The Ethics Codes Of Uk - 1928 Words

2 It’s trust-worthy and reliable to have independent and unbiased auditors confirm that an organization’s claims about its financial position and the process behind these claims are true and independent. The most important element for the audit report and opinion should be free bias. In order to achieve this goal, auditors need to be objective. Auditor, as one part of the professional accountancy bodies, is required to obey the ethics codes, which ensure the auditor to be independent. Furthermore, the ethics codes of UK utilize a principle-based framework approach to outline the circumstances and assess whether the appropriate safeguard can be carried out to mitigate the threats in order to achieve acceptable level of independence.†¦show more content†¦However, when the threats are unable to eliminate, the auditor should not carry on reporting auditor opinions. The ethics codes also provide categories of threats of independence. The first one is self-interest threat. This occurs when there is a conflicting between the auditor’s financial or other self-interest and the clients’. The financial or other interest will inappropriately influence the professional auditor’s judgment or behavior. For instance, if the auditor has close business relationship with the audit client, that is a self-interest threat. Furthermore, a potential engagement with an audit client and contingent fees relating to audit engagement are also the examples of self-interest threat. The second one is called the self-review threat. This threat occurs when there are previous judgments or products made by other audit or non-audit organizations. Then the auditor needs to re-evaluate it to issue a new audit opinion. Furthermore, the self-review threat also occurs when the auditor were previously a member of the auditor’s client who made influence over subject matter of the audit report. Then, self-review thread includes preparation of original data used to generate financial statements or preparation of other records that are the subject matter of the audit engagement as well. In the question, Transval Ltd requires the auditor to assist with the preparation of both the company’s corporation tax return and the director’s personal tax

What Is Franklins Argument in Remarks Concerning the...

â€Å"Remarks concerning the savages of North America is a part of Early American Literature that highlights Franklins criticism of the Native Americans being referred to as savages. This essay is based on Franklin’s experiences with the social and cultural nature of the Native Americans. Franklins description of native life are described in such a way as to emphasize some of the failings of his own western society. This essay was written in 1784. In this remarkable essay Franklin makes observations on how the society of Native Americans differs from that of white English America. The main point that Franklin was aiming for is that Native Americans are anything but savages. Franklin wanted to convince people that just†¦show more content†¦They then would wait a little bit after the person was done speaking to recollect his thoughts and continue if he has left anything out. They see it as highly indecent to interrupt the speaker. â€Å"The colonist used the concept of the noble savage as a furthering of their own esteem and measuring their progress as civilized people. Although they never doubted that they were the superior culture, the settlers realized they could learn from the Native Americans who knew how to survive in this strange New World. Franklin goes even farther in his argument and points out that, in some regards, the Native American culture and its people are even more polite than the British. The Indians did not allow their young men to go to Williamsburg college because the Indians felt that the white man had no moral values when it came to living in the wilderness, building cabins, or be teachers and counselors to their young. Another example that Franklin touched on was when the Susquehannah Indian chiefs and the Swedish minister exchanged stories of how the the earth and mankind were created. The Swedish minister held a service for the Indians telling them about our English god and I am quite sure he was trying to convert them to Christianity. The Indians acknowledged his religion but declined to use it in their society. The Indians responded with a story of their

Black Bear Ursus Americanus Essay Research Paper free essay sample

Black Bear ( Ursus Americanus ) Essay, Research Paper There are 8 sorts of bears ( Ursus ) in the universe but I chose the North American Black bear ( Ursus americanus ) . I will be covering general information about the bear such as their size, weight, colour, nutrient, etc. , but I will dressed ore chiefly on the hole uping rhythm of the black bear. There are from 400,000 to 750,00 black bears in North America, and they weigh from 130 to 660 lbs with a organic structure length of 50 to 75 inches. Their colourss vary from black, cocoa brown, cinnamon brown, pale blue ( known as glacier bears ) to white. Black bears will frequently hold a brown muzzle and may hold a lighter colour spot on its chest. Its pess are equipped with strong, extremely curved claws. They? rhenium omnivores ; eating nuts, berries, fruits, insects ( particularly emmets ) , cervid and moose duns, carrion and in coastal countries