Management Style At Marriott Hotel Commerce Essay

Management Style At Marriott Hotel Commerce Essay Contingency management is the most prevalent of all management concepts for the simple reason that it provides the necessary flexibility to develop strategies which pertain to each individual organisation. Adopting a flexible management style allows an organisation to be more adaptable to changes in both the micro (internal) and macro (external) environments. Leicester Marriott has adopted a form of contingency management which revolves around the human relations approach, whereby past studies have shown that certain variables are instrumental to employee satisfaction. Marriott gives tremendous importance to its associates, as they ultimately are the reason why the brand has been successful for so many years. Associate opinions are highly valued by members of management, so they are often required to attend brainstorming sessions where key issues are discussed. Such involvement should make way for improved productivity and efficiency, as having an input in the decisions taken in ones department is fundamental to happiness at work, which may also have a positive effect on other aspects of associate life. Members of management know that to maximise profitability, employees must be awarded a level of responsibility within the organisation, and most importantly, be respected and treated as integral members of the organisation. The five-star Grand Hotel Excelsior (GHE) in Malta is not owned or run by any hotel chain, but is privately owned by a British family. It started operations approximately four years ago, and has since risen to become one of the best hotels on the island, troubling the likes of Hilton, Westin and Le Meridien which dominate the luxury accommodation Market in Malta. The Excelsior is affiliated with the Iprefer group, which offers subscribed members numerous benefits such as special discounts and offers for Iprefer hotels throughout the world. At the Excelsior, divisions between upper management and their subordinates are generally noticeable, a trait which is reminiscent of bureaucratic management. However, utmost respect and gratitude is shown to employees when tasks are carried out successfully, and the general manager often stresses the fact that the hotels success is owed to its employees. Unlike Marriotts tried and tested approach to management, the Excelsiors directors and managers had to devise a management style which fit the organisations requirements. In doing so, training has been given top priority and is carried out by in-house specialists, as well as by some of Maltas leading consultation companies. Through personal experience, soft management is very much present within the rooms division as managers are aware that adopting hard management will not be beneficial. The employment of hard management may make employees fear their superiors, to the extent that absenteeism may increase, and employees may seek job opportunities elsewhere. However, this does not mean that managers should not, when necessary, show authority. Task 2 Using an organisation where you have worked evaluate the role and function of at least one manager. Compare and contrast the leadership style of your chosen organisation with one of the leaders in the case study. At the Grand Hotel Excelsior, Front office employees are the first to interact with guests, and must therefore project the hotels image of luxury and professionalism by being well groomed, well mannered, professional, and hospitable. The lobbys classic dà ©cor and warm lighting ensure that guests feel welcome and relaxed, particularly after hours of travel. Upon arrival, guests are greeted and assisted by the porter, and are then directed towards the front desk where they are offered a complimentary welcome drink, after which the check-in process begins. The front office manager manages all front of house operations to ensure that guests are offered an Iprefer experience. The roles and functions pertaining to this position are vast and crucial to the establishments success. The primary role of the front office manager is to develop and retain professional relationships with guests and non-guests, with the aim of having them return time and time again. However, he is aware that the only way to provide a seamless guest experience is to ensure that his team is, first and foremost, treated respectfully. Front of house operations pertaining to the front office manager include but are not limited to; reviewing the hotels room availability status and special guest requests, resolving guest complaints, reviewing comment cards, participating in the daily head of department (HOD) meetings, assisting his team members at the front desk when it gets busy, and when necessary, greet VIP guests and ensure that their check-ins go as smoothly as possible. He highly values his teams input and often sets up informal meetings to discuss any issues which they have faced or are facing, and asks for suggestions to mitigate such issues to ensure that the front office operates as efficiently and effectively as possible. Performance management and employee motivation are closely linked to leadership. The front office manager adapts positive leadership to his management style, which is crucial to ensure that employees adopt a positive attitude towards work and are not passive towards their duties. Performance management and motivation also ensure that profit forecasts are reached, services are consistent, and the overall environment is positive. Ultimately, guests expect value for money, and must therefore be offered an experience which meets, or more appropriately, exceeds their expectations. Performance management at Leicester Marriott Associate performance is fundamental to any organisations success. Potential associates at Leicester Marriott must undergo a three day induction before commencing work, to discuss key areas ranging from an explanation of the companys organigram to disability discrimination awareness. The techniques adopted range from lectures to audio-visual presentations in the form of corporate films. Once management is satisfied with their performance, they are cross trained by their department managers. The case study stresses that the pace of development within the company is solely up to the individual, so they must learn how to manage themselves accordingly. This happens to be a key characteristic of the human relations approach. Once a month a meeting is set up between associates and their managers to discuss and deal with any issues before they lead to any declines in customer satisfaction and other inconsistencies. By reducing staff turnover, the quality of the services rendered, the profitability obtained, and the ability of staff to progress within the organisation to higher positions will be a lot more likely. In-house as well as online programmes are offered to employees who wish to improve their skills and performance, whilst managers are trained at other Marriott establishments. This would allow managers to observe how different establishments undergo their daily business, and how although each Marriott hotel aims to provide a quality experience, each establishment has unique features which make them attractive, such as unique dà ©cor, unique entertainment, or unique members of staff, for instance. Performance management at the Grand Hotel Excelsior Online and session based courses are offered free of charge to members of staff on a monthly basis, whereby skills such as cultural appreciation and awareness, and numerous others can be enhanced. Training is constantly offered to members of staff in-house, by hotel employees as well as professional consultation companies. Management believes that it is crucial for employees to receive the best training possible so as to be able to provide a seamless experience to guests and non-guests. Induction training is typically one day long for those opting to work at front office, and this takes place in a meeting room on the premises. Being such a fast paced industry, most training occurs on the job. During the first few weeks of employment, employees at front office must log down their progress in a progress file, and take any necessary notes. Any issues which are encountered should be dealt with immediately to avoid unnecessary errors in the future. After the fundamental factors of cross training have been covered, employees must undergo a test whereby the skills obtained are examined. Motivation at Leicester Marriott Marriott believes that there are other means of motivation for staff other than receiving a salary at the end of the month. Employees should feel as though they are valued for their contributions to the organisations success. Staff is incentivised through numerous schemes such as discounts and exclusive offers when staying at Marriott properties. They may alternatively opt to receive vouchers for high end shops instead of making use of their Marriott stay. Although other motivators often overshadow working conditions, conditions at work may indeed lead to de-motivation. To avoid this, management provides quality canteen services, easy access to uniform, extensive taxi benefits, as well as other basic factors. Other motivators come in the form of team building exercises, where employees can get to know each other better and develop stronger professional relationships, as well as departmental outings, barbeques, dress parties, Oscar parties, employee of the month and special person awards ceremonies, as