Why Sex With Boss Is a Bad Idea for Your Career

He may be attractive and give you all the right signals, but having sex with the boss is a bad idea and a potential career killer. Youre not living in isolation with him on a desert island, but sharing a workplace where your illicit relationship affects everyone. Many companies have clear policies on office dating and while relationships between co-workers have become commonplace, an employees affair with the boss still continues to be frowned upon. Even if it turns into something serious and long-lasting, chances are one of you will have to go. Power Playmate Look beyond the physical act of sex with your boss and youll see that power is at the heart of the relationship. Writing for the Times Online, Susie Godson sums it up as a power trip and a huge ego boost and adds, Peel away the perks and what exactly are you left with? The inequity of power, desire to associate with power or attain more power all factor into the situation. Theres also the power that comes from flying in the face of convention and sampling forbidden fruit. Stop and ask yourself: If he wasnt your boss, would you still be attracted to him? Are the excitement and passion based on the fact that although he has control over your life and career, you feel like you have control over him? Do you think that if you sleep with him, hell fast-track you to the top or at least promote you or give you a raise? Or do you just like the buzz that follows you around the workplace because co-workers sense that theres something more to your relationship than supervisor and subordinate? Sex as a Skill Set Sex clouds everyones judgment. You may have been hired because of your skills, your experience, your talent, drive, and enthusiasm. But when youre involved with the boss, you may find your competence in question. Opportunities that come your way, successes you achieve, goals you meet and exceed -- all may be perceived as arising out of your special relationship with the boss and not your own hard work. You may not get credit where credit is due. And if you end up working for someone else in the same company, that person may be reluctant to believe that youve gotten to where you are based on merit alone. Youll have that relationship with your ex-boss hanging over your head, and it may stunt your career advancement under future supervisors. Some Girl or Another The odds are against an enduring relationship. And when it falls apart, it probably wont wrap itself up with all loose ends tucked in neatly and both parties acting like adults. If the two of you remain in the same workplace and hes still your boss, therell be jealousy on one end or the other, and its going to affect your professional relationship and judgment. He may stall your career out of spite, revenge, or simply because he can, or behave in ways that make it difficult to continue to work for him. Or you may have to sit back, bite your tongue, and watch him launch another steamy affair with someone new under him (in more ways than one.) Because heres the painful truth: many bosses who sleep with their employees dont do it just once. Theyre serial subordinate seducers. As much as youd like to think that youre special -- the irresistible one he broke all the rules for—its probably not that way. As journalist Dominique Jackson observed in her article An Affair to Forget in Marie Claire, she found out she wasnt the only one to fall for her sexy, dazzling boss when she had dinner with a colleague of his: Great guy. Excellent writer. Underrated, too, said my companion. Trouble is, he always has some girl or other in tow. Usually one of the junior journalists or a secretary. I really dont know how his wife puts up with it. No Employees With Benefits From a purely business standpoint, the relationship is a no-win situation for the company you work for, even if you end up together. Human resources professional Laurie Ruettimann, the founder of Punk Rock HR, says that companies frame the issue of dating under Code of Conduct policies: As an employee, you are not allowed to personally benefit from your role at the office at the expense of the organization. Therefore, you are not allowed to sleep with a subordinate and continue supervising his/her work. Additionally, most companies will not allow you to supervise your family members. The way a friend with benefits is a tricky relationship to manage, an employee with benefits is a liability to the boss who has exceeded the bounds of appropriate behavior and has opened himself up to charges of sexual harassment, even if the sex was consensual. So sex with the boss jeopardizes his position as well as yours. But just suppose its the real thing? After all, according to the Times Online, four out of every ten people meet their spouses at the office. Lets say hes the one. Even if your wildest fantasies come true and you two get married, he cannot continue to supervise you. Someones going to have to leave, and its probably not going to be the boss. Think Before You Act Keep in mind that sex with the boss may poison any other potential future relationships with your co-workers. And since work continues to be the main way in which we meet, socialize with, and get to know people, that would shut the door to many opportunities, both platonic and romantic. As Ruettiman points out, I met my husband at work and weve been together for over a decade. My career wasnt impacted because I am not a drama queen. I used common sense and kept my private dalliances out of my professional role. And finally, for those who say that its sexist to assume the boss is male (since over 36 percent of managers and supervisors are female) and want to view this issue from the perspective of a boss whos female, the truth is theres little difference. The same rules apply. The best advice for any boss, female or male, comes from Marty Nemko in his tips for workplace dating in U.S. News World Report: Think twice about a relationship with your supervisor...Think 10 times before getting involved with a subordinate.