on engendering salmon. Their home ground includes woods with occasional unfastened countries such as hayfields. We will write a custom essay sample on Black Bear Ursus Americanus Essay Research Paper or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page They occupy all of Canada get downing from the tree line traveling South. They live in all states and districts except Prince Edward Island, where heavy de-forestation has happened and sooner off from brown bears ( larger rivals ) . The lone chief hazard for black bears are poachers who sell their parts illicitly to the Asiatic medicative market. In northern countries of Canada, the bear undergoes a singular metabolic transmutation as it prepares for hibernation. Hibernation is an energy-saving procedure bears have developed to allow them last for long periods when there is deficient nutrient available to maint ain their organic structure mass. When they halt feeding and go progressively unenrgetic, the bear will come in a cave ; excavation out a lair ; or hole up in a dense coppice heap, hollow log or tree pit and hibernate. Right before it does this it starts to derive weight so it can last the long months in front. It can derive every bit much as 30 lbs per hebdomad. The bear hibernates between four to seven months. When it? s in a hibernating province the bear? s bosom rate beads from between 40 to seventy beats per minute to merely eight to twelve beats per minute. Its metamorphosis slows down by half, and its organic structure temperature reduces by 3 to 7 grades Centigrade ( 5 to 9 grades Fahrenheit ) . Besides its organic structure doesn? t release any wastes like urea or solid faecal waste but alternatively it? s recycled into useable proteins. During the hibernation period grownup males and adolescent bears lose between 15 % and 30 % of their weight while a female greenhorn with newborn loses every bit much as 40 % of her weight. Most black bears vacate their winter dens over a one to two month period get downing in April or May. Both the climatic conditions ( snow screen and temperature ) and physiological factors such as the bear # 8217 ; s age, the position of its wellness and its staying fat militias affect the clip it comes out. Normally, grownup males emerge foremost. Females with newborn greenhorns are normally the last 1s to go forth their lair, and go on with their life rhythm. Bibliography I merely used the web to happen information and these are the sights I visited: hypertext transfer protocol: //www.nature-net.com/bears/black.html hypertext transfer protocol: //www.bearden.org

Strategic Management of Popular & Largest Home Furnisher Retailer IKEA

Questions: Analyse and evaluate the current strategic situation of IKEA (emphasising the benefits and problems). You may consider the following aspects:1) What overall strategy the company uses? In your opinion, is this the correct strategy? How responsive is the company to differences among nations? Why the company is active in specific markets and not in others? What are the key challenges facing the company? (1200-1400 words)2) Suggest alternative strategy directions and indicate which strategy you find most promising and suggest how the company may go about implementing this strategy. Answers: Introduction In this research, one of the popular and largest home furnisher retailer IKEAs strategy is analyzed by providing a general and competitive analysis. The corporate strategies are scrutinized with its effect on 313 stores in 37 countries in 2010. IKEA provides a basic model that has not only moved in different places but with success (Lutz, 2015). The IKEA business model presents a broad range of home furnishings with functioning quality and price that makes affordable for people with various tastes, dreams, needs and aspirations (ikea.com, 2015). However, IKEAs corporate strategy will be examined based on the partnership with the customer in specific markets among different nations with responsiveness to key challenges faced by the company. Moreover, devising the strategy from the current strategy, which will be promising at the end. IKEA Generic Strategies for Business The basis of business strategy is based on the strategic management done by the top management of the company involving performance and resources in the external environment to achieve the objectives. Strategic management is based on the competitive organizational environment and knowledge of the firm to take right decisions (Hill et al., 2014). IKEA just like ALDI, one of the upcoming supermarkets in Australia follows a Cost Leadership and Differentiation Strategy. IKEAs main foundation for pursuing a cost leadership strategy is primary to the targeted market segment that is in search for fashionable household furniture and accessories and about customers demand, the company offer a combination of good design, acceptability and functionality at lower prices. The following concept of the company applies to every phase of activities and can be explained with the help of figure 1 (Pena Ricart, 2015). Figure 1 Mapping System Source: (Larsson, 2015) Though IKEA specializes in cost leadership, it also differentiated products that asks its target customers to enjoy the shopping experience in a store while making the customer comfortable in a way by offering playrooms for children in-store, wheelchairs for old customers. However, IKEA offers