Accounting Scandal The Biggest Ponzi Scheme - 925 Words

Business ethics is an important characteristic of any business since it confirms that the purposes of any firms are achieved in morally acceptable ways. It also certifies that firms perform their moral responsibility towards society. Throughout the past several years, many scandals have rocked the economy and hurt investor confidence. Accounting scandals have become a regular incidence in the American business landscape, which will most likely to haunt other business in the years to come. Since accounting is the basis of all financial reporting, an accounting scandal does not only affect a business butt it also makes the government to rethink about its reforms or introduce new laws to the investors to make the investment market more secure for them. One of the biggest accounting scandal which affected the entire accounting system and even enforced the SEC and the US government to introduce new reforms was Bernie Madoff Ponzi scheme; which have been regarded as the biggest Ponzi schem e in history. Bernie Madoff was an American investment adviser and stock broker who operated Madoff Investments in an unethically acceptable manner. He used the company as a front to commit a Ponzi scheme which swindled investors of over $65 billion; this is the largest Ponzi scheme ins history. It is believed that Madoff only stole $20 billion from principle investment; the rest of the money was Bernie imagination that he convinced his investors that their investment worth $65 billion. SeveralShow MoreRelatedOrganizational Culture, Management Philosophy And Ethics999 Words   |  4 Pagesorganization; from operations, marketing, and, accounting. No matter the size, industry or level of profitability of an organization, business ethics are one of the most important aspects of long-term success. According to Webster’s dictionary, ethics can be defined as the â€Å"rules of behavior based on ideas about what is morally good and bad† these rules influence every aspect of our society (I nvestopedia, N.D.) (Webster’s, N.D.). While sometimes overlooked, accounting plays a large role in many organizationsRead MoreMadoff1255 Words   |  6 PagesAbstract This paper will include a review of the Madoff Securities case. The Madoff Securities case involved the cunning Bernard L. Madoff swindling his clients to believe that he could guarantee them high profits. Madoff is the largest Ponzi scheme in history. Madoff Securities Case Bernard L. Madoff started the investment firm Bernard L. Madoff Investment Securities (BLMIS). Bernard Madoff began trading securities from the 1960s. From as early asRead MorePonzi Scheme1146 Words   |  5 PagesPonzi Scheme Keller Graduate School Forensics Accounting The Bernie Madoff scam truly made history. Bernie Madoff probably would not have been able to prolong this scam without the continued help of the Accounting Firm of Friehling amp; Horowitz CPAs PC, who at last reported purported to audit financial statements and disclosures of Madoff firm for the last 17 years. Ponzi schemed to help Madoff by trying to go undetected because of Friehling deceiving investors and regulators by declaringRead MoreIt’s amazing the amount of financial scandals there has been happening during the past decade, most1200 Words   |  5 PagesIt’s amazing the amount of financial scandals there has been happening during the past decade, most of them from the financial banking system. Reckless management practices that try to lure the public with false statements in order to fill up their own pockets. Scandals such as, the Bernie Madoff with his ponzi scheme, The Libor Scandal with the fixed rates, as well as the famous scandal of the Lehman Brothe rs, all of them were great acts of corruption and unethical behavior, trying to abuse of theRead MoreAn Audit Of An Auditor2930 Words   |  12 PagesWhen using management’s statements, a user need to understand that the preparation of the financial statements requires management to make substantial accounting estimates and decisions, also in order to choose from among several alternative accounting principles and methods that are most appropriate within the guidelines of generally accepted accounting standards (GAAP). Role of an auditor The auditor’s role is different from the role of the management; the auditor is responsible for expressingRead MoreMadoff Scandal6132 Words   |  25 PagesCareer 2 The Firm 3 Sales Strategy 4 Investment Strategy 5 The Scandal 7 He was not alone 9 The Markopolos Whistle 11 The collapse 13 Charges and Sentence 13 The Victims 14 2009 Ponzi Schemes 16 The SEC Failure 17 SEC