Deluxe Corporation Case

Deluxe Corporation Case
[pic]
By: Michael Malone
Statement of the Problem Rajat Singh, a managing director at Hudson Bancorp, needs to find a way to rejuvenate the paper
check corporation. One main part that needs to be calculated is the appropriate mixture of debt and equity for the firm. The
company needs to determine the correct mixture so that they can both minimize the cost of capital and increase the
shareholders value. I will analyze the current and future situation of the company, trying to find the correct credit rating to use
that will increase income. With the new credit rating, I will be able to recommend a certain amount of debt for the company to
take on and be profitable.
Facts and Assumptions When trying to accurately calculate the cost ... Show more content on Helpwriting.net ...
Analysis Using CAPM to provide the calculation for the equity, this presents both positive and negative effects.
Advantages
1. Calculates the amount of compensation the investor demands for taking additional risk 2. Compares the returns of the asset
to the market over a period of time (Beta)
Disadvantages
1. Based on historical data onto the future (Beta is an estimate) 2. Simplifies assumptions about the market and how investors
will actually behave.
Taking the CAPM equation, we were able to figure out eh cost of equity and in its credit range CAPM = Rf + (Rm–Rf) β
=3.45%+(11.03%3.45%)*0.85
CAPM= 9.89%
With this, we can then find each of the costs for equity by averaging them within each of the bond rating categories. This
showed a very flat performance in cost of equity. I we compare that to the market beta, our answer for CAPM would change
from the 9.89% to the 11.03%. According to exhibit 8 in the case, a cost of equity of 11.03% is between a BBB and BB bond
rating. Therefore, if they were to repurchase stock from investors, there share prices would in theory go up because they are
investing more and more money into the company. With the three debt instruments in the case, hundreds of millions of dollars
would become readily available to the company and be at their disposal. Each of the financing opportunities provides their
own money in different forms. Great companies need these different financing ideas to
... Get more on HelpWriting.net ...

Personal Management Case: A Business Partnership Gone Bad
Winter
2011
By DeEsta L . Crenshaw Writing Assignment: Personal Management Case March 07, 2011 La Verne University
Abstract For the purpose of this assignment, the names and location of interest have been changed. Let the name Partner–D be
used in the place of DeEsta Crenshaw, Partner–W represents the ex–business partner, ... Show more content on
Helpwriting.net ...
On August 06, 2006, via telephone, Partner–D made the initial call to Partner–W as suggested by Goodfriend. Partner–W
introduced herself as a licensed mortgage broker, working for Company–C, and that she was successful at finding affordable
housing without the use of a real estate agent. Party–W was certain there were plenty of people to rent out any property
obtained; that buying in the area required minimum down; a profit would occur within a year and the house would pay for
itself. During this event, PartnerW was using interest–based persuasion (Shell et al., 2007) while at the same time, used the
power to educate (Ury, 2007). Partner–W started out by identifying Partner–D's interest and/or purpose for buying property,
which was clearly defined (Fisher et al., 1991). And it was further determined, by the use of integrative bargaining, it would be
a win–win situation and would create a shared goal for mutual gain (Fisher et al., 1991). Partner–D would be gaining extra
income; and Partner–W would gain commission for the sell of the property. Partner–D went to the balcony to think about the
information provided (Ury, 2007). Overall, the idea seemed like a good idea and Partner–D felt she was in good hands
4
because of the family connection between Goodfriend and Partner–W. The decision was to move forward. A search for income
property began. During this time, two single–family

Shattered Dreams: Level 3 Communications
1. What was the planned strategy of Level 3 Communications in the late 1990s?
Ans.
To offer low–priced fiber–optic network that covers connections to major cities in the US focusing on the internet traffic for
service providers and corporations. The plan starting from gathering funding from investors to build up a high capacity fiber–
optic network that linked major cities in the US, then cut prices to attract major users of the networks including corporations,
Internet service providers like AOL and traditional telecommunications companies.
2. Why was Level 3 Communications able to raise so much capital?
Ans.
Because the business that Level 3 Communications were entering seemed to be promising in the view of investors.
2.1 A ... Show more content on Helpwriting.net ...
4. What have been the emergent strategies of Level 3 over the last few years? How do these emergent strategies fit with Level
3"s original plans?
Ans.
Emergent strategies were used to prevent Level 3 from bankruptcy.
4.1 Additional $500 Million cash were supported by the investors to acquire two software companies namely; Software
Spectrum and Corporate Software so that Level 3 could ultimately use its fiber–optic networks to distribute and maintain the
software made by companies such as Microsoft on the PCs and Servers as means to reduce cost
4.2 Level 3 consolidate the market by acquiring bankrupt competitor, Genuity at very low price.
4.3 Level 3 expand to offer Voice over Internet Protocol services to consumers and corporations aiming at market dominated
by traditional wire line telephone companies.
5. Were any cognitive biases at work at Level 3, other communications companies, and the investment community during
1997–2001? What were those biases ? what were the effects of those biases? How might an entrepreneur like Jim Crowe have
avoided them?
Ans.
Yes, there were cognitive biases at Level 3 and other companies as well as the investors during 1997–2001. The biases were...
5.1 The statement in 1996 by Michael O'Dell, the chief scientist at UUNET that internet service had growth of 1000 percent.
Later on, in October 1998, there was a study conducted by an internet researcher at AT&T labs; Andrew Odlyzko that the

Essay on The Principle of Separate Corporate Personality
The Principle of Separate Corporate Personality
The principle of separate corporate personality has been firmly established in the common law since the decision in the case of
Salomon v Salomon & Co Ltd[1], whereby a corporation has a separate legal personality, rights and obligations totally distinct
from those of its shareholders. Legislation and courts nevertheless sometimes "pierce the corporate veil" so as to hold the
shareholders personally liable for the liabilities of the corporation. Courts may also "lift the corporate veil", in the conflict of
laws in order to determine who actually controls the corporation, and thus to ascertain the corporation's true contacts, and
closest and most real ... Show more content on Helpwriting.net ...
The 'veil of incorporation' can be described as being the separation between a company and its members. Due to the separate
legal status of a company from its members this is usually very strictly maintained. However, there are certain circumstances
when the courts will deny the people who run the company the advantage of hiding behind the corporate veil. In these
instances the veil of incorporation is said to be 'pierced' or 'lifted', i.e. the barrier between a company and its members is
removed so there is no legal separation between them. There instances are however, difficult to predict as the reasons depend
on the judges interpretation of "fairness" or "policy" or of how a particular statute should be interpreted.
In the leading case of Salomon v Salomon & Co Ltd, Salomon incorporated his boot and shoe repair business, transferring it to
a company. He took all the shares of the company except six, which were held by his wife, daughter and four sons. Part of the
payment for the transfer of the business was made in the form of debentures (a secured loan) issued by the company to
Salomon. Salomon transferred the debentures to Broderip in exchange for a loan. Salomon defaulted on payment of interest on
the loan and Broderip sought to enforce the security against the company. Unsecured creditors tried to put

Lit1 Task 310.1.2-01-06 Essay
Part A (The report) Part B (The memorandum) Student Name Western Governors University Part A (The report) Determining
what type of business venture to either start or invest in can be challenging. Over the next several pages we will evaluate the
various types of business organizations and at the end of this report; you should have an initial or better understanding of the
different types of business forms. Sole Proprietorship: The word proprietorship can sound intimidating. It is important to
remember that most things are simplified with knowledge. If your business is a sole proprietorship then you as an individual
are the owner and operator of that business. This means the sole proprietor handles everything from setting up ... Show more
content on Helpwriting.net ...
Control: A sole proprietor has total control of the company and they make all the good decisions and they must deal with
decisions that did not turn out the way they intend. The other notable factor in being a sole proprietor of a business is what
would happen to the business if the owner became ill or died; typically the business would stop operations based on the
structure and debts would need to be resolved as well as customer commitments would need resolving based on the type of
business. Profit Retention: In addition to reaping the profits from the business, the sole individual is also responsible for all
debts incurred and for paying expenditures of the business. Location: In addition to federal laws that govern business a sole
proprietorship is governed by the state laws in which it operates. If the proprietor opens another business location in a different
state. The new state laws will govern the other business location therefore requiring the proprietor to understand and be
compliant with more than one state laws based on the location of the business. (Beatty & Samuelson, 2007, pp. 755–756)
General Partnership: Occurs when two or more individuals get together to operate a business with the intention of making
profit. Each individual is a general partner of the business and all profits and losses are shared between the partners. General
partnership agreements can be a written or verbal agreement.

