in turn, a high stock price.As a conclusion, JP Morgan Chase is more profitable than Bank of America Corporation. Compared on the liquidity ratios, both companies meet their requirements on pay their liabilities on time. If we take down to Acid test, we easily understand Bank of America has more liquid assets available to pay its current debts. On the debt ratio, both companies’ ratios are over 0. 5 which means both companies’ assets are finances through debts. On the Time interest earned ratio, JP Morgan Chase is little bit higher which is better since Bank of America Corporation Company has more debts.Last but not least, Operational ratios are very similar and they both efficiently know how to use the assets on sales. As the whole comparison between too biggest bank firms, I think they are overall doing very well on managing their companies. Taking on to the details, JP Morgan Chase has more probability on sales. Bank of America is still doing fine but if I prefer invest on JP Morgan Chase’ stock. |   JP Morgan ;Chase |   | Bank of America Corp. |   | Income Statement Common-Size Data|   |   |   |   | Gross Profit/Sales| 92. 0%|   | 95. 6%|   | Income from Continuing O perations/Sales| 19. 5%|   | 7. %|   | Balance Sheet Common-Size Data|   |   |   |   | Current Assets/Total Assets| 19. 5%|   | 42. 5%|   | Current Liabilities/Total Assets| 71. 4%|   | 74. 1%|   | Liabilities/Total Assets| 91. 9%|   | 89. 2%|   | Equity/Total Assets| 8. 1%|   | 10. 8%|   | Profitabilty Ratios|   |   |   |   | Profit Margin| 19. 5%|   | 1. 3%|   | Return on Assets| 0. 9%|   | 0. 1%|   | Return on Equity| 10. 6%|   | 0. 7%|   | Dividend Payout Ratio| 18. 0%|   | 400. 0%|   | Liquidity Ratios|   |   |   |   | Current Ratio| 0. 62 :1|   | 0. 64:1|   | Quick Ratio| 0. 27 :1|   | 0. 2:1|   | Solvency Ratios|   |   |   |   | Debt/Total Assets| 0. 92|   | 0. 89|   | Times Interest Earned (Accrual)| 3. 00|   | 1. 12|   | Operational Ratios|   |   |   |   | Receivable Turnover| 1. 5|   | 1. 5|   | Inventory Turnover| N/A|   | N/A|   |  © 2008 William R. Pasewark|   |   |   |   | | | | | | Making Decision based on annual report Total net revenue for 2011 was $97. 2 billion, a decrease of $5. 5 billion, or 5%, from 2010. Results for 2011 were driven by lower net interest income in several businesses, lower securities gains in Corporate/Private Equity, ower mortgage fees and related income in RFS, and lower principal transactions revenue in Corporate/Private Equity. These declines were partially offset by higher asset management fees, largely in AM. Investment banking fees decreased from 2010, predominantly due to declines in equity and debt underwriting fees. The impact from lower industry-wide volumes in the second half of 2011 more than offset the Firm's record level of debt underwriting fees in the first six months of the year. Advisory fees increased for the year, reflecting higher industry-wide completed M&A volumes relative to the 2010 level. Management discussion and analysis) Revenues increased from 2009 to 2010 by 2. 25 %. The increase c ame in part from noninterest income, securities and principal transactions. The economy will be the most important factor on the banking industry in the next year. The mortgage industry is still hurting even if it shows some signs of improvement. JP Morgan showed a net profit of at 5 billion this first quarter of the year, but it is hard to predict if the total revenue at the end of the year would match the previous year’s revenues.Next year’s revenue is probably going to be in the 100-103 billion range. JP Morgan Chase’s income comes from diverse business units. The total revenues increased 2. 25% from 2009 to 2010. The increase came from asset management, the noninterest revenue, the security gains and the item marked other income. Also the reduction in the allowances for credit losses for mortgages and credit cards as a result of improved delinquency trends and lower estimated losses reflected the net revenue increase. Principal transactions revenue increased compared with 2009.This was driven by the Private Equity business, which had significant private equity gains in 2010, compared with a small loss in 2009, reflecting improvements in market conditions. Net income next year could be in the 19 to 20 billion range. In my opinion, JP Morgan chase’s assets will have a stable growth in the next few years. Despite the visible improvement in the economy, the banking industry is not likely to record rapid growth in the next few years. The recovery is still weak; investments are still lagging and so directly affecting the books of the banks. I expect the total Assets to increase a little more next year based on the mprovement in the broad United States and World economy. My belief is based on the fact that JPMorgan performed better than the average bank in 2010 and 2010 arguably the west years for any business in recent history due to the subprime mortgage melt down of the financial markets. The last few years so a high number of unemp loyment hitting 10% before starting drop later part of 2011 and the highest number of mortgage foreclosure. The mortgage industry as bottomed and the market is already healing and banks like Wellfargo are already posting stronger than expected results due to their mortgage based assets performing better than expected.JPMorgan Chase’s balance sheet looks relatively strong and do not show that it will need additional financing next few years. It has deposits in excess of $85,279,000,000 and it is sitting on cash of $59,602,000,000. JPMorgan Chase should not have a problem raising funds from the Capital market should they need additional financing based on the strength and growth of its balance