Limited Liability in a Company Essay Example | Topics and Well Written Essays - 1250 words

Limited Liability in a Company - Essay Example The word limited indicates that the liability of members in respect of company’s debts and other liabilities is limited to amount contributed or undertaken by the member to contribute in respect of share capital of the company. Limited liability protects shareholders against any financial loss exceeding the investment4. It has been termed as the greatest single discovery of modern times, even more than steam and electricity.5 As per Ross Grantham and Charles Rickett6, there are certain economic justifications for such restriction of liabilities of a member of a limited body corporate. The limited liability reduces the shareholders’ responsibility to monitor corporate managers because the financial consequences of company failure on shareholders are limited. Corporate managers work efficiently for profit maximization because limited liability induces free share transferability that would force shareholders to withdraw funds from unprofitable ventures. Directors who run the company can take risky decisions as well as they aware that shareholders have nothing at stake.7 That is why Tony Orhnial8 states that limited liability ‘is not related to company structure but to the business’s economic risks, and is instrumental to the encouragement of entrepreneurial risk bearing and innovative attitude’. The principle of creating a limited liability company is that debts in case of failures cannot be carried back to founders9. Limited liability works as an extra non- taxable incentive for investments besides dividends and capital gains on transfers of shares that are taxable. Moreover, the attribute of ‘limited liability is quite significant when work locale, machinery, chemicals, or even artwork are potentially hazardous’10 Limited liability has helped to develop public share market.11 The primary objective of limited liability is to  encourage investment by the public in risk-taking enterprises by insulating the investing public from debts of the enterprise.

Effective communication skills Essay Example | Topics and Well Written Essays - 2000 words

Effective communication skills - Essay Example In verbal communication, people make use of tongue for the exchange of information whereas in nonverbal communication, people make use of eye contact, body language, gestures, and appearance to send nonverbal messages to other people. Nonverbal communication plays a vital role in making the entire process of communication successful and productive. Language plays an important role in making communication effective. It covers the rich complexities that a person faces during the process of communication. If a person wants to communicate in a language other than his/her own language, he/she first needs to know the meanings of different words used in that language. It not only adds meanings to the words but also enhances the ability of a person to use those meanings for constructing sentences. Along with language dependency, communication between any two persons also depends upon the nature of relationships that exist between them. For example, the nature of communication that takes place between a person and his family members is different from the communication that takes place between that person and his boss. Therefore, we can say that communication is influenced by the nature of relationships that exists between individuals. If we discuss the importance of effective communication within the context of accounting and finance, we can say that communication plays a considerable role in improving the concepts of an individual. I personally feel that my accounting concepts have improved due to the communication which used to take place between my professor, classmates, and me. All of us used to share our concerns with each other which helped us get a deep understanding of all issues related to accounting and finance. Emotional intelligence, on the other hand, is the ability of a person to assess emotions and feelings not only of himself/herself but also of other people. â€Å"Emotional intelligence refers to the effectiveness of an

Business Law Essay Example | Topics and Well Written Essays - 250 words - 2

Business Law - Essay Example In that case, the Court rendered the term unenforceable because it appeared only at the bottom of the web page after the download button, depriving the customer the opportunity to read it first. This is not true however, in the present case because Dell not only advertised the terms in its website but also enclosed a written copy of it with the delivery of the computer to the customer. Generally, the courts will find for arbitration if it clearly appears that an agreement thereto was reached between the parties and even if there are doubts such as in the case of NCR Corp v Korala Associates, Ltd 512 F 3d 807 (2008) but may decide against it, even if there was agreement, if it is obviously one-sided such as in the case of Circuit City Stores Inc v Adams 279 F 3d 889 (2002) (cited Miller & Jentz 2009 52, 53). The present case, however, is distinguished from similar cases where the court held shrink-wrap agreements and arbitration clauses valid by its absence of an express disclaimer informing the customer of the specific method by which to express his or her rejection of the terms, usually a return of the product as was in the case of ProCD, Inc v Zeidenberg 908 F Supp 640 (1996). The implication of this is that DeFontes has no notice that a rejection of the terms should be expressed by returning the product and therefore, as to her, the arbitration term is not bind ing. She therefore, has good chances of dismissing Dell’s application for

