The Injustice Of Slavery :: Slavery Essays

The Injustice of Slavery Slaves were people who were taken from their home land in Africa and brought to America, to serve as servants on farms, doing household chores, etc. Slaves were used from the beginning of time, by people like the Egyptians. Now a days it is illegal to own slaves, but it still happens. And to this day African Americans are discriminated. In my opinion, that is just not fair, they did not ask to come over to our country, we brought them here. We are the ones to blame. Yet, they have to pay. If you were a black man and had a trial with a white jury, you will probably be guilty. If you are a black man, many white people will try to steer clear of you, or look at you in a funny way. How did slaves actually become free, you might be asking yourself. It all began with a man named Abraham Lincoln, he wanted to set slaves free. But the southern states had large plantations and needed slaves to help, so this was not a good idea, in their opinion. This controversy led to the Civil War, which was eventually won by the north, and slaves were set free in America. But people discriminated slaves very much, and that was not good. Discrimination of African Americans is not that big now a days, but it is still out there. Discrimination sort of died out when a man named Martin Luther King, Jr. expressed some of his thoughts about discrimination. His famous speech was entitled "I Have a Dream". Back before his speech, African Americans were not treated as people. They had to stand at the back of the bus, they had to live in a certain area of town, they could not use the white restrooms or

Financial Accounting Final Answers

ANSWERS 1 a) 1 b) 1 c) 1 d) 1 e) 1 f) This transaction has no effect on the balance sheet since this is only an order, no financial value. 1 g) 1 h) 1 i) 1 j) 2 a) a] b] c] d] e] f] g] h] j] k] l] 2 b) INCOME STATEMENT as of April, 30th Sales Revenue$10,000 COGS $(6,500) GROSS MARGIN $ 3500 Salary Expense $(1,000) Rent Expense $(2,000) Utilities Expense   $(200) Depreciation Expense   $(90)TOTAL EXPENSES $ (3290)Net Income: 3500 – 3290 = $ 210 BALANCE SHEET as of April, 30th Cash 3,870 Acc / Pay 5,000 A/R 10,000 (Raw Mat 11,800 + Finished Goods1,500) Inv 13,300 Total Current Assets $ 27,170 Total Current Liabilities $ 5,000 (Depreciation $90) PPE (Net) $ 5910 C/S $ 30,000 Prepaid Rent $ 2000 R/E $ 80 Total Non-Current Assets $ 7,910 SHE $ 30,080 A = $ 35,080 = L + E = 30,080 + 5,000 = $ 35,080 Age |Amount |Estimate to be Uncollectible |Required balance in Allowance| |1-30 Days |$600,000 |%% 0. 70% |$4,200 | |31-60 Days |$175,000 |% 1. 20% |$2,100 | |61-120 Days |$70,000 |% 11% |$7,700 | |More than 120 Days |$10,000 |% 65% |$6,500 | |Year-end balance of allowance for doubtful accounts  Ã‚  Ã‚  Ã‚   = $20,500 | a) The credit balance in the allowance for uncollectible accounts is $ 2,500 20,500 – 2,500 = 18,000 3 b) In case of skimming the adjusting journal entry, since it would show expense understated; balance sheet equation would be overstated comparing otherwise. The reason to that is removal of this amount would present the company as if it contains higher receivable accounts. 4 a i) Cost of Goods Available for Sale = AFS = InvB + Purchases = = (3,500Ãâ€"66) + (3400Ãâ€"64. 75)+(3,200Ãâ€"64. 30) = $ 656,910COGS (LIFO) = (3,500Ãâ€"66) + (3400Ãâ€"64. 75)+(150Ãâ€"64. 30) = 231,000 + 220,150 + 9,645 COGS (LIFO) = $ 460,795 InvE = AFS – COGS = 656,910 – 460,795 = $ 196,115 = (3050Ãâ€"64. 30) a ii) Cost of Goods Available for Sale = AFS = $ 656,910 COGS (FIFO) = (3,200Ãâ€"64. 