sheet. The strength that JPMorgan chase has is the relative ability and strength of deposits which Chase can use to fund its business.This is one advantage banks like Lehman brothers that went under during the financial crisis may not have had. The three areas we see as the strongest aspe ct of JPMorgan Chase is high balance of deposits with the bank in the amount of 85,279,000,000 which shows the relative confidence the market in JPMorgan. Cash deposits are particularly important to banks because they use this morning to lend out for interest and other related fees. The 2011 balance show retained earnings in the amount $88,315,000,000 and retained earning $73,998,000,000 on the 2010 balance sheets respectively.This is important because it shows that JPMorgan Chase have enough resources to fund it operations and enough left over to reinvest into the business for future growth. The Debt to Total Asset ratio was 91. 8% 2011 and 91. 6% 2010 respectively showing that JPMorgan Chase has more Assets than Liabilities which should help the firm raise financing from the markets . should there be a need. This always a good indication to the investors that there investment is covered should the company goes into liquidation.One of the biggest weaknesses we identified was the re lative number of law suits and the amount funds that is being spent on settling law suits. Though the Debt income ratio is way better than most of the banks in its industry, we believe it would be helpful to bring the amount of leverage down to somewhere around . 075 % to better absorb economic shocks in the larger economy. We are very optimistic for the future of JPMorgan Chase especially as the mortgage industry bottom out and American economy continues creating jobs;we will see banks start do declare above average profits. The firm’s Stock price at 43. 4 is performing relatively better than it competitors like Bank of America at 8. 8 and Citi group at 34 indicating that investors still have confidence in the company. We would not invest in the stock of JPMorgan Chase stock at the moment even if we had money available to invest because we strongly feel that JPM Morgan already a very mature company and does not offer much potential for growth. We would instead invest in comp etitors such Capital One Corp. which is a relatively small and growing company with enough potential for growth. There stock price also now at 53 has performed better than JPMorgan Chase over the past year.

Essay On Cultural Identity - 1114 Words

Culture identity development is an important part of every life due the emergence of self through primary and sociocultural contexts (Ecklund, 2016). These stages of development are made up of either a dominant or a non-dominant group and intersectional adaptation. More specifically, cultural identity is a self-construct where individuals share the same culture, which causes them to attribute themselves to that group (Ecklund, 2016). Being a part of the dominant culture in the United States has opened my eyes to the privilege and disadvantages of being a Euro-American female. Through developmental status and coping strategies, diversity discomfort, intersectional dynamics, and vulnerabilities in discomfort I have developed have a greater†¦show more content†¦My immersion/emersion status is still developing because I am still actively learning and understanding the differences between the dominant and non-dominant groups. I am also a part of the autonomy status because I emb race my intersecting identities because I am able understand culture through a complex lens. While, expanding my understandings of other cultures and how they are different from my own. Cultural coping strategies are the mental or behavioral actions that people use to navigate, manage their stress or dealing with a stressful situation (Ecklund, 2016). There are four types of coping strategies avoidance, activism, rationalization, and color consciousness. My own cultural coping styles include avoidance and rationalization. I am often aware of situations such as racism and more, but I avoid the topic because it is easier to me to now revolve an ever-ending topic. Furthermore, although talking helps individuals understand your stance, much like Martin Luther King Jr. it is a movement like that that can move mountains, but I do not believe I am such an advocate. I use rationalization when it comes to certain situations. Most often, when I am around others who are not of the same culture , leads me to adapt to the situation from prior knowledge. Diversity discomfort management dynamics and patterns involve denial, defensiveness, devaluing, discovery, and cultural collusion. CulturalShow MoreRelatedEssay On Cultural Identity1156 Words   |  5 PagesDevelopmental Psychologists have long professed the importance of developing one’s own identity. This identity should have many aspects which are largely independent of one another. These can include a spiritual identity, a political identity, and a cultural identity. It is for this reason that when Americans should ask themselves: What is American? To probe this question we should not only consult ourselves, but consult the great writers of our nation’s genesis. 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While there are plenty of positive ideas, there are also an unhealthy amount of negative ones. Unfortunately, more people follow along with the negative than the positive, which has been causing major conflicts around the world for centuries. Many believe that one s cultural background will not affect their views on others with the fact that not everyone follows the beliefs

How the Theme of Knowledge Helps to Explain Frankenstein...

