Corporate Social Responsibility (CSR) planning in Toyota Motor in Essay

Corporate Social Responsibility (CSR) planning in Toyota Motor in Europe in 2010 - Essay Example This research will begin with the statement that with the onset of the economic slowdown during the recession period Toyota have gone through several challenges for a sustainable growth in the business environment. In spite of such a tough situation the company has always ensured safety and customer satisfaction to the top priority and implemented several strategies for a better understanding of the market as well as for the environment. After the recession period, the company has gone through a fresh start and steer towards a new growth direction with its new Corporate Social Responsibility (CSR) approach. Always committed to supplying safe and reliable vehicles for the market the company always looked after the dynamic need of the customers and the marketplace together. In the process, the company has great support from the stakeholders and the people related to the company who helped for this sustainable growth of the company in the competitive environment. The company is not only into the development of safer car as its CSR approach but also involved into serving the people associated with the company business who provides the high-quality products from the company for the growing market needs. With the global crisis of energy Toyota also looks after developing eco-friendly cars for the society and grows in hand with the environment with the safe and reliable vehicles for the society. For an efficient handling of the Corporate Social Responsibility program, the corporate team has established the CSR committee who are into the management process of the CSR departments and the promotion of the approach and help the company to implement strategies for its CSR activities. The legal compliance is looked after by the core Corporate Ethics Committee and the Philanthropy Committee manages the social activities for a better reach and promotional activities which facilitates the process of long-term growth for the company. The management of CSR activities for Toyota consistently looks after the improvements of the different processes for the firm. The Corporate Social Responsibility program for the company is primarily focused towards the assessment of the internal as well as the external entities for the firm. The assessment program gives the chance for the company to look after and identify the weak points of the company and evaluate strategies accordingly for the midlevel and long-term growth of Toyota.

Estimating Purchasing and Cost Control Essay Example | Topics and Well Written Essays - 1750 words

Estimating Purchasing and Cost Control - Essay Example Cost management is an integral part of financial control and management in any for profit and non-profit organisation, notwithstanding the industry or sector. The same applies particularly to the engineering and construction sector in which the huge amounts of financial and other resources pumped must be accounted for to stakeholders such as the government, project funders and the public/customers.Unfortunately, for various reasons, many countries’ construction sectors lag behind in the use of cost control techniques such as the Cost Value Reconciliation (CVR) and Earned Value (EV), two rather common methods of cost control. Many a stakeholder cites the technical skills and the huge resources required as the reasons many constructions firms and financial managers do not apply CVR in their cost control practices. Most affected by the cost and skill requirements of CVR and other cost control techniques such as CVR and Earned Value (EV) are the small and medium-sized construction and engineering firms that lack the wherewithal to design and implement these techniques of cost control. The other reason for the little use of cost control techniques such as CVR and EV is the apparent lack of literary coverage and information on these methods, implying that stakeholders are not quite conversant with the metho.Nonetheless, these methods are generally used in the construction and engineering industry to measure and monitor project progress, profitability and performance for their strengths. One advantage of EV is that it is capable of combining the assessment of work cost, schedule and scope in a single integrated process or system. What is more, Earned Value gives accurate information and forecasts on project problems, which are important contributory factors in project management. EV has been shown to affect project planning and control aspects more even as it improves project scope and the analysis of project performance. EV is thus a positive predictor of proj ect success. The popularity of EV is evident in the many government contracts that are assessed using this method, more so in its application to assist substantiate contract disputes. This paper explores the use of cost control methods such as the Coat Value Reconciliation (CVR) and the Earned Value (EV) with regards to their effectiveness in providing information on costs, in the monitoring work progress, their benefits, ease of use, advantages and disadvantages. Practicing CVR and EV The importance of using these cost control methods in the construction and engineering sector is the uniqueness and the uncertainties that characterise each project. In fact, every project in the industry has its own set of challenges and hardships that affect not only their successful completion but also their effective use of the available resources. The uncertainties inherent in construction projects result in losses and ultimate project collapse even for big, long-established, sophisticated and fi nancially endowed constructors (Potts, 2008). With more sophisticated structures being ordered by clients every other day with the budgets getting tighter by the day, construction firms must embrace cost control and sound finance management to achieve their objectives. Just like any other cost control measures, CVR has several core elements or principles by which it is successfully applied to give the required data. Important in CVR are the totals for cost and value, which are crucial in establishing a firm’s profitability (Sidwell, 2005). In this regard, CVR’s major objective is to achieve accuracy while displaying a firm’s accounts. CVR’s display of financial accounts and position is thus among the most accurate compared to other methods. It is thus quite apparent that CVR seeks to portray a firm’s statutory accounts as a legal obligation (Sidwell, 2005). Additionally vital is CVR’

