College Really Is Not a Waste of Time Essay - 792 Words

College Really Is Not a Waste of Time Although many people see college as a pathway to success, it is not for everyone. Many people make the decision to go to college because they want more out of life than what a regular day job has to offer. Sure McDonald’s could pay the bills but most people want a stable life. Most people would like to see themselves doing better than â€Å"well off†. College may often seem like a waste of time and money but receiving a degree is rewarding. With the degree in hand a person will be first in line for the best jobs after college or the college you attend has a wonderful job placement after school. College prepares you for the real world and offers opportunities to achieve more in life. Of course there are a†¦show more content†¦Most people do not consider things such as these because they focus more on the cost of school which is understandable considering our economy. College can be outrageously expensive depending on your ch oice of college but there are things like financial aid which is helpful. There are also many different scholarships and grants to consider. A student is not guaranteed any of these but applying for these opportunity may not hurt. If anything, the students has a better chance not having to pay for school. There are plenty of scholarships that go unnoticed, it just takes determination and hard work. Colleges also offer different payment plans so aside of scholarships and grants, there’s always part time jobs. Fast food restaurants may not pay enough for a full education or cost of living but every little thing counts. That’s less than a student has to pay back later considering that the cost is one of the biggest reasons people choose not to go. As high school graduates, it is a tough decision, choosing to go to college because we often believe that those â€Å"12 years† were enough. 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The War On Drugs Has Been All Over The World - 1726 Words

The war on drugs has been all over the world for the past several decades, country to country and region to region. When you really think about it each and every place at one point in time has had the trouble of facing the many negatives that come along with drugs such as people becoming addicts, violence, and crime in general, drug lords, and a plethora of other problems. Handling these problems before they get out of hand are relatively important, because if not handled right the country, region, state, or local municipality could collapse at any given time. Mexico, who has been handling a drug war this past decade seems as if they are not getting better any time soon and serious repercussions will come of this if something doesn’t†¦show more content†¦Besides murders there has been a collection of other ways that this has been traumatic for lots of the innocent population in Mexico. A lot of the killings/mass murder and gruesome ways these cartels manage to ha ndle their victims are of public display which leave a terrible image in a lot of people’s heads. This has grown a national sense of thousands of people feeling unsafe within their own neighborhoods since this drug war begun. In fact, â€Å"Nationally representative victimization surveys show that the percentage of adults who feel the state in which they live is unsafe rose from 54% in 2004 to 65% in 2009, while the percentage of individuals who feel their work is unsafe rose from 13.7% to 19%† (Colgate). These numbers can lead to several different problems starting with the workforce. If someone continues to feel unsafe at their job they are probably not going to be there very long. This belief could lead to a huge drop in production for the country as a whole, and leave several people in their homes unwilling to buy goods or work a job that could mean the end of their life. Economically, having people feel unsafe in the country they live in leads to a disrupti on on many accounts financially. Politically, the country of Mexico has changed a lot since the rise of Mexican and Drug violence also. Since the rise of drug and gang problems, the press has been surveyed a lot differently than prior

3 Causes Of The Great Depression Essay Example For Students

3 Causes Of The Great Depression Essay Nationalism, militarism, imperialism, and the system of alliances were fourmain factors that pressed the great powers towards this explosive war.(Clock Magazine, 1915 Aug. 17). Although Francis Ferdinand wasassassinated and sparked the beginning of the war, this however was not themain cause. The four major roles that played in the cause of World War Iwere Nationalism, Militarism, Imperialism, and the Alliance System. Nationalism: a philosophy that is purely focused on patriotism,loyalty to ones nation and seeing its nation as the superior nation. Inexample of a nationalistic cause in the war, Austria-Hungary was gettingapprehensive when the Slavs in northern part of their empire wanted tounite with Serbia. Of course, having a strong nationalism in Austria-Hungary, Austria-Hungary started being concerned. They did not want tolose their land and power to Serbia, and sooner or later, this lead toAustria preparing themselves for a conflict/battle in case it ever brokeout. Militarism: a philosophy that bases ones organization purely on thestrict ideas of strong military, control over aggression, and massproduction of weaponry and any other military supplies. The first conflictstarted when Germany became jealous of Great Britains Navy and theirincreased naval production. At the time, Britain had the best all-aroundNavy in Europe, including the dreadnoughts; a ship designed to be superiorto any other ever constructed. Threatened by this, Germany started a huge,mass production of weaponry, ships, and any other military means that meantconflict. Doing so, Germany wished to go in competition against Britainand their Navy, and hopefully scare them into submission. Imperialism: a philosophy stating that, to create or reform a countryinto a powerful country, it must take over all means of political,economical and military status of another country through aggression. Europe at this time was very focused on imperialism. The entire strugglefor power, wealth and superiority can be pinpointed by this concept. Countries in Europe had colonies almost in every continent during this time(mostly Africa and Southeast Asia). The numbers of colonies grew massivelyin a very short amount of time. Sooner or later, conflicts andcompetitions started rising when colonies were fighting over the areas theycolonized over. Some fought because another colony invaded them, somefought to take over a colony, and some fought just because their countrieswere involved in conflict due to militarism and other issues. The Alliance System played a major role in the World War. Perhaps wecan label the alliance system as the conflict itself. That is becausethere were 2 alliance systems during the World War and those two allieswere the two sides that fought each other in World War I. First was theTriple Entente, which consisted of Great Britain, France and Russia. Theother was called the Triple Alliance, which consisted of Austria-Hungary,Germany and Italy. Initially, Germany formed the Triple Alliance withAustria and Italy. France immediately felt threatened and formed analliance with Great Britain and Russia. The two alliances swore to eachother that when one of the members of the alliance was threatened orattacked, the alliance would come and aid them. Such idea like this playedin the part of the chain reaction leading to World War One.