well as appreciation week. Motivation at the Grand Hotel Excelsior Motivation is a fundamental part of leadership, as all those who form part of a team must be rewarded in some way or another for their efforts. Maslows hierarchy of needs plays an integral part in ones performance at work. It states that for a person to live a fulfilling life there must be the necessary foundations in place. The satisfaction of the basic physiological requirements such as food and shelter are required to be able to work our way towards self-fulfillment. It is understandable that organisations are unable to cater for all the factors listed in Maslows hierarchy because of financial and/or other limitations. At the Grand Hotel excelsior, employees are offered good quality canteen facilities for breakfast, lunch, tea time and dinner. The hotel also provides free accommodation for foreign students working at the hotel as well as for employees who work around the clock to prepare for large events. This is done to avoid employees having any unnecessary road accidents whilst driving home from work. A sense of safety is provided by constant 24 hour CCTV surveillance, as well as security officers, whilst a sense of belonging is evident in the group work that is required to successfully deal with everyday situations. Management at the Excelsior rewards staff for their contributions to the success of the organisation mainly through special rates for themselves and close friends and family, a free weekend break at the end of each year for each employee and a partner, a good bottle of foreign wine for the member of staff with the highest up selling score, bonuses for every up sell which takes place, such us upgrading guests to a Sea View or Sea Front room from an inland view room, as well as certificates which are awarded to the best performing members of staff during the IXL (I Excel) Awards ceremony. Besides these, there are numerous other departmental activities and events which are organised throughout the year. Employees may also benefit from easy uniform access from 6 am till 6:30pm, taxi discounts, and other basic factors which staff need to be happy in their workplace. Task 3 Evaluate the leadership skills required to ensure effective management of the staff of the two organisations. The main aim of a manager is to maximise the output of an organisation and simultaneously maximise profitability. To do so however, it is more often than not required to have positive leadership skills when working in the services industry. Employees often seek the guidance or assistance of their superiors, and their ability to perform well may be hindered by the inability of their superiors to lead by setting the right example. Effective leadership is therefore fundamental for the management of the staff of the two organisations. Performance management For both organisations to remain competitive and successful, they must ensure that employees are given the best possible training. Although it is difficult to provide perfect services in an industry full of variables, perfection must be aimed for nonetheless. A measure of performance must be established to be able to analyse areas which have been improved as well as those which await improvement. To be able to improve performance; Current performance must be analysed and compared to a set target. Plans must be devised to be able to improve current performance and bring it in line with targets. The devised plan must be implemented, The implemented plan must be assessed, and The methods of measurement must be re-assessed and re-formulated if it is required to do so. Motivation Maslows hierarchy of needs happens to be one of the most straightforward theories in psychological and motivational studies, which states that every human being has the basic requirements of food, drink and shelter, and it is only when these are satisfied that we are able to work towards self-fulfillment. Employees are motivated through the provision of certain elements from this hierarchy. Employees should be incentivised to adopt a more positive attitude towards their duties, as well as to improve their performance. They need to know that they are of value to the organisation, as working in the hospitality industry requires a lot of time, energy and patience. It also happens to be one of the lowest paying industries, yet the input that is required for operations to run smoothly is phenomenal. Employees would expect to be motivated in other ways other than just receiving a salary at the end of the month, as this is a very short-lived motivator. They need to feel valued and respected by their superiors and by others, something that the new front office manager at the Grand Hotel Excelsior is highly capable of. He offers that reassurance that he is there for everyone, and that everyone should approach him when they have any difficulties. Most importantly, he knows that to develop as a team and overcome obstacles, he has to build a strong, reliable and trustworthy team. Ethical leadership Ethics is a branch of psychology which allows us to distinguish between, and understand the concepts of right and wrong. Leading by setting the right example is crucial for employees to feel secure at work. Unethical leadership can cause harm to employees on a psychological level, and this may spread to other aspects of their lives. Ethics is a complex subject and employees unfortunately face numerous difficult situations at the work place, where they may disagree with the actions of their superiors, but are often afraid to confront them because it may ultimately cost them their job. Action-centred leadership Taking immediate action on issues which must be addressed is important to ensure that professional relationships with employees are strengthened and not lost. Managing others requires a lot of patience and experience, and it is through positive leadership that much of it is possible. John Adairs action-centred leadership model deals with three crucial responsibilities that managers should possess. Depending on the difficulty of the task, the managers input may not be required until after the task is carried out. On the other hand, the manager may have to manage a team, group, or individuals if the task at hand requires detailed planning and foresight. Below are the three processes of Johns Adairs concept: achieving the task managing the team or group managing individuals Successful leadership also relies on effective communication, counseling, stress management and unwritten psychological contracts. Communication and counselling Communication is important for the smooth running of any organisation. It allows for the clarification of messages up and down as well as across an organigram. Communication may take virtually any form, ranging from verbal to virtual discussions. Improved communication will allow for fewer hiccups in the services being rendered, meaning that guests will undoubtedly have a better experience. Managers often have to counsel team members with issues or difficulties that they are facing. These may range from discussing past performance to discussing difficulties that they are having in relation to their work or personal lives. Stress management Stress is very often work related, and this may result in relationship problems at home and at work, as well as health problems, if it is not appropriately administrated. The effects of stress differ from person to person, and some people may be more capable of dealing with stressful situations than others. Excessive stress may reap havoc on a team, and may limit its ability to perform in line with targets. This is the reason why motivating employees is crucial to ensure that they develop a positive outlook on their duties at work, which would significantly decrease the perception that work and stress are correlated. Psychological contract The psychological contract is an unwritten contract that is the basis of a professional relationship that exists between employees and their employers. An employer would expect to be respected by his team, and an employee may in turn expect good working conditions and respect from the employer. Even though the psychological contract is unwritten, it is the least that is expected by employees and employers at work, and this forms the foundation upon which professional relationships are built and strengthened. Task 4 Examine a team in which you have worked and write an account of the nature and behaviour of the group A team is a group of people that works together to reach a common target or objective. This objective can only be achieved with the combined efforts of each team member as the human input required is often too much for one person to handle, particularly when deadlines are involved. Working at the front desk requires constant team work. The effectiveness of a team depends on how well each team member understands their roles, and how well they know each others characters and working methods. It is a fact that no one works in the exact same way as we all have different personalities; thinking patterns and methods of achieving the same objectives, and it is through such differences that we are able to provide a refreshing experience, one which is unique and special, yet professional. Although the team work required at front office is often not for specific projects, such as for instance coming up with a new up-selling strategy, we unconsciously consider every shift to be a project. The teams common objective is to ensure that all guests are satisfied