products and services for minor things that can help IKEA to retain its customers. One of the ways can be with the help of Sweden shops outside stores offering specialty to customers who are young, likely to have children and need to shop outside of standard hours (Wit Meyer, 2010). Situational Analysis A situational analysis is the best guide to study the business strategy of IKEA. However, it can be done by applying different modules and tools like PESTEL, SWOT, and Porters Five Forces, which will briefly elaborate the strategic analysis. PESTEL Political- The political climate of United Kingdom analyze the taxation, tariffs, customer protection legislations and trade restrictions but holds negative regarding labour industry. However, as far as IKEAs business environment is concerned across nations, it is politically stable in Europe and America but does not operate in Africa due to political volatility (Harapiak, 2013). Economic- The economic factors of IKEA is based on industry specific economic growth. However, weakened economies have affected consumers disposable income in Europe and the vast disparity in cost of labour in China and Poland is accessible in US or London have influenced IKEA. Other factors are distinctive in nature with each country referring to wage rates, inflation rates and interest rates (Frynas Mellahi, 2015). Social- The demand for useful low cost furniture is prevalent in inter-country migration, and that is where most of IKEAs business is found. However, IKEA is majorly affected by changing social trends, transportation network, and infrastructure during hard economic times, which leads to the slackening of markets rate of growth but otherwise it provides a positive impact. Nevertheless, the product range of IKEA reflects openness in Swedens healthy life (Ayodele, 2013). Technology- Technology acts as a business tool for IKEA because of adoption of data website to view online catalogues and correspondence with customer service team to keep pace with global networks from suppliers to distributors (Fredman Nilsson, 2015). Environment- IKEA is not only sensitive to the environment but also follows in making the best use of energy and raw materials. The company achieves its overall positive impact by keeping its cost down and achieving its green targets like reducing pollution, etc. (Ayodele, 2013). Legal- IKEA performs its functions in international business where it is governed by many laws and regulations. The threat can be imposed when third parties initiate legal battles that results in implications in consumer rights, court injunctions, damages, and fines. Employee protection acts are also considered legislative issues in some countries (Frynas Mellahi, 2015). SWOT The other tool that can be assessed is SWOT analysis that is given using the figure 2 below. Figure 2 SWOT Analysis Source: (Albarrak, 2012) Competitor Analysis (Porters Five Forces) Figure 3 Michael Porter's Five Forces Source: (Hamid, 2014) Competition in any company is based on competitive forces that define the Porters five forces. Rivalry among existing customers is high when it comes to a global market of markdown furniture and the premier players in the market are namely Euromarket Designs Inc., USA market Cronin, Wal-Mart Stores, Cratel Barrel, Ethan Allen market and many others. Though the competition is great IKEA remains the acknowledged market leader in the industry of discounted furniture (Hamid, 2014). The threat of new entrants is low because IKEA applies a low cost strategy and any firm who enters the market needs to have a unique brand name and vast supply chain in the name of low prices to compete with IKEA, which in insubstantial as the current market is inundated (Leavy, 2102). The bargaining power of buyers is highly strong as the competition is quite high and customers possess a wide variety of substitute preferences. However, the alternatives are here from global retailers as well as local producers of furniture (Ayodele, 2013). IKEAs competitors have the low bargaining power of suppliers because the company maintains long-term commonly beneficial relationships with suppliers to meet the ends of the customer that promptly responds to the changing trends in the market. In addition, IKEA possesses numerous factories across the nations with resources and potential to structure partnership with IKEA. The threat of substitute goods is considerably low because there are not many products and services that can replace home appliances or demand for furniture (Harapiak, 2013). Internationalization of IKEA IKEA applied a risk-reducing approach initially to enter a new potential market. However, in the case of IKEA, a supplier was linked to the Swedish market that could provide political, legal, financial and cultural issues that could provide opportunities and threat in the external market. However, IKEA adopted internationalization expansion through franchising which has relatively small and high-risk markets that applied the intermediate mode of entry where franchisor was responsible for marketing, centralized control, production and R D. Franchising is considered a good way to transpose name, concept and standing (Hollensen, 2014). Nonetheless, if looked at the broader concept, IKEA internationalization has three phases namely explorative internalization, rigid replication, and flexible replication. The timeline can