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AS and A Level: Structures, Objectives & External Influences

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  1. Merger review - BT and Infonet

    Therefore, Will this newly merged global communications company succeeds? Is there any maintain risk for this combination? Is it worth for BT to acquired Infonet with that amount of money or is it bringing lots benefits to both of the companies? The following content will discuss this in different aspects. Skepticism about the Deal First of all, neither of the companies has been successful at increasing their top line revenues. For BT, this acquisition happened just 3 years after took a massive hit from its loss-making joint venture with US group AT&T. The write-down of that joint venture, Concert, cost BT $1.8 billion.

    • Word count: 1413
  2. Business at work

    There are also benefits and constraints to being a shareholder. Some of the benefits of being a shareholder are that first of all there may be an increase in the share price which would be very beneficial as the shareholder will gain more capital. Another advantage of being a shareholder is that dividends are received to them by Sainsbury's. The dividend that is given to the customer by Sainsbury's is basically the shareholders share of the profits that Sainsbury would make and will be paid to the shareholder at six-monthly intervals (an interim dividend)

    • Word count: 1729
  3. Behavioural Theories of the firm

    In his approach, process of decision making is of critical importance. He argued that there is no single goal of the organization, instead there are multiple goals. According to Cyert & March, the firm can be thought as a coalition of various interest groups: different departments, different level of management, different groups of workers, suppliers and consumers, shareholders etc. The complex process of bargaining takes place between these various groups within the firm to determine their collective goals. Much of this depended on Herbert Simon's work in the 1950s concerning behaviour in situations of uncertainty, which argued that "people possess limited cognitive ability and so can exercise only 'bounded rationality' when making decisions in complex, uncertain situations."

    • Word count: 1875
  4. For my portfolio, I was asked to do an assignment on two businesses. I have chosen Tesco, which is a public limited company and Vectone Gnanam Telecom, a private limited company.

    The business previous names are Vectone Telecom Centres Limited and Gnanam Telecom Centre Limited. Vectone Gnanam liked to do their business at an international level because there is a larger profit outside the United Kingdom in addition they advertise their products through leaflets and they mostly receive payments in cash rather than credit. They have to pay before using the services in telephone cards like Vectone Gnanam Telecom while business like British Telecom they use to pay after the services Users can access Vectone services by the Internet or telephone services from their landline, mobile phone, PC or directly from a web site. Vectone Gnanam Telecom operates in around 60 countries around the world.

    • Word count: 12350
  5. Are dividends and share repurchases substitutes?

    If these sources were equal, that would mean strong evidence for firms viewing both as substitutes. A second subject to be scrutinized is why companies pay out in the first place. As anyone could achieve his own target-payout just through selling parts of his shares, there must be a reason for companies to pay out. The paper will investigate different theories as to why this happens and whether motives for payout are the same for dividends and share repurchases. Finally, the paper will study the perspective of investors and managers respectively. It will examine their perspectives of dividends or share repurchases.

    • Word count: 4756
  6. Explain the purpose of keeping accurate financial records.

    From the analysis of the financial documents a prediction can be made to see if , new recruitment is needed, making employees redundant, decreasing wages or increasing wages. * Directors- The directors will need to be informed of the financial situations as they will assess and make appropriate decisions as to where the strong and weak points lye. They will also conduct their affairs with the managers to try and improve the situation and in some circumstances ask questions of the managers' position, to see if they are doing their jobs properly and their decisions.

    • Word count: 7392
  7. Most firms are affected by a number of factors such as customers, employers, suppliers, creditors and local community which are known as stakeholder groups.

    Shareholders have massive of stock out of whole stock in the company. The shareholder concept is that managers should focus on their shareholder's benefits. This means that managers are responsible solely to the owners of company. Put simply, the managers of a business should create as much short-term wealth as possible for the shareholders. If the shareholders want to expand their business then managers should accomplish for their goal. Shareholders usually just want short-run profit rather than long-term interest. They usually simply want to increase the share values. Therefore, from this concept, the objective for managers running a business is profit maximisation.

    • Word count: 1388
  8. How does a business measure its success?

    The way that they will measure the success of the business may be through looking at the financial records of the business to see if they have a made a profit. They may look at productivity figures for the business and see if they have become more productive, and if they have become more productive then this will show them a sign of success and that they have achieved targets as they will have increased productivity and this will meant that they are more efficient and will have lower costs of running the business.

    • Word count: 746
  9. Investigate a medium to large organisation and to write a detailed report on my findings.

    1990s In the 1990s, the company built on its success by developing new store concepts and new customer-focused initiatives. In 1992, it opened the first Tesco Metro, a city centre store meeting the needs of high street shoppers and the local community. This was followed by Tesco Express. By 1995, Tesco had become the largest food retailer in the UK, and is now market leader with a market share of more than 17%. In 1996 Tesco launched customer assistants to make shopping even easier for customers. Ownership and Sector Tesco is a Public Limited, which falls in to the Private Sector.

