...PART 1 Company Allocation Ticker symbol | Company | | GICS Sector | GICS Sub Industry | Address of Headquarters | | BEN | Franklin Resources | | Financials | Diversified Financial Services | San Mateo, California | | FCX | Freeport-McMoran Cp & Gld | | Materials | Diversified Metals & Mining | Phoenix, Arizona | | The cost of capital of the aforementioned companies will be discussed in the following questions. The companies will be referred to by their Ticker Symbols henceforth. Question 1 BEN The book value of the company’s liabilities and equity can be deduced from a number of online sources. The US Securities and Exchange Commission (2013) provided the company filings data whereby BEN’s Form 10q, dated 29/07/2013, showed the following (included on page 2 of this report). The book value of long-term debt is $1,252.1 million, and the book value of equity is $10,402.3 million. The schedule of outstanding debt shows that this figure includes $54.5 million of FHLB advances and $1197.6 million of Senior Notes at various effective interest rates. The notes on Stockholders Equity and Non- Redeemable Non-Controlling Interests reveal that Franklin Resources Inc Stockholders Equity totals $9779.8 million whilst the Non- Redeemable Non-Controlling Interests (previously referred to as minority interests) totals $622.5 million. FCX The book value of the company’s liabilities and equity can be deduced from a number of online sources. The US Securities...
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...Integrity System, Internal Control System and Leadership Practices: A Review Study Mohamad Azizal Abd Aziza, Hilmi Ab Rahmanb, Md. Mahmudul Alamc, Jamaliah Saidc* a Faculty of Accountancy, Universiti Teknologi MARA (UiTM), Shah Alam, Selangor, Malaysia b Universiti Teknologi MARA (UiTM) Kelantan Campu, Malaysia c School of Business, Universiti Utara Malaysia c Accounting Research Institute (ARI), Universiti Teknologi MARA (UiTM). Shah Alam, Selangor, Malaysia Abstract Currently, governance in public administration has become a global issue as a result of the continuous stream of governance failures, fraud, inefficiency, corruption, and poor internal control and financial management. Public sectors worldwide are now under pressure to justify the sources and utilizations of public resources as well as improving the performance in their services delivery. Now it is considered as public rights to monitor the transparency and efficiency of public administration. To ensure good governance, understanding the way to improve accountability in public sector is very essential. Therefore, to enhance the accountability in the public sector, based on the literature review this study discusses on the organizational internal factors that has influences on accountability; integrity system, internal control system and leadership qualities. This study could assist policy makers to establish more accountability among different departments and agencies of government. © 2015 The Authors...
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...E-governance: Dream of the nation M. Shoeb Chowdhury Globalisation is the process of increasing connectivity and interdependence of the world's markets and businesses. In the last three decades, two driving forces -- advances in telecommunications infrastructure and the rise of the information technology, and its rapid productivity growth in the global economy -- played a key role in accelerating the pace of internationalisation. Information Technology (IT) dramatically changed traditional business and working patterns in the 1990s. Companies are now redistributing their businesses and jobs around the world. We know that Electronic Governance (popularly referred to as e-governance) is one of the most significant tools for shaping business and economics today. According to The Economist's print edition, February 14, 2008: "Countries like India may leapfrog the rich world. As it becomes clear that getting entrenched rich-country bureaucracies to move towards e-government will be slow and difficult, hopes are turning to poorer countries. Not that their bureaucracies are intrinsically more promising. Even under British colonial rule, Mahatma Gandhi was a severe critic of Indian officialdom. His words of advice are displayed in public offices all over India: "Who is a customer? The customer is the most important visitor on our premises. He is not dependent on us. We are dependent on him. He is not an interruption of our work. He is the purpose of it. He is not an outsider in our...
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...technical-economic mechanisms (Coe, Dicken and Hess, 2008). More than this oversimplified conceptual framework, Levy (2008) argues GPN as ‘simultaneously economic and political phenomena . . . organizational fields in which actors struggle over the construction of economic relationships, governance structures, institutional rules and norms, and discursive frames . . . GPNs thus exist within the ‘‘transnational space’’ that is constituted and structured by transnational elites, institutions, and ideologies’. In Levy’s theory, we can find out that more than a economic process of productions, GPNs is also a ‘social’ and ‘cultural’ phenomena in which the geographically differentiated political and social cultural circumstance are also shaped (Coe, Dicken and Hess, 2008). Considering the consumer electronic industry in particular, what we can see now is that numerous branded firms has evolved as the leading force, such as Apple, Microsoft and HP. Meanwhile, amount of emerging economies became to participate into this industry more and more, therefore turning GPNs into a more complex concept in current globalisation. Since then, there are increasing considerations and discussion related to governance of GPNs, trying to...