be shown in figure 4 below. Figure 4 Timeline of IKEA's Internationalization Process Source: (Jonsson Foss, 2011) However, IKEAs current replication mode may begin from the difference between IKEAs Idea Concept and Concept in practice. This difference not only highlights the IKEAs thinking of hierarchical process but also throws light on the embodiment of some features to be fixed while others are certified flexible. The term flexibility comes from the dissimilarity in the local market and the need to amend replication under the influence of new and advanced learning. The replication strategy follows two stage of flexible replication. One is explorative, and the other is exploitative in which the future is full of opportunities where it is nourished by IKEA system belief to search for superior solutions (Jonsson Foss, 2011). Internationalization in Europe was different from rest of the world because internationalization in Europe was accompanied by marketing satellite, pure global strategy and country offices. Nevertheless, the same cannot be said for rationalized manufacturing rest of the world where methods like rationalized manufacturing g were used for wholly owned subsidiaries. Franchising in North America is hard to capture because of currency movements, free deliveries, and easy payment options but it was gradually done when certain adaptations were made according to culture and economy. Asia, on the other hand, posed problems like pricing strategy, intense domestic competition, and corruption but it soon was adapted to the creation of supplier relationship (franchising) and understanding of local needs (Goenka, 2010). However, lately, IKEA adopted different modes to entry which is explained in figure 5 below. Figure 5 Modes of Entry Source: (Suwaris, 2013) International Environment The four strategies that IKEA has adopted to deal with international business environment is due to local responsiveness and cost reduction. The figure 6 below explains the strategic choice of IKEA. Figure 6 Strategic Choice Source: (Suwaris, 2013) International Business level strategy- This approach emphasizes the acquiring of markets in advanced economies and the will to acquire more economies especially developing economies to realize the greater gain from the competitive advantage (Suwaris, 2013). Multidomestic Strategy- This strategy involves getting maximum local responsiveness through customization of marketing and product strategy using a decentralized authority structure. This strategy bears high-cost structures and lacks core competencies (Lakshman, 2013). Global Strategy- IKEA has a diverse distributional network that ensures timely delivery of products to retail stores by exploiting control points in the cycle of distribution. IKEA has a significant network of suppliers with close immediacy to raw materials and distributional channels that not only helps in gaining advanced knowledge but continuously enhance operational efficiency and flow facilitation of information. The company on a general view responds to emerging tastes and preferences with more emphasis on product lines that appeal to locally based customers (Mittal, 2013). Transnational Strategy- To meet the conflicting demands of the company, one strategy that needs to be adopted globally is that IKEA deals with both cost leadership and differentiation strategy with a competitive advantage. IKEA relies on standardization of products, and the system is known as democratic design through which producers can meet the demands of the local consumers. Nevertheless, this strategy is difficult to facilitate and implement (Hitt et al., 2012). The figure 7 will help in enlightening the achievement of the translational strategy of IKEA. Figure 7 Transnational Strategy Of IKEA Source: (Suwaris, 2013) Alternative Strategy Directions of IKEA The alternative strategy decisions IKEA has made is in the corporate social responsibility area known by Sustainability Strategy for 2020, People, and Plant Positive. However, this strategy helps in using sustainability in driving transforming business, innovations, shaping investments and letting loose new business opportunities. This strategy will not only strengthen the competitiveness but bring change in society through long-standing access to raw materials, deepening relationships with employees and customers, maintaining and developing supplier base and increasing productivity (Bouvrain Sarka, 2015). However, IKEA has identified three drivers of change that will transform the business making it more sustainable. Firstly by inspiring and enabling millions of customers to live a sustainable life. Secondly, by striving for energy and resources interdependence and lastly creating a better life for the people by extending the code of conduct through value chain (ikea.com, 2015). The adoption of sustainable competitive advantage should possess valuable resources, rare resources, imperfectly imitable resources and non-substitutable resources in the strategy making process. The change can be assessed based on the competitive inertia of the alternative strategic decision taken. Nonetheless, IKEA adopted a sustainable strategy because of the successful competitive practices that are cost leadership and differentiation strategies. Nevertheless, an effective change is possible if it takes place at the highest level of the company, which is the best way