with what they have purchased and that what we are providing them with meets, or exceeds their expectations. The people I work with at the front desk are undoubtedly important to me, and the way I work. They certainly ease the stress of having to deal with every guest on your own, but more importantly, you know that there is someone who is in the same position as you are, dealing with similar issues and problems. When I see that my colleagues are having difficulty dealing with a specific issue, I do not hesitate to assist them, and vice versa. The typical shift is eight hours long, so it is in everyones best interests to get to know each other well by communicating openly and sharing ideas and thoughts, with the aim of developing trustworthy and positive professional relationships. Bruce Tuckman (1965) developed four critical stages for team development. These stages describe how teams are developed, and how issues are dealt with to reach a common objective. The first stage is forming, which deals with the actual getting together of group members. Once my skills developed through training at the Grand Hotel Excelsior, the responsibilities given to me increased, and I was therefore more capable of working as part of a team. The second stage is storming, whereby the team analyses its objectives, and clearly defines the responsibilities of each team member. When problems arise at work, we discuss all of the possible ways in which we can solve them. We then select the most effective and efficient solutions which are in line with hotel policy. The third stage is norming, whereby team members work conjunctively to reach their targets, mainly through the creation of guidelines and rules. As team members work together, they will develop stronger relationships and will therefore develop trust. Through work I was not only able to develop professional relationships with my colleagues, but I was also able to develop strong friendships. It is through such friendships that we are able to work successfully with one another. The final step is performing, whereby team members understand each other and their work, and their utmost concern is getting the job done. Working in a hotel is immensely fast-paced and there is little time to be wasted. The main objective of a front of house agent is ultimately to get the job done efficiently and professionally, in order to assist our next guests. Task 5 Discuss how the traits and characteristics of the individuals within this team influence their behaviour at work Individuals who form part of the front office team have cheerful personalities, and their cheerfulness is visible in the way they work to ensure that guests are greeted and treated welcomingly. Guests enjoy meeting members of staff who are approachable, and they often stop by the front desk for a quick chat. As a team, we know each others basic traits and characteristics well. The true personalities of team members break free during break time, or after work, as working in a five star hotel requires one to behave in a certain manner. As a team, we know each others basic traits and characteristics well. The true personalities of team members break free during break time, or after work, as working in a five star hotel requires one to behave in a certain manner. Personal characteristics typically include visual aspects such as gender, race and age, social and cultural characteristics such as religion and sexual orientation, and psychological characteristics such as motivation and attitudes. It is through such personal characteristics that we develop particular beliefs or preferences, such as religious or political preferences, for instance. Delicate subjects may be openly discussed between team members because of the friendships that have develop over time. However, such delicate subjects are never discussed with guests as they may project a negative image of the individual, as well as the organisation. The most prominent traits of individuals are said to be the big five personality traits, which include conscientiousness, agreeableness, neuroticism, openness and extroversion. My team mates undoubtedly possess a mixture of these five traits, and numerous others. It is impossible for people to have the exact same character as others, as ones character is ultimately a product of their life experiences. Perception is an important subject when dealing with traits and characteristics. Individuals may make certain traits visible, such as agreeableness and conscientiousness, but are able to hide other traits which they feel should not be visible, such as neuroticism. It is normal to feel anxious when stressful situations arise, and the level of anxiety which is experienced by an individual depends on what their threshold for anxiety tolerance is. In such a case, a guest may perceive the member of staff to be calm and composed, when he/she is in fact feeling anxious. Task 6 Compare and contrast the structure of Leicester Marriott with an organisation where you have worked/have researched. To be able to deal with all the processes required to operate a hospitality establishment such as a large capacity hotel, company directors and managers must employ specialised teams to ensure that all work is done efficiently and effectively, with the highest precision, and where possible, the lowest cost. As the Leicester Marriott Hotel and the Grand Hotel Excelsior are both relatively large establishments they require formal structures with specific roles and responsibilities. Every manager is responsible for a particular department and team. This in theory should allow for greater efficiency as the work is divided amongst those who are most experienced in their respective fields. The Grand Hotel Excelsiors functional structure is similar to that of Marriott, as they both have a General Manager, department managers, supervisors, and Employees. As the Grand Hotel Excelsior has 427 rooms, and the Leicester Marriott has approximately half as many, the GHE should in theory have more positions and therefore more employees. The span of control that each manager possesses varies depending on department. For instance, the front office manager at the GHE is responsible for the front office team as well as the housekeeping department, which happen to be the largest departments within the hotel. On the other hand, the accounts department is one of the smallest, employing a few specialised individuals. The organigram below gives a detailed breakdown of the different roles at the Grand Hotel Excelsior. An official Marriott PDF document found at www.docstoc.com states that the organisation believes strongly in the benefits associated with departmentalisation and unity of command, whereby only one person reports to one manager. In this case it must be the supervisors who report to their department managers. Below is an example of what the Marriott organigram may look like in its simplest form. As is clearly evident, the main structures of both organisations are fairly similar. One of the major differences however is that the Excelsior has many more facilities and amenities than the Marriott hotel, and would require larger departments to ensure that all operations run smoothly, particularly during peak season. General Manager Department Manager Department Manager Department Manager Associates Associates Associates Supervisor Supervisor Supervisor Microsoft Word (2003) Task 7 Describe the culture of the organisation at the Leicester Marriott Hotel and explain how it impacts on the success of the business The Leicester Marriott promotes a strong brand identity, one which guests have grown to love and trust. A loyal guest would expect the level of service at the Marriott Marquis in Times Square to be of as high a standard as the Leicester Marriott hotel as both establishments have the same high expectations from their staff, and both hotels share the same core values and objectives. Members of staff at Leicester Marriott are all considered to be associates, a term which the organisation believes adds further purpose to their roles. Marriot currently places 82nd on CNNs top 100 list of best companies to work at for the year 2010, a claim which has remained true for many years. However, the recruitment process does not appear to be simple. Only those people who fit the organisations mindset are eligible to join as management believes that it is not easy to teach people how to develop the right attitude which is required to progress within the organisation. This appears to be a characteristic of a relatively closed organisation, and may as a result give it a more prestigious image in the job markets. The organisations culture is successful because it allows associates to develop trust, collaborate, and be creative. The culture is reinforced through numerous activities such as Staff barbeques, department outings, parties and other activities which allow them to get to know each other better, develop relationships, and ultimately, provide better quality services to guests. They are also given the opportunity to share ideas during the weekly departmental discussions, where the weeks most challenging moments are discussed, and feedback is exchanged. The organisations core values are the main driving forces behind its culture, as stated in the corporate information section of the Marriott website. Its culture influences the way it treats associates, loyal clients, and the community, which it strongly supports. Motivation is certainly a major part of the hotels culture as management