Principles of Corporate Finance Essay Example | Topics and Well Written Essays - 3250 words

Principles of Corporate Finance - Essay Example For example, the year 2008 witnessed a global financial crisis, which had a significant impact on the cash flows of firms that depend on banks for funding. Even if Timbercorp may not have been directly affected, it may have indirectly been affected by a reduction in demand for its products on a global scale as consumers find it difficult meeting up with payments. Secondly, the economic environment is constantly changing. Interest rates and exchange rates continue to change and this has an effect on Timbercorp’s financing and investment decisions. As earlier mentioned, the company is a leading participant in the agribusiness sector through the food and fiber industries and the land and water rights and infrastructure associated with these industries. The sector provides a lot of opportunities and threats. As far as opportunities are concerned, the agribusiness sector remains a crucial part of the global economy and it is estimated to be worth approximately US$5trillion. In addi tion to its importance for delivering food security, it also encompasses half of the world’s labor force and assets as well as 40% of consumer purchases. Global population is expected to grow to approximately 8.3billion by the year 2030. These developments will help boost demand for Timbercorp’s products. The company anticipates a 60% rise in the demand for food and fiber products by 2030. However, there are also challenges for the company. For example, the amount of arable land is declining and these may adversely affect the company’s ability to meet rising demand for its products. Other challenges facing the company include rising operational costs, limitations on the access of water resources, as well as rising oil and gas prices.  The company reports that high oil and gas prices had a material adverse impact on harvesting and transportation costs as well as on the costs of fertilizers.  

Able Corporation Essay Example | Topics and Well Written Essays - 1250 words

Able Corporation - Essay Example Strategy choice and implementation are the primary determinants of strategy success. The analysis of strategy performance over time provides important diagnostic inputs into the development of strategy choice concepts. The early discussion highlights the importance of matching the strategy choice with the conditions of the environment and the organization's skills and resources. The long-term importance of selecting a sound initial strategy has research support. In order to define the identity of Able Corporation, it is important to take into account the nature of business and market strategies. Research suggests marketing strategy should be conceptualized and investigated within the context of the organizational mission. Most marketing strategy frameworks address the role of organizational mission but few empirical investigations actually take mission into account. Perception of market needs does not mean that an opportunity exists for any particular company (Fill, 1999). Available opportunities must be related to the particular company's resources, including its personnel, financial, and physical resources. Profitable courses of action vary with individual corporate postures and goals. The overwhelming majority of innovative opportunities will be rejected. But it is necessary to screen the many to find the few that do relate to the resources and the mission of the company (Johnson and Scholes, 1998). This function of innovation relates to specifying the company's innovative opportunity by identifying the various practical alternatives that exist to remedy the discovered dysfunctioning. This is a job in which the technician can assume a major responsibility. An analysis of total company operations and methods in the light of market opportunities is helpful in sifting the opportunities to arrive at the few that are most relevant and profitable for the company's current situation (Doyle and Stern, 2006). Because of different organizational goals and missions, each organizational type defines a unique strategic situation. The first group was labeled "mom and pop shops." These firms are extremely small and possess little marketing expertise or resources. The second group are stable, high-payoff companies. These enterprises have achieved some success and may have acquired substantial marketing expertise within a limited market. Such firms have no aspirations for future growth. A third group is composed of growth-oriented small firms. These are new ventures with a mission defined by aggressive growth (Johnson and Scholes, 1998). In order to prioritize the implementation steps, it is important to analyze a current market situation and take into account possible changes and market fluctuations. The extent to which a marketing strategy should be modified over time is an important strategy choice issue. Successful enterprises select and retain a strategy on a continuing basis. This issue has critical implications for the new enterprise, particularly when entering a new product-market where the lack of experience in the market provides little or no direction concerning strategy choice. Entrepreneurship research also provides insight into two important marketing strategy options: strategic alliances and product diversification. Small firms are also utilizing collaborative marketing strategies. In an empirical study of entrepreneurial high-technology firms, small firms at a competitive disadvantage with rivals in their industry were likely to utilize joint ventures or other cooperative strategies to launch new prod ucts (Doyle and Stern,

Properties, plant, and equipment in accounting theory Essay

Properties, plant, and equipment in accounting theory - Essay Example 2) Group costing (recording the cost as 800,000 for all the equipment together) affects the costing of the equipment in two ways. First, it is challenging to depreciate the items because they have different depreciation rates (Liapis & Christodoulopoulou, 2011). However, this risk may be eliminated in case their depreciation rate is the same. Second, it creates a reporting and cost allocation challenge, as the cost accountant cannot allocate costs effectively with group costing. Operational costs on the assets become hard to allocate. However, costing the items independently (single costing) will facilitate reporting because some of the equipment should be capitalized (fixed assets) while some would be expensed (inventory). 3) Group costing reduces the profit of the business. First, it increases the depreciation expense, which has a negative effect on the profit of the business. Group costing also eliminates gain on sale of the expenses assets (Herrmann, Thomas & Saudagaran, 2011). Introduction of unwarranted depreciation also affects the value of the assets as it lowers the item values in the end. However, single costing does not affect the value of the assets and maintains the profit of the business high, as the gains on sale are included in sales while the depreciation expense is removed. 4) The first problem imminent from the transaction is the possibility of double costing. In case the items are recorded as lump sum amount means that in case some of them are sold, they may be recorded again in sales without expensing them creating a double accounting problem (Weiss, 2012). Depreciation problem may also arise from the transactions. An accountant will find challenges in treatment of depreciation for the difference between the market value and purchase price. From the transaction, taxation challenges can also arise. When the transaction is taxed, the amount to be taxed may challenge the accountant. The

