Write It Right Assignment Example | Topics and Well Written Essays - 250 words

Write It Right - Assignment Example Is the text clear and readable? Is papers structure logical? Do all my ideas coincide with the structure of my message? Can I change anything else in the message to make it better? ("Revising your Thesis"). According to POWA the four elements of the "writing context" are Content, Purpose, Writer, and Reader. Every writer, who is not writing for fun, has the purpose of his message. This purpose is embodied in message content, and is intended for certain readers. If I were the reader of my message I would have asked the following questions. Who is the writer and what type of person is he/she? What was the initial purpose of a writers message? How did writers features and mood influence the content of the message? Am I the only type of readers, for whom this message was created? Could I understand the content wrong? ("The Writing Context"). Very often a writer-beginner or the one without experience uses too many words while writing a paper, which are unnecessary and prevent a reader from understanding the main idea of the text. "Tightening" is one of the text revising technique, that allows to cut the excess words from a message, thus making it shorter, but more smooth and clear. "Tightening" can be done by restructuring a sentence or phrases in it to omit some of the words, making one big sentence from several short ones, using synonyms or set expressions instead of long descriptions and definitions

Quality Standards Essay Example | Topics and Well Written Essays - 2500 words

Quality Standards - Essay Example The paper further provides a comparative analysis of the strategies adopted by the department before and after the abolishment of the CAAs. Introduction According to Cote (2009), the Quality Assurance (QA) systems used by the Nottinghamshire Fire & Rescue Services (FRS) have traditionally been developed from several important commitments and principles outlined by the government with regards to public services. The framework for QA is based primarily on developing long-term policies and strategies that deliver tangible outcomes without focusing solely on short-term issues. The quality of service provided is measured with respect to the satisfaction levels among citizens and whether they full all their requirements. As such, QA procedures and systems used by the Nottinghamshire FRS do not give any special preference towards providers. Improving efficiency and providing quicker services without any room for mediocrity are also other parameters that have been given due importance by the QA systems (Odpm, 2009). As the subsequent paragraphs will demonstrate, the Nottinghamshire FRS also realizes the crucial role of technology in its operations and has made some important investments to include technological developments within its internal workflows. From an economic perspective, Nottinghamshire has faced two major challenges over the preceding decade. PAC (2009) says that the region faces a low level of innovation and income levels when compared on a national scale which has resulted in fewer jobs within the private sector. Between 2008 and 2009, the local economy faced the greatest challenge from the financial crisis and global recession. This has increased unemployment and has affected several industrial sectors within Nottinghamshire. In this scenario, the public sector has emerged as a major provider of jobs in the country. In the case of the Nottinghamshire FRS, the situation presents a challenge in terms of providing quality service to citizens, planning for future expenses more carefully and creating more jobs within the existing financial constraints (Wilkinson, 2010). Another issue that faces the region is the rapidly aging population, which is expected to double by 2025 (Hessami, 2009). These demographic trends have prompted a long-term challenge to the Nottinghamshire FRS when planning future services. The FRS notes that elderly people are prone to depend more on rescue services then other age classes. Besides, the pressure from a larger elderly population, enhanced by age-related health problems and pensioner poverty, is only likely to increase their dependence on the FRS. The department has been working towards improving its response times in such cases and is contemplating several educational programs to instruct elderly people on the danger of dwelling fires, which have been noted as primary causes of mishaps among people aged above 80 (National UK Fire Statistics, 2009). This paper provides a discussion of the agency’s quality assessment performance before and after the abolition of the Comprehensive area assessments (CAA) introduced in 2009. Methodology The

Home School Essay Example for Free

Home School Essay It has come to the attention of many that the debate over home schooling has been getting more brutal each and every day. Below is reassurance on why the board should offer this marvelous opportunity to these students. Every student is different, each has its own learning curves; some more then others. I am for home school because students can be overwhelmed by the large amount of work, students can get off task easily in traditional school, and if a student is home schooled, the student is the center of attention. When students go to traditional school, there are a lot of other students. Being with so many other students can be overwhelming for some, not all. For the students that it is too overwhelming for, why shouldn’t those students get an equal opportunity to do there best in school? If it is school were talking, then throw in the conversation of life as well. Without good schooling, students will be unable to get into a good college, without college, well it is kind of sad for the rest of their lives. As the Board of Education you want students to succeed in school, and in life, well then tell people to stop trying to slow down there education and the process in which students and parents educate. A positive in being home schooled is not getting off task. If the students do not have a large amount of distraction, then the want for distraction will be eliminated. Students get off task very easily (Trust me). An example of an off task student is a student talking to another student, thus far not hearing the teachers instructions. By keeping them on task then that is a great way to destroy a learning curve or learning curves. Another positive in home school is, the student is the center of attention! In any traditional school, there is a lot of students that do not understand or get the concept of a focus of study. Teachers have many students and may not always be available to make the focus of study more clear to the student. Home school guarantees the idea of a student never being left behind. What is the point of putting a student through school and the student only grasps bits and pieces, when the student could understand it all and probably even learn more then the average student in traditional school. To conclude this essay, please remember that home schooling is a great opportunity. Students are different and need special attention. I am for home school because students can be overwhelmed by the large amount of work, students can get off task easily in traditional school, and if a student is home schooled, the student is the center of attention. If the student can afford and have the means to do so, let home schooling happen!

Analysis of Tescos Corporate Governance and Responsibility

Analysis of Tescos Corporate Governance and Responsibility 1.0 INRODUCTION 1.1 Overview of the project Corporate governance and Corporate Responsibility have gained an increasing amount of importance over the last decade due to some of the worlds greatest corporate scandals that have been taking place. These scandals have not been happening to the under developed or developing economies, which have a high rate of corruption, but instead have been taking place in the developed countries, which supposedly have had various safeguards to protect the interests of all the stakeholders. Following the collapse of major multi-nationals such as the Maxwell Empire in the UK, Enron in the United States and Parmalat in Italy to name just a few, findings of fraud, dishonesty, irregular accounting and too much power held by one individual soon came to light. As a result, people and investors have lost the trust they placed in the financial markets and the big corporations to safeguard their assets and interests. The loss in confidence has seen big drops in the stock markets around the world and should the trend continues, the whole world economy would collapse which would lead to devastating consequences. As a result of those alarming situations, governments around the globe have devised frameworks of good corporate governance and passed on various laws, rules and regulations to hold companies responsible for their own actions, known as Corporate Governance and Responsibility in order to ensure that such scandals are not repeated in the future. The main corporate governance frameworks include the Organisation for Economic Co-operation and Developments (OECD) principles, the UK revised Combined Code (2003) and the Sarbanes-Oxley Act in the United States. Some of these are legally binding, such as the one in the United States while others operate on a comply or explain basis. This project will place more emphasis on the governance framework in the UK, namely the revised Combined Code, though I will make brief analyses of other reports and frameworks. Why I chose this particular topic area is for many reasons. Firstly, I believe that there is still scope to improve corporate governance worldwide and hence, wished to learn more about it. Secondly, despite the fact that corporate governance and corporate responsibility have become increasingly important in todays world and that companies have to adhere to the rules or principles, reports of fraud and bad management are still emerging in the developed economies, which lead to the collapse or nationalisation of various organisations. Well known examples in the UK include the nationalisation of Northern Rock bank and the government pumping in money into its various other banks, including Lloyds and Royal Bank of Scotland among others. It therefore begs the question about the credibility of the corporate governa nce framework. In addition, as a business student, it is now imperative to have a good understanding of the subject and as a taxpayer and citizen, I am both directly and indirectly affected by corporate behaviour. 