...several dimensions of the shareholder-principal conflict with manager-agents known as the principal-agent problem. To mitigate agency problems between senior executives and shareholders, should the compensation committee of the board devote more to executive salary and bonus (cash compensation) or more to long-term incentives? Why? What role does each type of pay play in motivating managers? There are several dimensions to the principal-agent conflict. Principal-Agent Relationships exist whenever one person or party works in the interests of another party. The owner (the principal) hires and often delegates decision-making authority to professional managers (the agent) to perform tasks on his behalf. The challenge for the principal is to create an environment in which the agent has incentives to align their interests with those of the principal. The principal typically creates incentives for agents to act as the principal wants. The principal-agent conflict acerbates when the incentive system creates a conflict of interest, the principal cannot ensure the agent is performing exactly the way the principal would like and due to the intrinsic unobserved managerial effort and the presence of random disturbances in team production. The lack of information shared between the two makes it impossible and expensive for the principal to monitor the decisions and performance of the agent. The agent usually has less to lose than the principal; therefore they often seek acceptable...
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...Arthur Anderson 1. Environment, strategic, organizational changes * High quality accounting, promoting integrity and sound audit opinions over short run profits * 1930’s- government adopted laws that require public companies to submit financial statements to independent auditor each year * mantra- good service, quality audits, well managed staff, profits for firm * auditors rewarded for making sound auditing decisions * decision rights to Professional Standards Group * firm did not become wealthy in the early years, partners were well respected in communities * 1950’s- Joseph Glickauf- computers to automate bookkeeping * 1979-42% of $645m fees came from consulting * 1989- split to AC and AA * accounting business grew slowly in 1990 due to increased competition and mergers * AA adopted new strategy of generating profits, “it was a matter of pride” * New rules- partners retired at 56, less experienced auditors and fewer partners overseeing audits * New breeds of partners- Samek, Allgyer, signing off on inaccurate financial statements * 1997- AC split completely and became Accenture, AA underwent setback when they didn't receive the $14b expected payment from AC * AA- 2X performance evaluation, relaxed dress code, wooden doors removed * New service- take over entire internal bookkeeping for clients- impaired quality of audits * Enron-1986, wholesale energy trading * Anderson hired Enron in 1990 * Speed...
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...success of the program. Those factors were finding the right mentor, Aligning instructional-support efforts and Partnering with principals. The first factor is finding the right mentor. Barlin points out that first and for most a good mentor has to first be good and effective teacher. The problem is that many schools and distracts are not equip or have the proper structure to asses who is highly effective or strong in student outcome. In those schools that can the problem them becomes willingness to pull that teacher out of the classroom to mentor. Aligning instructional-support efforts is the next key factor in a successful program. Barlin makes a connection with aligning instructional support with that of a communal tree. Everyone want to water it, in hopes to see it thrive but if there is not proper coordination then the tree will drown. Here the new teacher is the tree and the those willing to help water the tree are the literacy and math coaches, university supervisors, data specialists, special education counselors, technology coordinators, different frameworks and policies. The mentor and distract frameworks are there to support and coordinate all that want to water the tree so that the tree does not drown. Lastly, a program needs to partner with the principal in order to work. Barlin points out in the article,, that the job of the principal is evolving and demanding, often at times coming without...
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...effective leaders as well as their behaviors. Principle 1. Leadership for change is most effective when carried out by a small group of educators with the principal functioning as a strong cohesive force. Principal plus a strong leadership team operate as key players and working with a dedicated group of classroom teachers because teachers must be involved in day-to-day decisions that affect their day-to-day lives (Marzano, R. J., 2003). For example in creating a guaranteed and viable curriculum, it is important that the principal assumes the role of visible head of this reform effort with the ability to mentor and guide direction for a leadership team and all teachers. Time is a factor that yields success when information is shared in a routine and timely manner. Even though obstacles may arise, the principal can offer adequate information in time for planning the curriculum teachers are responsible for, such as assessments and activities for higher order thinking from students. Effective leadership is present when teachers know the principal is time conscious of what improvements are needed in the months to come and shares this in a collegial manner. With artifacts from the school year such as student reports, test reports, and other forms of reflection on components of the educational program, the principal can be conceptual in sharing information and evidence, leading the team and teachers to relevant changes for improvement ahead of a...
