Challenges and Best Practices in Corporate Governance

Former Finance Secretary Jesus Estanislao once compared good corporate governance as keeping one’s house in order. Most people want well-run households, one that keeps a lid on expenses while keeping things neat and clean and takes care of the various needs of family members. In the business setting, a clean house is more attractive to prospective investors. Good corporate governance promotes transparency, accountability and responsibility. Corporate governance is not just about ethical conduct or being transparent and fair to stakeholders, it is also a means to improve a company’s performance, competitiveness and sustainability. In the Philippines, compliance with corporate governance codes is still relatively low. It is probably an offshoot of the way most Asian economies do business, which is largely personal and based on connections—whether by family, affinity or friends. In addition, the adoption of good corporate governance practices is a function of a firm’s financial performance. In Singapore for example, a relatively developed economy, a recent report showed a widening gap between companies with strong and weak corporate governance policies. But it is when crisis occurs when the defects in corporate governance are seen. Learning curves for the adoption of scorecards and best practices for corporate governance are a tad high, and maybe difficult for several companies to implement. Dr. Estanislao once said that his advocacy for companies in the Philippines to adopt good corporate governance standards is a slow burn. But someone has to do it, and progress must start as soon as possible so it can also blossom faster.

buy custom Macro Factors essay

buy custom Macro Factors essay Corruption is one macro factor affecting foreign investment in tourism. Government officials engage in corruption acts especially when it comes to licensing a company kick-off its operations. During taxation, some companies also bribe officials to pay less tax. There is also a tendency of misappropriation of funds obtained from the industry. Locals end up not benefiting from these operations hence negative attitudes towards it. Government policies such as taxation are risk factors as they impose heavy taxes on the companies. This factor drives away most companies due to unfavorable investments environment. The locals end up not benefitting as opposed to when the taxes were low hence attracting investment (Cunliffe, 2). Additionally Cuba is an environment where there is high government control over private businesses. This keeps of most foreign investment or denies them freedom to operate in manner that they want. Mitigation measures Reducing taxation burden on foreign investors Reducing bureaucratic measures Arresting all corrupt officials within. Diversification of operations of tourism. Buy custom Macro Factors essay

How to Determine the Equation of a Line

How to Determine the Equation of a Line There are many instances in science and math in which you will need to determine the equation of a line. In chemistry, youll use linear equations in gas calculations, when analyzing rates of reaction, and when performing Beers Law calculations. Here are a quick overview and example of how to determine the equation of a line from (x,y) data. There are different forms of the equation of a line, including the standard form, point-slope form, and slope-line intercept form. If you are asked to find the equation of a line and are not told which form to use, the point-slope or slope-intercept forms are both acceptable options. Standard Form of the Equation of a Line One of the most common ways to write the equation of a line is: Ax By C where A, B, and C are real numbers Slope-Intercept Form of the Equation of a Line A linear equation or equation of a line has the following form: y mx b m: slope of the line; m Δx/Δy b: y-intercept, which is where the line crosses the y-axis; b yi  - mxi The y-intercept is written as the point  (0,b). Determine the Equation of a Line Determine the equation of a line using the following (x,y) data. (-2,-2), (-1,1), (0,4), (1,7), (2,10), (3,13) First calculate the slope m, which is the change in y divided by the change in x: y Δy/Δx y [13 - (-2)]/[3 - (-2)] y 15/5 y 3 Next calculate the y-intercept: b yi  - mxi b (-2) - 3*(-2) b -2 6 b 4 The equation of the line is y mx b y 3x 4 Point-Slope Form of the Equation of a Line In the point-slope form, the equation of a line has slope m and passes through the point (x1, y1). The equation is given using: y - y1 m(x - x1) where m is the slope of the line and (x1, y1) is the given point Determine the Equation of a Line Find the equation of a line passing through points (-3, 5) and (2, 8). First determine the slope of the line. Use the formula: m (y2 - y1) / (x2 - x1)m (8 - 5) / (2 - (-3))m (8 - 5) / (2 3)m 3/5 Next use the point-slope formula. Do this by choosing one of the points, (x1, y1) and putting this point and the slope into the formula. y - y1 m (x - x1)y - 5 3/5 (x - (-3))y - 5 3/5 (x 3)y - 5 (3/5)(x 3) Now you have the equation in point-slope form. You could proceed to write the equation in slope-intercept form if you wish to see the y-intercept. y - 5 (3/5)(x 3)y - 5 (3/5)x 9/5y (3/5)x 9/5 5y (3/5)x 9/5 25/5y (3/5)x 34/5 Find the y-intercept by setting x0 in the equation of the line. The y-intercept is at the point (0, 34/5).