Physical science Essay Example | Topics and Well Written Essays - 250 words

Physical science - Essay Example prejudice and stereotypes; â€Å"lawn maintenance schedules are inconvenient.† This is a misconception because it is based on faulty information; lawn maintenance schedules can be efficient depending on the level of grass at which one wants the lawn to thrive. One may want a thick, manicured, and lush grass garden; alternatively, one may want a simple lawn of short grass. The internet and other credible sources present a wide variety of scheduling resources and systems for lawn owners depending on the level of maintenance one wants to achieve. The second argument is based on inductive reasoning; â€Å"turf becomes better the more it is irrigated.† This is theoretical and a misconception due to lack of biological and chemical knowledge; in Arkansas, more fine turf is destroyed as a result of overwatering than from under-watering. Lawns should be watered early in the morning and once a week in the summer months. Research shows that most cultivators of bermudagrass spend less on water than those who use zoysiagrass. The third argument is based on red herring; â€Å"lawn maintenance is expensive as compared to xeriscaping gardens, which take up less water†. This is a red herring argument since it diverts the topic of lawn maintenance to the water issue. While it is true that water is a problem in the United States, lawns can be effectively watered to reduce wastage. Watering in the heat of the day is ineffective. Watering late in the afternoon is less costly and an effective way of maintaining the

Workplace Motivation Essay Example for Free

Workplace Motivation Essay The theory of motivation in the workplace is defined as empowering others to perform tasks they would not normally perform. Considering there is a multitude of ideas, theories, and methods promoted by experts in the area of employee motivation, choosing the correct method is daunting. The goal is to select one or combine methods that will motivate employees to excel in the workplace and attempt to increase employees’ personal satisfaction. The challenge in all organizations is to create a perfect balance between employee motivation and how to implement and sustain the program. Positive reinforcement has proven to be one method easily applied in the workplace and is conducive to higher productivity and profitability. However, diligence by the management staff must be required to create and maintain the motivation level of employees. The motivation level of the dispatch department at Prime Satellite had been an issue of contention with the management for many years. The turnover in that particular department exceeded any other department in the company. Admittedly the job was a stressful and frustrating position. These employees were also the least paid per hour than other employees at the company therefore, the massive turnover problem. I had been employed as the technical customer service manager for six years at this time. My department and the dispatch department worked closely to maintain a high-level of customer service. Observing the constant stream of new employees in the department and low morale, I suggested changes to the owner. The owner asked me to become the dispatch manager to correct the situation. The first change was in the recruiting and hiring process. The previous candidates for the position had not been selected on a specific skill set because the job duties were undefined. The job required a person who could understand technical information in addition to possess excellent communication skills. These employees had to relay detailed information not only to satellite technicians but also customers. The most important skill the employees required was intrinsic motivation because the employees would have to work autonomously once they were trained. Understanding the job duties, the company began hiring more competent people. The pay was increased by two dollars an hour to recruit the talent to create a fully functioning and productive department. The first change to the training procedure was to engage the employee to discuss her ambitions and her expectations from the company. I thought this was important to create a dialogue and a sense of belonging. A history of the company was explained to each new hire. This became important because the employees could envision a future with the organization. The business was rapidly expanding and the new employees were encouraged to participate in the exciting possibilities. The next change was in the training process. The department had five employees who required retraining. This action was not received with enthusiasm by four of the five employees. The lack of motivation and low morale of the department had created an environment of apathy. Therefore, retraining was futile. I recruited and hired four new employees within the first two months of managing the department. The new environment was happy, positive, and creative. I could not authorize monetary rewards. However, praise and recognition are free. This created a team of motivated and positive people because teamwork does not depend on monetary compensation. The sense of belonging provided the employees empowerment over their daily duties. Employee satisfaction correlated with the productivity of the department with an increase of 150% within 90 days of implementing the new policies. The humanistic view of motivation may have critics but in this situation the theory proved to be effective. The new procedures were not without pitfalls. Each employee had her own work ethic, cognitive skills, and level of motivation. Learning each employee’s characteristics and habits assisted me in learning how to discipline and reward each individual. This challenge proved to be one of the most rewarding experiences in my work experience because I believe in self-actualization and encourage it in others. The employees were encouraged to develop new skills and techniques to improve their own performance. They were the people performing the job on a day-to-day basis therefore each employee’s suggestion was considered to develop new strategies to eliminate repetition and enhance productivity. The more the employees became engaged in creating procedures, assumed responsibility, and provided feedback the more motivated they were to perform. The incentives the employee’s enjoyed could not be monetary but developed into a sense of worth and accomplishment. Remember, this was not an easy job. The employees had to speak to frustrated, angry technicians, customers, and salespeople. The stressful situation required diffusing on occasions. In those situations, the best solution became a long break and discussion. The employee would be taken to a quiet area of the office and allowed to vent, complain, or just talk through the stressful situation. This not only relieved the stress for the employee but also gave her the sense of validation that the company understood and most important cared about her well-being. I had created a team of people who worked for low pay yet had high motivation because of one simple fact; they were treated with dignity and respect. They were dedicated to perform to the best of their abilities because they could not let the team down. The previous attempts to increase employee retention in the dispatch department failed because the manager used fear to control the employees. He used the old scenario of â€Å"they get a paycheck, what more could they want† method. This extrinsic motivation technique did not apply to this situation of this company or any other. People need more in their workplace than a paycheck. They need to believe they are doing something worthwhile to be intrinsically motivated. What happened next in this organization will validate the last statement. The ownership of the company changed. The changes to the culture of the entire organization were profound and created a cognitive dissonance. The focus of the new administration was the bottom line and nothing else. Promises were not kept and threats of joblessness prevailed. Motivation plummeted. Extrinsic motivation was the only motivation for all the employees. The new method of motivation was not sufficient to retain the best employees. Benefits were curtailed, bonuses and raises were suspended, and recognition was nonexistent. The Expectancy X value theory was destroyed for those employees who depended on that type of motivation. Praise for a job well done became extinct because the new owner decided it was not necessary. The exclusive reliance on extrinsic motivation will fail if intrinsic motivation no longer exists. The employee retention problem returned with vengeance. Within the first 90 days after the new ownership, the department lost three of its best employees because the support for self-actualization ceased to be an important factor. Humans do not tolerate negative changes to their environment such as the workplace. If a hygienic environment becomes confused with misinformation, distrust, and lack of security it will become toxic. This became a very toxic workplace for all involved. Obviously, this was not the correct motivational theory to apply. The company closed one year later. Motivation is imminently important to any organization whether it be business, school, social group, or a family. The more humane and positive the motivation, the more productive anyone or anything will become.

