Accounting and Financial Management Capital Structure

Question: Write about theAccounting and Financial Managementfor Capital Structure. Answer: Differences Between Financial and Capital Structure Capital structure is deemed mixture of debt sources and long-term capital. There are three major sources of capital structure, which includes equity share, preference share and debenture. Fund from such sources are gathered and employed for acquiring the short and long-term assets. It can be said that total fund for the capital structure will be can be financed from debt and share capital (Elsas and Florysiak 2015). Financial structure is deemed balance sheet structure that includes sources of acquiring both fixed and current assets. The liability side of balance sheet is the financial structure. In financial structure, the long and short-term liabilities will be included. All the fixed and current assets are considered within long and short term liabilities. Funds are basic requirement for a company to address long term as well as requirement of working capital. Companys raises funds from long and short-term fund sources and for such reasons financial and capital structure are used. Capital structure deals with the long-term fund source and on the other hand, financial structure focuses on the manner in which the company can be financed (Baghai, Servaes and Tamayo 2014). This represents the overall liability aspect of the position statement that includes balance sheet that encompass long as well as short term debt as well as current liabilities. Difference can be realised based on capital structure. Financial structure can be understood as the base of capital structure, while, capital structure is an aspect of financial structure (Allen, Carletti and Marquez 2015). On the other hand, basis of financial structure is different as there are lots of financial structure basis. It can also be said that the factor that affects the financial structure. Nature and type of business, investment needs, long term along with working capital requirement, cost of capital, cash flow capability of an organization along with advantage are the vital factors that affect it. Decisions related to financing assets of a company are extremely important in all the businesses and the finance manager remains in the dilemma of the proper proportion of debt and equity (Serfling 2016). Being a general rule there must be a suitable mix of equity and debt capital for financing the assets of a company. For such reasons, capital structure must be designed effectively that can serve the equity shareholders interest. Sound capital structure is deemed important for a company to take effective organizational decisions for this might result in increase of company, use of accessible funds, return maximization cost of capital maximization along with maintaining solvency or liquidity position. A sound capital structure of a company helps in increasing shareholders wealth by means of maximization of total cost of capital (Rampini and Viswanathan 2013). This can also be attained through including long-term debt capital within capital structure for the reason that debt capital i s decreased than cot of equity or preference share capital as debt interest is tax deductible. Management Accounting System Focus on Tight Cost Controls and Minimization Within management accounting system, cost control is also known as cost management that must focus on tight cost control through employing certain cost counting and management techniques with the intention of enhancing business cost-effectiveness through decreasing costs of restricting the growth rate (Kahle and Stulz 2013). Tight cost controls must be ensured for evaluating, monitoring along with improving effectiveness of particular areas like departments, product lines and divisions in the business operations. Cost control and minimization can be understood as the efforts of the effective use of management accounting system to monitor, analyse and decrease expenditure. Such efforts might be aspect of formal, organization-wide program that can be informal and restricted to a particular department or person (Farre-Mensa and Ljungqvist 2015). Cost control and minimization process must be tight that begins with the yearly budget. With the progress of the fiscal year the accounting con trols and budget process, effective use of management accounting system facilitates dealing with decreasing costs of the company that determines particular objectives for designing standards and procedures in order to evaluate the cost minimization approach effectives of a company. Management accounting system facilitates in cost minimization as a variety of techniques that can be used to cut costs for small businesses (Johansson and Siverbo 2014). A technique of cost minimisation can include hiring an external analyst. Certain likely benefits of employing a consultant encompass saving time for owner of the company along with raising awareness regard cost minimization within the organization. One of the major concerns of a company is to maximise the profit that is possible by means of reducing the cost of production. Tight focus of management accounting on cost control will ensure that a technique is maintained that offers vital information to the management regarding whether actual costs are associated with budgeted costs or not (Bedford 2015). Cost minimization can serve as a technique that can be used to decrease a products unit cost devoid of compromising its quality. Cost minimization is considered vital aspect in order to maintain and increase profitability. The management accounting system of an organization to decrease the business expenses and increase profits that initiates with the process of budgeting must consider outsourcing process. For instance, corporate payroll can be outsourced due to the reason that payroll tax laws constantly changes and the employee turnover needs constant changes for payroll records (Auzair and Auzair 2015). Cost control can serve as a process in which the actual results are compared against standard so that cost can be measured and suitable action must be considered for decreasing operational expenses. Cost control can be done through employing several effective management accounting techniques. This can be conducted through a process that centres on controlling costs by means of competitive analysis. It is a practice that is effective in order to maintain actual cost in alignment with the established norms. Ti ght cost control can be maintained through making sure that cost experienced in a business operation is not moving beyond the previously determined cost. Reference List Allen, F., Carletti, E. and Marquez, R., 2015. Deposits and bank capital structure.Journal of Financial Economics,118(3), pp.601-619. Auzair, S.M. and Auzair, S.M., 2015. A configuration approach to management control systems design in service organizations.Journal of Accounting Organizational Change,11(1), pp.47-72. Baghai, R.P., Servaes, H. and Tamayo, A., 2014. Have rating agencies become more conservative? Implications for capital structure and debt pricing.The Journal of Finance,69(5), pp.1961-2005. Bedford, D.S., 2015. Management control systems across different modes of innovation: Implications for firm performance.Management Accounting Research,28, pp.12-30. Elsas, R. and Florysiak, D., 2015. Dynamic capital structure adjustment and the impact of fractional dependent variables.Journal of Financial and Quantitative Analysis,50(05), pp.1105-1133. Farre-Mensa, J. and Ljungqvist, A., 2015. Do measures of financial constraints measure financial constraints?.Review of Financial Studies, p.hhv052. Johansson, T. and Siverbo, S., 2014. The appropriateness of tight budget control in public sector organizations facing budget turbulence.Management Accounting Research,25(4), pp.271-283. Kahle, K.M. and Stulz, R.M., 2013. Access to capital, investment, and the financial crisis.Journal of Financial Economics,110(2), pp.280-299. Rampini, A.A. and Viswanathan, S., 2013. Collateral and capital structure.Journal of Financial Economics,109(2), pp.466-492. Serfling, M., 2016. Firing costs and capital structure decisions.The Journal of Finance.