Frankenstein, by Mary Shelly, raises important questions as to how the theme of knowledge helps to explain the story. The main focus of Frankenstein is the power of knowledge and how dangerous it can be. This power is portrayed in the main characters of the novel: Victor Frankenstein and the monster. The theme of knowledge helps to answer the question as to why Victor decides to tell Walton his secret. Both of these characters reveal a passion of discovery and intellect, which Victor has made his past and Walton only his future. Their obsessions of knowledge are mirrored in one another through the journeys they take until their paths cross. Finally, the question of the concluding effect of the conversation between Walton and the creature†¦show more content†¦He is so consumed by keeping his secret safe; his loved ones are murdered as a result. For example, Henry Clervel has his life taken as an outcome of Victor’s betrayal to the creature. Victor’s failure to w arn Henry creates increasing guilt which continues until the death of Elizabeth. He thinks of himself instead of logically warning his wife of the monster’s dangerous threats, â€Å"I shall be with you on your wedding-night.† (176) Right until Victor’s death, science is viewed as the only way of knowledge, as quoted, â€Å"the more fully I entered into the science, the more exclusively I pursued it for its own sake.† (77) This knowledge is ultimately used against him; the monster knows what Victor is capable of and uses his ability of creating life as a threat to make a new creature to acquaint the monster. As Victor contemplates this idea, he is also threatened by the possibility of new life being created, â€Å"†¦ a race of devils would be propagated upon the earth† (174) which dictate his actions in destroying the wife of the creature. Knowledge ultimately consumes Victor. The power of knowledge is portrayed in the monster because of his ability in absorbing intelligence from the environment and applying it to the applicable situations. Victor built the creature as an overgrown, hideous â€Å"baby† with immense physical traits. Victor quotes, â€Å"I had been the author of unalterableShow MoreRelatedApplying Ericksons Theory to Mary Shelley and Her Writing860 Words   |  3 PagesSherry Ginn’s â€Å"Science, Science Fiction, or Autobiography?† effectively uses Erik Erikson’s theory of psychosocial development and the story of Shelly’s life background, to explain how Marry Shelly’s absence of maternal and parental upbringing caused her to implement the philosophies in the novel Frankenstein. Erikson’s theory says that there are eight human steps one will face from infancy to adult hood. The steps will approach as one confronts a conflict. If he/she can overcome the conflict, itRead MoreReview Of Franke nstein By Thomas C. Foster2003 Words   |  9 PagesHow to read Literature like a Professor by Thomas C. Foster guides the reader to a better understanding of the Novel as whole and characters as individuals. Frankenstein by Marry Shelly can be easily broken down into pieces with certain chapters of â€Å"how to read literature like a professor† and able to see the real theme of the novel. Frankenstein is a frame story where the author Mary Shelley sets up a main character that sets the scene by telling story and we find another character or charactersRead MoreThe Types Of Knowledge And Knowledge Essay1196 Words   |  5 Pagesunderstand different forms of knowledge as well as the ability to differentiate between the types of knowledge is very vital in day to day life. Different philosophers have discovered different types of knowledge including personal knowledge, procedural knowledge and propositional knowledge. 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As she grew up, she becameRead More Mary Shelleys Frankenstein and Satanic-Promethean Ideals Essay2862 Words   |  12 PagesMary Shelleys Frankenstein and Satanic-Promethean Ideals      Ã‚  Ã‚   Mary Shelleys Frankenstein is a novel in conscious dialogue with canonical classics and contemporary works. It contains references to Coleridge, Wordsworth, and P. B. Shelley, but also to Cervantes and Milton. It is the latters Paradise Lost which informs the themes and structure of the novel more than any other source. Like many of her contemporaries, Mary Shelley draws parallels between Miltons Satan and the Titan PrometheusRead MoreWrite an Essay on the Relationship Between Frankenstein and the Creature, and Compare/Contrast Their Relationship with That Exhibited Between Two Other Characters in One Other Text.2328 Words   |  10 Pagesin two different books. 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Ramsay Bolton The Invention Bastard Son Of Roose Bolton,...

