Partnership Operation and Termination free essay sample

A partnership is a voluntary ORGANIZATION between the partners that is based on a contract. The life of a partnership is limited by agreement or by the death of incapacity of a partner. Normally, each partner can act as an agent of the others partners and commit the partnership to any contract within the apparent EXTENT of its business. All partners in a general partnership are personally ACCOUNTABLE for all the debts of the partnership. Limited partnerships include one or more general partners plus one or more (limited) partners whose liabilities are limited to the amounts of their VENTURE in the partnership. The risk of becoming a partner results in part from the fact that partnership ATTRIBUTE includes mutual agency and unlimited liability.The initial investment of partnership assets is recorded by debiting the assets PROVIDED at the fair market value and crediting the partners’ capital accounts. A partnership’s profits or losses are DISTRIBUTED to the partners according to the terms of the partnership agreement. We will write a custom essay sample on Partnership Operation and Termination or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The agreement may specify that each partner will receive a given fraction, or that the allocation of profits and losses will reflect salary allowances and/or interest allowances. When salary/ or interest allowances are granted, the residual profit or loss usually is allocated equally or on a stated fractional basis.When a new partner buys a partnership interest directly from one or more of the existing partners, the amount of cash paid from one partner to another does not affect the total recorded equity of the partnership. The recorded equity of the selling partner (s) is simply transferred to the capital account of the new partner. Alternatively, a new partner may purchase an equity interest in the partnership by investing additional asset in the partnership. When this occurs, part of the new partner’s investment may be credited as a bonus to the capital accounts of the existing partners. Also, to gain the CONTRIBUTION of the new partner, the existing partners may give the new partner a bonus whereby SHARE’S of the existing partner’s capital balances are CONSIGNED to the new partner’s capital account.When a partnership is SETTLED, losses and gains from selling the partnership assets are DISTRIBUTED to the partners according to the partnership profit – and – loss – sharing ratio. If a partner’s capital account has a deficit balance that the partner cannot pay, the others partners must share the deficit in their relative profit and loss sharing ra tio.

Balance Diet essays

Balance Diet essays A balanced diet is one that provides an adequate intake of energy and nutrients for maintenance of the body and therefore good health. A diet can easily be adequate for normal bodily functioning, yet may not be a balanced diet. An ideal human diet contains fat, protein, carbohydrates, vitamins, minerals, water and fibre all in correct proportions. These proportions vary for each individual because everyone has different metabolic rates and levels of activity. Malnutrition results from an unbalanced diet, this can be due to an excess of some dietary components and lack of other components, not just a complete lack of food. Too much of one component can be as much harm to the body as too little. Deficiency diseases occur when there is a lack of a specific nutrient, although some diet related disorders are a result of eating in excess. An adequate diet provides sufficient energy for the performance of the body to function. Carbohydrates, fats and proteins provide energy. Proteins are a provider of energy in an emergency, but are primarily used as building blocks for growth and repair of many body tissues. We also need much smaller amounts of other nutrients, such as vitamins and minerals. Despite the small quantities needed these are essential to provide a healthy diet. Within the cells of our body, the nutrients ingested are converted to other compounds, which are then used for metabolism and other cellular reactions. Starch, a major carbohydrate is converted to glucose which can be then synthesised into fat for storage, proteins are synthesised from amino acids, and phospholipids are made from glycerol and fatty acids. Carbohydrates are a rapid source of energy; they are the body's fuel. The bulk of a balanced diet should be made from carbohydrates. If eaten in an excess of the dietary requirements carbohydrates are easily stored as fats in the cells. An average adult requires about 12,000kJ of energy a day, most of this is s...