Slave Revolt Essay Example For Students

Slave Revolt Essay The American Civil War was inevitable and had numerous causes that led toit. This paper will discuss three important causes of the war the invention ofthe cotton gin, Nat Turners rebellion, and the abolitionist movement towardending slavery. There are many causes of the war, but I feel these three aresubstantial causes. Each of these events or movements created more tensionbetween the North and the South and eventually war was unavoidable. Theinvention of the cotton gin by Eli Whitney had a great effect on slavery andagriculture in the South. The cotton gin was a machine that removed the seedsfrom the cotton. Removing the seeds from the cotton was a long and tediousprocess. This invention made processing cotton relatively fast and easy. Thecotton gins speed allowed the cotton plantations to produce massive amounts ofcotton. This became very profitable. To support the harvesting of all of thecotton, more slaves were needed to run the cotton gins and harvest the cotton. This brought more slaves to America and boosted the population of slaves in theSouth. The increased number of slaves in the South actually helped heighten theproblem with slavery. Slavery was becoming more evident and people were becomingmore aware that slavery was wrong in both the North and the South. The nextcause was a slave named Nat Turner and his actions. Nat was a slave who hadfound God and religion. Gradually he built a religious following that justifieda slave revolt. On August 13, 1831, Turner says he saw a halo around the sun. Hethought that this was a sign from God to begin the revolt. This was thebeginning of Nat Turners rebellion. On August 22, 1831, Nat Turner led eightslaves to the Traviss residence, a white family, and murdered five members oftheir family. The slaves then moved across the county murdering white plantationowners, their families, and other whites that crossed their path. As the groupmoved, they gained in size at every stop that they made. Many slaves joined theoriginal eight. Not all slaves joined in on the rebellion, some stayed behindfearing that they would be stopped and killed or sentenced to harshconsequences. The group of men swelled to over seventy and managed to killfifty-eight men, women, and children including Turners slave owner. The killingspree went on for forty hours before the Virginia Militia apprehended the group. Nat Turner was able to escape capture by the Militia. Turner was able to evadeauthorities for eight days in the area near Southampton. This was until BenjaminPhipps spotted and captured Turner at gunpoint. Once in the hands ofauthorities, Turner confessed and told all of his motives for the killing spree. This killing spree caused many spin-off effects. The first effect was thetreatment that the southern slaves received after the revolt. It drasticallydeclined as the slave owners beat their slaves to put more fear into them toprevent another revolt. The next effect was the owners fear of another revolt. If more slaves had joined the revolt many more may have been killed. There was alot of tension of another revolt. The last effect that the revolt stirred up wasa heightened awareness of poor slavery conditions in the South. It drew theattention of the north to make an effort to start the abolition of slavery. Theabolitionists played an important part in influencing the Civil War andabolishing slavery. They worked hard to bring attention to cruelness of slavery. .u67c50ddae249614eb1524d522a7bd584 , .u67c50ddae249614eb1524d522a7bd584 .postImageUrl , .u67c50ddae249614eb1524d522a7bd584 .centered-text-area { min-height: 80px; position: relative; } .u67c50ddae249614eb1524d522a7bd584 , .u67c50ddae249614eb1524d522a7bd584:hover , .u67c50ddae249614eb1524d522a7bd584:visited , .u67c50ddae249614eb1524d522a7bd584:active { border:0!important; } .u67c50ddae249614eb1524d522a7bd584 .clearfix:after { content: ""; display: table; clear: both; } .u67c50ddae249614eb1524d522a7bd584 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u67c50ddae249614eb1524d522a7bd584:active , .u67c50ddae249614eb1524d522a7bd584:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u67c50ddae249614eb1524d522a7bd584 .centered-text-area { width: 100%; position: relative ; } .u67c50ddae249614eb1524d522a7bd584 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u67c50ddae249614eb1524d522a7bd584 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u67c50ddae249614eb1524d522a7bd584 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u67c50ddae249614eb1524d522a7bd584:hover .ctaButton { background-color: #34495E!important; } .u67c50ddae249614eb1524d522a7bd584 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u67c50ddae249614eb1524d522a7bd584 .u67c50ddae249614eb1524d522a7bd584-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u67c50ddae249614eb1524d522a7bd584:after { content: ""; display: block; clear: both; } READ: Killer Angels Essay ThesisThey protested from the late 1700s until the end of the war to get slaveryabolished. Emancipation was achieved by all of the northern states by 1804. Next, slave trading was abolished 4 years later. As time goes on, theabolitionists become more radical and eventually get louder and attract morepeople on to follow the path to free that slaves. Flyers, articles and petitionsbegan spreading the word of abolishing slavery. All of the work of talking andabolishing forced the friction between the North and the South to increasesteadily. Eventually the friction increased to until the American Civil War wasstarted. The causes of the civil war are much broader than this essay. Thisessay does cover three important causes. I chose to use points from all aspectsof tension. Agriculturally, the cotton gin increased the number of slaves andmade them louder and more visible. Individuals can make their voice heard as NatTurner turned against his owners and made a stand against slavery. Finally, thehard work of the abolitionist to get laws passed and voice their views ofslavery which caused a lot of tension that divided the North and the South. These causes led America to divide and move into a long bloody battle that endedwith the Union winning and the abolition of slavery. The effects of this war arestill felt in America today

Writing An Essay For College Students

Writing An Essay For College StudentsAn essay question that can help to prepare you for your first attempt at a narrative essay is this: 'Please explain how your life has changed.' This is a short but compelling sentence that the teacher will use to set the stage for the essay. It should not be any longer than one paragraph. Since you have probably never written an essay, it is best to begin with a theme or an interest that you already have so that you will find it easier to focus on the content of the essay.Try to think about a few different aspects of your life and write about each one in one paragraph. It could be a trip you took, a book you read, a day of your life or anything that helps you come up with a good theme. Begin by describing what brought you to this particular paragraph. Go into great detail about what you were doing, where you were going, what you were eating, what you were doing in general and so on. This is the exact point where you are allowed to think of two or three things that you can talk about so that the focus of the essay is focused on the main topic.After you have described your day, continue to tell a short, interesting, and thought-provoking story using your experiences. Be sure to use vivid words and start to develop some very powerful emotions. Once you have developed your story, you will be able to move past the beginning and go through the first part of the essay.Make sure that the ending is related to the beginning of the essay and relate it to the major turning points in your life. Your other choices would be the events that have made your life beautiful, the experiences that are truly unforgettable, and the most important events that have shaped your future. The last paragraph must tie everything together by including a statement about how you feel about the direction your life is taking.An essay sample for college students is all about being original, something that they cannot find anywhere else. You can give a brief desc ription of your experience while writing this essay or you can write a more detailed one if you want to.In order to write an essay, you must be able to express yourself clearly and use all the tools available to you in writing. It takes much more energy and practice to write a narrative than a normal essay. Even experienced writers sometimes struggle when it comes to this style of writing.Since there is no set standard for writing an essay sample for college students, most professors will simply ask you to give a brief description of your life and explain what is happening at the time of the essay. You will be asked to read this portion on your own time. Before your professor begins to read from the essay, you should be prepared to answer the questions that they will have for you. You do not need to be perfect, but you should be as accurate as possible.You might find that you need to make changes to your writing as you write it. If this is the case, you should do it before the final exam. Writing is a creative process and many times a writer will get the idea for a piece, revise it and change it until it is perfect.

