The Cause And Effect Of Maintaining A Personal Budget

The topic I chose for my research is the cause and effect of maintaining a personal budget. This is the department in which most of the people struggle a lot to manage it effectively. Therefore, the aim of this study is to aware other people as well that how it could affect them in many ways if they are not maintaining their personal budgets. The personal budget will help people in many ways as it has many pros in maintaining a budget. The personal budget maintenance requires trickiness as the main tactic in the people to reap the great benefits of maintaining a personal budget. The personal budget can help the people in knowing the money movements in their life by noticing their incoming and outgoing money balances. This also helps in knowing the expenditure details and how much money needs to be managed for better allocation of funds. This can be performed by preparing a budget plan. Introduction A budget is a plan of the spending with limited money over a particular period of time. A personal budget is a financial plan for allocating future personal income towards the expenses, savings and towards the debt repayments. For creating a personal budget, past spending and personal debts are considered to have an effective planned spending. Without a personal budget, the money will be spent on unimportant stuff. The effects of not keeping a personal budget will lead to take loans to fulfill the requirements and in emergency needs. The strict budget plan tends to release extraShow MoreRelatedEssay On Flat Tax971 Words   |  4 PagesWhen reconfiguring both personal and corporate income tax structures, the first decision lawmakers must approach is choosing whether to establish a flat income tax or a system with graduated tax rates based on levels of income. Unlike many of its peer states, which have flat corporate tax structures, Iowa has a graduated corporate tax rate with four brackets based on income levels. This system theoretically creates a more equitable outcome for taxpaying companies, and allows smaller businesses toRead MoreAmericas War on Drugs - The Prison Industrial Complex Essay911 Words   |  4 Pagesthe devastating effect it has had on those in prison and the family members of those incarcerated. With Canadas Prime Minister Stephan Harper and his Conservative approach to follow in our bordering neighbors foot sets with the Safe Streets and Communities Act, and his get tough on crime approach Canadians are entering dangerous territory. America government is now warning the Canadian people that these harsher and more punitive laws against the war on drugs will only cause greater damage toRead MoreAnalyzing The Stock Market Crash1097 Words   |  5 Pages2013. Currently the national debt is approximately 18.5 trillion dollars (usdebtclock.org). National debt refers to direct liabilities of the United States Government. 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I had the pleasure of reviewing critical informat ion about the establishment and have organized a beneficial plan to upgrade the security system to perform at an optimal level. In addition to maintaining the budget requirements set, the weakest points among the organization will be addressed. Upgrading the system software and physical security, creating an information security policy, improving the employment hiring process, and controlling access toRead MoreEvaluating the Ethics of Deicit Spending Using Haidt’s Six Ethical Principles958 Words   |  4 Pages (dictionary.reference.com, 2014) In other words, it means that the government continues to increase spending when we already owe more than a trillion dollars. Throughout this paper I will be evaluating the ethics of this topic using with my own personal opinion along with Haidt’s six ethical principles. (moralfoundations.org, 2014) I will also explore the strengths and weaknesses of my argument using articles from the Washington Post and CBS news that support reduced government deficit spending

Diamonds A Symbolism Of Blood - 1119 Words

Diamonds: A Symbolism of Blood or Regality? Marilyn Monroe’s famous line â€Å"Diamonds are a girl’s best friend† is glamorously known worldwide. It is true that diamonds is what every girl desires for. Diamonds signifies to consumer’s wealth and glamour and are generally associated to gift one another or symbolize romance, marriage, and purity. However, despite how appealing a diamond is, its worth could be someone’s life. This is known as blood diamond or conflict diamond. A blood diamond is a diamond mined from a war zone and sold generally to help a rebel or invading army’s war efforts to gain more weapon and armed goods. Consumers are becoming more aware about the illegal diamond trade through the Kimberly process and the restrictions on diamonds in war zones. Hence, this paper argues that diamonds are a universal desire and through the Kimberly Process, the diamond industry has become more ethical and provides benefits to other regions around the world. First, the reason why diamonds are desirable is because of the deep tradition of engagement rings and jewelry and how it associated with social status. Every girl is believes or imagines to have an expensive ring. Hence, the demand of diamond as jewelry makes this commodity a desire. Hence, many people are willing to spend money on the sparkle because of the social status and beauty the diamond provides than other basic necessities. Diamond is a global commodity because it is a not produced in every country and isShow MoreRelatedEssay on Elevating the Power of a Novel through Symbolic Objects1635 Words   |  7 Pagestext. Whether the symbolism of the object is apparent to the reader or not the author places them in the story to elevate the power of the text. In Truman Capote’s Breakfast at Tiffany’s and Sylvia Plath’s The Bell Jar, there are a plethora of symbolic objects that hold a deeper meaning then what appears on the surface. 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Merill Lynch Free Essays

