Wednesday, August 26, 2020

Global Marketing Management By IKEA for Expansion in China

Question 1: Fundamentally dissect the full scale and miniaturized scale condition of the market condition in CHINA utilizing suitable investigative devices Question 2: Create fitting showcasing targets and fundamentally dissect supporting corporate and business techniques to help the development of the IKEA brand in the CHINA Question 3: Fundamentally break down the potential Business Model of IKEA and its adjustment for the extension of the brand in CHINA. What's more, legitimize the most suitable utilization of the advertising strategies that will bolster the development in CHINA Answer: Assignment 1:Critical investigation of full scale and smaller scale condition of market in China through proper expository devices 900 The SWOT (Strength, Weakness, Opportunities and Threats) examination of IKEA proficiently features the miniaturized scale condition of the organization. Subtleties from this investigation are effective enough to distinguish the potential elements influencing the matter of the organization. So as to examine the full scale condition the PESTLE (Political, Economic, Social, Technological, Legal and Environmental) examination instrument as opined by Li and Yang (2014, p. 4742), is a proficient one. It proficiently delivers the famous outside variables influencing the matter of IKEA in China. Doormen Five Forces The powerful modern elements influencing the organization are productively featured by directing the Porters Five Forces Analysis. As expressed by (Porter-Steele, 2010, p. 79), the five significant powers of this device distinguish and give the subtleties of huge components that impact on the business conduction of an organization in the concerned market. The Porters Five Forces investigation of furniture industry of China calls attention to significant data as follows: The high Bargaining intensity of clients shows the accessibility of satisfactory number of furniture associations in Chinese market (Shi and Smith, 2012, p. 82). The low haggling intensity of providers then again, recognizes the significant expense affectability among the clients of China. This factor represents the thought of the costs of IKEA items to be high in the Chinese market while a similar cost is viewed as low somewhere else. The requirement for huge measure of capital venture is a significant obstruction to section in Chinese market for most associations. IKEA in any case, being a settled organization is relied upon to beat this obstruction without any problem. Simultaneously, it confines the other littler organizations from entering the market accordingly, lessening the opposition force to a degree. Be that as it may, as attested by (Agnihotri, 2014, p. 207), there are huge quantities of furniture organizations working in the Chinese market at household level. Along these lines, IKEA is going to confront intense rivalry from the residential organizations in Chinese furniture retail showcase. The investigation features a disappointment of the retail goliath Home Depot in Chinese market. There additionally exists a particular market culture. In this way it brings down the danger of new participants into the furniture retail market of China. Be that as it may, the device pinpoints on the high Threat of substitutes in Chinese market. Presence of phony IKEA stores and simplicity of duplicating the results of IKEA by different retailers is a famous danger waiting over IKEA in leading its business productively in the Chinese furniture retail showcase. The high Incumbent competition apparent in Chinese market is a main consideration and danger for IKEA. The nearness of solid players as BQ and Taobao adds to the expansion in competition in the market of China. Jiang et al. (2013, p. 209) contended that there are a few providers in China showcase who develop as the immediate contenders of IKEA. Undertaking 2: Developing suitable advertising goals and basic investigation of business and corporate techniques supporting extension of IKEA brand in China IKEA can apply strategies and systems as Hofstede Index, Psychic Distance Model, Perceptual guide on situating, advertising blend and division to break down market in China. It will coordinate the organization towards the advancement of fitting promoting destinations (Luther, 2011, p. 62). Hofstede Index (Refer to Appendix 1) It demonstrates that there exist a noteworthy differentiation in culture of China and Sweden, the nation of origin of IKEA with a feature on the hotshot attitude among individuals of China. The favored style and need of furniture varies generally among the 2 nations with China comprising bigger families than in Sweden. On-line shopping rises as a suitable extent of business in China where generally individuals are occupied in work. As expressed by Bessant (2009, p. 41), the record drives IKEA towards creative items through portrayal of wide acknowledgment of inventive things in China with the property of tolerating changes exceptionally quick. In any case, a more profound center is required for notice and client fascination in China than in Sweden because of the lesser carefree culture of China. Clairvoyant Distance Model (Refer to Appendix 2) This