Capitalism And The Global North And South - 2871 Words

The interdisciplinary nature of Rethinking Capitalism has demonstrated that a seemingly simple subject, such as capitalism, is very complex due to both its ubiquitous nature and a multitude of affects that transcend multiple disciplines. On the one hand, capitalism is an economic system that is rooted in the creation and exchange of commodities. On the other hand, capitalism is also a legal system that protects commerce and enforces private property laws. Yet, capitalism can also be defined by its historical record of uneven economic development between the Global North and South. And still others may wish to view capitalism through a purely financial lens, in light of the recent Great Recession. Neither of these views are particularly right, nor are they particularly wrong, as capitalism is both all of these things and none of these things at the same. Moreover, the effects of capitalism across these different subject matters are also open to interpretation, making it even mor e difficult to assign meaning to this subject. President John F. Kennedy’s aphorism of â€Å"a rising tide lifts all boats† demonstrates that capitalism brings positive economic outcomes to everyone, while Karl Marx’s Capital painstakingly details its deleterious effects upon the laboring classes. While the nature of the debate on defining capitalism is beyond the scope of this paper, it is worth mentioning, albeit briefly, in order to both clarify and properly situate its central thesis; thatShow MoreRelatedThe Implication Of Free Markets On Global Business1519 Words   |  7 PagesThe implication of free markets on global business Introduction Capitalism, socialism, and communism are the main three economic systems. â€Å"Capitalism is an economic system also known as the private enterprise or free market system based on private ownership, economic freedom, and fair competition† (Kelly and Williams pp. 26) Capitalism can be referred to as free markets where there is no government intervention or strict regulations. 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Some nations are prospering greatly while others countries are still struggling to achieve, economic, political, and social stability. The book Why Nations Fail: The Origins of Power, Prosperity and Poverty by Daron Acemoglu and JamesRead MoreWall Street : A Symbol Of Economic Oppression And Racial Inequality1123 Words   |  5 PagesAfricans inferior and white Europeans superior-an ideology that still exists†(Hudson, 2012). Slavery was said to be the driving force of the economy in the first half of the 19th century. The South, and the white man, was very economically important to the nation. It made us a big player in the global economy. Look at the cotton trade that took place. Savannah played a large part in the cotton industry/trade. Do you think slavery and cotton are discussed on the tours of Savannah that are givenRead MoreEssay The Power of Ideology1484 Words   |  6 Pagesdamage. Conflicting ideologies of Communism and Capitalism were set aside in World War II when the Russians and the Americans united as allies to face Nazi Germany as the common enemy. With the defe at of Germany, Russia and the United States emerged as the two competing superpowers. These victors had the power to decide the fate of the world. The Communist Soviet Union had a world to win while Americans opposed this horrific design and favored Capitalism. This ideological conflict developed tensionsRead MoreInequality Is The Inevitable Outcome Of Capitalism Essay970 Words   |  4 PagesInequality is the inevitable outcome of capitalism. It provides incentive for those who own the modes of production, the capitalists, to invest back into the system as well as for those who sell their labours to work productively. However, this system does many times only benefit the capitalists, while leaving a large portion of the population insecure. To attend to these insecurities and minimize the level of inequality, states implement policies and programs that provide their citizens safety nets

Marketing and Tweeter - 1390 Words

Case Analysis Tweeter etc. Company Overview Tweeter etc. was founded in 1972 by Sandy Bloomberg in Boston to sell high-end stereo components. The current portfolio of the company consists of brand stereos, television, car radios and car phones. Tweeter has recently witnessed a healthy growth in its financial performance. Sale has almost doubled in the last three years reaching $82.3 million in FY 1996. Its sales per store has increased by 50% and number of stores increased to 21 from 14 during the same period. The Making and Current Scenario During its formative years, Tweeter gained the reputation of being the retailer of high quality, high-end audio components and video equipment. They had a knowledge able sales force providing†¦show more content†¦The starting price for its products as communicated to the consumers by ads was well above the other retailers. Thus, consumers being price sensitive thought of Tweeter as the store selling high priced goods. Even though the middle and high end stuff are sold at around the same prices as in all stores. The lack of awareness along with the price advertising has made the Tweeter appear more costly and specialized for high end customers and thus driving consumers away. As can be justified Tweeter’s 70% sales was due to Quality/Service customers which look for high levels of product quality and customer