Heroin Essay Example for Free

Heroin Essay Heroin is a highly addictive analgesic drug. Heroin, which is a popular choice of drug in America, is not a new drug that magically popped up in the late 1960’s. In the mid 1800’s opium was a popular drug. Opium was brought to the country by Chinese immigrants who came here to work on railroads. In the old west alcoholism as a big problem and opium was promoted as a cure for alcoholism. Before it was illegal opium was developed as a pain killer in 1810. â€Å"It was considered a wonder drug because it eliminated severe pain associated with medical operations or traumatic injuries†. Heroin became popular in 1930’s and 1940s and then through the Beatnik subculture of the 1950s. During this period the major supply of heroin entering the U. S. Heinrichr Drese, a German physician, discovered heroin in 1895. He mixed acetyls with morphine, and thus, heroin was created. â€Å"Heroine is made in several different ways but they all come back to a single base- Morphine. Morphine comes from Opium, the resinous substance found inside the fruit of the opium poppy. Once the opium is harvested, its three main alkaloids (alkaloids are basically a biochemical found in plants) are separated into:Morphine, Codeine, Thebaine. Morphine and Codeine are the only two alkaloids which can be converted into Heroin. Thebaine is the base for bupenephrine which is a very strong narcotic pharmacologically and is mostly used in the treatment of opiate/opiod addiction. † Heroin has several different kinds of appearances. The purest heroin is a white powder but unlike cocaine it does not have a crystalline structure visible to the human eye; it looks more like powdered milk. The most commonly heroin in the U. S. is brown heroin. The lowest grade of heroin is Tar. It’s called Tar heroin because it looks like black tar. Usually a powder containing heroin (diacetylmorphine) hydrochloride and some kind of filler. This can be snorted or injected, sometimes it is heated on foil to create vapors to inhale, rarely it is eaten. Black tar or tar heroin is a less refined form of heroin hydrochloride that is sticky like opium. You can smoke heroin or inject it subcutanously (under the skin) or intravenously (into a vein). r ingest it (sniff it) or go out on a limb simply eat it (lessened effects). Heroin effects the central nervous system by depressing it. Heroin depresses nerve transmission in sensory pathways of the spinal cord and brain that signal pain. This explains why heroin is such an effective pain killer. Heroin also inhibits brain centers controlling coughing, and breathing. â€Å"First-time or infrequent users often experience nausea and vomiting after injecting heroin intravenously. † a heroin addict experiences a physical addiction to the drug. The addict needs to continue taking it to ward off withdrawal symptoms, including dysphoria (a combination of anxiety, depression and feeling restless), insomnia, muscle aches and diarrhea . Heroin affects our society because It causes first time users to become addicts, also it troubles/interfere with the nervous system. The Gender that uses heroin the most are males and the race that uses it the most are Hispanics. Heroin affects the central nervous system by depressing it. Heroin depresses nerve transmission in sensory pathways of the spinal cord and brain that signal pain. This explains why heroin is such an effective pain killer. Heroin also inhibits brain centers controlling coughing, and breathing. Shortly after using, a feeling of euphoria will come over users, in which they have a warm flushing of the skin, a dry mouth and the feeling of having heavy arms and legs. After the initial rush, users will go into an alternately wakeful and drowsy state sometimes called on the nod. Because heroin suppresses the central nervous system, the user experiences cloudy mental function. Users will begin to breathe at a slower rate and their breathing can reach a point of respiratory failure. Physical ways heroin can affect you: It slows down your heart beat breathing rate. The depth of your breathing becomes shallower. It slows down the movement in the Gastro-intestinal tract causing, Nausea vomiting, Constipation, Dry sticky mouth, Heroin decreases muscle tone strength resulting in, Slurred speech Sluggish movements, Delayed reactions response, a heavy sensation in arms legs, Lack of energy coordination. Heroin can affect you mentally by: Heroin causes confusion clouds your thought processes, You make irrational decisions. It alters your perception of reality, Emotional growth becomes arrested, It suppresses emotions, Heroin causes depression and lack of motivation, It gives you a false sense of detachment from reality the pain it may cause, You have a false sense of ‘normality’  Heroin can cause permanent brain damage involving: Learning short term memory, Emotional growth maturity, Decision making problem solving, Speech. The affects if heroin is used regularly: You develop a greater tolerance to all opiates , You become physically mentally dependent on heroin (or addicted) , Chemical imbalances in the brain affect your moods emotions, A depletion in the production of brain endorphin levels makes you depressed,Your body stops producing its own naturally occurring endorphins

Contracts :: GCSE Business Marketing Coursework