Ramsay Bolton is the legitimized bastard son of Roose bolton, lord of the dreadfort, and the unidentified wife of a miller. Roose found out that the miller had wed illegally, so he had him hanged and raped his wife. Later on the wife comes to the dreadfort and presents Ramsay to Roose, after almost killing them both, Roose acknowledges Ramsay as his son. Ramsay is raised by his mother during early childhood, but then somehow comes into the care of Roose. In Roose’s care Ramsay gets a proper education where he learns to read and write. Ramsay’s half-brother and the only heir to house Bolton, Domeric suspiciously died of intestinal issues during his teen years, some suspect Ramsay poisoned him, but there is no confirmation. Ramsay’s first†¦show more content†¦Almost every action Ramsay takes is unlawful. The only reason he did not rot in a jail cell was because his father was the warden of the north and a very powerful man. If Ramsay lived in today s society, he would surely be incarcerated Number two, deceitfulness, as indicated by repeated lying, use of aliases, or conning others for personal gain. When Ramsay’s lackeys intally begin the torturing of Theon, Ramsay disguises himself as a servant boy. In the middle of the night Ramsay frees Theon and tells him that he is a friend sent by Theon’s sister and is here to rescue him. While trying to escape Theon is recaptured by Ramsay’s men who prepare to rape him as punishment for trying to escape. Ramsys dispatches these men(his own men) with arrows, building more trust between Ramsay and Theon. Ramsay tells Theon that he is leading him to deepwood motte where Theon’s sister resides. After ushering him into a room, Theon realizes that he is back in his torture chamber that he had just escaped. Theon is restrained once again and Ramsay reveals that he is actually an enemy. Number three, impulsivity or failure to plan ahead. Ramsay is very impulsive, never looking far into the future to see what his actions might cause, much to his father s dismay. When a Lord under the boltons refuses to pay taxes and insults the boltons, Ramsay flays the lord alive along with his wife and brother while forcing his son to watch, and puts the corpses on

Role of The Supply Chain Planning Samples †MyAssignmenthelp.com

Question: Discuss about the Role of The Supply Chain Planning. Answer: Introduction Supply chain management is defined as the process of interconnection of different organizations that relate with one another through the help of upstream and downstream linkages between the different processes that will help in producing value to the customers in the form of products and services. The proper role of supply chain planning and control has to be analyzed in the competitive business environment. The role of the Supply Chain Planning and control has to b analyzed as this will help in gaining proper competitive advantage as well. Supply chain management is a holistic approach that helps in managing across the boundaries of the company and in the large companies there can be hundred strands of linked operations that are passing through operation. These are the strands that are commonly referred to as Supply Chain. The main objective of the supply chain management is to satisfy the end customers and each of the operations in the supply chain management has to properly satisfy the customers. Objectives of Supply Chain There are different requirements of the supply chain management that includes proper meeting of the requirements of the end customers. There are five operations performance objectives that are as follows: Firstly, the quality has to be properly maintained when it reaches the customers as this is quality performance function of each and every operation in the chain. The different kinds of error in each and every stage of the supply chain have the ability to multiply the effect on the service that is provided to the end customers (Beske and Seuring 2014). Therefore, it is the responsibility of the suppliers to perform better as this will help in achieving high supply chain management and satisfy the end customers as well. Secondly, the speed is another objective in the supply chain management wherein the customers are required to be served first and meet the requirements of the customer as well (Brindley 2017). Thirdly, the flexibility is essential in the supply chain planning and control as this will help in providing ability to cope up with different disturbances and changes. This is also termed as agility in the supply chain management. The supply chains that are agile in nature are flexible sufficiently as this copes up with changes either in the form of nature of customer demands or according to operation capabilities within the operation (Brandenburg eta l. 2014). Lastly, the cost is essential objective of the supply chain management wherein it includes cost of finding appropriate suppliers, monitoring proper performance of the suppliers and holding inventories as well (Christopher 2017). Supply chain Planning and control system A proper planning and control system is required and is essential in nature for different companies that include JIT and MRP systems. In different businesses, there are different requirements of supply chain management that has to be followed as this will help in providing right kind of services to the customers (Monczka et al. 2015). JIT is a pull system that helps in