Summary. In This Article, The Most Crucial Part Is Investing

Summary In this article, the most crucial part is investing in reskilling current employees. 65% of the respondents will take on this approach with future workforce strategies. Ryan Frishmann, the author of this article, says that he does somewhat agrees with the statement â€Å"Hire for character, train for skill.† He believes that if you invest in skill and training that character will come out of it because diligence is required when applying these skills. The article mentions two skills that are very important. These are analytical skills and social skills. Analytical skill is the ability to visualize or solve both complex and uncomplicated problems by making decisions that are sensible given the information. Social skill is any skill†¦show more content†¦According to a survey called â€Å"The State of American Jobs†, 54% of workers believe that training/skills development throughout their work will be essential, while 33% says that it is important but not essential. In identifying future candidates, skills should be the focal part of this. The demand for particular occupations or specialties are changing every 5 or 10 years, and this is set to accelerate. Most transferable skills remain constant and are tangible. Skills is the foundation of learning. Many tests have come out in order to test skill competencies. This will help employees identify the best employees for the job. In Bill Taylor’s article Hire for Attitude, Train for Skill, he takes a completely different approach. His approach is that you hire employees with the same personal values as the organization. This what helps to make the organization in sync. They believe that character counts more than credentials. According to the article Should you Hire for Personality or Skill, they believe that you should go through a series of tests to see how well you will fit with the organization. Some of these tests include personality tests, cognitive tests, and skills based tests. They all believed it is based on what type of company you have and the nature of the job. Relevance to the different Industries Different skills are relevant to the different industries because most of them are transferrable. If you lack the direct experience you need, you can still get the jobShow MoreRelatedSuccessful Businesses Derive Their Strength From Skillful Management Strategies And A Positive Financial Position895 Words   |  4 Pagesas a function of how it performs against its own track record over time and within the market in which it operates. Profitable businesses utilize the income statement, balance sheet, owners’ equity calculations, and the statement of cash flows for this purpose. Income Statement The income statement reflects business operations over time. It reports the revenues generated and expenses incurred by a firm over an accounting period (Melicher Norton, 2014). 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Corporate Social Responsibility Of The Banana Industry

Chiquita Brands International is a multinational corporation that focuses on the distribution of bananas that are produced in several developing Latin American countries. There is a reoccurring theme of unethical behaviors in the banana industry which in return has made companies such as Chiquita to take on Corporate Social Responsibility (CSR). CSR has been a crucial factor for Chiquita to take attention to for a global turnaround. Important features Chiquita had to consider were obligations to ethical, social standards, legal, and environmental standards. These factors lay a major role in resolving CSR issues. Chiquita faced other problems besides CSR, for example they faced difficulties accessing trade markets in the EU. Several trade†¦show more content†¦Doh, 2012). These human rights groups expect them to behave ethically while contributing to the economic development and quality of life in the workforce. In the 1990’s Chiquita was viewed as a company that was un caring and indifferent. Chiquita suffered with lack of innovation, small profits, and low morale with its employees which lead for the company to be extremely infamous. For instance, in 1998 Chiquita was charged with illegal business practices exposed from an undercover operations (Luthans, P. Doh, 2012). Chiquita was guilty for violations in environmental, human, and political rights. This left an â€Å"unsavory impression of our company† stated by Jeff Zella a corporate responsibility officer at Chiquita (Luthans, P. Doh, 2012). After this it was clear to Chiquita that being socially responsible needed to be an interest for long-term success. Chiquita needed to act immediately if it had any hopes of winning over the community. Chiquita also faced problems with the European Unions decision to impose much larger tariffs and quotas on Chiquita’s imports From Latin American countries. 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Black Out Periods And The Sarbanes Oxley Act Accounting Essay Example For Students