INTERNATIONAL ALTERNATIVE DISPUTE RESOLUTION Coursework

INTERNATIONAL ALTERNATIVE DISPUTE RESOLUTION - Coursework Example Eventually, through the enaction of the Arbitration Act 1996 and through several cases, the arbitration clause was held to survive even if the underlying contract was void or invalid. The details of the evolution of the arbitration clause, with relation to whether it survives the death or invalidity of the underlying contract, is the topic of this submission. Analysis Historically, courts have approached the issue of the separability of arbitration clauses in different ways. In England, the issue of arbitration clauses being separable was decided in such a way that the arbitration clause became another contract term, in the case of Kill v. Hollister in 1746.1 This decision was in accordance with another decision by France different around this same time that was decidedly anti-arbitration. France’s Napoleonic Code outlawed enforcing arbitration clauses. However, the notion of separability evolved in Europe, so that Germany, in the late 19th Century, decided that the law of the arbitration and the law of the contract could be ruled by separate jurisdictions. This is because Germany decided that arbitration clauses were procedural, therefore would be ruled by the law of the forum. The contract itself, being substantive, would be ruled by a different law. Hence, Germany decided that arbitration clauses were separate from the contracts themselves.2 In England, a landmark court decision was seemingly influenced by the German notion of contract and arbitration clause separability. Hamlyn v. Talisker was a House of Lords decision in 1894 that decided that arbitration clauses were governed by separate laws than the contract themselves, and this meant that the law of the arbitration clauses would be governed by the place of arbitration, even though the law of the contract might be a different law than that of the arbitration. Other countries have followed suit, to where â€Å"separability for conflicts of law purposes has been accepted amongst the key arbitratio n countries.† 3Although most countries are in accordance with the notion of contract and arbitration clause separability, they handle the issue in different ways. Some countries allow parties to choose the law of the arbitration clause and the law governing the contract separately, while others â€Å"simply apply by statute the law of the seat to all cases proceeding in their territory.†4 The principle of severability is perfectly illustrated in the case of Mastrobuono v. Shearson Lehman Hutton, Inc., et al., 514 U.S. 52. In that case, the parties entered into an agreement that had an arbitration provision and a choice of law provision. In that case, the arbitration provision stated that the law of Illinois, and the rules of the National Association of Securities Dealers, would govern arbitration, and the contract would be governed by the laws in New York. The parties arbitrated the disagreement in Illinois, and the plaintiffs were awarded punitive damages. The problem with this is that New York, which governed the contract, had passed a law that stated that arbitrators may not award punitive damages. Therefore, the defendants appealed the award of punitive damages, stating that, since New York precluded such an award. The United States Supreme Court granted certiorari on the matter because the lower courts were in conflict as to whether contractual choice of law pro

Understanding Terrorism Essay Example | Topics and Well Written Essays - 1250 words

Understanding Terrorism - Essay Example Understanding Terrorism According to the FBI terrorism is the illegal use of violence against people or property to coax the reigning regime, the civilian population or a segment of society in the pursuit of political or social objectives. The Al Shabaab is an extremist group; their actions do more harm than good and show why terrorism cannot be justified no matter the cause. Q2 There are diverse classifications of fighters centered on their devotions, ways and means of combat, whereby a terrorist is one who uses fear, that is, terror, to achieve their political and social goals. Whiles a revolutionary is one who believes in an over haul of the government and in the way people think. Therefore, a revolutionary does not necessarily resort to violence although many revolutions have been characterized with a lot of violence as was seen in the French revolution and the Arab spring. A freedom fighter is one who strives to acquire freedom of his social group who he believes is oppressed by the reigning government . When struggling for liberation in Argentina, Che Guevara resorted to violence however not all freedom fighters will choose warfare as their style of combat. Guerillas combat in small crowds if possible under cover or at nightfall choosing for an autonomous and lopsided style of aggressiveness. Their smaller units enable them to strike faster and escape before their stronger opposing forces can organize a counter attack. A terrorist can become a guerrilla but not all guerillas are terrorists as the Philippine forces resorted to guerilla tactics during the Vietnam War (Kramer 98). Terrorist action is the use of fear to achieve sociopolitical ends. Q3 A relationship has been observed between terrorism and the level of freedom within a regime, an authoritarian regime is more likely to experience acts of terrorism than a liberal regime (Cinar 3). The feeling of oppression and denial of human rights is all the motivation required to resort to violence but there are cases of liberal gove rnments facing terrorist activities. Polish workers demonstrated against the regime of Wladyslaw Gomulka In 1970 because of the government’s continuous oppression of opposition views due to the poor working conditions and the (Shlapentokh 171). In 2011, the Arab spring revolution occurred and saw several Arab leaders face disapproval and removal from power due to their human rights violation. Muammar Gadaffi of Libya faced the revolt of his people due to gross human rights violation. In Syria, there are daily riots as revolutionaries and freedom fighters resort to guerrilla tactics and terror to remove the incumbent president Al Assad who they accuse of using excessive force to silence his critics within the country. The leading motive for the terrorism seen in liberal countries is the failure of appropriate application of the philosophies of democracy. Ethnic terrorism is the main form of terrorism observed in liberal democracies as ethnic or religious minorities feel that t here are not given equal treatment, their values are not respected (Cinar 5), or that there is cultural erosion of their culture for the dominant group such as the September 11 Airline smash of the Twin Towers by Bin Laden. One of the grievances of the Al Qaeda group is the spread of western values and culture that is eroding Arabic culture as well as the development of America the expense of their own countries. Spain a country known for its good