knows that the only way to make guests happy is to ensure that associates are equally happy. Task 8 Discuss the communication channels of the firm in the case study and explain the importance of effective communications within organisations. Communication skills are crucial within any organisation. The inability to communicate effectively will result in a negative guest experience and will eventually lead to some form of negative publicity. The organisations team building exercises may make way for improved communication between members of staff as well as departments. Guests tend to vent their anger on websites such as Trip Advisor when their holidays or business trips do not go as planned as a result of inefficient communication. The deliverance of any product, be it a good or a service, requires proper communication skills, particularly if the organisations in question wish to retain customers. Leicester Marriott knows that communication is crucial, and it therefore gives extreme importance to all communication channels. Verbal communication is the main source of communication during departmental meetings which are held once a month, whilst once a quarter members from all departments are gathered to discuss hotel performance and receive organisation updates and recognition awards. Daily shift meetings are also organised amongst HODs to discuss important events, and interdepartmental meetings are held every week to discuss the weeks challenges. Such communication allows employees to effectively tackle internal issues and, when possible, conjure up immediate solutions. One of the main corridors in the back of the hotel is purely dedicated to communication between associates, where one can find staff notice boards containing written information about internal and external job vacancies, social activities, special hotel offers, health and safety procedures, employee of the month information, and numerous others. Such information must be visible and easily accessible to all associates, as well as regularly updated to keep the interest alive. Associate newsletters are published and distributed to all staff on a weekly basis to ensure that they are updated with the latest hotel issues. During break time, events and other activities, associates are free to chat and catch up on work and non-work related gossip, which is important to ones happiness. Hospitality organisations utilize almost every communication channel. Written methods of communication may take the form of reports which are written up by management for hotel directors, letters which are sent by personnel from the accounting department to banks, emails which are sent by employees at the reservations office to potential guests, and notices which are put up on the staff notice board in the main staff corridor. Spoken methods such as face to face encounters are constantly experie

Assignment Product Life Cycle Essay

Each product will have a life cycle. Using examples, illustrate each stage in the Product Life Cycle outlining the possible challenges and strategies which may be employed to sustain the sales and profitability of the product. What is a Product? A product is anything that can be offered to a market for attention, acquisition, use, or consumption and that might satisfy the customer wants or needs. A product is more than just a tangible goods, it is a service (haircuts, home repairs etc) or idea. However, in marketing product is not just looked at as something that is tangible, but it allow for communicating with the targeted audience on matters such as packaging, branding, highlighting the product tangible benefits, the massaging of the customer’s ego as to why they should have a particular product. Product can be viewed at three levels, such as Core Product – it addresses what the buyer is really buying, the Actual Product – which features characteristic such as quality, brand, design etc., and the Augmented Product – it is the additional consumer services and benefits that are built around the core and actual product, which includes things as the after sale service, installation, warranty etc. A Product can also be divided in two main classification based on the types of consumer that used them. These classifications are Consumer Products – which are bought by final consumers for personal, and Industrial products – which are those purchased for further processing or for use in the production of other goods and services. For example, flour that is used as an ingredient in the making of pastry like bun, bread etc. The Product Life Cycle The Product Life Cycle (PLC) is a useful tool employed by marketers to know and determining at what stage a product is in its life. Most Product Life-Cycle curves are portrayed as bell-shaped (See figure below). The product life cycle has four (4) very clearly defined stages, each with its own characteristics that mean different things for business that are trying to manage the life cycle of their particular products. 1.  Introduction Stage – This stage of the cycle could be the most expensive for a company launching a new product. It is a period of slow sales growth as the product is introduced in the market. Profits are non-existent because of the heavy expenses of product introduction, although it will be increasing as the product moves on to the growth stage. 2. Growth Stage – The growth stage is typically characterized by a period of rapid market acceptance and substantial profit improvement. strong growth in sales and profits, and because the company can start to benefit from economies of scale in production, the profit margins, as well as the overall amount of profit, will increase. This makes it possible for the company to invest more money in the promotional activity to maximize the potential of this growth stage. 3. Maturity Stage – A slowdown in sales growth because the product has achieved acceptance by most potential buyers. Profits stabilize or decline because of increased competition. During this stage the aim of the manufacturer is now to maintain the market share they have built up; by consider any product modifications or improvements to the production process which might give them a competitive advantage. During the maturity stage, the product is established and the aim for the manufacturer is now to maintain the market share they have built up. This is probably the most competitive time for most products and businesses need to invest wisely in any marketing they undertake. They also need to consider any product modifications or improvements to the production process which might give them a competitive advantage. 4. Decline Stage – Sales show a downward drift and profits erode. While this decline may be inevitable, the downward drift and profit erosion maybe due to the market becoming saturated (i.e. all the customers who will buy the product have already purchased it) or because the consumers are switching to a different type of product. The idea of the product life cycle has been around for some time, and it is an important principle manufacturers need to understand in order to make a  profit and stay in business. However, the key to successful manufacturing is not just to understand the product life cycle, but to proactively managing products throughout their lifetime, applying the appropriate resources and sales and marketing strategies, depending on what stage products are at in the cycle. Let us now look at the possible challenges and strategies for each stages of the product life-cycle. Marketing Strategies: Introduction Stage The first of the four product life cycle stages is the Introduction Stage, which a new product is first distributed and made available for purchase. Any business that is launching a new product must decide when to enter the market and needs to appreciate that this initial stage could require significant investment, increasing awareness of the product through effective marketing and promoting, and also low pricing strategies maybe employed to attract customers and give the new product the best chance of achieving product’s success. For example, a cell phone manufacturer with new technology may introduce a cell phone with basic features at reduced prices in hopes of gaining lots of new customers. Challenges of the Introduction Stage Small or no market: When a new product is launched, there is typically no market for it, or if a market does exist it is likely to be very small. Naturally this means that sales are going to be low to start off with. There will be occasions where a great new product or fantastic marketing campaign will create such a buzz that sales take off straight away, but these are generally special cases, and it often takes time and effort before most products achieve this kind of momentum. High costs: Very few products are created without some research and development, and once they are created, many manufacturers will need to invest in marketing and promotion in order to achieve the kind of demand that will make their new product a success. Both of these can cost a lot of money, and in the case of some markets these costs could run into many millions of dollars. Losses, Not Profits: With all the costs of getting a new product to market, most companies will see negative profits for part of the Initial Stage of the product life cycle, although the amount and duration of these negative profits does differ from  one market to another. Some manufacturers could start showing a profit quite quickly, while for companies in other sectors it could take years.

