Tuesday, December 10, 2019

Business and Corporate Law Relevant Laws and Applications

Question: Describe about Business and Corporate Law of Relevant Laws and Applications. Answer: This report analyses two different situation using relevant laws and applications to evaluate whether the contract is enforceable or not. 1. In the business and corporate law, consideration is a significant element in the formation of a contract. In a consideration contract and agreement, both parties (promisor and promisee) should receive some value in term of benefit, loss, responsibility and right (Poole, 2016). An agreement without valid consideration is an invalid contract. To the formation of a contract enforceable, there is required to an offer is made by promisor and its acceptance by the promisee. In the other words, consideration of a contract law refers to simply exchange of things between two parties where the value is also included. In the consideration of an enforceable agreement, the significant thing is the legality of terms and conditions. (A) In this case, Jane is going to abroad, so she offers to give her Lotus Super 7 sports car to jack and Jack accepts the offer of Jane. In the market, the value of this type of care is approximately $25,000. Thus, the issue is whether the consideration is presented in this case or not. According to the concept of the consideration, this case is unenforceable agreement; due to there is the lack of fulfilment of the consideration legal principal (Harris, 2015). In the consideration, it is essential to both parties receive some value in the agreement. But in this case, Jack is getting the benefit as Lotus Super 7 sports car, which is offered by the Jane. Jane is not receiving anything type of profit or money against this. In additionally, Jack is also not doing any promise to give return against Janes offer. Thus, it can be concluded that this case is not involving the consideration in the agreement and it is an unenforceable agreement. In this case, consideration will present when the Jack promises to Jane to give a value against to car that should be meet the market value of the care (Morgan, 2012). (B) In this case, Jane offers to Jack sell her Lotus Super 7 sports car for $25 000 and Jack accepts Janes offer. At the same time, in the market value of this care is approximately $25,000. In this case, the issue is that weather consideration is presented or not. As per principle of the consideration, in this situation consideration is presented because both parties in the agreement are agreed to exchange some values. In the given case this, Jane is selling her car for $25000 and Jack accepts Janes offer without made any reduction in the offer price. It proves that this is a considerable case. Along with this, jack has not made any reduction in this price. The missing aspect in the last case is now major aspect. It is because both parties are getting benefit in this situation. Jack is getting the benefit of Lotus Super 7 sport; on the other hand, Jane is getting benefit in monetary term. It means that this agreement is completing the legal formalities of the sale and purchasing contract act (Bartsch, 2016). On the behalf of this, it can be identified that this case is legal in terms of consideration and the buyer has an enforceable agreement. (C) According the case, Jane is offering a Lotus Super 7 sports car for $2500 to Jack and Jack buys her car without make any changes. At the same this, the actual value of the care is $25000 in the market. In this situation, the issue is created that whether the consideration is presented in the case or not. In this case, the consideration is presented in the agreement but, it is not with proper justification. The principle of the consideration depicts that both parties should receive adequate benefit from their actions (McKendrick, 2014). In the existing case, Jane is offering her sports car only for $2500, but the market value of it is $25000. As concerning this consideration principle, Jane should receive the adequate value of its car that can be approximately $25000. But, at the same time, it is Jane self-offer and decision. There is not any kind of pressure upon the Jane to sell its car for $2500. It depicts that consideration is presented in this case and Jack has an enforceable agreement in the court (Hart, et al., 2012). At the same time, it is also found that the contract between Jane and Jack is not affected by any public policy and civil law. It provides strength to the contract and proves that contract is enforceable. In this agreement, both parties have a legal obligation to fulfill their commitment regarding the law of consideration. Beside of this, in the contract law, an agreement may be unenforceable if, the promise is impossible to finish. In this situation, the agreement cannot be registered in the court (Hillman, 2012). In the context this agreement between Jane and Jack, the offer is given by Jane for selling her car only for $2500; this agreement is not fair due to the inadequate value of the sports car. It is because the actual market price of the care is $25000, which is by far from the offer price. In this manner, it is inadequate for Jane due to the price of the sports car is not according to the market price. At the same time, it is also found that to make a contract valid and enfo rceable; three elements are essential in an agreement, which is consideration of law, a legal or valid offer and its acceptance and mutual assent (Bozeman, 2015). The agreement between Jane and Jack is unenforceable due to this agreement does not fulfil the requirement of an enforcement contract. In the study of this case, it is found that Jane has not offered valid agreement to the Jack. It is because the market value of the car is $25000 while Jane is offering it only $2500. Due to this, it is affected by the rules business and corporate law. But, at the same time, conformity and willingness of the Jane show that it is legal agreement in terms of consideration and it is also an enforceable agreement for Jack (DiMatteo and Hogg, 2016). 2. This case is seemed as case of duress in completing the objective of the case. According to the presented case, North Ocean Tankers have contract with shipbuilder for producing a tanker. This contract has done in the US currency and it will not contain any alternation in the future due to change in currency value. Unfortunately, in the mid of contraction of the tanker, the value of the US dollar has devalued approximately 10 percent. Due to this, the shipbuilder is observed that there is a loss in contraction of tanker and it is demanded to pay extra US$3 million otherwise, it can punctuate the work. In this case, the buyer has agreed to pay the excess money due to it had a charter regarding the tanker. So, it is essential for it to make the delivery on the time. After complete this agreement, the North Ocean has not tried for recovering its additional amount till nine months. Thus, the issue in this case is that whether the buyer has legal obligation to recover its excess amount. According the principles and rules of the contract law, duress is an illegal term in the contract and agreement (Habermas, 2015). Many times, it is seen that one party of the contract is used threat and violence against to another party of the contract. It is because; first party tries to compel for achieving contract objective. In this case, there is involuntary of the buyer to pay the exceed amount, which is occurred due to devalue in US currency. It is also analyzed that threat in the contract is also a reason in making contract illegal (Schwenzer, et al., 2012). In this, the shipbuilder treats the North Ocean Tankers to pay extra amount otherwise, it will stop the work of contraction of the tanker. It proves that threat of the shipbuilder to complete the contract is illegal. Duress in the contract law is defined as a threat of a party against to another party's willingness or assessment (Harris, 2015). All kinds of the illegal threats come in duress of the law that makes the agreement illegal. There are two types of duress in the contract law, which are physical duress and economic duress. In this, physical duress includes the person duress and goods duress. Murder and kidnapping such as activities are come in duress of person. Duress of goods refers to refuse to deliver goods. On the order hand, economic duress includes the no reasonable alternative, wrongful and improper threat and financial distress (Hillman, 2012). From the study of the given case, it is identified that the shipbuilder has created pressure on the buyer to retain involved in the contract with paying US$ 3million extra money. The reason behind this is that the shipbuilder is in loss due to the US government devalued its currency by 10 percent (Mattila, 2016). So, on the basis of given detail, it is analyzed that North Ocean Tankers has paid excess payment amount of US$ 3 million to the shipbuilder under the duress. It leads to economic duress in the agreement as well as duress of goods. It ensures to North Ocean Tankers to recover its extra money from the shipbuilder. Additionally, in this case, it is also found that shipbuilder has not given the alternative option to the North Ocean Tankers for accomplishing the objective in determined agreement (Cartwright, 2016). In this situation, the law is said that undue commercial pressure in the agreement is a kind of treat that is illegal in terms of the law. The court is required to take effective action for solving this type of issue with the carefully analysis of the case. In this case, the court will find that the shipbuilder has made pressure on the North Ocean Tankers for retaining in agreement and paid excess payment. In the other words, it will be said that the contract has completed in the under the duress of agreement (Butler, et al., 2013). On the basis of this discussion, it can be concluded that the buyer is able to recover its excess amount and for this, it can be applied in the court. For the example, an earlier duress case is studied of North Ocean Shipping Co. Ltd v Hyundai Corporation Co Ltd. In this case, Hyundai was shipbuilder and the payment of the deal had done in five instalments. But, Hyundai was demanded to give 10% extra of the deal due to some default in the payment and shipbuilder was stopped the delivery of the ship. North Ocean was said that they will pay excess money to maintain the relationship. In this case, the high court was taken action as to refund the extra amount to North Ocean. The court was said that amicable relation was not the good consideration but, instead of this, increasing the letter of credit was a good consideration (Bix and Bix, 2012). This agreement was void due to the involvement of physical duress in the contract. Along with this, the study of the law depicts that duress in the contract leads to make contract voidable, which provides strength to a party that is treated by another party (Mattila, 2016). The law also provides right to infected parties to get the compensation in against loss in the agreement. From the case study of North Ocean Tankers and shipbuilder, it is said that buyer has right to go to court for recovering US$3 million from the shipbuilder. Reference Bartsch, R.I. (2016) International aviation law: a practical guide. UK: Routledge. Bix, B. and Bix, B.H. (2012) Contract law: rules, theory, and context. UK: Cambridge University Press. Bozeman, A.B. (2015) The future of law in a multicultural world. USA: Princeton University Press. Butler, D.A., Christensen, S., Dixon, B. and Willmott, L. (2013) Contract Law Case Book. USA: Oxford University Press. Cartwright, J. (2016) Contract law: An introduction to the English law of contract for the civil lawyer. UK: Bloomsbury Publishing. DiMatteo, L.A. and Hogg, M. eds. (2016) Comparative Contract Law: British and American Perspectives. USA: Oxford University Press. Habermas, J. (2015) Between facts and norms: Contributions to a discourse theory of law and democracy. USA: John Wiley Sons. Harris, P. (2015) An introduction to law. UK: Cambridge University Press. Hart, H.L.A., Raz, J., Green, L. and Bulloch, P.A., (2012) The concept of law. USA: Oxford University Press. Hillman, R.A. (2012) The richness of contract law: An analysis and critique of contemporary theories of contract law. Germany: Springer Science Business Media. Mattila, H.E. (2016) Comparative legal linguistics: language of Law, Latin and modern lingua francas. UK: Routledge. McKendrick, E. (2014) Contract law: text, cases, and materials. UK: Oxford University Press. Morgan, J. (2012) Great Debates in Contract Law. UK: Palgrave Macmillan. Poole, J. (2016) Textbook on contract law. UK: Oxford University Press. Schwenzer, I., Hachem, P. and Kee, C. (2012) Global sales and contract law. USA: Oxford University Press.