What are the main determinants of bank failure Essay - 1

What are the main determinants of bank failure - Essay Example e recent financial crisis has raised a large number of concerns about the strength of the current banking system to provide stability to the financial markets. Banks taking too much risk are highly prone to fail unless they have hedged their risks properly. Banks may fail if equity is insufficient to provide a safe cushion to write down any non-performing loans (Kolari, pp. 361-387, 2002). Before recent financial turmoil, banks were more concerned about their profitability. They attempted to maximize profits to increase shareholders wealth by increasing their financial advantage. A large deposit base provided for high financial advantage for banks, while their equity cushion continued to diminish. Most banks were using a ratio of more than twenty times debt compared to their equity (Goddard, pp. 1911-1935, 2007). Low level of equity provided a very small cushion for the banks in case of a financial turmoil. A bank with three percent equity could suffer a loss of all its shareholders wealth if it lost just a minor fraction of its loan assets. For example, bank with an equity base of 10 billion pounds and a loan base of as high as 300 billion pounds, would have lost all its equity with a decrease of 3.33% in the value of its loan assets (Altman, pp 589-609, 1968). Banks need to manage their liquidity risk with extreme caution. A bank that maintains to little liquid reserves can go bankrupt if it fails to meet its obligations on time. These obligations include payment on demand deposits and interest payments to depositors holding cash in their saving accounts. If the bank is holding too little cash, it can usually borrow money through inter-bank borrowing at the federal funds rate (Ohlson, pp. 109-131, 1980). However, at times of financial crisis, the liquidity of the market could be low. In the recent financial crisis rumors about bank failures resulted in a run on banks. Depositors wanted to withdraw their money before a suspected bankruptcy. On a usual day banks

Scientist Leonardo da Vinci Essay Example | Topics and Well Written Essays - 1000 words

Scientist Leonardo da Vinci - Essay Example Da Vinci's art was an integral part of his science, and a way to enact the scientific discoveries that he was unlocking at the time. Leonardo da Vinci would immerse himself deeply in the observation of nature, and through meticulous study uncover the mysteries behind it. Still, it has been only recently that Da Vinci's scientific work has gained the recognition that it deserves, and the importance of his science continues to be revealed today. Leonardo Da Vinci was many things and had many talents, but when taken together he was first and foremost one of the most renowned scientists in the history of the new world. One of the most important features about Da Vinci the Scientist is that Leonardo considered himself a scientist above all, and all his other endeavors were supporting of his understanding of science. The fact that he considered himself a scientist first can be seen in one of his most famous works of art, the Vitruvian Man. While it is fundamentally a work of art, it combines anatomy, proportion, and geometry in an effort to link man, nature, and science. In Da Vinci's version of the Vitruvian Man, he had "developed an obsession with the infinity of geometric transformation as exhibited by his attempt to square the circle" and the image he created was of a female figure with "many of the traits still deemed ideal" (Papel, Thieme, and Frodel 97-98). The image is still used by the scientific and medical community as a point of reference for form and proportion. In this way, da Vinci had found a scientific expression for the beauty of the human body that has stood the test of centuries. To da Vinci, this was not simply art, but was more importantly a work of science containing a myriad of different disciplines. Understanding the importance of da Vinci as a scientist requires an understanding of how far ahead he was of the scientific thinking of the time. Da Vinci was one of the first and foremost proponents of the scientific method. A recent exhibit of "The Inventions of Leonardo da Vinci" presented at Hampden-Sydney College noted that da Vinci, the scientist, "recorded his observations meticulously and sought explanations by comparing one natural phenomenon with another. He conducted experiments to test and verify his hypotheses, recognizing that observations and experiments had to be repeated many times before generalized conclusions could be drawn" (Hampden-Sydney College). This approach to the study of nature fundamentally changed the ways in which the scientific community approached a problem and sough to gain truth. His careful observation of nature, the application to his inventions, and the revolutionary thinking is evidenced by his flying machines. In 1483 da Vinci designed a compl ex machine capable of hovering that would become a helicopter 500 years later (Castillo, Lozano, and Dzul 4). According to Anderson, "Interest in the 'proper' shape for an airfoil dates as far back as the late 15th century and Leonardo da Vinci's ornithopter designs" (304). These designs reflected da Vinci's scientific understanding of nature, and his drawings were merely his method of modeling and recording the science. In addition to being centuries ahead of the science and the scientists of his day, da Vinci was also one of the most prolific scientists in history. His scientific endeavors covered