30) + (3,400Ãâ€"64. 75)+(450Ãâ€"66) = 205,760 + 220,150 + 29,700 COGS (FIFO) = $ 455,610 InvE = AFS – COGS = 656,910 – 455,610 = $ 201,300 = (3050Ãâ€"66) iii) Cost of Goods Available for Sale = AFS = $ 656,910 Total Units = 3,200 + 3,400 + 3,500 = 10,100 Total Sold Units = 3,600 + 3,450 = 7,050 COGS (FIFO) = (7,050Ãâ€"65. 0405) = COGS (FIFO) = $ 458,536 InvE = AFS – COGS = 656,910  œ 458,536 = $ 198,374 = (3050Ãâ€"65. 0405) 4 b) They are to use LIFO calculation in order to minimize Taxes. The reason for that is in LIFO, which is last in first out method costs of goods are calculated starting from the latest purchases, eventually with higher unit costs. So since the expenses will be shown higher taxes for this period shall be minimized. c) Thomas Engine Company is required to use FIFO method should they choose to report higher profits in March. As per FIFO cost for sold goods are calculated starting from the first received material (earlier inventory mostly as in this example) consequently with lower unit costs will take place in calculations for profits. 5) Original Cost = $ 177,600, Salvage Value= $ 9,600, Assumed Useful Life = 6 years Assumed Total Operating Hours = 30,000 hrs a i) Straight Line Method Average Depreciation Expense = (177,600 – 9,600) / 6 = 28,000 $/per year End of Year |Depreciation Expense ($) |Book Value ($) | |1 |28,000 |149,600 | |2 |28,000 |121,600 | |3 |28,000 |93,600 | ii) SYD Method |EoY |Depreciable Base ($) |Depr. Rate |Depr. Expense ($) |Accumulated Depr. $) |Book Value ($) | |1 |168,000 |6 / 21 |48,000 |48,000 |129,600 | |2 |168,000 |5 / 21 |40,000 |88,000 |89,600 | |3 |168,000 |4 / 21 |32,000 |120,000 |57,600 | a iii) Activity Method |End of Year |Hours Operated |Depr.Expense ($) |Book Value ($) | |1 |4,500 |25,200 |152,400 | |2 |5,000 |28,000 |124,000 | |3 |5,500 |30,800 |93,600 | b) c) As it is S/L Method the Average Depreciation Expense = (177,600 – 9,600)/6 = 28,000 $/per yearAccumulated Depreciation Expense at the end of 3rd year is = 28,000 x 3 = $ 84,000 d) As per SYD Table above Book Value at the end of the 2nd year is $ 89,600. Sold Price = $ 73,000 Loss = 89,600 – 73,000 = $ 16,600 Accordingly; e) As per tables above Book Values at the S/L and Activity Methods are same ($ 93,600) and higher than SYD. The reason of this coencidence is at the end of 3rd year, which is exactly the half of assumed useful life, total operating is (4,500 + 5,000 + 5,500) 15,000 hrs, which is also exactly half of the assumed total operated hours. 6) |Second Year |Second Year w/ loan | |Total Current Assets ($) |36,000 |46,000 | |Total Assets ($) |66,000 |76,000 | |Total Current Liabilities ($) |4,600 |4,600 | |Total Long Term Liabilities ($) |—– |10,000 | |Total SHE ($) |61,400 |61,400 | a) Long Term Debt Ratio= LTD / Total Assets = 0 / 66,000 = 0 b) Debt – Equity Ratio = Total Debt / SHE = 4,600 / 61,400 = 0. 75 c) Current Ratio = Current Assets / Current Liabilities = 36,000 / 4,600 = 7. 82 d) LTD / Total Assets = 10,000 / 76,000 = 0. 13 e) Total Debt / SHE = 14,600 / 61,400 = 0. 24 f) Current Ratio = 46,000 / 4,600 = 10 ———————– DR Cash†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 100,000 CR C/S†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 100,000 DR Equipment†¦Ã¢â‚¬ ¦. †¦. 225 CR Acc Payable†¦.. â € ¦ 225 DR Cash†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦. 5,000 † Ã¢â‚¬   †  †  †  †  †  † Ã¢â‚¬  ? † Ã¢â‚¬   †  †  † Ã¢â‚¬   †  †  † Ã¢â‚¬   CR Acc Receivable†¦ 5,000 A = L + E A = L + E DR Prepaid Insu Exp †¦. 