Intrinsic Compensation Research Paper Example | Topics and Well Written Essays - 2250 words

Intrinsic Compensation - Research Paper Example It is often expensive for an organization to hire new and skilled employees. Moreover, the frequent recruitment and retrenchment of employees may also have a significant impact on the current employees and on the organizational energy and motivational level. Additionally, by ignoring the issue of compensation, it does not go away or get better with the passage of time but will require valuable time and money to fix the system (Salanova & Kirmanen, 2010). In the highly dynamic business environment, successful organizations are constantly engaged in regular planning and evaluation of their compensation and performance appraisal systems. Thus, compensation system is a critical factor that directly influences the performance of the employees and the organization. Accordingly, an organization should ensure that it has clear and visible compensation system that is being regularly communicated to its employees which further acts as a motivational factor for the organization (Salanova & Kirm anen, 2010). Intrinsic Compensation According to Hamel (2008), â€Å"intrinsic compensations are derived from the workplace itself and are valued internally by the employee. These include opportunities for personal growth, quality of work life, job satisfaction, challenges, personal and professional development opportunities, a sense of belongingness, freedom to act visionary leadership† (Hamel, 2008, pp. 3). In other words, intrinsic compensation can be defined as those activities which have an influence on the intellectual, emotional and physical wellbeing of organizational employees. In the present highly dynamic business environment, intrinsic compensation plays a crucial role in motivating and retaining skilled employees in an organization. Intrinsic compensation deals with the employees critical psychological states of mind that is attributed to employees’ job performance. Intrinsic rewards such as autonomy in decision making, often acts as a motivational factor that seeks enhanced contribution from the existing employees of an organization. The greater employee satisfaction strengthens their engagement in an organization and helps an organization to retain talent within the organization (Allen, 2008). Intrinsic Compensation as a Motivational Factor Intrinsic compensation is derived from the satisfaction that an employee gets from performing their assigned tasks competently. An employee who is engaged in meaningful work tasks based on self defined goals and social norms is often motivated to perform exceptionally well and further develops an inherent interest for the assigned tasks. According to motivational theory of Maslow’s Hierarchy of Needs, employees are highly motivated when their all the needs are effectively satisfied. In relation to this, when employees are satisfied they get the feeling of success from their work which in turn results in high employee motivation to perform their work in a better way (Salanova & Kirmanen, 2 010). Furthermore, healthy work environment is another mode of intrinsic compensation which adds to high motivational level among the workforce.