The Parting Breath Of The Now Perfect Woman - 1137 Words

Lebanese Author Sandra Chami Kassis said, â€Å"Don’t brag about being perfect†¦ imperfections are what make you attractive† (online). Most people believe that their imperfections make them much less attractive which may cause them to develop diffidence and insecurities. Generally, when people think of imperfections they think of physical features such as a facial birthmark, a narrow nose, thin hair, and big feet, but why do people spend so much time focusing on those things that set them apart from others? It is believed by many that everyone on earth is born with a specific plan and purpose created for them, and with that purpose must come the substantial appearance of individuality which will inevitably include bodily flaws. In his essay, â€Å"The Parting Breath of the Now-Perfect Woman,† Chester McCovey discusses the underlying meaning of Nathaniel Hawthorne’s story â€Å"The Birthmark† in hopes of enlightening readers that all people have imperfections. In today’s society, people try so hard to look identical to those who are held on a high pedestal for being beautiful that some even resort to changing their body parts such as their lips and waist-lines as means to remove or â€Å"fix† any visible imperfections, taking away their individuality. It is vital for everyone to embrace their imperfections and learn who they truly are in spite of them; therefore, parents must teach children that their imperfections make them who they are as individuals. It is not uncommon to see celebritiesShow MoreRelatedA Comparison Of â€Å"The Birthmark† By Nathaniel Hawthorne1148 Words   |  5 Pagesidea of perfection. The short story â€Å"The Birthmark† written by Nathaniel Hawthorne and the poem â€Å"Barbie Doll† written by Marge Piercy have almost the exact same theme because both of these short works of fiction are about a woman that is influenced by her peers to become perfect and does anyt hing possible to reach society’s idea of beauty and perfection. The protagonists in both of the literary pieces are dealing with extremely similar problems. In the short story â€Å"The Birthmark,† Georgiana is informedRead MoreAnalysis Of Hawthorne s Conception Of Human Nature Through His Stories1347 Words   |  6 Pageswithin them and to be their â€Å"only happiness†. He also is aware that everyone can be a dark sinner, and have given grave examples of â€Å"how hoary-bearded elders of the church have whispered wanton words to the young maids of their households; how many a woman, eager for widows weeds, has given her husband a drink at bedtime and let him sleep his last sleep in her bosom; how beardless youths have made haste to inherit their fathers wealth; and how fair damsels—blush not, sweet ones—have dug little gravesRead MoreEssay about Analysis of quot;The Birthmarkquot;963 Words   |  4 Pagesappearances--it may be our own personal appearance defined by the perfect clothes and the perfect look, the perfect home we live in, or the perfect car we absolutely must have. People today are no different today than they were in the 19th century, and we get an in depth understanding of the obsession with being perfect in Nathaniel Hawthornes The Birthmark. This short story is about a devoted scientist who marries a beautiful woman with a single physical flaw; a birthmark on her face. Aylmer becomesRead MoreDreams And Desire : Synthesizing, The Interpretation Of Dreams, And The Birthmark854 Words   |  4 Pageshad grappled with the mystery of life, and was the bond by which an angelic spirit kept itself in union with a mortal frame. As the last crimson tint of the birthmark-that sole token of human imperfection-faded from her cheek, the parting breath of the now perfect woman passed into the atmosphere, and her soul, lingering a moment near her husband, took its heavenward flight (214). There was a force of nature impacting Aylmer’s desires. The resolution of the story suggests that there was a supernaturalRead MoreShort Story : The N Hard Man 924 Words   |  4 Pageshard man. At least I have a time period, and characters. Thanks Hiro! -Year x377- [Narrator POV] It was a day in the middle of spring, and it couldn t have been more perfect, for it had been raining for many days previous. As if the universe new the events that were about to unfold, and wanted to give the children a final parting gift, for it was their final day in this time. There was a village filled, with blue haired individuals, itching in anticipation as they watched the gate, and those whoRead MoreAnalysis Of The Poem The Birthmark By Nathaniel Hawthorne1651 Words   |  7 PagesHumans possess the desire to be perfect, which simply does not exist on earth and can only be achieved in dreams or in death and is explained in â€Å"The Birthmark† by Nathaniel Hawthorne. Despite wanting to be perfect, humans also desire the need to love and to be loved in return, which often leads to unhappy, bad, forceful relationships as expressed in â€Å"Living In Sin† by Adrienne Rich. Within our human lives we often desire to be labeled by who and what we are so we can kno w our place in this world;Read MoreHawthorne and The Birthmark: No Judgment Intended Essay1670 Words   |  7 PagesHawthorne uses his most powerful imagery. â€Å"Aylmer had converted those