Kahoenix Brooke Kloster Case Analysis
Plagued by Problems Ultimately, the Board rejected the Phoenix prompting Knut Kloster to resign to pursue his dream ship. It
was a difficult period for the business and NCL, which had also acquired the deluxe Royal Viking Line, found itself faced with
mounting challenges including rampant discounting and aggressive expansion by the competition. Financial pressures were
also mounting resulting in a net operating loss of $6 million in 1986, compounded by a collapse of the global financial markets
which doomed NCL's planned initial public offering. A long period of financial difficulties was beginning that would see the
company struggle through multiple changes. In 1987, NCL made the painful cost–cutting decision to reflag all its ships to the
Bahamas, while the corporate identity was recast as Norwegian Cruise Line as they began to expand beyond Miami. The
Starward moved to San Juan and then the Southward moved to Los Angeles. After eight years, NCL at last introduced its first
new ship, the ... Show more content on Helpwriting.net ...
Just as it had in the 1960s and 1970s, NCL would lead a revolution that would redefine cruising. However, Stuart admits the
response was neither universal nor immediate. "When we launched 'Freestyle' we tried telling guests this is how it will be, but
we heard disappointment," he says. "On the second trip we started saying to guests you 'can' do this and they liked the
options." As they worked to build an understanding of the new approach, existing ships were retrofitted and two planned new
builds were reassigned from Star. "NCL went all in – failing was not an option," explains Stuart. Introduced in the fall of 2001,
the 90,000 gross ton mv Norwegian Star was NCL's first newly built "freestyle ship." Employing many of Star's designs, she
featured 10 dining venues, a pub, karaoke bar, spa with indoor pool, and two garden villa

Assigment Law
This is one of our Company Law's assignment given by our lecturer in our senior year, during the tutorial classes. Just to share
our answers. Question Pearl, Jade & Diamond decided to form a limited company. The company will be involved in the
entertainment business providing models and dancers for the industry. In the meantime, they entered into a contract of
employment with Tyra. Tyra is to act as their event manager. The terms of the contract states that Tyra will be paid RM10,000
a month and will continue to work with the company once the company has been formed, for a period of three years. Three
months later, a company known as CayoteUgly Bhd (CUB) was formed. CUB's MOA expressly states that the business of the
company is to ... Show more content on Helpwriting.net ...
In addition, Tyra was referred as a promoter because she is the person entered into contracts on behalf of a company before
that company has received its certificate of incorporation. In Twycross v Grant (1877) 2 CPD 469, for example, Cockburn CJ
declared that a promoter was: "one who undertakes to form a company with reference to a given project and to set it going,
and who takes the necessary steps to accomplish that purpose" In regards, the CayoteUgly Bhd (CUB) was formed and the
Board of Director's meeting has decided to issue their shares to the public. Impulsively, Tyra's employment was come to an
end, and it was absolutely contravened with the contract she had, which was stated that she will continue to work with the
company once the company has been formed for a period of three years. Besides that, she will be paid for RM 10,000 per
month. Hence, the issue is whether Tyra would be successful in her action against CUB for breach of contract or not? CUB is a
public company and by that it may issue shares to the public with the requirement to issue form of application for shares or
debentures with a prospectus [1]. As evidence on this, Section 15 provides that a public company is not affected by the
restrictions, limitations and prohibitions and it may offer its shares and debentures to members of the public. On the other
hands, a company limited by shares is defined as, "a company

Corporation and Equity Participation
(a) "Nemawashi" is an agricultural metaphor. The idea is that before a farmer plants a seed, he should prepare the roots and the
soil, so that the seed has the best chance of survival. It is a political process by which an unofficial understanding is reached
before a final decision is made on a particular matter. "Nemawashi" is Bottom–up style decision making (middle management
has the greatest influence on decision making). The Japanese are primarily concerned with harmoniously working out
problems without causing interpersonal frictions, such nemawashi is employed as simply informal lobbying to gain consensus
before action. A complete consensus is essential and this is achieved by using the process of "ringi". Everyone stamped his
chop ... Show more content on Helpwriting.net ...
If one is greeted with a bow however, they should return the bow, preferably as low as the one they received. How low one
bows determines the status of the relationship between the two. Between Japanese, subordinates will bow deeply and their
superiors will not to the same extent. Before everyone takes a seat, it is an essential part of Japanese business etiquette to
exchange business cards. In Japan, business cards are called 'meishi'. They are considered not only as serious tools for
establishing business contacts, but also as identification of the individual and the company he/she represents. Business cards
should be printed with one side in Japanese and one side in the language of the individual's home country. It is in ones best
interest to offer their business card with both hands as this denotes greater respect. Unlike many Western countries where it is
acceptable to 'pocket' a business card upon receipt, it is considered extremely rude and disrespectful in Japan. In comparison it
is expected for the recipient to review and memorize the details printed on the card and then carefully place it in a card holder
or pocketbook. As Japanese business meetings are conducted formally, it is unacceptable for members to dress casually.
Acceptable attire for men includes conservative suits in a dark color. Women are also expected to dress conservatively and
should avoid wearing trousers as Japanese men may take it offensively. In

The Dark Side Of Zombies
Darkness devoured everything in sight. A sea of lifeless moans crashed into the walls that kept me prisoner. I could feel the hot
breath of those creatures seeping through the walls. Paranoia invaded my brain like the disease that infested those monsters.
They were constantly trying to get in. They knew I was here, I was a meal trapped in a cage and every intake of breath was a
ring of the dinner bell. Suddenly the snaps of rotting wood punched my ear drum. The snarling monsters came tumbling
through the gaps, their twisting bodies shuffling towards me. As their outstretched limbs searched for my flesh I was ripped
away by the ring of a phone. The television had sucked me in once again. Casting me in the middle of the fictitious
apocalypse. The concept of zombies has always been a welcomed thought to me but why? Why am I and other humans
fascinated with the thought of this life threatening concept? These creatures are known by many names. The undead, zombies,
even the popular tv show "The Walking Dead" refers to them as walkers. Within history we find that the term 'zombie' comes
from Haitian folklore where corpse reanimation was achieved mostly through magic. In recent times radiation, mental disease,
scientific accidents, etc. attribute to this reanimation.
HISTORY
The idea of zombies can be traced all the way back to 8th century. Voodoo priests used black magic to possess their victims or
so they say. They actually applied a deadly poison from a porcupine fish known as

Mcgee Cake Co Essay example
Minicase – The McGee Cake Company
1. What are the advantages and disadvantages of changing the company organization from a sole proprietorship to a LLC?
The McGee Cake Company, currently operating as a sole proprietorship, may benefit from forming a limited liability company
(LLC). An LLC is a comparatively new type of business entity. With an LLC there are reduced legal formalities in comparison
to setting up a corporation. In addition, unlike a corporation, the McGees could set up an LLC yet remain the sole owners of
the company. Another advantage as the owners of an LLC, the McGees are taxable only for personal income and not for the
income of your LLC. Therefore, they would not pay double income tax. An LLC also has a long ... Show more content on
Helpwriting.net ...
As a corporation, the McGees may be able to find new sources of funds for business development. Many people, including
shareholders, could invest in the corporation. Finally, the corporation is the most reliable and trusted form of business entity. A
possible downside to incorporation, the McGees may have to put up some of their private assets as a guarantee for the
repayment of funds to financial institutions, if they are not found eligible for payment of money. Incorporation is not a small
ordeal; it involves many legal formalities, laws, agreement documents, etc. It is necessary to prepare and revue all these
documents carefully. Additionally, setting up the corporation will be an expensive task. There are good and bad aspects to a
corporation in reference to taxes. With a corporation, the McGees will be taxable for self income, as well as for the
corporation's revenue. However they will enjoy personal tax credits as with the sole proprietorship.
3. Ultimately, what action would you recommend the company undertake? Why?
After reviewing the pros and cons to LLC and corporation business structures, as well as the business strategy of the McGee
Cake Company, I would recommend to Doc and Lyn that they form a corporation to move the company forward. Although
initial set of a corporation up may be complicated and have some cost, the potential for the company is great. The scope of the
possibility is what makes the corporation