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...15, 2014 For this discussion board post we are to discuss the topics of Agency Law and the different principals and ideas that go along with it. There are three types of principles that exist; they are disclosed, undisclosed, and partially disclosed principals. A disclosed principle refers to when there is a 3rd party involved. The person/people are not hidden by the company to the person or persons that they are working with. For example, Let’s say you have a bill and you have not paid it, the company that you had the bill will originally may turn your account over to another collection agency and they would in turn contact you and let you know that your account has been turned over to their company to collect the debt on behalf of the original company. When it comes to an undisclosed principle, it’s just that, not disclosed, no information is given on that agent. They still are working either on their own behalf or through a company and do not want their information public. For example, if I was under an undisclosed principle I would not go into a meeting and say, “I am here on behalf of Yellowstone National Park”. This information would not be given out. For a partially disclosed principle, at the time of the deal, the person may know that the other person he is dealing with is portraying themselves as an Agent but does not know who the main source or principal is. For example, if I am speaking on behalf of a national park and I am trying to build a new park, if the...
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...born in the religious house hold it was God first and then your parents. For those of us who grew up without knowing God it was our parents. Our first teacher and leader. We learned to function as a family unit when your parents instructed you to learn how to cook and clean. These actions allow for the parents to be freed to do other task. Performing these tasks showed us how to follow leadership and by performing these task lightened to load for our first leader – our parents. This is the same principal that applies now as adults. We learn to perform task at our jobs, this is to uplift the company and the reward for us is a pay check weekly, monthly, or biweekly. This should be the same attitude we present as Christians. If we believe that we are all one body in Christ we should be able to do anything we can to glorify Christ. Assisting our leadership is no different. If we believe that God has placed us in a church where there is leadership that follow God’s principals we should understand that anything that is asked of us as members comes straight from God and is utilized to edify the body of Christ. Sometimes we get stuck in our own way of thinking – the world’s way. But if we look at it in a biblical since we should understand that the things that we do for Christ will last. Cleaning the church, beautifying the church, are a couple things that bring God glory. The church leadership is unable to do it alone. We as members and leaders should always try and find...
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...February 5, 2009 Jack Britt High School Attn: Assistant Principal-(“intuitive-feeling” personality type) 7403 Rockfish Rd Fayetteville, NC 28306 Dear Assistant Principal: I had the pleasure of visiting Jack Britt High School and collected data about how the teachers’ feel about issues within the school. The following questions were asked to teachers’ at Jack Britt High School: • How strongly do you believe you should be involved with students’ issues? • How do you think the administration staff views the role of the teachers’ with respect to decision-making and policymaking for students’? • Do you believe you will be replaced if your students’ state test scores are low? The majority of the teachers’ feel they should be involved with students’ issues and that they can’t speak freely to the administration staff about end of grade test scores. Their total focus is their students’ test score. Many teachers believe if their students’ scores are low they will be replaced. Although Jack Britt is one of seven public high schools in the state that serves students in grades 9th through 12th that scored are at or above 90% on End-of-Course Test their teachers’ turnover rate is very high. I believe the lack of communication among teachers’ and administration is reason for the high teachers’ turnover rate at Jack Britt High School. The teachers in form me that you believe that all teachers should invest in continuing self-analysis and self-education to...
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...pointed out the importance of studying leadership styles because of its significance in an institution's success. Educational process is to achieve its goals, it needs teachers with high motivation. At the same time, teachers need support to increase their satisfaction and motivation, and this will come about through principals' effective leadership style (Johnson, 2007). The purpose of the study is to know how some principals prefer embracing certain leadership styles and the effects it has on teachers motivation. It is also to find outcome of desired leadership style by the principal towards achieving the school goals. It is of good interest to know the reaction of teachers to the principal whether negative or positive. It is also aimed to determine the relationship between teachers motivation and the leadership style of the principal. Further, the extent to which the various leadership approaches adopted by elementary school principals has influenced the teaching learning situations is an important area of investigation. The study will also enable us to examine the influence of the relationship on the schoolwork and to examine the nature of the principals’ behavior towards the teachers and students. It enables us to examine the crucially of human inputs such as teachers to school organization and the damage a principal’s bad behavior may do to the school...