Monday, December 2, 2019

Uniformity of Accounting Standard and Conceptual Framework free essay sample

Uniformity of Accounting Standard and Conceptual Framework Executive summery Harmonization of the accounting standard and conceptual framework is emerging as a requirement for of the international community. As business cross national boundaries so the transecting parties need uniformity in the financial reporting for better understanding of the business conditions. The process of harmonization gets accelerated by the initiative of the two major standard setting body of the world IASB and FASB. Although the two authoritative bodies try to uniform the accounting standard but the major concern arises here is the biasness of the influencing nations. In the assignment, pros of the harmonization process is discussed which is essential for international business community. The process is also disturbed by taking into account no consideration of the society and judgment of the professionals. In the assignment some recommendations are made for accelerating the harmonization process. Contents Introduction Economics and politics are the two major elements that shape the accounting standard of a nation. We will write a custom essay sample on Uniformity of Accounting Standard and Conceptual Framework or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page As each and every nation varies in their economic condition, customized accounting standard gets its appeal. Nowadays business is not confined in the national boundaries. With the integration of the worldwide market and the economic forces the process harmonizing the accounting standard has become an emerging issue. In the process independent rather than governmental organization is most appropriate. If we account for the advantages and disadvantages of the harmonization process then in the pros side of the ledger high quality standard of the FASB is the achievement and in the cons side I will posted the biasness of the standard setters. The process reduces the cost of the international community because adding an additional member in the process tends to zero marginal cost of standard setters. Why uniformity in the accounting standard and conceptual framework? With the widespread integration of the markets and policies all over the world, nowadays it becomes inevitable for the financial institutions all over the world to follow a uniform standard for financial reporting. Following the high quality accounting standard tends to a higher standard financial reporting. The pros for informing standard all over the world are as follows: (Ball, ,2005) Maintaining uniformity in financial data presentation: standards are set to guide the contracts of the financial institutions. In the case, if the financial reporting of the entities is different, it causes problem for both the contracting parties in the maintenance of the conditions of the contracts. For example- Company X lends money from Bank Y on the condition that landed amount must not exceed 60% of the total tangible. In the situation valuation techniques of the firms are different then it affects the contract adversely. So following a uniform standard for valuation of tangible asset is a solution of the problem Uniform presentation of financial performance: investors make investment decision based on the financial performance of any firm. In the situation, if the firms follow different standard to represent profitability then it becomes misleading for the investors. Following a uniform standard for reporting can resolve the problem (Lammle, ,2005) Adopting uniformity in the accounting standard offers the society the following three benefits: 1. Uniform accounting standard offers the benefit of economics of scale. Standard once are set, the cost of adding additions user is zero 2. The auditors tasks get easy because all the financial institutions follow uniform policy and procedure for reporting 3. Comparability can be made which reduce the cost of the firms contracting each other Extended cross border transactions: nowadays cross border transaction has been increased. Information about the foreign products and the financial information of the business are now available in internet. As a result, investors invest in foreign firms. In the situation uniform financial reporting gets very important (Buys, ,2011) Uniform financial reporting offers the investors the following benefits: IFRS standards offer a more accurate presentation of the financial data than that of the national standards. Information of some firms is not readily available. In the situation uniformity in accounting standard reduce risks in decision making Usually small investors cannot evaluate all the information than that of professionals. Following the IFRS standard improves the quality of information which ultimately gives the investors more information for access Following the uniform accounting standard serves the purpose of comparability and information accessibility cost gets reduced In IFRS standard emphasis is given for the comparability of information and it becomes more accessible. So integrating the entire world standard with IFRS yields the investors the above benefits. Some other passive pros of uniform accounting standard are as follows: Improve usefulness of financial data Increase transparency which ultimately benefits stakeholders The above two factors tend to reduce agency costs of the firms The above are some of the benefits of harmonization of the accounting standard. The process of harmonization is fueled by the process of globalization. As transactions occurs across national boundaries, there create a need for uniform accounting standard. In today’s business world, transactions cross national boundaries. As a result uniformity in reporting financial data gets very important. IFRS standard plays a vital role in the process of harmonization and many of the European nations follow IFRS. In the process an initiative is taken by USA to harmonize GAAP with IFRS. (HINES, ,2005) Arguments against uniform financial reporting Uniformity in financial reporting is made at the expense of the society. Culture differs in different nations, as a result in the process of uniform accounting reporting cultural aspects are considered. Economic condition of different nations also varies, for example- some are big, and some are small. Uniformity ignores the judgments of the professionals. The process also discourages research in the field and also discourages different ways of financial reporting. Shortcomings of uniform financial reporting are as follows: (Sunder, ,2007) Application of the concept uniformity: the concept of uniformity can never be defined specifically so that the standard setters can apply it in financial reporting. For example- in case of reporting the R D expenditure, management discretion is ignored. In recording the expenditure economic nature of the firm is considered. But the economic condition of the firms is not feasible in many cases. As a result, the uniformity issues creates problem Social norms: the process of uniformity in accounting standard barely considers the issues like cultural, social and political differences in the nations. As a result the process of implementation is affected largely. (Madawaki, ,2012) In applying the standard in the society the standard setters face the following three problems related with the practice in the society: 1. Information problem: in the process of developing standards, the stand makers have very little information about the social circumstances. Standard are set to replace the previous one but the process is very complex. Involvement in the social norms provide more information which is largely ignored in the process 2. Problem in design the standard: in designing standard, it becomes very important to attain representation, impartiality and consistency. The professionals set the standard may not be impartial. In the process, the influencing stakeholders try to influence the standard setting for their benefit. This influence distorts the proper standard setting of the standard setting body. 3. The gaming problem: the development of the standard alters the decision environment of the business firms. Standard also paves some new opportunities. The standard setters do not possess all the information for desired chances as a result misunderstanding arises. The standard setters should ensure that the standards ensure the mutual understanding between the standard setters and the business firms Legal situation of a nation: in the cases where standard is conflicting the low of the nation the jurisdiction of the nation imply it invalid to impose Education and research: in the process of uniformity new standards are set. As a result, the professional teams of the standard setting body have to train the local the professionals in the new standards. In the educational programs also the subject concern with the topic should be amended. This means that the whole system such as: educational materials, accounting software, reporting system all have to be restructured (Agrawal, ,1987) The process of uniformity is questioned by the dominance of some countries. Many nations argue that the head of IASB is the representative of USA. It is a major defense against the standard setting process. In some cases, the judgmental areas of the business firms vary. In the situations, uniformity is somehow impossible. Harmonizing standard with the US GAAP in the uniform of standard is also a major shortcoming. Recommendation The process of harmonization of the two standard setting bodies FASB and IASB has already been started. The process benefits the transactions across national border. Cost of providing information is also reduced. In the situation the process can be successful if it can maintain the following standards: (Barbu, ,2007) To cope with the changing global marketplace, the standard setting body should update the accounting standard in a regular basis and should communicate it with the related parties for implementation The standard setting body should be private and independent to avoid any political pressure of the government which ultimately ensures democracy. In case of governmental standard setting body, there is a chance to be biased in formulating accounting standard In setting the standard the economic variety of the nations should be considered There should be some areas for professional judgment because of the economic variety of the nations To implement the process of uniformity a monitoring sell should be developed. The department oversees the maintenance of the accounting standard. If any nation does not follow the prescribed standard then the department can panelize the nation (Buchanan, ,2007) Conclusion The process of harmonization gets appeal of the international community in the last ten years. The process gets accelerated by the Europeans as they are currently following IAS and IFRS for financial reporting. United States is also a pioneer in the issue by creating a bridge with the international standard with GAAP. In the process the stakeholders gets advantaged by sharing a uniform financial reporting. The cross border relationship is emerged in a new horizon now. The audit process gets the justification in the harmonization process.  