Contract to Legitimacy Theory in Accountingâ€Myassignmenrhelp.Com

Question: Discuss About The Contract To Legitimacy Theory In Accounting? Answer: Introduction Social contract is basically an age old theory which states that an individuals ethical and/or political responsibilities are based upon an agreement among them to form a society in which they reside. Thus it can be construed that as per the social contract theory, moral and ethical codes are the principles, all reasonable individual would agree to and also make it a part of their lives, but only if they would be able to trust on other people also to follow the same. The said theory can be useful in examining queries related to the business ethics. It is an invisible arrangement which mentions that one should not contravene the moral rules and guidelines. There are three mainstream theories of business ethics, stockholder theory which states that an organization has no moral responsibility towards the society but to earn maximum gains by performing the business operations in an ethical manner, social contract theory states that business enterprises work under an unwritten agreement w ith the society as a whole wherein the community gives permission to the enterprise to conduct a business activity under such circumstances which is the most beneficiary for the society and third is the stakeholder theory which states that one of the ethical responsibilities of an enterprise is that they are obligated to all those who have a stake in the final results of the activities undertaken by the company which comprises of staff members, the society as well as the surroundings and the stockholders (Thompson 2016). The report focuses upon explaining the importance and application of social contract to the Legitimacy Theory in accounting. It discusses what does the said theory connote and how is it related to the accounting field. Further the report also analysis the relationship between social contract and accounting. Legitimacy Theory In Accounting The increasing body of literature diverges its focus towards the corporate social accounting and reporting problems. The new economic, social and environmental confronts order to the enterprises and the government enterprises as well to pay heed and respect to the rules, regulations, morals and standards and to willingly release societal and environmental data so as to investigate their adherence. Thus the Legitimacy Theory conducts the role of an acceptable aspect for the revelation of the environmental data. Not to ignore, the global financial crisis occurred in 2008 which led to the shakiness in the financial markets as well as the economy as a whole, demands from the companies to re-consider their moral systems and to emphasise the significance of authenticity. The association of the corporeal financial resources with the ethereal legitimacy resources is crucial for formation of a fresh vision for all organizations (Burlea Popa 2013). However various economists and scholars have criticised the said theory. Legitimacy is a comprehensive awareness about the activities conducted by an entity and whether the same is acceptable, proper and apt within certain socially constructed system of customs, standards, philosophies and descriptions. Thus it can be rightly said that a legitimacy theory has the main part of amplifying the performance of the businesses in employing and developing deliberate and chosen social and ecological revelation of information so as to accomplish their social contract that facilitates the acknowledgment of their objectives and the endurance in an unstable scenario. The said theory has a very deep rooted past which is related to the management theory, institutional theory and stakeholder theory. Advantageously speaking, the sustainability of the legitimacy theory is dependent upon the management tradition that links the old methods and ways with the current modern ethical stances. Therefore, to put the same in simple words, one can dictate that legality counter measu res the fact that entities change their reporting procedures and strategies, and so as to point out that they are operating in a way which is in accordance to the repositioning in societys social precedence and prospects. Legitimacy is very important to follow while accounting for the transactions and various other financial data which is relevant for the society as if the same is not maintained and moulded as per personal needs, then the same may lead to breaking of the invisible social contract terms and conditions and also in some cases leading to an economic downturn. Thus social contract to legitimacy theory in accounting is now a must so as to ensure that the accounting is done keeping in mind not only staying within the lawful fencing but also considering he impact it would have on the society as a whole. Legitimacy Not One Theory But Two Legitimacy theory has dual theories not one. First is the macro theory of legitimation which is named as Institutional Legitimacy Theory which speaks about the entire structure of an organization and how the same is accepted by the society. With regards accounting perspective, the present condition of a business environment which comprises of the capitalist structure as well is generally considered to be a motionless circumstance inside which the investigation is situated. The second is the Strategic Legitimacy Theory wherein the enterprise desires for permissions from the various communities within a society. Accounting for legitimacy is difficult, however the same can be done from the fact as to by being legitimate, how an entity is being able to attract such resources which are compulsory for the endurance (Tilling, 2004). Relevance Of Social Contract To Legitimacy Theory In Accounting The importance of social contract to the legitimacy theory in accounting cannot be under estimated, especially after the collapse of Lehman Brothers in 2008. The organizations are now required to become more transparent while accounting for the various transactions. Further to this, the entities are also bound by an ethical duty to report in their accounting statements data about the environment in which they operate. However, it would be incorrect to consider the same as inclusion of more regulation but a way of reporting about the trueness and fairness of the accounts. If the entities do not comply with the terms and conditions of the social contract then they would not be accepted by the society and their survival will be at stake. The collapse of Lehman Brothers which was basically due to presentation of a rosy picture of accounting statements, thus misleading the investors and harming the society as a whole, bought the said theory in vogue wherein the social contract should be a dhered to while accounting the transactions (Abeysekera,2003). By the term legitimacy we mean legal or something that is within the law and the theory on the same is basically concentrated between the business entity and the society. The consumers expect the organisations to work in a legitimate manner and at the same time the corporations are expected to participate in resolving various social and environmental problems (ODonovan, 2000). The legitimacy theory posits that the legality of an organization to work within a society is dependent upon an unspoken societal treaty flanked by the business entity and the society. Legitimacy theory pre-empts that the business houses perform in an ethical way within the social boundaries. The various business entities make all efforts to institute equivalence amongst the social norms and beliefs which are associated with or implied by their actions and the rules and regulations with regards satisfactory performance within the larger social system to which they belong. Steady with the above mentioned view point, the accounting of the assets is a legitimating establishment and provides a way through which the social values are related with the financial and fiscal activities (Lindgreen et.al. 2008) . As early as the 80s, the legitimacy theory has been applied by the researchers who basically concentrate upon examination of the social stances, specifically pointing towards environmental accounting practice. For example the steel companies were examined longitudinally wherein certain variations were discovered with regards the corporate social reporting. Whereas one research confirmed with regards the legality account, the other failed to disclose the disparities in the admissions at BHP (Faisal et.al. 2004). As stated, the relevance cannot be over-emphasized, but however the organizations in todays scenario recognize the requirements of the society with regards the information about how the company is complying with the social contract and transmitting the said information in a tactical manner so that it is confirmed that the same is in line to the desires of the society. Thus this enables in formulation of an image via communication of the information to the society. The said stand point is held up by legitimacy theory as well. However, such a disclosure is not mandatory until and unless the relevance of the same is questioned by any segment of the community with regards the accuracy of the results. Therefore it can be interpreted as, if the societys perception of a business entity is at par with the way the organization desires to be perceived, there exists to be no differentiation to the legitimacy gap (Collins 2012). Thus it does not call for any motivation for disclosures or demandi ng to legalise any such results or aims of the business entity. The fact that legitimacy theory offers the researchers and the social order as a whole, a method of essentially unloading corporate confessions. But the accepting and learning of the hypothesis must become more difficult and complicated, depicting on improvements both within the accounting literature and further. It is only ten when the entire latent of legitimacy theory for probing a huge number of disclosures be realised in totality (Patten, 1991). Some of the industries wherein the relevance of the social contract in legitimacy theory in accounting can be emphasized are the asbestos industry since it has to undergo a disestablishment phase, brothels since they have become more legal as per the Australian scenario and the forest industry since it is always on the verge of defending legitimacy. However the list does not end here. The data that would be disseminated will help to give a more clearer picture and also more detailed information so as to inform decision making by the vari ous stakeholders (Wambi 2015). Thus in this context it can be rightly connoted that the society has a much larger and a prominent role to play over looking at how the resources are being utilised. The social contract to legitimacy theory in accounting gave rise to the corporate sustainability reporting (CSR). It is basically the duty of all corporates towards the society in which they dwell. It is an commitment of the businessmen to ensure that such policies and procedures are being followed which are as per the requirements of the objectives and the aims of the society. It however covers financial, legitimate, principled as well as flexible expectations that the society has from the various organizations at a particular point of time. CSR is crude terms is how an organizations conducts its business processes so as to ensure that the end result is optimistic on the society (Suchman, 1995). Further to this, the companies are required to notify and pen down about the quality of the management which comprises of individuals as well as procedures and also the type of and quantity of their implications on the community which are a part of distinguishing areas. Thus the legitimacy t heory enables the companies to feel obliged while taking into account the interest of the various sections of the society i.e. customers, employees, government as well as ecological conditions in various parts of their operations (Jupe, 2005). The existence of a social contract, makes the business entities realise that they have dual responsibility of earning profits as well as functioning ethically within the social boundaries. The financial responsibility and duty of the management of a business organisation entails that society demands the business to manufacture and deal in such goods and services as is asked by the customers and earn a profit which is basically an incentive for the business competence and efficacy. The legitimacy theory basically calls for ensuring that the business is conducted and accounted for as per the rules of the game which protects the society as a whole. Therefore for the same, the society demands from the entities to perform their financial goals with in the guidelines put forward by the societys legitimate system (Toukabri et.al. 2014). The legitimacy theory in accounting has also pointed out disclosing not only the financial data but also the non-financial ones as many a times, the latter also has a great impact on the health f the company as well as the industry in which the company dwells. As was very evident in the case of Lehman Brothers in 2008 wherein the financial statements failed to disclose the relevant data about the firm such as the usage of Repo 105 in accounting and that too in a manipulated manner. Thus the social contract has laid emphasis upon the relevance of the non-financial information also which is also a part of the accounting of the firm, even if no specific value can be attached to the same. The relevance of such a disclosure of non-financial data is that it helps to bridge the gap of the information irregularity that lies amongst the management and main stakeholders of the firm and also to help the investors to understand the major areas of performances and get a broader picture of corpora te recital that takes into consideration the society at large as well. Social contract to legitimacy theory in accounting ensures the future of a company, as no company can survive for long if it does not adhere to the norms laid down by the society and acts in an illegal and unlawful manner. Further, if legitimacy theory in accounting is followed with regards to the fact that a company is a part of the society only and hence cannot function alone, then it would enable better positioning of the firm and good employees would be attracted to work with the firm which help in turn help reduce the employee turnover ratio and also ensure that it is being able to attract and employee better individuals from the society who would help them achieve better financial results in future (Addison, 2011). CSR disclosures in a lawful manner is important in accounting as it also helps the firm to attract more capital and also enhance the value of the shareholders investors. Lastly since legitimacy takes into the society and not just the stakeholders or the investors, legitimacy based accounting will cater to such circumstances wherein the firms have been a party to such scrupulous practices which has had an impending implication on the society and also contravened the contract terms as well. Since the legitimacy theory concentrates upon the view point of the society in which it dwells, the management of an organization are to mandatorily account and disclose such data which would alter the thoughts and opinion of the outside users towards the entity (Williams Adams,2014). Application Of Social Contract To Legitimacy Theory In Accounting Social contract to legitimacy theory in accounting is basically a way to ensure that the entities report about their sustainability in the corporate world. Sustainability reporting in the field of accounting which covers up both financial as well as non-financial metrics for the benefit of the society in which a firm resides in a legitimate way is important in the present scenario wherein the economies are in a turbulent situation. The application of the social contract varies from country to country and is also industry specific. The jurisdictional setting of the various countries are different and the said setting also has a very critical implication over the formulations of various corporate reporting variables (Wilmshurst Frost, 2000). As has been stated in the above paragraphs, the legitimacy theory is dependent upon a concept that the legality of a business organization to work within the societal fencing is dependent upon an inherent social contract between the business houses and the society. Thus its rightful application will only help to derive the required results and the same is decided basis the expectations of the society from the industries and the individual firms as well. Sensitivity, as is said to be right word, linked to the various industries is an unswerving argument with legitimacy theory (Omran Ramdhony, 2015). Considering the legitimacy theory, it is understood that the kind of industry can have a very crucial impact on the opinionated visibility and constrain admissions in order to reduce the pressure and condemnation from society. The application is said to have been successful when the value generating systems of an organization which look for legality and the social systems from which they seek legality from are congruent. The legitimacy theory is not fixed or monotonous but a continuous process via which the expected legitimacy of an entity is emerging in a non-stop manner and is reconstituted via the social surroundings. The various strategies with the help of which the corporations try to create, increment or maintain supposed legitimacy in accounting are the most crucial factors in defining the behavioural patterns of the corporate and the corporate communication as well with regards the society and the surroundings as well (Milne, and Patten, 2002). A firm accounts for its transactions both financial and non-financial in the financial statements simply because their exists a contract with the outside world which is invisible. Due to existence of such a contract, the demand for authenticity in the accounting comes into picture. Thus the application of the social contract to legitimacy theory has a direct relationship to the context as well as the audience (Deegan 2014).Todays scenario calls for accountability of an organization to the various groups of the society who normally have inconsistent views and expectations. The legitimacy of an organization is due to the social stances. It can be viewed as a discursive product which is gained and continued through social interactions. But for some few notables studies, the social contract to legitimacy theory in accounting perspective has been mainly concentrated with the spontaneous character of the managerial revelations. The organisations have a significant role to play in maintaining a social dialogue with the society in which it works as well but at the same time ensure that the legitimacy theory in accounting is also applied while adhering to the terms of the social contract. The accounting which is transparent and does not hide any material transactions or events from the society is said to have fulfilled one of the many conditions of the contract it has entered into with the society. It has commented that frequently, all are presented with reasonable explanations with regards the motivations given to the management with regards disclosures to be made, but no attention is given with regards the method by which such disclosures are to be which would or would not entail to greater accounting transparency towards the non-capital provider stakeholder groups or can rightly be said to the society who may not have contributed to the capital of the company. Thus how would the application of social contra ct to legitimacy theory in accounting can be made is yet another question unanswered. The application of triple bottom line, way of reporting helps to provide data about the economic, social as well as environmental presentation of an organisation. The said application helps to develop a relationship of the organization with the concept of sustainable development. Many business houses and the government entities have already enrolled to the said concept. (Lindblom, 1994) By social contract of an organization with the society, one means that the organisations should ensure to apply its operational activities in such a manner which is legal as well as construes to the societal norms. The business organizations have off lately altered the way they conduct their business and it is not profit centric only but also discusses about the moral responsibility they have towards the society, thus apply the same every time a new business operation is being undertaken by analysing the impact it w ould have on the society and whether the same is permitted by law (Bebbington et.al.2014). Whenever the firm notices that its legitimacy is being endangered, then it may resort towards adaptation of various tactics such as adaption of such results, aims and methods of operation which are in line to legitimacy, communicate to change and modify the definition of social legitimacy so that it conforms with the present practices adopted by the entity and make an attempt by communicating in clear terms, to become acknowledged with symbols and principles which imply legitimacy (Archel et.al. 2009). Disclosures in the annual reports are basically a strategically approach adopted to bring in legitimacy or maintain the existing one within the business entity. The media is one of the major driving factors which helps in forming the public figure of the organizations and thus disclosures in the annual reports are ways and means of getting back the lost confidence and support from the society due to the negative publicity by media (Hoque, 2006). Even though is a necessity to do maintain social relationship and ensure the same is accounted for in a legitimate manner as per the legitimacy theory, thus if a corporate makes disclosures about the legality of its transactions and its operations then the same is being done effectively since it is mainly construed to be for the continued existence and endurance or profitability stances instead of an expression towards better accountability (Ashforth, Gibbs, 1990). There are various proofs which show that various disclosures are a legitimation tool and not merely an accountability mechanism. However, the application of social contract to legitimacy theory in accounting has certain gaps to cater to. First and foremost is the measurement i.e. it is very difficult to measure and account for in value terms the social contract being adhered to, secondly, the kind of disclosures which would entail to maintenance of social contract to legitimacy theory in accounting is also questionable su ch as the methods to be used and what social groups really bestow to legitimacy, thirdly, the disclosure strategies adopted are basically guided by self interest due to which some activities undertaken by the organizations can be categorised as institutionalised instead of being driven by legitimation strategies and lastly those researchers who apply the legitimacy theory in accounting, do not take into account the activities that are concentrated at legalising the broader social system (Owen, 2008). Thus it can be narrated that the gap that exists between the application of social contract to legitimate theory in accounting lies to the fact that even though the disclosures are being made so as to educate or manoeuvre the society in a style with an intention to provide legality to the organization, the researchers failed to consider whether these disclosures will have a deeper implication with regards the efforts to legitimise specific economic, social and political systems in vogue that basically challenge and destabilise the interest of specific stakeholders such as the employees (Guthrie, and Parker, 1989). Numerous CSR studies have engaged the structure of legitimacy theory so as to inspect the expected motivations for the corporate social and environmental disclosures. For example, the incremental environment related disclosures by the petroleum companies after the Alaskan oil spill can be understood as a proof in support of t he legitimate theory (Hybels, 1995). Theories To Explain Environmental Reporting And Disclosures The legitimacy theory is considered to be one amongst the various social theories which is sustained by the notion of social contract. The same been documented as an effectual descriptive tool with regards the intention of environmental accounting by the business entities. By the said theory of legitimacy, it caters to discuss about the fact that the business entities concentrate upon legalising themselves and their activities with regards the operations as well as accountability of the transactions by working within the boundaries drawn by the society and the contract that they have with the society which is although unsigned and invisible but has a great implication (Lanis, Richardson, 2012). However it is very important to understand that the social norms is not constant and it will keep on altering depending upon the requirements, for example the reporting requirements ad usage of any accounting standard has become more stringent after the aftermath of Lehman in 2008, since it h appened due to illegal usage of Repo 105 which was a pronounced standard by the USA. Thus they failed to cater to the social contract and their responsibility towards the society and the numerous investors due to which the society suffered drastically leading to loss of many lives as well. Thus the social norms which keep o changing as per circumstances, will also lead to modification of the reporting policies and thus in this scenario will entail towards revealing data about the environment so as to conform to the social perceptions (Dunfee, 2006). It is very important to note that the legitimacy theory is not the only one theory that exists. Recommendations The legitimacy of the organizations and the way they disclose their corporate transactions in the annual reports and the websites can be utilised as a stratagem to uphold and reinstate the legality of an institute which is very crucial for the survival in todays scenario. The legitimacy which is accredited to a business entity can alter over a period of time and these corporate revelations can be used as a form of instituting, preserving and repairing any kind of legitimacy. The corporate reports published by the organizations can not be looked upon as neutral and unbiased. They are a combination of the interchange between the company and the surroundings or the society to which it is catering to. By ensuring that the disclosures are being made voluntarily without any undue influence or any stated rules and regulations, the strategy would help the firm to manipulate its relationships with the society as a whole. Working in isolation will not help an organization to reach up high in t he corporate ladder as well as be able to live for a long time (Berdufi Dushi, 2015). The boundaries and the rules are not stationary and hence the entities should be receptive to the changes occurring. It is highly recommended to ensure that the data is disclosed in conformity with the accounting standards as well as the social norms so as to institute the business authenticity. Organizations who still work only towards maximising profits although legitimately, yet have to face survival issues as the desires and demands of the public has changed and demands the corporates to even take care of the human, environmental as well as societal issues. Conclusion Thus on a concluding note it can be said that legitimacy theory basically concentrates upon highlighting the idea of a social contract which exists between the business entity and the society as a whole in which it is participating. The survival and the existence of an organization is said to be endangered if it fails to perform its activities and accounts for the same in confirmation to the societal norms and in a legitimate manner. An organization is said to have adhered to the legitimacy theory if the corporates value system is harmonizing to the value system of the broader society to which the corporate belongs. Thus it can be construed that the legitimacy theory is understood as a conception that the business entities disclose and reveal information so as to legitimise their behaviour in front of the society. Thus such disclosures in the annual statements basically points towards image building. The fact that the society plays a vital role in the survival of a company, the fact that they demand for legitimating the actions undertaken by these organizations can also not be denied. Ultimately the relevance of social contract to legitimacy theory in accounting cannot be ignored as it helps the to reveal and discuss about their sustainable actions so as to legalise their activities. The disclosures are finally made so as to cater tot he negativity entailed by the media as well as the criticisms posed by the society at large. The accounting of these activities also helps to provide a more detailed data to the various stakeholders who desire to be aware of the risk from the firms actions. Further accounting does not only ensure that which is recorded in the financials but also takes into consideration the social as well as environmental implications. Thus after various disasters both in the financial sector as well as the environmental perspective, the meaning of accounting has br oadened and is not limited to only financial disclosures but also accounting of other factors as well thus making the corporates realise and reminding them an invisible contract that they have signed with the society at large. Globalisation has in its wake brought in the demand for the said legitimacy theory else the social contract was being avoided and the organisations were not accounting in a transparent manner. References: Abeysekera, I. (2003). Accounting for intellectual assets and intellectual liabilities, Journal of Human Resource Costing Accounting. 7(3). 7-14 Addison,P. (2011). The Social Contract. Pearson Education Inc: Wesley Archel, P., Husillos, J., Larrinaga, C. and Spence, C. (2009). Social disclosure, legitimacy theory and the role of the state. Accounting, Auditing Accountability Journal, 22(8), 1284 1307. Ashforth, B. E. Gibbs, B. W. (1990). The double-edge of organizational legitimation. Organization Science, 1, 177194. Burlea,A.S., Popa,I. (2013). Legitimacy Theory. Encyclopaedia of Corporate Social responsibility. Pp. 1579-1584. Retrieved from file:///C:/Users/E-ZONE/Downloads/Legitimacy_Theory_ECSR.pdf Berdufi,N. Dushi, D. (2015). Social Contract and the Governments Legitimacy. Mediterranean Journal of Social Sciences. 6(6). 392-398. Retrieved from https://www.mcser.org/journal/index.php/mjss/article/viewFile/8033/7698 Bebbington,J. Unerman,J. ODwyer, B. (2014). Sustainability Accounting and Accountability, 2nd Edition. Routledge: New York Collins,R. (2012). Corporate Legitimacy and Environmental Reporting Deegan and Unermans (2006) contentions. Retrieved from https://richardcollinsaccountingblog.wordpress.com/2012/04/28/corporate-legitimacy-and-environmental-reporting-deegan-and-unermans-2006-contentions-3/ Deegan,C. (2014). Financial Accounting Theory. Chapter 8: Unregulated corporate reporting decisions: considerations of systems-oriented theories. Retrieved from https://www.slideshare.net/saadman672/deegan-fat4e-pptch08-51413501 Dunfee, T. (2006). A critical perspective of integrative social contracts theory: Recurring criticisms and next generation research topics. Journal of Business Ethics, 68, 303-328. Dowling, J. Pfeffer, J. (1975). Organizational legitimacy: social values and organizational behavior. Pacific Sociological Review, 18, 122136. Faisal,F. Tower,G. Rusmin,R. (2012). Legitimatising Corporate Sustainability reporting Throughout the World. Australasian Accounting, Business and Finance Journal. 6(2). 19-34. Retrieved from https://ro.uow.edu.au/cgi/viewcontent.cgi?article=1335context=aabfj Guthrie, J., and Parker, L. D. (1989), Corporate social reporting: A rebuttal of legitimacy theory. Accounting and Business Research. 9 (76), 343- 352. Hybels, R.C. (1995). On legitimacy, legitimation, and organizations: A critical review and integrative theoretical model. Academy of Management Journal, Best conference proceedings, 241-245. Hoque,Z. (2006). Methodological Issues in Accounting Research- Theories, methods and issues. Spiramus Press Ltd: London. Jupe,R.E. (2005). Disclosures in Corporate Environmental Reports : A Test of Legitimacy Theory. Retrieved from https://kar.kent.ac.uk/24451/1/91_Web_Version.pdf Lanis,R. Richardson, G. (2012). Corporate social responsibility and tax aggressiveness a test of legitimacy theory. Accounting, Auditing Accountability Journal. 26(1). Pp. 75-100. Lindblom, C.K. (1994). The implications of organizational legitimacy for corporate social performance and disclosures. Paper presented at the Critical Perspectives on Accounting Conference, New York, NY Lindgreen, A., Swaen, V., and Johnston, W. (2008). Corporate social responsibility: an empirical investigation of US organizations. Journal of Business Ethics, 46 (3), 23-29. Milne, M.J. and Patten, D. (2002). Securing organisational legitimacy: an experimental decision case examining the impact of environmental disclosures, Accounting, Auditing Accountability Journal, 15(3), 372-405. Omran,M.A. Ramdhony,D. (2015). Theoretical Perspectives on Corporate Social Responsibility Disclosure : A Critical Review. International Journal of Accounting and Financial Reporting. 5(2). Pp. 38-55. Retrieved from file:///C:/Users/E-ZONE/Downloads/Theoretical%20Perspectives%20on%20CSR%20(IJAFR%20-%20Dr.%20Omran)%20(1).pdf ODonovan,G. (2000). Legitimacy Theory As An Explanation For Corporate Environmental Disclosures. Retrieved from https://vuir.vu.edu.au/15372/1/O%27Donovan_2000compressed.pdf Owen, D. (2008), Chronicles of Wasted Time? A Personal Reflection on the Current State of, and Future Prospects for Social and Environmental Accounting Research, Accounting, Auditing and Accountability Journal, 21(2), 240-267. Patten, D.M (1991). Exposure, legitimacy, and social disclosure. Journal of Accounting Public Policy, 10(4). 297-308. Suchman, M. (1995). Managing Legitimacy: Strategic and Institutional Approaches, Academy of Management Review, 20(3), 57l-610. Toukabri, M., Ben Jema, O., and Jilani, F. (2014). Corporate social disclosure: Explanatory theories and conceptual framework. International Journal of Academic Research in Management, 3(2), 208-225. Thompson,S. (2016). Social Contract Theories in Business. Retrieved from https://yourbusiness.azcentral.com/social-contract-theories-business-17357.html Tilling,M.V. (2004). Refinements to Legitimacy Theory in Social and Environmental Accounting. Retrieved from https://www.flinders.edu.au/sabs/business-files/research/papers/2004/04-6.pdf Wambi,I. (2015). The relevance of Thomas Hobbes Theory of Social contract to the modern world. Retrieved from file:///C:/Users/E-ZONE/Downloads/Relevance_of_the_Social_Contract_Theory.pdf Wilmshurst, T. D. and Frost, G. R. (2000), Corporate environmental reporting: a test of legitimacy theory. Accounting, Auditing Accountability Journal. 13(1). 10-26. Williams,S., Adams, C.A. (2014). Moral Accounting? Employee disclosures from a stakeholder accountability perspective. Retrieved from https://drcaroladams.net/moral-accounting-employee-disclosures-from-a-stakeholder-accountability-perspective/

