Business Management of Owning a Construction Company Essay

Owning a construction company requires good planning whereby the management puts several measures in place to ensure that a company performs well to generate enough money that aids it run its operations. Availability of surplus raw materials is one of the important factors to consider while managing a construction company. A construction firm should have enough laborers who offer services to customers and who work at the production stage. Running a construction company requires that the management come up with a good marketing strategy that allows the company to attract as many clients as possible to allow the organization generate enough income to carry out its activities effectively. Keeping records in an organized manner makes it easy for a construction company to make references and also to avoid loss of data. Managers who plan their activities wisely and accordingly in a construction company are in a better position of elevating the profit that the company generates and to impro ve the quality of goods and services that the firm offers. Definition of Important Concepts Management is a common term that this paper uses and it means to adopt effective measures as a leader that help to run an organization in an effective manner. The term construction is also common in this analysis and it means to come up with projects such as buildings, bridges and roads using qualified personnel. Counterarguments Even though raw materials are essential in the running of a construction company, some companies lack them due to poor management which in most cases leads to the fall of a business. Other construction companies lack enough laborers and this makes the available workers to strain with their work which in most cases lowers the outcome of construction companies. Lack of effective marketing strategy and lack of proper ways of record keeping also in many instances lead to the downfall of many construction companies because they are not able to generate sufficient income from different customers and they experience confusion respectively.This report makes use of an imaginary company by the name of Davis Construction firm to expound on the management of owning a construction company. As part of its activities, this construction firm produces building bricks from clay soil, produces celling boards that builders fit inside houses, and also hires professional masons and other construction desi gners to people or organizations that want to come up with buildings. To attain its goals, the management of Davis Construction firm must take into account several measure that will help it run its activities. Availability of Raw Materials First of all, the manager of this organization must ensure that there is a continuous flow of raw materials to enable the firm continue with its production. In this case, the essential raw materials that Davis Construction firm needs are clay soil to manufacture bricks, wood chips to manufacture celling board, and sufficient water to carry out the mixing process. Other raw materials that this organization needs to produce its goods include chemicals that it uses to carry out its production. A good manager will carry out a research on the best places to acquire the raw materials so that the firms does not experience delays in its production process. To ensure a steady supply of raw materials in a construction firm, managers should have more than one source of suppliers who deliver raw materials to the company. Having more than one source of supplier who supply the same product is important because this allows a company to carry out its activities continuously not to inconvenience customers. In many instances, unreliable suppliers make business managers to consider alternative ways getting raw materials to carry out an organization’s activities (Alonso, 2007, p. 3). Another way in which the manager of this company and any other construction company can ensure constant availability of raw materials is by establishing nearby sites that generate enough raw materials to run the activities of an organization. For example, to have a constant supply of water, the manager can hire professionals to come and dig boreholes that will provide surplus water to the firm at a much cheaper cost. Availability of Workers Effective management of a construction company calls for hiring enough laborers who help in running the organization’s activities. A wise manager will therefore, put measures to ensure that the laborers share work equally and that they do not strain while carrying out their activities. The laborers in a construction firm should fall into several sections where each worker partakes in the activity of his specialization. By each worker taking part in the activities of his specialization, a construction firm will attain accuracy in all the goods it produces and all the services it offers. To get laborers of sufficient knowledge to carry out their activities, the management of Davis Construction Firm should carry out a test while recruiting laborers after ascertaining their credentials. Even though it is a common occurrence in many countries that construction activities attract workers with low educational level (ILO, 2001, p. 12), it is important for managers to hire workers with high qualification to do their job perfectly so as to come up with products and services that satisfy customers’ needs. The management should ensure that workers get sufficient training to enable them carry out their duties with preciseness. As a way of improving the technical skills of their workers, managers should organize educative seminars where other professionals offer theoretical and practical knowledge to the workers. Good managers take the initiative of helping technicians who show great ability in their duties attain further training and also to serve as motivation to the co ntractors. Managers in a construction company should also take their workers to tour different construction firms because if they fail to do this, it will be impossible to compete favorably with other construction firms. Marketing Strategies A construction company should adopt effective marketing strategies that allows it to reach customers from different geographical regions. After intense research about marketing strategies, managers in construction companies such as Davies Construction Firm should come up with a suitable way of marketing the goods and services that the firm offers. To effectively reach customers from different regions, managers who run construction firms should adopt reliable channels such as the internet and publications because these two are able to carry so much information about a company and are also able to transmit information within a very short time. Enhanced technology has improved communication and marketing which has positive effect on inter-organizational relationship and communication (Avlonitis & Karayanni, 2000, p. 442). Managers in a construction firms should appoint certain people with the right qualification to manage the company’s website and to attend to customers’ n eeds. In a business organization, it is important for managers to create a customers’ department wing to improve the quality of services and to build a long-term relationship with the customers (Rust, Moorman, & Bhalla, 2010, p. 5). Record Keeping Managers who run construction companies should adopt better ways of storing vital information. Good forms of record keeping enable construction companies to make necessary reference whenever conflicts or discrepancies occur. For example, Davis Construction Firm can adopt better ways of record keeping by using computers that are able to store large amount of data for a very long time. People in charge of electronically storing data must be very keen in their activities to ensure that the information stays for a long time without getting lost (Trace, 2002, p. 138). Managers in a construction firm should also adopt a way of keeping records that is easy to retrieve information. Some of the advisable ways of keeping records in a manner that is easy to retrieve include using alphabetical orders, storing records according to the subject and keeping records in accordance to urgency. Conclusion Managers who run construction firms should take the initiative of helping the company attain its goals. As part of their management duties, managers should be able to come up with ways that ensures a constant and sufficient supply of raw materials to enable the firm carry out production of goods and services continuously. A manager should also be able to ensure that a construction firm has enough workers who help in carrying out the activities of a company in accordance to their area of specialty. Coming up with an effective marketing strategy helps to reach customers from different regions and therefore, be able to generate enough money for the construction firm. Above all, a manager in a construction firm needs to device effective methods of storing vital information about past and current operations of a construction firm. References Alonso, E., et al. (2007). Material availability and the supply chain: Risks, effects, and responses. Massachusetts Institute of Technology.Avlonitis, G., & Karayanni, D. (2000). The impact of internet use on business-to-business marketing: Examples from American and European companies. Industrial marketing management 29(4) 441-459. International Labor Organization, ILO. (2001). The construction industry in the twenty-first century: Its image, employment prospects and skill requirements. Geneva. Rust, R., Moorman, C., & Bhalla, G. (2010). Rethinking marketing. Harvard Business Review. Trace, B., C. (2002). What is recorded is never simply ‘what happened’: Record keeping in Modern organizational culture. Archival Science 2(7), 137-159.at is Recorded is Never Simply ‘What Happened’: Record Keeping in Modern Organizational Culture Source document