3,000 CR Cash†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 3,000 A = L + E DR Acc Receivable †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 5,000 CR Sales Rev†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 5,000 A = L + EDR Prepaid Rent†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 1,000 CR Cash†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 1,000 A = L + E DR Land†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 25,000 CR C/S†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 25,000 A = L + E DR Equipment†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 7,500 CR Acc Payable†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 6,800 CR Cash†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 700 A = L + E A = L + E DR Acc Payable†¦Ã¢â‚¬ ¦. †¦. 225 CR Check/Cash†¦.. †¦ 225 A = L + E Apr, 1st) DR Cash†¦.. †¦Ã¢â‚¬ ¦. †¦. $ 30,000 CR Common Stock. †¦ $ 30,000 Apr, 2nd ) DR PPE †¦Ã¢â‚¬ ¦. †¦. $ 6,000 CR Cash†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦ $ 6,000 Adjusting Entry on Apr, 30th ) DR Depreciation Exp†¦Ã¢â‚¬ ¦. $ 90 CR Acc Depreciation†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. $ 90 Apr, 4th ) DR Inventory†¦.. †¦Ã¢â‚¬ ¦.. $ 10,000 CR Cash†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦ $ 10,000 Apr, 1st ) DR Prepaid Rent†¦.. †¦$ 4,000 CR Cash†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦ $ 4,000Adjusting Entry on Apr, 30th ) DR Rent Expense†¦Ã¢â‚¬ ¦. $ 2,000 CR Prepaid Rent †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. $ 2,000 Apr, 8th ) DR Work in Progress †¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. $ 8,000 CR Raw Material in Use†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦ $ 8,000 Apr, 10th ) DR Raw Material †¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. $ 5,000 CR Acc / Payable†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦ $ 5,000 Apr, 14th ) DR Inventory Expense †¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. $ 4,000 DR Salary Expense†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦$ 1,000 CR Cash†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦. †¦ $ 5,000 Apr, 15th ) DR Inventory Expense †¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. $ 800 DR Salary Expense†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦$ 200 CR Cash†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦. †¦ $ 1,000 Apr, 30th ) DR Accounts Receivable†¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 10,000 CR Sales Revenue†¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦. †¦$ 10,000 Apr, 30th ) DR COGS†¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. $ 6,500 CR Inventory. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦. †¦$ 6,500 Apr, 30th ) DR Dividend†¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦.. $ 130 CR Cash†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦. †¦$ 130 DR Bad Debt Expense †¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. $ 18,000 CR Allowance for Doubt Acc†¦Ã¢â‚¬ ¦. †¦ $ 18,000 Average Unit Cost = =656,910/10,100 = $ 65. 0405 DR Depr Exp †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦$ 28,000 CR Acc Depr†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. $ 28,000 A = L + E DR Depr Exp †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ $ 28,000 Acc Depr†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ $ 28,000 Loss from Asset Disposal†¦Ã¢â‚¬ ¦. $ 16,600 CR Machinery†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. $ 177,600 A = L + E R/EB + N/I = R/EE + Dividend 0 + 210 = R/EE + 130 R/EE = $ 80