of reinventing the marketing strategy. However, the unique methodologies can build up a pertinent theory to tackle the complexity and uncertainty of current markets (Gummesson et al., 2014). An effective way of alternative strategy decision can be based on the efficiency of alternative course of actions. The following actions can be explained with the help of the table below. Alternative Courses of Actions Advantages Disadvantages Developing Research and development Programs Investment in R D will give better ideas on current trends, needs and behaviour of the entire market Expensive in execution and could possibly effect price rate Promotional activities to be implemented Creating attention and store traffic for more sales and customer loyalty Deregulated promotional activities might end up for customer disloyalty due to expectations of loyal customers Merging with potential local companies to strengthen financial competence Experience and knowledge of the maket Conflict of different principles and cultures Source: (Kwong, 2011). Conclusion IKEA is one the popular home furnishing company that has adopted cost leadership and differentiation strategy to meet the demands of the young middle-level customers locally and globally. Different types of tools were applied to check the effectiveness of IKEAs business strategy. However, according to situational analysis, it was brought that IKEA is one company that offers products at cheap and affordable prices and its meets the requirements of the suppliers the most by building a strategic relationship between the two. IKEA has mostly chosen to enter markets majorly with franchising and joint ventures for internationalization. The strategic choices and alternate decisions adopted by IKEA has enabled it to maintain competitive advantage and produce above due to leadership in the market. References Albarrak, O. (2012).IKEA Strategic case study analysis.Slideshare.net. Retrieved 21 February 2016, from https://www.slideshare.net/OsamaAlbarrak/ikea-strategic-case-study Ayodele, A. (2013).A SITUATIONAL AND STRATEGIC ANALYSIS OF IKEA AND THE FUTURE.Academia.edu. Retrieved 21 February 2016, from https://www.academia.edu/8046929/A_SITUATIONAL_AND_STRATEGIC_ANALYSIS_OF_IKEA_AND_THE_FUTURE Bouvrain, S., Sarka, D. (2015). Compatibility of Corporate Sustainability with a Cost Leadership Strategy. De Wit, B., Meyer, R. (2010).Strategy: process, content, context: an international perspective. Cengage Learning EMEA. Fredman, M., Nilsson, S. (2015). The preferred Complex Purchase Process in-storeA case study on IKEA. Frynas, J. G., Mellahi, K. (2015).Global strategic management. Oxford University Press, USA. Goenka, C. (2010).Ikea presentation final.Slideshare.net. Retrieved 21 February 2016, from https://www.slideshare.net/chetangoenka/ikea-presentation-final Gummesson, E., Kuusela, H., Nrvnen, E. (2014). Reinventing marketing strategy by recasting supplier/customer roles.Journal of Service Management,25(2), 228-240. Hamid, R. (2014).IKEA Porter's Five Forces and Value Chain Analysis.Slideshare.net. Retrieved 21 February 2016, from https://www.slideshare.net/karipap313/ikea-porters-five-forces-and-value-chain-analysis Harapiak, C. (2013). IKEA's International Expansion. Hill, C., Jones, G., Schilling, M. (2014).Strategic management: theory: an integrated approach. Cengage Learning. Hitt, M., Ireland, R. D., Hoskisson, R. (2012).Strategic management cases: competitiveness and globalization. Cengage Learning. Hollensen, S. (2014). Global Marketing, Harlow. ikea.com, (2015).The IKEA Business Model. Retrieved 21 February 2016, from https://supplierportal.ikea.com/doingbusinesswithIKEA/Documents/The%20IKEA%20Business%20Model.pdf ikea.com,. (2015).People Planet Positive IKEA Group Sustainability Strategy for 2020. Retrieved 21 February 2016, from https://www.ikea.com/ms/en_GB/pdf/people_planet_positive/People_planet_positive.pdf Jonsson, A., Foss, N. J. (2011). International expansion through flexible replication: Learning from the internationalization experience of IKEA.Journal of International Business Studies,42(9), 1079-1102. Kwong, M. (2011).A case study on ikea.Slideshare.net. Retrieved 21 February 2016, from https://www.slideshare.net/philmayo/a-case-study-on-ikea Lakshman, S. (2013).Multinational Companies Executive Selection Practices: challenge of Human Resource Management in International Business Management(Doctoral dissertation, Paris, CNAM). Larsson, R. G. (2015). Ikeas Almost Fabless Global Supply ChainA Rightsourcing Strategy for Profit, Planet, and People.Lean Management of Global Supply Chain,12, 65. Leavy, B. (2012). Updating a classic formula for strategic success: focus, alignment, repeatability and leadership.Strategy Leadership,41(1), 18-28. Lutz, A. (2015).Ikea's Strategy For Becoming The World's Most Successful Retailer.Business Insider. Retrieved 21 February 2016, from https://www.businessinsider.in/Ikeas-Strategy-For-Becoming-The-Worlds-Most-Successful-Retailer/articleshow/45904642.cms Mittal, N. (2013).Supply Chain Management: Ikea's Low Price Strategy.Cmuscm.blogspot.in. Retrieved 21 February 2016, from https://cmuscm.blogspot.in/2013/02/ikeas-low-price-strategy.html Pea, C. R., Ricart, J. E. (2015). The Practice Of Strategy.European Business Review. Suwaris, S. (2013).IKEA Case Study.Academia.edu. Retrieved 21 February 2016, from https://www.academia.edu/5197655/IKEA_Case_Study