What Custom Term Paper for You Is - and What it Is Not

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Government response to terrorism Free Essay Example, 3250 words

Over the same period, over 50 international organizations were blacklisted as perpetrators of terrorism. Among the blacklisted organizations include Al-Qaeda and Hezbollah. Currently, most organizations involved in terror acts are Islamic militant groups. With respect to terrorism incidents over the past two decades, UK has not been exempted from being targets by violent extremists. Fraser and Staniforth (2012) say that in 2001, a suicide bomber detonated a car bomb outside BBC’s news offices, injuring 1 worker. In June 2007, an Islamic extremist group called Jammat Ul-Furquan conducted a bombardment mission in Glasgow International Airport, which injured only the suicide bomber. Last year, a terrorist named Pavlo Lapshyn detonated an explosive device outside a mosque in Tipton. Origin of Islamic Terrorism In the past, UK used to battle with terrorist groups from Ireland and those from Central European nations. However, the UK government now worries more about Islamic terror groups than radical extremist from other European nations. Islamic terrorism started in the late 1960s as a result of overflowing Israeli-Palestine conflict. In 1968, a terrorist group called Popular front for the Liberation of Palestine (PFLP) successfully hijacked a plane on route to Rome, Italy. We will write a custom essay sample on Government response to terrorism or any topic specifically for you Only $17.96 $11.86/pageorder now The airline attack was directed towards coercing the Israeli government into giving in on some political demands. After the incident, Western Alliances including the UK joined an operation to support Israeli forces in fight against terrorism. Consequently, sympathizers of Palestine, especially extremist groups from other Islamic nations started siding with Palestine. In addition, radicals inside Europe started aligning with Islamic extremists in order to coerce and intimidate European governments. Currently, Pakistan and Afghanistan features as the two epicenters of Islamic terrorism activities. Current State of Terrorism The UK government did not intensified responses to terrorism until after the 9/11 attack on World Trade Center. In the past, terrorist groups were small extremist organizations engaged in small time bombing of cars and few carriages in train stations. However, terrorism has evolved into state sponsored political strategies. Currently, certain states finances, train and protect militants involved in terror activities. According to Fraser and Staniforth (2012), relationship between these militants and the sponsoring state is based on mutual political interests. For example, Iran is currently engaged in development of a nuclear program.