Contracts Lump Sum Contract A defined lump sum plan expresses employees' pension benefits as a lump sum amount, which makes it easy for them to understand and appreciate the benefits. In many cases, the plans also allow employees to accrue larger benefits at younger ages than they would under a traditional pension plan. And, increasingly, defined lump sum plans provide "portable" benefits that employees can take with them if they leave the company before retirement age. Cost plus percentage contract: Cost-plus construction contracts are often used for projects in which an owner or developer wishes to retain flexibility in selecting construction materials or modifying the design during construction. Unless specifically described in the contract, the contractor and the owner/developer may have a different perception of what types of costs are reimbursable to the contractor. The cost-plus contract should include a section defining all of the types of costs that are reimbursable by the owner/developer, and most standard form contracts include such provisions. Cost plus fixed fee contract: A cost-plus-fixed-fee contract is a cost-reimbursement contract that provides for payment to the contractor of a negotiated fee that is fixed at the inception of the contract. The fixed fee does not vary with actual cost, but may be adjusted as a result of changes in the work to be performed under the contract. This contract type permits contracting for efforts that might otherwise present too great a risk to contractors, but it provides the contractor only a minimum incentive to control costs. Design and build contract, also known as "package deal" and 'turnkey" contracts Turnkey drilling services offer a viable method for operators to better man age drilling risks and reduce costs. In the future, they may be able to utilize drilling management contractor services for complete field development programs. The offshore turnkey drilling industry remained a high-margin, low-volume business until about 1993 when turnkey drillers began to realize bidding prices were not competitive with most operators' internal cost estimates. Increasing market share could only be achieved by reducing margins to match the real competition, which is the operator's AFE (authority for expenditure). Since then, the number of offshore turnkey wells has increased almost every year. However, the future of the offshore drilling management services industry involves moving beyond merely providing a well or a completion for a fixed price.

Comparison of Roman and American slavery Essay

Slavery is one of the most common entities between the Roman’s society and the Western society in the late 1800’s. Both civilizations have many differences and similarities between their views on slavery, treatments of the slaves, and economics of slavery. Such similarities include the imprisonment of slaves, the cruel treatments towards slaves, and the legal status of slaves as their owner’s property. However, despite the many differences, slavery between polar societies always has its differences. These differences include the rights of the slaves, the slave’s origins, and the payment of the slaves. Through the comparison of slavery present in Western society of the later 1800’s and Roman society, several astonishing similarities and differences become apparent, especially when considering the movie, â€Å"Sparticus†. The astonishing amount of similarities between the slavery in Roman society and the slavery in Western society show the great importance of slavery to one’s populace. In both society’s, the slave was the basic unit of society, for all of the agricultural market rested upon their shoulders. Just as cotton was the staple crop of the United States, wheat was the fundamental crop in Roman society, both of which are cultivated by slaves. In both societies, owning a multitude of slaves showed one’s social status, for if one owned numerous slaves, then they were considered wealthy. Additionally, the lower class looked down upon the slaves as lower individuals than themselves, treating them like animals through their constant beatings and tiresome work. This work that the slaves had to endure was similar in both societies, for they similarly had to work in the fields for long hours. A child born of a slave woman was a slave (the legal status of his father being irrelevant) and the property of the slave woman’s owner. Ultimately, the Roman and Western society’s views and actions upon slaves were the same in several ways, yet there will always be differences between the two. The differences between the Roman and Western treatment and thoughts about slavery seem to be even more immense than the similarities, but you must keep in mind that the two society’s thrived in completely different ages  with different circumstances. In Roman society, the slaves were all prisoners of war from various countries and races not just one race like the Western slavery. In United States, the slavery consisted of almost all Africa-American captives who didn’t have any interference with their society before they were beginning to be imprisoned. Another difference is the ability for the Roman slaves to rebel with a large force, while the American slaves only tried to run away. The Roman slaves created large slave armies, while the American slaves only created the secret underground railroad. Just as the Romans gather together large quantities of slaves to create an army, Sparticus similarly was one of Rome’s great heroes who shows the similarities and d ifferences between Roman and Western slavery. In the movie, â€Å"Sparticus†, there are several events which allow the viewer to compare Roman slavery to that of Western slavery. In the movie, the slaves were paid small sums of money for their efforts, as seen when they are able to buy the several fleets of ships. However, in Western slavery, the slaves were seldom paid, because they were considered property of their owner. Furthermore, Roman slaves were trained in specific arts and crafts, such as the slave who Sparticus met that was a singer and magician. In Western society, on the other hand, the slaves mostly just cooked the meals and worked in the fields. However, the similarity between the two society’s includes the abuse felt by the slaves. In the movie, Sparticus was constantly hit with the wooden paddle and made to fight as a gladiator, just as the American slaves were whipped and hung by their white masters. The movie, â€Å"Sparticus†, is an excellent example of the treatment and views of slavery in Roman society, all of which can be compared and contrasted to American slavery. There are several similarities and differences between the slavery present in Roman society and Western society. Just some of the similarities include the society’s views on slavery, the treatments of the slaves, and economics of slavery. Several more differences arise, on the other hand, because of the vast time and cultural differences between these two civilizations. These differences include the rights of the slaves, the slave’s origins, and the payment of the slaves. Through the comparison of slavery present in Roman  society and American society, several intriguing similarities and differences become apparent, especially when considering the movie, â€Å"Sparticus†.

