Using the information contained in the case‚ conduct a five-forces analysis of the U.S. Steel industry. What conclusion can you draw from this? 1. The risk of entry by potential competitors: High a. Capital Requirement: Steel industry is a capital intensive business. b. Economies of scale: Research and Development expenses and better bargaining power while sourcing raw materials. It may be noted that those steel companies‚ which are integrated‚ have their own mines for key
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Humans are born from and return to earth at death; human beings and nature are bound up each other. Yet‚ the technological modern world has shaped humans to be oblivious of nature and the ethnocentrism has positioned human beings above all other things. Nature has become resources for people and nothing more than that. David Abram‚ the author of the Ecology of magic‚ travels into the wild‚ traditional land in search of the relation between magic and nature; the meaning nature holds in the traditional
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Internal Control System Ginger Lankford Internal Control Systems ACC544 Robert J. Cornett‚ MBA October 4‚ 2010 Justification for an Internal Control System Businesses need an efficient and cost-effective internal control system even with insurance and a portfolio approach control in place. Insurance is necessary and the portfolio approach is very effective but is more reactive than preventive. Internal control sets the foundation to ascertain reasonable assurance that company objectives
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historical data as input‚ and these data might very well not be constant or accurate. Correlation may indeed change both over time and between classes of assets. However HMC examined short-term and long-term historical records and talked with investment management firms specialized in this type of analysis in order to get the most accurate data. Finally‚ HMC is doing well using the optimizer as a proxy for the investment decision. Optimizers may lead to completely different investment strategies if the inputs
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total neglect of quality standards through lack of Quality control. Quality control‚ when implemented in a project‚ helps in yielding profit because the output is usually of great standard whereas when omitted‚ unavoidable losses are incurred. A project is said to be complete when the output not only conforms to pre-defined requirements but also to quality standards of the category it falls in. e.g. Standard for Quality Management Systems ISO 9001:2000 Automotive: ISO/TS 16949:2002 Energy: PC
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“A budgetary planning and control system may include many individual budgets which are integrated into a ‘master budget’.” Budgeting is concerned with the implementation of long term strategic plans‚ by translating these long term plans into short term plans of action. A budget is a plan showing a firms short term objectives‚ and how management intends to acquire‚ use‚ and control the resources in order to attain these objectives. A firms budget should be comprehensive and co-ordinated. That
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Global 7-Eleven Management Control INTRODUCTION. Control. In management control is a critical fuction. Management control problem can lead to large loses and possibly even to organizational failure. (Kenneth and Van Der Stede‚ 2004). Why controlling became the crucial thing on an organization or company? it because controlling handle the process of monitoring‚ comparing‚ and correcting work performance. (Robbins and Coulter‚ 2009). So‚ what the impact to the company or organization if
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All publicly trader companies in the USA are required to maintain and have an up to date system of internal controls. Since the LJB Company is wishing to become a public entity‚ I am glad to be able to assist in this action. First‚ the rules and regulations must be reviewed and compared to the company and how it can become public. To make the company attractive to buyers‚ investors‚ and other capital sources‚ it is crucial that the corporate organization and governance are well manifested. Corporate
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affirmative data but also the negative result‚ (e.g. experimental errors that may have a significant bearing in your conclusion based on the results gathered) 4. SYSTEMATIC - Data presentation must be done in a logically; in a way that it can be easily understood. - Usage of legends explaining what are being summarized. 5. RELEVANT- Results should compliment and be related to the hypotheses and problems the research is trying to address FORMS of RESULT PRESENTATION * Numerical
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Justification for an Internal Control System Organizations that do not have the proper internal controls tend to deteriorate over time. Therefore‚ companies should incorporate effective internal control systems to accompany other risk management approaches like insurance and risk portfolio. Internal Control Systems can provide an additional reference tool for organizations to identify and assess operating controls‚ financial reporting‚ and regulatory compliance processes and to formulate preventive
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