model recognizes the checked language separation between the nation of Sweden and China. It drives IKEA towards selection of Chinese primary language Mandarin for its business and showcasing activities in China. IKEA can likewise set the store areas close to workplaces according to the Chinese culture. A significant spotlight on keeping up low value items by IKEA is basic in China because of the unsteady financial conditions. The standard of paying 25% corporate duty in China raises the operational expense of IKEA in China. In any case, the organization is furnished with abundant contributing open doors by the Chinese government (Jiang et al. 2013, p. 205). Perceptual guide on situating (Refer to Appendix 3) According to the Perceptual maps of IKEA items as far as quality and cost in various nations, the organization can proficiently situate itself against its opponents in the separate nations of China, US, France, Germany, Austria and UK. The results of IKEA delineate standard quality level in all the referenced nations. Subsequently, IKEA remains at a superior situation than its adversaries as far as quality. Be that as it may, China being a creating nation demonstrates the thought of costs of IKEA items to be high. It prompts the improvement of origination that IKEA items in China market can be considered of acceptable quality yet profoundly evaluated. Division IKEA can section its objective market according to the accompanying models of Demography, Geography, Psychograph and Socio-realistic: Corporate and business systems of IKEA To the extent the corporate and business systems of IKEA are concerned, its corporate technique of offering low value items with useful and all around planned qualities represents a test to the association in face of rivalry in showcase. It technique of worldwide re-appropriating is successful in empowering it in cost decrease encouraging universal extension. Its corporate system is likewise successful in achieving minimal effort work and more affordable crude materials by giving extent of long haul high-volume business relationship with the nation as is found in Vietnam (Hgevold, 2011, p. 395). Its business technique of open correspondence encouraged information sharing, smoothing out dynamic, acing new advancements in furniture creation and powerful promoting strategies empowered IKEA to create one of a kind upper hand over different opponents in the business. Undertaking 3:Critical investigation of potential plan of action of IKEA and its adjustment for brand development in China with most suitable advertising strategies supporting the extension As indicated by Hwang et al. (2013, p. 1506), business canvas model is an apparatus to make and investigate plans of action. The greater part of the organization can make this model without any problem. However, the primary concern that each organization needs to ensure is that they should break down it and update the current model with proper way of time. According to the given contextual analysis association IKEA has likewise a plan of action of its own. Client Segments: The objective client of IKEA is fundamentally the families. The age fluctuates from 30 and 35 and about 70% of their clients are ladies. Client Relationship: According to Hgevold (2011, p. 384), IKEA does all the important exercises to keep up a sound connection with the client. This is the motivation behind why they have marked down the cost of their items according to the interest of clients. Channels: IKEA mostly does its business through retail outlets. They give restricted online assistance (Hellstrm and Nilsson, 2011, p. 640). Offers: IKEA effectively offers quality assistance inside a less cost. In any case, in China the estimating system of their items are commonly high. Key Activities: In China advertise IKEA needs to extend more and they have to speak with the clients through different internet based life locales. Distinct advantages: IKEA has been effective on this as they enlisted in excess of 120,000 individuals around the globe for their 315 stores. As indicated by Michael Sayeau (2009, p. 494), a year ago was one of the best year for the organization as they have had the option to create an income of 28.5 Billions of Euros. Key Partners: IKEA being one of the top most furniture organization brands has providers from practically various nations. 60% of their product are sourced from Europe, Asia and North America (Hultman et al. 2012, p. 14). Cost Structure: IKEA sources the product from practical sources so sourcing isn't that exorbitant for the association yet diminishing the cost in China has been expensive for the organization. Income Streams: As it is a furniture organization so its fundamental winning zones are from the lodging networks and eateries. Their modest rate and incredible item quality has made IKEA a well known easily recognized name in all over UK (Hellstrm and Nilsson, 2011, p. 640). Analysis of their plan of action: The fundamental issue with their plan of action that occasionally their value drives them to loses. In spite of the fact that the estimating framework is one of the significant income creating segments for the organization, still they need to make a few contemplations while working in nations li