1.2 The Organisation in question This thesis revolves around Tesco plc, one of the worlds leading retailers. Opened in 1919 by founder Jack Cohen, his first days sales were  £4 with a profit of  £1. By 1947, the company floated on the stock exchange with a share price of 25p and by 1979, its annual sales has reached  £1 billion. In 1983, Tesco Stores (Holdings) Ltd becomes Tesco PLC. Nowadays, the company has entered various other markets including the USA, China, Korea and many other European countries. It has also diversified into other industries, including financial services and is currently making profits in excess of  £2 billion. It is the UKs biggest supermarket in terms of turnover with 2,115 UK stores and employing 280, 373 staff in the UK alone (Tesco annual report 2008) .Such an organisation has been chosen for various reasons, namely because: It is a listed company, and hence according to the London Stock Exchange rules, it needs to adhere to the principles of the UK Combined Code on Corporate Governance on a Comply or Explain basis. Therefore, I will be able to determine whether such a big company is really being a good corporate citizen. Most of the data that I will need to conduct my research is readily accessible through its website, including its financial statements and annual reports. Data on similar organisations, such as Sainsburys plc is also readily accessible, which would prove to be very useful for comparison purposes. This would help me to make an analysis on how those two similar organisations are complying with the UK combined code on corporate Governance and whether the departure from for example a specific code is usual for these companies or ot. Tesco plc has a very large number of stakeholders and hence it is interesting to find out how the company is working towards fulfilling its responsibility towards them. In other words, how it is being corporately responsible, especially how it is dealing with the principal-agent problem. In addition, according to the companys annual report, Tesco follows a diversification strategy, laid down over 10 years ago and which has been the foundation of its enormous success in recent years. Due to the companys size, Tesco has segmented itself into 5 main areas: CORE UK COMMUNITY NON FOOD RETAILING SERVICES INTERNATIONAL The UK is its biggest market and the core of the business. The main aim here is to provide its customers with excellent value and choice. As well as deriving high shareholder value, the company also tries to be a corporate citizen. In addition to its annual report, the company also publishes a Corporate Responsibility report to show that it is a responsible business. Over the past decade, the company diversified into the non-food market whereby it offers a range of products, from laptops to mobile phones, etcThe aim here is to be as strong in food as in non-food, competing on price and value. Following its success into the non-food market, the company went into retailing services, offering financial services to its customers. Again here, this sector has proven to be profitable for the company. Nowadays, Tesco is not only operating in the UK but also in most European countries as well as in the US and Asia. The company has been expanding very quickly and is the number 1 retailer in Thailand today! As can be seen, Tesco has followed through a diversification strategy throughout the last decade, expanding not only into other markets but into other industries as well. Considering that diversification is quite a risky strategy, the company has been performing exceptionally well, defying the current credit crunch to record profits of over 2 billion pounds! Such a big and successful company provides us with ample opportunities to assess whether there are any irregularities in its reports, ie, whether there is good governance or not! 1.3 Research Questions The dissertation is mainly an analytical one, in that an analysis on the companys corporate governance and its corporate responsibility report will be performed. The main objective is to determine whether the company is behaving responsibly, by complying with all the provisions of the code and how is it discharging its duties towards its stakeholders. The main questions that will therefore be investigated are the following: Has Tesco complied in all respect with the principles of Corporate Governance and if not, why has it departed from a particular provision? Is there a link between its Corporate Governance and Corporate Social Responsibility and its financial position? Is the company projecting an image of a good corporate citizen? The above will form the main research questions though I will also be looking at various other aspects briefly such as: Variety of directors at the organisation. The difficulty in finding the right people with the right skills for the company. The role of Tescos audit committee, including independence issues. Public relations regarding the effect on the company if seems to flout regulations. The companys budget towards fulfilling its corporate responsibility How the company is working towards being eco-friendly Whether the company provides proper adequate training, pension provisions, etc 1.4 Overall Research Approach The starting point for the thesis indulges firstly into a broad explanation of both corporate governance and corporate responsibility. We will look at various definitions from a few sources in order to provide the reader with an understanding of the subject. Good corporate governance is incorporated into many reports. The main ones that will be the focus of the dissertation are notably the Cadbury report, Hambel report, Greenbury report, Higgs report, Smith report and the Turnbull Committee. The main points of the UK Combined Code (revised July 2003) will be discussed in a bit more detail, since it will form the basis of our first topic of interest of the project. In addition, the London Stock Exchange now requires all its listed companies to comply with the above code, which includes Tesco. As such, the first project objective will be achieved, whereby we can make an analysis whether Tesco has complied fully with the code or not. Whether there is a link between Tescos governance system and its financial performance will be the second part of the project. An analysis of the companys financial statements will be performed to assess its financial performance using various accounting techniques, such as ratio analysis, industry, competitor and international comparisons. Other items, such as share price movements, off balance sheet finance, creative accounting and conflicts of interests between management and shareholders will also be looked at to ensure that the figures provided in the financial statements are not misleading, especially to both current and potential investors. The impact of Tescos corporate governance system on its various stakeholders will form the next point. The main stakeholders that will be investigated here will be: Shareholders Employees Suppliers Customers Loan provider Government Public Each of the above points will be explored in details and an assessment on stakeholders conflicts of interests will be discussed briefly if there are any. Next on the agenda will be the topic of Corporate Responsibility. I will be making an analysis to determine how well Tesco is taking the responsibility to consider the interests of customers, employees, shareholders, society and the environment in its operational activities. Lastly, the thesis will focus on any criticisms and possible recommendations on the organisations corporate governance system and on its corporate social responsibility. 2.0 Information gathering Gathering information and data effectively is key to achieving a good project. A great deal of research is needed and very often there might be data overload. When too much data is collected, it sometimes becomes very difficult to analyse and interpret them properly which may be problematic in doing well in the thesis. On the other hand, not collecting enough data may lead to the wrong conclusion, thus rendering the thesis useless or even misleading. Therefore, it is of utmost importance that one must collect information properly and effectively in order to avoid wasting time and sometimes even money. We should always bear in mind that the data that needs to be collected should be sufficient so as to achieve the research objectives. 2.1 Sources of information There are two types of data, mainly primary and secondary data. Primary data is data that is unique to the researcher, and that is unavailable anywhere else. There are different methods of collecting such types of data. The main ones though are: Survey Questionnaires Observation and Interviews Primary data is often very valuable since it is unavailable anywhere else. However, collecting it is very time consuming and costly. In addition to that, one must always ensure that a proper margin of error is selected and that a good sample size is chosen. Otherwise, all the benefits of primary data will be lost. As can be seen, though valuable, it is often very time consuming and costly. Secondary data, as the name suggests, is data that is not unique. It is data that already exists somewhere else. Secondary data is data that has already been collected and collated by somebody for some reason other than the current study. It can be used to get a new perspective on the current study, to supplement or compare the work or to use parts of it, as another study may prove costly and time consuming e.g. the census. Secondary data can further be divided into two parts, namely qualitative and quantitative. Qualitative data includes biographies, personal letters, diaries, records, documents, published material, computer database, policy statements, etc. Quantitative data would have market research, census, and Economic documents, planning documents or specimens. The list is endless and once the type of secondary data is identified, it becomes easy to locate the source. The following is a list of where data has been collected and scrutinised for the purpose of the thesis: 2.1.1 Textbooks Textbooks have always been a major source of information. In fact, due to the increased importance of corporate governance, corporate responsibility and responsibility accounting, many textbooks have attempted to explain the concept of those topics and their relevance of in todays financial world. In todays accounting profession, it is now recommended that all accountants be familiar with corporate governance and especially ethics. This is mainly due to those scandals such as Enron which shook the whole financial world. It has been one of the most talked topics in the recent decade regarding the top CFOs and CEOs integrity! I found the texts regarding corporate governance and corporate responsibility to be well documented, which has been quite useful in analysing the topics in question. I made use of several textbooks, including many accounting ones. The main one I have used for my research is the BPP textbook for the Association of Certified Chartered Accountants P1, Professional Accountant. The textbook has provided me with a great insight about ethics and corporate governance and has helped a lot in preparing for this analysis. In addition, I also found the Heriot-Watt University MBA textbook regarding corporate governance to be extremely useful. This has helped me to understand from scratch why corporate governance is so important! The MBA textbook goes into much more details on the subject which really broadened my knowledge and provided me an insight from the barriers to improvement on governance systems to the various policy responses. The benefits of using textbooks are that they contained a great deal of literature on the issue of corporate governance, which not only helped me in achieving some of my aims for my project but also opened my eyes on the effects it has on each and every one of us. Unfortunately, textbooks have some drawbacks as well. Firstly, one needs to get the right texts for a particular research topic, which can take a lot of time. Next, there is a lot of reading to do, and if time is a constraint, this can pose a serious problem. In addition, although one may get the right books, one also has to make sure that they are the latest editions, since they tend to contain updated data and information. 2.1.2 Professional magazines Professional magazines are another great source of information. As a regular subscriber to the economist, needless to say that they have been of tremendous help to my thesis. From an economic point of view, I understood how corporate governance impacts on everyones life, no matter where you are or whichever country you are working in. The Enron scandal for example did not only affect its employees and the United States citizens but everyone else in the world. Now one may asks oneself how do i get affected if i live in Nepal for example. The answer to that I understood it by reading the economist! When Enron collapsed, first of all, the employees and shareholders and whoever were directly connected were the first to suffer. But Enron was a major global player in the financial markets, which sent shockwaves across the whole world, meaning we were all impacted by their actions! It is therefore no wonder that legislations such as the Sarbanes-Oxley were quickly brought into force in the United States. A lot of other countries also brought in their own codes of best practice on corporate governance and responsibility accounting. All this knowledge, I gained from those professional magazines, which are a great way of keeping up to date. Other magazines that have been useful in my research include the various accountancy magazines, such as Student Accountant which i receive regularly, since I am also an accountancy student from the association of chartered certified accountants. 