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...Universite Abstract: It is estimated that donors commit between US$ 800 million and US$ 1 billion to microfinance per year. This paper analyses the management of microfinance institutions (MFIs) and its relationship with donors’ subsidies. The results show that the level of subsidies granted per year is related to the management quality but not the subsidies divided by the gross loan portfolio or the total equity. Well-managed MFIs are larger and regulated organisations but not significantly older. The organisational structure or the experience of the MFI however does not play a role in determining its financial effectiveness, except for cooperatives. Copyright # 2009 John Wiley & Sons, Ltd. Keywords: microfinance; subsidies; management; governance; nonprofit JEL Classification: L31; M54; O16; Q14 1 INTRODUCTION Formal financial institutions have neglected a large part of developing country populations. Considered as high-risk clients, the poor have been denied access to financial services. Microfinance has been praised during the last twenty years as a new development policy tool serving people who have been excluded from the formal banking system. The financial performances of microfinance institutions (MFIs) have been largely highlighted by the international community (Armendariz de Aghion, 1999; Murduch, ´ 1999a,b; Tucker, 2001; Stephens, 2005; Gutierrez-Nieto and Serrano-Cinca, 2007; Hudon and Lietaer, 2007; Hermes and Lensink, 2007; Vanroose, 2008). However, little research...
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...Project governance is the management framework within which project decisions are made. Project governance is a critical element of any project since while the accountabilities and responsibilities associated with an organisation’s business as usual activities are laid down in their organisational governance arrangements, seldom does an equivalent framework exist to govern the development of project’s capital investments ( Sharma, Stone and Ekinci 2009 ). Project Governance extends the principle of Governance into both the management of individual projects via Governance structures, and the management of projects at the business level, for example via Business Reviews of Projects. Today, many organisations are developing models for ‘Project Governance Structures', which can be different to a traditional Organisation Structure in that it defines accountabilities and responsibilities for strategic decision-making across the project ( Crawford, Cooke-Davies, Hobbs, Labuschagne, Remington and Chen 2008 ). This can be particularly useful to project management processes such as change control and strategic decision-making. The decision making framework of the project governance is supported by three pillars ( Klakegg, Williams, Magnussen and Glasspool 2008 ) namely: structure, people and information. 1. Structure: This refers to the governance committee structure. As well as there being a Project Board or Project Steering Committee, the broader governance environment may include...
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...The Shell Global Scenarios to 2025 The future business environment: trends, trade-offs and choices © Shell International Limited (SIL), 2005. Permission should be sought from SIL before any part of this publication is reproduced, stored in a retrieval system or transmitted by any other means. Agreement will normally be given, provided that the source is acknowledged. The information contained in this publication is, to the best of our knowledge, true and accurate although the forward looking statements herein are by their nature subject to risk factors which may affect the outcome of the matters covered. Opinions from independent experts are presented as their own views in separate inserts with their approval. None of Shell International The companies in which Royal Dutch Petroleum Company and The “Shell” Transport and Trading Company, p.l.c. directly or indirectly own investments are separate and distinct entities. The expressions “Royal Dutch/Shell Group” and “Group” are used to refer to the companies of the Royal Dutch/Shell Group as a whole. The words “Shell”, “we”, “us” and “our” are used in some places to refer to the Group and in others to an individual Shell company or companies where no particular purpose is served by identifying the specific company or companies. Limited, its affiliates and their respective officers, employees and agents represents the accuracy or completeness of the information set forth herein and none of the foregoing shall be liable for...