History of nonprofit organizations Essay

The history of the nonprofit organizations in the US is dated back to the mid of 19th century. They came as important tools to look after the effects of the slavery activity. Generally, a non-profit organization is an organization with a legal constitution whose creation is by private people/persons or elsewhere organizations without any fundamental representation within the government activity. At the epochs of globalization effect in early 20th century, the subject matter of nonprofit organization became yet a more featured activity. This was at the realization that the central government could not serve to solve most of the people’s problems. Even the existing national and international organizations had their roots to serve the interest of capitalists more than the general human population. To strike a counterbalance to this irrationality, development of these organizations was biased in fostering development, providing humanitarian support and aiding in development sustainability. Their development came inform of various types with interest in different areas of humanity. Depending on the purpose and role to serve and play in the society, development of these organizations is fundamentally made to provide an environment for support into different spheres of humanity. At one view, they engage in designing and implementing projects which are related on development. This provides the conventional understanding of them in providing development support to the community. Their classification within US is in terms of development oriented, international, community based or even national organizations. Their purposes are different and mainly depend on the kind of service they provide to the society.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Nonprofit organizations in the US can as a refuge to the long suffering of human beings at different levels. They came to bridge the gap of inefficiency which was provided by the political and governmental structures within the US governance system. Their basic aim is to provide various conditions which are solemn to providing various support structure to improve the human population. Their method of activity is also diverse coming in form of lobby groups, initiative programs above community-based activities for service to the people. The basic rule with all non-profit organization in US and the general world is that they are strictly not made to make profit benefits in their foundations. They should service the interest of the community in line with their activity to ensure high standards of service output. The nonprofit and non-benefit nature of these organizations is provided by the legal structure of the Federal Legal system which recognizes their presence and roles before instituting various legal parameters. At the individual/internal capacity, they are guided by various legal autonomies within  Ã‚   constitutional framework that embody their activity. They are free from the authorities of international laws. (Hall, 22)   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Generally, their role and purpose is diverse and depends on the basic purpose for their formation. However, the basic purpose is to provide service to humanity by confronting various issues that affect the human population. Either, their development is only made to serve the interest of a specific population of the people in which they are instituted. In the US, nonprofit organizations come in a huge number making more than 600, 000. In regard to their functional outlay, they are instituted for environmental conservation, human rights encouragement and observance, taking care and improving the inequalities within the disadvantaged societal population, or even having an agenda on corporate representation to the society. They rise as corporations to provide refuge to the human population by acting on provision of the basic inequalities allied to the society. They aim at providing structures that provide support in the well-being of the society. It seeks to provide autonomy in the observation of well-founded societal image before driving the society to attainment of its mission. Key guiding principles.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Due to the diversity of culture and operations by these organizations, some principles help as guide for their activity. At one point, the principles provide rationality in the support of equality in the basic corporate governances which help to ensure observation of the conventional purpose allied to their formation. Firstly, all non profit organizations are to be guided by the principle of optimal costing. This is in the realization of their nonprofit nature which provides support for the most adequate costing system. Costing is observable in the budgeting systems which help to provide a support for the best cost parameter.   Budgeting involve the control of funds to ensure the most adequate use of their financial authorities. Costing principle is guided by their non-profit/benefit nature which prevents any financial advantage in terms of profit or benefits to any party. The Federal Law recognizes the importance of costing principle in these organizations before instituting various laws and regulations to guide them in their support for the most optimal interest to the community in service.   This principle is fundamentally obliged in internalizing the cost parameters in the organizations financial outlay in terms of their grants, cost of contracts, financial utilization and allocation and any other fundamental activity allied to the costing system. The aim of the principle is to provide a concrete share of the cost liberation by federal government in the administration process of the non-profit organizations within its framework. Either, the principles help to define in the standards of approach and use in providing structures for adequacy in the financial management and quotations of their costs in activities and processes.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Either, all non-governmental organizations are to be guided by adequate public relations standards. With their role and activity outlay within the society, these organizations should always provide structures for standard relationships with the general public population. This is a basic factor if their role of meeting the societal goals is not to be compromised. Public relations are the basic tools with which various organizations such as charity organizations and foundations use to capture the relative interest of the general public. Through sophistication in the public relations activities, many organizations are able to raise their funds. They use various lobbying techniques to seek financing from the government and other statutory sources. Either, high public relations to interest groups help to provide importance of benefits with their fundamental influences to the social systems and political standards. Either, their public relations support helps to campaign adequately among the human population to achieve their basic missions and goals. (Dimagio, Anheir, 152)   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   With the diversity in the activities and mission statement, all non-profit organizations are provided with support by high standards of monitoring process and control of activities. Controlling and monitoring is a basic principle which helps to ensure a coordinated approach in all their activities. All activities and processes are controlled and monitored in order to ensure a support of the basic activity and fulfillment of their service to the general public. This principle provides an oversight into the basic fundamentals that help to ensure a logical collaboration between the various structures of the organization. At one point, controlling and also monitoring seeks to provide accountability for the character and effect of the process and activities. It seems to provide a sanction of coordinated approach with which activities are done according to their optimal requirement.