Autobiography of a Classroom Essay

I am a very big classroom in a well-known public school. I cater to needs of the kindergarten class of the school, accommodating I think about eighty five children, a big number isn’t it? I understand that I am the best looking room in the school as, the very small children study here. I am very attractively decorated so that the little ones like to come here every day. The room that is me – is decorated with beautiful coloured pictures. The walls are a blend of some colours I do not know the names of. The furniture that is placed in the length and breadth of the room consists of small round tables to seat four children on each table, and the chairs are also tiny. That is not all, all the furniture is a mixture of many colours. When the children come inside the class they almost fight to sit on certain chairs. That makes me understand that they like the colours and fight for their favourite colours to sit on. At the top two ends of the length of the classroom there are two bigger tables and full size chairs for the teachers to sit. Since there are so many children there are two teachers while in other classes there is only one each. I am a treat for everyone to see. My pleasure knows no bounds when everyone who comes inside the class, admires me, appreciates my get up and the colours that don me. I have the twin advantage of being the most beautiful room in the school and also having the cutest of children coming to spend their time with me. Thus, my life is full of beauty, colour, noise and laughter and at times of course also crying and howling of the children. At times some new entrants to the school come to me with their mothers and, cry as if they had come to the slaughter house to be butchered. At such moments even by heart cries for the little ones and I wonder why man makes these little children come to study if they do not want to. I of course do not know how important studies are for human children, I only feel sad seeing the children cry. My life is full of a very busy schedule though very interesting. The routine of my daily life is so busy that, I do not get any relief for quite long hours. In the morning as early as 6 a. m.two sweepers come open the lock of my room or rather me, and off they start working on me. They sweep my floor, squab it, dust each and every piece of the furniture in me. Thus, I get alerted as soon the room is unlocked. It is not even 8 a. m. when the little brats start pouring inside my body’s doors. At times they enter with so much noise that my whole body feels the rattle of it all. Their movements are so loud that now, I cannot even think of any rest. School bags get flung, tiffin boxes are strewn all about, water bottles are kept just anywhere and there is a lot of commotion all over. Soon the maid enters the room and keeps everything in order and my appearance at once improves and I look tidy and well kept. For these small ones the school hours are just three from, 8 a. m. to 11 a. m. These three hours is my duty time, and just is the time when I also get the day’s entertainment. Being a classroom for the Kindergarten children I get a great chance of hearing conversations between the teachers and the parents. Since this is the first time their children have entered school, parents devote a lot of time to talking about the school and its standards. At times I find that some parents are just too critical and, inspite of getting all the best in this school they always seem to be unhappy and dissatisfied with something or the other in the school. Such parents keep lecturing about things missing in the classroom, the school or even in the playground. When I hear such complaints, my heart sinks and I wonder if they will allow or not allow their children to come to me any more,. For such conversations I have understood that, these days parents pamper the children too much, and it seems that they can never yes, never be satisfied. I am quite surprised to see the vast difference in opinions. While on the one hand I, and also many parents think that I am very beautiful, well kept, and decorated, others of the same clan are always complaining of many defects in my appearance. This gives me a feeling of depression and I do wonder if I can do anything in the matter. After some thinking bouts, I realize that, I can do nothing to satisfy these unhappy parents. I am just here in the hands of the school authorities and stand here as and how they keep me. My working hours are just six, from 6 a. m. when sweepers enter to say 12 noon when I am locked after all children go. After my duty hours I just relax but also feel lonely. No matter what is said about me, I am thoroughly enjoying my life in the cute company of little children. Their company makes me also feel young though now I am quite old. Every summer vacation I am painted afresh, my furniture is painted, and, I am ready to welcome my little friends, new and old with a new look, new enthusiasm and renewed vigour. I pray that my life is forever allowed to remain so interesting and so relaxed. I just love all the children and teachers who come here to me, to work and play in the restricted area within my four walls.

