From Africa to Slavery in America - 887 Words

African slavery provided cheap labor for the proprietors, however most of the slaves suffered terrible conditions from the moment they were captured until their life ended. They lived and worked in horrible conditions. Many families’ lives were destroyed when they came to the Americas, and they had an enormous lack of rights and freedoms, such as a simple education. A large number of slaves that were brought to the Americas were captured when the villages were raided. Adults during the raids were captured by being bound and gagged and they would sometimes put infants into sacks. The overwhelming majority of slaves sold to Europeans had not been slaves in Africa. They were free people who were captured in war, were victims of banditry or were enslaved as punishment for certain crimes. (Digital History). After slaves were kidnapped they were put onto ships and taken to the Americas. The conditions of the slave ships were wretched. People were crammed side by side with not much room or food (Aboard a Slave Ship, 1829). There were two ways slaves were loaded onto the ships. One way was to take a lighter load of people, so more people who would survive by the time they got to the Americas, and there would be less disease on the ship. The second way was cram as many people you could, with the tactic that the more people they had, the more profit. This way was very unsanitary and all of the slaves on the ship had horrible hygiene because of it. Some captains would not even provideShow MoreRelatedAn Analysis of Olaudah Equianos The Middle Passage1019 Words   |  4 Pagespractice of race-based slavery in the Americas is the fact that slavery existed in Africa during that time period and that Africans were complicit in the Trans-Atlantic slave trade. What is fascinating about Olaudah Equianos discussion of the Middle Passage is that, as a man who had been enslaved in Africa prior to being shipped as a slave to the Americas, he was in a unique position to describe slavery in Africa with his introduction to European-influenced slavery in North America. His perception wasRead MoreSlave Trade673 Words   |  3 PagesSlave Trade Many times discussions about slavery examine the everlasting racial impact of the practice. However, the reality is that Africans sold Africans into the slave trade, which, at that time, was far more motivated by finances than by any underlying racial motivation. Looking at the Great Circuit, and how African traders and political leaders impacted the slave trade, one sees Africans playing a significant role in the early slave trade. However, there were differences in how the slaveRead MoreThe Interesting Narrative Of The Life Of Olaudah Equiano877 Words   |  4 Pageshis life. Equiano was from a small province of Africa called Eboe where they were well mannered and traditional. He grew up in a wealthy and established family with his mother, father, and siblings. During the course of Equiano’s life he had some good and challenging time, but through it all he endured it to the end. Throughout his life Equiano experienced what he feels like to be free and to be a slave. In the memoir forced, cruel, and child labor was depicted. Slaves in Africa were treated exceptionallyRead MoreThe Impact of Slavery on African Society Essay1149 Words   |  5 PagesThe Impact of Slavery on African Society Slavery has played a strong role in African society from as early as prehistoric times, continuing to the modern era. Early slavery within Africa was a common practice in many societies, and was very central to the country’s economy. Beginning around the 7th century, two groups of non-African slave traders significantly altered the traditional African forms of slavery that had been practiced in the past. Native Africans were now being forced to leave theRead MoreThe Slavery Of African Slavery1128 Words   |  5 PagesSlavery is one of the most inhumane acts the world has ever known. Africans were kidnapped and forced into slavery by Europeans; they were separated from their families and forced to work on plantations. They were placed in unbearable conditions and the prevalent racism attached onto this system fueled the mistreatment and oppression of black people for years to come. The origins of the widespread African slavery in America as we know today started in early colon ial America when people needed cheapRead MoreThe Three Cs ( Christianity, Commerce And Civilization1172 Words   |  5 Pagesearly repatriation movement of African descendants from the Americas that they were looking for the â€Å"Black Nationality† by establishing an American colony in Africa. DuBois’ notion of double consciousness shed light on their dilemma in relation to Africa and Africans. The notion presents how the African Americans are perceived by the white Americans in the American society where the majority are whites. The difficulties experienced by returnees from the West regarding reintegration into African societiesRead MoreThe Narrative Of The Life Of Olandah Equiano1716 Words   |  7 Pagesprovides a view of Africa and the rest of the world from the perspective of either an African taken into slavery early in his life or a slave of African descent born in the British colonies. Olandah Equiano’s narrative reveals more about the African Diaspo ra than it does African history itself, particularly with his birthplace called into question. If he was born in Africa as he claims, Equiano’s narrative provides a primary source for the history of the slave trade in Africa and Nigerian historyRead MoreTransatlantic Slave Trade and the Effects on the American Economy1627 Words   |  7 Pageson the american economy Transatlantic Slave Trade The Transatlantic slave trade is a â€Å"wrenching aspect of the history of Africa and America† (Colin Palmer). The transatlantic slave trade transported African people to the â€Å"New World†. It lasted from the 16th to the 19th century. Slavery has had a big impact on African culture. The Africans were forced to migrate away from everything they knew, culture, heritage and lifestyles (Captive Passage). Coupled with they were faced with racism and overcameRead MoreThe Importance Of Slave Trade In Africa751 Words   |  4 Pages European nations shifted their interest from Africa’s gold to work due to many reasons; First