Enironmental Pollution Essay Example for Free

Enironmental Pollution Essay Environmental Pollution is one of the biggest challenges faced by most societies in this modern era. It has become a paradox of our time that urbanization and development be associated with environmental degradation. In man’s quest for social growth, nonchalance to nature’s laws have set in and this has disturbed a number of natural phenomena. The industrial revolution has brought with it technological advancement, such as the discovery of oil and fossil fuels and its virtually universal use in a diversity of industries. Further more rapid growth in population is established to be the fundamental cause of environmental framework collapse. Population growth increases the need to produce consumer commodities and this desire is transformed into a necessity to abuse environmental resources. Population growth creates certain negative environmental issues. These issues could be economic or social by nature. Their consequences range from a decline in air and water quality as well as deterioration in infrastructure and significant health hazards. A rapid growth in human population within the city propagates pressure on the framework of such cities and its natural resources. As cities begin to expand, they take a toll on existing rural areas, creating diverse environmental challenges such as reduced biological habitat as well as pollution of nature’s resources. The increased densities of industrial areas within cities, large number of automobiles and commercial enterprises add to increased health hazards and complete breakdown of ecosystem. Development of thought Our environment plays an important role in life. Man has equally been an active participant in the process of impacting on the environment through population and greenhouse effects. Obviously the growing population indicates a higher usage of resources thus leading to a greater deal of increased pollution. Therefore pollution of the environment has become an issue of significant discussions and diverse consequences. In recent times, the rapid growth has forced the natural environment to change drastically. A greater part of such change can be concluded to be negative with daring implications. Conclusion In light of the mentioned consequences of environmental pollution and the already visible degradation it has imposed on the environment. I would recommend the following bearing in mind that significant measures which must be cost effective and in line with budgetary allocations be taken into consideration. Pollution control Legislation of point sources The social, economic and ecological significance of conservation of the environment cannot be contestable; if pollution is to be maximally reduced, the need to appraise or look into the current levels of pollution, and environmental protection legislations within the city, with a view of presenting a new legislation. New legislated standards should be proposed since already existing legislations are found to be somewhat irregular and deficient. Also the advantages and possible problems of the proposed legislation can be debated upon and discussed. Encourage alternative transportation Alternative means of transport should be highly promoted. Cycling and walking do not propagate any sort of environmental degradation as opposed to the use of vehicles, which through the use of gas and fossil fuels are a significant actor in the downward slide of the negative environmental conditions. This recommendation takes into consideration that this measure might affect the convenience and time related factor that society has grown to enjoy from such vehicle technology. Establish green spaces or urban forestry The establishment of green spaces and urban forestry would lead to a significant decline in civilizations environmental footprints on the environment, meaning the least amount of pollution and emissions. This will facilitate the cleaning of emissions as they are released as well as restoring the ecosystem and natural balance of the environment. Of course this will have to be done without curtailing people’s freedom and rights or the world’s economy. Promote fuel-efficient cars It is a fact that a large percentage of pollution comes from emission of vehicles. It is recommended that alternative fuels or fuel efficient vehicles be encouraged. Means of transport which would be significantly friendly to the environment. Alternative fuel sources would also play an effective role in the reduction of pollution. This recommendation assumes that the alternative fuel type will displace a similar amount of current fossil fuels. It does not consider consumer acceptance or infra-structure issues that will impact the market penetration of these alternative fuels. Implementation of these recommendations would bear a total cost of about $16.2M and is well within the confines of the City Councils Budgetary allocations on tackling environmental issues. Decision-making about environmental issues necessitates the maintenance of a fine balance between the effectiveness of measures and the public reaction towards them. This simply means that in as much as the recommendations tend to curb and reduce the effect of environmental pollution, it might come off as inconveniences to the general public and thus   promote a negative reaction from the people of the city. The implementations and measures no matter how effective will put a strain on the convenience of the public, regardless to say that such measure will be beneficial both in the short run and long run.