Friday, August 21, 2020

Reducing Side Effects of ADHD Medicine in Children

Reducing Side Effects of ADHD Medicine in Children ADHD Treatment Print Coping With Side Effects of ADHD Medicine for Children By Keath Low Keath Low, MA, is a therapist and clinical scientist with the Carolina Institute for Developmental Disabilities at the University of North Carolina. She specializes in treatment of ADD/ADHD. Learn about our editorial policy Keath Low Updated on September 17, 2019 ADHD Overview Symptoms Causes Diagnosis Treatment Living With In Children Thanasis Zovoilis/Getty Images If your child is on medicine for his ADHD symptoms, you may hear some complaints about stomachaches or headaches. Some kids experience a decrease in appetite. Others begin to have difficulty falling asleep at night. These are all common side effects of stimulant medications. Though side effects may occur, especially in the first few weeks of treatment, most will disappear on their own as your child’s body adjusts to the medication. “For most children, the benefit of treatment outweighs any potential side effects,” says Michael Goldstein, MD, neurologist and vice president of the American Academy of Neurology. In the meantime, here are some simple strategies parents can implement to minimize common side effects. Managing Side Effects of ADHD Medications Stomach Aches To help reduce stomach complaints, have your child take his medicine with food or following a meal. Headaches Like stomachaches, headaches may be helped by taking the medication with food. Sometimes, however, headaches can be caused by a mineral deficiency; some children with ADHD have been found to be deficient in magnesium, which may result in headaches. What Experts Say “Equally important is to make sure your child is eating a balanced diet that is naturally rich in magnesium, B vitamins, and other helpful nutrients.”â€" Jennifer Shu, MD, a pediatrician and author. Decreased Appetite Give your child healthy, calorie-dense snacks throughout the day, especially at peak appetite times. Try apples or bananas with peanut butter, cheese, and crackers, protein bars, a hard-boiled egg, and a slice of toast, muffins and a glass of milk, etc. Additionally, you can talk with your child’s doctor about planning for the medication dosage to be taken after mealtimes. Difficulty Falling Asleep Sleep issues in children with ADHD are a common occurrence. Sometimes the stimulant medication affects sleep. Other times, the restlessness that accompanies ADHD causes difficulty falling asleep. A good sleep routine is also very important. Make this time is a special time. Begin to settle down about at least a half an hour before bedtime. While it might not be time to go up to bed yet, it is helpful to have your child engage in quiet activities. It can be hard to transition from playing basketball or a fast-paced computer game to going straight to bed. Have your child move to activities such as reading, putting together puzzles, or coloring in preparation for bedtime. Establish a bedtime routineâ€"have your child use the bathroom, wash his hands, brush his teeth, get into his pajamas, listen to soothing music, read a book, then say goodnight. Try to have your child go to bed at the same time each night and keep a regular wake-up time in the morning. If your child seems to have more difficulty falling asleep after starting medication, you may also want to ask their doctor if you can administer the medication earlier in the day or discontinue an afternoon or evening dose. How to Help Your Child Take Their ADHD Medication Contacting Your Childs Doctor If these strategies do not alleviate side effects, be sure to consult with your child’s doctor. Additional side effects that you will want to discuss include increased anxiety, irritability, and tics (involuntary motor or vocal movements, such as excessive eye blinking, facial grimaces, muscle tensing, coughing, throat clearing, etc.). The doctor may address the specific preparation of the stimulant, as this can be an important factor in managing side effects, particularly sleep disturbance and agitation/irritability. For example, Concerta (a long-acting Ritalin preparation) may be used in the morning with an addition of a short-acting Ritalin in the early afternoon to allow for fuller day coverage and an afternoon dose that wears off before bedtime. In addition, an individual may sometimes have more or less side effects on Ritalin (methylphenidate drug preparations) versus Adderall (amphetamine drug preparations). These are all issues your child’s doctor can assess. What Parents Need Before Stopping a Childs ADHD Medication