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... 2. What is information security governance? b. Executive management providing strategic direction, oversight, and accountability for an organization’s data and IT resources 3. What type of policy would an organization use to forbid its employees from using organizational e-mail for personal use? c. Acceptable use policy 4. What is software piracy? d. Unauthorized copying of software e. Unauthorized distribution of software 5. What is information security management? f. Middle management providing day-to-day guidance and oversight for an organization’s information and information resources. 6. Employer monitoring can be a normal term of employment if advance notice is given. g. True 7. What is a standard? h. A list of mandatory activities that must be completed to achieve an information security goal. 8. Which law states requirements for federal agency information security governance? i. FISMA 9. A guideline is a list of mandatory activities that must be completed to achieve an information security goal. j. False 10. Which role is the senior most information technology official in an organization? k. CIO 11. What is a procedure? l. A checklist of actions that should be performed to achieve a certain goal. 12. Which management layer has overall responsibility for information security governance? m. Board of directors 13. What is...
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...Governance Structure Gregory Hladysh University of Phoenix Governance Structure The Sunrise Software Corporation (SSC) operates in 12 countries worldwide with an Enterprise Resource Planning (ERP) strategy that places a Relational Database Management System (RDBMS) in central location in which all departments have access to manipulate. Although the existing design is working, evolving strategic demands forces the separation of domestic System Development Life Cycle (SDLC) from the global SDLC efforts. Financial obligations of the ERP processes makes planning and project management efforts more exhausting with global and domestic ROI calculation using the same budget path. Breaking out domestic projects creates the need for a new hierarchical governance structure for domestic SDLC within the ERP framework, which includes an executive, program implementation, and ongoing operations level. The activities for each level will create roles and responsibilities that will enhance the decision-making process in determining the priorities of the domestic project portfolio. The new SSC process will engage the ERP to take a more critical role in meeting the needs of the organization by having the empowerment to modify the ERP system during workflow processes to bring about relevant change to extend the competitive advantage. It will also facilitate the decision to buy or build when applicable only upon its benefits when compared with domestic competitors based...
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...Summary Electronic Information sharing and social media continues to grow rapidly as a medium for companies to communicate and interact with their customers. They are utilized by 72% of the companies as a marketing/communication medium. One of the main reasons for this success is the speed at which information can be communicated. A study conducted by McKinsey Global Institute indicates that there is a potential to create a value of 900 billion to 1.3 trillion dollars by increasing productivity in the four main sectors: Consumer packaged goods, Retail Financial Services, Advanced Manufacturing and Professional Services. Two thirds of the value comes from better communication and collaboration within and across companies. Both of which can be accomplished from electronic information sharing and social media. Despite the benefits of adopting such technologies, there are risks that companies face. Risks include sensitive information being leaked and unauthorized information being communicated. Companies are finding solutions to deal with this by making the IT and legal departments to work together. Most of the information on social media is unfiltered and created in real time. Until recently FINRA and FDA had legal and regulatory requirements for ensuring that employees comply with public disclosure requirements. The requirements primarily affected the financial and pharmaceutical industries. As legislators recognize the need for accountability, they are drafting legislation...
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...CHAPTER 1 THE PROBLEM AND ITS BACKGROUND Introduction States and nations since the existence of the first known civilization have been struggling to establish stability on the administration of its affairs. One of these, which is inevitable is to suppress corruption that seems to worsen. (Olivares-Cunanan, 2013) Although there is no known document that will lead us to where corruption began and who started this practice, there are already existing documents that proposes how it started and the reason why this exists. Corruption began in the early period as far back as the old Egyptian kingdom. There is also a clear founding that corruption through its most common form existed in other civilizations that existed in the early ancient world. In the Athenian state council, bribery is common in order for the major power the so-called elite to implement what they want. The same practice was committed by roman emperors who used give lands to the senate members in order for the latter body to be on their side. (Freille, 2007). In the modern era, documents from the past that can possibly tell us where and when corrupt practices have begun may seem to be impossible to retrieve, and if ever possible, these documents may have a little relevance to no use at all in the study on how we can curtail at least corrupt practices on the national scale. ( Co, 2007) Defining what is corruption and determining its root cause is one of the center of interest of analysts and international organizations...