Case Study Giganet
Name: Chris Ratliff Section #: 13
Instructions: 1. Use this sheet as the cover sheet. 2. Each question must begin on a new page. 3. There is no minimum length,
remembering quality over quantity. 4. The analysis must be typed–double spaced. 5. Due date is Monday, March 14th at 3:00
PM and is due electronically (as an email attachment).
After reading the case...Imagine that you are CEO of GigaNet and must consider the following in trying to solve this dilemma.
Questions:
1. Describe the current situation surrounding GigaNet? 2. What options are available to you? How does each of these options
serve your personal interests, those of investors and those of employees? 3. What do you recommend be done in ... Show more
As CEO if I were to deny the offer, I would be putting a lot of trust into the potential of the company and how far it could take
all of its employees. I would have to trust that the hot streak this company will continue to a point where the value exceeds the
offer from Emulex. From the employee perspective I would be happy if the offer was denied, simply because the culture
instilled within Giganet is one of mutual benefit and teamwork. Currently the employees know that the harder they work to
make Giganet a success, the more wealthy they will get. Knowing that momentum is with them and that an acquisition would
only change the dynamic of the job, I assume that employee would be very satisfied with a choice to deny the buyout offer.
Even though it means that they will have to work extremely hard for a good amount of time, the potential of where the
company will go motivates them.
3.) After considering the situation, who the decision affects, and my past experiences as CEO I would deny Giganet's offer to
buy the company out. Although I am extremely interested in a buyout, companies like Tranmeta Corporation and Arrowpoint
motivate to move on with initial plans with investor in continuing to build the company until it can eventually go public.
Arrowpoint, a company comparable to Giganet at one point, was able to raise $4 billion in their IPO and were able to turn
around and sell out to Cisco Systems for $5.7 billion. With all

English Case Law on Piercing the Corporate Veil
Piercing the corporate veil is a term that is commonly used in corporate law to refer to cases in which the limited liability of
the Corporation becomes unlimited to be able to impose certain responsibilities either to the particular Corporation or to the
shareholders of a corporation. The idea of piercing the corporate veil has been the answer to social problems that come form
the principle that corporations have limited liability. When studying limited liability in the United Kingdom it can be found
that the topic is regulated by case law. According to what the court has said there are two main events in which the veil can be
pierced. This is either when the corporation is created to evade existing obligations, or when a single economic ... Show more
In respect to what has just been explained there appears to be a sense between the courts concepts. They started with a simple
concept of the previous existing obligations and evolved through the cases to the concept of the façade. The problem of this
way in which the court has evolved, is that the concept of the façade is not clear enough. Even though it has been developed in
some cases, a clear concept or definition of what the court means by façade has not been made. The definitions that have been
made are pure inductions that the academics like Kershaw make of the cases.
The other main event in which the court gives place to lift the corporate veil is in the case of the existence of a single
economic unit. This means that a group of two or more corporations (being one the parent one) work as a single one, even
though they are different companies a separate business operation does not exist. The most important cases that are taken into
account when referring to this circumstance are DHN Food Distributors v Tower Hamlets LBC (1976) (case 1), Woolfson v
Strathclyde Regional Council (1978) (case 2) and Adams v Cape Industries Plc (1990) (case 3). In both, case 1 and 2 the court
in accordance to the facts decides that the veil should be lifted, but it does it for different reasons. In case 1 the judges decide
to lift the veil because of the

Problems in Financial Management
CHAPTER 1 AN INTRODUCTION TO THE FOUNDATIONS OF FINANCIAL MANAGEMENT – THE TIES THAT
BIND TRUE/FALSE 1. The difference between the market value of the firm and the amount of money invested in the firm is
known as market value added. Answer: True; Difficulty: 1; Keywords: Market Value Added, Goal of the Firm 2. A company
that wants to maximize earnings per share may either over invest or use too much debt. Answer: True; Difficulty: 2;
Keywords: Earnings Per Share, Goal of the Firm 3. Shareholder wealth maximization means maximizing the price of the
existing common stock. Answer: True; Difficulty: 1; Keywords: Shareholder Wealth, Goal of the Firm 4. It is important to
evaluate all financial decisions by ... Show more content on Helpwriting.net ...
The chief financial officer (CFO) is responsible for overseeing financial planning, corporate strategic planning, and controlling
the firm's cash flow. Answer: True; Difficulty: 1; Keywords: Chief Financial Officer 19. The sole objective of the federal
government in taxing income is to generate financing for government expenditures. Answer: False; Difficulty: 1; Keywords:
Federal Taxation 20. Investors will be indifferent between two investments if both investments have the same expected return.
Answer: False; Difficulty: 1; Keywords: Risk–Return Tradeoff 21. If the stock market is efficient, then investors do not need
to read the Wall Street Journal or research companies before they select which stocks to buy because market prices already
reflect all publicly available information. Answer: False: Difficulty: 2; Keywords: Efficient Markets 22. Giving the company's
CEO stock options as part of his or her compensation package is an example of an agency cost. Answer: True; Difficulty: 2;
Keywords: Agency Costs 23. The risk of a project depends solely on the expected future cash flows it may generate and the
variability of those cash flows. Answer: False; Difficulty: 2; Keywords: Diversification 24. Proper diversification allows
corporations to eliminate all of their risk. Answer: False: Difficulty: 1; Keywords: Diversification, Risk 25. Managers should
not be concerned with business ethics because ethical

HRM 560 WRITING ASSIGNMENT 2 Environmental Pressures v2a...
Assignment 2: Environmental Pressures
Sandra T. Sims, Student
Summer Quarter 2014
HRM 560 – Managing Organizational Change
Instructor: Dr. Mary Hair Collins
1. Create a table where at least three (3) organizational pressures and at least three (3) environmental pressures in the
organization are illustrated and rank those pressures according to their influence. Corporate organizational pressures describe
change both negatively and positively for the company and its employees. These evaluations of environmental and
organizational pressures are described using Company XYZ, one of my previous employers. Change takes place as a
consequence of strategic pressures driving the organization to new directions. The following is a table ... Show more content
on Helpwriting.net ...
The following diagram will assist executives in deploying change management. (Encyclopedia of Business, 2nd ed., 2003)
The diagram above illustrates the resources offered to improve the implementation of change. The Employee's Survival Guide
to Change Book is usually a book tailored for each corporation. This change book will include elements detailing
organizational changes to ensure that each employee is aware of the company's new vision and direction.
3. Explain how the identified environmental and organizational pressures impact the company from a financial perspective.
In Company XYZ, environmental pressures affected the company's bottom line by a direct relationship to the national health
insurance changes. From a financial perspective this change proved positive to the company. All changes stemming from the
merger proved to be profitable for the corporation, even the move of corporate atmosphere to a paperless society. This move
allowed the company to participate in tax advantages of energy savings as well as reduce the cost of paper supplies and
printing cost.
4. Explain how the identified environmental and organizational pressures impact you personally or the other employees of the
company.
In the beginning, from an employee's perspective the change to a paperless society proved to be very difficult. However, given
management directive marker boards were given to each employee to substitute for paper in

Case Deluxe Corporation
Deluxe Corporation
Ninth Annual Institutional Investor Forum Sidoti & Company, LLC
Jeff Johnson, Treasurer and Vice President Investor Relations September 24, 2010
Presentation Scope
■ Comments are limited to information already publicly released:
– 10–K for 2009, filed February 19, 2010 – 10–Q for Q2 2010, filed August 5, 2010
■ All estimates and projections are subject to risks and uncertainties that could cause actual future results to differ materially
from those estimated or projected. Additional information about various factors that could cause actual results to differ from
those projected are contained in the Company's Form 10–K for the year ended December 31, 2009 ■ Non–GAAP financial
measures are reconciled to the ... Show more content on Helpwriting.net ...
wth
2009 Revenue Mix Strengthen Products and Services
Stabilizing and pursuing check share gain Better optimizing business product portfolio Growing business services
Business Services 7% Business Products 30%
Customers
Improving customer experience Driving clearer customer segmentation Adding new customers Unified delivery services
platform Investing in developing services offers
Checks 63%
Technology
Future Revenue Mix
Business Services 25%
Brand Awareness and Positioning
Advertising through radio and on–line media Direct response advertising Sponsoring marketing lab for small businesses
Checks 45%
Business Products 30%
10
Cost Reduction Plan
$ in millions
Cumulative Savings Cumulative Savings
$325
Go–to–Market