Argument Paper on Exercise Essay Example for Free

Argument Paper on Exercise Essay 1-The Benefits of Exercise and Sports Participation for Kids- e Diet Star This article focuses how benefitical it is for young kids to participate in sports and to exercise regularly. It talks about how exercise and sports offer social relationships, physical challenges and honest competition. Also, exercise and sports can increase a child’s self-esteem and academic performance while preventing the chances of disease or drug use. All these things can help the development of children by not only making them healthy but giving them life experience. 2-Fitness Benefits For Teens- This article list the specifics on the benefits for teens to be fit. It says that physical activity doesn’t have to be time consuming but it is necessary for everyone. Some of the facts about teen exercise given by this article are that nearly half of American children ages twelve through twenty-one are not regularly active. About fourteen percent of young people report no physical activity at all. Also, only nineteen percent of all high school students are active for twenty minutes or more, five days a week. The main focuses point of the article are the physical activity helps build healthy bones, muscles and joints. It helps control weight, build lean muscle, and reduce fat. 3-Find Mind-Blowing Benefits of Exercise- This article tries to get a point across, it starts by saying that exercise isn’t all about getting toned abs and losing weight but that it makes you feel happy. There are five main points that this article talks about. The first once talks about how exercise reverses the detrimental effects of stress. Second, it talks about how exercise can help get rid of depression. Next, it is discussed how exercise can improve learning by increasing brain chemicals called growth factors. Furthermore, exercise builds self-esteem and improves your body image. Lastly, it leaves you feeling euphoric which means that the push and intensity of a workout makes you feel happy and excited. Argument Paper on Exercise. (2017, Jan 19).

Crime control Essay Example | Topics and Well Written Essays - 1000 words

Crime control - Essay Example Whenever such a crime takes place, first there is a process of justification for the action that was allegedly conducted. After that all the possibilities are analyzed that is related to particular crime. Therefore, the person is under a trial. Honesty is of the most important purpose of all the trials. (Pollock, 2007) If there will be no honesty then there will be no one who will get justice. All the judges have to be honest to give justice to everyone. All the witnesses have to be honest. Therefore honesty and justice goes together. Today justice occupies the part of morality that is identified with the good or someone getting justice. Without honesty there will be injustice, evil and wrongness everywhere. Today the current legal system works justice is usually equated with honesty. An honest justice system would give that justice to everyone. (Pollock, 2007) This paper will also discuss about the ethical consideration that are affecting the criminal justice system in many different ways. It explain in great detail about how these ethical issues are affecting our criminal justice system, complainants, the accused, the criminals, the complainants and the law enforcers . This paper also explains the due process model. The main purpose of the due process is to protect the rights of the accused and it provides a system of safeguard that will help in combating the abuse within the law enforcers and the crime control model which promotes the reduction and elimination of crimes by the agents of law and the police. (Close, & Meier, 2004) When it comes to understanding the Criminal Justice System there is a question that everyone asks about, does honesty always help to get justice Justice is defined as a system of law or scheme law in which every person gets his or her due from this system, including natural and legal rights, while honesty is very important in telling the truth or freedom from fraud or deceit. Whenever there is crime committed around the world, with a possibility that it may be even every hour however, but not all of criminals who commit these crimes end up in jail for many different reasons. The first reason is that the criminals are not caught by the concerned authorities and even if they are caught by the police, they use top lawyers who will provide legal justification for the crime committed by a particular criminal. (Close, & Meier, 2004)But if the rationale for justice is ignored then the freedom from deceit will not necessarily lead to justice. Sometimes after detection of a certain crime, Jus tice and punishment are the most vital areas in international Justice and crime. If a common man is a victim of kidnapping, robbery, domestic violence, murder and any street abuse then the victims seek the guidance and assistance FBI and police personnel for bringing justice by implementing different legal actions and criminal procedures. Every country of the world has its own law or state law of policemen who possess authority and every right on the citizens of that country who are caught red-handed with solid evidence at the time of commitment of crime. (Poulin, & Nemeth, 2004)