post- Madoff 19 Hedge Fund Transparency 20 Conclusion 21 Bibliography 25 Tables Table 1: List of Madoff Clients (taken from the The New York Times, last updated June 24, 2009) 15 Table 2: 2009 Ponzi Scheme SEC Charges 17 Figures Figure 1 Fairfield Sentry vs GatewayRead MoreEssay on White Collar Crimes in America3039 Words   |  13 Pagesprofessionals. These crimes are not victimless nor unnoticed. A single scandal can destroy a company and can lose investors millions of dollars. Today, fraud schemes are more sophisticated than ever, and through studying: Enron, LIBOR, Albert Wiggan and Chase National Bank, Lehman Brothers and Madoff, we find how the culprits started there deception, the aftermath of the scandal and what our country has done to prevent future scandals. In the 1920’s, Wall Street was a very different place than itRead MoreFinancial Fraud in Canada7212 Words   |  29 Pagesfraud†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦9 E-mail fraud/phishing†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦10 Identity theft and Title fraud†¦Ã¢â‚¬ ¦...†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...10 C) Investment Fraud: Ponzi Scheme†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..11 History of the Ponzi Scheme†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..11 Recent financial scandals†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.......13 Ponzi Schemes and Market Regulation†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.14 Organized crime and financial crimes A) Organized Crime in Canada†¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..15 B) Money laundering†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Read MoreThe Theory Of Corporate Criminal Liability Essay2567 Words   |  11 Pagesconsequent upon such a criminal behavior. (i) Scandals of The Century: One of the earliest of the 20th Century’s financial rogues was Italian immigrant Charles Ponzi, who served prison term in Canada for forgery before setting up a business in Boston and London when he discovered he could buy international postal coupons abroad, then resell them in the United States for a higher price. In what was known as a ‘Ponzi scheme’ or a pyramid scheme, Ponzi pooled money from his initial investors, who madeRead MoreMadoff Scandal1822 Words   |  8 PagesThe Madoff Scandal: 50 billion questions and few answers Table of Contents Abstract †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦3 Description of Events †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..4 Analysis of Scenario †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦4 Questions about Madoff †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..5 Solutions and Alternatives †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..7 Conclusion †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...8 References †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦10 Abstract Bernie Madoff ran the biggest in the history of the world. The details

The Gold book Report Example

Essays on The Gold book Report Book Report/Review The Goal: A Process of Ongoing Improvement- Book Report The Goal: A Process of Ongoing Improvement (Goldratt Cox, 1986) is one of the few management books which attempts to explain the jargons rather than defining them. It is also about managerial practices which enable the managers to shift their attention from urgent things to important things by recognising the bottlenecks (or the weakest link in the chain of production). The book adapts a scenario where the plant manager, Alex Rogo, is caught in the urgent tasks of daily operations and loses the focus on important goals of the existence of the plant. It is a story of his struggle to turn around a failing plant in three months. He is helped in his struggle by Jonah, his teacher, whose questions force Alex Rogo to rethink the validity of conventional wisdom. Through this story, Goldratt states that improving what you already do best will not lead to increased business for a manufacturing concern. Rather, improvement efforts should be focussed upon the constraints or the bottlenecks (factors that stall/slowdown the production process). In technical words it is known as theory of constraints, which talks about increasing the performance of the constraint which directly affects the goal. He says that all the activities of the system could be divided into throughput, operating expense and investment. Throughput is money (goal units) while investment is money invested by the concern to sell the goods (inventory). Operating expense is turning investment into throughput. To achieve the