The American Dream By James Truslow Adams - 1406 Words

This so called, â€Å"American dream.† Is it still around, waiting to be achieved by those who work hard enough? Is it effectively dead, killed off by the Great Recession and the economic struggling that many Americans have come to face in this day and age? There are alarming instances and facts, including trillions of dollars lost in the stock market (Paradise, 2009). These losses combined with the unquestionably high unemployment in the past few years, have contributed to seemingly dismal prospects for prosperity in the United States, I strongly support in the belief that the American dream is still very much alive. In fact, the original term â€Å"American Dream† was said during the Great Depression by James Truslow Adams, who wrote that the American dream â€Å"is that dream of a land in which life should be better and richer and fuller for everyone, with opportunity for each according to ability and achievement, regardless of social class or circumstances of birt h† (1931). I would say the American Dream today is a little different as the potential to work for an honest, secure way of life and save for the future. Many liberal economists and activists say that the American Dream is a lost cause as well as dead, but I would recommend to them that the American dream is more alive than it ever was before. It is the key to climbing out of the Great Recession, to overcome all odds and circumstances in one’s life and also to ultimately obtain â€Å"having it all.† Looking at our delicateShow MoreRelatedThe American Dream By James Truslow Adams1243 Words   |  5 Pagesspike in questionable practices further withheld the American Dream from those wishing to achieve it the way it was intended, through hard work and perseverance. In 1931, James Truslow Adams defined the American Dream, â€Å"life should be better and richer and fuller for everyone, with opportunity for each according to ability or achievement†, regardless of one s class or circumstances of birth. More and more people were being denied the American Dream every, yet they still strived to make something ofRead MoreThe American Dream By James Truslow Adams1130 Words   |  5 Pagesof the American Dream. The American Dream has changed dramatically over the few centuries. During the Founding Fathers’ time, many believed the American Dream meant freedom, equality, and mutual respect. Time has changed this ideology of the American Dream, which is now seen as owning a mill ion dollar mansion with multiple luxury cars. This isn’t the case for many immigrants who come to the Americas to have a better life for themselves and their family. To many of them, the American Dream is as simpleRead MoreJames Truslow Adams : The American Dream1800 Words   |  8 PagesThe American Dream The American Dream was something everyone wanted to achieve in the 1930’s; however, many people did not get there because they either gave up, or did not find what they were looking for. Many people were just looking to get away and find their own happiness so they made their own American Dream. As historian James Adams said ... a dream of motor cars and high wages merely, but a dream of social order in which each man and each woman shall be able to attain to the fullest statureRead MoreThe American Dream By James Truslow Adams Essay1886 Words   |  8 PagesJames Truslow Adams in 1931 coined the term â€Å"The American Dream† in his book The Epic of America (Michels, n.d., para. 1). He wrote of an America that offered freedom of religion, and speech, as well as political and social opportunities that few other countries offered. However, according to Eva Michels, â€Å"The American Dream† means something different for each individual, it refers to the way of li fe that Americans strive for and have equal rights to achieve regardless of social class or nationalityRead MoreThe American Dream By James Truslow Adams1707 Words   |  7 PagesThe American Dream, coined by James Truslow Adams in 1931, had been a popular term that had; given motivation to the dissatisfied, reduced the influence of race and one’s social position on achieving their goals, advertised America as a land that offered an abundant amount of possibilities that no other country could match, and unified the country under the same desire of wealth and prosperity, even in times of great despair. Adams had constructed the idea, â€Å"...that American dream of a better, richerRead MoreThe American Dream By James Truslow Adams803 Words   |  4 PagesThe term â€Å" The American Dream† can be coined to historian James Truslow Adams in the early 1930’s. Adams believed that the true commitment for the American society was based of material success that was o btained by individual competition of the citizens. Furthermore, stating that the American citizens had been conditioned to desire success, with an honest belief that it was possible for one to achieve it. This was possible because the very principles that American society represented, helped eachRead MoreThe American Dream By James Truslow Adams1500 Words   |  6 PagesThe American Dream is the sole reason that millions of people decided to come to this country, whether it be generations ago, or last week. But even so, this shared dream faces problems. To solve the problem, the American Dream has to be defined. James Truslow Adams, author of the 1931 book The Epic of America, was the first person to mention and therefore define the American Dream. He established it as: â€Å"[T]hat dream of a land in which life should be better and richer and fuller for everyone, withRead MoreJames Truslow Adams And The American