2.1.3 Library I visited various libraries in order to be able to collect as much information as possible for my research. There is a local library where I live and this helped a lot. I needed to find journal articles and specific books for corporate governance and corporate responsibility. However, the problem I encountered at the library is that there were far too many books for me to choose from and that was very time consuming. I had no other option but to seek help from the librarians, who were most eager to help. I spent a really long-time reading and summarising all the information that I believe would be useful to me. A big drawback was that there were a lot of outdated information which was very frustrating. However libraries are a great source to get information from and they have been most useful to me. 2.1.4 The internet The internet nowadays is one of the most indispensable tools for information gathering. It is an integral part on everyones life and without it, mankind would be kind of lost! The big advantage of using the internet is the speed at which a large amount of data can be accessed. For that reason, it had been one of my principal sources of information. The information is mostly free and it is easily accessible. Though some websites require a payment to get the information provided, most were free of charge. Most of the information regarding this thesis has been accessed from the internet. As with every good thing, the internet has its drawbacks as well. First, one needs to make sure that by accessing information for our own use, we should make sure that we are not infringing anyones copyright. We also have to be very careful due to the spread of viruses which can damage ones computer and stealing our private information. In any case, the internet remains one of the most powerful tool to gather information. 2.1.5 Tesco plc annual report (2008) The companys annual reports were easily accessible from the website and provided me with a wealth of information in regards to corporate governance and corporate responsibility. I managed to even get a 5 year summary of the companys financial statements which has helped me to draw out a lot of conclusions regarding performance. However, as one would expect, the report portrayed Tesco as a good citizen which does everything ethically. I could not therefore rely a hundred percent on everything the report said about. 3.0 Ethical Issues As in any thesis, ethics play a very important role. Therefore, one needs to make sure to being completely ethical whenever gathering information and using them for ones purpose. 3.1.1 Information gathering Bias and Balance: Recognizing biased information, looking for balanced views, exploring opposing views, recognizing commercial interests in published information. Fact or Opinion: Recognizing factual information, looking for evidence of factual truth, recognizing and valuing opinion. Knowledge Gaps: Identifying missing information, locating missing information, stating research methodologies so that others can search further. 3.1.2 Information Evaluation Accuracy: Is the information accurate when checked against other sources? How reliable and error-free is the information? Authority: Does the information source qualify as an expert? Is the source rightly expected to know the facts and specifics? Are the qualifications of the author/speaker clearly stated? Is the author/speaker affiliated with an institution or organization? Is there contact information available for the author of a written document? Content: What is the purpose of the information, i.e. to inform, convince, or sell? What does it contribute to your understanding of the issues? Who is the intended audience based on content, tone, and style? What is the overall value of the content compared to other resources on the topic? Coverage: Does the information cover the subject adequately? Are there inexplicable omissions? Currency: Is the publication date clearly stated? When was the information last revised? Is it maintained and updated regularly? Are the links on a web page up-to-date and useable? Documentation: Are you certain the information is based on more than hearsay? Does the author explain where the information was obtained? Does the web page or article contain a bibliography or list of sources used? 3.1.3 Information Use Fair Use of Information: Copyright law allows limited copying for educational and archival purposes, but does limit even that to no more than 10% of a work, among other restrictions. Proper Citation: Complete citations of sources used is the most important issue, attributing information to its true author, and including enough information for another to locate the source. The ethical issues above (3.1.1 3.1.3) were compiled by H. Heller-Ross, Plattsburgh State University. They have been included in this thesis to help readers take a grasp on the various ethical issues which may impact upon ones research. 4.0 Results and Analysis Corporate Governance 4.1 Corporate Governance Corporate governance is the system by which organisations are directed and controlled. (Cadbury A. 1992) Corporate governance is a set of relationships between a companys directors, its shareholders and other stakeholders. It also provides the structure through which the objectives of the company are set, and the means of achieving those objectives and monitoring performance are determined. (Johnston D. J OECD Secretary General) Corporate governance, the system by which organisations are directed and controlled, is based on a number of concepts including transparency, independence, accountability and integrity. (BPP, P1 2007) Corporate governance is the system by which companies are directed and controlled. It deals largely with the relationship between the constituent parts of a company the directors, the board (and its sub-committees) and the shareholders. Transparency and accountability are the most important elements of good corporate governance. This includes: the timely provision by companies of good quality information; a clear and credible company decision-making process; Shareholders giving proper consideration to the information provided and making considered judgements. The corporate governance framework in the UK operates at a number of levels: through legislation particularly the Companies Act; Through regulation and in particular for listed companies through the listing rules, which are the responsibilities of theFinancial Services Authority. Through the Combined Code which is the responsibility of the Financial Reporting Council. It contains general principles and more detailed provisions relating to the corporate governance of listed companies. It is appended to the FSAs Listing Rules, which require these companies, in their annual report and accounts to, (i) report on how they apply the principles, and (ii) confirm that they comply with the Codes provisions or, where they do not, provide an explanation: hence the comply or explain principle which, if applied effectively, underpins informed dialogue between directors and shareholders. contains general principles. (http://www.berr.gov.uk/whatwedo/businesslaw/corp-governance/page15267.html) What the above definitions are about is that organisations should be managed in the best interest of everyone connected. In other words, directors should not forget that they are the agents of the companies they manage and they have a responsibility towards the various stakeholders. Therefore, they should act with integrity and honesty and should not just be concerned with filling their own pockets. The principal agent problem consists of trust and risk. (Lee, A.T. 2006). This trust may be breached by the agents by pursuing their own interest or through negligence and fraud. History is witness to this abuse, which has resulted in shareholders losing their investments and employees losing their jobs with no fault of theirs. As a consequence, stakeholders now want reassurance that such scandals are not repeated, resulting in corporate governance frameworks around the world. The success of a company based on the principal-agent relationship is dependent on the effectiveness of its corporate governance particularly the competence and independence of its board of directors and various subcommittees. (Lee, A.T. 2006) 4.2 Various Corporate Governance Reports The various scandals around the financial world prompted governments to review corporate governance, especially about those companies that are listed in the stock markets. This lead to a wide range of corporate governance reports being written by scholars around the world. The main ones in the UK are listed below, with a brief explanation about it. 4.2.1 The Cadbury report The Cadbury Report, titled Financial Aspects of Corporate Governance, is a report of a committee chaired by Adrian Cadbury that sets out recommendations on the arrangement of company boards and accounting systems to mitigate corporate governance risks and failures. The report was published in 1992. The reports recommendations have been adopted in varying degree by the European Union, the United States, the World Bank, and others. 4.2.2 The Greenbury Report The Greenbury report was issued in 1995 by a committee under the chairmanship of Sir Richard Greenbury that developed a number of recommendations of the Cadbury Report on directors remuneration. It stressed the importance of a remuneration committee of non executive directors , the provision of information on remuneration policy in the annual report and accounts, and the restriction of notice and contract periods to less than one year. 4.2.3 The Hambel Report This was a committee set up under the chairmanship of Sir Ronald Hampel to review the implementation of the Cadbury Code and the recommendations of the Greenbury report. A report was issued in 1998 emphasizing that the primary duty of directors is to shareholders and that the recommendations of the two earlier reports should be treated as guidelines rather than prescriptive rules. 4.2.4 The Turnbull Report The latest link in the UK corporate governance chain is the September 1999 publication Internal Control: Guidance for Directors on the Combined Code otherwise called, after its chairman (Nigel Turnbull, Executive Director of Reed Plc), the Turnbull Report (Turnbull). Turnbulls guidance is based upon the adoption by a companys board of a risk-based approach to establishing a sound system of internal control, and on Accountability, transparency, corporate social responsibility: a new mantra for a new millennium. reviewing its effectiveness. This should be incorporated by a company within its normal management and governance processes. The span of internal control contemplated by Turnbull stretches wider than financial controls, to encompass social and environmental issues matters that have recently come to be grouped together under the generic heading of reputational risk. 4.2.5 The Higgs Report The Higgs Report, named after its author Derek Higgs focused on the role and effectiveness of the non-executive director so as to consolidate the UKs combined code on corporate governance. The report was published in January 2003 and it was expected that the revised combined code will come into effect in July 2003. 4.2.6 The Smith Report Following the major financial scandals around the world, the Financial Reporting Council invited Sir Robert Smith to chair a report on the role and responsibilities of the audit committees. The aim was to develop the existing Combined Code guidance and to clarify the duties of the non executive directors meant to form the audit committee. 