providing good quality products to the customers and this will help in achieving cost effective production as well. JIT is an ideal system for the industry that deals with food and beverages. JIT helps in reducing the waste of the lead time that takes place in warehouses; it helps in increasing the flexibility in the entire process and provides proper quality products to the customers as well (Wisner, Tan and Leong 2014). Furthermore, there is an appropriate system of structure for the downstream supply chain activities that helps in moving the product to the end customers. In different companies, raw materials need to be properly supplied by extractor in exact amounts to manufacturer. This is the duty of the manufacturers to produce different kind of innovative products and moves to the distributor who are the ones to deliver it to the retailer (Seuring 2013). The supply chain planning and control can be explained with the help of a diagram: Proper selection of supplier The companies need to appropriately choose the suppliers that should properly involve trading off attributes that are alternative in nature (Ellram and Cooper 2014). The demand management is defined as the proper identification of the orders of the customers as well as making forecasting sales that are accurate in nature. The different companies need to response to the orders of the customers that is efficient and effective in nature. Supply chain management helps in boosting the customer service as the customers expect that the orders should be delivered to them in the right time at the right place. Proper supply chain planning and control helps in decreasing the cost of purchasing as well as the cost of production. Supply Chain Management helps in improving the financial condition of the companies as well (Stadtler 2015). Supply chain management helps in increasing the leverage of profit and decreases the fixed assets as well. SCM helps in improving the standard of life as well as it is the foundation of the economic growth as companies require proper and developed supply chain infrastructure that has vast retailed system. These kind of supply chain management helps in exchanging the goods and services between businesses and consumers at a low cost and this is quick in nature as well. Importance of Supply Chain Planning and Control in Companies In todays world, the climate of the business world is changing drastically and it has become more competitive in nature as well (Ahi and Searcy 2013). The different businesses have to properly develop the core competencies as this will help in distinguishing themselves from other competitors in the market. In order to create a proper competitive advantage, it is essential in nature for the companies to divert the resources and focus on their tasks that can be best performed by them. The supply chain management has allowed the companies in the competitive world to rethink the entire operation as well as restructure it properly as this will help them in focusing on the core competencies as well as outsource the processes that are not included within the competencies of the company. Supply Chain Management helps the companies in setting up their own competencies in the competitive world and this will not have any impact on the positioning in the market as well. SCM has properly allowed business to acquire both productivity and competitive advantage and there are different strategies that have been applied for reducing the cost as well as improving the services provided to the customers. The advantage that is related to productivity helps in providing lower profile of cost as well as value advantage as this provides proper product offering as well as competitive offerings. With the help of maximizing the added value, more innovation is added to the product as well as the entire process. With proper usage of the supply chain management, it helps in improving the product life cycle and this changes the norms of traditional offerings as well. With the proper implementation of Supply Chain Management Planning and Control, accepted offerings by the industry to the dif ferent customers would be variety of different products that are catered to market segments as well as preferences of the customers. Conclusion Therefore, it can be inferred that proper planning and control system is essential for different kinds of business organizations as this helps in increasing the competitive advantage and maximize the profitability along with level of inventory. Supply Chain Management is a dynamic system that helps in integration of each process effectively as this helps in fulfilling the objectives of the organization and drives the organization in reaching perfect performance in the future. Furthermore, MRP and JIT are the different systems that can be used by the different companies in order to run the business smoothly without any kind of interruption in the whole system. Therefore, these are the systems that can control as well as plan different stages in the process of manufacturing and this makes proper adjustments wherein it is required by the companies. The Supply Chain Management Planning and Control helps in reducing the distribution costs, helps in reducing lead time consumptions as well as reach high quality in the production. References Ahi, P. and Searcy, C., 2013. A comparative literature analysis of definitions for green and sustainable