goal, the first step is to identify the bottlenecks. Once the bottlenecks are identified, they should be tapped to their full potential. Rest of the production system should be adjusted to ensure that bottlenecks deliver to their full capacity. Make changes in th e system to upgrade the constraint/bottleneck so that it no longer remains the bottleneck. Buffers should be created both before and after the bottleneck so as to maintain the flow of work in case of any contingency. The Goal drives home the fact that all the activities in an organization are part of a bigger task which is to make money. Only when an organization makes money, it will be able to survive and grow further. All other tasks are important to make money but they are not the purpose or reason of the existence of an organization. People, working at different levels of the organization, get so engrossed in their daily routine chores that they forget to ask themselves if their efforts are contributing to the achievement of goal or not. The author asserts is that employees should never lose focus of their goals. Each of their activities should be aligned to the purpose of the organization which is to make money. They should not get lost in the managerial jargons and numbers and keep an eye on the goal which doing daily tasks. Further, through Alex Rogo, the plant manager, the author conveys that when you fall into the habit of doing fire-fighting for such things which otherwise should be everyday tasks, the stress shows in personal matters also. Alex Rogo’s relationship with his wife was on a decline due to his absolute involvement in his official issues. Though the central theme of the book is about identifying and achieving the goal, Goldratt’s has successfully managed to convey the importance of team work in achieving the goal. This throws light on very important aspect of operations management whereby the operations should be carried out in such a way that it is profitable for the department/organization as a whole and not to implementer’s unit alone. Through this book, Goldratt has subtly communicated how the basic managerial functions of setting an objective, planning, organizing, implementing, monitoring and controlling hold perfectly true for any organization on any given day. I have applied the managerial practices in my training stint with a software company. The company used to sell software to streamline the marketing and operations of the insurance companies. I was part of a team which used to prepare RFPs to the prospective customers. There were three members in the team, apart from me, and all three were from insurance backgrounds with adequate product knowledge. My job was to consolidate the various portions of the RFP prepared by different team members, format it and upload it in the system before the deadline expired. As is the case with the deadlines, the team used to submit their final portions of the RFP hardly fifteen minutes prior to the expiry. It used to become impossible for me to consolidate, format and upload the entire document (sometimes 550 pages long) before the expiry of the deadline. After we missed two deadlines in the row, we decided to take stock of the situation. I was the bottleneck since I could not finish my task in fifteen minutes. Others said that the quality demands are so high and time so less that they cannot submit their portions even one hour before the deadline expiry. After brainstorming it was decided, that to enable me to cut down on time, the team would divide their portions into sub-parts. They will send me each part as soon as they finish it and not wait for the entire portion to be completed. This would enable me to consolidate and format the document throughout the day and thus meet the deadline. The solution ensured that the bottleneck was made to work throughout the day and not in the last fifteen minutes. Thus the capacity of the bottleneck was fully utilised and others adjusted their work towards this purpose. Bibliography Goldratt, E., Cox, J. (1986). The Goal; A Process of Ongoing Improvement. New York: North River Press.

The Effects Of Aristotelian Teleological Thought O Essay Example For Students