Why should we study military history?

Why should we study military history? What is it about the question, why should we study military history that raises such a storm of conversation? In a society that expects education to serve a useful purpose, the functions of history can appear more difficult to define than those of medicine or nuclear physics. History, specifically the study of military history is very useful. In an age of intercontinental ballistic missiles, the old subjects of strategy and tactics can seem obsolete. The importance of the battles of Little Big Horn during the Plains Indian Wars or Kasserine Pass during World War II in North Africa might not be evident if you are thinking only in terms of pushing big red buttons. It is imperative for civilian leaders to understand the military issues before them and the lessons that Soldiers of the past fought so hard to learn in order to prevent new generations of Soldiers from learning them all over again. Its no surprise that American civilians tend to lack a basic understanding for military matters, not to mention military history. In a society that expects education to serve a useful purpose, the functions of history can appear more difficult to define than those of medicine or nuclear physics. History, specifically the study of military history is very useful. Today, universities are even less receptive to the subject. This should be profoundly troubling to our society. A democratic nation should fully understand war, especially in an age of weapons of mass destruction and religious radicals attempting to spread their ideals by using terrorism. Neither most of our citizens nor many of our politicians seem to recall the incompetence and terrible decisions that, in June 1876 and February 1943, led to massive American casualties as well as much public despair. Its no surprise that many Americans think the violence in Iraq is unprecedented in U.S. history. Nearly 4,000 combat dead in Iraq in four and one-half years of fighting is a terrible thing. The American people still bicker about total withdrawal, defeat, up-armored HMMWVs and proper troop levels. But a previous generation considered Okinawa an overwhelming American victory, despite losing, in a little over two months, four times as many Americans as we have lost in Iraq (Hansen, V. (2007). Why Study War?). It has been stated in many news articles that the current rate of U.S. casualties in Iraq would take 75 years to total the same amount of casualties that we experienced in 10 years of fighting in Vietnam. One American casually is too many, but war is an ugly beast, peo ple die. That is why it is so important that our politicians and public understand what war is really about. Military history is not a bunch of cookie-cutter answers to each and every problem facing a young military leader or our nation today. Germanys victory during World War I over Russia in under three years and their failure to take France in four years apparently misled Adolph Hitler into thinking that he could defeat the Soviets with little problem. After all, Germany defeated the historically tougher France in just six months (Thompson, F. (2007). Remember the Past.). The battle at Little Big Horn in Montana is studied to this day by military leaders. What could possibly be learned from a battle that took place over 130 years ago? The tactics and weapons are antiquated by todays standards. The Indian wars are the stuff of legends and a few B-grade movies, or are they? What exactly can we learn from Custers defeat? One thing for sure about Custer was that he was arrogant. Custer was a successful commander from his days in the Civil War up until his death on a hot and dusty hilltop in Montana in 1876. The defeat at Little Big Horn, as are most defeats in hindsight, was avoidable. Custer had the best Soldiers and the best equipment of the time period. The initial plan to force the Indians back to the reservations appeared to be sound if executed properly by the three large columns of Soldiers involved. Communication became a large factor for the participating commanders. Custer, Gibbon, and Crook all had key parts to play for the execution of the plan to work. Timing was a key in order to ensure everything went according to the initial plan. However, General Crooks column of about 1300 Soldiers was attacked at Rose Bud Creek by almost the same number of Sioux only nine days prior and 30 miles away from the sight of Custers defeat at Little Big Horn. General Crooks men were so badly mauled that they were forced to return to the South for supplies and to treat their wounded (Hardy, S. (2004). Custers Last Stand.). Crooks column was a key element in the hammer and anvil plan that was to be executed. Custer had no idea that Crook had been defeated by such a large number of Indians or that his column would not make the scheduled rendez vous time and location. After locating the main Indian encampment, Custer was told repeatedly by his scouts that