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...Ethical Principals of Cancer Cell Research Brian Bocock PSY/305 March 9, 2015 Dr. Joycelynn Flowers-Ashton Ethical Principals of Cancer Cell Research October 4, 1951 has become one of the most memorable dates in the eyes of cancer cell researchers. On that date at Johns Hopkins hospital a destitute African-American woman named Henrietta Lacks passed away due to cervical cancer. Henrietta left behind her husband, David, and their four children. At only 31 years of age, this woman was going to be extremely influential in cancer research, and she had no idea. The worst part was neither did her family. Her cells were like no other cells ever seen and have provided for exceptional results for medical research since her passing, including the polio vaccine. However, the debate is over researchers taking her cells without her consent and made no immediate family members until 19 years later. Bringing this situation to the forefront of the implications and role ethics play in research today. Since the early 1970’s the story of Henrietta Lacks and her dominate cells has provided a great debate on a topic that will forever be in question, ethical principals. Dr. George Gey is the doctor that obtained the cells in order to find a cure for cancer. He was a great professional, I believe, that wanted nothing more than to find a cure for cancer, including profit. Because of this he wanted to keep Henrietta’s name private due to her passing and the understanding of a lawsuit by the...
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... PHI 208: Introduction to Philosophy October 6, 2013 I think it is very necessary to have universal ethical principles. Differences in culture can bring about different concepts of values and morals based on a person’s environment and upbringing. It is for that one particular reason that I feel Universal ethical principals are required in order to maintain peace and equality as far as respect goes. As human’s we can be very judgemental, especially when it comes to things, or customes we are not familiar with. It is bad enough that judgment can be made based on race, gender, and sexuality. Having universal ethical principals to live by, will help us approach those differences maturaly and further protect the right’s that we need to live as we choose, and practice what we believe in. What I feel is right, might not necessary be right to the next person. Therefore there needs to be some type of ethical principals in place so that we can respect each other’s opinions and culture. In this paper I will explain the importance of having universal ethical principles, the pros and cons that the issue addresses, while providing an argument that state’s my point of view from the two perspective. Ethics allows us to reflect and make critical attempt’s , which leads to finding a common ground for reasonable moral beliefs. Our opinions would simply be opinions,if...
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...Being principal for a day would be a profound experience; and it would be difficult to think of what exactly I would do as there are so many different possibilities. Issues such as lunch quality and prices, school hours, teaching techniques, and discipline along with a vast array of other areas that need attention come to mind. I would not be able to do everything, but I would do my best to touch on the issues that deserve focus. This essay will explain some of the things I would attempt to accomplish as principal for a day. One of the first things I would alter are the hours of the school day. I believe that with the demands such as a heavy workload and extracurricular activities, school hours should be made shorter and more flexible to accommodate these things that are expected of kids. Doctors recommend a minimum of 8 hours of sleep for children and teenagers. Because of these facts, making school start later and end earlier would help ensure kids will have more time for rest and recuperation. This would in turn require the school year to be longer, but I believe it would be a more effective way to get students to perform at a higher level as they will be better rested and better equipped to meet the demands of a strenuous school day. Another topic of interest as being the principal for a day would be a focus on school lunches. Students seem to have a high demand for more appealing lunches from the cafeteria. Items such as nutrition, quality, and prices...