The Effects Of Aristotelian Teleological Thought O Essay n Darwins MechanistThe Effects of Aristotelian Teleological Thought on Darwins Mechanistic Views ofEvolutionJordan HoffmanThe need to understand organisms has been a much sought goal ofscience since its birth as biology. History shows Aristotle and Charles Darwinas two of the most powerful biologists of all time. Aristotles teleologicalmethod was supported widely for over 2,000 years. One scientist remarks thatthe Aristotelian teleology has been the ghost, the unexplained mystery whichhas haunted biology through its whole history (Ayala, 10). If Aristotlesapproach has frightened biology, then Darwin, who actually nicknamed himselfthe Devils Chaplain, and his idea of natural selection has virtually dissectedAristotles ghost. While Aristotle explained biology through a plan and apurpose, Darwin debated that randomness and chaos are responsible for theorganic world as we know it. Guiseppe Montalenti, an Italian geneticist andphilosopher of biology, wrote that Darwins ideas were a rebell ion againstthought in the Aristotelian-scholastic way (Ayala, 4). In order tounderstand how Darwinism can be considered a revolt against Aristotle, we mustfirst inspect Aristotles ideas and thoughts about biology. Aristotle used teleology to explain the harmony and final results of theearth. Teleology is the study of the purpose of nature. Aristotle believedthat scientists should follow the plan adopted by mathematicians in theirdemonstrations of astronomy, and after weighing the phenomena presented byanimals, and their several parts, follow consequently to understand the causesand the end results. Using this method, Aristotle constructed causes for bodyparts and processes of the human body, such as sundry types of teeth. Aristotle elucidated on this topic: When we have ascertained the thingsexistence we inquire as to its naturewhen we know the fact we ask the reason(Evans, 82). Despite Aristotles frequent teleological explanations, he did warnagainst teleology leading to misinterpretations of facts. In a short writing onthe reproduction of bees in Generation of Animals, Aristotle was troubled thatthere were insufficient observations on the subject, and warns that his theoryis dependent on facts supporting the theory. One twentieth century biologistbelieves that Aristotle did not often enough follow his own advice. Ayalaprinted that Aristotles error was not that he used teleological explanationsin biology, but that he extended the concept of teleology to the non-livingworld.(56)Some biologists say Aristotle used teleology so often because order andpurpose, both in the universe and life, were immensely important to him. Aristotle thought it was both ridiculous and impossible that chance, which isnot linked with order, could be used to explain occurrences in biology. In oneof his writings, he criticized Empedocles for the use of chance to describebiology. Aristotle believed that Empedocles, then, was in error when he saidthat many of the characters presented by animals were only the results ofincidental occurrences during their evolutionary growth. As a vitalist, Aristotles philosophy also had a powerful influenceon what he wrote. His beliefs are described in On the Soul and On theGeneration of Animals. These thoughts can be epitomized into four main areasof Aristotles vitalistic belief:1. He connects the life of an organism with its psyche. 2. He finds purposefulness and organic unity as the most significant sectionsof vitalism. 3. He debates that the entire body, rather than the parts, should be taken intoaccount. 4. He emphasizes the soul as the final goal. Looking at these four traditions, it is not shocking that Aristotle thought thatsingle limbs, such as an arm, was a good description of organisms. This couldbe compared to a house being called bricks and mortar. Rather than concentrateon individual variability and individual pieces, Aristotle believed that it wasproper to concentrate on the final cause of the entire entity. Aristotleaccepted that the soul was probably the final cause, and his Parts of Animalssays now it may be that the form of any living creature is soul, or some partof soul, or something that involves soul. Aristotles ideas and traditions continued on their path long after hisphysical shell passed away. In the 12th and 13th century, Aristotlesphilosophy was re-founded and incorporated into Christian philosophy by St. Thomas Aquinas. During the Renaissance, when the earth was discovered to nolonger be the center of the universe, Aristotles astronomical systems brokedown, but his biological theories remained intact. This does not mean allpeople accepted Aristotles theories during the Renaissance, however. Onephilosopher from the twentieth century, Mayr, accuses Aristotles teleology ofthe non-organic world for the refutation of Aristotle by Descartes and Bacon. Both of these men criticized the existence of a form-giving, finalisticprinciple in the universe and believed this rejection demanded the removal ofall teleological useseven biology (Mayr, 38). The