Flash Animation Software Package Computer Science Essay

Flash Animation Software Package Computer Science Essay In this part of my assignment I would like to evaluate one software package. I would like to present basic information about Adobe Flash CS3 Professional. Also, I want to show you advantages and disadvantages of this program and describe where software could be improved. Adobe Flash  (Macromedia Flash) is a software  used to add  animations, video and  interactivity  to web pages. Flash is often used for games and advertisements. Flash was designed in 1996 and is now used by  Adobe Systems. It has been located as a tool for Rich Internet Applications (RIAs) Flash controls raster graphics and vector to give animation of text, images and drawings. Flash files are in the SWF format which is called (Shock Wave Flash) movies or flash games. Adobe Flash has included an option to add audio and video which makes your animation much more professional. Flash animation can be displayed on different computer systems and devices all the user need is Adobe Flash Player software which i s available to download for free. I have created a few animations using this program to meet assignment criteria. I never used this program before but I found it easy how to create simple animations. When I started to design my first animation I did not know how to use all tools that software provides. After 30 minutes I was able to create my first simple animation. It was not that professional like normal animation but it was something similar. I have spent a lot of time to create my first animation because I did not how to use these tools. I needed some help from instructions and sometimes I asked a teacher for help. I was testing my animations a few times with different combination of frames. This software provides very professional tools to create interesting animation. The program is made for everyone because is easy to use when you know how to use each of specific tools. I found out this software package is one of the best to design professional animations. I compared similar programs to create animations such as: pencil or 1-2-3 cartoon animation and I preferred to use Adobe one because it was so much easier to use for me. I enjoyed designing my animation in that software and I did not have any series problems to create simple animations. Flash has many good points some of there are: Using the software, web designers are able to use their ideas while building the website. There is no problem of browser compatibility. Data is uploading without any problems to any browser. Flash movies have a high loading speed. Flash is also very good drawing software and can create some interesting artwork. Very large software, easy to learn the basics for example; how to use specific tools or how to draw Everyone can create their animation very quick without spending time for long time learning the basics. Flash can be used to make; DVD productions, 3D animations, full movies, e-commerce and database on website, web advertising, drawing, software that can be used on websites. Flash can be used as educational software for children because tools are very easy to learn and use. 64-bit support for operating systems and 64-bit web browsers on Linux, Mac OS and Windows Audio and Video can be added while creating animation. It makes your animation more professional when audio is added. Also you can download a video to your animation to make your animation more interesting. Motion Tween technique is used in Adobes Flash animation software. Using this technique you are able to tweening a symbols from one position to a different position. Shape Tween technique is used in Adobes Flash animation software. This technique allows us to modify the shape of objects. By tweening objects, you can do something similar to morphing. Flash has a few bad points some of there are: The tools for writing and debugging the code are very plain. The code editor gives very limited functionality Takes long time to load files for example: images which are located on hard drive. It is also expected that some search engines may be unable to read the Flash texts It is slow in downloading images for example and the software works very slowly. Also the way that Flash works with text is one of major weakness. The support for HTML/CSS should be better, and especially there should be a way to deal with links, more advanced CSS features and complex formatting. WHERE SOFTWARE COULD BE IMPROVED? In my opinion the software could be improved because I found a few bad points of the software. Basically, the software takes long time to load and it can be annoying for users. That should be improved because it is a major weakness of Adobe software. Also the tools for writing and debugging the code could be better designed because are very plain and not very much professional. I found out opinions from people about Adobe Flash and they said that software sometimes may be unable to read the files. It is very annoying when the software is unable to read our files which are very important for us. In my opinion that should be improved very quick especially when many people describing this problem on forums. Also the code editor gives very limited functionality for uses and that could be improved. They should improve the code editor because it is very important thing for people who make professional animations. Also the poor integration could be improved between the Flash IDE and Flex Builder. Making professional animation is not very easy for beginners and sometimes any other software is needed. When the Adobe Flash has poor integration it is harder to make professional animation. Also the support for HTML and CSS should be better because is not fully supported. In my opinion these things should be improved straight away but the rest is absolutely fine and I cannot see any other problems. Conclusion In this part of my assignment I would like to make a conclusion about Adobe Flash Professional CS3. When I started desiging my first animation I did not know how to use the program at all. It was something impossible for me to make an animation and I was very disappointed because I did not even know how to start creating animation. I needed some help from instructions and also I asked my teacher when I did not know what to do. Anyway, after 30 minutes I was able to create my first simple animation. It was not really hard but I spent several minutes for practice and instructions. I did not even know that software is very simple and creating animation is fantastic with the Adobe Flash software. Everything is located very tidy and simple and is not that difficult to make animation. Also the instructions are available online on Adobes website so everyone can use them when help is needed. Actually, when you know the basic tools you should not have a problem with designing because the soft ware is simple. In my opinion the program is designed for beginners and professional animators because the software provides tools for professional animations and is very simply to use. The program is well known at schools, colleges or universities because it can be used as educational software. In my opinion the software is too slow but overall is designed very well and I enjoyed designing my animations and I did not have any series problems. I will recommend this program because in my opinion is the best for making animations.