service due to its image. As can be seen from the survey, the awareness level of people about APP was very low. Only 32% of the respondents could define it. Only 22.1% of the respondents knew that Tweeter offered the APP service. Concern 4: Is Tweeter targeting the right customer sector and should it continue with APP? The price bitter and the quality/service customers together account for 90% of Tweeter customers. It lacks behind in Entry level and convenience customers. This can be attributed to the various misconceptions about the store in the market such as Tweeter stocks high end goods only. This has led to Tweeter running in losses during early 1990’s. Though, it has shown some improvement after that due to the inclusion of APP. Concern 5: Is Tweeter actually price competitive among its competitors Tweeter is priceShow MoreRelatedTweeter Case Study1159 Words   |  5 Pagesï » ¿Tweeter Case Questions 1. Objectively and subjectively, is Tweeter price competitive? Why or why not? Tweeter is an electronics store that pride itself on selling middle and high end goods. To see if they were price competitive, we would have to evaluate them with similar stores like Cambridge sounds waves as opposed to Walmart. Before APP in 1993, it would not have been possible to evaluate Tweeter’s price competitiveness since there was no systematic benchmarking present. However withRead MoreTweeter Case Study1296 Words   |  6 Pages------------------------------------------------- Purpose: Tweeter etc. founded by CEO Sandy Bloomberg in 1972, is a specialty retail store of middle and high end audio and video consumer electronics. Between the years 1991 to 1996, it expanded from a 13-store chain with $ 35 million annual sales to a 21-store chain with $ 82 million in annual sales. To sustain its market share amongst the highly price-focused competitors of New England in USA, the company had adopted 3 major promotional strategiesRead MoreCase Study : Automatic Price Protection Introduced By Tweeter1145 Words   |  5 PagesAutomatic Price Protection introduced by Tweeter will be a successful strategy to keep the electronic store able to compete in intense competition of electronic store. The trends of APP refunds are increasing every period until it reached cumulatively $783,863 in December 1995. Tweeter market share is considered very low in New England Market. Tweeter was not able to compete with market that has bigger market share and offer cheaper price. †¢ Causes that lead Tweeter to implement APP will be discussed,Read MoreNew England Consumer Electronics Market1056 Words   |  5 PagesTweeter etc. is a small, upscale New England retailer of consumer electronics that was founded by Sandy Bloomberg in 1972. During that time, there were two major retailers in Boston, Tech Hi-fi and Lechmere. To avoid direct confrontation, Bloomberg focused on the student market and emphasize a lot more on sophisticated tastes for higher quality stereo components. As time pass by, Tweeter build up their reputation and the public consider the company as a retailer of â€Å"high quality, high-end audio componentsRead MoreTweeter Case1798 Words   |  8 PagesQUESTIONS: Should Tweeter continue with its Automatic Price Protection (APP) policy along with Every-day Fair Pricing (EDFP)? Tweeter should continue with its current Marketing strategy based on APP policy and Every-day Fair pricing. Their target customer is the Quality/Service oriented and they should focus on retaining their loyalty. The shift from having continuous Sales Events to fair pricing and price protection has been proven successful as same store sales have increased, new stores haveRead MoreCustomer Service : An Important Part Of Business1124 Words   |  5 Pagesquestions from prospective customers. Social media customer service grows fasted and strongest in customer service department. The strategy is not only answer questions and complaining from customers by using social media network; such as Facebook, Tweeter, Youtube, Blog, but also to create a strong faster connection between organisation and customers. According to the recent Social Media Customer Service Report conducted by TNS, surveyed more than 1,000 UK consumers and found that 57% of consumersRead MoreTweeter Etc。5564 Words   |  23 PagesBloomberg, founder and CEO of Tweeter etc., reflected on the recent history of his small, upscale New England retailer of consumer electronics. Tweeter had grown from a 13-store chain with $35 million in annual sales in 1991 to a 21-store chain with $82 million in annual sales in 1996. Bloomberg had always attributed part of this growth to Tweeter s Automatic Price Protection policy, which had been implemented in 1993. Under Automatic Price Protection (APP), Tweeter monitored local newspaper adsRead MoreFreedom and Constraints in Social Media Essay1587 Words   |  7 Pagesis to facilitate and promote social interaction, often we see the obsession of personal image worsen and consume the user because of how many so-called â€Å"Friends† they have or how many â€Å"Likes† their status updates receives (Kramer, V3 Integrated Marketing). Both are irrelevant towards modern issues and crises. Thus Facebook hinders the user’s ability to elaborate and reason with analytical topics. Image/videos boards and blogging sites (e.g. Youtube.com, 4chan.org, Blogger.com) however allow forRead MoreSocial Media And Marketing Strategy1401 Words   |  6 Pages Social Media and Marketing Manal Musallam â€Æ' Social media and Marketing