The ressesion in the fashion industry Essay Example | Topics and Well Written Essays - 2000 words

The ressesion in the fashion industry - Essay Example The fashion industry together with other textile products industry has undergone a downturn due to the financial adversity (Global Recession Impacts on Fashion Industry 2009). Fashion is a complicated business with no standard to define the companies in the industry. Fashion companies belong to a broad of range of firms that produces apparel, footwear, textile accessories and home furnishings. The industry is formed of diverse professionals and firms that include fashion designing, modeling, marketing, retailing, planning and distribution. Fashion includes brands and local sellers to whom the recession has brought in a struggle to sell the products for survival. The impact is felt among the various members of the fashion industry in a different manner and the similarity among the members is their poor financial status. The lavish spending attitude of consumers is now replaced by a cautious closefisted consumer behavior due to the global trend of increasing unemployment, plunging home budgets and the credit squeeze. Some of the few items consumers cut back during financial crisis is fashion accessories and apparels. This has led several fashion companies to contact credit problems. Various companies around the world have already filed for bankruptcy. Even big labels in the fashion industry are faced with financial problem and have declared their negative financial trend. Some companies have gone to the extent of expecting a take over or are negotiating a partnership deal with consenting investors for financial support. Many innovative plans and events are being cancelled and the plans to cut down jobs in regional offices are more of regular news. Fashion labels in fashion cities in the Italy have held discussions with the government to appeal for support and reduce the burden of the financial downturn. Fashion houses are hesitating to show the collection for various seasons in 2009 since the shows are expensive without any guarantee of returns. The

Why might firms with exposure to foreign markets use foreign currency Coursework

Why might firms with exposure to foreign markets use foreign currency derivatives - Coursework Example A derivative is defined as ‘an instrument whose price is derived from, or depends on, the price of another asset’ (Hull 2009:779). When a company receives foreign currency against supply of services or goods to a foreign based importer, it acknowledges some kind of foreign exchange risk, since there is a possibility of fluctuation between currencies of both exporter and importer from the time of entering into the contract and receipt of funds from the foreign importer. Thus, in case of companies with substantial export earnings, it should assess the quantum of its forex exposure, create a road map for how to minimise that risk, to employ hedging strategies to minimise any substantial loss that may be encountered due to future forex fluctuations in the currencies where it is likely to receive from its foreign importers. (Bragg 2010: 207). For instance, if a company has quoted its export values in US$ and during the interval period where a foreign importer is under obligat ion to pay the exporter, if the dollar appreciates against the exporter’s currency, then the importer might be paying with a decreased –value currency, which creates the company to account for a foreign exchange loss at the time of receipt of funds. (Bragg 2010: 208). As per Froot, Scharstein and Stein (1993), if the level of capital investment of a company is high, the chance for employing forex derivatives in its risk management policy is always on the increase. (Froot, Scharstein and Stein 1993:1631). ... ers of the international companies opt these derivatives so as to take the positions in the anticipation of revenues (speculation) or employment of these instruments to minimise the risk inherent with day to day management of their company’s cashflow hedging).( Aswathappa 2010 :543). The probable advantages from employing forex derivatives are reliant on the anticipated exchange rate movements. Thus, it is essential to comprehend why the exchange rate moves over time before employing the forex derivatives for risk coverage. Different Kinds of Forex Derivatives Forex Forwards: Forward is comprised of spot transactions that have been retained for less than 180 days but held over 48 hours when they due for payment and paid at the current prevailing spot price. If you minus the bid price with that of ask price, then you can arrive at the transaction cost. Forex swaps are financial transactions associated with the swapping of two currency amounts on a particular date and a reverse exchange of the analogues' amount at an afterward date. The main objective is to administer currency risks and liquidity by executing forex transactions at the most apt time. In fact, the underlying currency is borrowed and lent concurrently in both currencies, for instance, by selling Euro for US$ for spot value and consenting to reverse the deal at an afterdate. (Brickford& Brickford 2007:7) Forex Futures: A future can be illustrated as a standardised contract to sell or buy a particular asset at a price previously consented to and at a fixed future date. Forex futures are standardised financial instruments that are negotiated in organised markets. Forex futures have many probable benefits but also have many probable risks. Forex futures markets are not only heavily regulated but also