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Non profit organization are free from jurisdiction and control by the federal government unless of very explicit legal controls. As a basic and conventional principle, these organizations are supposed to be out of the federal legal system. The guiding force and regulations should be based on the specific standards and requirements of specific organization. This is by conventional due to the role played by the organizations as a bridge towards the rigidities found in the federal legal system. Either, they should not be allied to the international legal process. The principle of free government control should therefore prevail. Otherwise, any interaction and control by he federal government would betray their mission since majority are founded as lobby groups to act against the federal system legal inequalities.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   As an ethical parameter, the funding process and activities should fundamentally be authentic. This should seek to provide an atmosphere for the most adequate income flow. The funding principle is a subject of the costing principle with which the size and scale of funding is to be determined and evaluated in a conventional costing system.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Democracy should always prevail in all activities of these organizations. There foundations are aimed at providing support for the general interest of the public population. They are interest groups which serve stop the basic loopholes and rigidities of the federal legal system. Democracy helps to provide equity and equality in service provision to the public. It seeks to ensure that the interest of the public is seldom at par with the good of the society. This is a preferential requirement which gives the community an optimal opportunity of enjoying basic interest in the community development process. They should invite for free contribution, comment and exercise of the members allied to them.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Either, the performance of their work should be at peaceful and harmonious grounds where no external harassment, intimidation, reprisal and discrimination is to support their basic activities. This helps to formulate standards of activity where they are to act and perform at their most discretional and willing capacity without any external effect. Either, there should be no external influence by the federal governmental which is to provide support for the well being of the society.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Elsewhere, they should be provided with conditions for seeking, managing, receiving and administering their activities in the support of international, domestic and foreign activities and entities.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Equally, individual joining, formations and participation in such organizations should be at the discretion guided by their freedom and rights of expressions, associations and peaceful assembly. This helps to provide standards with which the governmental regulations are not to shape the interest and nature of the organizations.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Since the principles are to provide support for the authenticity and the well being of the society, the governments of democratic countries are to act adequately in the effect of the strong withstanding of these organizations from the inadequate influence of the national systems. The violations of their basic principles should therefore call for a close action by the national government in their effective defense.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The concept of ethics is fundamentally critical in analyzing the management system of the non profit organizations. The Alliance for Nonprofit Management Standards (ANMS) is the movement allied to setting and establishing ethical standards for use and applications by the organizations. Ethical management is closely allied and synonymous to adequate management. Ethical management is a subject of nonprofit organizations leadership which help to ensure a conduct within the gross corporate requirement. It’s a basic support that provides harmony in the institutional framework of these organizations. They help to provide a peaceful coordination in implicit formality to ensure ways and means to safeguard the interests of the stakeholders. At one edge, it helps to provide responsibility and either set the respective ideals in the professional outlay of the organization. On the extreme end, unethical management is what violates the basic principles of nonprofit organizations. Its operations are to provide for a continued inequality in the role they play in the society. Such unethical management is a way of administration and organizational leadership which provokes the legal authenticity of the nonprofit mission statement. Generally, every ethical management is to provide solid protection for the organizations clientele and professional system. Either, such management does not compromise structure for acceptance into adequate system of administration and also the will of guidance to the people. It does not compromise on improving the consistency and also the quality of the life of the individual human population with which it provides service to. Ethical management provides a standard collaboration in the activities of the organizations. Every ethical management is aimed at rationalizing the quality, support and formulating high integrity for capacity building within the organization’s activities. Due to the fragility and the developing nature of the capacity building within these organizations, every epoch of the legitimate leadership standards to provide support for the mission statement of these organizations. Ethical behaviors in the leadership autonomy, helps to provide effectiveness and promotion of capacity building in the functional outlay of these organizations. Ethical management equals ethical standards which ensure a support for standardized capacity building.   