supply chain management.Journal of Cleaner Production,52, pp.329-341. Beske, P. and Seuring, S., 2014. Putting sustainability into supply chain management.Supply Chain Management: an international journal,19(3), pp.322-331. Brandenburg, M., Govindan, K., Sarkis, J. and Seuring, S., 2014. Quantitative models for sustainable supply chain management: Developments and directions.European Journal of Operational Research,233(2), pp.299-312. Brindley, C. ed., 2017.Supply chain risk. Taylor Francis. Christopher, M., 2016.Logistics supply chain management. Pearson UK. Ellram, L.M. and Cooper, M.C., 2014. Supply chain management: It's all about the journey, not the destination.Journal of Supply Chain Management,50(1), pp.8-20. Monczka, R.M., Handfield, R.B., Giunipero, L.C. and Patterson, J.L., 2015.Purchasing and supply chain management. Cengage Learning. Seuring, S., 2013. A review of modeling approaches for sustainable supply chain management.Decision support systems,54(4), pp.1513-1520. Stadtler, H., 2015. Supply chain management: An overview. InSupply chain management and advanced planning(pp. 3-28). Springer Berlin Heidelberg. Wisner, J.D., Tan, K.C. and Leong, G.K., 2014.Principles of supply chain management: A balanced approach. Cengage Learning.

The Success International Company

Introduction The Success International Company has managed to expand its business given that the aim of every business operation is to increase productivity. However, the expansion of its business operation has necessitated an increase in labor.Advertising We will write a custom report sample on The Success International Company specifically for you for only $16.05 $11/page Learn More As a result, the company has been characterized by work overlap that tends to create a challenge while handling a proper communication channel between various departments of the company, as well as between the workers and the customers. This stems from the fact that the company has an obligation of keeping a wide range of information pertaining to its customers, business trends, as well as its profit margin. Using paper work to convey such information is ineffective since it is vulnerable to errors that normally emanate from handwriting, lack of privacy, and lack of a syste m that helps to evaluate the letters, invoices, or purchases orders that need urgent attention (Rahman 13). Therefore, a balance that bridges the communication gap amongst members of various disciplines and between the company and its customers must be sought in order to avert this discrepancy. Because of this, it was expected that adopting automation system would facilitate company’s operations and communication channels. But the question of how to adopt automation system surfaced due to the logistics involved in it. This report primarily concentrates on evaluating the major shortcomings that emanate from paperwork. It then provides a recommendation of adopting automation system from paperwork to supply answers as to what extent the automation system has on improving the company’s operations and communication channels. It does so by carrying out interviews with the staff, as well as analyzing relevant articles in a bid to evaluate the factors that facilitate a success ful transition from paperwork to the automated system. Findings And Conclusion Research Methods on Elements of Problems in Task Functions Errors in the Success International Company were attributed to a number of factors. While some errors emanated from the work practices, others emanated from relationship between the workers, as well as relationship between the workers and the customers. Informational and grammatical errors are prevalent in the working environment due to lack of a system that helps to avert the situation.Advertising Looking for report on business communication? Let's see if we can help you! Get your first paper with 15% OFF Learn More For case in point, grammatical mistakes emanating from poor handwriting, such as popper instead of paper, have led to writing incorrect invoices. The informational errors, such as wrong placements of decimal points while placing the cost of the products, have resulted to a discrepancy in the operation system. Additionall y, the Success International Company lacked a clear idea that could create awareness of environmental damage caused by business practices and processes. An ethnographic study aimed at evaluating the causes of errors in paperwork found out that informational and grammatical errors were common in the Success International Company. The findings, according to the study, reveal that one in every five invoices was characterized by spelling mistakes, leading to incorrect delivery; one in every five job rotations was characterized by poor allocation of staff, leading to work overlap; and one out of five processed bills was characterized by incorrect billing. Mikeln (879) points out the efficacy of replacing the paperwork with automated system. His article plays a critical role in highlighting the shortcomings associated with the use of paperwork, especially in small companies. And in a bid to promote the use of automated systems in various companies, this article was used to facilitate adop tion of automated systems, as it provides analyses of problems while using paperwork systems. More so, it provides guidelines on how to adopt an automated system easily at a minimum cost, taking into account