they in need of cheap and large labor to match their products in their market. The African slaves were cheaper as compared to other continents and thus could be acquired in large numbers. In addition, African slaves were energetic and very resistance to infections and diseases. Besides this slave trade was being practiced in Africa and thus it was easy for the European nations to introduce the chattel slaveRead MoreThe Impact Of The Atlantic Slave Trade Influence Europe Economic Growth And Market Development Essay786 Words   |  4 Pagesand define slavery as a principal component for global capitalism until it was not longer profitable. The atlantic slave trade influence europe economic growth and market development to rapidly spread through the atlantic trade. It was a intense dependence on the triangular trade that made merchants made big profits at the expense of the exploited labour abroad. Merchants were involved in all three sides of the triangle trade that allowed the transportation of slaves from Europe to Africa where goods

Social Organized Crime Perspective - 886 Words

Social Organized Crime Perspective May 21, 2012 CJA 384 Social Organized Crime Perspective Organized crime is found in the United States of America today and the law enforcement agencies are trying to find a way to curb its existence. Even though there are illegal businesses associated with organized crime, they are mixed in with legal businesses to portray a legal front. It also can be called a social institution because it is led by a boss and follows a chain of command much like a pyramid. Empirical and speculative theories have been developed through the years in order for the law enforcement agencies to better understand organized crime and how to deal with it. This paper will examine a social institution as it applies to†¦show more content†¦Lyman and Potter (2007) stated, The legitimate markets failure to serve sizable consumer populations is responsible for the existence of most vice operations. As a consequence, organized crime capitalizes on market voids and profits from services to these consumers.† Organized crime preys on the moral issues and l aws preventing citizens from enjoying that which they desire to have. Therefore, there is a marketable opportunity for businesses, such as prostitution, drugs, and gambling. These illegal businesses may be taking place next door, or in back of, a legitimate business so they appear to be legitimate also. Many times law enforcement officers may know they are there but look the other way. The boss has developed a relationship with someone in government that will order protection and cover for these illegal businesses. Empirical and Speculative Theories The empirical and speculative theories most applicable when applied to organized crime and criminal behavior are the queer ladder of mobility, the ethnic succession theory, the alien conspiracy theory, and the social control theory. The queer ladder of mobility believes that organized crime is just a means to an end. The greed and desire for power leads people to a life of crime to obtain the wealth and status within the community. The ethnic succession theory believes that organized crime developed around ethnic groups who immigrated to America to find the American dream. They would live togetherShow MoreRelatedEssay on Social Organized Crime Perspective1155 Words   |  5 PagesSocial Organized Crime Perspective In some communities organized crime is as much of a social institution as other legitimate functions. Often, the impact of organized crime can be hidden and not readily apparent to community members. In other cases the community may come to accept the organized criminal group for the benefits they provide. Understanding how organized crime meshes into the social fabric of a community is important to understanding how to fight against it. Just as important toRead MoreSocial Organized Crime Perspective Paper815 Words   |  4 PagesSocial Organized Crime Perspective Paper Many could argue that organized crime takes place in our society because of the circumstances in which our society has chosen to exist. It could have been started because of rules, regulations, and laws that we have placed upon ourselves that not every person agrees with. It could be a problem because several of the people within our society choose to live differently because they feel they can. Whatever the logic behind the choice organized crime does existRead MoreEssay on Social Organized Crime Perspective729 Words   |  3 PagesSocial Organized Crime Prespective Nelson Mieles University of Phoenix Criminal Organizations CJA 393 James K. Roberts, M.A. January 11, 2011 Social Institution A social institution is a group that someone lives and grows up in. These institutions or groups have a goal or task to complete. For example, a school is an educational social institution in which either children or adults go to learn a way of life. Social institutions are based on structures of relationships, functions, rolesRead MoreSocial Disorganization Theory And Crime998 Words   |  4 PagesStarz’ â€Å"Power , Social Disorganization Theory and Crime Introduction: In the television show â€Å"Power†, organized crime is the most prevalent form of crime displayed. Organized crime can be defined as a methodically unlawful activity for profit on a city-wide. interstate and worldwide scale. The act of engaging in criminal activity as a structured assembly is called racketeering in the United States. The premise of this project is to research social disorganization theory as it pertains to the televisionRead MoreMajor Types Of Social Structure Theories783 Words   |  4 Pagescompare and contrast the three major types of social structure theories, and the three major types of social structure theories are social disorganization theory, strain theory, and culture conflict theory. Also, I will, include the major principles for each perspective. In this I will define social structure , and I will detail key points in each of these subjects. Introduction Social order,and economics in society explains crime by reference to the Social Structure theory. This type of theory makesRead MoreDefining Deviance1080 Words   |  5 Pagesï » ¿Defining Deviance Deviance- doing something different from the normal Sociological Perspectives