(Selling, Marketing, Customer Care)
Channel optimization Sales / Marketing operations Marketing and analytics integration Call center productivity
1/3 COGS 1/3 COGS 2/3 SG&A 2/3 SG&A
~ 45%
$260
Fulfillment
(Manufacturing and Supply Chain) $155 $105
Manufacturing productivity / Lean Direct spend reductions Finish automating flat check packaging in Q3 2010; complete the
expansion of our digital printing Common manufacturing platform Strategic supplier sourcing
~ 25%
$15
Infrastructure
Q3–Q4 2006 2007 2008 2009 2010 Target
(IT, Finance, HR, Legal, Real Estate)
I/T infrastructure including data center reduction Outsourcing relationships Standardization and best practices Aligned
structures Real

Aat Project Based on the Internal Control of Cookridge...
1. Terms of Reference 1.1. The researcher made investigation on the effectiveness of the internal Controls and accounting
system of Cookridge Carpets Company. It also has some additional contents such as recommendations that helps the company
to improve its strengths and weaknesses to protect the company's reputation. 1.2. The researcher also investigated on the
stakeholders of the Cookridge Carpets company, both internal and external. The stakeholders play a very important role in
helping the company's growth. 1.3. The report also investigates that the costs and benefits to Cookridge Carpets and stated that
fraud is a ... Show more content on Helpwriting.net ...
This Venture seems to have increased business. John is married to Paula, who acted as company secretary for the first two
years of the company's existence. 4.3. The Cookridge Carpets company has a relatively flat structure (see Appendix1). This is
a benefit to the company because the structure has few levels of management, has wide span of control, it is decentralized, this
means that the communication between the superiors and subordinates is quick and also has high freedom of responsibilities of
employees. 4.4. The Cookridge Carpets company's accounting department system is Decentralized system. This means the
accounting systems are done in various places. This is an advantage to the company because the decisions within the company
are faster compared to centralized system, the top management has more time to do other things that are part of the decision
making, and also the system is dynamic, this is it is adapted to change. Leadership style of the company is normally laissez
faire because controls within the company is lacking e.g. employees use accounts department computers for their self–interest.
Supervision is also poor, employees do work in their own preferred time. 4.5. External regulations affecting the organization

4230 Hw 3
1. Corporate malfeasance is defined as deceptive and/or fraudulent activities carried out by corporate officers. Usually the
CEO is held responsible for corporate problems, but a firm's board is essential to preventing malfeasance and ensuring that
management acts with integrity. I would describe some of Messier's actions as corporate malfeasance. For example, Messier
repurchased a significant amount of Vivendi Universal's stock (i.e., 6.4 billion Euros from 2001–2002) to fund employee stock
option grants. Because Messier was so focused on the firm's stock, his focus was not on the firm's financial stability nor did he
make the best use of excess cash. Further, the accounting rules used were questionable, as Vivendi Universal used, and ...
Show more content on Helpwriting.net ...
Messier was dedicated to Americanizing the firm, taking away from its French heritage. When Messier decided to sell off
Vivendi Environment, the parent company's most profitable business, to finance a deal with USA Networks he continued to
transform the firm into a media first business neglecting the firm's water supply roots. Now the parent company was left with
debt and many overvalued assets. Vivendi Universal would eventually have to write down significant amounts due to
excessive goodwill estimates from acquisitions. Messier was stubborn. He declared that these loses were not reflective of the
company's sound operations and tried to blame Lescure, the decision–maker for Canal Plus, for the parent company's business
failure, deeming Canal Plus as a tumor for Vivendi Universal. All in all, Messier was adamant in keeping to the story that his
firm was in good financial position, and, because he had the support of board members (who he had initially appointed), others
believed this story as well. His persistence in growing the business fogged his perception of reality–he was managing a failing
business. It is clear that Messier did a poor job as CEO.
3. Messier was a victim of bad timing, however, his failure as a CEO should not only be attributed to poor timing. Yes, the
dot.com bubble burst during his tenure, which may have caused him to over value some acquired firms. Other issues

Corporate Personality
Corporate Personality
[pic][pic][pic]Corporate Personality is the creation of law. Legal personality of corporation is recognized both in English and
Indian law. A corporation is an artificial person enjoying in law capacity to have rights and duties and holding property.
A corporation is distinguished by reference to different kinds of things which the law selects for personification. The
individuals forming the corpus of corporation are called its members. The juristic personality of corporations pre–supposes the
existence of three conditions :
(1) There must be a group or body of human beings associated for a certain purpose.
(2) There must be organs through which the corporation functions, and
(3) The corporation is attributed ... Show more content on Helpwriting.net ...
In case of a company, by incorporation it gains a corporate personality which is separate or distinct from the members who
compose it. The property of the company belongs to it and not its members; it may sue or be sued in its own name ; it may
enter into contracts with third parties independently and even the members themselves can enter into contract with the
company According to Section 34(2) of the Companies Act , upon issue of the certificate of incorporation , the subscribers to
the memorandum and other persons , who may from time , be the members of the company, shall be a body corporate, which
is capable of exercising all the functions of an incorporated company and having perpetual succession and a common seal.
Thus the company becomes a body corporate which is capable immediately of functioning as an incorporated individual. With
the incorporation, the entity of the company becomes institutionalized. This principle of the independent corporate existence
and the principle of corporate personality of a company were recognized in the case of Saloman v. Saloman & Co . In this case
Salomon was a boot and shoe manufacturer. He incorporated a company named Salomon & Co Ltd, for the purpose of taking
over and carrying on his business. The seven subscribers to the memorandum were Salomon, his wife, his daughter and four
sons and they remained the only members of the company. The company went into liquidation within a year. The unsecured

Essay on Business Structure
Sole Proprietorship A business with one owner who is responsible for all features of the business. Everything that happens in
the company from the daily operation to the legal obligations are controlled by one individual. Sole Proprietorship
Advantages: Convenience – Usually the least costly to begin. Sole proprietorships are easy to start up. They entail acquiring
the proper licenses and permits. Regulations very from industry, state, and county. There is no administrative configuration.
Control– Owners are permitted to organize the company in the way they prefer. All choices about how the business will
operate are made by the owner. The owner has the choice of hiring someone to run the company or doing it themselves. ...
In some states the partnership can continue if it is provided for in the partnership agreement. An example would be the other
partners buying out the share of the partner leaving. The reason for this is to protect creditors, and maintain liability for the
debts of the establishment Control – Issues with partners may arise as the resulting from misunderstandings or different goals,
putting an end to the partnership. Burden– Formation and subsequent changes in structure are complex. Limited to a small
number of owners. Each partner is legally responsible for the actions of each partner. Unless you can prove in a court of law
that you did not participate, knowingly or unknowingly, in illegal activities you could be forced to pay fines, penalties or even
serve jail time. Limited partnership Like a partnership a limited partnership has two or more owners. Unlike a general
partnership a partnership agreement is required. The partnership agreement stipulates which partner has what responsibility
and which ones have what authority. Advantages Liability – Limited partnerships have both general and limited partners. A
limited partner has little accountability for the debts incurred by the partnership. At most the limited partner can only lose the
amount they have invested, and cannot run the business Income taxes – Partnerships do not having to pay both a personal and
a business tax. The