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...Executive Summery This report attempts to introduce and analyse an issue in the governance structure module that Octo has experienced. Octo is a company initially started in Italy, and then has successfully expanded globally. The CIO, Giuseppe, adopted several governance modules in order to reach s a stabilised alignment between IT and business, and his role has changed accordingly. Yet, issues still occurring, and the analysis suggests that the governance modules were in appropriate given the organisation’s situation. A recommendation is provided to adapt the federalism governance module as an approach to surmount the issues and effectively align IT and business. Pertinent organisational background Summary of organisation functions and market Octo Telematics, a multimillion value company specializing in providing telematics related services for automotive market. Octo, which was founded back in 2002 by Fabio Sbianchi and Giuseppe Zuco (the current CEO and CIO respectively), has enjoyed a great period of successful growth expanding from Italy its home country to global markets. Within five-year cycle from 2009 to 2013, the company’s financial value tremendously increased 500% attracting equity funds to invest in the promising telematics sector. The secret lays in the technology used by Octo, the core service is a device called On Board Unit (OBU), and the main functionality is to transmit data related to location, time and usage of vehicles in which it is installed....
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...Weak points: Our first point of critique is related to sub header “Innovation through the next generation”. The texts shows clear figures of how many Chinese students went to universities, this amount was growing massively in the period between 1978 and 2012. In 2012 4 million more students enrolled in China than in the United States. This information is really useful but we believe something is missing. There is no explanation of how this could happen and why this growth was so rapidly. So we think that the authors should have explained this part more detailed. In fact, they should have explained what the differences where in the beginning in China compared to the United States and compared that to the differences later. With the help of this information we could have seen why the growth in China was so rapidly and why Chinese people started to enroll at universities. Secondly, we do not agree with the statement: “the best leaders are those with the broadest education in liberal arts”. Liberal arts is education that is not focused on specializing but on the entire package of management. We think that if every manager knows a little bit of everything that the quality of products and services would be relatively low because the managers do not have sufficient knowledge about specialized things, so without that knowledge they are not able to run the company or a specific division. So we think that managers should have specialized knowledge of their division or they should have...
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...ASSESSMENT OF THE IMPACT OF SERVICE CHARTERS ON SERVICE DELIVERY IN MALAWI – A CASE OF SOUTHERN REGION WATER BOARD BY RASHID FRIDAY NTELELA (201004511) A DISSERTATION SUBMITTED IN FULFILLMENT OF THE REQUIREMENTS FOR THE MASTERS DEGREE IN PUBLIC ADMINISTRATION TO THE DEPARTMENT OF PUBLIC ADMINISTRATION IN THE SCHOOL OF PUBLIC MANAGEMENT AND DEVELOPMENT, UNIVERSITY OF FORT HARE, BISHO CAMPUS SUPERVISOR PROF. E.O.C IJEOMA 20th January, 2012 1 DECLARATION I, Rashid Friday Ntelela, hereby declare that this research thesis is my own original work, that all reference sources have been accurately reported and acknowledged, and that this document has not previously, in its entirety or in part, been submitted to any University in order to obtain an academic qualification. Rashid Friday Ntelela 20th January, 2012 2 Table of Contents DECLARATION ............................................................................................................... 2 DEDICATION .................................................................................................................. 7 Acknowledgements ......................................................................................................... 8 CHAPTER 1 1.0 1.1 1.2 1.3 1.4 1.5 Introduction............................................................................................................ 9 Statement of the Problem .................................................................................. 11 Research...
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...CHAPTER I THE PROBLEM Introduction “A politician is a man who understands government, and it takes a politician to run a government” Harry S. Truman (1884 – 1972). The issue of political seems to be an endless case of trial and error. New leaders, new management but it seems to be that they never found the best leaders for the government. People are just aware of what they see but they never through the root of all problems, the problem is not the government itself but the people behind it. There were official positions whose function was to serve the community. Today’s welfare is not only achieved through individual efforts but through the leadership styles of chosen state heads. These leaders have various qualities and styles which may or may not, contribute to or benefit the society. One quality of an effective leader is his feeling of oneness with his people. To say that the leader has an explicit understanding with his people, he must first be one with his people. A common vision and goal may emerge that could suit the needs and welfare of everyone. Man is a social being. He can be weak and need support of communal living. His capabilities and form of expression are inseparably linked to the existence of others. Wise socialization is achieved not through repression but through social interest. Development is not achieved with the efforts of few persons or by the government alone. For it to be real, every member of the society must participate in order to achieve the...
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