White Collar Crime Fbi Investigation - 1552 Words

Introduction: It was 13 years ago that the announcement of bankruptcy by Enron Corporation, an American energy, commodities and service firm at the time, would unravel a scandal resulting in what is regarded as the most multifaceted white-collar crime FBI investigation conducted in history. High-ranking officials at the Houston-based company swindled investors and managed to further their own wealth through intricate, shifty accounting practices such as listing assets above their true value to increase cash inflows and earnings statements. This had the effect of making the company and its shares look more enticing than they really were to potential investors. Upon their declaration of negative net worth in December 2001, shareholders filed a $40 billion lawsuit against the company, citing a drop of shares from around $90 per share to around $1 per share within only a few months. In light of these events, officials at the Securities and Exchange Commission (SCE) were prompted to initiate further in vestigation to figure out how such a drastic loss occurred. White-collar crime can be summed up in a nutshell by the following three deviant behaviors, all of which we hope to establish as morally wrong to our youth: lying, cheating and stealing. The term, coined in 1939, has become an umbrella term encompassing a full spectrum of frauds committed by business (potentially corporate), government professionals and a growing number of individuals capable of cyberspace hijacking. TheShow MoreRelatedFederal Bureau of Investigation (FBI Essay550 Words   |  3 Pages The mission and values of the Federal Bureau of Investigation (FBI) is up held with strong Constitutional values. Over the years since the FBI was created in 1908 by Attorney General Charles Bonaparte during the Presidency of Theodore Roosevelt. As a progressive during this time period Bonaparte applied his philosophy to forming the FBI with several corps of agents. His thought was that these men should have expertise and not political connections. With the U.S. Constitution based on â€Å"federalism†Read MoreExplain the Differences Between Criminologists, Criminalists, and Forensic Psychologists and What Is the Difference in Their Disciplines of Expertise.1550 Words   |  7 Pages CRJS105 –1103b-04 Theories of Crime Causation August 28,2011 Abstract In this paper I will explain the differences between Criminologists, Criminalists, and Forensic psychologists and what is the difference in their disciplines of expertise. As well as looking at blue collar crime vs. white collar crime, how they are reported and measured by the FBI in their uniformed crime reporting. Also how blue collar crime is much more popular culture by the media. AndRead MoreCrime and Forensic Psychology1117 Words   |  5 PagesBambam2 Because  crime is one of the more appealing themes in popular culture, the public receives a skewed version of crime. The public’s knowledge may be particularly lacking with regard to the entire field of criminology, the differences between blue-collar and white-collar crime, and the general perception of the incidence of crime in the United States. You are asked, as the public relations representative of your police department, to provide an information session on the field of criminologyRead MoreHistory of the Fbi and Women1574 Words   |  7 PagesBureau in 1924, he inherited two female agents: Jessie B. Duckstein and Alaska P. Davidson, who both resigned within a few months as part of the Bureau’s reduction of force. In 1972, JoAnne Misko and Susan Malone were the first two women to enter the FBI Academy. In 1978, Special Agent Christine Karpoch (Jung) would become the first female firearms instructor—and she would shoot the coveted â€Å"possible,† a perfect score on the FBI’s Practical Pistol Range. In 1990, Special Agents Susan Sprengel andRead MoreA White Collar Criminal s Social Position Should Not Determine The Length, Term And Type Of Punishment1522 Words   |  7 PagesInformation Should Set You Free A white-collar criminal’s social position should not determine the length, term and type of punishment. The circumstance and type of white-collar crime should influence state and federal officials on the punishment. Some high profile crimes have been thoroughly planned and taken years or decades to execute. 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Influenced by the Progressive Movement and the belief that the federal government’s intervention was required to alleviate injustices in a dark society of corruption where a war between capital and labor raged, PresidentRead MoreWhite Collar Crime: Ponzi Scheme with a Focus on Bernard Madoff1652 Words   |  7 PagesWhite Collar Crime: Ponzi Scheme with a Focus on Bernard Madoff NAME College White Collar Crime: Ponzi Scheme with a Focus on Bernard Madoff Most people, when they hear the word â€Å"crime,† think about street crime or violent crime such as murder, rape, theft, or drugs. However, there is another type of crime that has cost people their life savings, investors’ billions of dollars, and has had significant impacts of multiple lives; it is called white collar crime. 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Cultural Wedding Ceremony Comparison Free Essays