But the process is not without some problems also. The process reduces the independent judgment of the auditors. The major stakeholders also influence the standard setting process. An independent private standard setting body is a possible solution to the problem. Uniformity of Accounting Standard and Conceptual Framework free essay sample Uniformity of Accounting Standard and Conceptual Framework Executive summery Harmonization of the accounting standard and conceptual framework is emerging as a requirement for of the international community. As business cross national boundaries so the transecting parties need uniformity in the financial reporting for better understanding of the business conditions. The process of harmonization gets accelerated by the initiative of the two major standard setting body of the world IASB and FASB. Although the two authoritative bodies try to uniform the accounting standard but the major concern arises here is the biasness of the influencing nations. In the assignment, pros of the harmonization process is discussed which is essential for international business community. The process is also disturbed by taking into account no consideration of the society and judgment of the professionals. In the assignment some recommendations are made for accelerating the harmonization process. Contents Introduction Economics and politics are the two major elements that shape the accounting standard of a nation. We will write a custom essay sample on Uniformity of Accounting Standard and Conceptual Framework or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page As each and every nation varies in their economic condition, customized accounting standard gets its appeal. Nowadays business is not confined in the national boundaries. With the integration of the worldwide market and the economic forces the process harmonizing the accounting standard has become an emerging issue. In the process independent rather than governmental organization is most appropriate. If we account for the advantages and disadvantages of the harmonization process then in the pros side of the ledger high quality standard of the FASB is the achievement and in the cons side I will posted the biasness of the standard setters. The process reduces the cost of the international community because adding an additional member in the process tends to zero marginal cost of standard setters. Why uniformity in the accounting standard and conceptual framework? With the widespread integration of the markets and policies all over the world, nowadays it becomes inevitable for the financial institutions all over the world to follow a uniform standard for financial reporting. Following the high quality accounting standard tends to a higher standard financial reporting. The pros for informing standard all over the world are as follows: (Ball, ,2005) Maintaining uniformity in financial data presentation: standards are set to guide the contracts of the financial institutions. In the case, if the financial reporting of the entities is different, it causes problem for both the contracting parties in the maintenance of the conditions of the contracts. For example- Company X lends money from Bank Y on the condition that landed amount must not exceed 60% of the total tangible. In the situation valuation techniques of the firms are different then it affects the contract adversely. So following a uniform standard for valuation of tangible asset is a solution of the problem Uniform presentation of financial performance: investors make investment decision based on the financial performance of any firm. In the situation, if the firms follow different standard to represent profitability then it becomes misleading for the investors. Following a uniform standard for reporting can resolve the problem (Lammle, ,2005) Adopting uniformity in the accounting standard offers the society the following three benefits: 1. Uniform accounting standard offers the benefit of economics of scale. Standard once are set, the cost of adding additions user is zero 2. The auditors tasks get easy because all the financial institutions follow uniform policy and procedure for reporting 3. Comparability can be made which reduce the cost of the firms contracting each other Extended cross border transactions: nowadays cross border transaction has been increased. Information about the foreign products and the financial information of the business are now available in internet. As a result, investors invest in foreign firms. In the situation uniform financial reporting gets very important (Buys, ,2011) Uniform financial reporting offers the investors the following benefits: IFRS standards offer a more accurate presentation of the financial data than that of the national standards. Information of some firms is not readily available. In the situation uniformity in accounting standard reduce risks in decision making Usually small investors cannot evaluate all the information than that of professionals. Following the IFRS standard improves the quality of information which ultimately gives the investors more information for access Following the uniform accounting standard serves the purpose of comparability and information accessibility cost gets reduced In IFRS standard emphasis is given for the comparability of information and it becomes more accessible. So integrating the entire world standard with IFRS yields the investors the above benefits. Some other passive pros of uniform accounting standard are as follows: Improve usefulness of financial data Increase transparency which ultimately benefits stakeholders The above two factors tend to reduce agency costs of the firms The above are some of the benefits of harmonization of the accounting standard. The process of harmonization is fueled by the process of globalization. As transactions occurs across national boundaries, there create a need for uniform accounting standard. In today’s business world, transactions cross national boundaries. As a result uniformity in reporting financial data gets very important. IFRS standard plays a vital role in the process of harmonization and many of the European nations follow IFRS. In the process an initiative is taken by USA to harmonize GAAP with IFRS. (HINES, ,2005) Arguments against uniform financial reporting Uniformity in financial reporting is made at the expense of the society. Culture differs in different nations, as a result in the process of uniform accounting reporting cultural aspects are considered. Economic condition of different nations also varies, for example- some are big, and some are small. Uniformity ignores the judgments of the professionals. The process also discourages research in the field and also discourages different ways of financial reporting. Shortcomings of uniform financial reporting are as follows: (Sunder, ,2007) Application of the concept uniformity: the concept of uniformity can never be defined specifically so that the standard setters can apply it in financial reporting. For example- in case of reporting the R D expenditure, management discretion is ignored. In recording the expenditure economic nature of the firm is considered. But the economic condition of the firms is not feasible in many cases. As a result, the uniformity issues creates problem Social norms: the process of uniformity in accounting standard barely considers the issues like cultural, social and political differences in the nations. As a result the process of implementation is affected largely. (Madawaki, ,2012) In applying the standard in the society the standard setters face the following three problems related with the practice in the society: 1. Information problem: in the process of developing standards, the stand makers have very little information about the social circumstances. Standard are set to replace the previous one but the process is very complex. Involvement in the social norms provide more information which is largely ignored in the process 2. Problem in design the standard: in designing standard, it becomes very important to attain representation, impartiality and consistency. The professionals set the standard may not be impartial. In the process, the influencing stakeholders try to influence the standard setting for their benefit. This influence distorts the proper standard setting of the standard setting body. 3. The gaming problem: the development of the standard alters the decision environment of the business firms. Standard also paves some new opportunities. The standard setters do not possess all the information for desired chances as a result misunderstanding arises. The standard setters should ensure that the standards ensure the mutual understanding between the standard setters and the business firms Legal situation of a nation: in the cases where standard is conflicting the low of the nation the jurisdiction of the nation imply it invalid to impose Education and research: in the process of uniformity new standards are set. As a result, the professional teams of the standard setting body have to train the local the professionals in the new standards. In the educational programs also the subject concern with the topic should be amended. This means that the whole system such as: educational materials, accounting software, reporting system all have to be restructured (Agrawal, ,1987) The process of uniformity is questioned by the dominance of some countries. Many nations argue that the head of IASB is the representative of USA. It is a major defense against the standard setting process. In some cases, the judgmental areas of the business firms vary. In the situations, uniformity is somehow impossible. Harmonizing standard with the US GAAP in the uniform of standard is also a major shortcoming. Recommendation The process of harmonization of the two standard setting bodies FASB and IASB has already been started. The process benefits the transactions across national border. Cost of providing information is also reduced. In the situation the process can be successful if it can maintain the following standards: (Barbu, ,2007) To cope with the changing global marketplace, the standard setting body should update the accounting standard in a regular basis and should communicate it with the related parties for implementation The standard setting body should be private and independent to avoid any political pressure of the government which ultimately ensures democracy. In case of governmental standard setting body, there is a chance to be biased in formulating accounting standard In setting the standard the economic variety of the nations should be considered There should be some areas for professional judgment because of the economic variety of the nations To implement the process of uniformity a monitoring sell should be developed. The department oversees the maintenance of the accounting standard. If any nation does not follow the prescribed standard then the department can panelize the nation (Buchanan, ,2007) Conclusion The process of harmonization gets appeal of the international community in the last ten years. The process gets accelerated by the Europeans as they are currently following IAS and IFRS for financial reporting. United States is also a pioneer in the issue by creating a bridge with the international standard with GAAP. In the process the stakeholders gets advantaged by sharing a uniform financial reporting. The cross border relationship is emerged in a new horizon now. The audit process gets the justification in the harmonization process.  But the process is not without some problems also. The process reduces the independent judgment of the auditors. The major stakeholders also influence the standard setting process. An independent private standard setting body is a possible solution to the problem.