Sunday, May 24, 2020

Original Writing Original Position And Natural State

Original Position and Natural State John Rawls was an America philosopher whose idea was to develop an experiment for individuals to seek a fair notion of justice. Rawls experiment was a hypothetical one that engaged the individual to look at society and fairness from another perceptive. Individuals were to use their imagination and pretend that they were born into different lives, for example, if their mother was a single parent that worked two jobs just to put food on the table vs. the lavish life style one lives today. Society isn’t just, but if the individuals didn’t know their position or their background it could eliminate discrimination and give rise for equal opportunity for all. Rawls believed in the notion of the social contract theory, if everyone was in agreement they could form a sustainable society. Rawls proposed the government could possibly work for everyone, under these pretenses. Rawls had two key principles which focused on basic equality and liberty for each individual and fair educ ation and employment positions. Karl Marx approaches have influenced many social sciences. He focuses his works mainly on social classes and how they influence a person social life. He analyzed the classes as higher and lower, which the higher class didn’t suffer hardships financially and lived a life of envy. The lower class he identified as the individuals living in poverty or barely making ends meet. Under capitalism Marx thought society was unjust and eventually theShow MoreRelatedBiblical Inspiration Of Romeo And Juliet1491 Words   |  6 Pagesdefense against the charge: â€Å"If you could produce the original autographs of each book of the Old and New Testaments, then you could prove whether they were inspired or not. Otherwise, it is impossible.† We can assume from the statement that: 1) The one making it does not believe that the Bible is an inspired work, and 2) He knows that the original autographs have never been discovered. Thus he has attempted to box you into a no-win position. To that we can say, â€Å"You win.† You win if your objectiveRead MoreJoseph M. Juran s Life972 Words   |  4 Pagesaccomplishments. Using his natural gifts of intelligence, Juran went from being a poor immigrant to being known for his quality control expertise. He has also been known as the â€Å"father† of quality, and even a quality guru. This paper gives insight into Jurans life and how he was able to work his way up to his many accomplishments. Joseph was born in Braila, Romania in December of 1904. Five years later his father, Jakob Juran, departed Romania and came to the United States in order better the lifeRead MoreConstitutional Law And The Legal System830 Words   |  4 Pagesfoundation for our legal system is understandable. Constitutional law is not confined to the founding document as the sole source of our legal system. It includes the past rulings of the Supreme Court, as well as guidance given in the various writings of the original founding fathers and the precedence of Common Law. Thus Constitutional Law encompasses the entire sphere of American Jurisprudence and its continued evolution will have a resounding effect on both the rights and liberties of the individualRead MoreTalk Show Example Script1534 Words   |  7 Pagessentence with the same meaning but using different words. Paraphrasing is a very important skill for most English tests, including TOEFL iBT, IELTS and TOEIC Speaking and Writing. In TOEFL iBT, for instance, paraphrasing is an important skill in the reading section, in the listening section and, above all, in the speaking and writing sections of the test. Here is a quick example of paraphrasing using a phrase from the paragraph above: 1. Paraphrasing is a very important skill for most English testsRead MoreWhen Asking Oneself If The Original U.S Constitution Is1521 Words   |  7 Pagesthe original U.S Constitution is democratic, democracy itself must be defined. Democracy is defined as a form of government where all eligible citizens are able to participate equally, either directly, or through elected representatives-majority rule. The original U.S Constitution, including The Bill of Rights, as written is not necessarily a true democratic document, but it is rather a document that calls for more of a constitutional republic. This is true despite the fact that the original U.SRead MoreDifference Between Feminist And Social Contract Theory1967 Words   |  8 PagesContract Theories are. These two theories both try to solve the issues of equally and justice in similar yet different ways. In one of John Rawls writings, A Theory of Justice, discusses the theory of Social Contract Theory. In his writing, he believes that is the best approach to have justice in society is to have all the following concepts: The Original Position, Veil of Ignorance and two Principles of Justice. All the ideas that he comes up were inspired from Immanuel Kant’s Universal Moral Law. JohnRead MoreSocial Ideals Of The Justices Of Society And Historical Class Rankings911 Words   |  4 Pageson history. Next, I intend to share the reasoning behind my findings and that of the philosopher s ideas. Finally, I will share my appreciation for Karl Marx, as he has influenced my views thus far. Original Position and Natural State John Rawls s social experiment known as the Original Position is an imaginative perspective on how we perceive society. In his experiment every person; regardless of race, creed, wealth, power, religion, sex, or orientation would set forth the basic rules of survivalRead MoreAn Analysis of Candide Story by Voltaire1347 Words   |  6 Pagesseen closely in Voltaire writing style on page 378. Pangolss had an optimistic viewpoint and belief that the world was good, and that a powerful God had created the world. Pangloss also believed that if people believed something was evil or wrong, it is mainly because they did not have a close relationship with God. Although, it reflects the Enlightenment era it closely can be viewed to be translate from Romanticism style of writing. On page 378, line 5-7 states, â€Å"Pangloss gave instructionRead MoreComparison of Thomas Hobbes and Jean-Jacques Rousseau Essay1092 Words   |  5 Pagesworks of the 17th and 18th century philosophical writings of Thomas Hobbes and Jean-Jacques Rousseau. Through Thomas Hobbes world-renowned publication Leviathan and Rousseau’s discourses on basic political principals and concepts, each man validated their thoughts on human nature and what is required for a successful society within their respective government confines. The distinct differences between Hobbes and Rousseau’s opinions on the natural state of man frame the argument of the different parentingRead MoreThe Russian Revolution Of 19171563 Words   |  7 Pagesand Engels’ works and referenced them often in his writing. His wife Nadezhda wrote, ‘In his first big work, published illegally by him in 1894, â€Å"Who are the Friends of the People?† there are quotations from the â€Å"Com munist Manifesto,† the â€Å"Critique of Political Economy,† the â€Å"Poverty of Philosophy,† â€Å"German Ideology,† â€Å"The Letter of Marx to Ruge† in 1843, Engels’ books â€Å"Anti-Dà ¼hring† and â€Å"The Origin of the Family, Private Property and the State.†Ã¢â‚¬â„¢ Clearly he was an avid reader and brought Marx’s