Dream1392 Words   |  6 Pages While the idea of the American Dream became more popular during the 17th to 20th centuries, the achievability remained elusive due to a static and hierarchical social order that prevailed throughout this time. Thus, the tireless claims of the New Left for a reformed society are supported by the unchanging accessibility of the American Dream. In his book The Epic of America (1931), James Truslow Adams defined the American Dream as â€Å"that dream of a land in which life should be better and richer andRead MoreJames Truslow Adams And The American Dream1371 Words   |  6 Pagesand dreams. Although this is a simple concept, how one must work to achieve these goals is much more complicated. Everyone is born into a different situation and the opportunities they are exposed to differ depending on the person. The original idea of the â€Å"American Dream† supported the idea that all American citizens are able to obtain a better life than they are currently living; however, that idea is continuously changing and many interpret their own dream in different ways. James Truslow AdamsRead MoreThe American Dream By James Truslow Adams1577 Words   |  7 PagesThe American Dream Lives On Since 1776, the â€Å"American Dream† has continued to evolve. Originally, our forefathers intended the American Dream to be a country where individuals were free from the tyranny of royalty and nobility, working as a part of a whole, making everyone comfortable and happy - all men created equal with equal opportunity. Over the years, this original intent has continued to change. In 1931, James Truslow Adams stated that the American Dream means that, â€Å"life should be better

Southwest Internal Analysis Free Essays

Southwest Airlines Internal Analysis Introduction This internal business analysis is on Southwest Airlines, which was founded in 1967 by Rollin King and Herb Kelleher. The main focus for Southwest Airlines was to provide low cost flights for their customers, and also have exceptional customer satisfaction. Southwest is a leading airline company that continues to do well in an industry that has been historically challenging. We will write a custom essay sample on Southwest Internal Analysis or any similar topic only for you Order Now For instance, in the span of two years (2005-2007) five major airlines have filed for bankruptcy. The challenges are great in the airline industry, because competitors are trying to imitate the â€Å"low-cost† offering of Southwest. Many companies have tried to do what Southwest has done, and many have failed to stay in business. Surprisingly, many of those companies were started by ex-employees of Southwest. Southwest currently has a profitability record for the past thirty six years, which is spectacular in such a challenging industry. Herb Kelleher has been replaced by Gary C. Kelly, as the president when he resigned in May of 2008. Southwest is in the process of expanding the locations they serve so that they can increase market share, and also find ways to cut costs without losing their quality. In order for southwest to continue their consecutive financial success there is a necessity for excellence in the execution process of their strategy. Business Level Strategy The business level strategy (BLS) that Southwest focuses on is Cost Leadership. They are the leading airline in the United States for providing low-cost fares to their broad customer base. Southwest has found innovative ways to reduce cost within their cost structure enabling them to offer lower fares than competitors and still maintain a profit. One way that has helped Southwest save time and money is their standardization of their airline fleet. This tactic is known as the â€Å"one-model-fleet† by the airline. Having a single airplane model in a fleet has allowed Southwest to â€Å"lower inventory, record keeping and maintenance costs, and it minimizes the number of technical manuals, tools and spare parts. † Another methodology that has layed an important role in their thirty six years of profitability is their fuel hedging practices they’ve practiced since the late nineties. This tactic has saved the company millions of dollars, and in 2007 alone has saved the company 727 million dollars. Another cost saving measure that Southwest has implemented is the use of blended winglets on all of their 737-700’s models. This change is supposed to improve performance by extending the airplanes range, saving fuel, and lowering engine maintenance costs and reducing takeoff noise. More recently, Southwest began to use EcoPower engine wash services. This is going to allow Southwest to save an estimated $20 million dollars in fuel costs. All of these tactics by Southwest are designed to save on expenses that they incur doing business. Many airlines cut cost by laying off employees, but Southwest has established a â€Å"no layoff policy† that is currently still in effect. This shows how committed the company is to their employees, and how they are an integral part of their business. Resources Southwest has plenty of resources that have contributed to their success as an airline company. Their intangible resources have created their competitive advantage in relation to their competitors. The reason for that is the simple fact that their tangible resources are not difficult to replicate. It’s the technique that Southwest uses to connect their resources that has enabled them to be successful in the airline industry. Their tangible and intangible resources are as follows: Tangible: The main tangible resources that Southwest has are its training center, employees, headquarter facility, acquisitions, partnerships, take