Ethical managing is a tool for promoting a better clientele service and activity within the organizational framework. It is an approach which seeks to ensure control of the interest conflict within the organizational function. (Waden, 715)   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   However, unethical management is subject to providing inadequacy in the standards of the organizations activity. This is the leadership activity which destabilizes the functional capacity of the organization. It is a leadership activity (management appraisal) which brings conflict to the organization. Elsewhere, unethical management does not focus on maintaining the basic principle allied to nonprofit organizations. This is the management system which down looks major rules and processes within the organizations which ensure a collaborated approach in service delivery and promotion of efficiency in the organization’s activities. Legal framework   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Generally, non-profit organizations have a lot to do with its legal status. At one level, many states have well provided laws which govern the activity of the organizations. Either, these laws help to regulate the management system and formulate the various requirements for their establishment. The nature of these laws is to provide standards of support for management process which does not overlook the systems of corporate governance. Above the state laws, their internal systems is driven and monitored by authorities which provide support for basic organizational coordination. Above the many legal requirements, these organizations should provide well detailed support of their financial activities. This should have a clear picture in the level of expenditure and also income flow within their transactions. The legal system requires them to have a full support for the governance and management system by providing a layout of their organizational management staff. The legal structure under the federal system also provides the level of structural formulation. It pronounces the legal terms with which these organizations are made to follow in the pursuit of their administration from the legal status portfolio as the tax exemption clause. This provides that the organizations are to enjoy income tax free activities. Tax exemption in US is through Internal Revenue Service (IRS). However, this exemption is only enjoyed by organizations which meet specific statutory requirements which includes, limited spending, safeguard for charity interest in its internal affairs above specifity in its purpose. Tax exemption is required a full commission to the requirement of the nonprofit organization’s activities. (Walden, 719) Deviations from this standard requirement will lead to the withdrawal of the tax exemption requirement.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   However, the Federal Law has a weak force in providing for charity and non-governmental operations. It fails to substantially provide the basic requirements for what should be done by the organizations. However, lack of strong legal concern does not mean that the state government should run these organizations.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   However, the basic legal authority of the non profit organizations is bound to be self regulatory without operational influence of both the state and the international laws. The organizations are made to provide their own management system which should not go by the standard of approach and regulation by the state law. However, private control by these organizations is the foremost influence of inadequacies in the fundamental activities. Due to their solidary private control and governance, these organizations will at many a time endure inefficiencies in the administrative prospects. Their private nature is the basic initiative for mismanagement and rebel over many interests at the expense of the federal system laws and regulations. (Til, 54) Governance and board development strategies. With the fragility allied to the activities of the non-profit organizations, governance and board development posits an important factor. Consideration for the most optimal governance and development within such organization should not be compromised. However, essential of board development should provide strategies which helps to ensure the most adequate board system. Firstly, the choice in strategy should not overlook the role of the board. However, the achievement of the goals and missions of the organization should be promoted. This helps to ensure high standards of achieving the standards of the organization. Either, adequate support by the board helps to facilitate a comprehensive support for the roles of the organization. However, supported training to board members should seek to ensure the most adequate governance structure within the organizations. (Axelrod, 142)   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Nonprofit organizations come as fundamental bodies that seek to refuge the problems allied to the current regime where such organizations have risen falsely with even non-functional activity and performances. The board should therefore reclaim the specific roles they are made to play within the organizations. This is to ensure a richly state of practices. Either, the board has a sublime role to play in the governance of the organization. Unless the society is provided with clarity of the authenticity in the activities within the organization, various stakeholders may not have the will to participate fully in the organization’s activities. The board is allied to a functional capacity which helps to provide strength of the weaknesses born in the institutional and also management capacities.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The boards’ development should therefore provide various strategies which help to give a comparative impression for adequate activities within the organization. This should seek to give directions on strategies and goals for facilitating control on organizational issues. Every governance structure will therefore help to provide a strong coordination of the internal outlay of the organization. The rules of many boards reduce shortly after the registration of the organization where such boards disintegrate out. There functional layout is mostly seen at the growth stage and emergent stage of these organizations. However, they normally posses unclear or even poor definition in the goals of the organization. There is lack of understanding of the governance requirements. The next aspect is the modality of conflict among them and the organizations management.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Therefore, every strategy in board development should perpetuate a board which ensures effective board’s activity. Adequacy in such board should not compromise training of the board members. Training is therefore an important strategy which should be used to overcome the inequality born by the weak board systems.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The board development process helps to ensure a board which helps to coordinate adequately the activity of the organization. For adequacy in the leadership and governance styles within the organization, the board provides an authentic support for the organizational activity. The development process of the organization’s board should use various developmental initiates as strategies with which it will be able to adjust its board development process.