Qualities Should a Good Manager Have free essay sample

Do you work well with others? Are you a leader? If you have these qualities, you might make a good manager. However, you need just more than these two qualities to be a good manager. There are a number of factors that play into whether or not you would make a good manager. The good news is that you don’t have to rely solely on natural, inborn traits. It is possible to develop the qualities good managers possess. You can complete a management program to learn some of the necessary characteristics, and you can also develop many desirable qualities on your own. As you prepare for a job in management, keep in mind these 25 qualities and characteristics of a good manager: Personal Characteristics There are items that can help you improve yourself, and enhance your interactions with others. Desirable personal characteristics make a manager someone that others can look up to, and feel comfortable following: Self-Motivation: An effective manager can’t motivate others if he or she can’t self-motivate. We will write a custom essay sample on Qualities Should a Good Manager Have or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Self-motivation, the ability to get yourself going, and take charge of what’s next for you, is a vital personal characteristic for a manager. You have to keep yourself going — and motivate those who work with you. Integrity: People trust a good manager because they know he or she has personal integrity. Workers need to know that you will fight for them, do what you say, and follow the rules. Dependability/Reliability: As a person, you should be dependable and reliable. Your superiors, as well as your subordinates, need to know that you can be counted on. Others in the organization should be able to rely on you. Optimism: Do you look to the future with hope? An optimistic attitude can help build morale in your employees. Your positive attitude can inspire others, and help them feel good about getting things done. Confidence: Do you have confidence in yourself. You need to be able to make decisions in confidence, and show others that you are capable of making good decisions. Your confidence will rub off on others, and can be of benefit. Calmness: As the manager, you can’t afford to break down when the pressure is on. The ability to remain calm and do what needs to be done is essential in a good manager. Flexibility: A certain amount of flexibility is needed by a manager, since he or she may need to adapt to changing situations. Business Characteristics Some level of business acumen is important when you are a manager. While you may not need to be on the level of a professional dealmaker, familiarity with basic business principles and practices can be helpful. Industry Knowledge: What do you know about the industry you are in? It helps understand your industry so that you can answer questions and perform your work more effectively. Workers may not need industry knowledge, but a manager should have some. Know When to Delegate: An effective manager knows that some tasks need to be delegated. You should be able to identify workers who will do well, and give them tasks they can succeed at — while helping the project. Organization: You need to be organized in order to be a good manager. Keep track of projects, employees and assignments so that you are on top of what needs to happen in the business. Basic Money Management: Understand basic financial concepts so that you understand how to manage money as part of a project you have been given. Business Hierarchy: You should know how the hierarchy works at your business, and follow the chain of command. Make sure that you understand your duties, and to whom you report. You should also know how the organization affects your subordinates. Legal Implications: While you don’t need to be a law expert, you should have a grasp of the legal implications of sexual harassment, proper hiring and firing practices, confidentiality, and more. Communication Qualities A good manager needs to be able to communicate effectively. You might be surprised at the different qualities there are related to communication. Make sure that you develop the ability to communicate as part of your efforts. Here are some qualities to possess if you want to be an affective communicator as you fulfill your management duties. Written Communication: Learn how to communicate effectively in writing. A good manager should be able to write professionally and with correct grammar, expressing him or herself in email, memos, and thank you notes. Public Speaking: As a good manager, you should know how to speak publicly, annunciating your words, and concisely communicating your ideas, whether in an interview, or addressing workers. Constructive Feedback: Learn how to provide feedback in a way that is helpful to workers and others. Active Listening: One of the most important communication skills is listening. Make sure you are listening to your workers, superiors and customers, and that you acknowledge them. Specific: When giving instructions, be specific in what you want, and in expected outcomes. Make sure your employees understand what should happen. Organize Your Presentations: Organize and practice your presentations before giving them so that you are clear and concise, and so that your presentation flows well. Relationship Qualities Your characteristics as you build relationships matter when you are a manager. You will need to know how to manage relationships between yourself and your subordinates, as well as manage the relationships among those who work under you. You should also know how to develop relationships with your superiors, and coordinate relationships between those above you and below you in the hierarchy. Customer Service: You might be surprised to discover the customer service is a relationship quality. However, it is. You need to be able to build good relationships with customers if you want to be a good manager. Learn how to relate to customers, and see things from their perspective. Mediator: Do you know how to make peace? Often, a good manager needs to be able to act as a mediator between workers, between a worker and a client, or between a superior and a worker. Brush up on your mediation qualities, and learn conflict resolution techniques to be a good manager. Team Player: Are you part of a team? You need to be able to function as part of a team if you want to succeed as an effective manager. Make sure that you are willing to work with others, and that you will hold up your end. Respect: You need to be respectful of your workers if you are to have respect as a manager in return. It’s up to you to set the example and build relationships of respect. Collaboration: You’ll need to set up collaborations with others, and with your team. You should also be able to work well with others, and understand how to integrate ideas and personalities. Value Others: A good manager helps employees feel valued. Surveys show that employees want recognition from their superiors, and you need to make sure to recognize contributions from your workers.