Black Out Periods And The Sarbanes Oxley Act Accounting Essay Who Suckered Who ( Executive Summary ) . The subsequent paper will discourse the Sarbanes-Oxley Act and how it specifically pertains to the Enron instance and their organisation. The former populace traded company that was one time valued at over 60 billion dollars and became one of the quickest and largest houses on Wall Street suffered an even quicker ruin by monopolising the system and interrupting Torahs. This paper will analyze an act that was passed based about entirely on the illegal minutess that transpired during the Enron epoch. It highlights the importance of the Sarbanes Oxley Act, its importance in this instance and specify what this act means for present and future companies. While Enron was surely non the first company to pull strings financess or deficiency concern moralss, their alone state of affairs gave Congress the necessary fuel to ordain this new jurisprudence. This act, every bit good as the Enron instance set new case in points lawfully and ethically and has changed the range of Wall Street. This essay besides emphasizes black out yearss, an of import facet of the Enron instance that provided grounds to their immoral concern behaviour in add-on to more support of implementing the Sarbanes Oxley Act. Blackout yearss involve a period of clip where an employee or stakeholder can non obtain loans, distribute financess or reassign and/or diversify assets for more than three back-to-back concern yearss. During this period, these options are suspended, limited or restricted. If a company needs to entree these options during this period, they must give notice written in apparent English in a timely mode to the issuer of any employer securities. Even though blackout day of the months existed prior to Enron, the Sarbanes Oxley Act of 2002 revised the regulations and new limitations were Enron-Driven. The paper below will besides discourse Enron s disgraceful behaviour and several of the many Torahs that were broken that created the Sarbanes Oxley Act every bit good as how other companies and stakeholders will profit from the act. It will besides explicate that although many will state deficiency of moralss do non needfully intend interrupting Torahs, the alterations in the Sarbanes Oxley Act were set in topographic point due to the immoral actions of Enron executives and their stakeholders. In fact, the Act suggests that its executing was due in portion to contending legal but immoral actions. Finally, the paper will reason with the punishments that a one would confront should they go against any of the regulations in the Sarbanes Oxley Act. It besides draws attending to ways to protect oneself should they go cognizant of a individual or company go againsting the Act. It stresses how Enron s ruin set new legal case in points and sets an illustration of what non make both lawfully and professionally. Outline1 Meet the Crooks ( Situational Analysis )2 What Went Wrong ( Analysis of relevant legal and ethical issues )3 A4 A5 A6 Retribution ( Recommendations A ; Conclusions )7 Beginnings: A8 A9 A Meet the Crooks ( Situational Analysis ) At the clip of its prostration, Enron made history as the largest and most ill-famed bankruptcy in American history. This was of class before the prostration of WorldCom and Leman Brothers, and its failure was straight responsible for the creative activity of the Sarbanes Oxley Act, GAAP ( Generally Accepted Accounting Principles ) and the constitution of the PCAOB ( Public Corporation Accounting Oversight Board ) . Enron was so much at mistake for the constitution of these ordinances that the Sarbanes Oxley Act reads about identically as a prohibition to each now improper action taken by Enron s executives. Overnight, the prostration of Enron destroyed 1000s of pensions, investings and retirement financess. The impact was so terrible that stakeholders were still being compensated every bit tardily as December 2009. In 2001, cardinal Executives of Enron, an highly powerful and influential energy corporation and attached accounting and fiscal houses were found guilty of corporate frau d, obstructor of justness, disproof of paperss, peculation and insider trading. The building of Enron s death began in 1992 when Jeff Skilling the President and COO of Enron convinced Federal regulators to allow Enron utilize an accounting method called grade to market which allowed them to grossly blow up their accounting figures. With the aid of accounting house Arthur Anderson which now Accenture, Enron was able to tacitly hide their losingss by implementing a assortment of unscrupulous accounting patterns. Andy Fastow created 3000 particular involvement keeping corporations, which he used to hide Enron s losingss, implemented distribution of corporate equity disguised as loans and employed complex namelessness patterns which included neglecting to bring forth balance sheets with gaining statements. An illustration includes the materializing of the California energy crisis, where Enron deliberately created the semblance of an energy deficit which they used to drive monetary values upward. Another illustration is when in 1999, Enron sold Merrill Lynch a $ 7 million interest in three energy-generating flatboats in Nigeria. Enron disguised the sale as a loan, yet reported it as a $ 12 million net income. As a consequence of such patterns Enron s stock monetary value grew steadily and by early August 2001 the monetary value was over $ 90 per portion. The SEC announced that they were traveling to look into Enron and by August 15, 2001, the stock monetary value had fallen down to $ 42 per portion, $ 15 by the terminal of October and closed