Mo Money, Mo Greed & Corruption Essay -- Economics Finance Papers Fi

Mo' Money, Mo' Greed & Corruption The American dream: a spouse, a few children, a lucrative job, a nice home, and of course, some material luxuries. Those who are able to realize this goal have my respect and they should be proud of their accomplishments. However, my beef arises with the very few Americans who greatly surpass this dream. Yes, I mean the multi-millionaires and billionaires of America. The wealthiest one percent of our nation owns half the financial assets and 38 percent of the total wealth. They have more money than the bottom 90 percent combined. The next richest nine percent also have more money than the bottom 90 percent combined. These people are so filthy rich they can literally burn hundred dollar bills and laugh about it. But that's not why I'm upset; that's merely capitalism at work. Capitalism is important because it provides a framework for people to aspire for more. But the downside is that an entirely different class is produced. Although small in numbers, this class of people has an infinite amount of power. I get really upset when I see these people, who are already beyond the definition of rich, committing fraud or perpetuating unfair political policies that keep them and their friends so wealthy. This extreme greed and corruption are the targets of my attack. I interned with Merrill Lynch and Smith Barney/Citigroup over the summer and I soon plan to begin my full-time career on Wall Street as well. When I started reading the Wall Street Journal last spring, I began to notice that every day's headlines included a scandal of some sort. Most people have heard of Enron, a company that inflated financial reports consistently until the "bubble" collapsed, revealing the truth and sending the c... ...al to make sure they stay ahead of the game. This is exactly where my problem arises. While they’re â€Å"playing† this game, millions of Americans are living in poverty. Many people even live on the streets, trying to survive until their next meal. Some rich people have done extraordinary things with their money through philanthropy and charity. I wish that every wealthy American would follow this same path of giving. I would like for this selfish â€Å"game† to finally end. Will it happen anytime soon? I know that it won’t. But I do have the power to control my own actions. I have set high goals for myself with my career and in my life. Coming from a disadvantaged background I know that I will better appreciate whatever wealth I attain. Whether or not I make it to the top one percentile, I am certain that I will never forget the struggles that millions of Americans endure.