off and landing spots, frequent flyer reward program, self-service check-in kiosks, and their fleet aircrafts. In 1986, Southwest opened a multi-million dollar training center for their flight crews. As all businesses, employees are necessary if you’re conducting business on a large scale. The connection between Southwest and its customers are their employees, which makes the employees role that much more important. Although, the employees are tangible, the culture of the employees is intangible aspect that has been difficult for competitors to imitate. The training center for their employees was an investment Southwest made early on knowing its importance to the long term success for the company. The headquarters for Southwest is another tangible resource, which is located in Dallas. The headquarter similar to many other companies allow top management to effectively communicate the organizational goals of the company. Acquisitions and partnerships that Southwest has completed throughout their duration allow the company to expand their services to more than 64 cities in the United States, and obtain more take-off and landing spots. The frequent flyer program is another tangible resource that Southwest possesses, but interestingly has not had a major impact on Southwest’s bottom line. With the help of IBM, Southwest was able to offer about 250 self-service check-in kiosks. The reason for having the kiosks for their customers was to reduce the amount of time the customers spend in line and to improve the airport experience. In the very beginning, Southwest only had 3 Boeings in their lineup but now they have more than 243 aircrafts in their lineup. Intangible: The main intangible resources that Southwest has are its brand, unique culture, and reputation. Southwest has a brand that is known widely when referencing the airplane industry. The brand that they represent is one that is reliable, convenient, employee centered, customer oriented, and at the same time providing a low cost alternative to their customers. This has helped dramatically in their formation of their culture, because even in the beginning their main focus has been on its employees. Southwest has a culture that is unmatched in the industry, and one of the main reasons they have been wildly successful in a challenging environment. Early on Southwest made the decision to sell one of their airplanes rather than laying off their employees to show their loyalty to its employees. All of these factors have enabled the company to maintain a reputation that is respected among the industry. The reputation that they have has enabled them to reap the benefits of being recognized as a leader in the industry. For example, Southwest has earned several Triple Crown awards, which is an award for having the best on-time record, best baggage handling, and fewest customer complaints. Outcomes from Combinations of the Criteria for Sustainable Competitive Advantage: Is the Resource of Capability Valuable? | Is the Resource or Capability Rare? | Is the Resource or Capability Costly to imitate? Is the Resource or Capability Nonsubstitutable? | Competitive Consequences| Performance Implications| No| No| No| No| Competitive disadvantage| Below-average returns| Yes| No| No| Yes/No| Competitive parity| Average returns| Yes| Yes| No| Yes/No| Temporary competitive advantage| Average returns to above-average returns| Yes| Yes| Yes| Yes/No| Sustainable competitive advantage| Above-ave rage returns| Result from the chart: Capabilities The capabilities of Southwest Airlines are the origin of the firm’s ability to create a competitive advantage over other airlines in industry. Southwest focuses on three main functional areas within the organization, which are management, human resources, and marketing. Management The management capabilities of Southwest Airlines are the main reason why the company has been so profitable, utilizing an effective low cost organizational structure throughout the entirety of the company. Using only one type of plane fleet, the Boeing 737 series, which allows minimizing inventory and resources needed for training, maintenance, parts, and is also a very reliable plane. This helps in the quick turnaround times at the gates, which keeps more planes in the air at any given point in time. In the 1990’s Southwest employed an aggressive fuel hedging tactic saving the company millions of dollars in hard times, while still being able to provide low ticket prices to consumers. Another important area management focuses on is the management of human resources that emphasis both employees and customer alike. Human Resources Focusing on customer service, Southwest Airlines opened a multi-million dollar training facility for its flight crews in 1986. The heart of this training facility is to promote human capitol and share knowledge throughout company. By focusing first on their own employees, southwest can ensure that the employees will then focus on the customer. Through motivation and empowerment in the training of its employees, Southwest can provide customers a comfortable experience while retaining employees and making it hard for competitors imitate. This is proven with its Triple Crown Award for best on-time record, best baggage handling, and least customer complaints. Marketing One way to promote value and differentiate itself from competitors is Southwest’s humorous advertisements. Exercising the LUV ticker symbol, Southwest promotes its customer driven services and prices. While in the late 1980’s Southwest started a rewards program that has retained loyal customers, but has not been proven