Free Essays on Experience The Best--Office XP

Experience the Best- Office XP Office XP vs. Office 2000 Comparison Test In the modern world, as the technology becomes more and more affective to people’s lives, human race’s relationship with computer is closer and closer. And some software is even bigger and better than ever. Sparked up Windows XP already made an evolutionary huge impact to the computer users and gave them the best experience ever. However, Office XP seemed came out quietly and inferiorly to the market. As usual, Microsoft Office XP provides the ultimate set of business tool to users. Microsoft Office XP includes Word 2002, Excel 2002, Access 2002, PowerPoint 2002, and several other programs, such as Outlook, FrontPage and Publisher. Each of the applications and utilities included in the package can be used separately or they can be used together to produce professional looking documents. On the surface, Office XP is not a radically different suite than Office 2000. Visual enhancements have been kept to a subdued minimum. Customers start to question, â€Å"is i t really worth to upgrade Office 2000 to Office XP?† In this study, by conducting these two applications, Office XP and Office 2000 together, the main goal is to identify which application offers the greatest productivity advantages when used to complete everyday word processing, spreadsheet, presentation and email tasks. Defining the productivity as shorter time to complete tasks, and the number of tasks successfully completed within a given time. First is to compare the starting speed for each application. It’s the simplest test, but with most of users concern, and is symbolized it by showing the status by chat and table. From the numbers that shows in each category, except the E-Mail program- outlook 2000 and Outlook XP are equivalent, Office XP dominates all the other components from Office 2000. Word 2000 3.4 Excel 2000 3.7 Access 2000 3.7 PPt 2000 3.5 Outlook 2000 3.3 Word XP ... Free Essays on Experience The Best--Office XP Free Essays on Experience The BestOffice XP Experience the Best- Office XP Office XP vs. Office 2000 Comparison Test In the modern world, as the technology becomes more and more affective to people’s lives, human race’s relationship with computer is closer and closer. And some software is even bigger and better than ever. Sparked up Windows XP already made an evolutionary huge impact to the computer users and gave them the best experience ever. However, Office XP seemed came out quietly and inferiorly to the market. As usual, Microsoft Office XP provides the ultimate set of business tool to users. Microsoft Office XP includes Word 2002, Excel 2002, Access 2002, PowerPoint 2002, and several other programs, such as Outlook, FrontPage and Publisher. Each of the applications and utilities included in the package can be used separately or they can be used together to produce professional looking documents. On the surface, Office XP is not a radically different suite than Office 2000. Visual enhancements have been kept to a subdued minimum. Customers start to question, â€Å"is i t really worth to upgrade Office 2000 to Office XP?† In this study, by conducting these two applications, Office XP and Office 2000 together, the main goal is to identify which application offers the greatest productivity advantages when used to complete everyday word processing, spreadsheet, presentation and email tasks. Defining the productivity as shorter time to complete tasks, and the number of tasks successfully completed within a given time. First is to compare the starting speed for each application. It’s the simplest test, but with most of users concern, and is symbolized it by showing the status by chat and table. From the numbers that shows in each category, except the E-Mail program- outlook 2000 and Outlook XP are equivalent, Office XP dominates all the other components from Office 2000. Word 2000 3.4 Excel 2000 3.7 Access 2000 3.7 PPt 2000 3.5 Outlook 2000 3.3 Word XP ...