Wgu Lit1 Task 2 Essay
| Sole Proprietorship | Description | In a sole proprietorship, the business and single owner are one in the same. A single owner
makes all decisions with regard to the business and the single owner retains all profits earned by the business. The single
owner is also responsible/liable for all debts and obligations of the business on a personal level. | Two Advantages | A sole
proprietorship is easy to create; there is minimal creation cost and time.The single owner has autonomy in decision making;
sole owner makes all decisions related to the business and has complete ownership of business's finances. | Two Disadvantages
| It is impossible to add additional owners and to pass on business, business dies with owner. A single owner ... Show more
| Profit retention | The business itself does not retain any profits. 100% of profits remain with the owner and is considered
personal income. | | General Partnership | Description | A general partnership is comprised of a group of two or more
individuals who enter into an agreement to start a business. The partners and the business are legally the same. The partners
enter into an agreement called the articles of partnership and are typically equally active in the business and the business's
management, unless otherwise stated in the partnership agreement. All profits and losses are shared by the partners in a joint
business venture. | Two Advantages | A general partnership allows for a pooling of capital and talent and a sharing of the risk.
Additional benefits to a general partnership include additional expertise in decision making and a sharing of the workload.
General partnerships are easy and inexpensive to start up. | Two Disadvantages | The partners are jointly and severally liable
for business debts and obligations. The partners are held personally responsible for the business and may be sued personally
for liability. Partners' personal assets are subject to lawsuit(s) made against the business. Lack of continuity; death of a partner
may end the partnership/business if a buy/sell agreement is not in place. Disagreements may be difficult to resolve. | Liability |
Liability is not limited; all partners are liable jointly and

Case Study Toxic Waste Business Essay
––––––––––––––––––––––––––––––––––––––––––––––––– Assignment 1 – LGST 369
––––––––––––––––––––––––––––––––––––––––––––––––– Case Study A & B Victoria Esposito 3088325 Case Study A
– 50 % Stan is thinking about starting a toxic waste disposal business. He plans to collect the waste from businesses that
produce it and then dispose of it in a sanitary landfill. In order to start this business, Stan will need a substantial amount of
money to buy and develop the landfill site and purchase five trucks capable of transporting toxic waste. Stan should have
concerns about operating this business as a sole proprietorship, a sole proprietorship exists when a person carries on a business
on their own, without adopting any other form ... Show more content on Helpwriting.net ...
Even though there are also many advantages of a sole proprietorship, there are other alternative forms of business
organizations that I would recommend, such as a general partnership. A general partnership is a form of business organization
that comes into existence when two or more persons carry on business together with a view to a profit. In order to form a
general partnership, a series of criteria must be met and understood such as; the partnership must register its name and obtain a
business license, a partner cannot be employed by the partnership, all benefits of the partnership business must be received by
the partners directly, all partners are personally liable for all the obligations of the business. There are many reasons why I
would recommend a general partnership for Stan, rather than a sole proprietorship. The first reason is because there is an
option of a limited liability partnership, which means that individual partners are not personally liable for the professional
negligence of their partners and some other obligations if certain requirements are met. Another reason why I would
recommend a general partnership is because the partner legislation in each jurisdiction provides default rules, which is a kind
of standard form agreement for the internal organization of a partnership that applies unless the partners agree to some other
arrangement. These default rules limit disagreement

Impact of Big Business on Politics and the Economy Essay
After the Civil war, large businesses ruled America. Prior to the industrial revolution, the government upheld a hands–off
approach towards business. Under the laissez–faire principle, free, unregulated markets led to competition, yet this system
suffered under the wrath of growing corporations. The impact of big business on the economy and politics was immense
during 1870 to 1899. Corporations were growing significantly in number and size, which had a domineering affect on
American economy and defined American life. The growing corporations in America dominated most of the economy, creating
a large gap between the rich and the poor. During this time period food, lightening, and fuel prices declined significantly, and
the cost of living ... Show more content on Helpwriting.net ...
This illustrates that the Senate is controlled by big business, and how easily wealthy people had power over the government.
Moreover, the railroad presidents were seen as kings, they could delay lawsuits, control the government and the people,
corrupt communities, and control the press (DOC B). Important railroad companies dictated government policies because the
legal system favored railroad interests. Further, trying to better the political system, the Populist Party made themselves
known. Their platform demanded that the government be restored to the hands of the "plain people." They wanted to end
oppression, injustice, and poverty (DOC F). Evidently, they were dedicated to political and social reform, and urged that the
government be strengthened and take responsibility of the people. The harsh working conditions resulting from
industrialization drove laborers to organize into unions. Economist David A. Wells compares working in a factory to working
in the military because workers are taught to perform one single task. Moreover, manufacturing has largely taken away
workers' pride in their work (DOC C). Mass production techniques led to specialization of labor, which subsequently
decreased workers' pride in their craft, as well as left workers largely unskilled. Further Samuel Gompers, founder of the AF to
L, addressed the International Labor Congress in Chicago and stated that people should not be considered property. He
advocated that labor

Business Law Final Exam. Kellogg Business School
Law and Corporate Managers – Prof. Larry Franklin
Question Two A. (i) For refusal
In order to honor the LC, the Seller has to comply exactly with the terms of the letter of credit. There are numerous typo errors
in the LC and misspellings of the destination port and the Seller name, hence only a waiver of the discrepancies from JFTC
will enable Bank of China to pay the Seller. As long as the waiver is not received, the BOC cannot make any payments. BOC
has to state why it is not going to pay. The seller reviewed the LC before the shipment of goods, so it is his mistake that he
didn't point out the discrepancies.
(ii) Against refusal
Since the LC is irrevocable, then JFTC can't make any modifications or cancellation without the ... Show more content on
Helpwriting.net ...
(ii) The five subsequent investors
IF the venture will be established as a LP, then the investors could limit their liability up to the amount of their investment,
therefore they will have one level of tax (they will not pay corporate tax). However, the return on their investment is subject to
the performance of the LP and the profits that derive from it.
In case of corporation, the investors could invest their investment as shareholders with limited liability. But they will have to
pay two levels of taxes. In re the fixed return on the investment, they could provide a loan to the corporation with a fixed rate
of interest that will be guaranteed by the company. (iii) The CEO manager
Bernie will prefer to act as a CEO in a Corporation with a board of directors that will direct him and will borne the direct
responsibility for the acts of the corporation. He will also have the responsibility for the acts of the corporation. In order to
attract Bernie to join the business, it is likely to offer him shares or options to purchase the shares of the corporation. This is
not possible under a LP.
B. I will recommend Jameson to choose Corporation for the following reasons: 1. He is not investing money and he wants to
be owner and involved in the business. The best for him is to be a shareholder of the company and a director. His tax
considerations in this case are not relevant. So there is no advantage in LP.

An Investigation of Avon Essays
Introduction
In this project I will undertake extensive research into a large sized business. I have previously chosen the company Avon. My
research will involve the collection of both primary and secondary data. I will compete the report, which will include:
* Brief background information about the business and what it does
* A description of the aims and objectives of the business
* An assessment of how successful the business is in meeting its objectives
* An explanation of the legal structure of the business and consider how appropriate is it
* An explanation of how each functional area contributes towards the aims and objectives of the organization
* A detailed explanation and diagram of the ... Show more content on Helpwriting.net ...
It was founded by David H. McConnell.
· The first text only catalogue was issued in 1896.
· As CPC was expanding adverts appeared in magazines and a colour catalogue was produced.
· The name is changed from CPC to Avon Products inc. in 1939.
· By 1980, Avon had opened in 50 different countries and its sales had topped $1 billion.
· In 1989, Avon became the first major cosmetics manufacturer to announce a permanent end to animal testing of its products
and later launched its women's health care program in the U.S.
· Today, Avon is known for it's leadership in beauty and continues to raise awareness of breast cancer and has awarded multi–
million grants for breast caner research and clinical care.
About the business
Avon is a company selling beauty and related products. The service provides customers with products of the highest quality. It
provides a service to customers that is outstanding in its helpfulness and courtesy. Why I have chosen this business
I have chosen this organisation for my coursework because it is large enough to research into all areas of the business. There
are several different departments and there is a management structure to it. This will help in my coursework as I can include
details of this. My contact within the organisation is my dad who works at Avon as an electrician. Task B
Avon's aims and objectives
All businesses have aims they want to achieve. Objectives are what
help