History of rock and roll music outline :: essays research papers

History of the rock music industry Introduction: I.  Ã‚  Ã‚  Ã‚  Ã‚  How has an industry grown to become a 32 billion dollars a year machine? II.  Ã‚  Ã‚  Ã‚  Ã‚  Ill tell ou how, by scouting new talents from each and every corner of the world to bring us the music that each of us desires. III.  Ã‚  Ã‚  Ã‚  Ã‚  This is the recording industry which even though their sales have been steadily declining due to internet piracy it is still an industry which has great importance in our lives. As college students alone spend about 450 million dollars on music, according to Harris Interactive a worldwide market research and consulting firm. Ever since the birth of recorded music, it has defined our eras and defined each and every one of us. Music has been and always will be the soundtrack of our lives. IV.  Ã‚  Ã‚  Ã‚  Ã‚  Today I will try and familiarize you with the great changes this business has gone through. V.  Ã‚  Ã‚  Ã‚  Ã‚  To make this short I will start in the 50’s the golden age of rock and roll, continue to the 60’s with beatlemania, on to the 70’s with disco and punk rock, then the 80’s on through today. Body: I.  Ã‚  Ã‚  Ã‚  Ã‚  First I will start by discussing the various genres that created rock music in the 50’s and 60’s. A.  Ã‚  Ã‚  Ã‚  Ã‚  Rhythm and Blues 1.  Ã‚  Ã‚  Ã‚  Ã‚  Chuck Berry, Elvis Presley, Buddy Holly 2.  Ã‚  Ã‚  Ã‚  Ã‚  Their influences II.  Ã‚  Ã‚  Ã‚  Ã‚  Second I will tell you with more detail the numerous events of the 60’s that shaped the way the music industry was ran and the way rock music sounded. A.  Ã‚  Ã‚  Ã‚  Ã‚  The Beatles, and other pop acts and their influence. B.  Ã‚  Ã‚  Ã‚  Ã‚  The shift of interest towards profits instead of creativity in the Industry. C.  Ã‚  Ã‚  Ã‚  Ã‚  The emergence of counter pop movements. D.  Ã‚  Ã‚  Ã‚  Ã‚  Record labels look to capitalize on these movements. III.  Ã‚  Ã‚  Ã‚  Ã‚  Third I will discuss the seventies. A.  Ã‚  Ã‚  Ã‚  Ã‚  Folk rock and other sub-genres B.  Ã‚  Ã‚  Ã‚  Ã‚  Disco C.  Ã‚  Ã‚  Ã‚  Ã‚  Punk rock and its deviance from major record companies IV.  Ã‚  Ã‚  Ã‚  Ã‚  Fourth and last I will talk about the eighties on through today, and how this industry morphed into what it is today. A. The beginnings of rap. B. â€Å"Hair Bands† C. Grunge (Nirvana, Pearl Jam, Soundgarden†¦) D. Hip – Hop and music today. Conclusion: I.  Ã‚  Ã‚  Ã‚  Ã‚  I now come to an end of explaining the changes the music industry has gone through from the fifties on through today. The fifties with its rhythm and blues that gave way to rock and roll, the sixties with the rise of big record labels and their attention shifting more towards pop music that would drive their profits sky high. The seventies with the advent of what we now know as rock.