Advantage and disadvantage of Budgeting

â€Å"Budgeting is ok in a certain environments but everything changes so quickly that budgeting is a waste of time. It provides no useful purpose and is purely an academic exercise†.â€Å"Traditional budgeting wastes time, distorts decisions, and turns honest managers into schemers. It does not have to be that way- if you are willing to sever the ties between budgets and compensation†.While discussing and making an evaluation of these statements, understanding of advantages and disadvantages of corporate budgeting is very important.This understanding is followed by the perceptive of Budget, its need and its pros and cons (advantage/disadvantage). In such term, raised questions are respectively ‘what is budget’, ‘why budget’ and ‘objective of budget’. (www.tuliptrees.com)Critical Discussion of the StatementWhat is Budget?Budget is taken as the most fundamental and the most effective financial management tool available. Nevertheless , it is an absolute time taking activity if performed correctly. It is also considered as an arduous work. But budgeting is important and beneficial†¦there are many reasons that make budgeting a good deal. (www.tuliptrees.com ) (Journal of Performance Management, 2005 by Nolan, Gregory J)Why Budget?Budget plays a very important role in planning, control and evaluation of operations. It provides a vehicle for translating programs in financial resource programs. (www.awesomelife.com )Advantages of Corporate BudgetingPlanning- It forces organization to plan to the fore and analytically anticipate the future.Maximum managers deal with a very eventful schedule and tough official activities.This prone those to avoid formalized planning unless budgeting is part of their job. If a formal plan of attack is created, it allows managers or individuals to focus on problems before they actually occur. Daily operating interruptions are therefore decreased, due to knowledge of possible problem s; they generally initiate corrective actions, rather than imprudent solutions. (Journal of Performance Management,   2005   by Nolan, Gregory J)Organizing- A proper budgeting places   economic and human resources in the most financially rewarding areas and making managers aware of any scarcity of resources.Controlling- It examines variances from conventional targets (i.e. differences between actual and budgeted) and takes counteractive actions. Actual presentation can be compared against budgeted amounts, giving managers an insight whether operations are meeting expectations or not.If scarcities arise, corrective actions can be implemented to bring the operation back on target. Specific areas can be identified and investigated. (www.methodist.com, www.awesomelife.com )Coordinating- a proper budgeting is very useful in formal harmonization, as it helps system managers of different functions to operate in various directions and to work for the profit of the company.If everybody concerned sticks to the formal plan adopted by a budget, they become aware of where the enterprise is heading and ensures that it stays on track. In a large company, operations are normally divided into different departments and under the accountability of different managers.To attain overall objectives, close coordination of activities is a necessity. The problems that could arise from a lack of coordination are massive. (Budget Basics)When a budget for the overall organization is in place, every department knows where they fit into the overall plan and can be expected to work towards it. Thus budget brings a harmony, which is very important for the growth of any company. (Management Accounting Summer   By David E Stout,   summer2008)Communicating – Budget helps in exchanging information concerning goals, ideas, and achievements. It also grows necessary interaction and develops an awareness of how each of their activities contributes to the firm's overall operation. (Bu dget Basics)Motivating – Corporate budgeting acts as a catalyst for managers of the enterprises and motivates them to work hard. It also helps in maintaining an enthusiastic attitude among them towards their jobs. It can be achieved by realistic goals and the thrill it gives when such goals are met or achieved. (Management Accounting Summer By David E Stout, summer2008)Budgeting PlansThe book ‘Budgeting Basics and Beyond’ says that budgets are prepared in two term plans. One is short term plan is another is called long term plan. (Budgeting Basics and Beyond by Jae K. Shim, Joel G. Siegel, pp27,28,29)Short term plan- these plans are typically one year plan. Nevertheless, few plans are for two years and few are just week or month long plans. These plans examine cash flow, expected earning and other expenditures. These plans basically rely on internal information and tactical objectives. Structures of such budget plans are predictable, fixed and persistently determ inable.These are based on strategic plans and concerned with existing markets and products. Short term budget area covers – product, service, department, territory, division, project and functions. These are usually expressed on a departmental basis. (Budgeting Basics and Beyond by Jae K. Shim, Joel G. Siegel, pp27, 28, 29)It includes sales, manufacturing, marketing, management, research and consolidation plans. Short term planning generally involves lower grade managers in providing inputs. In making of such budget plans, the line manger supervises and includes data in the making of long term budget planning. (Budgeting Basics and Beyond By Jae K. Shim, Joel G. Siegel, pp27, 28, 29)Long Term Planning- This is normally of a broad, tactical nature to accomplish objectives. This plan is usually five to ten years long (even more in few cases) and looks forward for the futuristic up-gradation of the company.This considers economical, political and industrial conditions too. These are formulated by upper management of the organization. They deal with products, markets, services and operation. Long term planning boosts sales, profitability, return on investment and growth of the organization.These plans need constant revision for the input of new information. It covers all major areas of business including manufacturing, marketing, finance, engineering, law, accounting, and personnel. Planning for such areas should be matched into a wide-ranging plan to achieve corporate objectives. (Budgeting Basics and Beyond By Jae K. Shim, Joel G. Siegel, pp27, 28, 29)This is taken as a combination of operating and development plans. This plan should specify ‘whet is the need’, ‘who needs it’ and ‘when it is needed’. Its responsibility should be assigned to segments.Goal of long term planning includes market share, new business areas, new distributive channels, cost reduction, capital maintenance, and risks of cost reduction.Features of a good long term planning include flexibility, motivation, measurability and compatibility. These planning’s are intended for growth of the organization, product development, plant expansion and financing. (Budgeting Basics and Beyond By Jae K. Shim, Joel G. Siegel, pp 27, 28, 29)Long term budget planning is believed to be details of accomplishments of strategic plans. It incorporates evaluating alternatives, developing financial information, analyzing activities, allocating resources, manpower planning, finance analysis and production planning.Time period for a long term plan depends on the time required for the product development, life cycle of the product and construction of capital facilities. Long term planning offers more alternatives in the comparison of short term planning.It is more effective when there is greater uncertainty in economy and business environment. Nevertheless, planning of short term budget is easier than long term budget, as a long term budget de als with greater uncertainties. (Budgeting Basics and Beyond By Jae K. Shim, Joel G. Siegel, pp27, 28, 29)