Bus3062
BUS3062
Assignment 1, Week 1
1. Define the terms finance and financial management, and identify the major sub–areas of finance. Finance is the way in
which money is used and handled; especially, the way in which large amounts of money are used and handled by governments
and companies (Merriam–Webster, 2014). Financial Management is the planning, directing, monitoring, organizing, and
controlling of the monetary resources of an organization (Businessdictionary, 2014). The major sub–areas of finance are:
investments–involves methods and techniques for making decisions about what kinds of securities to own; financial
management–deals with a firm's decisions in acquiring and using the cash that is received from investors or from ... Show
more content on Helpwriting.net ...
An advantage are corporate shareholders cannot lose more money than they originally paid for their share of stock. A
disadvantage to being a corporation is that corporations are double–taxed. Federal and state government tax corporate income
once at the corporate level, and then the shareholders pay taxes again at the personal level. Hybrid Organizations promotes the
growth of small businesses. An advantage is that they offer single taxation and limited liability to all owners. A disadvantage is
that the owners bear personal liability for the firm's debt (Cornett, Adair, & Nofsinger, 2014). 3. Define the terms agency
relationship and agency problem, and list the three approaches to minimize the conflict of interest resulting from the agency
problem. Whenever one party hires someone else to work for him or her that is an agency relationship. An agency problem is
when the manager that is hired by the firm to operate the firm spend company money to improve their own lifestyle instead of
earning more profits for shareholders (Cornett, Adair, & Nofsinger, 2014). The first approach is to ignore it, of the amount
of money involved is small enough relative to the firm's cash flow. The second approach is to monitor the manager's actions.
The final approach is to make the manager an owner. Making the manager an equity stake in the firm. 4. "Why is ethical
behavior so important in the field of finance" (Cornett, Adair, & Nofsinger,

Ethics Assignment
Case 1: China's tainted baby milk powder
Q1. Given strong profit growth, has there been any damage to Baidu.com's reputation?
Yes, as we can see it from a whole picture obviously there has been damage to Baidu.com's reputation. Ever since the incident
happened, Baidu.com has been affected by rumors saying that it accepted the screen–out payments to protect a certain number
of milk manufacturing company from online searches about the tainted milk scandal. This has made the company's
information appear unreliable. Even though the case of Baidu.com has not been made clear with lack of evidence, it is easy to
realize that the company being paid off for not disclosing information and by advertisement placements, in a way that paid ...
It would not be taken into account if Baidu.com were a small company with narrow scale, in this case, when the rumor has
gone too far, it is time for Baidu.com to take action or it would be too late. All they need to do is to disclose company's
financial reports to public. By making things transparent, all financial activities will be displayed and the public will see it
themselves if there is any unclean transactions were made. With this action, if the company did not do anything unethical, it
will be the only matter of time that the company would gain back the trust from public.
Q4. Governments throughout the world have been slow to react publicly to serious problems such as SARS, mad cow disease,
and now melamine contamination. Who benefits and who loses because of these delays?
Governmental follow–up has not been speedy ever since the investigation of melamine contamination was revealed. With
these delays, the manufacturing companies that have been exporting milk power would make use of the time lag to clear their
remaining stocks before the rumors go wild. As a result, these companies would not only earn expected profits but also be free
from reputational and financial losses. The only group who suffers from these delays would be the buyers especially direct
consumers. While the government takes a minute longer, we won't know how many more "killing" products would be sold and
consumed, and how many more people would be

Deluxe Corporation
DELUXE CORPORATION
Contents
Section 1: DELUXE Corporation     1.1. 1.2. 1.3. 1.4. Company Business Overview Macro–Evironment & Industry
SWOT Analysis Porter's Five Forces
Section 2: Business & Strategy Risks / Financing Requirements Section 3: Main Objectives of the Financial Policy Section 4:
Financial Flexibility – Cost of Capital
Section 5: Is Deluxe's Current Debt Level Appropriate ?
Section 6: FRICTO Analysis
Section 7: Conclusion – Recommendations
2
Section 1: DELUXE Corporation 1.1. Company Business Overview
Deluxe Corporation (NYSE: DLX) is one of the two largest check printers in the United States, and provides various
personalized products and services to small businesses, financial institutions, and ... Show more content on Helpwriting.net ...
The business trade reaching a maturity, the market seems

Deluxe Corporation: Recommendations for the Company's...
Case #35
Deluxe Corporation
Synopsis and Objectives
In July 2002, an investment banker advising Deluxe Corporation must prepare recommendations for the company's board of
directors regarding the firm's financial policy. Some special considerations are the mix of debt and equity, maintenance of
financial flexibility, and the preservation of an investment–grade bond rating. Complicating the assessment are low growth and
technological obsolescence in the firm's core business. The purpose is to recommend an appropriate financial policy for the
firm and, in support of that recommendation, to show the impact on the firm's cost of capital, financial flexibility (i.e., unused
debt capacity), bond rating, and other considerations.
This ... Show more content on Helpwriting.net ...
4. Using Hudson Bancorp's estimates of the costs of debt and equity in case Exhibit 8, which rating category has the lowest
overall cost of funds? Do you agree with Hudson Bancorp's view that equity investors are indifferent to the increases in
financial risk across the investment–grade debt categories? 5. Is Deluxe's current debt level appropriate? Why or why not? 6.
What should Singh recommend regarding: * the target bond rating * the level of flexibility or reserves * the mix of debt and
equity * any other issues you believe should be brought to the attention of the CEO and the board
Epilogue
On August 5, 2002, Deluxe Corporation announced plans to raise its debt level to $700 million. During a subsequent
conference call with analysts, Deluxe Corporation's chief financial officer (CFO), Douglas Treff, said:
We ... believe Deluxe is underleveraged. We believe our steady cash flows put us in a position to increase our debt level up to
$700 million and still maintain a strong investment–grade rating. The use of debt will lower our overall cost of capital and as a
result increase returns on capital invested. We expect that the debt will be a combination of both long– and short–term
borrowings.
The company also announced a plan to repurchase up to 20% of Deluxe Corporation's stock, or 12 million shares. "At current
prices, we believe the repurchase of

Professor Tsang Essay
BUSL301 – TUTORIAL QUESTIONS 1 (1) Why would you choose to run a business as a partnership? (2). A and B are in
partnership as accountants. Without B's knowledge, A, in the name of the partnership, entered the following transactions,
although he had no express authority to do so: (i) (ii) purchased new office stationery and equipment for the firm. purchased
shares to the value of $15,000 in the partnership name in an exploration company soon to be floated on the ASX. (a) (b)
Discuss the liability of the partnership. Can B be personally liable for either of the transactions? (3) Andy, Bob and Chris were
old school friends. Bob and Chris were running a surf shop together. The business was having financial ... Show more content
on Helpwriting.net ...
Indri becomes desperate and works even harder. While working late into the night, Indri badly lacerates his hand and needs
micro–surgery. His efforts to keep the business afloat are in vain and the company is forced into liquidation. On realization of
the assets, it is found that the company has approximately $95,000 to go towards meeting creditors' claims of $210,000: (i) If
Indri is the only secured creditor, will he get his $90,000 back? (ii) Can Indri claim workers' compensation, assuming that he is
otherwise entitled to it? 3 (1) What is the relationship between the decision in Crabtree–Vickers Pty Ltd v Australian Direct
Mail Advertising and Addressing Co. Pty Ltd (1975) 133 CLR 72 and s.129(3) of the Corporations Act. (2) X is the promoter
of X Pty Ltd, a company to which X proposes to sell some land for high–rise development. (Assume the present zoning of this
land does not permit such development). What would you advise X to do, and why? (3) Ryan signs a lease for a theatre to be
used by Astor Theatre Group Pty Ltd, a company that has not yet been registered. How can the company be bound (and have
rights) under such a lease? Can Ryan avoid personal liability if the lease with the company doesn't proceed? (4) Alan and Bill
are the only shareholders and directors of Sailaway Pty Ltd (Sailaway) which distributes and

Corporate Governance Essay
Corporate Governance
Corporate Governance is the relationship between the shareholders, directors, and management of a company, as defined by
the corporate character, bylaws, formal policies and rule laws. The corporate governance system was designed to help oversee
the decisions and best interest of the shareholders. The system should works accordingly: The shareholders elect directors,
who in turn hire management to make the daily executive decisions on the owner's behalf. The company's board of director's
position is to oversee management and ensure that the shareholders interest is being served. Corporate governance focus is
with promoting enterprise, to improve efficiency, and to address disputes of interest which can force upon ... Show more
Boardrooms are changing. Directors can no longer be passive. They must be alert, accountable and active. The board's
performance has come under more scrutiny. Shareholders, members and staff expect more from their boards.
Individual directors of the corporate governance board should possess all of the
following characteristics:
Integrity and Accountability
Informed Judgment
Financial Literacy
Mature Confidence
High Performance
Passion
The board as a whole should possess the following core competencies, with each
member contributing knowledge, experience and skills in one or more domains.
Accounting and Finance
Business Judgment
Management
Crisis Response
Industry Knowledge
International Markets
Strategy & Vision
Companies are becoming more involved with corporate governance and they are following more strict rules and guidelines.
One major problem is how board members are being elected. Avoid employees for the company seems to be one way to
eliminate poor corporate governance committees. They have to try to keep the chief executive officers from loading the board
with friendly directors that are close to them. The most difficult change will be electing board members. A major