Introduction According to state of inbound marketing in the year 2012 62% of marketers said social media became more important to the marketing campaigns in the last 6 months. Apparently businesses had moved on to the next big step of marketing their products and services to consumers or other businesses. Marketing using social media as a tool to reach out to millions of consumers and businesses had enhancedRead MoreEssay on Twitter Strength of Weak Ties4871 Words   |  20 Pagestheir list of connections and those made by others within the system. Aided by the proliferation of laptops, erosion of the traditional concept of office hours and working from home, these SNS’s are having a major impact on business networking, marketing, human resources, customer relations and even employee motivation and loyalty! [ (MessageLabs, 2007) ] A review of existing academic research suggests that since the advent of SNS’s, majority of the research is focused on defining what SNS’s are

Hku Application Essay free essay sample

In other words, I learned a lot about how to work for and with people. One achievement of my work in the program worthy of mention is this. By creating a new context, I have transformed the authentic story â€Å"The Pied Piper† into a whole new version. And it got the third place prize in a contest at my school. I am born with a venturing spirit. I like to sky the limit, crossing academic boundary. I believe that only by breaking boxes can one get something surprisingly good. I believe I am the right kind of student for HKU. Why HKU? When I was a high school student, I had attained a boy scout camp for boy scouts from Taiwan and Hong Kong. The experience of interacting with the students from Hong Kong was fascinating. They were quite passionate, open-minded and friendly. I believe that there are two reasons for that kind of personality. We will write a custom essay sample on Hku Application Essay or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The first is about location. For a very long time, Hong Kong has resided, culturally and geographically, in the intersection among Mainland China, South-Eastern Asia, and, in fact, the rest of the world. It is a truly and highly internationalized city. With the good location, come excellent people. For the matter at hand, Hong Kong has attracted many excellent teachers and students from all over the world. The rich and diversity of the learning environment, no doubt, contributes to the open-mindness of its students. For the same reasons, more and more excellent foreign students try to study in Hong Kong. As a result, more and more talented people from all over the world gather in Hong Kong, and, thereby, the richness and diversity of the learning environment of Hong Kong is nearly second to none. You may say that Asia is the heart of the future world, and Hong Kong is the heart of Asia, and HKU is the heart of Hong Kong. I find no good reason not to study in the heart of it all. My Academic Interests I am especially interested in International Business and Global Management. It is partly because of a lesson my father teaches me and partly because of my interests in marketing. My father has been running a cram school since I was a child. In my childhood, when my father brought me to his workplace, I had lots of chances watching him communicating with his employees and handling problems of operating a group. While envying Dad’s good managing ability, I also wondered how he could get along with various kinds of people. As I grow up and become mature, I get the two key points of Dad’s successful management. They are â€Å"effective communication† and â€Å"practice what you preach†. These two concepts really impact me a lot. It not only teaches me that the management should firstly be done on myself before asking someone to do better, but also inspires my passion to explore the methods of communicating and managing. Last summer, I joined a summer camp held by Department of Business Administration, NTU. During the five-day camp, I really learned a lot about the business administration, and my favorite part was â€Å"marketing†. In the camp, there was an â€Å"achievements publication† on the last day. Every team should public their marketing strategy and perform an advertising drama for a particular product. Through the teams’ displaying, I saw plenty of innovative marketing strategy and campaign, and all of these ideas let me realize that â€Å"marketing† is my interest. Because of the internationalized environment in Hong Kong and the great education offered by the HKU, I think BBA(IBGM) of HKU is a fantastic place where I can learn more in the fields of marketing and management area. That I am who I am has a lot to do with the way my parents educate me. They for sure have a high expectation on me, but they make space for me so that I myself can find out my true interests and the way to my dreams. Their liberal education makes me an innovative person. And also thanks to them, I have abundant experiences of traveling abroad and reading nice books at a merely eighteen yeas old. In addition to my home education, my experiences in HSNU, my senior high school, also have a great impact on me. HSNU is one of the best high schools on academic performance in Taiwan, and it’s also famous for the affluent club activities. Studying in such a competitive and enthusiastic school, I once tried hard to strike a balance between schoolwork and extra-curricular activities, and it was never an easy job.