Final research paper. ( packaging) Paper Example | Topics and Well Written Essays - 2000 words

Final . ( packaging) - Research Paper Example The idea of packaging is fundamentally defined as an amalgamation of science, technology and art that is mainly executed for protecting the various products during the phase of distribution, sales and storage. Its ultimate target is to diminish various ecological wastes along with preserving major environmental resources by utilizing the diverse constituents of packaging such as the factors of reusing, recycling and reducing. All these significant elements of packaging generally work together for the intention of reducing along with preserving various ecological wastes and resources respectively (Levy, 2000). The paper broadly aims towards a clear and deeper understanding regarding one of the sustainable environmental issues related to packaging along with the several disadvantages that it poses to the environment as well as business organizations. Furthermore, the aspect of innovation in environmental aspect of packaging will also be portrayed in the discussion. The factor of packaging imposes adverse effects upon the environment through number of significant reasons. The most important fact is that it is generally not biodegradable and as a result it contributes largely towards releasing greenhouse gases that eventually leads towards causing global warming. It has been observed that every product along with the production system and packaging possess certain unfavorable consequences upon the environment. It generally exhausts the natural resources and contributes largely upon creating significant quantity of wastes (Marsh & Bugusu, 2007). In this connection, for the purpose of defending the environment, it is very much essential to look into the matter that the wastes are kept at a minimum level during designing as well as packaging the products. Moreover, it is also very much necessary to recycle and to make best possible use of the waste materials that might help in money saving along with safeguarding the environment by a