successful for leisure travelers. With the low cost abilities, timeliness flights, rewards, and focus on the customer, Southwest Airlines has carried out an exceptional marketing strategy. Core Competencies Employee Loyalty Within the first two years of operation Southwest suffered huge losses and had to make some major financial decisions. These decisions lead to the selling off an aircraft and keep all of the employees created the â€Å"no lay off policy†. Then in 1973 Southwest was one of the first companies to incorporate profit sharing where employees owned at least 8% of the company stock. This leads to higher employee satisfaction, retention rate, and increases the want for the company to do well, this way the employees focus more on creating value for the customer. Management Skills Southwest Airlines management has tailored numerous sets of activities around a low cost structure creating value for the customer. With short domestic, point-to-point flights, no additional in flight features and no seat reservations allows for a short turnaround time, which makes for less crowded airports and maximizes flight time. Along with fuel hedging and low maintenance costs, the design of these best-fit activities show that the excellent management skills are a core competency that creates a competitive advantage over other airlines. Conclusion Through the intertwining of its resources, Southwest Airlines has created a unique set of capabilities and competencies that has continuously allowed successful implementation of its business level strategy. With a focus on low-cost leadership and customer service, Southwest Airlines creates value with reliable on-time departures and a unique company culture. This provides a sustainable competitive advantage that is hard for competitors to imitate and provides a string foundation for Southwest Airlines’ future success. How to cite Southwest Internal Analysis, Essay examples

Accounting in Statistics Business Research Method

Question: Discuss about theAccounting in Statistics Business Research Method. Answer: Introduction: The more and more Australian companies are including a section of performance highlight in their annual reports. This snaps shot provides a summary of the annual performance of the companies. This is not a statutory requirement so management of the company has full discretion whether to include the performance highlight in the report and the earning figures that are to be shown in the highlight (Business Insider 2016). The management can choose the GAAP earning measures or the Non GAAP earning measures or combination of both to be shown in the performance highlight section of the report. The GAAP earning are calculated based on accounting standards and the non-GAAP earnings are not based on accounting standards (Curtis et al. 2013). The non-GAAP earning generally excludes certain earnings and transactions that are required to be included in accordance with the International Financial Reporting Standard. It has been found that inclusion of the non-GAAP financial measures helps investors to better analyse the company. This report intends to show the importance of declaring the Non GAAP earning and to study its implications. Literature Review The organisations performance, financial conditions and cash flow can be better analysed if the non-GAAP earning are disclosed. There are studies conducted that have shown that inclusion of the non proforma earning helps to reduce error in the forecasted value and is also helpful in reducing dispersion in the year (Johnson et al. 2014). The research also shows that use of non-GAAP earning cautions the investors in the fundamental analysis of the company. The companies are required to declare whether the assumptions are based on historical data or future measures. The companies are also required to declare the assumptions that are not in accordance with the Generally Accepted Accounting Principle (Malone et al. 2016). Empirical Evidence The empirical evidence to show the effectiveness of GAAP regulations is mixed. It is found by many that the Non GAAP earnings are significantly higher than the GAAP earning therefore it is believed by many that the investors are misled by those higher figures. There are others who opines that the notion that investors are misled by the Non GAAP disclosure are unjustified and doubtful. Experimental Approach The recent behavioural research has shown that the judgement of the non professional investors are influenced by the presence of Non GAAP earnings before GAAP earnings. The study conducted by the Moser in 1989 found that the assessment of whether the earning of a company will increase depends on the order of information provided. The recent research conducted by the Elliot in 2006 found that non-professional investors are influenced by the emphasis put by management on the Non GAAP earnings. This is mitigated by the presence of a quantitative reconciliation. Research Questions and Hypotheses Research Questions The problems that are relevant to the recent problems are prepared in the form of questions in this report: What are the issues of financial reporting related to present GAAP standards? What disclosures are essential that are to be made in the non GAAP financial reporting? What are the disclosure requirement in the non GAAP accounting standards that are not included in the GAAP standard? Who are the stakeholders that will benefit from the Non GAAP financial reporting? Hypotheses H-1: The existence of the GAAP and the non-GAAP in the financial report helps investors to analyse the financial statements better. H-0: The existence of the GAAP and