BUSINESS & GOVERNMENT Article Example | Topics and Well Written Essays - 1000 words

BUSINESS & GOVERNMENT - Article Example Further, the managers at Wal-Mart would work closely with the government to ensure that incentives offered are utilized for the growth of the company. Government is working hard to put in place long term measures that will save businesses such as Wal-Mart in case of an economic meltdown. For instance, introduction of greater ties between the interests of business and society influenced operation of Wal-Mart in terms of designing its products and services for its customers. The new regulations that the government has put place aim to promote desired behavior by preventing the company from exploiting customers. For example, Wal-Mart Company had to ask its suppliers to report about its sustainability programs by asking them to report on their environmental concerns such emission of greenhouse gases. In addition, Wal-Mart is offering funding for the development of the second party consortium, which aims to give information about the environmental footprint of its products. Other public c oncerns such as creation of environmental friendly products, workplace education, and training influence how Wal-Mart operates. As Wal-Mart aims to expand outside the US, government is decreasing control across national borders which implies that it is easy to circumvent tough business regulations at home while at the same time getting more friendly rules overseas where the company will be able to make profits (Reich, 2009). The move by the government to be less involved in the operation of businesses has created a close working relationship between government and businesses. For instance, Wal-Mart is opening supercenters and small shopping centers across the US to reach all customers. More so, this has enabled it to venture into other businesses such as banking, travel services, internet services and used cars. Reich (2009), states that, the government is coaxing its operations but not regulating it, which in turn has made the company successful. If the government engaged in regula ting behavior, it would have blocked innovation at Wal-Mart but the introduction of coaxing measures has encouraged its innovation and expansion in US and other parts of the world. Furthermore, the government has allowed Wal-Mart to decide how to achieve its desired outcomes. For example, rather than force the company to offer specific employee benefits, Wal-Mart has been allowed to offer a minimum amount per employee into a common fund accessible to those who do not get such benefits. Wal-Mart managers engage with the government as opposed to shielding it from participating in its activities. In this manner, it is of great benefit because the system is efficient and affordable whereby both parties benefit. For any business to succeed, managers need to devote attention to public concerns and try to come up with solutions before those concerns develop into political action. For instance, it is important for Wal-Mart to convince its customers that they will produce quality goods at lo w prices. Wal-Mart has been vulnerable to attacks regarding ethical issues. In this purview, they have been accused of providing low pay and poor working conditions to workers. Environmental issues also threaten Wal-Mart’s success. This is against government demands, which requires that all businesses must be responsible for the activities. Further, they have to develop public trust to enable the business thrive. Managing the extended enterprise Corporate social responsibility is the ability of a company to conduct its business