Small Business Planning and Entrepreneurship Essay

Small Business Planning and Entrepreneurship - Essay Example Thus, the entrepreneurial mindset add value in the business environment through turning problems into opportunities where the common mindset may not perceive any solution to such problems, considering that if the solutions to the problem were obvious, then, the problems would already have been resolved (Gerber, 2012:n.p.). The GET results indicate that an individual scoring highly in the need for achievement criteria as forward thinking, optimistic, self sufficient and results oriented. In this respect, this entrepreneurial mindset is essential to add value to the business environment, through establishing and sustaining a positive attitude regardless of the challenges that might be faced by the business (Whiteman, 2003:77). The concept of optimism means that the entrepreneur still keeps a positive attitude even when there are numerous negative voices that say it cannot be done. While a common mindset will yield to pessimism and give up on trying, the entrepreneurial mindset is unrelenting and keeps forging ahead with seeking solutions for the existing problems (Anders & Lois 2005:33). Therefore, as opposed to a business owner or a manager, creating a business for an entrepreneur is like writing a book, considering that for an entrepreneur, the business created is not merely a business, but something that has a meaning, and which drives the entrepreneur to continue pursuing the vision, even when it is apparent that there are high risks for the business failure (Gerber, 2012:n.p.). According to the Schumpeter’s innovation theory of entrepreneurship, an entrepreneur is that individual who perceives the opportunity to innovate, thus taking a different path from the normal path trodden by the society, in meeting the same societal need (McCraw, 2007:72). The entrepreneur will chart entirely new paths through which the problems within the

Principles of Operations Management by J.Heizer & B.Render Essay

Principles of Operations Management by J.Heizer & B.Render - Essay Example Creating an image thus refers to the process of determining the perception the organization seeks to influence on its different publics. The organization interacts differently with its different publics. Among the publics is its staff, the customers, shareholders and the media among others. The management of the organization must determine the perception that each of the groups have about its operations in order to maximize of profitability (Hill & Jones, 2011). In analyzing the importance and the process of image building, the author uses the metaphor of a porter who at the beginning of his crafting work has a piece of clay but must work and create a new product from the same. The porter therefore conceptualizes an idea and determines the best way of executing through an appropriate design. In the metaphor, the author sees managers as artisans and the strategies they use to approach the various organizational publics as their clay. Just as the porter some must they employ the most a ppropriate strategies to earn the organization the best reputation among every audience group in order to sustain the organization’s profitability objective. Strategy determination is most important; the managers must determine an appropriate strategy of executing a plan of action with the view of achieving a particular objective. The strategy is important to the artisan just as it is to the managers. The author of the article approaches the concept as a review of the organizations past performance and its plans for the future. In crafting a pot or nay other clay product, the craftsman will refer to his past works before infusing such thoughts with the future products. Using his past works as a reference to influence his current work, the porter thus creates a new product that best fits his objectives. The same scenario applies to managers who must make effective managerial decisions on an everyday basis. The decisions the managers make influence the public’s perceptio n about the organization. In doing this, the managers must therefore use their experiences at the organization. An analysis of past decisions provides managers with an effective and reliable reference points (Mintzberg, 1971). The managers thus refer to the outcomes of past decisions of the diverse publics the organization has before constructing a current decision, which must also reflect the organization’s future. While the future is always a gamble, the past on the contrary is concrete owing to the fact that the organization had previously experienced the same. The managers thus make decision using the past reactions of the same publics but project such reactions on the future. In case of desirable reactions, the organization must improve on such with the view of increasing the scope of the organization’s acceptance among its specific publics. In case of an undesirable reaction by a particular public, the managers must seek to redress such by employing effective fut ure decisions that best address all the points of weakness in the past decisions. The author asserts that managers must read the mind of the organization. In doing this, the manager must assume the position of the specific public and therefore work on strategies that are effective enough to address their particular concerns about the organization. The process is cumbersome but requires an equally effective market research. Marketing is a management role concerned with the determination, identification and the sustainment of the customer’s demands from the market. Marketers as managers thus rely on the quality of their market researches to determine the future productions of the organization. The same is the case with all other managers when determining the strategies of solving