Non GAAP disclosure will not benefit the investors in analysing the financial statements. Operational Definitions and Measurement The two companies Quantas Group and Perficient Inc are chosen from the ASX. The GAAP and Non GAAP earnings that are highlighted in their annual accounts report and are used to measure their performance (Phx.corporate-ir.net 2016). Research Methodologies: Data Collection and Analysis Sampling Techniques The primary method of collecting data is the qualitative analysis of various issues that are discussed in the contemporary accounting. The research are conducted by collecting data from different sources so that various component of the non GAAP financial reporting could be known. The primary data that are collected is based on the interview conducted of various investors. In order to decide the usefulness of the disclosure of Non GAAP earning various journals, articles, websites and the financial reports of the companies are analysed (Skadden et al. 2012). The journals are reviewed to show the importance of disclosure of Non GAAP earning. The journals of Elizabeth A. Rains bury The impact of the FMA guidelines of Non GAAP earning disclosure was studied. Further the journal of Bowen, R.M., Davis, A.K. and Matsumoto Emphasis on pro forma versus GAAP earnings in quarterly press releases: Determinants, SEC intervention, and market reactions was studied and analysed. The primary sources of collecting the informations are to extract it from the annual report of the companies (Rainsbury and Hart 2014). Method of Analysis The data analysis techniques used are based on simple and random sampling. The simple random technique is best suited for analysing the financial informations using GAAP. The sample datas are collected based on both the positive and negative response relating to the benefits of the non-GAAP disclosures. In the method of conducting the research, the first step is to identify the several issues that are present in the GAAP standard of reporting the financial information. The importances of the non-GAAP financial declarations are also identified. These analyses are conducted by collecting primary data through questionary method. The importance of the non-GAAP reportings are analysed through reviewing journals (Venter et al. 2014). Research Process The research processes that are followed to answer the questions raised in the research proposal and to support the hypothesis. The first stage in the research is to determine the GAAP requirement. The second stage is to ascertain the non-GAAP disclosure requirement so that GAAP and Non GAAP information can be compared and evaluated. Then by using sampling techniques two companies are chosen from the Australian Stock Exchange to conduct the research. The listed companies are required to follow the GAAP method of reporting so the companies that provided proforma income along with GAAP income should be selected from the stock exchange for research. The companies that are selected are then analysed based on the data obtained from the interview of non-professional investors. The reported income under the GAAP and Non GAAP requirements are also analysed in the light of the financial information need of the investor. The aim of the research process is to help answer the question raised in the report and to address the hypothesis. Expected Outcomes After the research is conducted, it is expected that all the research questions raised will be answered. It is expected that the role of the directors in proving the non-gap informations will be substantially analysed. The research will also help to answer the usefulness of the non-gap informations. The research aims to clearly answer the difference between the GAAP and Non GAAP financial requirements. It is expected that after the research is conducted the hypothesis that the investors will be benefited from the inclusion of the Non GAAP informations will be prove to be corrected. Conclusion It can be concluded that the above research will help to understand the difference between the GAAP and Non GAAP requirements of the standards. The research questions and hypothesis that are raised in the research will be adequately addressed through the research procedures applied. References Business Insider. (2016). Chart of the Day: Here's How You Should Think About 'Adjusted' Earnings. [online] Available at: https://www.businessinsider.in/CHART-OF-THE-DAY-Heres-How-You-Should-Think-About-Adjusted-Earnings/articleshow/27979957.cms [Accessed 15 Aug. 2016]. Curtis, A.B., McVay, S.E. and Whipple, B.C., 2013. The disclosure of Non-GAAP earnings information in the presence of transitory gains. The Accounting Review, 89(3), pp.933-958. Johnson, A., Percy, M., Stevensonà ¢Ã¢â€š ¬Ã‚ Clarke, P. and Cameron, R., 2014. The Impact of the Disclosure of Nonà ¢Ã¢â€š ¬Ã‚ GAAP Earnings in Australian Annual Reports on Nonà ¢Ã¢â€š ¬Ã‚ Sophisticated Users. Australian Accounting Review, 24(3), pp.207-217. Malone, L., Tarca, A. and Wee, M., 2016. IFRS nonà ¢Ã¢â€š ¬Ã‚ GAAP earnings disclosures and fair value measurement. Accounting Finance, 56(1), pp.59-97. Phx.corporate-ir.net.(2016).Perficient-InvestorRelations -Financial Reports. [online] Available at: https://phx.corporate-ir.net/phoenix.zhtml%3Fc%3D83872%26p%3Dirol-reports [Accessed 15 Aug. 2016]. Rainsbury, E.A. and Hart, C., 2014. The Impact of the FMA Guidelines of Non-GAAP Earnings Disclosures. Unpublished working paper. Skadden, A., Slate, M. and Flom, L.L.P., 2012. Corporate Finance Alert. Venter, E.R., Emanuel, D. and Cahan, S.F., 2014. The Value Relevance of Mandatory Nonà ¢Ã¢â€š ¬Ã‚ GAAP Earnings. Abacus, 50(1), pp.1-24.