Every country has their own way of marrying two people that want to spend the rest of their life together. Each has their own unique ritual of how they go about a wedding ceremony. African and Chinese cultures both have very intriguing ways of how they proceed with their ceremony. We will write a custom essay sample on Cultural Wedding Ceremony Comparison or any similar topic only for you Order Now It is found that there are many differences between the two of these cultures. This is a result of their own independent beliefs and traditions which causes them to go about their own unique ritual, although there are few similarities between the two countries. In the Chinese culture the wedding date is chosen based upon astrological signs and birthdates. Every Chinese ceremony commences on the half an hour which is the belief that will guarantee good fortune for the new couple. The night before wedding day the bride is bathed in citrus-infused water in another belief that it will cleanse her of her evil influences. This is the only way in which the two ceremonies are similar because they both consist of the bride being bathed before the wedding, although which is done in their own individual style. The bride in a Chinese wedding will be seen wearing three different dresses throughout wedding day. These dresses include a traditional white dress, a traditional Chinese bridal dress, and a cocktail dress. Also the groom will be placed through a series Mitchell2 of tests and stunts to prove that he is worthy to claim his future wife. When the bride arrives at the grooms’ home she is always greeted with firecrackers, gongs, and is forced to jump over an iron basin lit with charcoal to represent prosperity and to again cleanse of all evil spirits. The Chinese culture with also uphold their traditional tea ceremony. The bride will serve tea to her parents as a sign of respect. The Chinese wedding ceremony is always filled with symbolism. Their ceremony represents a ladder that the new couple will climb to success. On the other hand the African wedding ceremony is a tradition that stems all the way back to the days of slavery when slaves were not allowed to marry. Their marriage ceremony is a ritual well-known as â€Å"jumping the broom†. This ritual was created to represent the beginning of their new life together. The new couple will jump over a broom at the same time and are pronounced married after they have done so. The broom is often decorated with ribbon and tulle. On wedding day the bridesmaids bathe the bride in hammam before dressing her previous to the ceremony. During a libation ceremony a prayer is said and an elder presents water and liquor as an offering to god and their ancestors for their blessing. Then the groom will ask permission from the brides’ mother to marry her daughter while presenting her father with gifts to symbolize his ability to care. Another tradition is the tasting of the four elements during the ceremony. The four elements consist of lemon for sour, vinegar for bitter, cayenne for hot, and honey for sweet. The four tastes are a symbol of the different moods of married life. Sometimes tribes will mound the couples’ wrists with plaited grass when walking down the aisle, and others just hold hands. Mitchell3 The difference between these two countries with their ceremonies represents their freedom of independent beliefs, which leads to separate traditions. Although, the similarities between the two ceremonies are also intriguing. Both wedding rituals consist of a lot of symbolism. Most of the symbolism that is present for both cultures also represents their beliefs, and every time their beliefs are symbolized is how their cultures are shown to be unique. How to cite Cultural Wedding Ceremony Comparison, Papers