Innovation of Diffusion on Eco

Introduction The success of an innovation is largely dependant on vital intelligence which when incorporated into the open innovation process, may produce what the innovators call technical thrust1. Reflectively, when properly planned and executed, intelligence is the main force behind successful and accelerated innovation2.Advertising We will write a custom essay sample on Innovation of Diffusion on ‘Eco-Friendly Bags specifically for you for only $16.05 $11/page Learn More On the boundary spanners, innovations should be fairly fast and inclusive of all the stake holders. Innovation decision process is inclusive of knowledge, persuasion, implementation, and confirmation among the innovators, early majority, and late adopters3. Thus, this reflective essay explores on the innovation decision process for the innovator, early majority, and laggards in reference to introduction of eco friendly bags. In the reflection, I have employed scenario as story, history, and recollection. Scenario – Innovator As the need for greener lifestyle emerges following the much hyped need for sustainability and environmental friendliness, using the readily available biodegradable raw materials might be the awaited solution to save planet Earth from the devastating effects of green house and pollution4. To capitalize on the immediate needs of the mass, GreenTech Company releases a biodegradable, affordable, light, and formal bag which can be used in the formal and in informal settings5. As part of their green products, this bag is 98% biodegradable. As the product hits the market, GreenTech offers the most competitive price available, in the market. The management has factored in the need for safety in use and reusability. In the final meeting of the top management, Plum, the marketing manager, decides to approach the local green campaign group for a partnership aiming to capitalize on their influence. The product seem admirable, the market e xtensive, and if it become successful, the demand could be heavy. In the opinion of Erick, the general manager, safety standard has been met following the approval by the local standards department. Graig, the production manager has presented the right formula backed by what he termed as polyetherine component which has never been introduced into the market.Advertising Looking for essay on ecology? Let's see if we can help you! Get your first paper with 15% OFF Learn More Despite the fact that the creation of this product was as a result of thorough research, every member of this team is anxious on the expected response once the product hits the market. As an introductory approach, the marketing manager approached Mr. Ali, a local grocery owner to stock a quantity for trial of which he immediately agrees. Scenario – Early Majority Ericka, a local ice cream vendor has just gone into the local grocery to purchase extra polythene bags for his business. Often, he wo uld purchase 250 pieces for an entire week. While almost done with the shopping, Ericka notices the unique nicely packed bags with green symbol on their side. He moves closer and consults Mr. Ali, the store keeper. Mr. Ali offers no explanation but hand him a brochure with explanation. Despite the risks involved in trying a new thing, Ericka decides to have the bags. The following day, Ericka show up and purchase even more bags from Mr. Ali who surprisingly enough has not even attempted to use any. Being a lover of new products in the market, Ericka seem convinced that this new model of bags are lighter, more descent, and larger than the usual ones. While at the Ice cream company, he reveals the new finding to the ice scream steward, Mrs. Hannah. Despite getting a sample from Ericka, she would rather give out the sample to a fellow worker first before even trying anything out. Unfortunately, the friend also turns down the gift claiming that a friend had issues with the product. Scen ario – Laggard Back at the store, Mr. Ali, despite selling the new product, has not tried any out and is still waiting for a response from some of his clients. Mr. Ali thinks of the new product as a mere test and experimentation. He is unable to neither decide nor accept the message from his best customer, Mr. Ericka. He is ready to find out more information on this product before event attempting to use one for personal activities. Regardless of the good intention of the innovation, he is unable to recognize any positive benefits but would rather prefer the usual polythene bag. Ericka cannot tell whether Mr. Ali likes the new product or he is just being difficult. The following day, at the Ice factory, Mr. Ericka is surprised at Mrs. Hannah’s positive response even though she rejected the product the previous day. She is too willing to try the new product out after having seen a picture advertisement in the local television station. However, her friend is still uncomf ortable with the new product and would rather wait until it hits the market.Advertising We will write a custom essay sample on Innovation of Diffusion on ‘Eco-Friendly Bags specifically for you for only $16.05 $11/page Learn More In the above scenarios, the company is the innovators faced with the anxiety on the forecasted response on their product. Despite proper management, thorough research, pre-contemplation, contemplation, and action, none is sure6. Rather, they are risk takers. Mr. Ericka and Mrs. Hannah present themselves as early adopters. They are willing to take the risk of trying out a new product; they are on the look out for new information, and positive on innovations. However, Mr. Ali and Mrs. Hannah’s friend fall in the bracket of laggards. They would rather stay in the comfort zone and awaits the outcome of a new invention before attempting to adopt the same. Bibliography Cascio, Jamais. â€Å"Futures Thinking: Writing Sce narios† Fast Compan. 2010. Web. Dismukes, J., Miller, L. K, and Bers, J. A. â€Å"Technologies of Thinking Seen Key to Accelerating Radical Innovation†, Research Technology Management, Vol. 48, 23-32, New York: Cangage, 2005. Etzkowitz, H. and Leydesdorff, L. The dynamics of innovation: from National Systems and â€Å"Mode 2† to a Triple Helix of university-industry-government relations. Research Policy, 45-47, Alabama: Cangage, 2000. Porter, Alan. â€Å"Tech Mining† to Drive Open Innovation (Georgia Tech: Technology Policy Assessment Center, 2006). Web. Robinson, D. K. R., and Propp, T. â€Å"Multi-path mapping for alignment strategies in emerging science and technologies,† Second International Seville Seminar on  Future-Oriented Technology Analysis .Web.Advertising Looking for essay on ecology? Let's see if we can help you! Get your first paper with 15% OFF Learn More Footnotes 1 Dismukes, J., Miller, L. K., and Bers, J. A. Technologies of Thinking Seen Key to Accelerating Radical Innovation, Research Technology Management, Vol. 48   (July-August), 2-4. 2005. 2 Porter, Alan, â€Å"Tech Mining† to Drive Open Innovation (Georgia Tech: Technology Policy Assessment Center,2006) 3 Porter 4 Etzkowitz, H. and Leydesdorff, L., The dynamics of innovation: from National Systems and â€Å"Mode 2† to a Triple Helix of university-industry-government, 2000. 5 Cascio, Jamais. â€Å"Futures Thinking: Writing Scenarios,† Fast Compan.  2010. 6 Robinson, D. K. R., and Propp, T. â€Å"Multi-path mapping for alignment strategies in   emerging science and technologies,† Second International Seville Seminar on  Future-Oriented Technology Analysis. This essay on Innovation of Diffusion on ‘Eco-Friendly Bags was written and submitted by user Hailee Livingston 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.