on Deviance   Formal Deviance- breaking a law or rule example: crime   Informal Deviance- doing something different from the customary Social groups create deviance by applying rules to certain people, making them â€Å"outsiders† Behavior that is deviant or normal depending on the situation Deviance stabilizes society Durkheim thinks that societies use deviance to create and point out the standard norms TheRead MoreSocial Institutions and Organized Crime Essay914 Words   |  4 PagesSocial Institutions and Organized Crime Paul Blakey University of Phoenix CJA 384 30 January 2013 Social Institutions and Organized Crime Social Institutions are groups of people who have come together for a common purpose. These institutions have formed a common bond. They have done research and have concluded by joining they can achieve more. Some of the social institutions in the local community are the Boys and Girls Clubs, the Cub Scouts, the Girl Scouts. There are generally fiveRead MoreOrganized Crime And Criminal Behavior904 Words   |  4 Pagescourse I had a perspective of â€Å"organized crime† groups that did not view them in any other context other than a criminal enterprise for ethnic groups. However, after several weeks of reading and research there is much more to the organizations. There are many groups that make up our society, and are considered social institutions. Organized crime groups are just one more of those social institutions. In this paper we will review the term social institution as it applies to organized crime, and revealRead More Profile of a Hate Crime Offender Essay1614 Words   |  7 PagesProfile of a Hate Crime Offender Sterilized from emotion, hate crime, also called bias crime, is those offenses motivated in part or singularly by personal prejudice against other because of a diversity-race, sexual orientation, religion, ethnicity/national origin, or disability. Hate crimes are committed out of anger, ignorance, and lack of knowledge of another’s ideas and beliefs. There are many causes for an individual to commit a hate crime. Also, many differentRead MoreThe Memorable Periold of the 1920s in The Great Gatsby by F. Scott Fitzgerald1168 Words   |  5 Pagesextravagant parties, organized crime, and gambling were all major social issues throughout the â€Å"Roaring Twenties.† Fitzgerald struggled with alcoholism (Baughman, et al.), which was more than likely a result of the constant availability of alcohol. Alcoholism led to Prohibition being passed, but Prohibition was a failure, and, in the end, led to an increase in organized crime and bootlegging. In Fitzgerald’s novel, Jay Gatsby and Meyer Wolfsheim were partners in organized crime. Fitzgerald conveys

Wal Mart Case Free Essays

string(45) " usually beyond the corporations’ control\." http://www. economist. com/node/2593089 http://www. We will write a custom essay sample on Wal Mart Case or any similar topic only for you Order Now authorstream. com/Presentation/akmohideen-193472-wal-mart-case-study-education-ppt-powerpoint/ How Could Wal Mart Continue Its Extraordinary Growth Management Essay Introduction The history of Wal-Mart started in 1962 with the opening of its first store in Arkansas, USA. The store stared as a retailer in the United States, but grew to reach extraordinary levels in the years to come. Wal-Mart grew rapidly, and used several methods to accomplish this growth. They opened their own stores as well as acquiring existing stores and chains to facilitate their entry to the new markets. The growth was not limited to the number of stores that the company opened, but it extended to the areas of operation for the store. For example, Wal-Mart entered new areas of business as it grew like pharmacies and jewelries. Wal-Mart followed an aggressive expansion strategy that was the model for their business for years, redefining concepts as they grew. But what is Wal-Mart. The store can be described as the following. It is chain of discount department stores that operate with the purpose of reducing prices, and focusing on the volume of sales. The company’s growth is extraordinary in every sense; Wal-Mart is currently the world’s largest company by sales. Wal-Mart has recorded $260 billion in sales in 2005. The company manages over 5000 stores worldwide, 3200 of the stores located in the US, 900 in the Americas, 350 in Europe, and 440 in Asia. Wal-Mart employs a very large workforce, it has over 2 million employees, and the number is gradually increasing. Wal-Mart has adopted advance mean of technology to help it run its operations, this methods helped the growth of the company. But can Wal-Mart continue with the same level of growth. A company needs to maintain growth, and to Wal-Mart a reduction in the level of growth would be a cause of concern for the company’s stakeholders, because growth has a competitive advantage for Wal-Mart ever since it started. But in the saturated business of retail can Wal-Mart sustain the levels of growth anymore. SWOT Analysis Can Wal-Mart maintain the level of growth it has seen any longer? The company has made a reputation on the bases of their growth can they keep it up, to answer that we need to conduct an analysis of the company and see elements that could determine this. A SWOT analysis would give us the needed insight. Strengths Wal-Mart is the largest company in the world; it has large volume of sales and operates over 500 stores worldwide, with 100 million clients a week. Wal-Mart has a great standing in the domestic market based on the low pricing methods they have used. Wal-Mart can change their formula to fit the market. (stores, supercenters, sam’s club, and neighborhood markets) Wal-Mart utilizes the latest technologies in inventory management to control their large inventory, and they have a wide range of products reaching over 100,000 items. Weaknesses Wal-Mart has faced criticism regarding their management of human resources, including accusation of the use of child labor, low pay for employees by industry standards, lack of benefit like health care, and reliance on temporary workers to lower their cost. The huge size of the company causes issues, like in the case of acquiring international ventures and integrating then in the Wal-Mart system. Despite its size it has a week presence and brand image in the international