smoky, dingy, sombre rooms, where he had spent his brightest years in recondite pursuits, into a series of beautiful apartments not unfit to be the secluded abode of a lovely woman† (653). Hawthorne uses these sensory words such as â€Å"smoky† and â€Å"dingy† to make sure his audience understands the atmosphere of his story. These words have a negative connotation, which ultimately creates the mood of his story; completelyRead MoreStructural and Textural Irony Essay999 Words   |  4 Pagesof Georgianas fate. An intriguing structural irony that enhances the depth of this short story is described in the line, As the last crimson tint of the birth-mark -that sole token of human imperfection -faded from her check, the parting breath of the now perfect woman passed ... As Georgianas death is being depicted to the readers, it becomes obvious that the overpowering irony present in this story is that perfection is not suppose to be obtainable by humans. Therefore rather than living as imperfectRead MoreDescriptive Essay - Original Writing1747 Words   |  7 PagesHe ended the kiss, but pressed his forehead to mine, as we both tried to regain some control. â€Å"I think,† I said between breaths, â€Å"you want to fuck me up against your car.† His eyes met mine, â€Å"I have never wanted anyone, as much as I want you right now,† he said kissing me deeply once more. Gently, I pushed him back, â€Å"Well, as I’m sure neither of us want to be arrested for lewd acts, maybe we should go.† Tom nodded and opened the passenger side door. I pushed myself up from leaning on the car andRead MoreThe Themes of Emily Dickinsons Poetry3970 Words   |  16 Pageswrite about passion she could not have and the prior love affairs and the men she longed for but could not attain. This longing and pain usually turned into self-pity in her poems. Dickinsons most famous love poem, I cannot live with you, is a perfect example of longing for love and self-pity. In the poem the speaker is describing different lives she and her lover cannot share together. The couple cant live in the world together, they cant die together, they cant rise after death together, and

Gulliver´s Travels by Jonathan Swift Biographical Summary

Gulliver’s Travels – Jonathan Swift – Biographical Summary Jonathan Swift was born on November 30, 1667 in Ireland to English parents, Jonathan and Abigail. His father, Jonathan, died shortly after his birth, leaving his mother to raise him and his sister alone. In Ireland, Swift was dependent on a nanny for three years because his mother moved to England. The young man was educated because of the patronage of his Uncle, Godwin Swift. Godwin sent him to Kilkenny Grammar School at age six, which was one of the best primary schools in Ireland at the time. Although the transition from extreme poverty to a private school education was hard, he made it easier by becoming friends with William Congreve, a future poet. Godwin paid for Jonathan, at age fourteen, to attend Trinity College at Dublin where he completed his Bachelors Degree. Swift later completed his M. A. at Oxford in 1692. â€Å"In 1701 Swift was awarded a D. D. from Dublin University†, which is o ne notable award that Swift received during his career (Cody). Swift’s mother, in an effort to help Jonathan become successful, sent him to work as a secretary under Sir William Temple, an established essayist and graduate from Cambridge. Because Temple was a prominent parliamentary figure, Swift was exposed to a great deal of literature during this time period (1689-1699), which helped shape his books later on. While working under Sir William Temple, Swift lived in Moor Park, Farnham. During his time living at Moor Park heShow MoreRelatedBiographical Summary : Jonathan Swift1982 Words   |  8 PagesBiographical Summary Jonathan Swift was born in the land of Dublin, Ireland on November 30th, 1667. Swift was born to English parents, Jonathan and Abigale Swift. Unfortunately, Swift’s father passed away before his son’s birth. At the age of three, Swift was raised by his late father’s family. He attended Kilkenny Grammar School with fellow student William Congreve, who would later become a dramatist. From there, Swift moved on to attend Trinity College in Dublin and Hart Hall in Oxford. Swift

Human Resource Management An Organization - 1524 Words

Due to changes in the work environment to include globalization, technological changes, and tougher competition, Human Resource Management has taken on roles that have intermeshed them with the company as a strategic partner rather than just an individualized operating type system focused on simple tasks. Critical to a corporation’s growth and success is their ability to gain a competitive edge. Superior Human Resource Management assists the organizations fulfill its goals and attain success. This paper will outline why it is essential for Human Resource Management to transform beyond its administrative and operational functions to a strategic partner within an organization. Human Resource Management is the backbone of an organization.