Corporate governance consequences of accounting

Question: Discuss about the Corporate governance consequences of accounting. Answer: Three main items are present in the statement of financial position of the organisations, out of which equity is significant. Autosports Group Limited is not an exception from this rule. In compliance with the balance sheet statement of the organisation in 2017, three main items are listed in equity section, which include issued capital, share-based payments reserve and retained profits. Issued capital is the equity of the business organisations (Atanasov and Black 2016). The firms utilise in raising a part of capital needed for their businesses. The issued capital is calculated by multiplying the par value of the shares with the number of outstanding shares. The annual report of the organisation states that the issued capital has fallen from $478,500,000 in 2016 to $475,637,000 in 2017 (Investors.autosportsgroup.com.au 2018). The main items falling under issued capital comprise of issuance of ordinary shares, cost of issuance of shares and income tax associated with issuance of shares. The next item in the equity of Autosports Group Limited is reserves. According to the financial accounting concept, reserve is taken into account as a part of the equity of the firm. This is adjudged in the form of additional amount except for primary share capital. The recent annual report of Autosports Group Limited states that it has issued shares-based payments reserve in 2017, which is valued at $392,000; however, no such reserves are there in 2016. In addition, the latest annual report of Autosports Group Limited states that it has positive retained profits amounting to $12,198,000; however, it has experienced retained losses in 2016 amounting to ($101,000). Hence, it could be said that the organisation has made more profits than losses. The constituents involved in the retained profits of Autosports Group Limited are net income available to the shareholders, dividends paid or provided and effect of restatement (Schaltegger, Etxeberria and Ortas 2017). Thus, all the above-described constituents are the main equity items in the organisation. In the global firms, various forms of expenses could be seen and they are selling expenses, administrative expenses and other expenses. Out of these expenses, tax expense could be considered as one of them. Moreover, tax expense is taken into account in the form of main liabilities of the companies owing to the state, federal and municipal governments of the nation (Damodaran 2016). The tax expense is computed through multiplication of the suitable business tax with the income before taxes after some main items are factored such as tax assets, non-deductible items and tax liabilities. Autosports Group Limited is not exempted from this, since it incurs tax expenses as well. Based on the recent annual report of the organisation, the income tax expense has been $6,035,000 in 2017, which was $8,000,000 million in 2016. Based on the rules of the taxation law of Australia, the corporate tax rate is 30% (Gitman, Juchau and Flanagan 2015). According to this tax rate, the overall tax expenses for Autosports Group Limited would be $5,526,900 in 2017, which was $101,400,000 in 2016. This is the major tax expense of the firm for the years 2016 and 2017. It could be identified that the overall tax expenses of the organisation have fallen in 2017 due to decline in income for the organisation in that year. Based on the above discussion, it could be stated that Autosports Group Limited has recorded total tax expense of $6,035,000 in 2017, which was $8,000,000 in 2016. On the other hand, if the tax rate is followed, the overall tax expenses for Autosports Group Limited would be $5,526,900 in 2017, which was $101,400,000 in 2016. Hence, a clear variation in the tax expense of the organisation could be observed. For Autosports Group Limited, there are some particular reasons for the variations in tax expenses despite of having the identical tax rate of 30%. However, few specified items are included or not taken into account in the preliminary overall tax expenditures. The initial item is non-deductible expense in order to ascertain taxable profits (Cheng, Ioannou and Serafeim 2014). However, few expenses in the organisation need not be subtracted from its overall income. Due to this, $638,000 and $879,000 are included in 2016 and 2017 respectively. The next item includes the use of various tax rates for the subsidiaries of the organisation. In Australia, the rate of tax is 30%, while in case of USA and New Zealand, the tax rates are 34% and 28% respectively (Graetz and Warren Jr 2014). Because of such variation in the rate of tax, certain amount is subtracted from the actual tax