market. Opportunities Wal-Mart has a competitive advantage over its rivals; their incorporation of the latest technologies in their daily operation increases the efficiency of these operations and saves them some money while trying to enter new markets. So they would have an easier time that their rivals. Wal-Mart can further expand into Europe and Asia, both huge markets that Wal-Mart have not began to fully pursue. Wal-Mart can use their adaptability and introduce cultural clusters products. For example utilize the model that worked in Mexico in Latin America. Threats The market is saturated, and Wal-Mart faces intense competition in both domestic and international market. Also they face competition from specialty stores. Wal-Mart faces different laws by different countries that force it to change it methods. For example being forced to unionize the workers in china under pressure from the government. Summary Wal-Mart faces several challenges in order to sustain the levels of growth it has experienced. But it is possible Wal-Mart to grow further. The company has to use the opportunities that are present to it. They can pursue international markets more aggressively, expand in under developed markets, and continue to incorporate technology to increase efficiency and reduce costs and delays. Wal-Mart could also begin appealing to the niche markets by introducing and focusing on some special products. Question 2- What would be the limits of that growth? Introduction Growth is an essential an essential aspect of every successful corporation, and Wal-Mart in particular has made it their trademark. The rapid growth and expansion has been a competitive edge for Wal-Mart since the beginning of its operation. However, as previously mentioned, for how long can the company maintain this level of growth? Wal-Mart’s domestic market in the United States is already saturated and they face heavy competition as well, therefore, it is logical to assume that Wal-Mart’s options lies in its international ventures. The company has started to successfully dominate several foreign markets, especially in Mexico, Canada, and to some degree, the United Kingdom, at the same time, it remains absent from other regional markets in Europe and Asia. These unused markets would be the next step for Wal-Marts’ expansion, and their ability to cultivate those opportunities would be the key factor that would determine the limit of their growth. When a company ventures into international markets and unfamiliar cultures, they could face challenges that exist in adapting and changing to fit the culture. In addition, there are always external forces that would affect the growth potential of a corporation, and these factors are usually beyond the corporations’ control. You read "Wal Mart Case" in category "Papers" So in order to determine the limit of Wal-Marts growth, we have to first analyze the external environments that would affect it, the analysis is named the PESTLE analysis of external forces. PESTLE Analysis The PESTLE analysis is a tool, used to examine the external forces that could affect a company or a corporation. This analysis tool would focus on six aspects which are the political forces, the economical factors, social elements, technological innovations, legal issues, and environmental considerations. Political Forces The political orders and systems differ from one country to another; they vary depending on the region you target. A company would be under the mercy of the political forces in each country it tries to enter; this will be a huge burden on companies and especially Wal-Mart. Since Wal-Mart prefers standardization methods, it would be a deviation from their successful methods of operation if they have to cater and change in every country they enter. To further elaborate, if Wal-Mart had to change in every country they entered, they would have to create different processes for every time they penetrate a new market, including, administration, training, and management. When it comes to growth, those factors could very well limit the growth of Wal-Mart in a new market or make it too expensive to be economically feasible. Economic Factors The economic cycle would obviously have a great effect on all aspects of any corporation. The economic booms encourage companies to expand, while the economic downturns force them to retreat. The effects of an economical downturn would limit or end the growth of a corporation, when a company plans to venture into new markets; they would have to take into consideration the type of economy they enter or the forecasted performance of said economy. Wal-Mart could expand into a market and be faced with an unexpected situation that would force it to cease operation, thus incurring a loss. Wal-Mart is in a constant state of expansion, so, suffering a loss in any of its fronts would reduce the profitability of the company and would damage future international expansion plans. Social Elements Societies differ from one country to another, the differences could be unimportant to a multinational corporation like Wal-Mart, or they could be severe enough that Wal-Marts would not be able to operate in that market. For example, Wal-Marts retail chain depends on low prices with low profit margins, but large volume of sales. That method could very well not work in other countries in which the society has different purchasing habits. The inability of a company to adapt to the social characteristics of a new country would severely limit their clients’ base in that country, or it could end their operations completely. Technological Innovations Wal-Mart has always utilized state of the art technology to gain a competitive edge, they have an integrated system of inventories that controls and monitors replenishing the stock in every store, this aspect dramatically increases the companys’ efficiency. Furthermore, the company is always looking for new technological ways to cut costs and increase efficiency. In the case of expansion into foreign markets, this vital aspect of Wal-Marts operation would be threatened. If a certain country does not have the infrastructure to support this kind of technology, Wal-Mart would lose that competitive edge in that market. As a result, the Wal-Mart model would not be fully usable in that market, which would decrease