Third Stream Movement essays

Third Stream Movement essays While jazz has sometimes been seen in a negative light, it has recently experienced a more positive appreciation. In addition, the different aspects of jazz have gained a greater appreciation. According to Gunther Schuller, jazz is worth much more. He says jazz has evolved from: humble beginnings that were hardly more than sociological manifestations of a particular American melee, has developed as an art form that not only possesses a unique capacity for individual and collective expression, but in the process of maturing, has gradually acquired certain intellectual properties . . . Its strength has been such that it has attracted interests in all strata of intellectual and creative activity. (Gunther qtd. in Gennari). From this perspective, we can begin to appreciate the Third Stream movement. This movement finds its roots in the 1950s and it came about as the result of a conflict of desires and ambitions. According to Gennari, the 1950s were a critical time for jazz because the "music itself was in the process of assimilating and transforming the momentous aesthetic advancements of bebop; not only because the cool, Third Stream, and free experiments were taking jazz to places it had never been before" (Gennari 478). Understanding how this movement came to be lies in America's changing cultural landscape. During this time, jazz was beginning to earn fame not only nationally but abroad as well. Jazz was also being perceived as an art form to be studied. As a result, many sub genres of jazz emerged and although they may have been reflected as art forms in and of themselves, all of jazz has Gennari explains the divide that existed between swing and bebop as a "a dispute between groups that were simply looking for different things from the music. The established audience was looking for familiar rhythms and melodies ...

Political Economy and Economics Research Proposal

Political Economy and Economics - Research Proposal Example The term political economy is used in yet a third sense. â€Å"It is the name of the science, which treats of this nation-wide complexus of economic activities.† (Knight, 2005) The subject matter of political economy: Political economy studies the laws, which cover the functions of production and exchange of material means. Both important functions constitute. Production is an independent function but the exchange is dependent on production since exchange can only be done of products. Although the external influences affect both of the two functions but in order to put up with these external influences both the functions have their own laws. Production and exchange are the major activities, which constitutes the economics curve. The circumstances affecting these two functions can be different in different countries. The difference in time span in which both of these functions are practiced can also change the notion of political economy. â€Å"Political Economy belongs to no nation; it is of no country: it is the science of the rules for the production, the accumulation, the distribution, and the consumption of wealth. It will assert itself whether you wish it or not. It is founded on the attributes of the human mind, and no power can change it.† (Speech on the Irish bill, 1870)

Referring to at least two of Ted Hughes' poems, discuss how the poet Essay

Referring to at least two of Ted Hughes' poems, discuss how the poet makes use of the natural landscape - Essay Example Ted Hughes nature poems include Wind, Rain, October Dawn and November. Wind is a wholly descriptive poem. It describes a storm .The description and the fierce mood nature is beautifully recorded in it. The portrayal of a tremendous dramatic picture of a landscape severely affected by weather is fully packed with imagery. The poem begins with a kind of metaphor It Seems to the poet that The house in which he is sitting at this time had been out at sea all night. He has this feeling because all night a storm had been raging. It seemed to the inmates that the house was being buffeted on the sea by the raging wind and waves. According to Alan Bold this poem takes as its physical starting point the house of Hughes parent’s. Hughes descries that house as some fine green goblet† The poem is full of magnificently arranged physical images which transform the so-called ordinary objects into objects of wonder. The comparison of te house to a ship is beautiful. â€Å"The house has been far out at sea all night. ... The difficulty in moving against the wind is also created by saying â€Å" I scaled along the house –side†¦..The landscape containing hills suddenly changing to a tend during the dreadful storm ,the magpie which was flung away etc gives the moving landscape instead of the stillness in some other poems. Wind is a not a tough poem to a reader who had some personal experience with of a furious storm Hughes was writing what he experienced during his stay there. On the subject of the poem Hughes himself said† On and off I live in the house on top of a hill in the penniness where the wind blows without obstruction across the top of the moors . I have experienced some gale in that house and wind is a poem I once wrote about them. In writing that poem I was mainly concerned with the strength of the blast, the way it seems to shake the world up like a box of toys†. ‘The rain’ is another notable poem of Ted Hughes in which we get a powerful display of a la ndscape affected by rain. This poem beautifully sketches the graphic visionary images of the rain. It has been raining. The rain brought floods and then came frost. After the frost there was more rain. Thus we get different pictures in quick succession. The opening line contains picture if rain floods frost, roof drumming, the purple bare woods heaved water and sleet. Then follow pictures of the fields, the hedge, the hill a, farm toads cows, a pheasant soaked thickets and so on. Through this long series of pictures the landscape affected by the rain closely viewed by the readers. The keen observer or perceiver in the poet Ted Hughes is most active in this poem Crab Robinson says that Hughes takes microscopic visual close

Negotiation and Conflict Resolution in Labor Essay

Negotiation and Conflict Resolution in Labor - Essay Example In the case Davenport who is the human resource manager questions Slover about union activities in the hospital, Slover answers no and at this point he uses the avoiding style because he knew his chances of wining in this situation were limited, the other negotiation style evident is the case where the hospital decides to remind its employees about the rules, in this case the hospital was using the competing negotiation style where it was a win lose situation and the company had to make a quickly decision to stop the employees from joining the union and to discourage those who were introducing others to the union. Finally the accommodation negotiation style is evident where after the court case the hospital management accepts responsibility whereby Ostrowski is compensated, workers union rights are redefined and therefore this is an accommodative negotiation style where the hospital accepts the demands of the employees. There are a number of negotiation principles that were violated in the hospital case, it is evident that emotions take over when Ostrowksi decides to become apart time worker, emotions make Maher not to accept Ostrowksi working as a Diem nurse who are paid a higher wage, he is replaced by a new employee named Elaine Troyer.