4.2.7 UK Combined Code The Combined Code on Corporate Governance sets out standards of good practice in relation to issues such as board composition and development, remuneration, accountability and audit and relations with shareholders. All companies incorporated in the UK and listed on the Main Market of the London Stock Exchange are required under the Listing Rules to report on how they have applied the Combined Code in their annual report and accounts. Overseas companies listed on the Main Market are required to disclose the significant ways in which their corporate governance practices differ from those set out in the Code. The Combined Code contains broad principles and more specific provisions. Listed companies are required to report on how they have applied the main principles of the Code, and either to confirm that they have complied with the Codes provisions or where they have not to provide an explanation. (http://www.frc.org.uk/corporate/combinedcode.cfm) The combined code on corporate governance will be the benchmark against which an analysis of corporate governance at Tesco will be made. Any areas of the code which have not been followed or where the company has tried to manipulate it will be looked at in detail and conclusions drawn out. 5.0 Analysis of Tescos Governance system 5.1 Directors 5.1.1 The board As at 28 February 2009, the Board of Tesco PLC comprised eight Executive Directors, seven independent Non-executive Directors and David Reid, Non-executive Chairman. The Companys Articles of Association require all new Directors to be submitted for election by shareholders in their first year following appointment. The Board has appointed one Non-executive Director, Rodney Chase, to act as Senior Independent Director. The Senior Independent Director is available to shareholders to assist in resolving concerns, should the alternative channels be inappropriate. The Senior Independent Director is also required to lead the discussion in relation to assessing the effectiveness of the Chairmans performance. The Non-executive Directors bring a wide range of skills and experience, as well as independent judgement on strategy, risk and performance to the Compa Analysis of Tescos Corporate Governance and Responsibility Analysis of Tescos Corporate Governance and Responsibility 1.0 INRODUCTION 1.1 Overview of the project Corporate governance and Corporate Responsibility have gained an increasing amount of importance over the last decade due to some of the worlds greatest corporate scandals that have been taking place. These scandals have not been happening to the under developed or developing economies, which have a high rate of corruption, but instead have been taking place in the developed countries, which supposedly have had various safeguards to protect the interests of all the stakeholders. Following the collapse of major multi-nationals such as the Maxwell Empire in the UK, Enron in the United States and Parmalat in Italy to name just a few, findings of fraud, dishonesty, irregular accounting and too much power held by one individual soon came to light. As a result, people and investors have lost the trust they placed in the financial markets and the big corporations to safeguard their assets and interests. The loss in confidence has seen big drops in the stock markets around the world and should the trend continues, the whole world economy would collapse which would lead to devastating consequences. As a result of those alarming situations, governments around the globe have devised frameworks of good corporate governance and passed on various laws, rules and regulations to hold companies responsible for their own actions, known as Corporate Governance and Responsibility in order to ensure that such scandals are not repeated in the future. The main corporate governance frameworks include the Organisation for Economic Co-operation and Developments (OECD) principles, the UK revised Combined Code (2003) and the Sarbanes-Oxley Act in the United States. Some of these are legally binding, such as the one in the United States while others operate on a comply or explain basis. This project will place more emphasis on the governance framework in the UK, namely the revised Combined Code, though I will make brief analyses of other reports and frameworks. Why I chose this particular topic area is for many reasons. Firstly, I believe that there is still scope to improve corporate governance worldwide and hence, wished to learn more about it. Secondly, despite the fact that corporate governance and corporate responsibility have become increasingly important in todays world and that companies have to adhere to the rules or principles, reports of fraud and bad management are still emerging in the developed economies, which lead to the collapse or nationalisation of various organisations. Well known examples in the UK include the nationalisation of Northern Rock bank and the government pumping in money into its various other banks, including Lloyds and Royal Bank of Scotland among others. It therefore begs the question about the credibility of the corporate governa nce framework. In addition, as a business student, it is now imperative to have a good understanding of the subject and as a taxpayer and citizen, I am both directly and indirectly affected by corporate behaviour. 1.2 The Organisation in question This thesis revolves around Tesco plc, one of the worlds leading retailers. Opened in 1919 by founder Jack Cohen, his first days sales were  £4 with a profit of  £1. By 1947, the company floated on the stock exchange with a share price of 25p and by 1979, its annual sales has reached  £1 billion. In 1983, Tesco Stores (Holdings) Ltd becomes Tesco PLC. Nowadays, the company has entered various other markets including the USA, China, Korea and many other European countries. It has also diversified into other industries, including financial services and is currently making profits in excess of  £2 billion. It is the UKs biggest supermarket in terms of turnover with 2,115 UK stores and employing 280, 373 staff in the UK alone (Tesco annual report 2008) .Such an organisation has been chosen for various reasons, namely because: It is a listed company, and hence according to the London Stock Exchange rules, it needs to adhere to the principles of the UK Combined Code on Corporate Governance on a Comply or Explain basis. Therefore, I will be able to determine whether such a big company is really being a good corporate citizen. Most of the data that I will need to conduct my research is readily accessible through its website, including its financial statements and annual reports. Data on similar organisations, such as Sainsburys plc is also readily accessible, which would prove to be very useful for comparison purposes. This would help me to make an analysis on how those two similar organisations are complying with the UK combined code on corporate Governance and whether the departure from for example a specific code is usual for these companies or ot. Tesco plc has a very large number of stakeholders and hence it is interesting to find out how the company is working towards fulfilling its responsibility towards them. In other words, how it is being corporately responsible, especially how it is dealing with the principal-agent problem. In addition, according to the companys annual report, Tesco follows a diversification strategy, laid down over 10 years ago and which has been the foundation of its enormous success in recent years. Due to the companys size, Tesco has segmented itself into 5 main areas: CORE UK COMMUNITY NON FOOD RETAILING SERVICES INTERNATIONAL The UK is its biggest market and the core of the business. The main aim here is to provide its customers with excellent value and choice. As well as deriving high shareholder value, the company also tries to be a corporate citizen. In addition to its annual report, the company also publishes a Corporate Responsibility report to show that it is a responsible business. Over the past decade, the company diversified into the non-food market whereby it offers a range of products, from laptops to mobile phones, etcThe aim here is to be as strong in food as in non-food, competing on price and value. Following its success into the non-food market, the company went into retailing services, offering financial services to its customers. Again here, this sector has proven to be profitable for the company. Nowadays, Tesco is not only operating in the UK but also in most European countries as well as in the US and Asia. The company has been expanding very quickly and is the number 1 retailer in Thailand today! As can be seen, Tesco has followed through a diversification strategy throughout the last decade, expanding not only into other markets but into other industries as well. Considering that diversification is quite a risky strategy, the company has been performing exceptionally well, defying the current credit crunch to record profits of over 2 billion pounds! Such a big and successful company provides us with ample opportunities to assess whether there are any irregularities in its reports, ie, whether there is good governance or not! 1.3 Research Questions The dissertation is mainly an analytical one, in that an analysis on the companys corporate governance and its corporate responsibility report will be performed. The main objective is to determine whether the company is behaving responsibly, by complying with all the provisions of the code and how is it discharging its duties towards its stakeholders. The main questions that will therefore be investigated are the following: Has Tesco complied in all respect with the principles of Corporate Governance and if not, why has it departed from a particular provision? Is there a link between its Corporate Governance and Corporate Social Responsibility and its financial position? Is the company projecting an image of a good corporate citizen? The above will form the main research questions though I will also be looking at various other aspects briefly such as: Variety of directors at the organisation. The difficulty in finding the right people with the right skills for the company. The role of Tescos audit committee, including independence issues. Public relations regarding the effect on the company if seems to flout regulations. The companys budget towards fulfilling its corporate responsibility How the company is working towards being eco-friendly Whether the company provides proper adequate training, pension provisions, etc 1.4 Overall Research Approach The starting point for the thesis indulges firstly into a broad explanation of both corporate governance and corporate responsibility. We will look at various definitions from a few sources in order to provide the reader with an understanding of the subject. Good corporate governance is incorporated into many reports. The main ones that will be the focus of the dissertation are notably the Cadbury report, Hambel report, Greenbury report, Higgs report, Smith report and the Turnbull Committee. The main points of the UK Combined Code (revised July 2003) will be discussed in a bit more detail, since it will form the basis of our first topic of interest of the project. In addition, the London Stock Exchange now requires all its listed companies to comply with the above code, which includes Tesco. As such, the first project objective will be achieved, whereby we can make an analysis whether Tesco has complied fully with the code or not. Whether there is a link between Tescos governance system and its financial performance will be the second part of the project. An analysis of the companys financial statements will be performed to assess its financial performance using various accounting techniques, such as ratio analysis, industry, competitor and international comparisons. Other items, such as share price movements, off balance sheet finance, creative accounting and conflicts of interests between management and shareholders will also be looked at to ensure that the figures provided in the financial statements are not misleading, especially to both current and potential investors. The impact of Tescos corporate governance system on its various stakeholders will form the next point. The main stakeholders that will be investigated here will be: Shareholders Employees Suppliers Customers Loan provider Government Public Each of the above points will be explored in details and an assessment on stakeholders conflicts of interests will be discussed briefly if there are any. Next on the agenda will be the topic of Corporate Responsibility. I will be making an analysis to determine how well Tesco is taking the responsibility to consider the interests of customers, employees, shareholders, society and the environment in its operational activities. Lastly, the thesis will focus on any criticisms and possible recommendations on the organisations corporate governance system and on its corporate social responsibility. 