†¦show more content†¦Human Resource Management has been changing for several years. The move from personnel to human resources, for example, was part of the movement to acknowledge the value of employees as an organizational resource, and was an attempt to remove some of the stigma that was coming to be associated with slow, bureaucratic personnel departments† (May, 1998, para. 2). With this change, HR took on a strategic role by providing business decisions that would bring employees to the forefront. Strategic HR focuses on both the internal and external relationships versus just the employee relationships found under the traditional function. This allows for them to have an understanding of the factors that affect employees, allowing analyzing of personnel rather than solely the relationships providing a systematic approach at all levels rather than just at the lowest (Rao, 2012). Merely acting in a support role as seen in the older models of the HR function will not lead a business to soar in productivity or reach increased profit margins; in fact, the opposite may be true. An industry may see a decrease as it may find itself on the losing end. â€Å"The most effective way we know to change the calculus is to develop a measurement system designed to link people, strategy, and performance† (Becker, Huselid Ulrich, 2001, p. xii). Strategic HRM works to incorporate all of the traditional roles with

Medicine in Colonial America Free Essays

Medicine in Colonial America was much different from today, but gave us a lot of insight in the human body’s needs. Due to lack of education, experience, proper tools, and hygiene, many patients died. However, there were also many people who were saved through the medical procedures and lived full and healthy lives. We will write a custom essay sample on Medicine in Colonial America or any similar topic only for you Order Now Few doctors in Colonial America actually received a formal education through a medical school, because there was really only one school: the Pennsylvania Hospital (Rorke, n. d. ). This program was far too expensive and for some located too far away, thus they could not attend. Furthermore, because of the lack of complete knowledge, these schools would not have provided any more information than one would obtain by learning from another doctor, which in most cases would be a much cheaper education, thus, most doctors learned through apprenticeships. They had to complete a 7 year apprenticeship before being considered a doctor. Of course there were Quacks, or citizens who pretended to have medical knowledge just to make a profit. Moreover, there were female medical practitioners, called midwives. They received no formal education and learned through apprenticeships as well. They birthed children and cared for the ill that could not afford a doctor’s care, or lived too far from a medical facility. When not even a midwife was available to treat a patient, the women of the households were responsible for the family health. Another group that provided medical care was Catholic monks who came over from Europe and brought along their wisdom of operating techniques, healing herbs and essential oils. These monks had a special way of numbing their patients with a plant called henbane. Their patients overcame the operations more quickly while less of them died in contrast to using barbaric operation and healing techniques that many colonial doctors were using. Today, we have many medical schools that are still very expensive and vigorous, but provide a more well-rounded education. Just like the doctors of Colonial America, doctors today undergo a sort of required apprenticeship after medical school, called a residency, which, for a surgeon ranges from five to eight years, depending on their specialty. Midwives are still available, but usually take care of pregnancies. Today, midwives must go through special training to become either a CNM- certified nurse midwife, or a CM- certified midwife. There have been great advances in medical procedures since the late 1700’s. For example, according to Rorke (n. d. ) to amputate a limb, doctors in colonial times would first numb the patients’ pain by intoxicating them with brandy or rum and have them bite on a wooden stick. Then, the medical team would hold them down on the table, while the doctor tied a leather tourniquet around the patients’ limb. The surgeon would start to cut through the flesh with his amputation knife and then saw through the bone itself using an amputation saw. Subsequently, the bone shavings were removed by pouring whiskey or just plain water over the wound. Conversely, the remaining limb was burned with a hot iron to close the blood vessels and veins. They could then wrap the stump with pure cotton bandages and let it heal. Only approximately 35% of patients survived this procedure! The procedure itself sounds cruel, but the patients’ lives might have been at risk if it had not taken place, such as the rotting of the flesh, or blood poisoning, caused by an accident, or being shot with a bullet or poisoned arrow. Another example would be dentistry. Most colonists had awful teeth, because they did not have toothbrushes and toothpaste. Thus, teeth needed to be pulled. Because there are no anesthetics, having your teeth pulled was a very painful process. The dentist would hold the patient down on a chair and yank the tooth out using a pair of everyday pliers. Once again, there were many quacks in this field that would pull good teeth from patients