the Indian camp was the largest that they had ever seen and there would be at least 1800 to 2000 warriors in the camp, probably more. Custer ignored this advice. Custer initially made a plan to bed down his command and attack at dawn the next morning. Not only thinking his men would be fresh for the fight but that Crooks column would be arriving at any time. Custers scouts reported that Indian scouts had seen the command and were reporting back to the Indian camp. Actually, the Indian scouts were leaving the camp to return to the reservation and they had not seen Custers command at all. Custers orders were to locate the Indian camp on the Little Big Horn River and not let them escape. With these orders, the lack of knowledge of Crooks situation and the then common knowledge that the Plains Indians would not stand and fight but disengage after a short fight, Custer decided to attack. The fact that Custer split his command into three separate battalions is a constant source of debate. This also was a standard practice when fighting the Plains Indians at that time. What lessons can we learn from Custers tragic defeat? Sound intelligence of the enemy situation is a must. Custer had solid, eyes-on intelligence from reliable sources but ignored it. The lack of communication was also a huge factor. Many leaders and historians believe that Custer would not have attacked the Indian village that day if he would have known of Crooks defeat and the number of Indians that attacked Crooks column. The Indian tactics had changed. Custer not only did not know this, he completely underestimated the Indians ability and will to fight as well as over estimating the ability of his own men. The chances are pretty good that Custers own arrogance very well may have overridden all of the hindsight knowledge that we now have. One of the main lessons to take from Custer is this; it is only a matter of time before an arrogant leader will fail. Arrogance and underestimating the enemy you face is a lesson that seems to be learned over and over again. In Tunisia during 1943 the American forces were inexperienced and poorly equipped, at least compared to the German forces that they faced. The Kasserine Pass is gap in the Grand Dorsal Mountain chain in central Tunisia. The German Afrika Korps were veteran Nazi forces commanded by the brilliant Erwin Rommel. Rommel was retreating from advancing allied (British) forces. Rommels counter attack was aimed directly at the inexperienced American forces and backed them into defensive position in the Dorsal Mountains (M. Haze, (2002). Battle of Kasserine Pass). The American equipment was of no match to the superior German tanks and firepower. The American tanks were riveted together. When hit, the tanks rivets broke loose and killed and wounded as many men as the German shell that hit the tank. The American tanks and thin armor and the tanks cannon could not be aimed as effectively as t he Germans or penetrate the German armor even if the Americans were lucky enough to hit a German tank. The battle at Kasserine Pass was a defeat for the green Americans. The Americans learned many valuable and expensive lessons from the Kasserine Pass debacle. Leadership and tactics were changed. Equipment was immediately updated. The Germans learned some lessons from Kasserine Pass also. For the rest of the war, the Nazi high command relied on reports sent from Rommels men regarding the Americans inferior equipment. They apparently never grasped the idea that the U.S. weapons constantly improved throughout the rest of the war. After the battle Rommel was contemptuous of both the U.S. equipment and fighting ability. He basically considered them a non-threat. Based on the knowledge gained at Kasserine Pass the Germans greatly underestimated the skill and resolve of the American Soldier. War is about killing, pain, and fear, and any attempt to disguise this or portray it otherwise is not only wrong but immoral. War is not only killing, pain and fear. It is the purposeful use of force to achieve political goals. Anyone who thinks that this statement is less than black and white has not spoken with the troops on the ground during one of our wars that was blessed by political approval. Many Americans today believe that anyone who studies war must approve of war as though anyone who drives a car must naturally approve of car wrecks. How much farther from the truth could these people be? There are many reasons to study military history in our schools and colleges. America is once again at war and this time there is really no end in sight. We are fighting for our basic way of life. The study of military history for our civilian wartime leadership is critical. Politicians start wars and politicians lose wars. Todays young people are tomorrows leaders, both in politics and the military. If for no other reason than we want to avoid war whenever possible, universities and public schools should at least offer the option of studying military history.