Factors That Influences Blood Glucose Control - 2932 Words

Abstract Background: Diabetes is the most dangerous and common life long-health condition which affects mankind irrespective of age. Diabetes is a boon for the health care provider as it is a very demanding and complex disease. It is very essential that this killer disease must be identified early and significant treatment must be entitled to the patient as soon as it is detected. By creating a good awareness of this disease and its manifestations, the increasing number of mortality and morbidity of patients can be reduced around the globe. Aims Objectives: This thesis is aimed at identifying the major factors which influences blood glucose control, the measures needed to control the upsurge of diabetes in the society ,preventive measures , precaution steps and means of keeping diabetes under control. âž ¢ The relevance of diet in glycaemic control and the factors which influences the change in glycaemic level in a diabetic patient. âž ¢ The means of estimating glycaemic levels, relevance of HbA1c and the screening process for diabetes. âž ¢ Can blood glucose control prevent , delay or reverse Diabetes mellitus? âž ¢ Does the degree of blood glucose control affect the development of complications equally in all patients ? Clinicians must be aware while treating DM patients of the main causative factors which can lead to variations in the glycaemic levels and glucose monitoring. 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The condition is commonly prevalent, and in the year 2013Read MoreTypes And Types Of Insulin1515 Words   |  7 PagesPancreas, an organ that sits behind the stomach, releases hormones into the digestive system. In a healthy body, when the glucose level gets too high, special cells in the pancreas called the beta cells release Insulin. Insulin is a hormone which causes cells to take in the glucose and use it as energy or store it as fat. Diabetes, a lifelong metabolism disorder causes high blood sugar levels. There are three major types of Diabetes- 1. Type-1 diabetes- It occurs when the immune system mistakenly attacks

Leaders of The Civil Rights Movement - 970 Words

Martin Luther King Jr. Michael King was an amazing Civil Rights movement leader. At a young age he knew racism was not only bad against his race, but was against God’s will. He was raised with the church background of The Dexter Avenue Baptist Church of Montgomery. Martin Luther King Jr. believed everyone was equal, he fought for African American rights, and spoke for equality until the end. Martin Luther King Jr. always knew everyone was equal. No matter what race you are, you are just as equal as the person beside you. Ever since Martin Luther King Jr. was a young boy, he had a church background. Martins father was a pastor. As Martin got older and went to college he actually turned against ministry. Later on down the road Martin decided to take a bible class. This class changed Martins thoughts. After King graduated college he became a minister of the Dexter Avenue Baptist church of montgomery, and a social activist. Age 26, was Martin Luther King Jr.’s first leaders hip of civil rights. His first mission was after Rosa Parks got arrested. Martin got a call from a group named Montgomery Improvement Association. The group had chose Martin Luther King Jr. to be their leader. Of course Martin wanted to help, so him and Nixon met at the NAACP to plan the boycott. The Montgomery bus boycott ended up lasting 381 days into December 1956. Finally the U.S supreme court ruled that the segregation law was unconstitutional. Montgomery buses were integrated. This was Martin LutherShow MoreRelatedInfluential Leaders Of The Civil Rights Movement1016 Words   |  5 Pagesformal charismatic leaders in the movement, there was not a situation in which a woman could be a charismatic leader. Ella Baker, highly critical of King, the charismatic leadership in the Southern Christian Leadership Conference, and of charismatic leadership in general, believed that group-centered leadership was the answer. 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The Civil Rights Movement had many important leaders, likeRead MoreLeadership Styles And Activism Of African American Women1026 Words   |  5 PagesWhen asked to identify important leaders of the civil rights movement, the name that most often comes to one’s mind is Martin Luther King Jr. Others may mention James Forman, Ralph Abernathy, Fred Shuttlesworth, James Farmer, Andrew Young, or Bayard Rustin. Notably missing are the names of women leaders. Rarely would Ella Baker, Septima Clark, Gloria Richardson, Daisy Bates, or Fannie Lou Hamer be identified. The absence of the women leaders of the civil rights movement from history is not because thereRead MoreEssay on Martin Luther King: A True Leader944 Words   |  4 PagesLuther Kind: A True Leader Do you think Martin Luther Ki ng deserves his reputation for being a great leader of the Civil Rights movement? What were his strengths and weakness? Overall, what is your verdict? Dr. Martin Luther King’s actions during the Civil Rights movement of the 1950’sRead MoreCivil Rights Movement and Black Nationalism Essay1210 Words   |  5 PagesEnglish 1302.044 March 3, 2000 Militant and Violent Acts of the Civil Rights Movement and Black Nationalism The rights of African-Americans have been violated since they were brought over to America as slaves in the late 1600s to the land of the free. Great political gains for African-Americans were made in the 1960s such as the right to vote without paying. Still, many African Americans were dissatisfied with their economic situation, so they reacted with violence in the form of riots. Other

Use of Disguises in Homers Odyssey Essay - 986 Words

Use of Disguises in Odyssey The characters use of disguises in Homers Odyssey is a crucial element that helps to catalyze the victory of good over evil. Each disguise is unique, created for a specific purpose. Before she talks to Telemachos, Athena disguises herself as a wise old man in order to ensure that her words carry weight and are taken seriously. She knows that she must assist and encourage Telemachos into searching for his long lost father without revealing her divine nature, so she assumes the guise of Mentor because men were generally given more credibility in those days. In a similar vein, Odysseus disguises himself as a homeless man in order to exude anonymity so that he can safely return to Ithaka where he†¦show more content†¦He is praised by Athena for his ability to quickly devise a false tale. In the Achaian world, intelligence is more highly treasured then a hard working man. Odysseus cleverness makes him godlike and comparable to the immortals, and he even had opportunities to be among the immortals, as exemplified by Kalypsos offer for eternal life and youth. Despite the fact that he is cheating on his wife, an unscrupulous act, Odysseus is still regarded as a great man; glorious and honorable. Contrast to the modern American view of evil, Odysseus blinding of Polyphemus is not an evil act, but rather one that is praised for its cleverness. Odysseus nobody trick has proved to save his life. Although his goal was to survive, Odysseus abandoned his morals of honesty to accomplish the feat. By identifying himself as nobody, he fooled Polyphemus, but he also hid his true identity, which is lying and deceiving. He actually degraded his manhood by disguising himself mentally. Ironically, Odysseus escapes not as a manly warrior, but rather as a sheep. After leaving the cave, he wants to redeem himself and his manhood. Revealing his name to Polyphemus almost cost the crew members their lives, but the fame that Odysseus would obtain from tricking Polyphemus will be everlasting and was worthwhile to him. Showing a lack of good judgement, Odysseus again reveals his position in the water, but luckily, they do escapeShow MoreRelated Use of Disguise in Homer’s Odyssey Essa y2154 Words   |  9 PagesUse of Disguise in Homer’s Odyssey   Ã‚  Ã‚   The difference between a wise and a foolish decision is often found in discerning when to conceal and when to reveal. This discretion in concealing and revealing is a major theme within The Odyssey. There is a proper time to deceive and a proper time to tell the truth; thus, it is crucial that one act accordingly. This importance is exemplified in Odysseus life. When he is discreet in his timing, he achieves his goal. One example of this is the TrojanRead MoreEssay about Use of Disguise in Homers Odyssey1056 Words   |  5 PagesThe Use of Disguise in Odyssey       In Homers Odyssey, the use of disguise to help convey a false identity assists the characters in accomplishing their plans.   