Supernova refers to a new way to manage client relationships that originated in one of Merill Lynch’s Indianapolis offices. The first preparation before the process of Supernova was establishing relationship with client in the area of client satisfaction; The frequency and quality of contact Rapid response to problems Attention to details The changes required to implement the Supernova process includes Maintaining minimum contact time Reducing the number of customers Folder system Through the Supernova process, FAs must maintain minimum contact time which is the 12-4-2 which is 12 monthly contacts of which 4 were portfolio reviews and 2 were face-to-face meetings. Besides that, FAs would have to segment the number of customers. We will write a custom essay sample on Merill Lynch or any similar topic only for you Order Now They have to rank their clients according to revenue generation, assets, favour of doing business with and etc. Most of them decided to reduce their clients to 200, important family or business associates, clients described as necessary. The FAs would have to implement Folder system that was done by the client associates. This is to provide systematic approach in FAs duties which is consistent with the Supernova process. As for the company, they may need to increase workforce at the Financial Advisory Center as many less promising clients are being let go by the FAs. There are several risks in this Supernova process. The first risk is that the FAs jeopardize the Supernova â€Å"brand† in that their clients would not be as satisfied as those of complete adopters. Second, Supernova advocates agreed that a failure to fully adopt the program meant that its benefits for FAs such as improved compensation and quality of work life would not be enjoyed. Third, when service promises were made to clients by FAs who intended to fully adopt Supernova but never completely implemented the program. Fourth, many traditional FAs associated the new approach (gathering and allocation) with Supernova. Fifth, the FAs felt that the CRM software that was used no doubt is the best out there but it’s a complex solution which may be difficult to be used by the FAs. The potential benefits in the Supernova process includes customer retention improved communication better organized FAs The customer retention is essential towards both FAs and the company. Once the customers are being identified, they are kept abreast and updated by their FAs. This served as a platform for both the customers and the FAs to have better bonding. The communication between the FAs and the customers improved as customers would definitely be sure to receive a call at least 12 calls for a year. Customers would also receive quick response to any problem that may arise. The FAs learnt to be more organized and be systematic through the folder process which is consistent to the implemented 12-4-2 program. How to cite Merill Lynch, Papers