Nigeria And The Achievements Of Ecowas Politics Essay

Nigeria And The Achievements Of Ecowas Politics Essay The ECOWAS treaty of 1975 provides for the freedom of movement and residency. This means the abolition of visas and the right to reside anywhere in West Africa. The phase one of the protocol guaranteeing free entry of community citizens without visa for ninety days was ratified by member states in 1980 and became effective to usher in an era of free movement of ECOWAS citizens within member states. The right of entry, residence and establishment were to be progressively established within 15 years from the definitive date of entry into force of the protocol.  [2]   The Nigerian investment in the ECOWAS as an organisation has been considerable. At the same time, it has been an investment from which Nigeria has gained much in return. The vast sums of money and resources given by Nigeria to ECOWAS and its member states has been based on what might be called a general policy of enlightened self interest. For example, Nigeria has realized that the promotion of regional free trade, which is one of the objectives of ECOWAS, is crucial if she is to enjoy the benefits of balanced future economic development.  [3]  However, in spite of the big brother role Nigeria plays in ECOWAS, the Buhari regime was unable to observe the protocol on free movement of individuals which is required by the article 3 of the ECOWAS treaty. The administration closed the Nigerian borders and expelled illegal aliens. The closure of the Nigerian borders affected Nigerias neighbours to the extent that many West African leaders pleaded publicly that the borders be re-opened. The closure of the borders resulted in ECOWAS chairmanship being offered to Buhari at the ECOWAS summit of 1984. But he turned down the offer giving the excuse that the regime needed total commitment to the domestic issues in Nigeria.  [4]   However, in August 1986, the Babangida regime came to power. This new regime having realized the dangers inherent in the continuous closure of the countrys borders with her neighbours decided to re-open them to give a boost to their economies which had been strangulated by Buharis policy.  [5]  This new position however, was not without conditions. In that same year, Nigeria adopted a new immigration policy. According to Mr Dahiru Mohammed, Permanent Secretary of the Ministry of Internal Affairs, who was representing Colonel John Shagaya, Minister of Foreign Affairs, Nigeria had ratified the protocol, and would allow citizens of ECOWAS member states live and work in Nigeria without visas and work permits.  [6]  However, only immigrants in six professional categories would be allowed. These include engineers, doctors and health personnels, teachers, architects, surveyors and bilingual secretaries. Other professionals such as journalists, lawyers, and accountants, as well as un skilled workers will be excluded  [7]  . According to him, the certificates of professionals in the approved six categories would be verified by government agencies, and such immigrants would be required to find employment within six months of arrival, failing which they would be expelled. It was this principle of admissible categories of expatriate professionals that Nigeria put forward to ECOWAS as a basis for the conferment of resident status on a community citizen. This was accepted at the Abuja summit in 1986.  [8]   ECOWAS remains the only region in Africa where the citizens do not need a visa to visit one another. 3.2TRANSPORT AND COMMUNICATION DEVELOPMENT As part of efforts towards the physical integration of the sub-region, ECOWAS has embarked on programmes to interconnect existing networks in areas of transport and communications. These are projects capable of promoting integration and constitute the major links in the development of the community. Transport, communications and energy services are a crucial element in improving economic competitiveness and strengthening regional integration. In particular, for export promotion and intra-regional trade, the improvement of road and telecommunications networks, and provision of energy at affordable cost should be treated as key priority areas as we strive to carve a place for ECOWAS countries within the world economy.  [9]   According to analysts, the economic wealth and military power of a people or a nation have been closely tied to efficient methods of transportation. This provides access to natural resources and promotes trade, allowing a nation to accumulate wealth and power. Transportation also allows the movement of soldiers, equipment and supplies.  [10]   Nigeria, on her part has realized that her national intereststhe development and expansion of its economy, the raising of the standard of living of its population, and the future physical security of its territorycan only be effectively secured through joint programmes of balanced production, distribution and consumption of goods and services on a regional basis. In the long term, an industrialized Nigeria hopes to be able to export manufactured products freely to other West African states as well as to invest directly in the production of raw materials in ECOWAS nations, which would then be used to supplement local needs.  [11]   To this end, Nigeria in the 1970s, undertook the construction of roads to link up two member states in order to facilitate trade and boost contact among states. For example, the Lagos-Cotonou highway was constructed at a highly subsidized rate by the Nigerian government.  [12]  On March 6, 2006, the Nigeria-Niger joint commission met in Abuja. At the meeting, the ministers of transport for Nigeria and Niger discussed the building of a rail link from Kaura Namoda through Sokoto to Birnin-nKonni in Niger Republic.  [13]   Over the years, Nigeria has emphasized and assisted in the creation of the communitys structures. She believes in the building of strong regional institution as a pre requisite for the establishment of a meaningful regional integration.  [14]  For example, Nigeria has made substantial contributions to the generation of hydro-electric power to Niger and also supplied gas to Benin, Togo, Ghana under a 5 million Naira inter ECOWAS pipeline gas project.  [15]  The Authority of Heads of State and Government, on the recommendation of the Council of Ministers, approved the Community telecommunications programme known as INTELCOM I at its May 1979 session held in Dakar. The objective of the programme was to improve and expand the sub-regional telecommunications network. The principal objectives of the INTELCOM I programme were as follows: to open-up the Member States which did not have reliable links with the outside world; to complete the missing links in the PANAFTEL network in West Africa; to establish direct micro wave links between the capital cities of Member States; to increase telecommunications traffic within ECOWAS. From 1983 to 1992, the Community, through the ECOWAS Fund, made significant efforts to finance the first programme which attained 95% of its initial objectives as confirmed by the evaluation undertaken by the International Telecommunications Union (ITU). The Authority directed the Executive Secretariat to elaborate and implement a second telecommunications programme to be known as INTELCOM II. The main objective of the INTELCOM II programme is to provide the Community with a regional telecommunications network that is modern, reliable, and capable of offering a wider variety of services, including multimedia and wide band services. This will reduce transits through countries outside Africa and improve direct links between Member States.  [16]   3.3 PEACE WITHIN WEST AFRICA NIGERIA AND ECOMOG The years 1972-1975 have been said to be the most peaceful period in the history of the sub region. As from 1980, West Africa became a jungle of wars. Thus, ECOWAS deviated from its original vision of economic integration to a peace keeping organization.  [17]  Various Nigerian governments, military and civilian, have tried to maintain the big brother role played by Nigeria in the sub region. The economic focus of the Ibrahim Babangida regime led to the greater interest in ECOWAS as well as trade and security. Links with Nigerias neighbours resulted in the regimes restoration of good neighbourliness in West Africa.  [18]  Unlike any other period in West Africa, the Babangida regime witnessed quite a number of conflicts. One of these was the border division of the Ewes between Ghana and Togo which has often been criticized by the Ewes who have for long expressed desire to live in one country. Unfortunately, the Ewe irredentism had become a ready tool in the hands of the Eyadem a administration. Accusing fingers were often pointed in the direction of Ghana. This was demonstrated in 1989 when the call for multi-partism to replace the one party system was made. The Eyadema administration played up the Ewe irredentism to implicate Ghana, a country with a large concentration of Ewes. To allow the Ghana-Togo crisis go unchecked would have carried with it a high security risk for the sub region. The Babangida regime offered itself as an impartial arbiter on the issue.  [19]  Article 52(1) and (2) of the revised ECOWAS Treaty (1993) provides not only for the prevention and resolution of conflicts, but also contains a clause on the establishment of a regional peacekeeping force for the prevention, containment, moderation and termination of hostilities between or within member states through the medium of a third party intervention and directed intentionally, using multi-national forces of soldiers and civilian personnel to maintain peace.  [20]  The idea o f a peace keeping force hinged on the idea that development cannot be achieved without security and peace. The Executive Secretary of ECOWAS, Dr. Mohammed Ibn Chambas, once said this about insecurity in the sub region, it takes us away from our original mandate: economic cooperation, economic development and fighting poverty, stepping up trade, etc. political instability in any member state diverts our attention.  [21]  In 1990, due to the Liberian crisis, there was a revision of ECOWAS goals. Events in Liberia, being a member of ECOWAS impacted directly on the fortunes of both the organization and all its constituent member states. Thousands of people died in conflict related situations, most of them civilians, and hundred thousands of others were turned into refugees as a result of the war. In addition, Liberian nationals, citizens of other ECOWAS states, diplomats and foreign citizens were increasingly exposed to the triple hazard of war, starvation and disease.  [22]  Th e stage for Nigerias involvement in the Liberian crisis was decided at the 13th session of the Authority of Heads of States and Government in Banjul, Gambia from May 28-30, 1990 under the chairmanship of Blaise Campraore of Burkina Faso. A committee was set up for the formation of ECOWAS Cease Fire Monitoring Group (ECOMOG).  [23]  Despite the genuine fears of informed Nigerians about the capacity of the economy to accommodate the Liberian crisis, the Babangida regime saw the issue in a different light. As far as the administration was concerned, the outbreak of hostilities in Liberia called for practical demonstration of the countrys age long good neighbourliness tradition. In addition to the security implications of the crisis, the regime foresaw the damage the carnage in Liberia would cause its leadership role in Africa.  [24]  Subsequently, ECOMOG was instituted for the Liberian crisis. Nigeria also led ECOMOG to dislodge the Johnny Koromah led military junta that ousted Teejan Kabbah in Sierra Leone in 1997 and restored peace in the country. Nigeria also closed down her embassy in Freetown with six other countries in compliance with the directives of the ECOWAS Council of Foreign Ministers.  [25]   Nigerias efforts at finding peaceful means to end the wars in the sub region could be seen in her contributions of man power, technical assistance and aid via ECOWAS. Nigeria alone has committed eight field commanders to ECOMOG and contributed about 70% of the troops in the peacekeeping operations in Liberia.  [26]  According to President Olusegun Obasanjo, Nigeria spent eight billion Dollars and lost about five hundred men in the Liberia and Sierra Leone crisis.  [27]  On the platform of ECOWAS vis-à  -vis the ECOMOG, Nigeria intervened in Liberia and Sierra Leone revolutionary conflict over the control of government structures, which were rooted in political and ideological differences lasting till the late 1990s. Not wanting a re-occurrence of the situation and aftermath of the Liberian and Sierra Leone civil war, ECOWAS working in collaboration with Nigeria, did not allow the Ivorian civil war linger for a long time before prompt intervention providing solutions to the c onflict. Thus, Nigeria in West Africa has successfully led the way in resolving the crisis situation in Liberia and Sierra Leone through the instrumentality of the sub regional peacekeeping mechanism, ECOMOG. The establishment of the ECOWAS Monitoring Group (ECOMOG) despite its handicaps, has proved to be one of the most durable and outstanding achievements of ECOWAS. It has not only provided a novel method for the maintenance of peace and security, which is now widely acknowledged, it has more importantly saved West African states and their nationals from mindless brutality, if not extinction.  [28]   ENDNOTES Dr S.K.B Asante ECOWAS and Freedom of Movement West Africa (London) 3 July 1978. p.1285 Richard Alkali, West Africa: ECOWAS-Its Formation and Achievements. http://allAfrica.com Anyanwu et al, History of Nigeria: Nigeria in the Twentieth Century. (Nigeria: Longman, 1991) p.213 Bunmi Odenubi, Nigerias Foreign Relations in the New Millennium Nigerian Forum. Vol 22, No 7-8. July-Aug 2001. p.157 Hassan A. Saliu, The Foreign Policy Legacies of Ibrahim Babangidas Regime in Nigeria. Nigerian Forum. Vol 22, No7-8, March-April 1995. p.50 Edem Kodjo, ECOWAS: Braving Troubled Waters West Africa (London) 30 June 1986. pp.1363-1364 Ibid R. Omotayo Laniyan, Nigeria and the ECOWAS: A Role and Problem Analysis, in G.O Olusanya and R.A Akindele (eds), Nigerias External Relations: The First Twenty Five Years. (Ibadan: University Press Ltd, 1986) p.127 Achievements of ECOWAS http://www.ECOWAS Official Site.org Microsoft Encarta Encyclopedia. Anyanwu et al, History of Nigeria,à ¢Ã¢â€š ¬Ã‚ ¦ p.214 Ibid. p.213 Bulletin on Foreign Affairs. Vol 21. March 2006. R.O Olaniyan, Nigeria and the ECOWASà ¢Ã¢â€š ¬Ã‚ ¦ p.132 Achievements of ECOWAS http://www.ECOWAS Official Site.org Ibid Information from Professor Adebayo Adedeji, aged about 80 years, ACDESS, Ijebu Ode, 11 Feb,2009 Nigerian Forum. Vol 22, No 5-6. May-June 2001.p.133 Hassan A. Saliu, The Foreign Policy Legacies of Ibrahim Babangidas Regime in Nigeria. Nigerian Forum, Vol 22, No 7-8, March-April 1995. p.51 Dele Ogunmola, ECOWAS and Conflict Management in Cote dIvoire: Appraisal and Prognosis Nigerian Forum. Vol 26. No 5-6. 2005. p.152 Daily Trust online editon, May 25, 2005 Odeyemi Oluwafunmilayo, Economic Cooperation in West Africa: A Look at the Achievements of ECOWAS 1991-2005. (A B.A Long Essay submitted to Babcock University Ogun State.)April 2007. p.45 Bunmi Odenubi, Nigerias Foreign Relations in the New Millenium. Nigerian Forum. Vol 22, No7-8. July-August 2001. pp. 158-159 Hassan A Saliu, The Foreign Policy Legacies of Ibrahim Babangidas Regime in Nigeria. Nigerian Forum.Vol 22, No7-8, March-April 1995. pp. 51-52. http://www.news.bbc.co.uk Ibid http://www.google.com http://www. Africa week magazine.com