Without the use of disguise it would thwart Odyssey’s attempts at arriving back to his homeland. Each disguise has its own individual purpose, for example Athenes image as Mentor to advise Telemachos.   The main intention being to assist and encourage Telemachos into searching for news of his long lost father without revealingRead MoreO Brother, Where Art Thou?: Modern Adaptation of Homers Odyssey1265 Words   |  6 Pagesthe epic poem The Odyssey. 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O Brother, Where Art Thou? contains ideas from The Odyssey for the sake of modernizationRead More Disguises in Homers Odyssey Essay954 Words   |  4 PagesDisguises in Homers Odyssey   Ã‚  Ã‚  Ã‚   In Homers Odyssey, disguises help convey a false identity that assist the characters in accomplishing their plans.   Each disguise has its own purpose, such as Athenes image as Mentor to advise Telemachos.   Her purpose was to assist and encourage Telemachos into searching news of his long lost father without revealing her true identity of divinity.   Being old and wise, and especially male, helps put more power behind the words spoken by Mentor because menRead MoreHomer s Odyssey : Power Of Cunning Over Strength910 Words   |  4 Pagessurroundings in order to craft an overall message or theme as a takeaway for their audience. Homer’s epic The Odyssey demonstrates this well. While Homer’s epic depicts Odysseus as a strong and powerful king who has won many wars, it is not his strength that propels him to be able to return to his home. If one were to read between the lines, they would realize that one of Homer’s major themes in The Odysse y compares the power of cunning over strength. The theme unfolds throughout the narrative whenRead MoreEssay on The Importance of Identity in Homers Odyssey1433 Words   |  6 PagesThe Importance of Identity in Homers Odyssey Within the epic poem The Odyssey, Homer presents the story of Odysseuss quest to find his home and his identity. 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It is the many disguises that each character uses thatRead MoreAn Analysis Of The Odyssey 1251 Words   |  6 PagesMimi Wang Mrs. Kottke Honors 10 English 3/24/16 The Power of Women in The Odyssey Throughout literary history, women are portrayed as mere property or tools of men; however, women can also be shown as people who hold power in Homer’s The Odyssey. Women hold a significant amount of authoritative power over men in both their lives and mindsets, and this can be seen through Circe s powers that are able to manipulate Odysseus and his men, Penelope s tactics to stall marriage and her caution towardRead MoreMetamorphosis In Homers The Metamorphosis979 Words   |  4 Pagesexperienced in the form of disguises, which can be used to serve many different purposes. (Discussion) This idea of metamorphosis is an important aspect of identity in mythological texts. (Thesis) In the Odyssey, Homer uses metamorphosis on the character Athena to help her fulfill her role as a mentor. Ovid’s The Metamorphoses also uses metamorphosis of the characters Io and Callisto to insure their identity as Jupiter’s mistresses. (Essay Map) First, in Homer’s The Odyssey, metamorphosis is usedRead MoreArchetypes In Homers The Odyssey1507 Words   |  7 PagesAncient Greeks’ work consists of monsters, creatures, gods, goddesses, fights, and battles. It shows that Ancient Greeks are very imaginative and creative. Three main archetypes that are used in Homer’s epic ,The Odyssey, each show a different aspect of Ancient Greek culture. The three archetypes are: the hero archetype, the monster archetypes, and the search for love. The hero archetype shows the Ancient Greeks’ love for thrill and adventure; Odysseus goes on many thrilling adventures while on

Web Du Bois and Double Consciousness Free Essays

W. E. B. We will write a custom essay sample on Web Du Bois and Double Consciousness or any similar topic only for you Order Now Du Bois: Double-Consciousness Ashanti Johnson SOC101 Lestine Shedrick October 18, 2011 W. E. B. Du Bois (1968-1963) was a huge contributor to sociology through the eyes and experience of an African-American scholar (Vissing, 2011). Du Bois was an author, activist and student of Black sociology. In his 1897 article, Strivings of the Negro People†, Du Bois introduced the term â€Å"double-consciousness†, a concept I believe to be just as relevant in today’s African-American communities. Double consciousness refers to what Du Bois considered an absence of â€Å"true self consciousness† (Du Bois, 1897) amongst Africans in America. In place of that absence, lies a dual awareness- awareness of one’s self combined with an awareness of how others perceive you. Is being an American a contradiction to Black identity, even in contemporary society? In his 1903 book, ‘The Souls of Black Folk’, Du /bois gives an analysis of African-Americans and double-consciousness, that Black people are caught between separate self conceptions, as an American and as an African. â€Å"The negro ever feels his two-ness, an American, a negro, two souls, two warring ideals and one dark body whose dogged strength keeps it from being torn asunder† (Du Bois, 1903). Du Bois broke his concept of double-consciousness down into three manifestations: First, the power of White stereotypes on Black life and thought. Second, racism and the exclusion of Black Americans from mainstream American society. Lastly, Du Bois points out the internal conflict between being of African descent and being an American. What is the power and influence of White stereotypes on the everyday lives of African-Americans today, in the 21st century? We live in a society that, many could argue, is saturated with Black culture. Commercial television, film and radio are largely influenced by African-American language, imagery and music. Examples of what used to be considered African-American youth vernacular, have seeped into mainstream culture. Words and phrases such as â€Å"bling† and â€Å"you go boy† are not Black slang, but American slang. The continued commercial inclusion of African-American images, language and music, does not eliminate double-consciousness- it may, in fact, magnify it. The stereotypes and images of Black people in America have evolved since Du Bois coined his term in 1897, but even the ever-changing understanding of Black culture leaves most African-Americans trapped in a conflict of who they are versus who they are believed to be in the eyes of America. On one hand, Africans are credited with inventing many genres of sound, dance, art and athletic styles. Although there are many groundbreaking contributions in math, medicine and science, Africans are not â€Å"popular† for these attributes. Because of this, many African-American parents keep their children from concentrating on such areas of strength as dance, music or sports in order to keep them away from a stereotypical field of study. Double-consciousness will have a talented athlete fore-go a sports career so that they are not considered â€Å"just another ball player†. When we think of Black Americans being excluded from mainstream American society, we consider the generations leading to the civil rights movement. Today, our