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Either, the mission of the organization should be a basic fundamental aspect when defining the nature of the board development. The organizations mission should be the basic tool which helps to shape the nature of the board. Through the mission statement, the characters and the nature of the board will thus be shaped. Elsewhere, the organization program should a basic guiding strategy towards a better coordinated approach for the governance.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   A coherent plan of its strategies should guide the organization in developing its board. Since organizational strategies vary with its mission and activity, the package of strategies should seldom be the guiding factor towards the nature of its board.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Governance structure system of the organization plays an important role in defining the nature of activities it plays within the community. Sound governance is very important in defining the scale of attainment of the mission statement. Either, the governance system borrows its authority from the management and the board outlay. Adequacy in the governance plays a predominant role in defining the level with which the organization is able to achieve its goals. Either, the structure of the board defines the standards with which the governance of the organization is to be. (Silk, 76)   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   By their nature, non profit organizations are formed on private grounds to overseer the interest of the people. Every good relationship between such organizations and the community /public should fundamentally be provided for. Generally, the relationship between these organizations and the community is ideally rationally close. It seeks to create an incentive of participation between the community and such organizations. Elsewhere, lack of adequate relationship between the two would definitely mean standards of high activity and a reasonable state of coordination and surveillance for the community. The interest of the organizations is in the provision of service to the general public. Adequate attempt of coordination between them and the community should be provided as the best initiative which provides grounds for service to the human population. Financial and human resource management A package of basic principles in the financial management, human resource management and fund development act as the guiding rule for these organizations. Financial management is an approach of administration in which the financial inflow and outflow is monitored considerably .This is to ensure that the financial transactions are at the most optimal discretion to provide support for the community. Either, this is aimed at providing the closest relationship between the community and the organization . However, the basic principle is the optimal costing principle which is applied to provide the most adequate system of financial use in the financial system .Optimal costing implies that the financial inflow and outflows is at the greatest capacity to provide support for the use of the finances. Generally poor financial use has been the benchmark in lack of trust to many of the organizations by the community, government and private financiers .Therefore every optimal costing should seek to serve the interest of the stakeholders in the organization. Either, like any other organization, these organizations should provide financial management systems which ensure the right perception by both the internal and external environments. Accountability provides a support for financial management .The internal financial position, standards and figures are used by the internal management to make decisions about the organization .Through adequate disclosures of the financial documents, and the management is able to make the relevant decisions (Linnel, Radoserich, Spack, 48) Generally, these organizations are to maintain their financial accounting in the principle provided by the Generally Accepted Accounting Principles (GAAP). Such provide that financial accounting follow the international standards in support of the financial documents Either all non profit organizations ought to have a system of internal control. This is to ensure that the financial transactions abide by the conventional system of management Elsewhere non profit organizations are supposed to have full provision of reports to the finance management and to be provided to the relevant stakeholders such as financiers. Adequate financial reports are important to every activity of management within the organizations Generally the management should use systems of adequate control on their budgets which ensures adequate control in their budgetary system .Budgeting is very important for every activity allied to the organizations. Financial management also provide a requirement in which the governance structure has clarity in its role play to the organization,s financial management . Adequacy in the role play by individual members provides accountability support for it’s   individual persons. Elsewhere, financial management seeks to provide the basic requirements which may be required by the different donors in the use and the allocation process of the funds .Above all, financial records are to be submitted to any stakeholder in use and control of the organization if need be for effective management. Due to the importance attached to the human capital in these organizations various principles are applied to provide a support for the most functional human capital. Many of the organizations are involved in the provision of service to the human population. To many organizations, the human workforce is large with professionalism and competence provided for all. Therefore, the organizations should not look down to the nature in which the human capital support can be provided to the service output. However, depending on the organization, various principles embody there activities. (Hall, 26) Firstly training and human force development is never compromised. This is in the realization of role played by every upright and experienced work force. They ensure various training programs for their workforce. Within the scope of the workforce management, aspect of planning and design of work for them is highly vigilant. Proper planning and design of work is important in every attempt to reduce conflict between them. Planning is made according to some preferential attributes. Time and again, the organizations provide an adequate support in the employee recruitment process and the selection for new staff. This is via the use of modalities of high competence and management. In all the activities, the rights of employees are never overlooked. This is a principle which applies to all employees of these organizations. It ensures providing support for the workers in enjoying and exercising their contribution to the organization. This is an attempt to provide support for ensuring that workers are not exploited of their resource capital. (Jeavons, 218) Workers exploitation is the main cause of conflict at the working environment. Also, the principle of performance management holds true in these organizations. Performance management involves monitoring of the role played by the workers through surveys and study activities. Performance management provides support for adequacy and optimal performance by these workers to ensure the most optimal output by the workers.