Wednesday, November 27, 2019

Equity in the Academic Labor Market

Equity in the Academic Labor Market Introduction The issue of equity in academic labor market has been already discussed by a number of people.Advertising We will write a custom research paper sample on Equity in the Academic Labor Market specifically for you for only $16.05 $11/page Learn More The reasons of this investigation vary considerably: some researchers find it necessary to define the conditions under which academic disciplines may be considerably improved, some people want to introduce better conditions in a particular labor market, and in some investigations, the idea of gender and racial inequality turns out to be a rather significant question that has to be solved within a short period of time. During the last decade, several American researchers offer their ideas concerning the improvement of the conditions under which equity in academic labor market may be promoted, still, the analysis of academic disciplines shows that the necessary changes do not take place accordingly so tha t working conditions are improved. This is why it seems to be obligatory not to develop some new ideas and methods to solve the already defined problem but try to make use of the offered ideas and evaluate their effectiveness from a variety of perspectives. This is why the idea to use secondary research methods to investigate the equity in academic labor market and introduce the analysis of academic disciplines is considered to be powerful indeed. The evaluation of the already implemented hierarchical linear model (Umbach, 2007), certain analysis of academia population (Mayer Tikka, 2008), and attention to the data offered by the National Study of Postsecondary Faculty (Xu, 2007) will help to define the problems in academic labor market and propose the solutions which will be more appropriate to a particular population. Method and Design Description Taking into consideration the fact that the equity in the academic labor market has been already investigated by a number of researche rs, it is possible to rely on the secondary research method that aims at synthesizing and evaluating the already existing thoughts and material on the chosen topic. The data sources for the chosen method are considered to be the surveys offered by National Study of Postsecondary Faculty (NSOPF) and the articles where the required investigations are described.Advertising Looking for research paper on education? Let's see if we can help you! Get your first paper with 15% OFF Learn More The point is that gender inequality is the issue that bothers many people as female attempts to gain equity seem to be not comparable for women in each district of the USA as poor, less-educated women or the women of color cannot get an access to the gains which are available to white, rich, and properly educated women (Richardson Sandoval, 2007). The investigations of Umbach (2009) help to understand that market segmentation is considered to be an important aspect of sex differ ences which may be observed at the academic labor market because women have to work under poorer conditions characterized by lower prestige. The worth of the use of the hierarchical linear modeling has been already checked by such researchers like Umbach and Seifert (2007), this is why it is possible to focus on the same model to evaluate certain individual characteristics and their relation to academic salaries. In other words, some contextual effects which are inherent to academic disciplines and faculty salary equity will be taken into consideration (Umbach, 2007). Integration of the information from different sources will allow creating a clear background with the help of which the current diversity of academic people may be described. Equity in academia is regarded as unsolved issue, this is why any type of contribution to this sphere of life will become crucial. Strengths of the Chosen Method One of the powerful aspects of the chosen method is that certain attention is paid to the already identified problems and challenges. There is no need to conduct research to understand that is wrong with the academic disciplines and equity in the labor market. Several sufficient researchers have already admit that the number of women who may earn certification in the required education administration does not correspond to the national level, still, the results of the evaluation of the existing preparatory programs prove that women are more eager to gain knowledge in the academic sphere (Shakeshaft et al., 2007).Advertising We will write a custom research paper sample on Equity in the Academic Labor Market specifically for you for only $16.05 $11/page Learn More The results of their investigations prove that women do face certain problems in the labor market, and the identification of the reasons of why so many people cannot solve the problem help to understand why the chosen concept is still under discussions. One more strong aspect of the method and the design under consideration is connected to the status of American women on the world arena. Women have to be invited to the academic staff, still, the already introduced gender stereotypes and social conditions under which women have to enter the labor market are not as successful as meant to be. Finally, the last strength of the envisioned method is that the current achievements in analyzing information should help to gain better understanding of the material offered by the researchers mentioned above. Time factor plays a very important role as people get more opportunities to investigate their possibilities and their achievements in different spheres. This is why it is not only better to use the offered secondary research method and focus on the already introduced findings but also more appropriate to learn what is already offered to society and make use of the achievements. Appropriateness of the Design Research design offered in this project will help to hold all the findings together. It should show the way of how the main parts of the project should be organized and the conditions which should be created for the research. The analysis of up-to-date literature, identification of the weaknesses in the sphere under consideration, and implementation of new ideas should encourage the researchers to develop new ideas and introduce new solutions of the old problems. The point is that equity in the academic labor market has been already identified as a problem to be solved, and the analysis of academic disciplines as well as the role of gender and racial factors should be re-evaluated. Stromquist (2007) admits that â€Å"education is related positively to individual, community, and national benefits† from a pure human capital perspective (p. 33).Advertising Looking for research paper on education? Let's see if we can help you! Get your first paper with 15% OFF Learn More It seems rational to consider the reasons of why someone may think that the educational system is not perfect. Then, it is possible to underline the challenges possible in the academic labor market. And finally, it is necessary to use the already made achievements and the worth of the hierarchical linear model and apply this material to introduce some new ideas and suggestions on how the role of women as well as some other types of inequality should be solved in society. Weaknesses of