and sell them to people who wanted real-tooth dentures. Moreover, in 2009, archeological teams found human remains where someone, presumably a doctor, had drilled three holes into the skull. This may have been done to relieve the skull of pressure caused by a blow to the head. Archeologists believe that this could have been the first attempt at brain surgery and may have planted the seed for today’s brain surgery procedures (CBSnews. com, 11 Feb. 2009). Hermann Boerhaave’s theory of wellbeing was that a person has four humors: bile, phlegm, blood and urine. If these humors were imbalanced, a person would become ill. To make him or her feel better, you must balance the humors (Brinkley, 2004). According to Rorke, â€Å"one must sweeten acids, purify the stomach, and rid impurities by bleeding and purging† or by using leeches to increase blood production, to balance these again. Most doctors actually let patients bleed out, because their â€Å"humors† were not balanced, whereas midwives prescribed laxatives to remove bile. Furthermore, Boerhaave believed that a â€Å"fever was the body’s attempt to keep from dying,† even though we now know that it is actually the body’s response to killing whatever is making the body sick. Although this sounds absurd when considering our knowledge with today’s medicine, many doctors and midwives used this theory to aid the ill and actually succeeded in some cases. Hygiene was the one major contribution to nosocomial, or hospital obtained, infections. Because doctors in the colonial times did not know about bacteria, viruses, and contagious diseases, they did not clean the equipment or even their hands. Today, doctors and surgical staffs take extra care to clean everything. Surgeons take an average of five minutes to wash, scrub, and sanitize hands, whereas surgeons in colonial times took an average of zero seconds. Doctors would not even wash their hands when rotating between patients. As discussed in class, doctors would go from a person with a severe flu to a woman giving birth without washing their hands. This could not only sicken the woman, but also make the child ill. The death rate of women suffering from Puerperal fever was extremely high. This fever is caused by a bacterial infection from unsterile equipment and conditions during childbirth, and the woman’s body not being able to rid the toxins from childbirth fast enough. This could ultimately lead to death. One cannot stress the importance of hand washing and personal hygiene enough! Obviously, or at least it is obvious today, one must clean any equipment that touched a person, even if it’s just a stethoscope. Disease could spread from such an object to another person causing them to become ill as well. Scalpels, saws, drills, anything that goes into a person, must be sanitized. Today, hospitals heat the instruments so that almost all of the bacteria die, and then they soak them in an antibacterial solution to ensure there are no harmful things on them. Furthermore, some hospitals send the tools to be sanitized to a company that sanitizes them for the hospital. This cuts back on hours cleaning and provides security that the equipment is safe and clean, resulting in happy patients and staff. I believe today’s health care is mostly based around customer service. You want to make sure the patient is happy, healthy, and satisfied with your performance. The patient even has a choice to live or die by signing a DNR- do not resuscitate- form. In colonial America, however, the doctor really did not care if you enjoyed their service or not, they were trying to help you in the long run. Doctors also had more freedom to refuse treatment than they do today. In some ways I would like our health care to be like that of colonial America in regards to customer service, because there are so many people going to the emergency room who have a mild cold and hold up the patients who are in critical condition and really need to be seen as soon as possible. I am indifferent to DNR’s. I believe a person must be in critical condition, such as terminal cancer, to be eligible to sign this form. As previously mentioned, medicine has evolved tremendously between colonial America and now. It is still ever-changing, because we find a cure to diseases, such as Alzheimer’s. Doctors can achieve great things, but only with the help of education, experience, sterile tools, and personal hygiene. How to cite Medicine in Colonial America, Papers

Audit and Assurance in Australia for G Medcraft-myassignmenthelp.com