Great Gatsby Argumentative EssayHowever much confused about teleology, Darwin did not think the worldshould be explained in terms of its purpose in the universe. Once, Darwin askedthe question, What would the astronomer say to the doctrine that the planetsmoved not according to the laws of gravitation, but from the creator havingwilled each separate planet to move in its particular orbit? (Burrow, 48). Darwin is referring to the breakdown between astronomy and religion, physics andchemistry that happened during the Renaissance period. Darwin suggested theinclusion of biology as a hard science so that other sciences like physics andchemistry would not be unfairly built on the organization of knowledge, based ontestable, working hypotheses. The theory of evolution was not formed by Darwin. Ideas of manprogressing from smaller life existed even in Ancient Greece. Empedoclesevolution theory involved the coming together of limbs, while Xenophanesthought that humans came into existence from earth and water. Darwinsbeginning to the Origin of the Species is mostly a listing of antecedents tophilosophers of evolution, and what views they held. One of these predecessorswas Darwins grandfather, Eramus Darwin. Why Charles Darwin was more powerful than the other evolutionaryscientists was his theory of natural selection as the vehicle of evolution. Darwin credits the inspiration of his natural selection theory to reading T.R. Malthus Essay on Population (1798). In this essay, Malthus tried to show anequilibrium viewpointunless checked by famine, disease or voluntary restraint,population growth will outrun food supply. Darwins theory was finished by thetime he wrote the sketch of 1842 but he did not release it for twenty yearsbecause he wanted to produce a large work with both his own evidence for hisideas, and evidence of other naturalists (Ospovat, 1). Darwin was made topublish his own theory earlier than planned, when he learned that anothernaturalist was planning to publish a similar one. (Coincidentally, the othernaturalist, Alfred Wallace, was inspired by the same essay). Darwins theory completely changed biological philosophy. With histheory came the recognition that the self(individual) is the most vital unit ofbiological change, and that this polymorph happens due to total chance. In histheory, Charles Darwin suggested that there is a Struggle for existence. Thisstruggle was later put into use for support within several arguments. BritishImperialists attempted to rationalize their operations by arguing that Darwinismsuggested the strong must overpower the weak. In the late 19th century,Passionate Nationalism caused members of each nationality to trust that theirnation was the most powerful. And, in the early 20th century, Hitler and otherNazi party members used Darwins work to suggest the biological necessity forwar and survival of the fittestIn this case, Hitler was referring to the Aryans. Such controversies could not be upheld using biological ideas ofAristotle, since his conception of species included the abstraction that allindividuals were alike. Distinct differences, like eye color, areinconsequential because they are not promoted by a conclusive objective. However, individual contrarieties are the cornerstone of evolution throughnatural selection. Without these differences, evolution could not come to pass. For this reason, individuality is seen by biologists as the most meaningfultrait of biological organisms. A few scientists try to describe evolutionteleologically. This proof, of course, is not possible, as evolution throughnatural selection cannot be described as goal-oriented since it happens due toprevious events or transformations, not in anticipation of coming events. If wewere goal-oriented, natural selection would not be supple enough to be useful inrapidly changing environments (Mayr, 43). ReferencesAristotle. The Works of Aristotle, Encyclopedia Britannica. New York, 1952Ayala, F.J. and Tobzharsky, T. Studies in the Philosophy of Biology. University of California Press. Berkeley and Los Angeles. 1974. Burrow, John. Editor introduction to Charles Darwins Origin of the SpeciesPenguin books. England, 1968. Evans, G. The Physical Philosophy of Aristotle. University of New MexicoPress. Albuquerque, 1964. Kirk, G., Raven, J. and Schofield, M. The Presocratic Philosophers. CambridgeUniversity Press. Cambridge. 1983. Mayr, Ernst. Toward a New Philosophy of Biology. Harvard University Press. 1988. Moore, Ruth. Evolution. Time-life books. Alexandria, Virginia. 1980. Simpson, George The Meaning of Evolution. Yale University Press. New Havenand London. 1949.