Entry Strategy of H&M
Since H&M opened the first shop in Sweden in 1947, using an American concept of shops selling stylish clothes with low
prices bring H&M successful in the domestic market. H&M started to expand internationally from 1964. Not only Europe
market, H&M also enter in North America, Asia and Middle East market.
H&M became one of the biggest worldwide leading fashion retailers. Until Year 2010, H&M has around 2,000 stores in 37
markets (Data from H&M–US Website). Details of market overview of H&M can be referred to Appendix I.
[pic]
Source: Annual Report of H&M 2009
http://www.hm.com/filearea/corporate/fileobjects/pdf/en/ANNUAL_REPORT_ARCHIVE2009__ITEM_3_1269424409886.pdf
In this part, we will study how H&M enter into United Stated market ... Show more content on Helpwriting.net ...
It can let H&M gather information and avoid some uncertainty.
What is the "Wholly Owned Subsidiary"?
When H&M decided to enter American market, management use wholly owned subsidiary as entry strategy for H&M using.
Why H&M decide to use wholly owned subsidiary to enter into America? It will discuss later.
Wholly owned subsidiary is the operation in a host country that are fully owned by a foreign parent firm. Company can
involve marketing, assembly or full–scale integrated production operation. Also, company is necessary for capital investment
to undertake the ownership option. For this strategy, H&M can own the stock 100 percent and set up a new operation in a
foreign country as Greenfield Venture.
Why H&M choose "Wholly Owned Subsidiary"
One of the advantages of wholly owned subsidiary is that H&M has a free hand to establish the strategy for the subsidiary
including marketing strategy, production, even window design. It enables H&M to keep all the profit from American market
and don't need to share profit with partners.
As H&M mainly take the way of investing directly in the American market, wholly owned subsidiary can make H&M have
tight control over operation which is another advantage. Everything can be under control by H&M from the location of shop,
arrangement inside the shop, range of merchandise. Therefore, the stock in American market can be shared 100% by H&M.
Finally, a

Essay The Boys Versus Corporate
1. Describe the culture for race car drives. Race car drivers of course accept a lot of risk when they compete in a race, and
believe that in order to succeed they must take risks. Some risks include crashes with other vehicles and possible loss of life,
either from crashing their cars into into the other vehicles, inanimate objects, or other people, as with the death of Kevin Ward
Jr. (Daft / People.com)
At the same time, race car drivers receive an adrenaline rush from racing. They receive this rush from the super–fast speeds,
and pushing themselves and their cars to the edge. (Daft)
2. How does NASCAR show social responsibility? Many companies have started focusing on social issues, and NASCAR is
no different. Since ... Show more content on Helpwriting.net ...
(Daft)
4. How can the NASCAR organization, team, and sponsors work through issues of ethics and values to create a unified
culture? Often those who aren't at the front lines don't understand the issues being faced. The corporation must first understand
the safety concerns the drivers face, and validate those concerns as legitimate. That would go a very long way to helping the
drivers feel better about the corporation. Next, the corporation should scale back its qualifying all–cars against the clock
decision. While exciting for the fans, the same action can be felt with fewer cars. The corporation should also find a way to
work with the drivers so they know they are more than just assets to the company; they are actual people and are risking their
lives for the corporation's profit. I think once the relationship is mended between the corporation and the drivers, many of the
other issues will fix themselves.
( Bibliography (
Daft, Richard L. Organizational Theory and Design: 12th edition. South–Western College Publisher. 24 April 2015
"NASCAR Driver Tony Stewart Will Not Face Charges in Deadly Crash". People.com. 24 September 2014. Reprinted from
The Associated Press.

Groupon Essay
GROUPON
Introduction
Groupon is a 'Deal–of–the–day' website that features discounted gift certificates usable at local or national companies that was
launched in November 2008. The first market for Groupon was Chicago, followed soon thereafter by Boston, New York City,
and Toronto. By October 2010 Groupon served more than 150 markets in North America and 100 markets in Europe, Asia and
South America and had over 35 million registered users.
A sum of $1 million was invested to develop the idea and in April 2010, the company was valued at $1.35 billion. According
to a December 2010 report conducted by Groupon's marketing association and reported in Forbes Magazine and the Wall
Street Journal, Group was projecting that the company is ... Show more content on Helpwriting.net ...
Not only will a business have to offer a steep discount for a product or service, but will also have to pay a high commission
structure to Groupon, just for listing the deal.
The theory behind small businesses doing this is, even though they would lose money on the coupons, they believe they can
attract long–term customers. Unfortunately, this theory is wrong. The businesses find customer volume falls off after the deals
are done and they are not much better off than before they offered the coupon. Business owners have no incentive to list deals
through Groupon. In fact, it would end up hurting the business by doing so. So why would a business owner renew a deal on
Groupon?
The company's problem is not related to who is CEO, but it is about the business model. In fact, the next CEO will run into the
very same issues that Mason had. Unless the new CEO can introduce a radical change in the entire business model, it is very
unlikely much can be done to turn the company around. Even with Mason gone, investors will just stay away.
This is a company, which should have thought twice before going public. Eventually the volume of coupons will drastically
fall and no matter how big Groupon's sales force is, it will not be able to stop the bleeding when the coupon issuers do not
benefit. Groupon's best option is to adapt to a stronger business model and not just focus on management change.
Why is the Internet necessary for the company or how can it benefit?
It is

Yes, My Paper
Worksheet on Limited Liability Companies,
Limited Partnerships and Limited Liability Partnerships
Nolo Press is a publisher of numerous self–help law books. It has a web site and publications with information on various
business topics. You can find basic information on a wide variety of legal topics at its online Legal Encyclopedia.
Go to the www.nolo.com website. Scroll down the page, read through the sections and explore some of the links. Then answer
questions 1–3.
1. Is it difficult to form an LLC? What legal requirements must be met to form one?
Forming an LLC seems fairly easy. You must choose a name not already used in Minnesota for your business and have LLC
within the name. Example being, "My Business, LLC." ... Show more content on Helpwriting.net ...
Corporations are taxed as a separate entity.
The words "limited" and "partnership" appear in both the limited partnership and the limited liability partnership. Yet these
two forms of business organizations are distinctly different. Moreover, both of these forms of business organization are
distinctly different. Moreover, both of these forms are also distinctly different from the general partnership. The first URL
given below will take you to an article on the web site of ALLLaw.com titled "The Difference Between a Partnership and a
Limited Partnership." Read through the article and then answer the following questions:
www.alllaw.com www.bizfilings.com 4. How is a general partnership formed? Do any documents need to be filed with a state
agency to create a general partnership? How does the formation of a limited partnership differ from the formation of a general
partnership?
General partnership is formed when at least two people start a business for profit. A "statement of partnership authority" may
be filed at the discretion of the partnership.
In a limited partnership documents must be filed versus a general, they do not. Also, there must be an agreement between
people who engage in a limited partnership. It is also recommended that limited partnerships keep an operating agreement.
5. What are some of the advantages of an LLP?
Each