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  10. Businesses choose the location for their business for many different reasons. Depending on the company, the reasons differ.

    This not only gives it national status, but also international status as well. This attracts customers from all over the world, which intern increases the amount of business and therefore increased profits. As we can see from the map of Cameron Balloons they are located close to some major road and rail links. They are also near some ports. These include: > The A38 > The A4 > Railway stations > Bristol international airport. All of these types of communications are vital for Cameron Balloons, because they are needed to transport goods, customers and workers to and from Cameron balloons.

    • Word count: 11405
  11. Evaluate the economic strengths and weaknesses of Japanese Keiretsu Groups.

    Even though banks are prohibited from holding more than 5% of the outstanding shares of any one company (10% in the event of financial distress), they are nevertheless very important, shareholders within a Keiretsu. Cross holdings of shares by member firms is another distinction of Keiretsu. Aoki (1986) argues cross-holding of shares effectively insulates member firms from hostile takeover. The Keiretsu are a key feature of the Japanese economy, directly or indirectly affecting economic transactions within and across the industry.

    • Word count: 1460
  12. To what extent is profit a good indicator of the success of an organisation

    In theory, the entrepreneur would be a profit maximiser. But in fact, profit maximisation is not, as has already been referred, the sole objective of every company. Many organisations do not seek to maximise profit. They are content to accept sufficient profits to enable the organisation to survive, pay the bills, provide enough to allow employees to be paid and leave the owner or owners an adequate income to allow them to enjoy the life-style they are happy with. According to The Business Environment by P.

    • Word count: 1310
  13. Fashion Designs Ltd - As an avowed expert on company law I am requested to advise the board of directors

    So this test helps to show this and it shows how much assets can be distributed. The directors have heard that a company must satisfy both realised profits test and the net assets test before it can pay a dividend to its shareholders - This statement is true to an extent but there are exceptions. A public company must meet both needs of the realised profits test and the net assets test before it can distribute its profits by dividends to its members. This can be seen in s.263 and s.264. A private company like Fashion Designs Ltd only needs to encounter the realised profits test only.

    • Word count: 1211
  14. Discuss the relationship between ownership and control in the modern corporation.

    Managers can have alternative objectives since they have control such as controlling their side of the business even if another side of the business were to slightly suffer. Also managers would have to worry more about staff and motivating them and enriching their jobs. It would be the managers' objectives, which would determine the behaviour of the firm, therefore implying that it is control that matters and not ownership. Control does play a large part in modern corporations and is important.

    • Word count: 915
  15. Does the existence of the principal-agent relationship within the firm contradict the assumption of profit maximisation?

    This specialised knowledge in turn will save the principal a great deal of time and effort. Because of the layers of hierarchy within a firm it is possible the principal may become increasingly separated from the running of the firm and out of touch with what is occurring at grass root level, this is known as a separation of ownership and control and hence will create a greater chance of a moral hazard arising. Because the principal is sitting right at the top enjoying the profits made by the firm, agents at the bottom end may be working on a very basic wage.

    • Word count: 1574
  16. US: The Coming Battle between Profits and Prices - "Pricing power is rising, but so are costs, and that will soon squeeze margins"

    On the other hand, but also affecting the input prices is the labor rises. Companies are facing higher bills for labor since the job market in U.S. is growing and is expected to increase during the following year. The consequence of the last mentioned situation is that there are tighter labor markets and higher payroll costs at a time where the productivity is slowing down. Therefore, in this kind of environment the companies have experienced shrinkage in their profit margins. The profit margins of the companies are now not sufficiently high to absorb the increasing and higher costs that they are facing due to external factors, such as labor markets and inflation.

    • Word count: 696
  17. Factory Direct Selling by Cironi's Sewing Center.

    Environment - The Akron market has been considered to be highly price-competitive and overstored for sewing machines. This is evident in the fact that Cironi carries brands such as Bernina, Pfaff, or Elna that allow Cironi to have a higher gross margin (40%) than his competitors. - Cironi's Sewing Center faces direct competition because the Swinger brand is carried by four Jo Ann Fabrics stores, Sears, Montgomery Wards, Zayre, and Best Products. - The Independent Sewing Machine Dealers Association (ISMDA) is seeking dealer support for a legal fund to pursue trial cases against those who use FDC practices because they represent an unfair method of competition and they rely on practices that are deceptive to the consumer.

    • Word count: 1256
  18. Corporate governance has a positive link to corporate performance.