Operation Management

Question: Identify and define a problem or opportunity, gather data, analyse the data, investigate options and propose a solution to the problem or propose how the opportunity may be realised. The group is also required to plan the implementation of the initiative. The project is not about a general description of the operations management of the organisation. Answer: Another matter with stock running is the quantity of routine asked for by IGA to supply and to put on brackets. If all else fails, the measure of standard is so considerable that they consume to put the practice on the standard that will be complete in few days or months (Bernard, 1999). Obviously, in the midst of top diurnal and times, the frames of IGAs can be understood hunk Moreover, they have to give a reduction on those clothes that purchaser keep up a key allotment from to purchase as an ensuing repercussion of their extraordinary incidentals. Introduction IGA is more than an essential banner it's more than private engraving stock on the rack. The IGA Brand is remarkably made for the free who needs to get to the security the legacy also, the affiliations and relationship of a brand trusted locally over the United States for more than eight decades years. To be honest, the IGA Brand now associates far and wide to Australia, South America, Russia, Europe, Korea, Caribbean, China, and way beyond. IGAà ¢Ã¢â€š ¬Ã‚ ©isà ¢Ã¢â€š ¬Ã‚ ©theà ¢Ã¢â€š ¬Ã‚ ©largest relationship of free and standard foremost need retailers in the United States and around the globe. With the backing of Alliance individuals like driving IGA wholesalers and smart moving client stock affiliations known as IGA Red Oval Partners. IGAà ¢Ã¢â€š ¬Ã‚ ©Storesà ¢Ã¢â€š ¬Ã‚ ©haveà ¢Ã¢â€š ¬Ã‚ ©a unblemished lead the IGA clarification behind slant is a provenà ¢Ã¢â€š ¬Ã‚ ©marketingà ¢Ã¢â€š ¬Ã‚ ©strategy proposed to take the estimation of your business to the join level by rede signing your made neighborhood character (van Gelder 39-48). The eighty years of legacy behind the IGA trademark sets with professionallyà ¢Ã¢â€š ¬Ã‚ designed errands to help independents level à ¢Ã¢â€š ¬Ã‚ ©the à ¢Ã¢â€š ¬Ã‚ ©field à ¢Ã¢â€š ¬Ã‚ ©ofà ¢Ã¢â€š ¬Ã‚ © playà ¢Ã¢â€š ¬Ã‚ © in today's excellent retail environment Company Overview IGA or Self-governing Grocers of Australia is an undertaking of shops in Australia. IGA themself is stated by Metcash, however particular IGA stores are uninhibitedly had. It is an area variety of all-inclusive Americans Self-governing Grocers Organization. Its crucial opponents are IGAs, Aldi, and Food works, Coles and previously BI-LO. IGA has additional around five thousand outlets in 30 countries around the globe. IGA remained accepted on to Australia in 1988 by David's Holdings while ten outlets had the chance to be individuals commencing from IGA. In Australia there are overall 1400 stores. Adding to these there are 3 IGA commercial organizes in Western region of Australia which are IGA, Progressive Supa and Supa IGA. In the year 2005 Metcash got enlisted in the Foodland Associated. As a remarkable portion of this acquisitions the independent arrangement of Supa Value Supermarkets, Dewsons Express and co. and Action, which got their supplies from FAL transformed their actions t o IGA while having the same free possession (SCHULZ. 105-116, 2009). A social affair of eleven Action superstores that had remained functioned by FAL was vended to a grouping and these shops now commenced as Advanced Supa IGA. Metcash presently embraces a degree keenness for these outlets. The sprawling remains of the Action Superstores were vended to liberated chief supervisors who run their business under the name of Supa IGA. The head office of IGA is still located at 218 Banister Road, Western Australia. Business process To enhance ability and earn respect in the trade, Davids started mechanical redesigns in their retail come wholesale functioning, acclimating distinctive headways with Australia: point of interaction through electronic information for retailer requesting; case marks; retail leave names; scanners and assorted structures took after reliably (Valiris and Glykas 445-480). Today Metcash proceeds with the agreements by its facilitator; and is perceived as an innovator accessible for practice; warehousing inclination and a forerunner in advancement agenda and operative logistics. In late 1980s the over-all merchandizing stock of IGA was accustomed with Australia. IGA has persisted a forerunner selling barrage for self-governing stores and is a unique type of association's most famous trademarks. On 4th of September 2000 The Metcash Trading renamed to Davids (Veljanovski). The designation sees the crucial share of South African which has Metro Cash and Carry as a superior stakeholder from ye ar 2000 to 2004in the significant sequence of the association. In the later part of 2005 Metcash made a significant progress all past FAL outlets under Dewson, SupaValu and Action outlets that come across IGA basics were taken under the brand of IGA. In early part of 2010 Metcash added 50.1% of Miter 10, the thumping apparatus trade with more than 350 actively certified Miter 10 outlets and additional 450 non-named autonomous patrons. Miter 10 amalgamated the Metcash agreement with a 50 years past of supportive free home-based alteration and equipment venders, who are a dominant portion of quarter social events from place to place in Australia. The epicenter for Miter 10 is to make era