President is an African-American, so surely this issue is no longer relevant. Racism cannot flourish in contemporary America, right? According to Merriam Webster’s Dictionary, racism is â€Å"a belief that some races are by nature superior to others† and the â€Å"discrimination based on such beliefs† (Webster, 2011). We now live in an anti-racism society. It is frowned upon to act or react in any way that could be construed as racist. Our society has laws in place which make racist actions in the workplace, school or even in public- illegal. The conflict of double-consciousness still exists in this modern, anti-racist America. Perhaps even more frustrating for today’s African-American, is living with the reality of racial tension in a society refusing to admit that such tension still exists. Du Bois spoke of internal conflict as being the most significant manifestation of double-consciousness. There is an inner conflict between being of both American and African lineage. African-Americans are a special group of immigrants who did not choose America as their new home. It was slavery that brought the African to America for generations of forced labor. The knowledge that most of the African culture, language, history and experience, was lost to American Africans after the slave trade, helps fuel the inner conflict. Where should the African-American feel his strongest connection? Africa? America? In conclusion, double-consciousness impacts the African-American today just as it did in the early 1900’s. W. E. B. Du Bois described his concept as â€Å"a world which yields no true self-consciousness, but only lets him see himself through the revelation of the other world† (Du Bois, 1903). Today’s politically correct society tends to use the word â€Å"color blind†, intended to show an acceptance for all people, regardless of race or color. Today, the double-conscious African-American must continue the search for his conscious identity in a society which has gone from color-racist to color-blind in a matter of a few decades. References Du Bois, W. E. B. (1897, August). Strivings of the negro people. The Atlantic, Du Bois, W. E. B. (1903). The souls of black folk. Chicago: McClurg and Company. racism. 2011. In Merriam-Webster. com. Retrieved October 18, 2011, from http://www. merriam-webster. com/dictionary/racism Vissing, Y. (2011). An introduction to sociology. San Diego, CA: Bridgepoint Education How to cite Web Du Bois and Double Consciousness, Papers

Auditing Services Business Risk Evaluation

Question: Describe about the Auditing Services for Business Risk Evaluation. Answer: 1 (a) Evaluation of business risk associated with HIH made it clear that all the business risks remains associated with international, environmental, as well as domestic aspects (Margret and Hoque 2016). These risks are considered to remain associated with the recognition of Australian insurance industry and the manner in which HIH remains efficient to amend itself with the risk analysis parameters. Determining Insolvency Risk- Ample strategies can be employed for recognizing insolvency risks within which the function of risk analysis are associated with the auditing risk analysis (Abdullah et al. 2016). There exists ample wide-ranging agreement, which is vital to encompass the expertise to deal with the debts of the organization. Having the support of risks linked with insolvency along with structure of profitability there exist a need to focus hugely on business which will encompass less number of consumers to commence the sector (Lessambo 2016). Such framework is in consideration of the organizations expertise to decrease its remaining debt. This is because, it is necessary that an organizations solvency is determined which then evaluates non-financial in addition to financial factors. Analysis on Profitability and Structure Associated with it- Though there are several applicable approaches that can analyze business risks associated with HIHs, it is deemed to consider to explore the competitive environment of the sector regarding the boost in competition and increase in range of prices (Caplan and Dutta 2016). In order to explore associated risks, handling the insurance in accordance to the Australian industry happen to be considerably easier than those are new within to the industrial regulations. 1 (b) An ample risk that HIH insurance company is able to eliminate contains risk factors related to auditing. For this reason, the company needs to issue an unqualified audit based on certain financial statements. Such aspects were intended to handle planning and procedure associated with several risks associated with business that should be detected and controlled accordingly (Emmerig and Legg 2016). Control risks have several material inaccuracies that HIH Insurance was not capable to detect within its internal control systems. Results were gathered from the case of HIH indicates the accuracy and comprehensiveness of the general ledger in order to facilitate ledger recognition as well as the bank account, that HIH Insurance still did not concern to consider (Pearson 2016). Company performance is deemed to be focused on the method of substantive differential, which presents excess dependence on the external documentation method (Sirtes et al. 2016). Ledger accounts enclosure along with different bank accounts supports valuation of tangible assets within organization. Risk can be evaluated through applying several techniques based on auditing and organizational performance. Risk also includes not being aware of the inaccuracies or any material assertions (Adams 2016). It has been recognized that it is extremely vital for HIH that will ensure timely planning and eliminate the situations whereas material misstatement remains undetected quite effectively. HIH Insurance Company had certain internal documents based on which the company could not conduct applicable processes intended to address problems associated with organizational performance of company (Betta 2016). Risks within business are the uncertainties related to financial report of HIH Insurance Company in which the firm declared to maintain its solvency, asked for premiums for the liquidity factors of the organization. This encompass number of distinct policies that considers presenting the record of marine insurance conducts that largely relates to insurance professions. 2 (a) Legal liability based problem is related with unqualified audit procedure which encompass audit risk which is improperly managed by HIH Insurance. Auditors of the company are observed to have inadequate awareness on inherent risk. This is considered as unrecognized modifications facilitated by HIH Insurance in the past years (Bobtcheff et al. 2016). Auditing report was analyzed effectively which explains the auditing practices brought into practice by HIH. The auditor was inefficient in exploring the auditing conducts of HIH insurance which it can incorporate within it other practices. These problems are deemed to be linked with insufficient auditors independence that is associated with the non-auditing task performance and observing the business conduct of HIH for additional business risk (James 2016). These conducts of the company are associated with several auditing techniques with anticipated auditing risk. The reports stays associated with the determination of management to address the existing legal concern. It is considered vital to indicate that HIH Insurance needs increasing attention on the liquidity position of the insurance company within which the liquidity position remains concerned with financial and operational activities of HIH Insurance (Margret and Hoque 2016). Such risks are found to be associated to pricing capability and outstanding claims of organizations. This is in accordance with the reservation practices in order to deal and work on decisions related with investments (Chen et al. 2016). As far as the clients are concerned, the focus is hugely on