Sources of Finance
Introduction – Sources of Finance Introduction to the Sources of Finance resource. Sources of Finance Introduction This
resource is designed for use with Accounting courses at A ' level. This resource is relevant to the following: * AQA Module 5,
Section 14.5: 'Types of Business Organisation, Sources of Finance ' * OCR Module 2505, Sections 5.3.2 and 5.6.2 For many
businesses, the issue about where to get funds from for starting up, development and expansion can be crucial for the success
of the business. It is important, therefore, that you understand the various sources of finance open to a business and are able to
assess how appropriate these sources are in relation to the needs of the business. The latter point regarding ... Show more
A good and very public example here is Jamie Oliver, the television chef. Jamie financed his new restaurant, 'Fifteen ', using
fifteen raw recruits to the catering trade and a large amount (£500,000) of his own cash. | Index | Previous | Next | Sources of
Finance Retained Profit This is often a very difficult idea to understand but, in reality, it is very simple. When a business
makes a profit and it does not spend it, it keeps it – and accountants call profits that are kept and not spent retained profits.
That 's all. The retained profit is then available to use within the business to help with buying new machinery, vehicles,
computers and so on or developing the business in any other way. Retained profits are also kept if the owners think that they
may have difficulties in the future so they save them for a rainy day! | Index | Previous | Next | Sources of Finance Working
Capital This is the short–term capital or finance that a business keeps. Working capital is the money used to pay for the
everyday trading activities carried out by the business – stationery needs, staff salaries and wages, rent, energy bills, payments
for supplies and so on. Working capital is defined as: Working capital = current assets – current liabilities Where: current
assets are short term sources of finance such as stocks, debtors and cash – the

Enron’s Stakeholder Impact Case Analysis Essay
Introduction:
Widely known as the champion of the energy industry, Enron is suddenly faced with a corporate crisis in the form of a scandal.
This scandal involves not only Enron's accounting practices but also its corporate governance and culture (Lawrence & Weber,
2008). This report will recommend some potential strategies for Enron to move forward from the scandal. To do this, we must
incorporate stakeholder theory, which "argues that corporations serve a broad public purpose; to create value for society"
(Lawrence & Weber, 2014, p 6.). This means that Enron must take responsibility for the scandal it created and take actions to
regain its stakeholders' confidence. To accomplish this, we will first identify and analyze Enron's primary ... Show more
They could decide not to file lawsuits and continue to support and help rebuild the company. This is not an easy task
considering that the company broke their trust.
Other significant stakeholders that deserve priority are Enron's employees. The employees present threats to Enron in two
ways: they can form coalitions to exercise their legal rights, and they can also leave the company. They will most likely sue the
company as they have lost vast amounts of their retirement savings (Moscoco and Deans, 2002). The urgency in this situation
matters a lot as some employees are reaching their retirement age. When it comes to employees leaving the company, it is
important to note that these employees have the necessary skills and are essential for the business to succeed. Here is where we
see the opportunity. How is Enron going to recover without them? That being said, Enron has to do something to retain its
employees.
Lastly, the third stakeholder is the U.S. government, especially the Securities and Exchange Commission (SEC). The U.S.
government has tremendous legal and political power. They have the ability to sue, penalize, and create special regulations
against Enron. Because the government's interest is to protect the public's interests, it is likely that the government will
sanction Enron for its scandal (Lawrence & Weber, 2014). Nevertheless, we still see a possibility for Enron to pull the

Form 424—General Information (Certificate of Amendment)
Form 424–General Information (Certificate of Amendment)
The attached form is drafted to meet minimal statutory filing requirements pursuant to the relevant code provisions. This form
and the information provided are not substitutes for the advice and services of an attorney and tax specialist.
Commentary Sections 3.051 to 3.056 of the Texas Business Organizations Code (BOC) govern amendments to the certificate
of formation of a Texas filing entity. A filing entity may amend its certificate of formation at any time and in as many respects
as may be desired, as long as the certificate as amended contains only such provisions as could have been included in the
original certificate of formation. Amendments may be adopted to change the ... Show more content on Helpwriting.net ...
Any number of amendments may be submitted to the members and voted on at one meeting. Alternatively, the amendment
may be adopted without a meeting if a written consent, setting forth the action to be taken, is signed by all the members
entitled to vote. (Please refer to chapters 6 and 22 of the BOC for further information.) If the corporation has no members or
no members with voting rights, the amendment is adopted by a majority vote of the board of directors. An officer of the
nonprofit corporation must sign the certificate of amendment. A nonprofit corporation formed for a special purpose under a
statute or code other than the BOC may be required to meet other requirements for a certificate of amendment than those
imposed by the BOC. This form may not comply with the requirements imposed under the special statute or code governing
the special purpose corporation. Please refer to the statute or code governing the special purpose corporation for specific filing
requirements for a certificate of amendment. Cooperative Association Section 251.052 of the BOC sets forth the procedure for
amending the certificate of formation of a cooperative association. The board of directors may propose an amendment to the
certificate of formation by a two–thirds vote of the board members. Notice of the meeting to consider the proposed amendment
must be provided to the members no later than the 31st day before the

Chapter 04 Homework Questions
Name: ________________________ Class: ___________________ Date: __________
ID: A
Chapter 04
True/False
Indicate whether the statement is true or false.
____
1. Section 351 (which permits transfers to controlled corporations to be tax deferred) can be justified under the wherewithal to
pay concept.
____
2. Similar to like–kind exchanges, the receipt of "boot" under § 351 can cause loss to be recognized.
____
3. Tina incorporates her sole proprietorship with assets having a fair market value of $100,000 and an adjusted basis of
$110,000. Even though § 351 applies, Tina may recognize her realized loss of $10,000.
____
4. In a § 351 transfer, a shareholder receives boot of $10,000 but ends up with a realized ... Show more content on
Helpwriting.net ...
____ 21. The bona fide business requirement of § 357(b) is easily satisfied as long as the liability arose in the normal course of
conducting the business that is incorporated.
____ 22. When incorporating her sole proprietorship, Samantha transfers all of its assets and liabilities. Included in the
$30,000 of liabilities assumed by the corporation is $500 that relates to a personal expenditure. Under these circumstances, the
entire $30,000 will be treated as boot.
____ 23. In determining whether § 357(c) applies, assess whether the liabilities involved exceed the bases of all assets a
shareholder transfers to the corporation.
____ 24. A taxpayer transfers assets and liabilities to a corporation in return for its stock. If the liabilities exceed the basis of
the assets transferred, the taxpayer will recognize gain to avoid having a negative basis in the stock.
____ 25. If both §§ 357(b) and (c) apply to the same transfer (i.e., the liability is not supported by a bona fide business purpose
and also exceeds the basis of the properties transferred), § 357(c) predominates.
____ 26. When a taxpayer transfers property subject to a mortgage to a controlled corporation in an exchange qualifying under
§ 351, the transferor shareholder's basis in stock received in the transferee corporation is increased by the amount of the
mortgage on the property.
____ 27. In a § 351 transaction, Gerald transfers equipment worth $85,000 (basis of $120,000) in

Extend Fertility Case Study
EXTEND FERTILITY CASE STUDY
AD740 Planning and Opening New Ventures
Professor: Steve Leybourne
LIANG SHI
02/29/2016
Opportunity
Christy chose this industry from listening to her inner voice and needs. She devoted herself to her career and passed the peak
time of fertility. She was trying to find a way to balance having a career and a family. Reading of Hewlett's book and
discussion with Christy's friends about fertility treatment inspired Christy brought her interest in digging in the fertility
industry. At that time, some medical research center started to offer freezing egg services to cancer patient before
chemotherapy. Christy thought this technology could benefit professional women who often delay on serious relationships, ...
Extend Fertility offered storage services to their clients by partnering with a secure cryopreservation facility. Also, the
company promoted its business by educating potential customers via its programs and activities. Extend Fertility generate
profit from egg freezing product, license, and consumers service fee and payment from fertility clinics. The company collected
ongoing storage fee and about 40% of the total cost of the procedure. The rest of money would split between medical clinics
and pharmaceutical. Christy expected 80% gross margin on the services provided by the company.
The business plan with such high gross margin seems quite favorable. However, the company's concept has some potential
problems. The company did not mention how to minimize the risk of hurting women's health when they proceeded to collect
their eggs. Furthermore, the business plan did not include the best use time of the storage eggs. If the eggs were expected to
keep in years, the quality of eggs could not be ensured. Finally, they did not offer a strong report to state the potential issues of
using freezing eggs. Would the technique influence the health of babies?
Competitors
The competitors were the local fertility clinics. The largest clinic had eight doctors and took 5% market shares. Some of the
clinics were able to similar services to Extend Fertility but were at the disadvantage to the company. The firm was the only one
got FDA proved

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