History Of Dress Code Cultural Studies Essay

History Of Dress Code Cultural Studies Essay The UAE is the fast changing counties across the world. The UAE has dress code based on respect for the culture and religion. As globalization increases the UAE has been addressing its apparels more than ever. UAE dress code is based on the traditional cultural ethics. The UAE have varying degrees of forbearance to clothing styles from around the world. There are some legal guidelines for which dress code is acceptable perhaps in todays globalized world restrictions for clothing has been removed to some extent. Western expatriates, visitors and tourist have strong influenced the dress codes in the UAE, had diversified the clothing styles of people rather than conventionally dress code. Traditional clothing in UAE for men is a white Kandura (Dishdasha) and Black abaya for women (Dress code in Dubai, Abu Dhabi, UAE). Dress code plays an important role to understanding the customs and traditions of the country. The roots of culture prevails the religion of Islam which is more than belief. It considered as the aesthetic part of the living as per the cultural values and customs. The UAE apparels represent the importance of culture and tradition. Dubai is more advanced than the Abu Dhabi and other emirates. The provision for the dress code has been inspired by the real life story of Asma al-Muhairi has become worried about the increasingly number of foreigners and western attire. She often saw the inappropriate attire of the foreigners which distract the cultural values of the UAE. These incidents inspire her to take action regarding the apparels and enforcing the law against the western culture. History of Dress code: The UAE Federal National Council (FNC) has been set up for the law on the dress code in the Emirates to ensure and respect the customs and sensibilities. Residents and tourists should implement the dress modestly conveying the cultural values. The campaign appealed to set the dress code by proposing the federal law enforcing the dress code against the inappropriate dress code in the UAE. The agenda behind the implementing the dress code is to aware the residents and localities supporting to the Muslim culture and foreigners should respect the traditions and culture of the country. This law strengthens the nations atmosphere of tolerance. The campaign not only lies the clothing also stated the fearing the loss of the regional, social and cultural values due to the immigrants of other countries across the world. They stated that resident have to respect their local culture for transit the values to the next generation of Emirates. The UAE dress code has initiated by the two emirates women- Hanan Al Rayes and Asma AL Muhairi started the campaign at the prospect of foreigners dress in appropriate apparel. This campaign started in the Gulf countries of UAE and Qatar intended to spread awareness in the emigrant communities for appropriate dressing attire opposes to the western culture and supports to the Islam culture on apparels. The campaign aims to educating the people rather than the enforceable by law. The Qatari campaign initiated by the Najla Al Mahmud (Dress code in Dubai, Abu Dhabi, UAE). Importance of the dress code in the UAE: The UAE residents and expatriates need to implement the law of dress code in the context of conventional beliefs. The application of dress code in the country has strong influence on the people to transit the cultural values and Muslim religion. There are significant role of the code of dress code are as follows- Dress code represents the Ethical and cultural orientation. To maintain the discipline at the workplace. Helps to understand the conventional beliefs and values. The dress code is a matter of respect for the residents. Source: http://www.themuslimtimes.org/wp-content/uploads/2012/05/UAE-Dress-Code.jpg The UAE can be resembled its dress code to represent the country in disciplined manner, to make significant as per the cultural prospective. The dress code in the country that outlines the local traditions and supported the federal law by effectively enforce the law for tourist and residents against the wearing the non ethical attire. Some examples of dress code are as follows- Work place dress code- At the work place means are expected to wear the attire a smart shirt with trousers with a neck tie. Suits are suitable for the professionals of high profile. While women expected to wear knee length skirts or full length trousers and shirts with sleeves covers the upper arms should be dressed conventionally in moderate fashion to gain the attention at their respective workplace. An appropriate dress code in Muslim country is an important aspect and recommended to dress conservatively. In Bahrain men restricted to wear shirts and for women tops without sleeves are restricted (Ameri, 2012). Dubai male dishdasha Source: (Dress Code and Conduct in Dubai) Traditional dress code- Traditional clothing for the men is white Kandura (Dishdasha) and black abaya for the women. Different colors also accepted in Oman. https://encrypted-tbn2.gstatic.com/images?q=tbn:ANd9GcSJ_KMXLWF_6MP-fLWnayy6YjziP39zp3Dv-xr9uc9FRez5DOPy Source: (Kipp Report) Dress code during the Ramadan- During the Ramadan men and women should wear the clothes covers knees and shoulders. The attire should be dressed respectful in the context of the cultural values. Dress code benefited for the people: The proper dress code resembled UAE diverse form other countries across the world and represent the country in disciplined manner. The dress code transits the conventional and cultural values for next generation. The aims of applying the dress code to aware the people with traditions and cultural values. If the dress code will be followed by the residents at the workplace in appropriate manner as per the professional prospective such as board meetings and professional tours of the company. Same attire will reflect the higher professionalism in disciplined manner. Opinions of people and Recommendation with respect of dress code: The UAE dress code has attracted several peoples in the supports the idea to implement the dress code. Some followers support the ideas and stated that dress code is the matter of respect to attire adequately in the UAE. Some followers state the religious prospective to expatriates to respect the culture of Islamic country in UAE. Some focused on the changing the traditions in the UAE asserting themselves not wearing the traditional dress code anymore. Some social media users against the restrictions and expatriate community. Recommendation: Adoption of the new laws makes facilitating the effective solution as per the diversified cultures in the country. Freedom of expression is an important aspect and freedom should also be given to the people not strictly enforced by the law. Conclusion: The dress code in the UAE has demonstrated the cultural values and beliefs in the UAE. The code of ethics in the context of the dress code ensures the tourist to adhere the local rules and regulations in respect of the regional values but the globalized scenario has been changing the traditional and conventional beliefs in Middle East in Dubai and Abu Dhabi. Though as per the analysis it can be concluded that the dress code implementation has strong influence against the increasing western culture and supports to the cultural values and traditions.