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...China and India Population Trends BUS 330: Principles of Marketing Dr. Felix Lao Michael Samaritano August 20, 2014 China and India are two of the world’s largest and fastest growing countries in todays Major emerging markets. (White, 2012) The tremendous population growth happening in China and India is millennial consumers driving trends toward western-style consumption in both nations, which are due to the youth markets in the United States over the last 60 years. Marketers in these newly youth-oriented consumer economies (White, 2012) are predicted to be growth-oriented and very savvy. It would be a good strategy to duplicate the same direction in order to remain competitive. It would be an effective strategy to research market requirements in order to understand the trend and to effectively position our placement in the market. The aim is to identify products and services that would prove to be of important interest for the target audience. The Products that will interest this age group are various kinds of products, ranging from hygiene, such as acne remedies, video games, favorite beverages like “Rock star,” and of course, electronics like IPhones, IPads, and Google glasses. This is why it is very important to stay with the trends to continue to keep up with their demands; Youth markets will continue to look for the next big thing. The micro and macro environment is the driving force, and is what influences the marketing strategies for the youth targeted...
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...Dorothy Green Dr. ISLEY Eco 100 May 2, 2013 Suggest how an economist would approach the problem of alcohol abuse. The economist approach this problem of alcohol abuse by using a genuine case of negative externalities both in production and consumption. Alcohol abuse and its related problems cost society many billions of dollars each year (1,2,3,4). Estimates of the economic costs of alcohol abuse attempt to assess monetary terms the damage that results from the misuse of alcohol. These costs include expenditures on alcohol-related problems and opportunities that are lost because of alcohol. First researchers attempt to identify costs that are caused by, and not merely associated with, alcohol abuse yet it is often hard to establish causation. Second many of the causes resulting from alcohol cannot be measured directly. The economist may also try these different approaches, like scoping out the Cost of Alcohol Abuse, Health-Related costs, Treatment Cost, and the Death rate. They treat alcohol abuse as being in the same category as drugs, tobacco use and gambling. Binge drinking is another form of alcohol abuse. As frequent binger or drinking or getting severely drunk more than twice is classed as alcohol misuse. Alcohol can harm a person’s health, interpersonal relationship, and even your ability to function in every day functions like work, going to school and other daily activities. If a person driven while drunk...
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...The Principles of Negotiation Abstract It is said that negotiation is an art that requires a good amount of study and a lot of practice to be able to do it successfully. This paper will show the basic guidelines that can help a person responsible for negotiating. It is said that whenever two or more people exchange ideas in order to reach an agreement or understanding, they are negotiating. It does not matter if this discussion is in the living room of your home to decide what program you will watch or between two companies over what will be the breakdown of funds in a joint business venture. As we have learned during this class whether the Program Manager is asking for resources, negotiating with a vendor, or dealing with conflicts on the team, he will need to be a skilled negotiator. In 1968 Mr. Gerard Nierenberg wrote a book titled “The Art of Negotiating: Psychological Strategies for Gaining Advantageous Bargains” (1968), in it he states, “Any successful negotiator must be familiar with human behavior and able to correctly anticipate their opponent's beliefs. They must then be able to use the right techniques and tactics to satisfy both their and their opponent's needs.” Nierenberg calls this the "Need Theory of Negotiation." This paper will show that negotiation is not a game but a way of life for successful program management. When you are tasked with managing a diverse team made of people from all over the company that do not really belong to you, negotiation...
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...alancing Supply and Demand Considerations Introduction HRP should strive for a proper balance not only between forecasting techniques and their application, but also between the emphasis placed on demand considerations and that placed on supply considerations. Demand considerations are based on forecasted trends in business activity. Supply considerations involve the determination of where and how candidates with the required qualifications are to be found to fill vacancies. Determining Human Resource Gaps This step involves comparing the workforce demand forecast to the workforce supply projection. Gap analysis identifies situations where demand exceeds supply, such as when critical work demand, number of personnel, or competencies will not meet future needs. It also identifies situations when future supply exceeds demand, such as when critical work demands, number of personnel or competencies exceeds needs. In either event, the organization must identify these differences and make plans to address them. It is important to note that calculating gaps and surpluses will simply provide the organization with data in terms of what needs to be done. It is the actions that the organization decides to take to address these gaps and surpluses that results in the workforce plan. Comparison of forecasted labor demand and supply A comparison chart can be developed to find what is available and to what extent it can fulfill the demand forecast. This exercise helps us have an idea of...
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