profitability and eventually limit the organizations growth. Legal Issues Laws that are different from one country to another could very well limit the growth of a company, by restricting certain aspects and eliminating others; they disturb the work flow of a company. These limitations forced by foreign laws are a major concern for an international company. Environmental Considerations The environment and the quest to maintain it has a great effect on major international corporations. Wal-Mart in specific, have had their run-ins with this certain issue, they have faced criticism and limitations in several countries due to a wide range of basis. Issues such as building stores on historic sites, or selling products that used wood from protected forests are issues that have more than once halted the expansion of Wal-Mart. Summary As seen, the company has no choice but to seek new markets to keep expanding, the growth rate could not be sustained in the US retail market. The limit of the Wal-Marts growth would be their abilities in penetrating international markets, and how they deal with the barriers that those external forces push them into. Ultimately, it would come down to flexibility and willingness to change from the companies’ part. On the other hand, Wal-Mart can recreate its amazing growth performance in its domestic market by fully analyzing all the possible external forces that could have a hand in limiting their growth and formulating the strategic plans that would allow them to carry the essence of their successful model into new markets, even if it was in a new form. Question 3- Did Asia and Europe offer Wal-Mart real opportunities for international market dominance? Introduction One of the major aims of any company is growth; they seek to expand their market share or client base or any of the several elements. Eventually, the growth is their goal, due to that fact that when a company stops growing it gives the image of trouble to its stakeholders. Companies will at some point have to consider exploring new markets, these markets would most likely be outside the companys home country. Expansion into a foreign market offers many advantages to companies and is very appealing to most of them, however, it is important that all corporations carefully analyze the environments that they are about to enter. In these foreign markets, there could be forces that if ignored could cost a company greatly. Wal-Mart is not new to international expansion and they already operate in several countries. Despite that fact, Wal-Marts performance in some international markets did not match their extraordinary domestic growth. To better understand those reasons, we have to analyze the environments that Wal-Mart ventured into, as well as the forces they faced. Porters Five Forces The Porter Five Forces is a tool used to analyze the competitive environment in any industry in order to determine the level of threats that the company faces. Porter categorized the threats into five headings. Threat of new entry Wal-Mart is in the retail business and more specifically the discount retail industry, the threat of new entry is low to medium. Wal-Mart is a well established company that has mastered the processes and has set up highly efficient operations, especially their distribution networks. Threats on this level is low due to the barriers that a new competitor would face in order to compete against Wal-Mart. This point is at its strongest in Wal-Marts domestic market, the situation is different when Wal-Mart ventured abroad where Wal-Marts lesser presence acts against it, but even then, Wal-Mart could enter the market and use its pricing methods to successfully obtain a share in the new market. Threat of Rivalry This threat is medium to high; Wal-Mart has a lot of competitors in both domestic and international markets and as a result of Wal-Marts nature, it has a large number of competitors. Wal-Mart faces intense competition from organizations such as Target and Best Buy, each of those companies are a threat to Wal-Marts dominance in the market. In the international field, Wal-Mart faces competition from well established multinational corporations like Carrefour, the level of competition that Wal-Mart faces abroad is significantly higher due to their weaker presence in those markets. The bargaining power of customers The bargaining power of customers is how much of an effect can the reaction and interaction of customers have on the strategies that companies use. This force is medium, while it is true that customers would have a wide range of choices and options to choose from other than Wal-Mart, the company possesses the characteristics that attracted people to it in the first place, that aspect being convenience. A single individual/customer would have no bargaining power if he/she sought the convenience of having everything in one place; however, customers that have specific needs would simply go to another store for their purchases. The bargaining power suppliers Wal-Mart sells general items in addition to some of its own product lines; they are a dominant force in the domestic US market, which means that suppliers have very little bargaining power over them. As a dominating force, Wal-Mart can move from one supplier to the other very easily, and with the massive variety they have, they can afford to remove some products. Larger companies that deal with Wal-Mart have somewhat more bargaining power, but in general, Wal-Mart is safe from this threat. Threat of substitutes This threat could be viewed from two different perspectives, if you consider that Wal-Mart has been selling general products, then it is easily changeable, however, if we look at it and view that the convenience of having everything in one place combined with low prices is Wal-Marts main product, then this threat is very low. There are very few places that could even offer a similar level of convenience. Summary Wal-Mart has different situations in Europe and Asia. In Europe, Wal-Marts methods were successful in the UK, but less so in other parts of the continent. They faced stiff competition and the unfamiliarity of some of those markets played a role in limiting their dominance. In Asia, their situation is rather different; many of the Asian countries are ones that have developing