2.0 Information gathering Gathering information and data effectively is key to achieving a good project. A great deal of research is needed and very often there might be data overload. When too much data is collected, it sometimes becomes very difficult to analyse and interpret them properly which may be problematic in doing well in the thesis. On the other hand, not collecting enough data may lead to the wrong conclusion, thus rendering the thesis useless or even misleading. Therefore, it is of utmost importance that one must collect information properly and effectively in order to avoid wasting time and sometimes even money. We should always bear in mind that the data that needs to be collected should be sufficient so as to achieve the research objectives. 2.1 Sources of information There are two types of data, mainly primary and secondary data. Primary data is data that is unique to the researcher, and that is unavailable anywhere else. There are different methods of collecting such types of data. The main ones though are: Survey Questionnaires Observation and Interviews Primary data is often very valuable since it is unavailable anywhere else. However, collecting it is very time consuming and costly. In addition to that, one must always ensure that a proper margin of error is selected and that a good sample size is chosen. Otherwise, all the benefits of primary data will be lost. As can be seen, though valuable, it is often very time consuming and costly. Secondary data, as the name suggests, is data that is not unique. It is data that already exists somewhere else. Secondary data is data that has already been collected and collated by somebody for some reason other than the current study. It can be used to get a new perspective on the current study, to supplement or compare the work or to use parts of it, as another study may prove costly and time consuming e.g. the census. Secondary data can further be divided into two parts, namely qualitative and quantitative. Qualitative data includes biographies, personal letters, diaries, records, documents, published material, computer database, policy statements, etc. Quantitative data would have market research, census, and Economic documents, planning documents or specimens. The list is endless and once the type of secondary data is identified, it becomes easy to locate the source. The following is a list of where data has been collected and scrutinised for the purpose of the thesis: 2.1.1 Textbooks Textbooks have always been a major source of information. In fact, due to the increased importance of corporate governance, corporate responsibility and responsibility accounting, many textbooks have attempted to explain the concept of those topics and their relevance of in todays financial world. In todays accounting profession, it is now recommended that all accountants be familiar with corporate governance and especially ethics. This is mainly due to those scandals such as Enron which shook the whole financial world. It has been one of the most talked topics in the recent decade regarding the top CFOs and CEOs integrity! I found the texts regarding corporate governance and corporate responsibility to be well documented, which has been quite useful in analysing the topics in question. I made use of several textbooks, including many accounting ones. The main one I have used for my research is the BPP textbook for the Association of Certified Chartered Accountants P1, Professional Accountant. The textbook has provided me with a great insight about ethics and corporate governance and has helped a lot in preparing for this analysis. In addition, I also found the Heriot-Watt University MBA textbook regarding corporate governance to be extremely useful. This has helped me to understand from scratch why corporate governance is so important! The MBA textbook goes into much more details on the subject which really broadened my knowledge and provided me an insight from the barriers to improvement on governance systems to the various policy responses. The benefits of using textbooks are that they contained a great deal of literature on the issue of corporate governance, which not only helped me in achieving some of my aims for my project but also opened my eyes on the effects it has on each and every one of us. Unfortunately, textbooks have some drawbacks as well. Firstly, one needs to get the right texts for a particular research topic, which can take a lot of time. Next, there is a lot of reading to do, and if time is a constraint, this can pose a serious problem. In addition, although one may get the right books, one also has to make sure that they are the latest editions, since they tend to contain updated data and information. 2.1.2 Professional magazines Professional magazines are another great source of information. As a regular subscriber to the economist, needless to say that they have been of tremendous help to my thesis. From an economic point of view, I understood how corporate governance impacts on everyones life, no matter where you are or whichever country you are working in. The Enron scandal for example did not only affect its employees and the United States citizens but everyone else in the world. Now one may asks oneself how do i get affected if i live in Nepal for example. The answer to that I understood it by reading the economist! When Enron collapsed, first of all, the employees and shareholders and whoever were directly connected were the first to suffer. But Enron was a major global player in the financial markets, which sent shockwaves across the whole world, meaning we were all impacted by their actions! It is therefore no wonder that legislations such as the Sarbanes-Oxley were quickly brought into force in the United States. A lot of other countries also brought in their own codes of best practice on corporate governance and responsibility accounting. All this knowledge, I gained from those professional magazines, which are a great way of keeping up to date. Other magazines that have been useful in my research include the various accountancy magazines, such as Student Accountant which i receive regularly, since I am also an accountancy student from the association of chartered certified accountants. 2.1.3 Library I visited various libraries in order to be able to collect as much information as possible for my research. There is a local library where I live and this helped a lot. I needed to find journal articles and specific books for corporate governance and corporate responsibility. However, the problem I encountered at the library is that there were far too many books for me to choose from and that was very time consuming. I had no other option but to seek help from the librarians, who were most eager to help. I spent a really long-time reading and summarising all the information that I believe would be useful to me. A big drawback was that there were a lot of outdated information which was very frustrating. However libraries are a great source to get information from and they have been most useful to me. 2.1.4 The internet The internet nowadays is one of the most indispensable tools for information gathering. It is an integral part on everyones life and without it, mankind would be kind of lost! The big advantage of using the internet is the speed at which a large amount of data can be accessed. For that reason, it had been one of my principal sources of information. The information is mostly free and it is easily accessible. Though some websites require a payment to get the information provided, most were free of charge. Most of the information regarding this thesis has been accessed from the internet. As with every good thing, the internet has its drawbacks as well. First, one needs to make sure that by accessing information for our own use, we should make sure that we are not infringing anyones copyright. We also have to be very careful due to the spread of viruses which can damage ones computer and stealing our private information. In any case, the internet remains one of the most powerful tool to gather information. 2.1.5 Tesco plc annual report (2008) The companys annual reports were easily accessible from the website and provided me with a wealth of information in regards to corporate governance and corporate responsibility. I managed to even get a 5 year summary of the companys financial statements which has helped me to draw out a lot of conclusions regarding performance. However, as one would expect, the report portrayed Tesco as a good citizen which does everything ethically. I could not therefore rely a hundred percent on everything the report said about. 3.0 Ethical Issues As in any thesis, ethics play a very important role. Therefore, one needs to make sure to being completely ethical whenever gathering information and using them for ones purpose. 3.1.1 Information gathering Bias and Balance: Recognizing biased information, looking for balanced views, exploring opposing views, recognizing commercial interests in published information. Fact or Opinion: Recognizing factual information, looking for evidence of factual truth, recognizing and valuing opinion. Knowledge Gaps: Identifying missing information, locating missing information, stating research methodologies so that others can search further. 3.1.2 Information Evaluation Accuracy: Is the information accurate when checked against other sources? How reliable and error-free is the information? Authority: Does the information source qualify as an expert? Is the source rightly expected to know the facts and specifics? Are the qualifications of the author/speaker clearly stated? Is the author/speaker affiliated with an institution or organization? Is there contact information available for the author of a written document? Content: What is the purpose of the information, i.e. to inform, convince, or sell? What does it contribute to your understanding of the issues? Who is the intended audience based on content, tone, and style? What is the overall value of the content compared to other resources on the topic? Coverage: Does the information cover the subject adequately? Are there inexplicable omissions? Currency: Is the publication date clearly stated? When was the information last revised? Is it maintained and updated regularly? Are the links on a web page up-to-date and useable? Documentation: Are you certain the information is based on more than hearsay? Does the author explain where the information was obtained? Does the web page or article contain a bibliography or list of sources used? 3.1.3 Information Use Fair Use of Information: Copyright law allows limited copying for educational and archival purposes, but does limit even that to no more than 10% of a work, among other restrictions. Proper Citation: Complete citations of sources used is the most important issue, attributing information to its true author, and including enough information for another to locate the source. The ethical issues above (3.1.1 3.1.3) were compiled by H. Heller-Ross, Plattsburgh State University. They have been included in this thesis to help readers take a grasp on the various ethical issues which may impact upon ones research. 