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Fund development is an important tool in the non profit organizations. Such organizations are allied to formulating various fund development strategies. Fund development implies the system of approach in creating funds and using supporting tools for creating their donation. This helps to provide support for fund raising and using methods to attract funds from the donors and finances. Fund development uses the tool of public relations to create fundamental environment with which such financiers can be motivated to run the organization. Fund development is a management attribute which seeks to investigate the financial support system so that adequacy in the organizations funds can be ensured. Since this is a management process, it uses basic tools and approaches which provide support for the highest funding. Fund development will help to provide the organization with a relieved workload and hence avoid not meeting financing deadlines. This is an important aspect in the management structure since it is the driving force of the organization towards its goals achievement is the level of funds.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Financial and human resource management, and also fund development are closely interrelated. Firstly, these are system of management and governance of the organization which provide the most adequate corporation in the organizational structure to provide an authentic goal and mission achievement. The success of each implies and promotes the success of the other. At one level, good fund development is allied to financial management where the tools of financial management are used to adequately apportion and budget for the collected funds. Either, all the activities that include financial management and fund development are provided by an adequate structure of human resource. This provides a support for the adequacy into the activities of the organization. Human resource package is fundamental in defining the nature of performance of all the organizations activities. Emerging practice in non profit organizations.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Currently, the non profit organizations’ activities have had a diverse state of practices that are emerging out from the conventional outlay of the organizations in the US and the world in general. These practices have been key pillars in providing a support for the most authentic system of support for the future of the organizations. The sector is perhaps having a brighter future when its activities and processes are under a good system of practices.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Firstly, policy and framework on the legal parameter guiding the organizations have been developed on fountain grounds. Adequacy in the legal policies is a fundamental subject in providing adequate support for their performance. Policies ensure a coordinated approach in the standards of the organization legal framework which ensures that conflict is reduced between the organizations activities in terms of its structures and stakeholders. Through a support for strong legal modalities that act as pillars of the organization, the management process of the organizations is highly strengthened with little or no conflict in their governance process. Strong legal framework has ensured that the organizations act within the basic legal requirements that promote the best relation with the community. Either, adequate structures above programs as well as services ensure a coordinated link between the organization. Every organization is accompanied by a structure of specific programs, and structure which help to ensure a strong personal activity.   Adequate programs and high maintained and supported structural authenticity has ensured a continued high activity and dominance of the organizations in the society. Program system is the nature of the activity support for the organization. Strong program and services outlay provide a support for a continued rationality of organizations within the society. (Til, 53) Generally, the organizations act within the human capacity.   This is synonymous to capacity-building by the human populations.   Human capacity has been a basic tool for leading to changes in the social structures and hence provides conditions for the most adequate human life potential in the global portfolio. Their nature is in service to humanity. Within the changing nature of the social structures, capacity building remains an important aspect in rationalizing the societal activities. Providing adequate outcomes in their performance and the measures in their activity is also an emerging practice. There has been an increased activity in the analysis of their activities.   Performance outcome seeks to study the scale with which the activities described to the organizations provide the most adequate and profitable benefits. Summarily therefore, the aspects of nonprofit organizations is fundamentally critical and capturing an enormous scale of activities within its jurisdiction.   They does a lot in support the human population.   Their adequacy depends on the manner with which management is done in due course. Work cited Axelrod, Nancy R. (2005). Board leadership and development. In. R.D. Herman, Handbook of Nonprofit Leadership and Management, pp. 142, San Francisco: Jossey Bass Publications. Dimaggio, Paul J. and Anheier, Helmut K. (1990). The sociology of nonprofit organizations and sectors. Annual Review of Sociology, Vol. 6, pp152. Hall, P. H (2005). Historical perspectives on nonprofit organizations in the United States, In. R.D. Herman, Handbook of Nonprofit Leadership and Management, pp. 22, San Francisco: Jossey Bass Publications. Jeavons, T. H. (2005). Ethical Nonprofit Management. In R.D. Herman, Handbook of Nonprofit Leadership and Management, pp. 218. San Francisco: Jossey Bass Publications. Linnell, D, Radosevich, Z, Spack, J, ( 2001). Executive Director’s Guide: A Guide for successful Nonprofit Management. Pp.48. Boston: United Way of Massachusetts Bay. Silk, T. (2005). The legal framework of the nonprofit sector in the United States. In. R.D. Herman, Handbook of Nonprofit Leadership and Management, pp.76, San Francisco: Jossey Bass Publications. Til, V. (2005). Nonprofit Organizations and Social Institutions, In. R.D. Herman, Handbook of Nonprofit Leadership and Management, pp.53, San Francisco: Jossey Bass Publications. Walden, G. (2007). Who’s watching us now? The nonprofit sector and the new government by surveillance. Nonprofit and Voluntary Sector Quarterly, Vol. 35, 719