Thursday, May 14, 2020

Curriculum leadership pack Free Essay Example, 4500 words

There are instances of advanced, innovative, motivating programs all over the country, yet they are merely a handful in number, normally are not imitated in ways that result into a widespread change, and the confirmation of our own familiarity suggests that few will endure the exceptional people who developed them. The reality is that progress further than what one or quite a few teachers can get done in their classrooms or school persists to escape us. Action Plan Physical educators of elementary students should construct a range of opportunities for students to gain knowledge, both inside and outside of the classroom. It is an error to restrict one’s perspective of physical education exclusively to the dimension of the physical. However, in spite of the appeals throughout the recent decades to incorporate physical education with other school subjects, numerous administrators and educators think of physical education as merely a recess period for the students and for the classroom teacher. The significance of physical education in an inclusive, integrated framework for education has been adequately documented (Penney et al. We will write a custom essay sample on Curriculum leadership pack or any topic specifically for you Only $17.96 $11.86/pageorder now 2005), and we should vigorously aim for this framework of integration if we intend to eliminate widespread beliefs, continue to exist as a discipline, and persist to have a constructive effect on students. Children have a normal inclination to seek knowledge though dynamic exploration. Moreover, quite a few children learn particular academic proficiencies and ideas more successfully through physical activity program. Taking into account these facts, it appears that the conventional school day was not planned with the children as the top priority. Apart from telling children to listen quietly and behave in an orderly manner, educators should be looking for means to make the most of the natural task of physical activity in encouraging students through using learning objectives that cater to the cognitive, emotional and psychomotor needs of children (Capel 2004). However, based on the inspection report sent, there is a bigger problem in educational outcomes as demonstrated in the results of the students’ performance in the two key stages of a physical education exercise. Nonetheless, an integrated physical education program will help in motivating students to perform better in physical education activities. Six strategies that will resolve the problems indicated in the inspection report will be laid out in this action plan; these strategies are also intended to guide the direction of the physical education program towards the attainment of an effective educational model for our elementary students.