    However, in the real world of imperfect information, each agent will use whatever informational advantage they may have. Looking at conventional firms, management will usually have an informational advantage over other stakeholders. With more and more questionable business practices appeared governments pretend to tighten the regulation around corporate governance further. In recent year the term "stakeholder" has been introduced into the language of business ethics. It sounds like going to replace the traditional term "stockholder" in dealing with questions of corporate responsibility (Marcoux, 2000). Shareholder theorists argue that managers should serve the interests of a firm's owners- shareholders.

    • Word count: 1879
  19. Ben & Jerry's needs resolution to the following issues: How did Ben & Jerry's become a takeover target? Should Morgan support a takeover?

    The average shareholder's return on equity is about 7%, far below the industry-required rate of return. The company's extremely generous charitable donations of 7.5% of pre-tax earnings and other social gains have had serious impacts on its profits. Ben & Jerry's has to find ways to create value for its shareholders. Takeover Offers The takeover offers that Ben & Jerry's currently has on the table are above its current share price of $21, indicating that the company is under valued.

    • Word count: 971
  20. Identify the independence factors, that you will need to consider in order to determine whether your firm can put itself forward to act as the first auditors of Gadget limited and the measure that may be taken to resolve any perceived conflicts.

    > -Investigative independence - this requires that no legitimate source of information to be closed to the auditor. This involves that the auditor has the freedom to examine information that the auditor thinks relevant. > Reporting independence - this means that the context of the report are related to the scope of the examination. Profession independence like the individual practitioner, the profession as a whole must avoid any appearance of lacking independence. Objectivity The Case Study By looking at the given scenario the following independence issues have arisen. 'Michelle Bond is the sister of Basil Bond, one of your co- partners in Earnest Peat & Co' Michelle Bond is a substantial shareholder in Gadget Limited, however she is not a director.

    • Word count: 2294
  21. Valuation and Investment Report- Beverage Industry

    It includes all the people and organizations which support the process. We will conduct Capital Market Ratio Analysis using the following: Price Earnings Ratio, Earnings Per Share, Dividend Yield, and common stock price. These indicate a company's ability to win the confidence of the stock market. The Coca-Cola Company (KO) The Coca-Cola Company, a large-cap growth company in the consumer non-durables sector, is expected to outperform the market over the next six months with very low risk. With 10 being the best rating possible by MSN MoneyCentral's StockScouter, The Coca-Cola Company scored 7, which relates to the stock being expected to perform in line with the market.

    • Word count: 3236
  22. Company law - Advise critically Alice Lau and Benson Cheung, with strategic proposal, how to structure the company and to accommodate the wishes of Alice's parents, Mark and themselves

    Therefore, it is not necessary to mention the sole proprietorship and partnership in this case as they are not applicable to issue shares. Limited Companies A limited company is a separate legal entity and should be registered under the Companies Ordinance. The liabilities of shareholders are limited to the registered share capital. According to the Companies Ordinance, a limited company is required to prepare audited accounts. There is no statutory minimum capital requirement in Hong Kong. In practice, the authorized capital would be HK$10,000 and the issued share capital could be as low as HK$2.

    • Word count: 2654
  23. What Really Determine the Payment Methodsin M&A Deals.

    Among these, the financing methods chosen in M&A deals have been identified as being of practical importance. According to these theories of financing acquisitions, quite a number of propositions, which are viewed as payment method dependent, have been advanced and tested in the previous literature. Asymmetric Information Proposition A framework based on the existence of asymmetric information is developed and used to interpret financing alternatives in M&A by Myers and Majluf (1984). The Asymmetric Information Theory says that there exists asymmetric information between the management and market participants.

    • Word count: 9187
  24. In an organization Synergy becomes very important. Take an organization of your choice and bring out the importance of synergy in making the organization more productive.

    resources. Ansoff (1965, p. 80) describes four types of synergy: 1. Sales synergy, which occurs when different products use common distribution channels, common sales administration, or common warehousing. 2. Operating synergy, which includes higher utilization of facilities and personnel, spreading of overhead, advantages of common learning curves, and large-lot purchasing. 3. Investment synergy is the result of joint use of plant, common raw materials inventories, transfer of R&D from one product to another, common tooling and machinery. 4. Managerial synergy is possible when a new business venture faces strategic, organizational or operating problems, which are similar to problems that the management has dealt with in the past.

    • Word count: 816
  25. Calsonic Corporation Plc - company overview

    ? Directors must report back to shareholders at the annual general meeting (AGM) where unpopular decisions and poor results must be explained. Although Llanelli Radiators is part of the Plc Calsonic Corporation, Llanelli Radiators is actually run under a Ltd ownership, which is where they cannot offer their shares to the public, this is because they are owned by the larger Calsonic corporation in Japan. LTD's tend to be smaller organisations although many have substantially more share capital than some of the smaller Plc's. Calsonic Llanelli Radiators find it very helpful being owned by a large, more mature organisation n Japan, this way the two organisations can share ideas learn from each other and Japan can fund Llanelli with new projects and features.

    • Word count: 6324

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