First Year Writing Essay

The first year biology majors and accounting major of YU are all asking themselves the same question: â€Å"How is First Year Writing going to help me? † As an accounting major in the Syms School of Business, I was extremely troubled by the university requirement to take first year writing as well. â€Å"How will FYW help me with balance sheets? † I asked myself. How will this class get me an accounting internship this summer that I so desperately need to improve my resume? Seemingly, FYW will not assist me in realizing my professional aspirations. Furthermore, the requirements of a dual curriculum are taxing enough without the added labor an â€Å"extra,† unnecessary requirement. Having finished the course, I believe that First Year Writing should be mandatory for all students for three reasons: FYW raises students’ awareness of critical educational issues, it develops their writing skills, and cultivates intellectual independence. In my First Year Writing class, I was first exposed to articles that dealt with educational issues such as the promotion of online-education and the advancement of math and science at the expense of the Liberal Arts. My professor began a class discussion about the popularization of online education by assigning David Brook’s article â€Å"The Campus Tsunami. † Brooks documents the millions of dollars dedicated by elite colleges such as Harvard and M. I. T. to e-learning the year. Before reflecting upon and researching the issue, I thought of e-learning as a convenient, cheap and efficient form of education. Brooks’s article confirmed my initial feelings. However, in this FYW required readings like an â€Å"An Elite College Education, Online? (which were response letters to Brook’s article) and â€Å"Summa Cum Avaritia† by Nick Brommel that forced me to engage the alternative point of veiw. These two articles argue that online classes should not supplant the class experience because online classes â€Å"reconceive knowledge as information† (Brommel,73). Brommel distinguishes between knowledge and information and argues that online classes can convey only the latter. Students are delivered the facts but are not forced to synthesize the information with the rest of what they know. In the traditional classroom, professors introduce the students to omprehensive knowledge, not simply information. After reading these articles, I concluded that e-learning diminishes the quality of education. Simply put, online education cannot supplement the classroom experience. As a result of FYW’s student discussions and assigned readings, I reconsidered and, ultimately, shifted my view of e-learning. â€Å"But who cares that you changed your view of e-learning? † one might ask. But my view on e-learning has consequences. It might determine who I vote for (candidates disagree about online education) and, perhaps, the future choices I willmake regarding my children’s education. Although I do not have children, I hope to one day. ) In addition to raising my awareness of important educational issues, FYW gave me the opportunity to improve my writing skills. Before submitting my first essay, I went to the writing center for help. After I read over the essay to the professor at the writing center, he put a big X on the paper and recommended that I clearly outline my ideas before beginning the writing process. â€Å"Where is your thesis statement? Why does each one of your paragraphs have three different ideas? † he asked. Quickly realizing that I was a novice writer, the professor gave me some instructive tips. Now, before I start writing an essay, I outline what I want to say in each paragraph. And after much practice, I have a better understanding of how to formulate a clear thesis statement, simply my supporting paragraphs, and avoid general sweeping statements. In short, FYW has made myself and students like me better writers. Nevertheless, a science or business major might question whether writing is always a valuable skill. I maintain that the skill of writing assists is necessary for success as college student and professional, regardless of one’s major or career. In my first semester at YU, I was assigned a term paper in my management course, in which I was expected to clearly answer personal questions like â€Å"what is your vision for your career? † No amount of biology or accounting could provide me with the tools necessary to answer the above question. FYW enabled me to both reflect upon and clearly articulate my professional aspirations. In addition to helping one in the classroom, developed writing skills, assist one in the workplace as well. Again, in my first semester, I asked my accounting professor to push off the exam so that I could finish an essay due that day. As I offered my excuse, I began to ramble about the impracticality of writing for accountants. My professor sighed and then replied, â€Å"When are you kids going to learn that writing is important even in accounting? † He explained that writing skills are necessary in order to communicate financial statements in a coherent manner. Poorly written reports with grammatical errors will lack credibility. Conversely, a well drafted report will be readily understood. My professor’s example reflects Brent Staples’s description of writing as â€Å"a critical strategy [†¦ for] students to prepare them to succeed in the work place† (34). But as Mark Slouka’s article â€Å"Dehumanized† demonstrates, Staples and my accounting professor’s view of writing does not fully capture the importance of writing and the humanities. Most importantly, FYW has forced me to become intellectually independent. As a former soldier in the Israeli Defense forces, I struggled with the adjustment to Yeshiva University life. In the I. D. F. , I lived a life of obedience: I ate when told to eat, slept when told to sleep, and even showered was I was told to shower. Israeli soldiers live by the adage, â€Å"rosh bakir,† which roughly translates to â€Å"don’t think, just do. † In contrast to the IDF, my FYW course styled itself off of Mark Edmunson’s concept of â€Å"democratic thinking,† where each student is encouraged and, in fact, expected to offer his own thoughts. During my year and half long army service, my life choices were made for me. But upon entering YU, my FYW course required that I apply intellectual independence in evaluating the â€Å"Purpose of Liberal Arts,† a difficult task for a soldier whose bathroom breaks were previously timed. Initially, I viewed my professor as commander and myself as soldier. I relied on her exact directions about how to write the essay at hand. Quickly, my professor identified my dependency and challenged me to develop and articulate my own thoughts. But one need not serve in the army in order to fear independence. Like soldiers, students who simply who â€Å"go with the flow† depend heavily on things like social pressure and parental guidance. FYW forces students to exercise their intellectual independence in reflecting on big questions like â€Å"Purpose of Liberal Arts. Throughout this essay, I have argued that that First Year Writing should be mandatory for all students for three basic reasons. First, FYW raises awareness about critical life issues of which online education is but a single example. Second, even accounting majors who may not interested in the humanities can apply the writing skills they acquired from FYW when doing assignments for other classes and, eventually, when drafting financial statements. But most importantly, FYW should be mandatory because it forces students to exercise their intellectual independence.