framework enhancements and gather a solid stock and propelling model (Bird 265, 2011). Participation, Conversion and Production The main transformation to enrich the relationship management between customers by IGA was implementing SAP. For buying products of known brands IGA was making it cheap as well as easily available source for the customers and at a reasonable price. Development of module for the promotion management was related to the last stage of the project. For indulging promotional offers the organization started giving training (Mohammad 4-8, 2015) s. Currently, on food, petrol and liquor business of the company is getting promotional application. This sector solely provides 90% incomes of the assembly. Figure 1: Existing Processes Approach of IGA Recently IGA is considered as an organization have various superstore in the country. To provide customers products that are fresh and having good quality is the sole strategy of the company. As IGA is known one of the best grocery retail chain in the country; hence the company emphasizes on further investment for opening various outlets and stores and also increasing the quality of services which will be provided to the customers. The organization digs out its income to make better processes ("Special Issue Of Production And Operations Management : Retail Operations" 127-127). The stock availability as well as the service to the customers both are improved equally. The figure showed below states the strategy which the organization is maintaining currently to improve its system and also enhancing quality in the companys supply chain. Figure 2: Porters Generic Strategy A business is affected by five forces according to porter. These five forces include buyers, suppliers, competitors, new entrants, and substitute products. All these forces were always taken seriously by IGA and were given importance as well. The reason behind the activity of the company about emphasizing on innovation for providing best customer service quality at a reasonable rate (Mckeown, 2012). The organization has always judged the outside environment which might affect its income. The organization plans its strategies in respect to the Generic strategies of Porters. Porters generic strategy has four different kinds. Cost leadership strategy which states supplying customers the cheapest products. The organization meet this strategy by lowering its charges and by enhancing the relation along with the suppliers for developing a mechanism of smooth supply chain (Schneible Jr.). The next strategy is focus strategy; the companys main focus are the customers always. IGA have always tried to give their best effort in servicing the customers at a very reasonable rate. The other two are associated to differentiation strategies. To provide services to the customers the organization follows differentiation strategy. Providing differentiated and innovative services to its customer has always been the main focus of the company. Though the organization has got accustomed to the differen t strategies but still it is dependent on the products and services it offers to the customers. A concise summary of the strategies taken by IGA is given in the figure below: Figure 3: IGAs Present Account Administration Scheme To enhance the system of rolling is the most important purpose of such activity. It facilitates IGA in deciding perfect ordering list and lowering the account points to decrease charge and deliver renewed yields. IGAs account administration scheme is shown below: Figure 4: Inventory management issues IGA was considered as a best retailer of the country a few years ago. The sales of the organization declined all of a sudden and increase in cost. The company dropped their charge by downscaling, but remained that a charge decrease or convertible of consumption (Muller, 2003). If the case is regarding the reduction of cost then its useless as the organization have to fix all the problems. Whereas, if its regarding charge decrease it could comprise that charge which may be essential for successively the trade. They familiarized the tenure of slender marketing as an explanation. This development strength be respectable but it workings mostly in industrial sector rather than transaction. This tenure only earnings best management, which has no influence to cure the significances of substituting the perception of the consumers. The suggestions of the affiliation to declining the charge by two thousand dollars at each professional part store saw reducing just which may affect the system fo r affiliations and the morals of the bosses ("Inventory Management" e295-e363). Along these lines, the racks were depleted which were by then filled by the staff. This, as time goes on, weakened the cash flawless circumstances of the connection. Thusly, it was exhibited that the procedure was confused. The theories of the affiliation were not in the right heading. The inspiration driving meeting of the management was transient unwittingly to the insufficiency of the whole game plan. The quality management Guru Edwards Deming prescribed that replicating invited change and the affiliation needs good 'old fashioned changes, especially in the organization together. They require another hallucination of the occupational rather than merely varying to equipment. Client associations issues At that point close stock organization issue, complexities of the customers developed. Issue of the customers on a to an incredible degree essential