How valid is the view that the German state which emerged between 1867 Coursework

How valid is the view that the German state which emerged between 1867 and 1871 was essentially autocratic, conservative and mil - Coursework Example Bismarck, on the other hand was the government’s chancellor (Turk, 1999). Their designations were in accordance with the Confederation’s constitution. Bismarck was actually the one who drafted the said constitution. He made it possible for the newly constituted state to have an emperor and a chancellor. He designed the constitution in such a way that he would be designated to a high position. The new constitution was observed to be the revised version of the Prussian constitution (â€Å"World,† n.d.). The main difference was the inclusion of the chancellor position. The addition of such designation in the constitution was of course with a purpose. It was designed by Bismarck so that he will have a greater role in the affairs of the Confederation. Significantly, the constitution accorded great powers to Bismarck, the chancellor (â€Å"North,† 2009). Although the constitution made Bismark responsible to the Reichstag, he was not accountable to them (â€Å"N orth,† 2009). This means that Bismark had power and control over the Reichstag. Nevertheless, the Reichstag did not have power over the chancellor. The grant of authority was one sided. Stated in another sense, there was no balance of power between them. The distribution of power under the Confederation’s constitution was unfair. It granted more power to the chancellor and less to the legislature. It could have been fine if the legislature was also accorded with the power to check the works of the chancellor, some sort of limitation. Nonetheless, the Reichstag did not have the authority to check the works of Bismarck. In other words, there was no check and balance between the two offices of the government. The legislature, instead of being the defender of the rights of the German people, became Bismark’s shield as to any expulsion attempt. Bismark then had the confidence to do anything he wanted to do. He was assured of the fact that the legislature does not have the power to evict him from his office. The constitution granted Bismarck an unlimited power to rule. Thus, in its essence, the new government was autocratic. Bismark was able to effectively control the internal affairs of the government. The set-up allowed him to become the direct intermediary between the people and the emperor (â€Å"North,† 2009). In a sense, the Reichstag was like a puppet to the government. It was part of the Confederation but it was absent in the minds of the people. In other words, it was a useless legislature. It was only there by its name and not by action. Bismark could have envisioned for such kind of legislature in his chancellorship. He could have aimed to be exercising some of the powers of the legislature. As a consequence, he was able to retain the power over the budget for German military (â€Å"North,† 2009). The ultimate decision with regard to the said budget depended on him. The Reichstag could not object or whatsoever to the deci sion that Bismark would declare. Its ability to reject any bill was only a theory (â€Å"World,† n.d.). In practice, the Reichstag was only restricted in the areas of foreign and military policy (â€Å"World,† n.d.). Moreover, Bismarck was also able to prevent some civil servants from becoming part of the Reichstag. These civil servants were the ones who opposed Bismarck’s political ideals in the year 1860 (â€Å"North,† 2009). In this sense, Bismarck had used his political power to advance his selfish desires and personal interests. He

Strategic Management Essay Example | Topics and Well Written Essays - 3000 words - 12

Strategic Management - Essay Example Strategy formulation and implementation include a variety of organizational practices. It is often understood as the ‘decision related to the design of a process and the infrastructure needed to support the process’. To illustrate, it is the process that defines the organizational goals and lays out plans in long term to achieve the intended goals. Strategy not only determines the organizational mission and objectives but also covers other areas such as marketing, finance. The following diagram shows the various aspects of organizational strategy. However, an outstanding strategy does not necessarily mean that the organization would achieve its goals. In addition to the well-designed strategy, the method of implementation is a significant factor that determines the organizational success. Therefore, successful managers would integrate the various strategic aspects with all important elements of the organization. As it is stated in Wiley & Sons, in order to achieve goals, managers must ‘comprehend their potential combinations and coordinate and integrate business factors’. Organizational Strategy became a subject for debate since 1987 when it was termed as design strategy and emergent strategy by Henry Mintzberg. He argued that strategy not only includes predetermined actions but also the gradual developments or immediate steps taken to deal with changing situations. Although in general sense strategy indicates the preset programs, organizational decisions are always subjected to the immediate deviation.