Cat’s Organizational Structure

Caterpillar’s Organizational Structure Caterpillar is a corporation that designs, manufactures and sells diesel and natural gas engines, construction, and mining equipment. Since the year 1905 Caterpillar has been a corporation that has evolved by making significant improvements to its machinery by taking advantage of the available technology, and it has had the ability to adapt to the dynamic changes and demands of the construction industry. Many significant events have occurred in this business to make this company what it is nowadays, a very prestigious and successful company around the world.In the year 1906 in San Francisco California, when one of the most significant earthquakes took place, the company made a remarkable use of its machinery by helping with the clean-up of such disaster. Soon enough the company made a contribution to Europe, years before War World I started, 1200 tractors were shipped to England, France, and Russia for agricultural purposes; however, thes e governments sent those tractors to the frontline and put them to work halting artillery and supplies.Consequently they served as an inspiration for the British government to invent the tank, for they borrowed the track laying principle to provide the tank with its form of locomotion. Caterpillar has become the number one company in its industry with more than $70 billion is assets; these important achievements could have only been accomplished with a well-defined and functional organizational structure. Legal Form of Organization Caterpillar is an organization that has the legal form of a corporation with more than $ 70 billion in assets. The main shareholders of the corporation are Vanguard group Inc. State Street Global Advisors Ltd. , and Fidelity Management and Research Company with 30,863,961, 16,637,962, and 12,216,827 shares held respectively. Key activities of organization Every year as many other corporations, Caterpillar does a deeply study of the actual situation of the company, and set its goals and strategies to maintain the corporation afloat and to improve their competence in the market. 1. The company’s expectations for the year 2020 are to be recognized as a leader around the globe, also it is very important for the company that their products help their customers succeed in their business uch as construction, agriculture, and mining. They are very focused in making their distribution system a competitive advantage to the company, the business’ financial performance to reward consistently their stockholders, and their personnel to live their set of values which are integrity, excellence, teamwork, and commitment. These objectives are vital for the company to succeed and keep being the leaders of the industry. 2. The SWOT indicated the areas that might endanger the company’s situation : i. Weaknesses: The increasing debt of the company: Caterpillar Inc. is rated second in total debt among competitors.The total debt of the industry is about $ 123. 53 billion. (See Figure 1) Caterpillar represents about 29% of the total debt with $ 35. 96 billion. Fig. 1. Caterpillar Total Debt, company’s debt consists of 29. 11 % of total debt of industry. Macroaxis Inc. Total Debt Breakdown for Caterpillar, 2012. . ii. Threats: * Intense competitive pressures: Caterpillar shares the market with many other companies, and it faces a tough competition to maintain their leading position. Deree and Co, Komatsu Ltd, Kubota Corporation are a few companies in the industry. Environmental regulations: Mining operations dependent upon material prices and political stability. * Foreign exchange and interest rate fluctuations 3. Values are really important issue in every company; without them the daily operations of the company could become a weakness, and advantage for competitors. As Caterpillar’s code of conduct mentions, the main focus in this area is shown in the following chart (see fig. 2). Fig. 2. Caterpill ar Inc. Values’ Chart Patterns of Departmentation Caterpillar if organized by a corporate governance structure with theChairman of the board executing the Role of Chief Executive Officer (CEO). A completely independent Board of Directors conformed by members outside the company (non-employees). The CEO oversees five group presidents. These groups of presidents supervise twenty-five vice presidents who are in control facilities, geographical regions, marketing regions and four service centers (see fig. 3). Fig. 3. Caterpillar’s Organizational structure. The Official Board. Orgeanizational Chart Caterpillar, April 3, 2012. .As we can see in the table, the corporation does not rely heavily in management levels; instead the chain of command is not very tall; which makes very dynamic the flowing of ideas and orders from Directors to line and production managers. This decentralized structure that took place in the early 1900’s was a key strategy to get closer to custo mers and satisfy more efficiently to their needs. The actual structure of the company is a clear insicator of how the company evolves constantly with the industy; the leadership understand the importance of being constantly involved with the employees at all levels.In the year 2004, the back then vice president of the company Christioano V Schena; shared an interesting story that demonstrated the effectiveness and results that good management can do for the Company. Christiano was sent to Caterpillar inc in Braxil as general manager of the company to deal with many problems the company was facing at that moment. In 1996, a big percentage of the products manufactured at that