the envisioned method and design In addition to the already identified strong aspects of the project, there is a list of weaknesses which have to be elaborated to achieve better results in the chosen investigation. Equity in the academic labor market and the analysis of academic disciplines should help to solve the problems because of which many people suffer nowadays. Unfortunately, it is not possible to implement the offered ideas in different countries, this is why such developed countries like the USA or China will get more chances to improve the conditions under which the labor market may be developed, and a number of developing countries fail to take the same steps. One more shortage of the chosen method is based on the lack of primary sources. On the one hand, it is beneficial to use the findings of professionals and be sure of their quality. On the other hand, the chosen method is not as powerful as it could be due to inabilities to make certain improvements during the analysis itself. There is a list of conditions which have to be taken into consideration, and there is no possibility to add some new components to the research. Justification of the Chosen Method and Design Alternative methods Among the existing variety of alternative methods which may be applied to investigate the chosen question, primary research such as interviews with the representatives of academic labor market or evaluation of the documents which describe difference academic disciplines and their pec uliarities. Still, such methods seem to be less desirable as certain findings have been already fixed but fewer positive achievements are defined. This is why it seems to be more appropriate to make use of the already gained material, consider the thoughts of professional researchers, and focus on equity that is so important in the academic labor market. Communication with direct representatives of the labor market as well as some empirical methods is possible, however, such methods require more time and efforts to be used. In addition, the choice of such alternative methods may promote some doubts on the ideas offered by Umbach or Mayer. Still, there are many people who support the ideas of these researchers, this is why it is more reasonable to make use of their suggestions and thoughts. Weakness of alternative methods The main weakness of the chosen alternative methods is inability to find appropriate evidences. It is possible to interview on group of people at the academic labor market, still, it is hard to prove that other representatives of the chosen labor market face the same challenges. A number of factors have to be taken into consideration, and it is challenging to create some new programs which promote the development of equity. This is why it is possible to use model programs and equitable assessment tools offered earlier (Nash et al., 2007) and pay more attention on the development of quality tools instead of searching some new aspects of old problems. The offered alternative methods have been already used in the middle of the 20th century. As soon as civil rights movement appeared in the middle of the 1960s (Toutkoushian, Bellas, Moore, 2007), people wanted to get to know why employers, who perform equal amounts of work, have to receive different salaries being the same representatives of the labor market. This is why the main weakness of the alternative methods – past experience proved that some problems may appear during the investigat ion of the chosen issue, and it is better to concentrate on the already got data and try to improve the conditions within a short period of time. Success of the offered methodology The success of the offered methodology is predetermined by several factors. First of all, it is easy to find powerful evidence of the chosen ideas. The support of such researchers like Umbach proves that the chosen way of analysis is beneficial indeed. Another important aspect of the research is the attention to HLM with the help of which it is possible to evaluate the role of human capital and certain structural characteristics of different disciplines. And finally, the offered ideas should help to improve the discipline outcomes and their role in the labor market. Statistical models are not integral nowadays as they do not introduce a clear and definite solution of the problem. And the chosen method and design should promote a new stage with the help of which it is possible to define the steps by means of which people will get a chance to achieve the required equity. Conclusion In general, the theme of equity in the academic labor market seems to be rather important and influential. In fact, the quality of life is defined by the conditions under which people get and give education. If some mistakes take place in the educational system, it is obligatory to eliminate them within a short period of time. However, a number of past investigations show that certain attempts and ideas are offered still cannot be elaborated accordingly. This is why it is necessary to take into consideration the already got data, evaluate the findings in the chosen sphere of life, and think about the improvements which may be done on the provided basis. There is no need to create some innovative approaches but focus on what is already offered and try to improve the academic market. The analysis of academic disciplines in the United States should be organized on the researches conducted from 2007 to 2009. Re ference List Mayer, A.J. Tikka, P.M. (2008, November). Family-friendly policies and gender bias in academia. Journal of Higher Education Policy and Management, 30(4), 363-374. Nash, M.A., Klein, S.S., Bitters, B., Hobbs, S., Hotre, W.A., Shevtz., L., Wbarton, L. (2007). The role of government in advancing gender equity in education. In S.S. Klein (Eds.), Handbook for achieving gender equity through education (pp. 62-102). Mahwah: Routledge. Richardson, B. Sandoval, P. (2007). Impact of education on gender equity in employment and its outcomes. In S.S. Klein (Eds.), Handbook for achieving gender equity through education (pp. 43-58). Mahwah: Routledge. Seifert, T. Umach, P. (2008, June). The effects of faculty demographic characteristics and disciplinary context on dimensions of job satisfaction. Research in Higher Education, 49(4), 357-381. Shakeshaft, C., Brown, G., Irby, B.I., Grogan, M., Ballenger, J. (2007). Increasing gender equity in educational leadership. In S.S. Klein (E ds.), Handbook for achieving gender equity through education (pp. 103-130). Mahwah: Routledge. Stromquist, N. P. (2007). Gender equity education globally. In S.S. Klein (Eds.), Handbook for achieving gender equity through education (pp. 33-42). Mahwah: Routledge. Toutkoushian, R.K., Bellas, M.L., Moore, J.V. (2007, October). The interaction effects of gender, race, and marital status on faculty salaries. Journal of Higher Education, 78(5), p. 572-601. Umbach, P.D. (2007, March). Gender equity in the academic labor market: An analysis of academic disciplines. Research in Higher Education, 48(2), 169-192. Umbach, P.D. (2009, November). Sex segregation in academic labor markets and equity in faculty pay. Paper is published at the 34th Annual Conference of ASHE, Ralegh, NC, Xu, Y.J. (2007, May). Gender disparity in STEM disciplines: A study of faculty attrition and turnover intentions. Research in Higher Education, 49(7), 607-624.