Company Valuation - Accenture free essay sample

Return on equity of Accenture for 2008 at 80.21%   shows higher level performance than the industry   2.86% . Even if the basis of comparison is on the average for a five year period , that of the company has outperformed the industry by more than four times that in industry at 62.86% for ACN as against that industry average of 14.12%.   See Table 1 above.   An average return on equity of 62.86%   for the past would definitely attract   investors as it would mean that for every US$100   investment, the investors would be getting more than half of the amount every years.   That would me in effect earning even more than 100% compared with the US base rate of 0.25%.   ACB indeed could be envy of many companies not only within the industry but also from other industries. The company is likewise very efficiently managed using the company’s ROA of 21% as against the industry average of 0.93%.   Such could be further proved in terms   of operating margin for the latest twelve-month period of   12. We will write a custom essay sample on Company Valuation Accenture or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page 42% as against 1.34%   industry average and in terms of net profit margin for the latest twelve-month period of 8.91% as against industry average   of 0.97%. See Table 1 above. Operating margin represents the margin after deducting cost of sales or services and operating expenses. Things need to be added or deducted further to arrive at net profit margin computation.  Ã‚   The extracted ratios mean that the management of Accenture   is doing well in the management of company assets with the participation of employees in delivering value to customers, therefore, thus the company is both profitable and operating efficiently (Meigs, Meigs and Meigs, 1995).   Liquidity connotes being able to meet a company’s currently maturing obligations and is measured normally using the current ratio and the quick asset ratio (Brigham and Houston, 2002).   Computing current ratio uses current assets to be divided to current liabilities while quick assets ratio is almost the same except that the inventory and prepaid expenses are being removed from the current assets to have a new numerator but the denominator is the same. Quick assets therefore normally include cash, marketable securities and accounts receivable and the use of quick asset ratio is very much relevant for one intending to have higher form of measuring liquidity. In such case, one would prefer quick asset ratio to that of the current ratio. If the principles   are applied now, the quick ratio of Accenture is 1.38 as against industry average of 1.85, while its current ratio was also lower at 1.38 as against industry average 2.02. Both ratios have shown lower than average but the company may still be considered liquid since a current ratio of at least 1.0 would mean that the company has sufficient current assets to pay its currently maturing obligations. In fact its interest coverage was 19.07 as against industry average of 0.39 thus indicating capacity to pay by a large margin. See Table 2 above.   Solvency Solvency refers to the company’s long-term capacity to keep up it stability over the long term (Meigs, Meigs Meigs, 1995). Normally measured by the debt to equity ratio, with the formula of having the total debt of the company divided by its total equity, a company solvency should inform investors that the company   will not survive   in the short term but it must also have a long life to recover long term investments which takes years to produce the needed returns. The debt to equity ratio of Accenture for 2008 was 0.06 as against industry average of 70.92.   See Table 2 above. The company ratio is indeed very low which means that ACN is very much solvent and stable as the company is financed mainly the stockholders’ investment. Given the very high profitability of the company under its present capital structure, it would mean the it may not resort to more borrowing in the short run and the benefits appear to accrue mainly to stockholders.   Ã‚  With its good solvency as a proof of good capital structure,   Accenture   has great changes of expanding in the future. With good solvency also, the company faces less risks than its competitors. On company’s earnings quality by comparing income statement with cash flow, looking at the company’s use of accounting principles and financial statement disclosure and foreign currency translation and earnings management. The company’s cash flows   reflected positive increase in net cash inflow per year after considering cash from operating, financing and investing activities except in 2005, which was too small compared with the average. The good results would confirm the good profitability of company as found earlier in the income statement as validated in the profitability ratios (Reuters, 2009a). The company appears also to have complied with requirements of the generally accepted accounting   principles   (GAAP)   in terms of the use of accounting principles and financial statement disclosure on foreign currency translation and earnings management. This finding is supported by the company’s external auditor having issued an unqualified opinion as to compliance with GAAP for 2008 (Reuter.com, 2009a). Having seen no ground to make adjust on the financial information, this researcher has left unchanged the information as basis of preparation of the financial ratios used earlier.   Hence the company’s earning’s quality may be considered credible as presented, audited and further verified by this researcher. To conclude, this paper has found Accenture to be more profitable, more liquid, and more solvent than the many of the rest of the players in the industry.   Its earnings quality was also found to reliable based in the unqualified opinion of the auditor, which validates compliance with GAAP.   The company is a recommended target for stock investment. References; Brigham and Houston (2002) Fundamentals of Financial Management, Thomson South-Western, London, UK Meigs, Meigs and Meigs (1995) Financial Accounting, McGraw-Hill, London, UK Reuters.com (2009a), Financial Statements for 2004 through 2008, {www document} URL,   http://www.reuters.com/finance/stocks/incomeStatement?symbol=ACN.N, Accessed April 30,2009 Reuters.com (2009b), Financial Ratios, {www document} URL,   http://www.reuters.com/finance/stocks/ratios?symbol=ACN.N,   Accessed April 30,2009