Question: Discuss about theAudit and Assurance in Australia for G Medcraft.v Answer: Introduction: Around two eras before corporate governance was comparatively unidentified topic. The matter originated during the late 80s and in the initial 90 when the corporate governance sector in most the nations was bounded by difficulties of dubious unethical practices. The failure of One Tel, Adelaide Seamanship, and Satyam exposed the auditing gaps that led to the collapse of these companies. Several failures gave rise to the reformation procedure and introduction of public accounting reformation. The objective of this report is to assess the ethical behaviour of auditors and management. The report will be analysing the collapse of Satyam and highlight the management and audit failures. Statement by G Medcraft: Mr. G. Medcraft is regarded as the former chairman of the Australian Securities and Exchange Comission and is concerned regarding the roles and responsibilities of the auditors while performing the work of audit (Hayes, Wallage and Gortemaker 2014). As evident from the statement of G. Medcraft it warns the Australian accounting authority regarding the roles and accountabilities of auditors. The statement made by G. Medcraft highlights his concern associated to auditors dependency and trust on financial information. G. Medcraft stressed on specific auditors roles and responsibilities. The primary responsibility of auditor is to carry out the audit plan and functions to get adequate evidence of financial statement whether those statements are free from any materiality misstatement (De Paula 2016). On observing any materiality misstatement, the auditors are required to comply with the ethical principles surrounding audit to derive unbiased audit opinion. In the article of G. Medcraft, a serious lack of professional conduct and professional scepticism is noted in the roles and responsibilities of auditors. The statement made by G. Medcraft expressed his opinion that Australian auditing companies are required to avoid any major unfolding of auditing scandals such as Enron that tarnishes the audit profession. As evident from the above conversation, of late there has been widespread circumstances where the professional conduct and professional scepticism of auditors have faced questions (William, Glover and Prawitt 2016). Instances noted suggest that auditors have failed discharge their responsibilities. With the unfolding of major audit fraudulent scandals, there is a lack of trust among the community relating the financial information published by them. Purpose and audit report of Satyam India: Audit forms the important element in business firms and Saytam is no exception to such reports. The audit report forms the opinion of the auditor associated to financial statements of the organization (Kumar and Sharma 2015). This requires an organization to follow a certain set of auditing standards and procedures in the preparation of audit report. In context of Satyam, the primary purpose of audit report was to provide the users of financial information with the necessary information regarding the organization financial performance. There were numerous users of financial report for Satyam that included investors, auditors, customers, lenders, creditors etc. the users made use of the financial report for making different forms of decision (Zeff 2016). The audit report issued by the auditors failed to observe any form of fraud and error and stated that the Satyam financial statements were free from any materiality misstatements. The PWC being the major auditor for Satyam since 2001 also erroneously reported that financial statement of Satyam Computers were prepared by adhering to the required auditing standards and financial reporting regulations. An opinion can be formed on the PWC audit report that, being the sole auditor it failed to carry out the auditing obligations in compliance with the necessary auditing standards. Extent of meeting auditing purposes: The opinion of the auditors entirely represented a different state of affairs for Satyam Computers that was declared in the audit reports. Evidences obtained from the findings truly provides that the auditors of Satyam Computers namely PWC, contributed immensely to present the fraudulent financial statement of the organization (Vasarhelyi, Alles and Kogan 2018). The fraudulent act landed PWC with a fine of $6 million handed by United States Securities and Exchange Commission. Besides this, the US Securities and Exchange Commission along with Securities and Exchange Board of India (SEBI) banned PWC from conducting any audit work since it failed to adhere with the necessary auditing standards and procedure. The auditors of the Satyam computers did not met the auditing principles while performing the audit procedure and ultimately contributed to the decline of the company. The auditors simply overlooked the materiality misstatement in the financial statements that failed to reflect a true and fair view of the financial situation of the business (Wilson 2017). With falsified books of accounts and the existence of insider trading evidently contributed to the decline of Satyam Computers. Evaluation of Satyam Company Management and Auditors ethical behaviour Background: During the year 1987 on 24th June Satyam Computer Service Ltd was incorporated as the private limited company with 20 staffs. The company provided software development and consultancy services to large number of corporations (Samsonova-Taddei and Siddiqui 2016). The company during 1997 was selected by World Economic Forum as one of the most remarkably growing company in India. The company was also ranked 3rd position in respect of corporate governance survey by the Global Institutional investors. Commencement of Problems: The problems in Satyam commenced during December 2008 when the chairman of Satyam publicized a surprise move of $1.6 billion bid for Maytas Infrastructure Ltd and Maytas Properties Ltd. The chairman asserted that he wanted to use the accessible cash