4.0 Results and Analysis Corporate Governance 4.1 Corporate Governance Corporate governance is the system by which organisations are directed and controlled. (Cadbury A. 1992) Corporate governance is a set of relationships between a companys directors, its shareholders and other stakeholders. It also provides the structure through which the objectives of the company are set, and the means of achieving those objectives and monitoring performance are determined. (Johnston D. J OECD Secretary General) Corporate governance, the system by which organisations are directed and controlled, is based on a number of concepts including transparency, independence, accountability and integrity. (BPP, P1 2007) Corporate governance is the system by which companies are directed and controlled. It deals largely with the relationship between the constituent parts of a company the directors, the board (and its sub-committees) and the shareholders. Transparency and accountability are the most important elements of good corporate governance. This includes: the timely provision by companies of good quality information; a clear and credible company decision-making process; Shareholders giving proper consideration to the information provided and making considered judgements. The corporate governance framework in the UK operates at a number of levels: through legislation particularly the Companies Act; Through regulation and in particular for listed companies through the listing rules, which are the responsibilities of theFinancial Services Authority. Through the Combined Code which is the responsibility of the Financial Reporting Council. It contains general principles and more detailed provisions relating to the corporate governance of listed companies. It is appended to the FSAs Listing Rules, which require these companies, in their annual report and accounts to, (i) report on how they apply the principles, and (ii) confirm that they comply with the Codes provisions or, where they do not, provide an explanation: hence the comply or explain principle which, if applied effectively, underpins informed dialogue between directors and shareholders. contains general principles. (http://www.berr.gov.uk/whatwedo/businesslaw/corp-governance/page15267.html) What the above definitions are about is that organisations should be managed in the best interest of everyone connected. In other words, directors should not forget that they are the agents of the companies they manage and they have a responsibility towards the various stakeholders. Therefore, they should act with integrity and honesty and should not just be concerned with filling their own pockets. The principal agent problem consists of trust and risk. (Lee, A.T. 2006). This trust may be breached by the agents by pursuing their own interest or through negligence and fraud. History is witness to this abuse, which has resulted in shareholders losing their investments and employees losing their jobs with no fault of theirs. As a consequence, stakeholders now want reassurance that such scandals are not repeated, resulting in corporate governance frameworks around the world. The success of a company based on the principal-agent relationship is dependent on the effectiveness of its corporate governance particularly the competence and independence of its board of directors and various subcommittees. (Lee, A.T. 2006) 4.2 Various Corporate Governance Reports The various scandals around the financial world prompted governments to review corporate governance, especially about those companies that are listed in the stock markets. This lead to a wide range of corporate governance reports being written by scholars around the world. The main ones in the UK are listed below, with a brief explanation about it. 4.2.1 The Cadbury report The Cadbury Report, titled Financial Aspects of Corporate Governance, is a report of a committee chaired by Adrian Cadbury that sets out recommendations on the arrangement of company boards and accounting systems to mitigate corporate governance risks and failures. The report was published in 1992. The reports recommendations have been adopted in varying degree by the European Union, the United States, the World Bank, and others. 4.2.2 The Greenbury Report The Greenbury report was issued in 1995 by a committee under the chairmanship of Sir Richard Greenbury that developed a number of recommendations of the Cadbury Report on directors remuneration. It stressed the importance of a remuneration committee of non executive directors , the provision of information on remuneration policy in the annual report and accounts, and the restriction of notice and contract periods to less than one year. 4.2.3 The Hambel Report This was a committee set up under the chairmanship of Sir Ronald Hampel to review the implementation of the Cadbury Code and the recommendations of the Greenbury report. A report was issued in 1998 emphasizing that the primary duty of directors is to shareholders and that the recommendations of the two earlier reports should be treated as guidelines rather than prescriptive rules. 4.2.4 The Turnbull Report The latest link in the UK corporate governance chain is the September 1999 publication Internal Control: Guidance for Directors on the Combined Code otherwise called, after its chairman (Nigel Turnbull, Executive Director of Reed Plc), the Turnbull Report (Turnbull). Turnbulls guidance is based upon the adoption by a companys board of a risk-based approach to establishing a sound system of internal control, and on Accountability, transparency, corporate social responsibility: a new mantra for a new millennium. reviewing its effectiveness. This should be incorporated by a company within its normal management and governance processes. The span of internal control contemplated by Turnbull stretches wider than financial controls, to encompass social and environmental issues matters that have recently come to be grouped together under the generic heading of reputational risk. 4.2.5 The Higgs Report The Higgs Report, named after its author Derek Higgs focused on the role and effectiveness of the non-executive director so as to consolidate the UKs combined code on corporate governance. The report was published in January 2003 and it was expected that the revised combined code will come into effect in July 2003. 4.2.6 The Smith Report Following the major financial scandals around the world, the Financial Reporting Council invited Sir Robert Smith to chair a report on the role and responsibilities of the audit committees. The aim was to develop the existing Combined Code guidance and to clarify the duties of the non executive directors meant to form the audit committee. 4.2.7 UK Combined Code The Combined Code on Corporate Governance sets out standards of good practice in relation to issues such as board composition and development, remuneration, accountability and audit and relations with shareholders. All companies incorporated in the UK and listed on the Main Market of the London Stock Exchange are required under the Listing Rules to report on how they have applied the Combined Code in their annual report and accounts. Overseas companies listed on the Main Market are required to disclose the significant ways in which their corporate governance practices differ from those set out in the Code. The Combined Code contains broad principles and more specific provisions. Listed companies are required to report on how they have applied the main principles of the Code, and either to confirm that they have complied with the Codes provisions or where they have not to provide an explanation. (http://www.frc.org.uk/corporate/combinedcode.cfm) The combined code on corporate governance will be the benchmark against which an analysis of corporate governance at Tesco will be made. Any areas of the code which have not been followed or where the company has tried to manipulate it will be looked at in detail and conclusions drawn out. 5.0 Analysis of Tescos Governance system 5.1 Directors 5.1.1 The board As at 28 February 2009, the Board of Tesco PLC comprised eight Executive Directors, seven independent Non-executive Directors and David Reid, Non-executive Chairman. The Companys Articles of Association require all new Directors to be submitted for election by shareholders in their first year following appointment. The Board has appointed one Non-executive Director, Rodney Chase, to act as Senior Independent Director. The Senior Independent Director is available to shareholders to assist in resolving concerns, should the alternative channels be inappropriate. The Senior Independent Director is also required to lead the discussion in relation to assessing the effectiveness of the Chairmans performance. The Non-executive Directors bring a wide range of skills and experience, as well as independent judgement on strategy, risk and performance to the Compa

Grammer :: essays papers

Grammer ADVERBS & HELPER VERBS ~the purpose is to show where, when, how, or to what degree ~adverbs are words ending in ly Adverbs not ending in ly: all, almost, also, always, away, ever, forward, later, maybe, most, never, nevertheless, now, not, often, only, onward, perhaps, sometime(s), soon, then, too, very, up helper verbs: be, am, is, are, was, were, have, has, had, have been, has been, had been, shall, will, do, did, may, can, must, might, could, would, should PREPOSITIONAL PHRASES some of the most common prepositions: about, above, according to, across, after, against, along, among, as, at, because of, before, behind, below, beneath, beside, between, beyond, but, by, down, during, except, for, from, in, into, like, near, of, off, on, on account of, outside, outside of, over, past, since, through, to, toward, under, until, up, upon, with, within, without, Examples: 1. (For many years) the lighthouse has been the most famous landmark (along the coast.) 2. It has warned (ships at sea)(of the countless dangers)( from the fog storm.) PRONOUNS subject: Object: I me he him

Airline Safety Essay -- Essays Papers

Airline Safety Systems, Parts and Maintenance In July of 1996, a Boeing 747 carrying the designator Flight 800 took off from Kennedy Airport in New York. On board were two hundred and thirty people who were entrusting their individual safety to an aircraft that had one of the best safety records in the airline industry. The Boeing 747 has been in service for many years, and has been utilized for many different things including the one designated Air Force One. Nine miles off the coast of Long Island the aircraft exploded, killing everybody on board (Adcock 08). The wreckage was strewn over a wide area of the Atlantic Ocean and proved to be very difficult to recover. It took several months to sift through the sand on the ocean floor and recover the parts from the aircraft. Speculation that the aircraft had somehow been the victim of a terrorist act was the topic of the day. There were theories that the aircraft had exploded as a result of a bomb placed aboard (Adcock 08). There were theories that it had been the victim of a gro und to air missile or an air-to-air missile. There were investigations to find out if the Navy had inadvertently shot the aircraft down. Accusations were flung in the most unlikely places. Security at the international airports was increased and bomb squads regularly checked each departing aircraft for any explosives. People were afraid to fly because they were afraid of terrorist attacks. The Federal Aviation Administration investigated all of these possibilities and one more. They investigated the possibility that a part on the aircraft had failed and caused the explosion. This wasn't a popular theory because of the Boeing 747's excellent safety record and the fact that aircraft in general weren't in the habit of exploding in mid-air. When all of the information was in and the final report issued, it was determined that the cause of the crash was probably a wire in the fuel indicator system that had grown old and frayed. There wasn't enough direct physical evidence to prove it beyond a shadow of a doubt, however subsequent investigations of aircraft that were as old as the 747 on Flight 800 - twenty five years - showed wiring cracks and fraying in a manner consistent with the theories advanced about the crash of Flight 800 (Adcock 08). The Federal Aviation Agency has since initiated an aging aircraft program with t... ...e need for adequate funding and personnel by the FAA. The FAA is obviously doing everything that it can under the circumstances, however the trend toward cost cutting and compromise of maintenance programs is continuing. It is showing no signs of lessening due to the fact that the airlines are continually being squeezed between needing to lower fares and pay higher maintenance costs. WORKS CITED Dickey, Christopher. "What Went Wrong." Newsweek International. August 2000 Fed: Undercarriage collapses on Qantas jet. AAP General News (Australia). April 22, 2000 "FENA for proper maintenance of DC-10s to keep these running, The Independent". September 2000 Hinson, David. "ValuJet Airlines crash." Jet lag.