the conservation of environment. Hence, this article, together with other articles and books, formed the center stage of analyzing the causes of errors in the Success International Company.Advertising We will write a custom report sample on The Success International Company specifically for you for only $16.05 $11/page Learn More Analysis of Causes of Errors in the Task Functions Before coming up with a proposed plan for addressing this problem, it was vital to carry out an investigation of the problem in order address it in a comprehensive manner. The investigation of this problem involved assessing the validity of having a good workflow, assessing the validity of reducing ambiguous terms while handling business transactions, and assessing the rati onale behind protecting information. The procedure and data collection method used entailed content analysis, which helped in defining the extent to which paperwork contribute to ineffectiveness while carrying out business operations. This was followed by determining the evidence that demonstrated the challenges of adopting an automated system. These ideas were organized, and they formed the basis for coming up with the questionnaire that was used in the case study. Through these methods, the researcher was able to identify the main causes of errors: Lack of sharing honest information: By using paper work, the high workload in the Success International Company resulted to barriers to a point where some workers were not sure of the day or night shifts they had attended within a particular week. In such a case, retrieving evidence became so strenuous that the management tended to believe on the allegations of the worker in question; Lack of interpersonal relation: this emanated from lack of an effective decision support system that could guide the workflow process. The decision support mechanism, in this case, helps to prompt and give an alert where the workers are not complying with professional terms used in invoices or suppliers accounts (Luster 78-81). Lack of highlighting the company’s mission: this is evidenced by the fact that the company was not in a position of prioritizing on the letters that required immediate attention. Highlighting the mission helps in coming up with a criteria of handling letters despite their bulkiness. Recommendation Using an Automated System Software To avert these discrepancies, the president of the Success International Company is required to adopt an automated system that would facilitate effectiveness on the following areas: Increased savings on material cost as it facilitates reduction of delivery cost that results from inappropriate product descriptions; Reduces costs that are associated with diverse steps of pap erwork inventory; Increase financial productivity due to elimination of billing errors and work overlap; Ensures adequate supply of commodity at all times due to increased accuracy of product descriptions (Luster 97-104). Building a Better Dialogue Honesty is a decision support necessary for every leader when he/she intends to break news to members of an organization. Therefore, the president of the Success International Company should exercise effective communication skills in a manner that takes into account the attainment of a smooth transition of operation from paperwork to adoption of automated systems. Decision support is a prerequisite for adopting the automated system, as this would facilitate cost effective measures. In turn, this creates comfort among the members of the staff, as it facilitates establishment of an environment in which personal differences from diverse backgrounds are clearly analyzed. Using a Checklist Adapting to the new changes calls for arrangements th at need to be properly defined since the rate at which change is implemented can result to either negative or positive morale of the staff members. The president of the Success International Company should provide an avenue for a transition that takes into account the management of workload with respect to the company’s mission.Advertising Looking for report on business communication? Let's see if we can help you! Get your first paper with 15% OFF Learn More The projection of cost can be achieved through a management cost and control system, as shown in Table A below. Additionally, the president should collaborate with diverse stakeholders, including the environmental regulatory authority, as they facilitate awareness on environmental damage caused by business practices and processes overtime (Johnson 194). Works Cited Johnson, Jeremiah. â€Å"Transforming Sustainability Strategy into Action: the Chemical Industry.† Ecological Economics : the Journal of the International Society for Ecological Economics. 61.1 (2007): 194. Print. Luster, Stephen. Paperless Material Inspection and Receiving Report: a Strategy to Streamline Acquisition and Reduce Paperwork. Ft. Belvoir: Defense Technical Information Center, 1991. Mikeln, Peter. â€Å"Analysis of Information Flows for the Needs of Factory of Future.† Proceedings of International Conference on Organization and Information Systems. (1989): 874-884. Print. Rahman, Hakikur. Inform ation and Communication Technologies for Economic and Regional Developments. Hershey: Idea Group Pub, 2007. Print. This report on The Success International Company was written and submitted by user Cypher to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.