at $ 0.60 per portion in late November before a bankruptcy filing on December 2, 2001. God And Descartes EssayIn Section 306, the Sarbanes-Oxley Act prohibits executives from selling stock during these blackout periods. During the Enron dirt, when employees were unable to sell their portions as the stock monetary value plummeted, but senior executives were. This resulted in many employees 401k s being wiped out. Furthermore, Section 306 ever requires that companies give their employees 30-days notice prior to a blackout period, or face $ 100 per participant for every twenty-four hours of a blackout period ( Grill ) .A A It is of import to understand that these blackout periods are, in most instances, wholly legal. They normally occur when there are administrative alterations in the 401k section. The job in the Enron instance is that while the blackout period was normal in nature and length, it came at a really bad clip, as the company was fighting and head executives were cognizant that things were merely traveling to acquire worse. Legal action can be taken in these state of affairs if it is deemed that Enron executives did non move with their employees best involvements in head when publishing the blackout period ( Marchiz ) .A Class action suits followed on the behalf of Enron employees. These suits were filed against Enron functionaries, Enron s comptroller Arthur Andersen, and Northern Trust, the 401k program s decision maker ( Enron 401 ( K ) Litigation ) . Retribution ( Recommendations A ; Conclusions ) Future companies must larn from the errors made by Enron through the usage of hazard direction safeguards. Since the clip of the Enron dirt, statute law has passed that give companies clearer guidelines to follow and inducements to move consequently. Clearly, one of the most of import stairss companies must take is to ahdere to the Sarbanes-Oxley Act, Section 306, when calculating out how to manage blackout periods. Executives must forbear from trading during blackout periods, and must give proper warning to employees when these periods are nearing. A great trade of the death of Enron was attributed to many people turning a blind oculus to evidently flawed fiscal records. A major issue addressed in the Sarbanes Oxley Act was forestalling such witting turning away. CEO s and CFO must subscribe off on all fiscal statements and letters that are issued to the populace. There was besides the issue of privacy, non revelation, change and straight-out devastation of paperss which is an obstructor of justness. Such actions are now penalized by mulcts and 10 to 20 old ages of prison clip. No longer can a corporation s accounting house provide any other services than accounting to said corporation, as to forestall a struggle of involvement. Most significantly the corporate organisation has been wholly restructured restructured. The board of managers must dwell of a bulk of independent members. The board must keep meetings independent of those with the executives. The compensation, audit and nominating commissions must dwell wholly of independent managers. Last the hearers must describe straight to the audit commission and non the officers and managers. Beyond blackout periods, nevertheless, Sarbanes-Oxley besides requires the Federal Sentencing Commission to observe ways for companies to better ethical civilization. Companies would be well-advised to follow these guidelines, such as: Instill a codification of moralss Train employees in the codification and in moralss, in general A agency for employees to describe misconduct ( ex: hotline ) Follow-up on studies of misconduct submitted by employees Action by the board on ailments Self-reporting and probe on ethical and legal issues Sanctions and expirations for those who violate the jurisprudence and company regulations A high-level officer to be in charge of using the codification of moralss ( Jennings, 61 ) Beginnings: A Enron 401 ( K ) Litigation . JPMorgan Chase. 04/10/2010 lt ; hypertext transfer protocol: //159.53.60.165/cm/cs? pagename=JPM_redesign/JPM_Content_C/Generic_Detail_Page_Template A ; cid=1159307685433 A ; c=JPM_Content_C gt ; .A A Grill, Bennet. Sarbanes-Oxley for Entrepreneurs . Gaebler. 04/10/2010 lt ; hypertext transfer protocol: //www.gaebler.com/The-Sarbanes-Oxley-Act-Title-III-Blackout-Periods.htm gt ; .A Honig, Stephen ; Morris, Duane. Rights and Duties of Public Employers, Executives and Lawyers After Sarbanes-Oxley.A Kautter, David. DOL issues Enron-driven blackout rules. . The Free Library. 04/10/2010 lt ; hypertext transfer protocol: //www.thefreelibrary.com/DOL+issues+Enron-driven+ % 22blackout % 22+rules-a096555837 gt ; .A A Machiz, Mark. PRESERVING Pension . PBS. 04/10/2010 lt ; hypertext transfer protocol: //www.pbs.org/newshour/forum/march02/enron5.html gt ; . SEC Adopts Rules on Provisions of Sarbanes-Oxley Act: Washington, D.C. , January 15, 2003. Welytok, Jill. Sarbanes-Oxley for Dummies. Wiley Publishing, 2008. Jennings, Marianne. Business: Its Legal, Ethical, and Global Environment. Mason, Ohio: Cengage Learning, 2008.A

What You Can Learn from the Essays of Yale Quadruplets