(Federal Aviation Commission ( The New Republic ). 12-16-1996 â€Å"Incorrectly Reports Inspection Cycle for Part Implicated in the Alaska Flight 261 Tragedy†. Business Wire. May 2000 "Oversight of Maintenance & Repair Facility Practices Under Examination". Air Safety Week. July 1999 PG Sullivan, John. "FAA delayed telling airlines about failed cables Agency defends move, saying part not crucial for flight control†. The Dallas Morning News. June 2000 Airline Safety Essay -- Essays Papers Airline Safety Systems, Parts and Maintenance In July of 1996, a Boeing 747 carrying the designator Flight 800 took off from Kennedy Airport in New York. On board were two hundred and thirty people who were entrusting their individual safety to an aircraft that had one of the best safety records in the airline industry. The Boeing 747 has been in service for many years, and has been utilized for many different things including the one designated Air Force One. Nine miles off the coast of Long Island the aircraft exploded, killing everybody on board (Adcock 08). The wreckage was strewn over a wide area of the Atlantic Ocean and proved to be very difficult to recover. It took several months to sift through the sand on the ocean floor and recover the parts from the aircraft. Speculation that the aircraft had somehow been the victim of a terrorist act was the topic of the day. There were theories that the aircraft had exploded as a result of a bomb placed aboard (Adcock 08). There were theories that it had been the victim of a gro und to air missile or an air-to-air missile. There were investigations to find out if the Navy had inadvertently shot the aircraft down. Accusations were flung in the most unlikely places. Security at the international airports was increased and bomb squads regularly checked each departing aircraft for any explosives. People were afraid to fly because they were afraid of terrorist attacks. The Federal Aviation Administration investigated all of these possibilities and one more. They investigated the possibility that a part on the aircraft had failed and caused the explosion. This wasn't a popular theory because of the Boeing 747's excellent safety record and the fact that aircraft in general weren't in the habit of exploding in mid-air. When all of the information was in and the final report issued, it was determined that the cause of the crash was probably a wire in the fuel indicator system that had grown old and frayed. There wasn't enough direct physical evidence to prove it beyond a shadow of a doubt, however subsequent investigations of aircraft that were as old as the 747 on Flight 800 - twenty five years - showed wiring cracks and fraying in a manner consistent with the theories advanced about the crash of Flight 800 (Adcock 08). The Federal Aviation Agency has since initiated an aging aircraft program with t... ...e need for adequate funding and personnel by the FAA. The FAA is obviously doing everything that it can under the circumstances, however the trend toward cost cutting and compromise of maintenance programs is continuing. It is showing no signs of lessening due to the fact that the airlines are continually being squeezed between needing to lower fares and pay higher maintenance costs. WORKS CITED Dickey, Christopher. "What Went Wrong." Newsweek International. August 2000 Fed: Undercarriage collapses on Qantas jet. AAP General News (Australia). April 22, 2000 "FENA for proper maintenance of DC-10s to keep these running, The Independent". September 2000 Hinson, David. "ValuJet Airlines crash." Jet lag.(Federal Aviation Commission ( The New Republic ). 12-16-1996 â€Å"Incorrectly Reports Inspection Cycle for Part Implicated in the Alaska Flight 261 Tragedy†. Business Wire. May 2000 "Oversight of Maintenance & Repair Facility Practices Under Examination". Air Safety Week. July 1999 PG Sullivan, John. "FAA delayed telling airlines about failed cables Agency defends move, saying part not crucial for flight control†. The Dallas Morning News. June 2000

IPSR – apache desert ops

It was originally designed to be an awesome and highly manoeuvrable weapons platform to combat the might of the Soviet Army as their tanks advanced across the Russian Steppes towards Western Europe. Today, long after the demise of the Cold War, the Apache helicopter has become a key tool in winning the war against terror. Such are the geographical locations of the ‘Axis of Evil' nations, that the ability to operate in desert environments is of paramount importance. To be able to deliver capability in such conditions, the armed forces must also train for warfare in a similar environment. The British currently have armed forces fulfilling operational commitments in Afghanistan and Iraq, and have recently conducted training exercises in Oman and Arizona. At present there are no indications to suggest that the current political situation is about to change to any large degree. Therefore, with the promise of desert operations for the foreseeable future, it is imperative that the operators and maintainers of all battle-winning equipment go to every practicable length to ensure that their equipment is fit for purpose. It could be argued that a modern attack helicopter, with a multitude of high-speed, high-tech, rotating components, complex gadgetry and sensitive sights and weapon systems, all manufactured to close tolerances, presents a lot to consider. Add to that the ever-present consideration of ‘flight safety', which places extra onus on the requirement for absolute reliability, then indeed maintaining Attack Helicopters in desert conditions has the potential to become a veritable minefield. There is much inherent strength in the design and construction of such rotorcraft but the desert environment does take a lot out of them and as a consequence reliability suffers. The purpose of this project is to look specifically at the Apache, now that it has established itself on operations in Afghanistan, and consider what improvements can be made to increase serviceability, efficiency and availability. The US Army gives assurances that the Apache contributed to the Desert Storm Victory by destroying approximately 500 Iraqi tanks1 and being available over 90% of the time. However, the story behind those numbers is very important in terms of understanding this piece of high-tech weaponry. The Apache demanded such a high level of logistic support that the US Army engaged in several management initiatives to keep the helicopters flying and repaired in the Gulf. * Over 300 Apaches worldwide were essentially grounded in order to provide spare parts for 274 Apaches in the Gulf. Apaches outside of the Gulf flew an average of four minutes per day, only 10% of normal operations in order to save spare parts.2 * Despite receiving massive logistical support, Apaches in the Gulf only flew at or below peacetime rates, even during the ground war reporting period.3 The peacetime rate is about 1/2 hour of flying per day, averaged over a month. This means that throughout the war Apaches only flew one fifth of the hours the US Army stated it would require for combat4. It is possible that combat objectives for the Apache were achieved during the 100 hour ground war, but even so it remains unclear how a longer conflict would have strained Apache supply and readiness. So, there are clearly lessons to be learnt from the American experiences during Desert Storm, where the harsh desert environment stretched the supply line to its limits. The British fleet of 67 Apaches is already stretched before the demands of Desert operations take their toll. The British Army must therefore seek ways to minimise the effects of the environment on their helicopters if they are to fulfil their designed role on operations. The group will consider all aspects of the Apache aircraft and study the effects of the various characteristics of the desert environment on each aircraft system. The prime purpose of the Apache is to act as a flying weapons platform; the remainder of the aircraft's systems, although critical in their own right, are largely irrelevant if the delivery of the weapons payload is compromised because of environmental conditions. The author has consequently selected the weapons systems as his specific area of research and having gathered and digested all of the available evidence, he will be able to offer recommendations that may assist the Apache operators in enabling them to fulfil their role. 2. AIM To identify the damaging effects caused by sustained operations in a desert environment and to establish procedures to limit that damage5. 3. GROUP MEMBERS' BACKGROUNDS AND PROJECT ROLES The group has established a clear set of project objectives, which will encompass every aspect of the aircraft and the desert environment. The group goal is to produce realistic and deliverable outcomes. The project's main objectives are: * To identify which components are suffering from the effects of desert operations. * To understand the mechanism of the effect. * To develop measures to reduce the effect * To produce a coherent set of procedures to be adopted pre-deployment and during operations. 3.1 Author's Role and Enabling Objective. The author has 20 years experience of aircraft engineering within British Army aviation. His is currently employed as the manager of ground support elements at a first line aviation regiment. He has previously been involved with helicopter fleet management, delivery of technical training, and forward and depth maintenance. The Author's role within the group is to investigate how operating in a desert environment affects the efficacy of attack helicopter weapons systems, and to suggest procedural changes to ameliorate the effects and overcome tangible problems. 3.2 Runner Grewal's Role and Enabling Objective. Runner Grewal has been employed at various British Army Aviation units around the world; as a shop floor technician and supervisor and at management levels. During this time he has been involved with several deployments to the Middle East and has first hand experience of desert operations. Runner's role within this project is to explore the way the Apache's engines are affected by the harsh desert environment and to produce recommendations that would enable the effects to be minimised. 3.3 Chris Hueck's Role and Enabling Objective. Although trained as a toolmaker Chris Hueck has spent the past 15 years in Army Aviation in various theatres of operation and on several Aircraft types. He has been employed as a shop floor technician and as an Artificer at both first line and depth maintenance levels. Chris' role in the group is to examine the effects a desert environment can have on the Main Rotor and Tail Rotor Hub and Blades on Apache attack helicopters, and to find engineering and procedural solutions to limit the damage. 