expenses of the organisation. The next item includes the availability of deferred tax assets. With the help of deferred tax assets, tax advantages could be sought (Agrawal and Cooper 2017). For this reason, $3,897,000 has been deducted from the tax expense of Autosports Group Limited in 2017. Some other items need to be included as well with the tax expense of the organisation. The final item is the availability of non-assessable incomes. There are certain incomes, which do not need to be evaluated in accordance with taxation. Hence, an inclusion of $1,547,000 is made with the overall tax expenses. In the words of Richardson, Taylor and Lanis (2015), deferred tax assets and liabilities are the major concepts that are associated with the tax operation of the organizations. The situation, in which the organisations make prepaid tax on their financial assets or overpay taxes, is termed as deferred tax assets. On the contrary, deferred tax liabilities signify a situation, in which a variation could be observed in profit and the carrying amount of tax of the organisation (Taylor and Richardson 2014). For Autosports Group Limited, it could be viewed that the organisation has disclosed deferred tax assets as well as deferred tax liabilities in its balance sheet statement. The deferred tax assets of the organisation have been $3,897,000 in 2017, which were $3,900,000 in 2016. Along with this, the organisation has deferred tax liability base of $5,948,000 in 2017, which was $4,000,000 in 2016. By taking into account the accounting norms and regulations, there are few reasons to develop deferred tax assets and liabilities. For deferred tax assets, the cause might be the additional depreciation amount on the part of the organisation because of the difference in rate of taxable depreciation and depreciation. Because of the additional depreciation payment, Autosports Group Limited would not have to incur the excess tax in the upcoming year; hence, it is taken into account as asset. In case of deferred tax liabilities, the temporary variations in business profits might be the cause, which has resulted in lower tax payment of the organisation in the existing year (McClure et al. 2018). Hence, it becomes mandatory for the organisation to repay the same in the upcoming years, which is the main reason of its consideration in the form of liability. Income tax payable or current tax asset is adjudged as a significant aspect for the global organisations. According to the annual report of Autosports Group Limited, it has disclosed about its current tax asset. It has been found that the income tax payable of the organisation has been $4,980,000 in 2017; however, no income tax payable is reported in the year 2016. In organisations, it could be observed that there is a variation between income tax payable and income tax expense and there are some particular reasons that could be held for such disparity. The basic reason is the availability of deferred tax assets. There are many examples, in which the organisation incurs additional tax amounts in contrast to the tax expenses (Dyreng, Hoopes and Wilde 2016). In this condition, the additional amount of tax paid would be adjudged in the form of deferred tax assets, which would result in variation. The next reason is that the rules pertaining to financial accounting and tax accounting differ from each other. In this dimension, it is noteworthy to mention the concept of depreciation. The variation for depreciation could be observed in case of tax accounting as well as financial accounting due to the use of different depreciation methods (King 2016). Therefore, the final depreciation amount payable could rise or decline. These could be stated as the p rimary reasons behind the variations between income tax expense and income tax payable (Burkhauser, Hahn and Wilkins 2015). Based on the financial statements of Autosports Group Limited, the organisation has disclosed its tax-related expenditure in both the income statement and the cash flow statement. However, there are variations in tax expenses, which are depicted in the cash flow statement and the income statement. Under the income statement, the income tax expense has been $6,035,000 in 2017, which was $8,000,000 million in 2016. Under the cash flow statement, the income tax paid has been $6,760,000 in 2017, while in 2016; it has not recorded any income tax paid. Some particular reasons are there for this variation in both the above-depicted statements in relation to tax expense. Under the income statement, the organisation has depicted the entire taxation amount by using the tax rate of 30% on the profit before tax. However, the situation is dissimilar in case of the cash flow statement. In this regard, Murphy (2016) advocated that the tax