economies. Wal-Marts low price strategy and their ability to function with low profit margins will enable them to establish themselves in those markets. Question 4- How could the company take advantage of its global reach to propel itself through the years to come? Introduction Few companies can successfully expand to the extent that Wal-Mart has; the companys growth has been extraordinary to say the least, however, taking into consideration the companys size, Wal-Mart has a weak international presence. It is true that Wal-Mart has hundreds of stores operating outside its domestic market, which gives it a certain level of international reach. By strengthening their presence in foreign markets, they are lowering their risks and also increasing their profitability. When a company operates in many different markets, the risk of an economic downturn is less severe since the company would not depend on only one market for its profitability. Moreover, foreign markets are opportunities for growth and untapped potential. Wal-Mart could use their presence in foreign markets to grow and penetrate other close by regions. By going international, the company guarantees their presence in several markets. Companies need a strategic plan for the future, without it they have no hope of maintaining any success they might have had. Strategic Planning Strategic planning is a process in which every company plans what to do for the future; the process requires that the company have clear goals and understanding of themselves. Wal-Mart is a company that has been well aware of this process, the organization has built its name by focusing on providing items at low prices, in technical terms, and they are following the generic strategy of cost leadership. Wal-Mart aimed to be the competitor that attracts clients on the basis of low cost, despite having a wide range of products, Wal-Mart appeals to its clients’ base with their low prices. After going international, Wal-Mart attempted to immolate the formula that led to its success. However, they were faced with difficulties stemming from the cultural and social differences between its domestic market and the foreign market. Wal-Mart partially overcame that obstacle by abandoning the strategy of standardization, and adapting a flexible mean of market penetration, they have on several occasions changed their store formula to fit the local image. Wal-Marts success overseas could almost entirely be attributed to its ability to formulate their stores around local concepts by partnering up or buying out well established local chains, thus, not forcing a clash with the American image of Wal-Mart. Summary Wal-Mart has a dominating presence in their domestic market and a strong presence in several other countries. The company can use that global reach to sustain its growth for many more years to come by using the strategies that made it succeed in the first place and applying them to those new markets. This feature backed up by the companys ability to adapt to differences from one country to another would help make the penetration of the new markets run smoothly. Moreover, the global reach would allow it to make use of the ideas and resources of their partners in those markets, the ideas could benefit Wal-Mart in the fact that they could transfer it to other markets without the need of creating entirely new models. Read more:Â  http://www. ukessays. com/essays/management/how-could-wal-mart-continue-its-extraordinary-growth-management-essay. php#ixzz2NFqxWBIn How to cite Wal Mart Case, Papers

Financial Management Production and Material Budget

Question: Describe about the Financial Management for Production and Material Budget. Answer: Introduction In this given project I have to check the budget of VGL Ltd, which is the Distributor Company, as well as Milbourn Manufacturer which happens to be the manufacturer of the new and exciting product. For Milbourn Manufacturer we have to create different budgets also such as Material, Production and Labour Budget. While for VGL Ltd, we have make only the cash budget for the month of January, February, March, April. For the Milbourn Manufacturer we have to prepare the budget for the month of December, January, February and March. Milbourn and VGL Ltd are expecting the sales to start from 220000 units and gradually falling up to 100000 units in the month of May. VGL Ltd is expecting the sale price to $ 510 in the first two month and then gradually decreasing. Cash Budget Cash Budget for VGL Ltd. (Amount in $) Particulars January February March April Beginning Cash 1900000 (12410000) 49690000 109612500 Add: Sources Of Cash - Accounts Receivable Collected 22440000 89250000 81472500 60084045 Total Cash Available (A) 24340000 76840000 131162500 169696545 Less: Uses Of Cash - Direct Material From Milbourn 35200000 25600000 20000000 19200000 (160 * 120000) - Cash Expense 1550000 1550000 1550000 1550000 Total Usage Of Cash (B) 36750000 27150000 21550000 20750000 Net Cash Position (A-B) (12410000) 49690000 109612500 148946545 (Budgeting Topics, 2016) Sale Price per unit of VGL Ltd. (Amount in $) Particulars January February March April Sale Price Per unit 510 510 464.10 422.33 % Fall in Price - - 9% 9% Calculations - - 510 (510 * 9%) 464.10 (464.10 * 9%) Calculation of Total Sales of VGL Ltd. (Amount in $) Particulars January February March April Sale price per unit (a) 510 510 464.10 422.33 Units sold (b) 220000 160000 125000 120000 Total Sales (a * b) 112200000 81600000 58012500 50679600 Total Sales amount received per month of VGL Ltd. (Amount in $) Particulars January February March April Total Sales for the month: Total Sales 112200000 81600000 58012500 50679600 Payment Received from the Debtors - January 22440000 (112200000 * 20%) - - - 22440000 - February 72930000 16320000 - - 89250000 - March 16830000 53040000 11602500 - 81472500 - April - 12240000 37708125 10135920 60084045 - May - - 8701875 32941740 41643615 - June - - - 7601940 7601940 Debtors will pay in the following way: Current Month 20% 30 Days 65% 60 days 15% Manufacturing Budget Production Budget for Milbourn Manufacturing Ltd. Particulars December January February March Units forecasted to be sold 220000 160000 125000 120000 Add: Closing inventory of units - - - - Less: Opening Inventory - - - - Units to be produced 220000 160000 