the performance of HIH Insurance Company that signifies inefficient planning of goodwill, postponed acquisition expenses and enhanced tax benefits. Based on the situation it can be said that if the consumers appoint former auditors, it could have an ill impact on the independence of peripheral auditing. It is clarified that such auditors continues to maintain superior partnership with the auditing members (May 2016). Conversely, it is evident that that there is a good association among former and the present auditors for they remain proficient to recognize and address the issues associated to parties that they have and have an influence on. 2 (b) Some of the conditions that have revealed the practice of negligence conduct of HIH insurance are found to be linked with the accelerations variations made within legislations (Chen et al. 2016). HIH Insurance Company makes it clear that it deals with high risk of related with pricing, unsuitable investments and inefficient policies that depleted the financial resources of the company. Corporate Governance- HIH Insurance Company faced the risk of bankruptcy, issues of agency cost from agency conflict arising from debtors and managers of insurance firm. The case study makes it clear that the aspects those lead to a companys bankruptcy encompass few agency cost problems generated from agency conflict taking place among proprietors, debtors and companys managers (Bobtcheff et al. 2016). A large part of the problems is dependent on the changes those are practiced with the direct liability framework of the improper risk governance had resulted in improper management. The legislative alterations implementations are linked with public liabilities and have a significant role for unproductive management (Bobtcheff et al. 2016). Information collected from the case study signifies that there is faulty risk management. This is due to the reason of failure in implementing effective management practices as well as regulations. The companys management avoided carrying out strateg y evaluation to make investment by accepting risk having several information sources. Non-availability of Information Source- HIH Insurance Company presented a situation where accounting systems has vital roles that intends to ensure improved use of commercial systems. For an insurance company, it does not seem to be suitable for the non-executive directors to gather vital data that will fulfill responsibilities of their director and for this reason, responsibilities non-executive directors of an organization needs being compromised. This is because there remain no alternatives other than depending on the generated and directed accounting systems regulated by the management (Emmerig and Legg 2016). Non-executive Directors Shortfall- The case study made it clear that non-executive directors must be asked certain questions related to risks those are justified. The company has to pay an amount of dollar 1.7 million to the auditing services of Anderson and dollar 1.631 million to the secretarial company of the individual (Emmerig and Legg 2016). Auditing facilities results out from external auditors and companys directors. Whether indirectly or straightforwardly corporate governance conducts of HIH Insurance Company are found being responsible for such negligence deeds. This also effectively signifies that certain guiding regulations or action takes place due to lack in independent management analysis. 3 (a) The construction of strong relationship with services provided by non-accounting entities led to refusal concerning increase of paid auditing facilities (Abdullah et al. 2016). HIH Company decided to employ internal auditors other than appointing external auditors for these reasons: Auditors observed to be familiar to the organization Auditors are supposed to have good experience in the areas of monetary and fiscal aspects. The management focuses on conducting audit work for in order to maintain a good relationship with its external auditors (Chen et al. 2016). Auditors of the organization should maintain the professional skepticism that facilitates implementation of an organizations managerial activities. This is because the auditors and management have incapability to manage their financial statement (Abdullah et al. 2016). 3 (b) Non-auditing facilities must be offered by the organizations those regularly conduct auditing works. Such specialized non-auditing supports encompass tax advantage advices and operational consultancy. Through such facilities, the company can ensure offering both auditing and non-auditing consumer services (Sirtes et al. 2016). The company intends to rely on handling consumer responses that is the major income source. Financial reports are maintained by the auditors, which will consider the financial situation analysis. This will focus on increasing profit objective of organizations. Such advantageous facilities support the alteration in some of the false statements (Sirtes et al. 2016). The reports should consider recognizing errors of a company for the reason it supports the auditors and consultant to sustain efficient consumer information management. Such facilities allow in addressing faults and offer the management report compilation. The measures on regulatory perspective happen s to be the efficient solution in order to ensure accuracy of the financial reports in which providing such services remains of great benefit for several accounting firms (Margret and Hoque 2016). 3 (c) Case study on HIH Insurance Company signifies that the members of that organization did not complete their duties with honesty, for the reason that they offered misleading or false data on a constant basis (Margret and Hoque 2016). A large proportion of staff of the company remained involved in unethical conducts where they were not able to accomplish their organizational duties in an efficient manner. With the failure of Enron, the circumstances further worsened and situations rose where fair dealing of work paper deductions was not observed in the company and several organizational staff was held guilty (Pearson 2016). Staff of organizations requires needs to involve themselves in complying with ethical duties of the company other than managing their clients. This ethical statement ensures to maintain regulations with codes and business standards those are applicable. Information disclosure applicable to the accounting standards will be encompasses in the statement (Pearson 2016). 3 (d) HIH Insurance Company considered governance and financial compliance practices under the amendment of CLERP 9: Engagement partner needs certain regulations in order to appraise staff including the senior management employees rotation on yearly basis (James 2016). The audit partners must be involved with the board of directors of the company that might take a long time to accept the auditing activities. Such recommendations have an objective to identify and address the issues related with business groups. Their aim is to improve the financial reporting and the audit functions in order to disclose the matters, which might affect independent auditing and additional disclosures of financial information (James 2016). Several suggestions focus on identifying responsibility by means of spreading widespread managerial functions needed to be performed by the organizational staff. Reference List Abdullah, N.S., Indulska, M. and Sadiq, S., 2016. Compliance management ontologya shared conceptualization for research and practice in compliance management.Information Systems Frontiers, pp.1-26. Adams, M.A., 2016. Contemporary case studies in corporate governance failures.Governance Directions,68(6), p.335. Betta, M., 2016. Three Case Studies: Australian HIH, American Enron, and Global Lehman Brothers. InEthicmentality-Ethics in Capitalist Economy, Business, and Society, 8(6), pp. 79-97. Bobtcheff, C., Chaney, T. and Gollier, C., 2016. 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