level focus on extended regarding, poor customer affiliations, pounded vegetables and meat, and getting together of consistently understood brands. The union used to control stock wrongly (Pinhanez 3-13, 2009). The key issue in restocking was the nonappearance of staff. The key issue and issue are that IGAs was always offending the issue of customer protestations. They are through and through dismissing the issue of customer determination. Future Strategies IGA needs to adjust neighborhood brand with rot stock cost that prompts disabling of the phenomenal position of the plot. To pick issue related to outlandish stock, IGA may attempt with suppliers and emissary association reasonably make immaculate utilization of Economic Order Quantity that is used for brain blowing material association (Serrano and Kraiselburd). This is a reasoning that is used to pick the measure of material that should be kept up, asked for and when they should be asked. The inspiration driving money related asking for the entire methodology is to minimize the asking for and stock holding expense and then ensuring beautiful stock is amped up for locale current issues. The strategy can be gone on numerically as: Imminent approach associated to customer service Retailing continues changing which make it enchanting for pioneers. The present customers seek after down quality and IGA Limited needs to give more choices at their doorstep to move web shopping than at whatever time in late memory to pull in customers. In the centrality centered period, customers are at the driving seats of affiliations. The shopping direct and tastes of the customers keep changing on the reason of operations of the affiliations. IGA should respond quickly to the changing need of the customers in the present putting aside a couple of minutes layout, as this time is flooding with challenges and opportunities. The future structure for the affiliation should be to put the customers at the heart of business (Wang). The alliance needs to listen them and proceed to the table imaginative systems for shopping. IGA should give things overhauled costs also showed prize endeavors. To maintain a strategic distance from the disagreements identified with destroyed vegetables and regular things they ought to put new verdant supports on their racks. IGA ought to give persevering transport of brand over all mediums. They may build up a framework to settle the client protestations in under twenty-four hours. Enactment Purposes of future strategies With a specific completed goal to update execution in the powerful period, the affiliation needs to concentrate on the running with degrees to upgrade execution. Their execution targets may pivot: Reducing the reliance over old frameworks and to make structures, which are independent and robotized. Provision of worth stock and associations to clients. To advancement adaptability in their operations to show changes as indicated by the propelling necessities. To enhance the rate of associations and development of things by working up a proficient and serious creation framework system. To give things at the best sticker costs, The Company made solid relations with suppliers to enhance store framework which will at last point of interest the clients by giving them less immoderate things (Prez-Llantada 221-235). Conclusion Metcash has constantly stayed as one of the best and trusted retailer in Australia. Despite competition the association has functioned well in the business area and have turned out to be industriously. On the reason of general examination by the association its clear that Metcash have established direct as well as immaculate system for customer immovability change. The association have stayed in gathering support practices as well. The basic part is that the progression of the buyers as well as the shareholders, the association has developed a easy store system which has helped the association to give the best quality things to buyers at a less costly price. This exhibit moreover structures buyer constancy. The company have continually based on improvement for acquisition of better things and organizations. The fundamental things that are negative which has been viewed instead of recklessness in the latest couple of years, the association has stayed low profile in internet organizing which has constantly been a focal point of its competitors. Due to this issue the association fail to totally guarantee its possible business part. The buyers of Metcash are individuals instead of an organization so customers have a huge amount of impact for the association. Recommendations The alliance is psyche blowing in contributing intense expenses, still the connection has to aim more on expense affiliation system. The connection has created an OK stock system arrange yet key affiliations might help the company in demonstrating at change rates and specifically in transforming into overall place all through the world. In the later years the connection focused on lowering the cost to the shortcoming of delegates, the association need to target on HR since it's the human resource department which deals with the customers. References Anderson, Dale L, Paul Franklin Shaffer, and Marvin D Volz.Improved Methods Of Displaying And Handling Produce In Retail Food Stores. Washington, D.C.: U.S. Dept. of Agriculture, Agricultural Marketing Service, Transportation and Facilities Research Division, 1962. Print. 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