Saturday, November 23, 2019

Armegeddon essays

Armegeddon essays There will come a time when all souls cannot escape from salvation. It is then, that because of this , the universe will ultimately collapse. Afterward all souls will be depressed again to live a lifetime where they have shackles forever. When a particular place in the universe has cooled life shall emerge, although it will be many years before This so describes the Hindu invision of the end of times in which the universe that includes everything is destroyed and then it is recreated again. It is important because many people believe Hinduism is responsible for the basis of other religions such as Buddhism, Sikkhism and Jainism which is clearly seen , as all three believe in many of the same theories such as reincarnation. For many of these people there is no true Armageddon only the repeat blooming and distraction of the universe by different types of gods. This makes me wonder if these people see Armageddon in such a different angle then conventional christians. How do the people of Confucianism , Marxism or any of the oriental religions perceive the end of The fact is, many of the so called religions out there do not have gods or prayer because there would be no need , rather they are only a philosophies on how people should live their lives . One example would be Confucianism which is predominately an Asian religion that started in the Chon Dynasty years 1122-897 B.C. The religion was founded by a man named Confucius who supported a project called the ritual music culture, that more or less was set up by the government of China to control the various tribes that inhabited the yellow river by giving them a culture that they all shared in common . This form of idealism unfortunately was rejected. The man named Confucius traveled all over China trying to persuade people to accept the ritual music culture , however some ...

Thursday, November 21, 2019

Immigration vs the NASW Code of Ethics Essay Example | Topics and Well Written Essays - 1250 words

Immigration vs the NASW Code of Ethics - Essay Example In essence, most of the professional fields have stipulated particular consequences in form of fines and penalties that should be imposed on anyone who does not adhere to the ethical conducts. The National Association of Social Workers (NASW) is the social worker’s professional organization in the United States. However, not all workers belong to the NASW. The organization has stipulated principles and values that all members adhere. The enshrined values aim to promoting the social aspects within society. The NASW code of ethics advocates for equality and justice to all. However, the federal government’s current policy on immigration has remained the most controversial aspect that contravenes the tenets of the National Association of Social Workers. North America is known as the land of immigrants because unlike any other nation, it receives millions of immigrants annually, and this has labeled the United States as the melting Pot in the globe. The proposals such as Tax ation Laws, Prosecuting Illegal Immigrants, H4 visa Program and the H-1B Visa Program, put forward in the much-awaited amendment of the immigration policy contravene the basic values of a social worker’s perspective. However, proposals such as the Life Adjustment Program, Legalization of Undocumented Immigrants and W-visa Program promote the values of a social worker. ... This paper seeks to examine the core values and principles of NASW’s code of ethics and compare them to the 1986 immigration legislation and its current policies and procedures of enforcement. This comparison will guide a detailed discussion of what changes in policy should be included as the Congress contemplates new immigration legislation in relation to the social worker’s perspective. As point of departure, the illegal entry has taken place for a long time and indeed, during the 1986 amnesty, almost 12 million illegal immigrants were in the United States forming 5% of the entire work force (Washingtonpost.com, 2013). This statistics indicates severe situation, since the statistics are overwhelming. This might have contributed to the stringent immigration policy, which the social worker’s perspective does not support. The issue of immigration is a national problem to the US government and an international challenge across other countries. A bill was passed in the U.S. known as Immigration Reform and Control Act of 1986,and became a law, which made legal the hiring and recruitment of illegal immigrants† (Washingtonpost.com, 2013). According to Goodman, (2013), comparison of this law with the NASW, evidences that, the law enshrines tough regulations that turned out to be inhuman. The NASW has fine ethical code of conduct that is contrary to the regulations of the Act. Other reforms made in the immigration policy in the past have consistently contradicted this code of conduct. Denial of certain rights to certain group of people is considered inhuman, since it violates the basic human rights. It will be a win situation for the members and proponents

Wednesday, November 20, 2019

Homelessness Essay Example | Topics and Well Written Essays - 750 words - 2

Homelessness - Essay Example I have found many people around me who forced to spend their final days of their lives in rescue homes even though they have enormous wealth. An old age couple who was staying near my home forced to transfer their lives to a near rescue home recently since they failed to get enough attention from their parents. These couple had huge wealth, but their children were working abroad. They failed to get enough protection from their children and finally forced to take shelter in a rescue home conducting by a charitable trust. In another case, I have seen a person forced to live in a rented house because of unemployment. The recent recession resulted in this person losing his job. He forced to sell his house in order to repay some of his debts and forced to shift to a small rented house with his wife and two children. Before recession itself, they were struggling to find their livelihood. When we analyze both the cases mentioned above, we can see that the homelessness problem is due to structural reasons rather than the individual reasons. Unemployment, poverty, lack of affordable housing, housing policies etc are some of the structural reasons commonly cited by many sociologists for homelessness (What causes homelessness?). But in the first case given above, we can see that the family set up forced the couple to take shelter in rescue homes. Kendall (2008) mentioned that people like to form groups to meet instrumental and expressive needs. Instrumental or task oriented needs cannot be met by one persona alone, so the group work cooperatively to fulfill the goal. Moreover small groups are better for all the members to acquaint well and to interact simultaneously (Kendall, p.151-152). The first case given above can be analyzed with respect to the above perspective. As per the current trends, people like to live in nuclear families, a family with husband, wife and one or two children. It is difficult for them to accommodate more