If youve been following college admissions news for the Class of 2021, youll no doubt have heard about the Wade Quadruplets. All four of them were accepted to both Harvard University and Yale University. How did they do it? Christopher Hunt from College Essay Mentor shares his experience working with the brothers and what you can learn from their essays. Quadruplets? All four accepted to both Yale and Harvard? Surely Aaron, Nick, Nigel and Zach Wade are a once-in-a-lifetime phenomenon, a sort of Haley’s Comet in the world of college admissions. As the college essay coach who worked with the Wade brothers, who are all chose Yale, I am confident that the odds of my witnessing similar success are low. Extremely low. I am also confident that while â€Å"quadruplet† grabs the attention of most any reader, none of the Wades was accepted to any college simply because he was part of a four-pack. Each brother had the high grades and the test scores to be a strong candidate at any school in the country. Each also had multiple, demonstrated interests outside of the classroom. In other words, the Wades were like thousands upon thousands of outstanding students from whom admissions officers must form college classes. How to explain their extravagant admissions? The Wades all understood the importance of an outstanding personal statement. Eager to stand out, they labored over their Common Application essays. Each one fretted over the choice of topic, wrote a passable first draft, and abided by a truth enunciated by Ernest Hemingway: â€Å"The only kind of writing is rewriting.† Multiple versions and hours of effort brought each one to 650 words that distinguished him not only from his brothers but also from any other applicant. What might future applicants learn from the Wades? Anyone who takes the time to consider their essays, which areposted on the New York Times website, will find four shining examples of three simple principles. Identify a True Trait Some would say that the Wades had it easy. â€Å"My Life as a Quadruplet† was a no-brainer topic for a college essay. Right? Not so fast. During our early conversations, four brothers applying to many of the same schools raised the reasonable concern that admissions officers who read all four essays would tire of â€Å"yet another† essay about the quadruplet conundrum. I agreed. The â€Å"quad thing,† I said, was intriguing but insufficient. I asked each brother to dig deeper. Janine Robinson, the author ofâ€Å"Escape Essay Hell!† advises students to begin the college essay process by identifying a â€Å"defining quality.† I do the same, preferring the term â€Å"true trait,† which I define as a force that guides your life. Like any applicant seeking to make an impression on admissions officers, each of the Wades needed to narrow the theme of his essay to a characteristic which represented his personal values. The Wades’ stories had common roots. â€Å"We were four boys who shared one face,† wrote Aaron. A similar sense of forced anonymity inspired each student to become more than â€Å"one of the quads.† So each brother wrote about his search for individuality, a trait that is true for many high school students. Tell a Story Another reliable rule is to choose the essay structure most likely to have an emotional impact. Far too many students write expanded versions of their resumes. Others try to make their case with a five-paragraph essay, an argument framework that is less likely to provide a sense of a student’s personality. But it is the narrative structure, a form familiar to anyone who reads novels or watches movies, that creates space for the personal details that feed admissions officers’ core desire to get past the numbers and see applicants as people. Asked how students should approach college essays, Jeff Brenzel, a former Dean of Undergraduate Admissions at Yale, said, â€Å"Keep it simple. Tell a story.† Nigel Wade traced the path from the day his father brought home a human anatomy book to the birth of his decision to become a doctor. Zach Wade wrote about creating an identity as a discus thrower on the track team at Lakota East High School. Nick’s story traced his path from an interest in Arabic to a scholarship to study for a summer in Morocco. Aaron wrote about finding himself the night he danced and sang Stevie Wonder’s â€Å"Sir Duke† to a standing ovation at his school’s talent show. Tapping material available to typical high school seniors, each brother crafted an essay with an intriguing beginning, a meaningful middle, and an emotional ending. Trust Your Voice A third essential of college essays, a distinctive voice, befuddles students, who wonder what admissions officers â€Å"want.† Students search for a style they believe with please the people with the power to admit or deny. Writing multiple drafts takes them even further from language that flows. Sentences written on a sunny Monday may not sync with those scribbled Sunday at midnight, leaving essays with an uneven quality. To the Wade brothers I offered a simple solution: read your essay aloud. When spoken, anything written to impress will sound awkward. Words pulled from the thesaurus will sound out of place. Noting the spots where the language loses flow, and inserting phrases that roll off of your tongue, is the best way I know to infuse an essay with the kind of distinctive voice that tempts colleges to say â€Å"admit.† Take some time to read their essays on the New York Times website. You can learn something from their essays and maybe even be inspired to write your own. For more application samples, browse through our database!