3.4 Bob Beckwith's Role and Enabling Objective. Bob Beckwith is employed as the leader of the On Site Support Team at the Lynx Business Unit. Although heavily involved with British Army Lynx helicopters, he has previously been involved with the delivery of Apache technical training. He initially trained as an avionics technician and through a long period of involvement with British Army Aviation he has accrued a broad depth of knowledge of rotary wing operations. Bob's role is to investigate the effects of the desert environment on the attack helicopter avionics and instrument systems and produce a series of recommendations to minimize these effects. 3.5 Daz Roderick's Role and Enabling Objective. Daz Roderick has been employed in running a maintenance section responsible for carrying out the inspection, modification and repair of Army helicopters. His role is to investigate the effects of operating in a desert environment on the Attack Helicopter structure and to compile recommendations to ameliorate the effects 3.6 David Bower's Role and Enabling Objective David Bower has been employed in many aspects of Army aviation including delivery of technical training, as an Engineering Desk Officer in the Lynx Integrated Project Team (IPT) and more recently in forward and depth maintenance of Lynx and Apache helicopters. David's role in the group is to examine the effect of a desert environment on flight control systems in attack helicopters, providing an understanding of the damaging effect in order to propose mitigating procedures or modifications. 3.7 Andy Evan's Role and Enabling Objective Andy Evans has been employed in broad ranging aspects of helicopter engineering. He has recently been employed in an accident investigation capacity and this role involved investigation of any incidents resulting from a technical fault. Andy's role is to investigate the effects of the desert environment on the AH transmission system and to produce procedural recommendations to counter those effects. 4. ANALYSIS OF AUTHOR'S TASK The Apache weapons set-up consists of three major subsystems, namely the Area Weapons System, the Missile System and the Rocket System. These systems are linked to other aircraft and weapons related subsystems such as Longbow Fire Control Radar (FCR) and Target Acquisition and Designation System & Pilots Night Vision System (TADS/PNVS). In turn the FCR and TADS/PNVS interface with the pilot's controls and display systems. For simplicity and by way of giving boundaries to the area of research, the author will be concentrating his research into the electronics and hydro-mechanical aspects of the three main sub systems. Fig 1. Weapon Inventory 4.1 The Area Weapons System (AWS). The M139 AWS provides the aircraft with an accurate, quick response weapon for close, medium and long range suppressive fire on soft or medium type targets using a range of 30mm projectiles. The AWS consists of three subsystems * The M230E1 Gun * Turret Assembly * Ammunition Handling System Fig 2. Area Weapons System Ancillary subsystems and components pertinent to the operation of the AWS include the System Processors, Controls and Displays subsystem, Utility Hydraulic subsystem, Embedded GPS Inertials (EGI) and Air Data subsystem. This weapon is a crucial component in the Apache's arsenal, and must function as required whilst operating in desert environments. The author will conduct research into the current effects of the operations on the AWS and all of its subsystems. 4.1.1 It is not anticipated that there will be problems with the gun subsystem, as this is a rugged well proven design that is used on various other platforms. It is probable that the only desert precaution required on this subsystem is the requirement for a more frequent and rigid cleaning regime, without the use of excessive lubricants. The author also suspects that there may be a probability that sand and dust may contaminate the barrel whilst the aircraft is parked; he will therefore consider the viability of introducing a muzzle cover to be used on the ground. 4.1.2 The Turret Assembly subsystem is hydraulically driven and electrically controlled and provides support and positioning of the gun under all aircraft operating and weapon firing conditions. The hydraulic and electronic aspects should be reliable under desert conditions and therefore fairly trouble free. The one area of potential concern is sand and dust ingress into the gears and bearings within the Azimuth Drive Assembly. The author will investigate the occurrences of problems on this subsystem; it is suspected that a strict cleaning regime would be a sufficient and efficient preventative maintenance undertaking to overcome the majority of potential pitfalls. 4.1.3 The Ammunition Handling System's (AHS) primary function is to store, transport and transfer 30mm linkless ammunition for the AWS. The ammunition is stored in the Ammunition Storage Magazine, and is then transferred to the gun along the right hand side of the aircraft. This is deemed to be the most susceptible subsystem within the AWS to the effects of a desert environment. It has a various sub-components that may be particularly vulnerable to damage through sand and dust contamination. The author will research into the extent of the problems experienced with the AHS and will seek solutions and recommendations accordingly. Initial research6 has revealed that the Sideloader Loadhead Assembly which is the electromechanical device that loads ammunition into the AHS is particularly susceptible. It is a complex and detailed unit that must be kept free from contamination, the author will determine the exact nature of the concerns and attempt to reach some conclusions and recommendations. 4.2 The Missile System The Longbow Hellfire Modular Missile System (LBHMMS) provides the primary weapons system for the Apache. It provides combat crews the capability of multiple target engagement; indirect fire; day, night and adverse weather operation; extended range; short flight time; rapid or ripple firing, and fire and forget capability. The LBHMMS consists of three subsystems: * Missile Launcher * Missiles * Environmental Protection Covers 4.2.1 The Apache can carry up to four M299 launchers, which are fitted to the stores pylons on either the inboard or outboard stations, dependent upon the aircraft's role configuration. The author foresees there being causes for concern regarding certain aspects of the launcher assemblies, in particular: * Overheating of the Launcher Electronic Assembly * Sand contamination of the launcher rails * Sand contamination of the Umbilical connectors and springs Fig 3. The Longbow Hellfire Modular Missile System 4.2.2 The missiles themselves are not deemed to be an area of specific concern. They are stored in almost clinical conditions, and procedure dictates that they are only loaded when required. They should therefore be immune to the erosion and excessive heat exposure that may affect other components. However the author is conscious that no stone be left unturned, and will carry out research to confirm his suspicions. 4.2.3 The Environmental Protection Covers are not a consideration, as they are the intrinsic anti-deterioration device for the missile system. They comprise frangible covers for the missile tips that are detonated immediately prior to missile launch. This adds further weight to the author's confidence in the strong desert-resistant qualities of the missiles themselves. 4.3 The Rocket System The Aerial Rocket Control System (ARCS) enables the rapid and effective delivery of up to seventy six 70mm rockets against light armour and soft targets. The ARCS consists of three subsystems: * M261 Rocket Launcher * Rockets and Warheads * Controls and Displays 4.3.1 The M261 Rocket Launcher is the prime area for concern within the ARCS system. The launcher is of aluminium construction, which by its very nature is susceptible to sand erosion damage. The author has already been made aware of issues concerning this piece of equipment. The MoD have raised an urgent requirement for an evaluation of the effects of sand and dust on the lightweight rocket launchers7. The author intends to chase this particular lead and ascertain the exact nature and extent of the damage being caused, and how the solutions offered by TUV product service will enhance desert operations. 4.3.2 For similar reasons given for the Hellfire Missiles, the author foresees no areas of concern with regards to the Rockets and Warheads or the Controls and Display Subsystems. However, the launcher electrical connections may be susceptible to extreme heat damage, the author will therefore pursue that route of enquiry. 5. AUTHOR'S PROGRESS AND ACHIEVEMENTS Having changed his Enabling Objective from Avionics and Instruments to Weapons Systems, the author has quickly identified his personal areas of concern. Initial research and familiarisation with the Apache weapons systems has identified the most likely areas to be susceptible to the harsh environmental conditions, as detailed in Para 4. The next step is to confirm that the identified problem areas do indeed need addressing. There are plentiful sources of information available and at the time of writing the author is awaiting information from: * Joint Helicopter Command * Apache Helicopter Integrated Project Team * 7 Air Asslt Bn REME * 3 & 9 Regt Army Air Corps * Work Recording and Asset Management (WRAM) database. There is also a meeting planned at the Service and Repair Agency at Wattisham, where the weapons system components are repaired and overhauled. Here the author hopes to witness the depth of the damage being caused by desert operations and the level of repair necessary. The internet has proven to be a worthwhile source of information; it is from here that the author retrieved statistical data from the US Apache Operations on Desert Storm. Mr Clodfelter of Inter Coastal Electronics has given the author information on the desert performance of the Collective Training System (helicopter ‘laser-quest'); however, the author is unlikely to pursue this lead as it is a training system only. The author has been an active early contributor to the group as a whole and has been instrumental in establishing the Group Site on MSN, which has enabled the transfer of information with ease. He hosted and took the minutes for the first group meeting and was the inspiration behind establishing the Enabling Objectives that would provide deliverable outcomes for all group members. The author continues to search daily on the internet for useful information that may benefit the outcome of the whole project. 6. GROUP ACHIEVEMENTS AND PROGRESS The group has gelled early, and the quickly established EOs8 which have enabled individual group members to concentrate on specific areas of research. This was achieved by breaking down the aircraft into its main systems. There will certainly be areas that have the potential to overlap, for instance the author may well have included TADS/PNVS as part of the weapons system whilst it would also be correct for Bob Beckwith to have considered it as an avionics subsystems. Regular emails and the use of the Group MSN page has prevented confusion by encouraging regular and effective communication. The group has held two meetings thus far, discounting the initial formation at Kingston, and fall-out from these has been essential in providing momentum for project progression. There has been strong teamwork evident at these meetings, with responsibility for chairing the meetings and writing the minutes being equally shared. It is essential that a full group meeting takes place during the first reading week at Kingston in November to enable the non-Wattisham based members to offer face to face input. A specific area to be addressed is the comparison of log books as there is evidence of some discrepancy in the layout and compilation. 7. CONCLUSION At this early stage it is difficult for all individuals to be certain of their specific avenues of research. All group members have identified the areas that they suspect may be susceptible, and have made initial approaches to various agencies in the hope that they prove to be fruitful. There is certainly scope for some meaningful research and a definite requirement for improved performance in a desert environment. The team is focussed, professional and each member has a clearly defined objective.