Wednesday, May 6, 2020

The Ethics Of The Enron Scandal - 861 Words

More than a decade ago, one of the most commanding corporations in modern American history filed for bankruptcy. Enron, a seemingly invulnerable company would eventually provoke sweeping changes in regulation that controls the management and accounting of public companies even to this day. The Enron scandal has come to be known as one of the prime audit failures of all time and serves as a classic example of corporate greed and corruption. However, for the generation that watched in horror as corporations such as Enron fell along with the stock market, this scandal is slowly becoming just that: history. And for the newer generation of college students like me, it is almost ancient history. Despite the time that separates us from this scandal, it has never been more important to remember the lessons learned and best understand how the adoption of The Clarkson Principles can guide our careers in the business sector. The story of Enron is truly remarkable. As a company it merely controlled the electricity, natural gas and communications sectors of the world. It reported (key word, reported) revenues over one hundred billion US dollars and was presented America’s Most Innovative Company by Fortune magazine for six sequential years. But, with power comes greed and Enron from its inception employed people who set their eyes upon money, prestige, power or a combination of the three. The gluttony took over sectors which the company could not operate proficiently nor successfully.Show MoreRelatedThe Ethics Of The Enron Scandal1441 Words   |  6 Pages The definition of ethics is living one s life according to right or wrong behavior both towards others and themselves (Ghillyer, 2014). How a person derived to their beliefs of right or wrong is a direct reflection of several factors such as; family upbringing, and religious dynamics. Each of these characteristics plays a major role in the direct choices a person will make in their day to day lives. While some people can stand by their personal beliefs regardless of the situation, there areRead MoreThe Ethics Of Enron Scandal1017 Words   |  5 PagesThe Dilemma Often an ethical dilemma does not appear abruptly but can rather be the proverbial slow boiling of a frog as they say. Enron was an economic powerhouse in the early to late 90’s. Its financial success was due to a great understanding of the opportunities available in the energy market due to deregulation across the country. The company was founded on sound financial principles which turned to illegal recklessness over time. Key personnel succumbed to unethical pressures which built upRead MoreThe Ethics Of The Enron Scandal1902 Words   |  8 Pages Ethical Scrapbook In the three excerpts that will be discussed in this report there is a theme. That theme is ethics or the lack there of. What all three of these cases have in common is that people were willing to trade in their reputations, their livelihood and in some cases their personal freedom to get what they wanted. In two of the examples, the prize they sought was money, pure and simply a case of greed. Importantly, these people already had significant wealth, and they were willing toRead MoreBusiness Ethics : Enron Scandal1951 Words   |  8 PagesBusiness ethics have been the central concern of all corporations in operating business. Enron scandal was the highlighted case representing the dramatic violation of business ethics with the involvement of misusing power to conduct unethical missteps to gain self-interest, resulting in a collapse of the whole organization. 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There are standards and rules set in place to ensure that ethics and information is reported accurately. Laws and repercussions are created place to deter unethical and illegal accounting practices, although it still occurs in the business world on many levels. The field ofRead MoreWhat I Learned from Studying the Rise and Fall of Enron693 Words   |  3 Pagesand no need for regulations. But this is not an ideal world and these problems happen every day. The business world is not exempt from this problem. Many businesses rely on ethics to help guide their company successfully. Our textbook Business Ethics: How to Design and Manage Ethical Organizations Denis Collins defines ethics as, â€Å"the set of principles a person uses to determine whether an action is good or bad† (5). All over the world there are businesses that take part in unethical behavior forRead MoreJaclyn Givens. Kathy Osburn. Management 101. 5/8/17. 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One of the most widely reported emulation of accounting scandals is Enron Company. Enron Corporation is one of the largestRead MoreEnron and Worldcom Case Study1225 Words   |  5 PagesEnron and WorldCom Case Study This report is based on the demise of Enron Corporation and WorldCom. Both the firms are demised due to the ethical lapses. These ethical lapses come into existence when managements of the firm, uses unethical practices to accomplish the goals of the firm. Maintaining financial and accounting standards in the business practices are necessary. The profession of accounting has become a mockery due to the accounting scandals that took place all over the world in the