Sunday, November 17, 2019

New Emission Standards Essay Example for Free

New Emission Standards Essay One of the growing Threats to Harley Davidson’s reign of dominance in US markets has been a growing awareness of the environment. In response to this, the bar for emission standards is continuously raised. In 2010 model year or newer motorcycles emission standards for both HC + NOx were reduced from 1.4 prior to 2010 to just 0.8 after 2010 (US Government Printing Office. 2013). For at least 5 years now, there have been rumors circulating that Harley Davidson would abandon the traditional air cooled designs in favor of a new liquid cooled lineup in response to ever growing emission standards (Huze. 2011). If emission control standards continue to tighten, Harley Davidson may be forced to do exactly that. Procurement of Raw Materials Historically, Harley Davidson has relied on limited number of suppliers for raw materials to provide the components used in its manufacturing plants. In some cases, the entire company’s business is dependent on just one supplier to deliver certain raw materials in time. The lack of versatility in this area means that rising input costs could lead to capacity issues in the long run. Additionally, increasing costs for commodities could lead to capacity constraints, ultimately leading to lower production (Harley Davidson, Inc. 2012). Competitive Landscape Currently, Harley Davidson holds 56% of the market share for heavyweight motorcycles, defined as those motorcycles that displace more than 650cc. To some this may be an impenetrable advantage in the market, to other, a source of vulnerability (Taylor III, 2012). For years, Harley has been the undisputed king of the â€Å"bad boys†, but in recent years up and coming companies such as Polaris are trying to muscle in to the motorcycle arena. Polaris, a company known for its snow mobiles has only recently begun selling motorcycles 14 years ago (Taylor III, 2012). Polaris has shown that it understands what its buyers want and has demonstrated success in achieving higher sales through its colorful names such as Victory, 8-Ball, and Jackpot lineup. With aggressive pricing strategies and comparable quality, Polaris has quickly passed foreign competitors such as Honda, Yamaha, and Kawasaki and is now setting its eyes on Harley Davidson after its recent acquisition of Indian. Harley Davidson – Opportunities (O) Global Expansion In response to declining domestic sales, Harley Davidson has decided to expand its global presence in China and India. In 1995 Harley Davidson entered the Hong Kong market, opening its first mainland China office just 10 years later in 2005 (Miller. 2012). Currently, Harley has 8 full service dealerships in china and have plans to open an additional 5 more within the next 5 years. Harley’s biggest challenges have been the understanding of foreign markets. In China for example, the motorcycle market was riddled with low cost economic alternatives for daily transportation. The average engine size ranges anywhere from just 50cc to 600c. With some of Harley’s heavyweights tipping the scales in the range of 800c to 1600cc beasts, the concept of heavyweight leisure riding was simply not understood yet in foreign markets. Harley would have to start from the ground up if it wants to succeed. Today, Harley has succeeded in growing its international presence in over 70 countries across the globe. Although growth into international markets has been substantial, there is still significant room for further expansion (Miller. 2012). New Product Launches Another area of opportunity for Harley Davidson lies in the arena of launching new products. In 2014 Harley expects to launch eight new models, a record number of new models within the same year. Harley realized that with the baby boomer generation coming to a close, younger audiences will demand new and innovative products. The company, now in its 110th year of operation, has launched a customer driven product development program dubbed â€Å"Project Rushmore† in hopes of succeeding in understanding what design elements are appreciated more by younger buyers (UPI.com. 2013). If they succeed, Harley could feasibly further expand its market share in both US and international markets significantly. Restructuring Plans The Milwaukee based motorcycle maker has succeeded in keeping its full-year shipment forecast intact despite signs of weakness in dealer sales in several markets (Reuters. 2013). In response to this, Harley Davidson has acknowledged the need to restructure the company into a leaner and more cost efficient beast if it is to maintain its market share and keep pace with the competition. Harley hopes to reduce the number of defaults on their loans, improve the company’s cash flows, and improve its liquidation strategy by having at least 12 months of projected liquidity in cash reserves. The company has set an ambitious goal to continue to widen its gross margin figures by nearly a full two percent in 2013 (Reuters. 2013). Harley Recognized that declining retail sales figures could no longer be simply shrugged off as weather related anomalies but were rather a generational decline of the number of loyal riders in the market. This suggests that younger rider’s between the ages of 18-34 are quickly becoming a significant portion of the market. Harley would need to restructure its operations in order to meet the demands of these new riders and develop both a strategy and a product that would appeal to them. Harley Davidson – Weakness (W) Product Recall Issues In late 2011, Harley Davidson recalled more than 300,000 motorcycles to fix a switch problem that presented a safety issue. The switch prevented the brake lights from coming on and could potentially cause the brakes themselves to fail as well (Associated Press. 2011). The defect has already caused at least one crash. As a result, the US Securities and Exchange Commission indicated that they expect that this recall will cost Harley anywhere from 10 to 12 Million Dollars. This coupled with another recall in 2012 for a faulty voltage regulator that affected an estimated 100,000 owners suggests that recalls are costing Harley a sizable chunk of their annual budget. Defects reasons have been tracked back to supplier quality issues arising in the manufacturing production chain. Dependence of Domestic Market Harley Davidson has recently celebrated its 110th year of business within the US. From its onset, it was clear that Harley’s target market was first and foremost the US markets. Much of Harley’s success has stemmed from targeting the baby boomer generation and appealing to big open spaces, the idea of freedom, and the feeling of exclusivity and belonging. Although business has steadily increased for Harley over the past century, it is clear that change is on the horizon. Harley’s competition is ever more aware of foreign markets and consistently devising entry strategies to further expand global market share (Burkey, 2009). Simply put, Harley has been lagging in this area. Harley’s flagship motorcycles carry a significantly higher price tag than foreign competing models making them appealing only to small elite group of riders that can afford the expense. Harley Davidson – Strengths (S) Brand Image Few people cannot instantly recognize the Harley Davidson brand. For over a century now, Harley Davidson has built a positive brand image by targeting a wide range of individuals. Harley Davidson has been continuously ranked among the top global brands in the world, holds over half of the heavyweight motorcycle market share in the US, and is ranked either first or second in the heavyweight motorcycle segment in at least nine countries across Europe (Harley Davidson, Inc. 2012). Historically, Harley Davidson has historically appealed to wide predominantly male audience ranging in ages from early 30s to late 50s. Recently, Harley Davidson has decided to further expand the brand by beginning successful marketing campaigns targeted at an audience of women. With the majority of its ads targeting a relatively specific group of individuals, Harley-Davidson has been able to build a community of enthusiasts around its brand that includes members from very diverse groups, and with almost no advertising. How does the king of heavyweight motorcycling keep its fans so loyal? It gives them a reason to belong (Rifkin. 