Development of Tools Throughout Time Essay -- essays papers

Development of Tools Throughout Time Our world today has many different kinds of tools. I realized this when I was walking through The Home Depot a few weeks ago. On one isle are nails, and screws, the next isle there are power drills to go along with power saws and power sanders. Now imagine the world with no tools, no nails or screws. It would be pretty difficult to do most anything. We would have no houses to live in, no cars to travel to work in, and we would have no place of employment in which to work. Without tools our world would be nothing. This is the world our ancestors faced, and they had nothing but rocks and sticks. Homo Habilis had the challenge of being the first hominid with a larger brain, which allowed him to have the ability to do more things. With early hominids lacking size and strength to kill large animals they used certain objects to kill and devour these animals. This ultimately led to the development of tools. By 2.5 million years ago, a new human evolutionary trend had begun. The change to a upright bipedal posture, and existing flexibility at the shoulder, arms, and hands allowed hominids to carry and manipulate objects much more readily. Early hominids began to manipulate the physical world, inventing solutions to the problems of human existence. Instead of foraging, as do most primates, on a more or less individualistic basis for food sources, early hominids invented stone tools with which they could slay larger animals. This began a switch from scavenging to hunting as the main means by which meat was acquired. The earliest known tools yet discovered were found by Louis and Mary Leakey at Olduvai Gorge dating back to about two million years ago. They originally thought that these tools were made by the Australopithecus, but later determined that they were made by the Homo Habilis . The first tools found were classified as lower paleolithic tools. These tools belong to the Oldowan tool tradition. These tools which were opportunist in nature were characterized by an all-purpose generalized chopping tool. These were produced by removing a few flakes from a stone either by using another stone as a hammer or by striking a pebble against a large rock. Manufacturing tools this way is called the percussion method. Many of these tools were made out of quartz or lava; which were not the most common st... ...hominids we would have no understanding of any prehistoric life. Their technological advances helped us to create more efficient tools which allow us to research these ancient cultures. As one can see, we are presently expanding our modern tool kits every decade; so who is to say what technological advances will be made in the next several millennia's. Tools have evolved to influence, if not determine, human history. Bibliography Burenholt, Dr. Govan. The First Humans - Human Origins and History to 10,000 B.C. New York; Harper Collins Publishes. 1993 Haviland, William A. Anthropology - Ninth Edition Orlando ,Florida; Harcourt College Publishers. 2000 Johanson, Donald and Lenora. Ancestors New York; Villard Books. 1994 Leaky, Richard. Origin of Humankind New York; Harper Collins Publishers. 1994 Rowlett, Ralph M., Michael G. Davis, and Robert B. Grabe. Friendly Fire http://anthropology.about.com/gi/dynamic/offsite.htm?site=http%3A%2F%2Fwww.discoveringarchaeology.com%2F0599toc%2F5feature3-fire.shtml Time-Life Books. The Human Dawn New Jersey; Time-Life Books. 1990 Wallbank, T. Walter. Civilization Past and Present New York; Harper Collins Publishers. 1992