Tuesday, May 5, 2020

Report on The Oil Spill of BP Ltd

Question: Write a report on the oil spill of BP Ltd. What its adverse effects on the environment, biodiversity and the society. Answer: 1. Introduction The operations and regulations of every organization have direct or indirect effect on the environment, ecosystem and on the biodiversity of the earth (Freeman 2011). The provided case study is about the operation and regulation of a mining company named British Petroleum Ltd that is responsible for causing various direct damages to the environment and the ecosystem. Based on the case study, three issues have been identified that are caused by the particular company. These include firstly, the effect of the oil spill on the marine ecosystem, secondly, the lack of regulatory framework of the company hampers in the determination of the restoration cost and thirdly, the lack of integration of the services of ecosystems with the biodiversity in the process of the company for managing the risk. Therefore, this research has been performed for assessing the damages done by the firm to the ecosystem. 1.1 Purpose of the Report It has been found from the case study, that the particular firm British Petroleum Ltd is unable to determine the restoration cost, in turn they measure the damages caused to the environment and ecosystem in terms of monetary value. The lost of the social and ecological wealth is not considered as a matter of concern by the company. However, as oil spill is a non marketed product, large amount of attention is required for its valuation (Hoggett 2012). The government of the country made the firm British Petroleum Ltd accountable for bearing cleanup cost that results due to oil spill, though the firm has not depicted a clear picture of the damages caused by it to the social and ecological wealth. Thus, the purpose of this report is to make the firm concerned about the damages done by it due to oil spill to the social and ecological wealth. 1.2 Issues to be Discussed and their Significance Mainly three significant issues will be discussed in this report. These are: The effect of the oil spill of the company British Petroleum Ltd on the marine ecosystem. The lack of regulatory framework of the company BP Ltd hampers in the determination of the restoration cost. The lack of integration of the services of ecosystems with the biodiversity in the process of the company BP Ltd for managing the risk. 1.3 Research Methods There are mainly two types of research methods by implementing which the researcher can gather various data and information regarding the above stated issues. These are primary research and secondary research methods. In case of secondary research, the researcher will collect data from the secondary resources like published journals, articles, scientific research and company websites. On the other hand, in case of primary research the researcher can arrange for face-to-face or telephonic interview (qualitative analysis) and can also perform online or off-line questionnaire survey (quantitative analysis) to gather the data. 1.4 Limitations and Assumptions For collecting the data and information, the researcher has to gather the view of the residents of the area where the oil spill of BP Ltd took place that is in the region of Gulf and also have to gather the view point of the employees through the questionnaire survey. Here, the researcher might face limitation regarding collection of data as many of the respondents might not agree to fill the questionnaire. The employees of the firm might also suffer from dilemma before participating in the questionnaire survey. 2. Discussion 2.1 Literature Review 2.1.1 Effect of the oil spill of on the marine ecosystem Opined to Wolk, Dodd and Rozycki (2013), oil spill is considered as a type of pollution that is caused due to the human activity. The oil spill pollution can be of both types that are accidental and intentional. The accidental spills might cause due to various reasons but the oil spill that causes due to the negligence, ignorance and carelessness is considered as the intentional spill. According to Hoggett (2012), the adverse effect of the oil spill can be observed directly as it causes threat to the marine ecosystem. Therefore, Warren, Reeve and Duchac (2012) stated that the effect of oil spill is overwhelming and thus the management of the particular firm should bear the cleanup cost though they are unwilling to disclose the actual damages took place to the ecosystem due to their fault. As rightly stated by Horngren, Harrison and Oliver (2012), it is difficult to quantify the damages caused due to oil spill to the ecosystem and social wealth in terms of monetary value as well as ti me. The reason behind this is that till now no accurate measure has been identified for assessing the devastation of the services and goods. 2.1.2 Lack of regulatory framework in determining restoration cost Opined to Scott (2012), it has been found that most of the petroleum companies resolve the scale of penalties or fines for affecting or harming the social and ecological wealth by using the political bargaining, but it is not considered as the appropriate method. The method oriented system makes it compulsory for the organization to assess the associated risks and to plan properly for mitigating the hazards. Therefore, Glautier, Morris and Underdown (2011) stated that the particular approach should shift from regulators or government to the process. The main cause for the accidents like oil spill is the failure of the regulatory agency in providing the detailed account to the environment. According to Scott (2011), the disclosed information of the firm would be of vital importance for assessing the magnitude of effort for the process of restoration of the economic and ecological assets that are impaired temporarily. Thus, it can be said that the lack of regulatory framework hampers t he determination of the restoration cost and so a process oriented system is required to be implemented within every organization. 