facility, were missing parts resulting in missed shiping deadlines; making the customers many unhappy with the service.As a result the company was not only loosing sales, but was inefficient sfixing all the problems this enificiency created and wmployees were working overtime and air- shipping parts to complete t he products. Christiano understood that the main problem was that employees had no sense of direction and were not motivated enough; they did not feel any connection with previous leaders which kept them in the shadow of the main mission of the company. He soon began to think and put in practice strategies to change this situation.He started by learning the local language, dor he understood there could not be a sentation of connection between leaders and subordinates in they can’t even speak the same language. He also learned the regional culture and realized that soccer was an important item in their lives. He started to compare the startegies and goals on the company with the strategies and goals of soccer. As the company started to improve and deliver in a much better manner, he was able to get all employees involved in the current performance and actual situation of the company.Employees were very motivated of belonging to a winning team and therefore performed better. He believed when employees are accountable for something, and they are given the tools they need to deliver on those accountabilities, they will do it better. As a result of this strategic planning procces, the employees transformed the business to such a level that in the year 1999 they received the Operational Excellence certification award, and the Premio Nacional Da Qualidade which is the Brazil’s equivalent of the U.S. Malcom Baldridge Award. Thorught this process Chistano also was able to recognize that the poor economical situation of the community surrounding tha company was a factor that threated the success of the company. The crime and low educational level of the area were a factor that limited the growth of the company. The team soon developed a strategy that involved in the effort of other entrepreneurs, CEOs and media leaders, to help the city in orther to attract talented people there. TeamCaterpillar is a global company that keeps constantly expanding across ma ny countries. The company operates hundreds of offices and facilities around the world and has more than 100,000 employees. Teamwork is a must, and there are technicians and engineers working in research, testing and development of new technology for the company in various countries. China, The Philippines, Singapore, and England are just a few of the countries where this company is conducting business in the present.With all these different facilities being located at different places, becomes very difficult to maintain the traditional face to face working environment; therefore, they rely heavily in technology to communicate ideas and coordinate operations from distance. Virtual teams are a must since engineers working at different time zones and places have to communicate their problems, ideas, and projects to achieve their respective task. In figure 4, we can see all the locations that at the present are being operated by the company. Fig. 4. Caterpillar currently operation worl dwide. Worldwide locations, Caterpillar Inc. 012. . Impact of information revolution As a technological company Caterpillar has an advantage over other companies that are not technological based. To keep the constant growth of the company, Caterpillar invests a great amount of capital in the research and development of new and better equipment and technology. Some of the current research projects of the company include ACERT technology in their engines which not only reduces emissions but also does it without affecting performance, reliability, and fuel efficiency.Mining technology and autonomous robotics are also being incorporated to this important step towards the future. All these purposes cannot be accomplished without proper training of their personnel. There are many programs that caterpillar is financing to train their employees and future employees as well. The company is really focused in training its personnel to increase their technical abilities and competence in the m arket. These programs are created for college graduates and could be applied in different areas of study.At the moment the company prefers aspirants with Bachelor’s degrees in Supply Chain Management, Industrial Distribution Management, Business Management, and Engineering. Some of these capacitation programs include: * Leadership and Technical Development Program. * Information Technology Development Program. * Human Resources Professional Development Program. * Logistics Professional Development Program. References Morningstar. Major Shareholders. Retrieved from http://investors. morningstar. com/ownership/shareholders-major. html? t=CAT . Wikipedia. Caterpillar Inc. Retrieved from http://en. ikipedia. org/wiki/Caterpillar_Inc. Macroaxis. Total Debt Breakdown for Caterpillar. Retrieved from http://www. macroaxis. com/invest/ratio/CAT–Total_Debt. Yousigma. Caterpillar Strengths, Weaknesses, Opportunities and Threats (SWOT). Retrieved from http://www. yousigma. com/com parativeanalysis/caterpillar. html. Morningstar. Industry Peers CAT. Retrieved from http://financials. morningstar. com/competitors/industry-peer. action? t=CAT®ion=USA&culture=en_US. The Official Board. Caterpillar’s Organizational Structure. Retrieved from http://www. theofficialboard. com/org-chart/caterpillar.

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