Tccc Business Strategy

This report is centered on research of The Coca Cola Company (Global) in the carbonated beverage market. Various methods and models of analysis were used in examining the company’s market position and determining its strategic competitive advantage. The Pestel model and Porter’s five forces model was used to identify the company’s opportunities and threats. The barriers to entry in the carbonated beverage market are really high which means that the threat of other companies successfully entering into the industry is low and this has been a big advantage for the company. Brand loyalty is another. People today in general are becoming increasingly aware of a healthier lifestyle in light of new information regarding nutrition and this has been a major threat to the company and the market in general. The Company’s strategic competitive advantage stems from its three main core competences. The manufacture and distribution system of its beverages (products), branding through marketing campaigns and the innovative nature of the company in its market are all major strengths. One thing special about the company is that it uses its resources in a way unique to its competitors and consumers see value in their product. The Coca Cola Company understands the clout of their stakeholders and they have set their strategic objectives to meet their individual demands. This message has been firmly implanted in the company’s mission statement. Coca cola competes on the basis of value added for customers. People will pay the premium over lesser brands for the coca cola product and this may be why they have chosen (from Porters model) a differentiation strategy. This has paid off for them. Their manufacturing and distribution system has been an effective business level strategy. The Coca Cola Company and its bottlers can work together to determine local responsiveness and produce products that best suit the local tastes in that particular geographical area. Amongst other business level strategies these two would have to be the most effective. The companies structure and systems lend there hands to the successful implementation of their planning. Without which it might not have its position within the carbonated beverage market today. Strategic Analysis External Analysis We looked at the external environment of the carbonated beverage industry using the pestel model and Porter’s five forces model to find the key trends or influences on the industry. People today in general are becoming increasingly aware of a healthier lifestyle in light of new information regarding nutrition. People are trying to eat and drink a lot healthier and as a result there has been an increase in market demand for drinks such as orange juice, water, and other healthier alternatives. This was once a threat to the business of The Coca – Cola Company. Instead they eliminated this threat through product diversification. As you may have seen The Coca – Cola Company has a product from most drink categories. The barriers to entry in the carbonated beverage market are really high which means that the threat of other companies successfully entering into the industry is low. Virgin once tried to enter into the industry with Virgin Cola and was unsuccessful because Coke and Pepsi were already too strong. The Coca Cola Company has already well established brand awareness and distribution channels and the production costs are also substantial in the industry. Creating brand awareness and achieving market acceptance is a very costly procedure, extensive market research needs to be undertaken to understand local tastes and preferences. The Coca Cola Company has arrangements with certain Fountain Outlets (MacDonald’s and Subway) who are contractually obliged to distribute only their drink product. There are many other fountain outlets that have existing contracts with one of the soft drink companies and this makes it harder for new entrants. The large quantity of marketing and propaganda has lead to increased brand loyalty and is a major strength for the Coca Cola Company. It has also lead to the brand Coca Cola being perceived as the premium Cola drink. The dominance of Coca Cola can be seen by the failure of the drink Virgin Cola. Because of the limited size of the market, the growth in market share of one brand will result in the decrease of another. The Coca – Cola Company has used the large amount of resources at their disposal to wage competitive war on PepsiCo and other brands and results have shown that they have come out on top. One of the major strengths of The Coca – Cola Company is its sheer size in the industry because of which it can effectively utilize economies of scale. TCCC concentration is on marketing the brand, new product development, researching future venture opportunities and warding off competition. Their operations take place in a very dynamic environment and therefore innovation is vital to their success. Internal Analysis The company as the leading brand of carbonated beverages has a number of core competencies which it utilizes to give it its strategic competitive advantage (SCA) in the market. The manufacture and distribution of non alcoholic beverages The process of manufacture and distribution of Coca Cola products is unique to the industry. The Coca Cola Company has different bottling partners throughout the globe which manufacture and bottle the final product which the end consumer ultimately receives. The Coca Cola Company produces the concentrates and syrups of the products itself and then sells the rights to manufacture the products to its bottling partners. They do not control the policies and programs of these bottling partners, but they do have mutual self-interests and therefore work together to find common ground and take common action in many areas. Through this system they can effectively devise the appropriate strategy for responding to the needs of the local environment. Branding through marketing campaigns The Coca Cola Company has put a lot of emphasis over the years on creating and maintaining its brand name through large scale marketing campaigns. They have effectively used their resources to build a brand that is unique and known on a large scale throughout the world for its quality. This has led to a brand loyalty factor. Innovation: Product, packaging, equipment and marketing Coca Cola is always bringing out new carbonated beverages. Through the use of its resources and technology, it has led the innovation of new, improved, and different soft drinks around the world. A recent example of this from Coca Cola is â€Å"Jianchi† meaning strong inner energy in Chinese, the drink, made with fruit juices and plant extracts and available in three flavors is inspired by ancient Chinese wisdom to enhance the inner balance. The Coca Cola Company has invented a bottle which is made from a blend of petroleum-based materials and up to 30 percent plant-based materials named the ‘plant bottle’. It is a significant development in sustainable packaging innovation. The new bottle reduces carbon emissions by up to 25 percent, compared with petroleum-based PET, and is 100% recyclable. â€Å"The Coca-Cola Company is the first company to introduce a beverage bottle made with recycled plastic has been focused on ensuring the sustainability of its packaging for decades. It has put resources behind creating packaging that is recyclable and investing in recycling infrastructure to ensure that its packages are collected, recycled and re-used†. The Company has built the world’s largest recycling plant with the ambition of reducing costs and the amount of materials in their packaging through recycling. The packaging being lighter will also reduce the cost of fuel on delivery etc. To increase the market for recycled materials, The Coca Cola Company has also released a line of merchandise which is made from 100% recycled material. Overall the innovation of recycled packaging will reduce costs, prevent waste and maximize value over the life of the product and inadvertently adding value to the Coca Cola brand. Coca Cola won the Gold lion in the point of sale category at the 2009 Cannes lion’s international advertising festival with the â€Å"video vendor† being the latest innovation in vending machines. It is believed to create a uniquely immersive experience for consumers. Strategic Directions; Strategic Objectives Vision The vision of Coca Cola â€Å"specifies what the organization could achieve if it performed perfectly† (Viljoen and Dann, 2003:97) â€Å"To refresh the world, to inspire moments of optimism and happiness and to create value and make a difference† Mission The mission statement of The Coca Cola Company has all the elements a good mission statement should have. It specifies the company’s commitment to their shareholders. Their mission is to: Achieve sustainable quality growth, be a great place to work where people are inspired to be the best they can be, bring the world a portfolio of quality beverage brands that anticipate and satisfy peoples desires and needs, nurture a winning network of customers and suppliers, be a responsible citizen that makes a difference be helping build and support sustainable communities, maximise long term return to s hareholders while being mindful of our overall responsibilities and be a highly effective, lean and fast moving organisation. |Stakeholder |Salience |Stakeholder demands / needs |strategic objective(s) to address | | | |that must be satisfied |stakeholder demands / needs | |   |   |   | | | | | | |Shareholders |Definitive |High dividends & growth in share |Growth in profitability | | | |price |Increase in revenue | | | | |Financial stability | | | | |Efficiency | | | | |Research and development | |   |   |   |   | | | | | | |Customers |Dominant |Quality products at lowest price |Social Responsibility | | | |socially and environmentally aware |Product quality and service | | | | |Higher level of customer satisfaction | | | | |than rivals | | | | |Research and development | | | | |Focus on the needs of consumers, | | | | |customers, and franchise partners | | | | |Listen, observe and learn in the market | |   |   |   |   | | | | | | |Employees |Domina nt |All employee benefits satisfied |Employee welfare | | | |Clean and safe working environment |Financial stability | | |Friendly working environment |Be a great place to work where | | | |Job security |people are inspired to be the best | | | | |they can be | |   |   | |   | | | | | | |Community |Dominant |Minimal environmental impact |Social responsibility | | | |Support the community |Be a responsible citizen that makes a | | | | |difference by helping build and support | | | | |sustainable communities | | | | |Support charities and community | | | | |organizations | | | | |Research and Development – | | | | |Environmentally friendly products | | | | |Possess a world view | |   |   |   |   | | | | | | |Suppliers / Bottlers |Dominant |Network and communication |Nurture a winning network of customers | | | |Reliability |and suppliers, to together create mutual | | | |Support |and endearing value | | | | |Research and evelopment | |   |   |   |   | | | | | | |Government |Dormant |Abide by the laws and legislation |Abide by the law | | | |governing each county TCCC has |Be mindful of overall responsibilities | | | |its products | | |   |   |   |   | The strategic objectives of The Coca Cola Company are in alignment with the demands of each of its stakeholders. Its strategic objectives are firmly bound within its mission statement showing their commitment to upholding their responsibilities to meeting the demands of all possible stakeholders. Key Strategies – Current Using Ansoff’s product / market strategies model it can be determined that The Coca Cola Company is pursuing a product development / diversification strategy. This means that their aim is to keep distributing new products into the same existing market as well as look for opportunities in new markets. An example is the release of Jianchi a new product made from fruit juices and plant extracts. Miles and Snow’s adaptive strategies model reveals that the company is in the prospector / defender position in the market. The company is a prospector leading change in the industry through creating new products and identifying new opportunities in the market place. High innovation is key in the prospector business strategy. However it could be said that it is a defender as well in terms of the original coca cola product and its position in the Cola market. They are defending vigorously focusing on high quality and creating barriers to entry. Their position on strategy is characterized by stable growth, profits, efficiency and flexibility in a dynamic environment. Their business structure is flat / loose and authority is decentralized within the organization. The high level of innovation can be seen through the company’s marketing at a functional level with the recent release of the new four and a half minute Music Video released by The Coca Cola Company titled – â€Å"open Happiness† which has taken marketing in the carbonated beverage industry to a new level. Coca cola competes on the basis of value added for customers. People will pay the premium over lesser brands for the coca cola product and this may be why they have chosen (from Porters model) a differentiation strategy. In the past the company has focused cost leadership however this sometimes leads to lowered market entry barriers this has led them to a differentiation strategy and a focus on pervasive penetration, preference and price related value. Due to economies of scale Coca Cola has the opportunity to be a low cost provider and undercut Pepsi's prices but from what we can see it chooses the differentiation strategy and distributes its products at a premium. A possible reason why they may not have chosen a cost leadership strategy is that it can generally be seen as a weak competitive advantage. Competitors may undercut you and it is easily emulated as well as difficult to sustain over time. In order to differentiate from the conventional Coke product, The Coca Cola Company has produced / innovated other such products as cherry coke, vanilla coke and diet coke and it has undertaken competitive marketing against such companies as PepsiCo and Cadbury / Schweppes to advertise how their products are so different and better in quality. The Coca Cola Company has employed a strategy which closely resembles a multidomestic strategy. A multidomestic strategy is characterized as being â€Å"orientated towards local responsiveness†, establishing â€Å"semiautonomous national units in each country in which it operates to produce and customize products to local markets†. It does this in a unique way in collaboration with its bottling. Together The Coca Cola Company and all its bottlers form one system called The Coca Cola System. The benefit of this strategy is that The Coca Cola Company and its bottlers can work together to determine local responsiveness and produce products that best suit the local tastes in that particular geographical area. We have seen this strategy in action with the introduction of the Coca Cola equivalent of red bull being â€Å"Mother† the energy drink being release certain regions but not others. Strategic Implementation; General Perspective Evidence of unrealized strategy The Coca Cola Company was set for the acquisition of the Huiyuan Juice business in China around March earlier this year, which looked to agree with their product development / diversification and differentiation strategy. Unfortunately the Chinese Ministry of Commerce (MOC) decided to decline approval for the proposed purchase. Coke released a statement saying: â€Å"We will now focus all of our energies and expertise on growing our existing brands and continuing to innovate with new brands, including in the juice segment. † The innovation of one of their newest products – â€Å"Jianchi† came approximately around this time. Apart from minor setbacks such as the failure of the Chinese juice company merger and acquisition, the coca cola company has implemented its strategies of diversification and differentiation well and this can be seen in the popularity of their products and their prosperous position in the carbonated beverage market. Key Strategic Implementation Issues Using the Mckinsey 7’s’ model we found that the three major strategic implementation issues that confront The Coca Cola Company is structure, style and systems. Structure The Coca Cola Company has in the past gone through major restructuring of its organization. It has cut out various levels and moved to a more multi-domestic structure. A couple of years ago they restructured their operations in both North America and internationally. â€Å"Not to save pennies but to simplify decision making and expedite the speed in which we can execute†. To this day they continue to refine their business structure. In June 2009 they integrated three core functions for a new business structure: Global Business Services, Global Information Technology and Transformational productivity. This will allow the company to deliver services that are highly dependent on technology and standardized processes to its business units in a more effective and efficient way. Style Amongst the list of The Coca Cola Company’s seven â€Å"values† includes integrity and accountability. Muhtar Kent the current CEO of the company was caught betting against the company’s stock allegedly based on insider information then claimed not to know that his actions were illegal. This does not constitute good leadership and could however be classified as an implementation issue for the company. The style of leadership a CEO shows can have a massive effect on the shared values or culture of an organization. So far there are no further signs of further situations like the one described above by the CEO and the company is continuing to improve. The signs point towards Muhtar Kent redeeming his reputation in the company. Systems The Coca Cola Company has the largest beverage distribution service in the world. With close to 1. 6 billion servings a day consumed in over 200 countries, The Coca Cola Company has had to develop effective and efficient system to cope with the magnitude of the business. Systems are as important to The Coca Cola Company as they are to any business. The distribution system of their products is unlike any other in the industry. It ties in with their business structure closely resembling a multi-domestic organizational structure. The Coca-Cola Company frequently utilizes promotional merchandise to connect consumers with its brands. It is critical that all such merchandise make a positive impression upon consumers. It is important that they monitor quality control not just for their concentrates and syrups but also on their promotional merchandise. The organization of The Coca Cola Company comprises many systems which enable the company to run smoothly. It takes strong successful systems for a company to survive and they can also give a company its strategic competitive advantage. However they must also be monitored and evaluated. TCCC has a triple bottom line approach to reporting and they utilize the balanced scorecard to achieve this. Evaluation of Strategy – Current / Future Efficient evaluation has been implemented through a triple bottom line reporting approach. They understand due to their large public profile they have to maintain a focus not just on financial reporting but also on their social responsibilities and the environment. The balanced scorecard is used in their financial reports based on key performance indicators to measure their performance in implementing their strategic objectives. The message is therefore communicate to their stakeholders through their general purpose financial reports (GPFR). References Textbooks Hill et al. 2007, Strategic Management: An integrated approach 2ed, Wiley and Sons. Page: 4 – 19, 64 – 72 Internet News Article I’d like to sell the world a Coke http://www. nytimes. com/ref/business/20070527_COKE_GRAPHIC. tml Viewed: 10:52 Monday 31st August The Coca Cola Company Website: Innovation http://www. thecoca-colacompany. com/ourcompany/innovation. html Viewed: 4:59 Monday 31st August The Coca Cola Company Website: The System The Coca Cola logo (used above) is a registered trademark of The Coca Cola Company http://www. thecoca-colacompany. com/ourcompany/the_cocacola_system. html Viewed: 4:59 Monday 31st August Strategic management http://www. docstoc. com/docs/10713752/Strategic-Management Viewed: 4:00 Saturday 10 October 2009 Brand Spotlight: Coca-Cola http://www. brandingstrategyinsider. com/2007/04/brand_spotlight. html Viewed: 6:31 Sunday 11 October 2009 Organization Strategies: Strategies used in Coca Cola http://www. findfreecollegeessays. com/show_essay/47865. html Viewed: 6:40 Sunday 11 October 2009 Open Happiness: Music Video http://www. youtube. com/watch? v=Cxfkg3RaRjs&feature=related Viewed: 4:53 Saturday 10 October 2009 THE COCA-COLA COMPANY INTRODUCES INNOVATIVE BOTTLE MADE FROM RENEWABLE, RECYCLABLE, PLANT-BASED PLASTIC http://www. thecoca-colacompany. com/presscenter/nr_20090514_plantbottle. html Viewed: 10:16 Sunday 11 October 2009 ACQUISITION OF HUIYUAN JUICE GROUP IN CHINA NOT TO PROCEED http://www. thecoca-colacompany. com/presscenter/nr_20090318_huiyan_juice. html Viewed: 11:37 Sunday 11 October 2009