Ratio Analysis on Literature of Review Essay Example for Free

Ratio Analysis on Literature of Review Essay I also declare that I have done my work sincerely and accurately even then if any mistake or error had kept in it, I request the readers to point out these errors and guide me to remove these errors in future. Presentation Incharge Signature of the Candidate Practical work experience is the integral part of individual learning. An individual who is learning managerial concepts has to undergo this practical experience for being a future executive. It is the result of various factors. Primarily because of rising cultivations of BT. cotton (Bacillus thuringnsis) and reduce the farmers input costs, while the yield as well as quality are substantially much larger compared to traditional varieties. In view of this development, the cotton cultivation acreage has been steadily going up in India. The farmers have become more knowledgeable to follow scientific methods to cultivate high yielding long staple cotton varieties. Besides individual mills are also simultaneously taking steps to improve the cotton production along with Technology Mission on cotton (TCM), the cotton development research Associations of organizations (CITI), South Indian Textiles Mills Association (SIMA) and Kerala State Textile Corporation (KSTC). The resultant factor is quality and quantity of raw material supply has substantially improved in the country. Due to globalization of our economy, the conscious of quality inputs and pricing have become competitive to the international standards and prices. Supply of quality raw material availability sources of raw material from major cotton exporting countries. Every organization is a deliberate and planned Endeavour of people whose common goal can be achieved through attainment of targets and goal by individual members in it. No organization can survive for long unless it takes care of prudent utilization of resources particularly human resources. In brief, good business is generally the result of good organization which can emerge only if it consists of good people who work together as a team. The textile industry occupies a unique place in our country. One of the earliest to come into existence in India, it accounts for 14 per cent of the total industrial production, contributes to nearly 30 per cent of the total exports and is the second largest employment generator after agriculture. The Indian textile industry is one of the largest in the world with a massive raw material and textile-manufacturing base. Indian economy is largely dependent on the textile manufacturing and trade in addition to other major industries about 27 per cent of the exchange earning are on account of export of textiles and clothing alone. In India organized textile mill sector has increased from 1787 in 2003-04 to 1789 in 2004-05. During the year 2003-04 the production of yarn was 3051. 07 million kg and it had increased to 3220. 59 million kg in 2004-05. The number of workers worked in textiles mills during the year 9, 18,000. India has the second-largest yarn-spinning capacity in the world (after China), accounting for roughly 20 percent of the world’s spindle capacity. India’s spinning segment is fairly modernized; approximately 35 to 40 percent of India’s spindles are less than 10 years old. During 1989-98, India was the leading buyer of spinning machinery, accounting 2003-04 was 9,28,000 and it have decreased during the year 2004-05 was for 28 per cent of world shipments. India’s production of spun yarn is accounted for almost entirely by the organized mill sector, which includes 285 large. Man-made fibers, wool and silk segment grew by modest 4. 5 per cent per annum during the 5-year period 2000-01 to 2005-06. During the first year of quota-free global trade, production increased leaps and bounds. Textiles production increased 10 per cent over 2004. The growth was fuelled by a 22 per cent rise in production of other textiles (including apparels). Cotton textile also posted an increase of nine percent. In the last six years, an estimated US$ 6. 7 billion has been invested in the textiles sector, aided by the Technology Up gradation Fund (TUF) scheme. The TUF scheme expires in March next year (2007) and the quotas on China will be lifted in 2008. Hence, companies will continue to add capacities over the next year. Also, according to CRISIL, the sector is likely to rise over US$ 3. 5 billion from the capital markets in the next few years. The cotton textile industry, one of the oldest and major consumer industries in India, has assumed national importance by virtue of size, investment, output and employment. The industry produces a wide range of fabrics to suit specific needs of consumers. Further, the cotton textile industry occupies a pre eminent place in the Indian economy by contributing a major share and to the countries industrial production and providing cloth to its millions. The industry also serves by providing direct employment to 60, 00,000 workers in several of its related activities. India is one of the largest textile producing countries in the world. The share of the industry in the export basket of India is around 20%. However, textile industry is vast developing sector and when the competitions are exorbitant especially in its design and quality we have to adopt modern technology management, machine so as to complete with other countries in the international market.