125000 120000 (Budgeting Topics, 2016) Material Budget for Milbourn Manufacturing Ltd. (Material A) Particulars December January February March Unit to be Produced 220000 160000 125000 120000 Material A required per unit 3 (220000*3) 3 (160000*3) 3 (125000*3) 3 (120000*3) Total Material A needed 660000 480000 375000 360000 Add: Closing Inventory - - - - Total Material A Required 660000 480000 375000 360000 Less: Opening Inventory - - - - Material A Purchased (a) 660000 480000 375000 360000 Material A cost per Kgs (b) $ 3.50 $ 3.50 $ 3.50 $ 3.50 Total Cost (a * b) ($) 2310000 1680000 1312500 1260000 Material Budget for Milbourn Manufacturing Ltd. (Material B) Particulars December January February March Unit to be Produced 220000 160000 125000 120000 Material B required per unit 6 6 6 6 Total Material B needed 1320000 (220000*6) 960000 (160000*6) 750000 (125000*6) 720000 (120000*6) Add: Closing Inventory - - - - Total Material B Required 1320000 960000 750000 720000 Less: Opening Inventory - - - - Material B Purchased (a) 1320000 960000 750000 720000 Material B cost per Kgs (b) $ 4.50 $ 4.50 $ 4.50 $ 4.50 Total Cost (a*b) 5940000 4320000 3375000 3240000 Material Budget for Milbourn Manufacturing Ltd. (Material C) Particulars December January February March Unit to be Produced 220000 160000 125000 120000 Material C required per unit 2 2 2 2 Total Material C needed 440000 (220000*2) 320000 (160000*2) 250000 (125000*2) 240000 (120000*2) Add: Closing Inventory - - - - Total Material C Required 440000 320000 250000 240000 Less: Opening Inventory - - - - Material C Purchased(a) 440000 320000 250000 240000 Material C cost per Kgs (b) $ 10.00 $ 10.00 $ 10.00 $ 10.00 Total Cost (a*b) 4400000 3200000 2500000 2400000 Particulars December January February March Material A Cost 2310000 1680000 1312500 1260000 Material B Cost 5940000 4320000 3375000 3240000 Material C Cost 4400000 3200000 2500000 2400000 Total Cost 12650000 9200000 7187500 6900000 (Budgeting Topics, 2016) Labour Budget for Milbourn Manufacturing Ltd. Particulars December January February March Unit to be Produced 220000 160000 125000 120000 Labour Hours per unit 0.50 0.50 0.50 0.50 Total Labour Hours Required (a) 110000 (220000*0.5) 80000 (160000*0.5) 62500 (125000*0.5) 60000 (120000*0.5) Machine Operating Cost per hour (b) 36.00 36.00 36.00 36.00 Total Labour Cost (a*b) 3960000 2880000 2250000 2160000 (Budgeting Topics, 2016) Cash Budget for Milbourn Manufacturing Ltd. (Amount in $) Particulars December January February March Beginning Cash 1550 (4890950) 17204050 30442475 Add: Sources Of Cash (A) - Cash Sales - - - - - Accounts Receivable Collected - 35200000 25600000 20000000 - Asset Sales - - - - Total Cash Available 1550 30309050 42804050 50442475 Less: Uses Of Cash (B) - Direct Material 632500 9925000 9811575 7545625 - Direct Labour 3960000 2880000 2250000 2160000 - Manufacturing Overhead 300000 300000 300000 300000 - Selling Administrative - - - - - Asset Purchase - - - - Total Usage Of Cash 4892500 13105000 12361575 10005625 Net Cash Position (A-B) 4890950 17204050 30442475 40436850 (Budgeting Topics, 2016) Calculations of Payment made to the creditors (Amount in $) Particulars December January February March Total Cost for the month: Total Cost 12650000 9200000 7187500 6900000 Payment Made to the Creditors - December 632500 (12650000 * 5%) 632500 - January 9465000 460000 9925000 - February 2552500 6900000 359375 9811575 - March 1840000 5390625 345000 7545625 - April 1437500 5175000 6612500 - May 1380000 1380000 Creditors will be paid in the following way: Current Month 5% 30 Days 75% 60 days 20% Behavioural Aspect Behavioural Problems faced by the company when they use budget as the performance target are as follows: Dysfunctional Behaviour: Budgets are very important for organisations, as it provides a direction to them and also help them to achieve their goal by providing the same objective. People who are associated with the making and use of budget feels motivated and are eager to achieve their goal. But sometimes due to inappropriate carrying out of the budget and expectation of more than normal by the managers lead to a negative impact between the employees. Such a behaviour is known as dysfunctional behaviour, where the goal and objective of the organisation is not in line with the goal and objectives of the individual. Excessive Pressure due to Budget: budget are used to command and organise the company. Too much pressure on the managers and other subordinates to achieve the goal of the budget creates a very bad environment, their motivation is longer high which puts the higher authority in an annoying mood as the subordinates are not showing and doing their work with enthusiasm. It also happens that when the budget is not that hard to achieve, the subordinates lose their interest in achieving it. Their participation level turns out to be very low. So either way, a budget needs to be planned carefully or should be set accordingly as the objective of the organisation to prevent such problems. (Agarwal, Rohit, 2016) Participative budget is the budget where people of all level who are impacted by the budget participates for the preparation of that budget. It is more of a bottom up approach. Advantage of Participative Budget Participation of the employees and subordinates makes them feel motivated and more eager to achieve the budget A Participative Budget make the environment a bit in a gaming spirit, it bridges the gap between higher and lower authority by making them contact on a regular basis, It makes the subordinate increase their team spirit, execution and initiative. It brings out the creative side of the employees as they take it upon themselves to achieve their budget and solve any problem they are facing related to their execution. It makes them responsible too. Since the managers and other level of people have the same goal as that of the organisation, it helps the organisation to achieve the goal more easily and in faster pace, with higher degree of goal congruence. Disadvantage: When all level of people are involved in the preparation of the budget, it creates too much havoc, as too much people are participated in the discussion of the budget, sometimes the difference in opinion among the people makes it impossible to form a budget. (Question Answers, 2010) Cash