for the investors benefit (Shaub and Braun 2014). Thumbs down from the investors and market forced the chairman to withdrawal of bid inside 12 hour span. Satyam share prices fell by 55% relating to the concerns of Satyam corporate governance. The world bank barred Satyam for a period of eight years for giving unsuitable benefits and was also charged with data stealing and corrupting to workforce. The price of share for Satyam also declined by another 14% and was lowest in 4 years (Arens et al. 2016). Finally the chairman of Satyam confessed regarding 7800 crore fraud. A week later the scandalous confession the auditors of Satyam Price Waterhouse lastly confessed that the audit reports provided was incurred and was based on the incorrect monetary report provided by the management of Satyam. Flaws in governance and unethical conduct: In Satyam there was hardly any clear or understood code of ethics that surrounded the business principles of the company (Mohapatra, Graham and Nandialath 2015). Corruption, fraud and exchange of favours both inside and outside of the corporation was the common occurrence. The World Bank was tool late in publicizing the unethical work conduct of Satyam by publicising the data theft charges that was imposed on Satyam and bribing of staff. Following this, Satyam was banded from any trade with World Bank for a period of eight years as the company was charged with giving unfitting benefits to staff. The ethical standards of the company therefore was poor. Evidently, the CEO and the CFO of Satyam were charge for putting forward the self-interest ahead of the interest of the company. The chairpersons were found to be actively selling the large proportion of their shareholdings prior to admitting the scandal of fraud (Narayanaswamy, Raghunandan and Rama 2015). The senior executives of Satyam were found to be behaving in an unethical manner with no instances of moral code of conduct. The behaviour of the top executives provided the evidences of exploitation of corporations funds for private benefit for numerous years. A case of Insider Trading: The investigation reports suggest that the promoters of Satyam computers have engaged themselves in most awful form of insider trading of the Satyams shares to raise cash for creating a large land of bank (Mock, Ragothaman and Srivastava 2018). The funds obtained through shares were employed to purchase lands in the name of the family members with all of the members held equity participation in these companies. The chairperson were held chargeable for using the fund in offloading the shares to purchase their lands. The promoters with the help of inflated books posed a healthy financial situation of the company in the market. During this course of time period the promoters held their purpose to offload their shares on regular breaks. The investigation agencies are puzzled because the deals were struck by the chairman when the market was functioning far below Rs 500. Following the confession of the chairperson the prices of the shares fell to all below of Rs 6.30 (Solieri and Hodowanitz 2016). Even though the chairman of Satyam and chairman of SFIO were separated however discoveries suggest that the chairperson were working together to defraud their stakeholders for the purpose of personal gain. Falsified books of accounts and Fake Accounting: Evidences from the findings suggest that the balance sheet of the Satyam carried on an accrued interest that amounted to 376 crores that did not existed in reality. The false figure of accrued interest was presented in the balance sheet to supress the identification of non-existent fixed deposit based on the inflated profits (Bhasin 2016). Investigations findings suggest that the business had purposely paid the more taxes on account of non-existed accrued interest that constituted considerable amount of loss for company. The company created an untruthful impression regarding the fixed deposits that summed around 3318.37 crore while the company originally held fixed deposits receipts of just 9.96 crore. Negligent board: The lax board system has failed to question the strategy of management and employed leverage in recasting the firm. The board were very slow to react once it was evident that Satyam was in monetary misery (Pai and Tolleson 2015). The lax board overlooked or were unsuccessful to act on the serious info associated to incorrect activities prior to the ultimate collapse of the organization. The aggressive bidding of Maytas companies resulted in strong decline in their share prices and bid as it deteriorated by 55% raising concerns about the companys governance. Though some of the independent director withdrew from the board but by then it was very late. Dubious role of Audit committee: The actual function of audit committee is to make sure that the transparency in the business relating to monetary disclosure and fiscal declarations that provided appropriate, adequate and admirable picture and should be free from fraud and failures (Bhasin 2016). Timely taking of actions by the audit committee for the information supplied by the whistle-blower could have helped in acting as the SOS to Satyam. However, the audit committee chose to maintain silence and did not disclosed the issue to the shareholders and the