Ross Theory Of Prima Facie Duties

Ross Theory Of Prima Facie Duties Prima facie, a Latin name is mainly used in academic philosophy and law to mean apparently correct or at first glance. The idea of prima facie duties first originated with David Ross, who was a Scottish philosopher. Ross was among the great proponents of intuitionism or ethical pluralism theory. According to the theory, good is indefinable and there exist moral truths which are self evident (Ross, 2002 Pg 4). According to Ross, there are various prima facie duties that people can use in determining the concrete thing to do. In this case, a prima facie duty refers to a duty that is obligatory or binding, holding other things equal, unless any other duty or duties triumph it (Ross, 2002 Pg 5). Whenever there is a prima facie duty to perform a given task, there is always a strong presumption that is in favor of performing it. An excellent example of a prima facie duty is the obligation to keep secrets and promises. People ought to keep promises unless a stronger moral consideration arises. Concrete or actual duties are the duties that people undertake given a particular situation. This contrasts with the prima facie duties. Depending on the nature of the actual duties, one ought to perform it in a moral way. Prima facie duties have a close relationship with actual duties, in the same way that reasons have a close relationship with conclusions of reasoning. Prima facie duties According to Ross, prima facie duties recognize that people face a lot of daily choices where they have to act morally. In such cases, individuals weigh such moral choices using their intuitive judgment (Ross, 2002 Pg 10). Ross developed the theory because he was not satisfied with the utilitarian view that morality could be reduced on the basis of maximizing utility. He proposed six categories of prima facie duties that individuals can use in determining the right thing to do. Fidelity This involves a duty to safeguard ones contacts, secrets and promises and avoiding deception. In this case, if an individual keeps a promise, then he or she has a prima facie duty to honor the promise. Gratitude This duty involves showing appreciation at all times. The duty advocates that individuals should be grateful for all good deeds toward them. The duty continues to add that such individuals should show appreciation by doing good deeds to others. For instance, if a person holds the door for an individual carrying a heavy load, then the individual should be grateful for that. Non-injury This duty is also referred to as non maleficence. It indicates the duty to avoid causing harm to others. The harm can either be physical or psychological. The actions of any individual should not harm the health, security, happiness, character, wealth or intelligence among others. Justice This duty requires that individuals should act in a way that leads to a fair distribution of both benefits and burdens. According to Ross, this duty can have negative effects. The duty rests on the possibility of achieving a distribution of happiness or pleasure, which is not in the interest of the individual concerned. This gives rise to the duty to avoid such a distribution, which can be termed as unjust (Ross, 2002 Pg 21) Beneficence This involves the duty to do deeds that promote the well being of others. This involves fostering their health, wisdom, security, happiness or moral goodness. According to Ross, this duty arises from the fact that there are individuals in the world who can use help in improving their current condition (Ross, 2002 Pg 22). The person holding the door for the individual in need shows the duty of beneficence. Self-improvement This indicates the duty to act in a way that promotes ones well being. This pertains to ones security, wisdom, health, happiness and moral goodness. This duty calls for intelligence or virtue for it establish a strong connection (Ross, 2002 Pg 21) Evaluation of Prima Facie Duties The six duties as stipulated by Ross advocate for morality, but have proven to conflict with one another in some real life situations. For instance, an elderly woman collapses with a possible heart attack. A man who witnesses the situation realizes that the phone is a few blocks way. There is a childs bike lying nearby, but the child is out of sight. A section of the prima facie duties suggest that the man should take the bike and call for help. On the other hand, some duties advocate that taking the bike is not right. This indicates a situation where the duties in the theory are conflicting and confusing at the same time. In the real life situation above, the non injury and justice duties indicate that taking the bike will be unjust and will cause injury to the owner. On the other hand, the duty of beneficence and harm prevention will advocate that taking the bike would be morally right. The solution in such a case would lie in the prioritization of the duties. In this case, harm prevention and beneficence would have the first priority over the duties concerning justice and non injury (Pojman, 2011 Pg 139). The actual duty would be to take the bike and get help. In such a case, there would be a temporary loss of the bike for the bike owner, but this would prevent the death of the sick woman. The theory presents duties that should guide moral doings in daily situations. However, it is evident that the prima facie duties are not sufficient to determine the choices that people should make. The efficiency of the theory lies in the priority of the different duties. Some duties are have more priority in given cases than others. For example, in our case above, the beneficence and harm prevention duties would come before the non injury and justice duties. This calls for priority rules to guide the duties in case they conflict. For instance, holding all other things equal, it would be crucial to avoid causing harm or injury that to do a positive deed (Timmons, 2002 Pg 193). The priority rule indicates that the non injury duties override all other duties. Moreover, fidelity comes before beneficence. For example, keeping a promise or secret comes before any acts of kindness. Beneficence, skill and moral character override any other conflicting prima facie duty that involves ones pleasure or short term pain. However, the most significant thing is to recognize that the theory cannot exist with exceptions. The duties therein and the priority rules are subject to exceptions. Moral intuition Moral intuition serves a significant purpose in the advancement of this theory. It has three major functions. First, moral intuition reveals when a prima facie rule does not apply despite signs that the duty was applicable in the beginning. In simple terms, it enlightens individuals if they have any exceptions. This kind of moral intuition depends on the morally significant aspects present in the situation, and the location of the chooser. Secondly, moral intuition explains the prima facie duties in detail. This way, a chooser will make the best decision based on moral intuition. Thirdly, moral intuitions clarify the propriety rules present in a situation. It allows the chooser to choose non injury over beneficence (Audi, 2009 Pg 67). Moral intuition can vary from one individual to the other. The source of moral intuition is one that has received varying responses from scholars (Tropman, 2006 Pg 130). The ability to have upright moral perceptions depends on ones moral upbringing and the resulting moral habits. Moral perception may be distorted or corrupted depending on the upbringing and moral environment. Conclusion The theory and its applications have worked remarkably in many situations involving moral problems. The theory specifies how individuals should tackle situations so as to make moral decisions (Waluchow, 2003 pg 78). However, the theory has led to conflicting sides in given situations such as an abortion. Some duties are in favor of the fetus while some are in favor of the mother. Such situations have revealed the loop holes in the theory. However, with effective moral intuition, the theory can help individuals make moral choices depending on their situation. Moral intuition interprets the prima facie duties for any individual in relation to a given situation. It also guides the chooser on the duties to give precedence over others. Therefore, the effectiveness of the prima facie duties depends on the ones moral intuition.