Management Strategies to overcome temporary shortage of cash: Sell unwanted assets: In an organisation there some assets which is of no need to the organisation, it creates unwanted cost also in the name of insurance, overhead and maintenance. These costs will lead to loss of cash. IF the asset is sold, then it will not only remove unwanted cost, but will also bring in cash which are in need by the organisation. Sell of Investment: Organisation invest not only on asset thought which they can manufacture or provide services, they also invest in investments. Once they invest in them, they dont keep a track on it much, if during such shortage of cash, they can calculate the worth of investment and sell them off to gain more cash. Call on your outstanding money: An organisation have debtors who have not yet paid the money, or other people from where the organisation is supposed to receive money. They can call them in to repay their money, so that they can overcome a situation of cash shortage. Sold Old stock: Many a times. Organisation keep old stocks thinking that they might need them in future, but they only increase their storage cost and money. To increase their shortage in cash they can sold these stocks in market and increase their cash. 5.2 Cash Shortage Effects: If there is a cash shortage in business it will tie up the hands of the company, which will make it impossible for them to overcome any situation. Proper investment to make the best product for customer will not take place as there will shortage of cash. Such Cash Shortage will create aggression in the debenture holder, as they will not be paid there interest, they might out of such aggression ask for full redemption. Any payment to be made to the Creditors who is asking to make good of his credit, will create a bad relationship between the company and the creditors. Such Problems will not only create a bad reputation of the company, but will also make the lender or creditors against them, which will hamper the business badly. Consequences of carrying too much cash: There are many consequences on having excess cash these are: Decrease in Cost of Capital: It can be well explained with an example, Suppose a business has a total asset of $ 1000,000, out of which your cash is around $ 100,000, which is to be appropriate 10%, if we have a Return on asset of about 10% and the cost of capital is 13% then it might so happen that the company will bleed eventually due to such excess cost of capital. If the company use these extra cash to reduce their equity, this will eventually bring down the Cost of capital, which will make the Return on asset higher than the cost of capital. Over Confidence in Management: Management are over confident when they have excess in cash with them, they try to deal with any problem by using that excess cash they have, instead of actually solving it they pay more money to come out of that problem easily. For example, during mergers when they are having a problem relating to deciding the terms, they pay more cash for acquisition to make it easier. Which ultimately reduces the value of the company paying such huge amount of cash. Environmental Performance Environmental Report Milbourn Manufacturers Ltd. Environmental Cost Report For the year Ended Particulars Environmental Cost (Amount $) Percentage of Selected Operating Cost/Total Costs (%) Percentage of Selected Operating Cost/Total Sales (%) Prevention Costs: Initial evaluation of environmental standing of new suppliers 2100 Performing environmental studies 7500 Training employees 1400 11000 0.27 0.21 Detection Costs: Testing for contamination 28000 28000 0.68 0.53 Internal Costs: Treating and disposing of toxic waste 215000 Maintaining pollution equipment 39000 Operating pollution equipment 19000 Revising evaluation of some existing suppliers 700 Inefficient material usage 70000 343700 8.38 6.48 External Costs: Cleaning up chemically contaminated soil 260000 260000 6.34 4.91 Total: 642700 15.68 12.13 (Technical Articles, 2010) Total Cost = $ 4100,000 Total Sales = $ 5300,000 Strategy to reduce negative outcome by prioritizing some environmental costs: There are many environmental saving cost which is being incurred by the company to reduce their effect on the environment, if we follow a proper strategy we can reduce these cost by decreasing their impact on the environment. These costs are: Treating and disposing of toxic waste: IF we go through the cost incurred in this, we will surely find this the 2nd highest cost incurred to control environmental damage. These can be reduced, by making sure that the waste disposal is minimising. If these are not minimised then they can create huge cost. Cleaning up chemically contaminated soil: This is the highest environmental cost incurred by Milbourn Ltd., these can be reduces if chemicals used are prevented from getting into the soil. If these are reduced, then the soil will not be required to be cleaned, and the cost will also reduce. References Budgeting Topics (2016). Cash Budget [online] Accounting Tools. Available at: https://www.accountingtools.com/cash-budget [Accessed 27 Sept. 2016] Budgeting Topics (2016). Production Budget [online] Accounting Tools. Available at: https://www.accountingtools.com/production-budget [Accessed 27 Sept. 2016] Budgeting Topics (2016). Material Budget [online] Accounting Tools. Available at: https://www.accountingtools.com/material-budget [Accessed 27 Sept. 2016] Budgeting Topics (2016). Production Budget [online] Accounting Tools. Available at: https://www.accountingtools.com/direct-labor-budget [Accessed 27 Sept. 2016] Agarwal, Rohit (2016). Behavioural Implications of Budgeting [online] Your Article Library. Available at: https://www.yourarticlelibrary.com/accounting/budgeting-accounting/behavioural-implications-of-budgeting-6-implications/52800/ [Accessed 27 Sept. 2016] Question Answers (2010). What is Participative Budget? [Online] Accounting Tools. Available at: https://www.accountingtools.com/questions-and-answers/what-is-participative-budgeting.html [Accessed 27 Sept. 2016] Technical Articles (2010). Environmental Management Accounting [Online] Acca Global. Available at: https://www.accaglobal.com/in/en/student/exam-support-resources/fundamentals-exams-study-resources/f5/technical-articles/Env-MA.html [Accessed 27 Sept. 2016]