expense falls under the operating cash flows. Moreover, in the section of the statement of cash flow, there is different for few items laid out in the income statement. This signifies that various modifications have occurred in the current asset and liability base of the organisations. In case of Autosports Group Limited, the income tax payment is taken into account in the form of current asset. Under the cash flow statement, some minimisation in the constituents of income tax has been brought signifying the usage of cash. This denotes that there is cut off of few components of tax expense, before they are considered in the cash flow statement (Dowling 2014). Because of these reasons, the variation in tax expense could be observed in both the income statement and the cash flow statement. After the tax treatment is observed for the financial reports of Autosports Group Limited, it is to be said that the organisation has presented its tax-related information in a fashion that any user would not find any confusing or surprising element within the same. The organisation has carried out all its tax treatments by adhering to the regulations and principles of the taxation law of Australia. Moreover, the organisation has laid down all the justifications and descriptions of the different influential dynamics of taxation such as rate of tax, income tax payable, deferred tax assets, deferred tax liabilities and others. However, few interesting stuffs have been found in relation to the tax treatment of the organisation. The most significant factor is the description made on the part of the organisation in relation to the difference identified in the overall tax expense. It has provided description about the five main influential dynamics accountable to create difference in tax expense. This is depicted with the help of various tables present in the annual report of the organisation. Another significant factor is the variation in tax expense, as identified from the statement of income and the statement of cash flow. All these exciting factors are highly valuable to increase the knowledge and understanding needed in business taxation. From this evaluation, an individual could obtain insight and understanding regarding the tax treatment of the Australian organizations. References: Agrawal, A. and Cooper, T., 2017. Corporate governance consequences of accounting scandals: Evidence from top management, CFO and auditor turnover.Quarterly Journal of Finance,7(01), p.1650014. Atanasov, V. and Black, B., 2016. Shock-based causal inference in corporate finance and accounting research. Burkhauser, R.V., Hahn, M.H. and Wilkins, R., 2015. Measuring top incomes using tax record data: A cautionary tale from Australia.The Journal of Economic Inequality,13(2), pp.181-205. Cheng, B., Ioannou, I. and Serafeim, G., 2014. Corporate social responsibility and access to finance.Strategic Management Journal,35(1), pp.1-23. Damodaran, A., 2016.Damodaran on valuation: security analysis for investment and corporate finance(Vol. 324). John Wiley Sons. Dowling, G.R., 2014. The curious case of corporate tax avoidance: Is it socially irresponsible?.Journal of Business Ethics,124(1), pp.173-184. Dyreng, S.D., Hoopes, J.L. and Wilde, J.H., 2016. Public pressure and corporate tax behavior.Journal of Accounting Research,54(1), pp.147-186. Gitman, L.J., Juchau, R. and Flanagan, J., 2015.Principles of managerial finance. Pearson Higher Education AU. Graetz, M.J. and Warren Jr, A.C., 2014. Unlocking Business Tax Reform.Tax Notes,145, pp.707-712. Investors.autosportsgroup.com.au., 2018.Investor Centre | Autosports Group. [online] Available at: https://investors.autosportsgroup.com.au/investors/?page=annual-reports [Accessed 25 Jan. 2018]. King, M., 2016. Offshore hubs: Developments in multinational corporate tax anti-avoidance.Australian Resources and Energy Law Journal,35(2), p.142. McClure, R., Lanis, R., Wells, P. and Govendir, B., 2018. The impact of dividend imputation on corporate tax avoidance: The case of shareholder value.Journal of Corporate Finance,48, pp.492-514. Murphy, C., 2016. The effects on consumer welfare of a corporate tax cut.Arndt-Corden Department of Economics Working Paper, (2016/10). Richardson, G., Taylor, G. and Lanis, R., 2015. The impact of financial distress on corporate tax avoidance spanning the global financial crisis: Evidence from Australia.Economic Modelling,44, pp.44-53. Schaltegger, S., Etxeberria, I.. and Ortas, E., 2017. Innovating Corporate Accounting and Reporting for SustainabilityAttributes and Challenges.Sustainable Development,25(2), pp.113-122. Taylor, G. and Richardson, G., 2014. Incentives for corporate tax planning and reporting: Empirical evidence from Australia.Journal of Contemporary Accounting Economics,10(1), pp.1-15.