1997). The symbolism of â€Å"belonging† is a powerful one reinforced by images of riding as part of a pack on the open road. This is further reinforced by a strong positive brand image that individuals frequently associate with superior quality and prestige of ownership. Broad Product and Service Portfolio One of Harley Davidson’s greatest strengths has been a long history of maintaining a broad product and service portfolio. Harley Davidson leverages its premium pricing model supported by a superior quality of its product line up ranging from an extensive line up of heavyweight, touring, custom, and performance motorcycles. Harley Davidson has also been able to successfully keep its owners engaged in personalizing and modifying their motorcycles by offering an extensive catalogue of parts and customization options. When you add the reliability of a two year warranty, and consider the superior level of service afforded to its owners, it is no wonder that Harley Davidson has been able to maintain the upper hand on its competition for so many years. The financial unit of the company has been successful in reducing the percentage of defaults and losses on its in house loans. While the annualized loss experienced on its managed retail motorcycle loans has come down from 1.58% to 1% in the last quarter, the retail 30+ day delinquencies on managed loans has come down from 3.68% to 2.56% (Trefis Team. 2012). Focused Research Harley Davidson continues to dominate market share in the United States commanding over 60% market share for the domestic market. Although Harley Davidson’s targeting of the youth market remains a subject of contention, their strategy remains crystal clear; to keep baby boomers in the saddle for as long as possible (Madson, 2013). To achieve this, Harley Davidson is exploring some concepts that may appeal to aging baby boomers such as a three wheeled Penster concept. The Trike concept has gained remarkable traction over the past few years and Harley Davidson has certainly taken notice. Harley Davidson Strengths and Opportunities (SO) Harley Davidson’s offensive strategy should focus on leveraging the company’s strengths such as its strong brand image and focused research and development to capitalize on opportunities such as further penetration into foreign markets. Harley Davidson is uniquely positioned with a globally recognized brand. This is a monumental advantage when comparing it to penetration strategies from relatively new motorcycle companies such as Polaris. Harley can utilize its strong focused research and development to study foreign market demands and develop a line of products to specifically appeal to that market. This would further help Harley in overcoming another one of its areas of opportunity around new product launches. Recently, Harley Davidson has shown significant progress in their expansion to the Chinese marketplace. Harley projects that within the next five years growing Chinese demand will support the opening of an additional 5 dealerships overseas (Miller. 2012). Growing global demand is proof that not only would this be a good business decision, but it is the necessary next step if Harley expects to keep up with its competition. Harley Davidson Strengths and Threats (ST) Harley Davidson faces some significant threats to its business in the form of changing emission standards for motorcycles, and an ever growing competitive landscape. Emission controls continue to tighten on a global scale making Harleys century long approach to air cooled engines all but obsolete (Huze. 2011). Furthermore, Harley faces some competitive threats from new entrants to the market like Polaris who are actively seeking to tap into Harley’s heavyweight motorcycle market share. Harley Davidson needs to develop a defensive strategy focusing on areas of strength such as focused research and development and broad product and service portfolio to ensure they overcome these threats. One solution would be a proactive approach to changing emission standards. Harley has been toying with the idea of introducing a lineup of liquid cooled motorcycles that would dramatically reduce their ecological footprint (Huze. 2011). Harley Davidson’s superior focused RD would have little issue with finding a way to adapt this new engine to existing models. Furthermore, the infrastructure for servicing these new engines, making adjustments, and maintaining them is already in place with is significant network of service centers around the globe. In doing so, they would not only be ready for any emission control changes that they may face in the future, but also be more competitive across product lines. Harley Davidson Weaknesses and Opportunities (WO) In recent years, Harley Davidson has literally spent millions of dollars dealing with significant recalls and associated issues (Associated Press. 2011). Most notably, two significant recalls that affected a total of more than 600,000 motorcycles over two years. Outside of the obvious cost associated with correcting the issue which is estimated to cost over 20MM over the course of 2009 and 2010, Harley Davidson is exposed to additional legal risk from possible accidents resulting from these defects (Associated Press. 2011). Harley has traced the source of the problem back to defects associated with its parts suppliers. This suggests the need for an improved quality control process prior to using the parts in production. Although this may present an additional cost initially, the reduction from costs associated with recalls off of Harley Davidson’s bottom line would be much more significant. Harley Davidson has already experienced success in its restructuring plans. The addition of inspection points could be seamlessly implemented with minimal impact to its existing business (Reuters. 2013). This would increase the chances of catching defects on parts prior to the parts being shipped to manufacturing. As a result, Harley would experience a reduction in the number of recalls in the coming years. Harley Davidson Weaknesses and Threats (WT) The combination of existing weaknesses to Harley Davidson’s business and the presence of potential threats in the market could potentially spell disaster. Harley should develop a strategy around minimizing their exposure to weakness and the avoidance of existing threats. Harley can achieve this by outsourcing the procurement of raw materials to a larger number of overseas suppliers while being supervised by in-house Harley Davidson quality control specialists to ensure a sustained level of quality of their products (Burkey. 2009). This would help to avoid one of Harley’s largest weaknesses, product recalls, as well as dramatically improve the availability of raw materials minimizing the impact that one single supplier could potentially have on their business (Taylor III. 2012). Furthermore, the fewer amount of recalls and the overall improved degree of quality would bolster the already strong Harley Davidson brand, improving its position in the competitive marketplace (Rifkin. 1997). Citations Associated Press. (Oct. 2011). Harley Recalls About 308,000 Motorcycles For Break Issue. USA Today / Money. Retrieved from: http://usatoday30.usatoday.com/money/industries/manufacturing/story/2011-10-2 4/harley-davidson-brakes-recall/50890560/1 on September 18, 2013. Burkey, Brent. (Oct 2009). Harley-Davidson Time for the tough decisions A plan to restructure core local Harley operations is in the hands of the company.York Daily Record. P4. Harley Davidson, Inc. (Aug 2012). Harley-Davidson, Inc. Financial and Strategic Analysis Review. Global Data. P1-3. Harley Davidson, Inc. (Jun 2012). SWOT Analysis. Company Report. P1-9. P9. Huze, Cyril. (Jun 2011). 2012 Harley-Davidson Liquid Cooled Engines. Cyril Huze Post. Retrieved from: http://cyrilhuzeblog.com/2011/06/17/2012-harley-davidson-liquid-cooled-engines/ on September 17, 2013. Madson, Bart. (Feb. 2013). H-D RD Product Development Center. Motorcycleusa.com. Retrieved from: http://www.motorcycle-usa.com/684/15599/Motorcycle-Article/H-D-R-D-Product-Development-Center.aspx on September 18, 2013. Miller, Paula M. (Jan-Mar 2012). Harley Davidson in China. China Business Review. P41-43. PR Newswire. (Jul 2013). Harley Davidson Post Second-Quarter 2013 Earnings, Revenue and Retail Sales Growth. Regional Business News. P.16. Reuters. (2013). Harley Earnings On Target As Restructuring Pays Off. Chicago Business Tribune. Retrieved from: http://articles.chicagotribune.com/2013-04-25/business/chi-harley-earnings-20130425_1_harley-davidson-inc-winnebago-industries-sales-volumes on September 17, 2013. Rifkin, Glenn. (Oct. 1997). How Harley Davidson Revs Its Brand. Strategy + Business. Retrieved from: http://www.strategy-business.com/article/12878?gko=ffaa3 on September 17, 2013. Taylor III, Alex. (Oct. 2012). The Hurdles At Harley Davidson. Motorworld. Retrieved from: http://money.cnn.com/2012/10/03/autos/harley-davidson-polaris.fortune/index.html on September 17, 2013. Trefis Team. (May. 2012). Harley Davidson Rides To $59 As Growth Hits On All Cylinders. Forbes Magazine. Retrieved from: http://www.forbes.com/sites/greatspeculations/2012/05/03/harley-davidson-rides-to-59-as-growth-hits-on-all-cylinders/ on September 17, 2013. UPI.com.