Social Stratification

In the case of the United States, economic, gender and social stratification has changed over the centuries (Tischler, 2010). The significant changes in economic, gender and social stratification are brought about by changes in the political, economic, and social landscape of this nation. There is one major transition point that played a critical roles in the said transformation.Advertising We will write a custom essay sample on Social Stratification specifically for you for only $16.05 $11/page Learn More This is the transitions from an economy dependent on manual labor to an economy based on mechanization and other forms of technology that resulted in the industrialization of the nation. These transitions on the other hand were aided by the effective expansion and development of the education system in this country. Before the United States became a geopolitical nation, it was a colony controlled by the British Empire. In that period of time before Ame rica was a sovereign state, the British introduced slave labor. Therefore, the social stratification during this period was simplified into farmers, plantation owners and slaves. The farmers will be considered poor by today’s standards but they are better off if compared to the Negro slaves. The economy was based on agriculture. It was also a male dominated society. Women played minor roles in nation building and focused on domestic work. The industrialization of the United States coincided with the emancipation of the Negro slaves. Beginning in the latter part of the 19th century the issue of race became a major bone of contention in different social spheres. Former Negro slaves were no longer forced to work under a slave master or a plantation owner. However, they were treated second-class citizens. More importantly the former slaves did not own any property; have very little money; and mostly illiterate. The Southern states can be characterized by extreme poverty especiall y if one considers the plight of the former slaves. In the Northern states, the social, gender and economic stratification was affected by industrialization. Farmers who used to work in the farms migrated to the cities. Industrialization created new social classes because the workers are paid on an hourly basis. They have no share of the profits and those who had the capital to establish factories raked in the majority of the income of the said enterprise.Advertising Looking for essay on social sciences? Let's see if we can help you! Get your first paper with 15% OFF Learn More Industrialization was not only limited to the Northern states, factories began to sprout all over America. Industrialization proved to be an efficient way to harness resources and it did not take long before the economic benefits trickled down to the masses. A new social class was created in the 20th century and these are: Upper class; Corporate class; Middle and working class; Those who are po or (Andersen Taylor, 2011). Technology enabled many to achieve greater economic success. Based on the new social order and economic power of individuals, many Americans were able to access higher education. As a result the feminist movement succeeded in promoting gender equality in the workplace and the homes (Kendall, 2011). Conclusion The transformation of the economic, gender and social stratification in this country was brought about by changes in the political, economic and social landscape. The highpoint was the transition from manual labor to industrialization as well as the rapid changes in technology that paved the way for new social classes in the 21st century. It has to be pointed out that when America was still a colony of the British empire, the socio-economic stratification was simple. The upper class was comprised of plantation owners and the rest were farmers. The introduction of Negro slaves created another social class, nevertheless, the stratification was simple . But the advent of industrialization, coupled with significant changes in the economic and political spheres paved the way for greter social mobility. References Andersen, M., Taylor, H. (2011). Sociology: The essentials. OH: Cengage Learning. Kendall, D. (2011). Sociology in our times. OH: Cengage Learning. Tischler, H. (2011). Introduction to sociology. OH: Cengage Learning.Advertising We will write a custom essay sample on Social Stratification specifically for you for only $16.05 $11/page Learn More This essay on Social Stratification was written and submitted by user Korath to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.