Analysis Of The Play Death Of A Salesman - 1041 Words

Research paper for â€Å"Death of a Salesman† In the play â€Å"death of a salesman† by author miller, the dramatist focuses on the theme of â€Å"the American dream†. Lowman, a botched salesman, is the protagonist of the play. Willy is certain that society only has room for winners. In support of this, the play’s theme demonstrates how a victim of â€Å"the American dream† can be destroyed by fabricated promises that will impact not only â€Å"business life but will conflict with personal relationships as well† (Elwell 1).The significance of this theme is still very relevant to many societies today. Therefore, Miller based his play off on his life through the way he suffered and conquered, on his family conflicts, and dreams of success. An insight into miller’s background will afford a variety of his life and accomplishments. Miller was the second child of Isidore and Augusta Miller. â€Å"Arthur Asher Miller was born 17 October 1915 in Manhattan† (clifnotes1). Both of miller’s parents were Jewish immigrants from Poland. Miller’s father, Isidoer, did his greatest to achieve the American dream and possessed a clothing company. â€Å"In October 1929, just a few weeks after Arthur s fourteenth birthday, the stock market crashed† (Thou 1). Having capitalized nearly all his money in the market, the miller’s family had lost their wealth. Furthermore, â€Å"He (miller) graduated from Abraham Lincoln High School in 1932† (Matur 310). After graduating from high school, Miller worked in a warehouse while attending nightShow MoreRelatedAnalysis Of The Play Death Of A Salesman 954 Words   |  4 Pages Darrian Dowden AP English IV Death of a Salesman Written Assignment Death of a Salesman Character Analysis 1.Willy Loman. Although the main protagonist of the play, Willy Loman does not come to a certain self-realization. Searching and sifting through his memories (which cannot be completely taken as the truth as he reinvents them in a way to make them out as a golden era) he fails to recognize his slanted reality he’s lived in made up of his delusions. His forged relationship withRead MoreAnalysis Of The Play Death Of A Salesman Essay1739 Words   |  7 PagesTheatrical writing is no exception. In the play Death of a Salesman the protagonist is not necessarily the main character. The protagonist in this play is the main character’s son Biff. However, in the play Cat on a Hot Tin Roof it is harder to determine if the protagonist is Brick or Maggie, but I believe Brick is the main protagonist. In the play Dutchman it is quite the opposite and the protagonist, Clay, is very clearly emphasized. 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Willy is a sixty-year-old salesman living in Brooklyn New York with his wife Linda and after thirty-five years working as a traveling salesman he feels defeated by his lack of success and difficult family life. As a salesman, Willy Loman focuses more on personality and being well liked by everyone than actual skills. When he returns early from a business trip it is apparentRead MoreDeath Of A Salesman Tragedy Essay1365 Words   |  6 PagesDeath of a Salesman is a tragic play written in 1949 by Arthur Miller. The story is about a salesman who lost his identity after having an affair with another woman and can’t seem to accept the changes in his life since the event. The story has been performed in theaters and shown on film for many years. Lee Siegel, a writer for The Nation explains the role of Death of a Salesman in the entertainment industry: Every ten years or so, Death of a Salesman is revived, and every ten years we get theRead MoreComparing Death of a Salesman by Arthur Miller and Fences by August Wilson 1403 Words   |  6 PagesFences written by August Wilson and Death of a Salesman written by Arthur Miller are two plays that could be considered very different in terms of their plot. The plots of both plays contain two very different cultural backgrounds which affects each protagonist differently. If the reader or audience looks past the plot into the theme and symbolisms used they can see that the plays are more similar than they are different. In spite of the different cultural backgrounds of each protagonist they bothRead More Death of a Salesman is a Tragedy as Defined in Millers Tragedy and the Common Man1046 Words   |  5 PagesDeath of a Salesman is a Tragedy as Defined in Millers Tragedy and the Common Man In Tragedy and the Common Man, Arthur Miller discusses his definition and criteria for tragedy as they apply to the common man. The criteria and standards proposed by Miller may be used to evaluate his timeless work, Death of A Salesman. The first major standard of tragedy set forth is:   â€Å"...if the exaltation of tragic action were truly a property of the high-bred character alone, it is inconceivable thatRead MoreWilly Loman, the Modern Hero in Arthur Millers Death of a Salesman1739 Words   |  7 Pagesheroes, otherwise known as the protagonists, illustrated by tragic Greek playwrights, were never normal people. All heroes were citizens of high class, such as princes. 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