Social Entrepreneurship and Business Ethics Responsibility

Question: Discuss about the Social Entrepreneurship and Business Ethics Responsibility. Answer: Introduction Being of service refers to the charitable acts of the graduates that are primarily aimed at giving back to the society. The graduates can give back to the society in a variety of ways which include a voluntary provision of their time and resources. Moreover, they can offer support to community projects, protect the environmental conditions, give medical care to the homeless members of the society and be participating in the societal sports and games. Most importantly, the graduates are expected to demonstrate the ethical standards that relate to corporate social responsibility. Notably, corporate social responsibility encompasses the commitment by the organization to operate ethically and significantly contribute to the socio-economic development of the community of operation and ultimately improving the living standards of the society as a whole (Chell et al., 2016, p.620). This paper seeks to analyze the benefits of being in service and further highlights the role it plays in the c areer of entrepreneurs. Wide-Reaching Benefits of Being in Service Corporate social responsibility is vital in the current business environment because of the inherent benefits that come with doing philanthropic work to the society. As such, businesses and individuals should not only focus on the profit objective but also put significant emphasis on the corporate social responsibility. Serving the community has the following benefits to the upcoming entrepreneurs Corporate Social Responsibility significantly enhances the leadership skills of the individuals. Leadership plays a substantial part in the success of an organization and therefore entrepreneurs should put emphasize on the qualities of a good leader. The principles of corporate social responsibility emphasize on the ethical standards that benefit the society. As such, entrepreneurs that incorporate social responsibility in their business models exhibits the characteristic of a good leader such as support to the community and visionary in nature among other features of sound leadership style (Johnson et al., 2011). Additionally, being of service enhances the relationship between the entrepreneurs and members of the community including their employees. Changing the lives in the society creates good labor relations that are essential to the success of the organization. Consequently, the future entrepreneurs need to focus on building working relationships. Notably, corporate social responsibility requires the creation of good working conditions and proper employee welfare such as a provision of health care, assistance of dependants among others. In essence, adopting good corporate social responsibility enhances the relationships between the entrepreneurs and the important members of the society that are needed to realize the set goals of the organizations. Commitment to corporate social responsibility significantly enhances innovation among the employees of the organization (Salim and Ellingstad 2016, p.258). When a business operates with the society in mind, the nature of production activities aims at limiting the social problems. For instance, in a manufacturing business, pollution is a major issue. If the manager is socially responsible, ways of reducing the effects of pollution result in creativity and innovation because they will consider all the alternatives to solve the pollution problem (Hemingway 2005, p.235) Internal Benefits of CSR (Being of Service) Notably, internal aspects of an organization are critical to its performance and competitive ability within a given industry. As such, the management is required to formulate appropriate policies that help in the achievement of these critical business elements. Observably, employees welfare is one of the key CSR components that assists in the realization of successful entrepreneurship. Through this approach, an institution is obliged to provide medical cover, provide leave, and offer various financial assistance to the workers. Additionally, an organization indicates its being of service to its workers through the provision of better-working conditions, designing the jobs such as the employees get satisfied, and adherence to the intellectual property laws. These factors indicate the concern that a company has towards its employees, thus, promoting motivation and satisfaction among the personnel. Essentially, the CSR initiatives create a proper relationship regarding respect between the management and staff. External Benefits of CSR (Being of Service) Similarly, the external CSR elements determine the association between a firm, consumers, and surrounding communities. Remarkably, a company must apply procedures that do not lead to the destruction of the environment and other natural resources. Specifically, the external components are critical to the production of quality products that have minimal adversities on the consumers health. Additionally, the CSR services ensure that the enterprise contributes towards community development by establishing philanthropic activities such as funding local activities. Other requirements like respect for human right, ethical business operations, and elimination of social stratification are critical towards the achievement of external services. Role of Being in Service to Entrepreneurs Most entrepreneurs venture into business with the aim of making a profit for personal use. However, it is worth noting that companies should aim at giving back to the society. In the process of doing business, the entrepreneurs touch and change lives of so many people in the community. For instance, Unilever primarily deals with selling soap and soup to the public, however, when given more consideration, the company impacts a lot on the lives of the members of the society beyond the provision of detergents and food additives. It is, therefore, worth noting that social responsibility ensures that the future entrepreneurs learn not only to focus on the profit maximization objective but also put significant emphasize on the social, economic development of the society in its entirety (Carter 2011, p.45). Additionally, the knowledge of corporate social responsibility assists the entrepreneurs in developing a sense of solving the problems of the society. More often the community faces a lot of problems such as water shortage, poor nutrition, unfavorable climate change, insecurity among others. According to Michael Porter, forming NGOs is not the most appropriate way of handling the current societal problems. He argues that the businesses cause the societal problems in the process of making profits, for instance, manufacturing companies causes pollution and the rate of the deterioration primarily depends on the level of production. As such, the social problems need to be addressed by a business model, a concept called the creation of shared value. The business model should be developed in a manner that simultaneously increases the social value and economic value. Importantly, the concept of corporate social responsibility is vital for entrepreneurs as it assists them in developing busin esses models that focus on minimizing pollution, improving the working conditions of employees and improving the employees health among other aspects of good social practices (Garriga and Mel 2004, p.65). Further, according to Harish Manwani, businesses have the responsibility of serving the community of operation because that society sustains the activities of the companies. Notably, companies have to clearly formulate a purpose that which encompasses responsibility and an understanding that they have to take care of the environment of the community of operation. Moreover, a clear plan needs to be developed to ensure that the purpose is achieved and for the scheme to work the entrepreneurs need partnerships, coalition and appropriate leadership skills that enhance the chances of achieving the set purpose of making profits responsibly (Baron 2008, p.330) Conclusion Society is vital to the success of businesses, and therefore attention should be given to the well-being of the community (Seligman 2011). According to Michael Porter, businesses should be responsible and assist in solving the social problems because most of the problems result from their operations in the process of making profits. Accordingly, future entrepreneurs need to develop and implement business models that incorporate social responsibility. The various philanthropic activities improve the leadership skills of the entrepreneurs and ensure bonding between the management and the community of operation. Bibliography Baron, R.A., 2008. The role of affect in the entrepreneurial process.Academy of management Review,33(2), pp.328-340. Carter, S., 2011. The rewards of entrepreneurship: Exploring the incomes, wealth, and economic wellà ¢Ã¢â€š ¬Ã‚ being of entrepreneurial households.Entrepreneurship Theory and Practice,35(1), pp.39-55. Chell, E., Spence, L.J., Perrini, F. and Harris, J.D., 2016. Social entrepreneurship and business ethics: does social equal ethical?.Journal of Business Ethics,133(4), pp.619-625. Garriga, E. and Mel, D., 2004. Corporate social responsibility theories: Mapping the territory.Journal of business ethics,53(1-2), pp.51-71. Hemingway, C.A., 2005. Personal values as a catalyst for corporate social entrepreneurship.Journal of business ethics,60(3), pp.233-249. Johnson, G., Whittington, R., and Scholes, K. 2011. Exploring Strategy: Text and Cases. 9th Edition. Harlow:FT Prentice Hall Salim Saji, B. and Ellingstad, P., 2016. Social innovation model for business performance and innovation.International Journal of Productivity and Performance Management,65(2), pp.256-274. Seligman, M.E., 2011. Flourish: a visionary new understanding of happiness and well-being.Policy,27(3), pp.60-1.