2.1.3 Lack of integration of the services of ecosystems for managing the risk In the ethical standards and in the moral of the company, the trusts of the stakeholders are reflected. Thus every company should become responsible towards the conservation of the social and ecological wealth. In addition to this, environment reporting standards and accounting standards are required for making the companies for reliable. Opined to Feldmann and Rupert (2012), the environmental accounting standards should be standardized so that it can provide an imminent into the relationship between the corporate sector and the environment. According to Hoggett (2012), it has been found that every business operation has an effect on the environment, thus the preparation of the standards for environmental accounting have become an essential factor. As per Freeman (2011), the requirement of the environmental accounting for operation and regulation of a business should be introduced as per the standard. 2.2 Method 2.2.1 Procedures The researcher has implemented both the primary and secondary research methods. For primary research, the researcher distributed the questionnaire to the employees of BP Ltd and the residents of the Gulf online through social media sites. In case of secondary research, data were collected from books, journals and articles. 2.2.2 Sample Size For accurate and easier calculation, the researcher has randomly selected a fixed sample size of 150 residents of the Gulf Coast and 50 employees of BP Ltd. 2.2.3 Selection Criteria The researcher has undertaken simple and random sampling technique for analyzing the problem statements. It can also be said that the researcher has focused on the probability sampling technique for performing the research (Devine 2012). 2.3 Discussion and Analysis of Data 2.3.1 Effect of the oil spill of on the marine ecosystem As per the data collected from the employees of the organization BP Ltd, oil spills can be of various types. These include the following: The above pie chart indicates the percentage and the type of oil spills that take place. These percentages indicate that effect of oil spills in marine ecosystem. The following graph indicates the high mortality rate of the marine ecosystems (highlighting the birds in the below graph). 2.3.2 Lack of regulatory framework in determining restoration cost As per the information collected from the employees of BP Ltd and based on the demand of the oil, the following graph indicates the increase in the supply of oil with the passage of time. With the increase in the demand, the workforce, contractors and employees of the organization also increases. But as the occurrence of oil spill increased, the workforce also reduced, representing in the following graph: As per the information gathered from the employees of BP Ltd, the Deepwater Horizon Oil Budget has been estimated as below: Lastly, from the employees disclose how the company resolves the scale of penalties or fines for affecting or harming the social and ecological wealth by using the political bargaining. The following graph indicates the lack of regulatory framework in determining restoration cost. 2.3.3 Lack of integration of the services of ecosystems for managing the risk As there is lack of integration of the services of ecosystem for managing risk, several accidental oil spills took place in oceans. This can be better understood from following chart: As, per the data collected from the residents of the Gulf the oil spill mainly affect the deepwater moratorium. The ratings of the other effects of the oil spill are shown in the following graph: 2.2.4 Reliability and Accuracy of Data This research has been completed based on the accurate data collected from both primary and secondary researches (Boateng 2013). The researcher will not use the gathered data and information for other purposes and will not disclose them in future. The participants can also rely on the researcher as he will not disclose their personal opinion (Deegan and Unerman 2011). 3. Conclusion Therefore, it can be concluded that the all the companies of oil including BP Ltd should become more concern about the adverse affects on the social and ecological wealth that take place due to their negligence and incidental oil spills. Paying penalties to the government for cleaning up is not sufficient for fulfilling the loss that takes place in the environment. 4. Recommendations Thus, it can be concluded the oil companies including BP Ltd should be more alert and the risk and management team should take proper steps to save the ecosystem and biodiversity. Therefore, some environmental accounting standards should be implemented in order to save the social and ecological wealth. References Boateng, P. (2013).Principles of accounting theory. [Place of publication not identified]: Dog Ear Publishing, Llc. Deegan, C. and Unerman, J. (2011).Financial accounting theory. Maidenhead, Berkshire: McGraw Hill Education. Devine, C. (2012).Accounting theory. Routledge. 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