regulatory bodies. False Audit: PWC was the auditor of the Satyam and was auditing their financial records from the year 2001. The fraudulent role of PWC in Satyams failure raised the question of auditing integrity. Investigation reports suggest that the statutory auditors rather using the mechanism for independent testing employed investigation tools of Satyam and compromised the auditing standards (Solieri and Hodowanitz 2016). The final straw in the deficiencies of statutory auditing standards was in spite of detecting the control shortages in the info system and the risk of disclosure to the scams, PWC elected to maintain silence and did not reported the material fraudulent activities to the shareholders. The global audit head of PWC stated that despite the coverage and the resources of internal audit was not in balance with the business dimensions. PWC simply overlooked the evidences and certified the company (Mock, Ragothaman and Srivastava 2018). The statutory auditors were failure on their part of discharging their roles and duty when the situation of autonomously authenticating the cash and bank balances both in respect of current account and fixed deposits. Conclusion: The fraudulent activities of Satyam has devastated the thoughts of several groups of investors, upset the government and regulators. The scandal raised questions on accounting practices and corporate governance standards. The study evidently puts forward numerous corporate governance problems and audit failures that caused the decline of Satyam. Several such evidences has been noticed in USA, Australia and UK however these nations have strongly reacted to the corporate failures and code of ethics that came to the centre stage. Corporate humiliations and audit failures have triggered reformation in the accounting practices and corporate governance. The primary purpose of the reformation is to gain the investors confidence and preventing the audit frauds by ensuring transparency in disclosure of information. Though the mechanism of corporate governance cannot alone prevent the unethical practices of top management but would help in at least ensuring that such things be detected before it is very late. Reference List: Arens, A.A., Elder, R.J., Beasley, M.S. and Hogan, C.E., 2016.Auditing and assurance services. Pearson. Bhasin, M.L., 2016. Debacle of Satyam Computers Limited: A Case Study of Indias Enron.Wulfenia Journal KLAGENFURT,23(3), pp.124-162. De Paula, F.R.M., 2016.The principles of auditing a practical manual for students and practitioners. Isaac Pitman Sons, Ltd (1919). Hayes, R., Wallage, P. and Gortemaker, H., 2014.Principles of auditing: an introduction to international standards on auditing. Pearson Higher Ed. Kumar, R. and Sharma, V., 2015.Auditing: Principles and practice. PHI Learning Pvt. Ltd.. Mock, T.J., Ragothaman, S. and Srivastava, R.P., 2018. Using Evidential Reasoning Technology to Enhance the Audit Quality Assurance Inspection Process.Journal of Emerging Technologies in Accounting. Mohapatra, P.S., Graham, A. and Nandialath, A., 2015. Did PwC lose reputation post audit failure at Satyam Computer Services? Evidence from the Indian audit market.International Journal of Accounting and Finance,5(1), pp.48-61. Narayanaswamy, R., Raghunandan, K. and Rama, D.V., 2015. Satyam Failure and Changes in Indian Audit Committees.Journal of Accounting, Auditing Finance,30(4), pp.529-540. Pai, K. and Tolleson, T.D., 2015. India's Satyam Scandal: Evidence the Too Large to Indict Mindset of Accounting Regulators Is a Global Phenomenon.Review of Business Finance Studies,6(2), p.35. Samsonova-Taddei, A. and Siddiqui, J., 2016. Regulation and the Promotion of Audit Ethics: Analysis of the Content of the EUs Policy.Journal of business ethics,139(1), pp.183-195. Shaub, M.K. and Braun, R.L., 2014. Call of duty: A framework for auditors ethical decisions. InAccounting for the Public Interest(pp. 3-25). Springer, Dordrecht. Solieri, S.A. and Hodowanitz, J., 2016. Electronic Audit Confirmations: Leveraging Technology to Reduce the Risk of Fraud.Journal of Forensic Investigative Accounting,8(1). Vasarhelyi, M.A., Alles, M.G. and Kogan, A., 2018. Principles of analytic monitoring for continuous assurance. InContinuous Auditing: Theory and Application(pp. 191-217). Emerald Publishing Limited. William Jr, M., Glover, S. and Prawitt, D., 2016.Auditing and assurance services: A systematic approach. McGraw-Hill Education. Wilson, M.J., 2017. Environmental auditing: Principles and application Zeff, S.A., 2016.Forging accounting principles in five countries: A history and an analysis of trends. Routledge.

Lmx Theory free essay sample

The LMX theory suggests that when subordinates believe in themselves they become empowered to do better at a given task improving production and job performance. LMX theory has shown that leaders who motivate and offer subordinates tools to improve skills and gain confidence will result in employees performing better. In the case of a Tale of Two Coaches, there is strong evidence of the LMX theory in both case studies. Both Coach K and Coach Knight use motivational tactics and training to improve athlete’s abilities and trust. Through drills and practices subordinates gain confidence in there sport and feeds there will to play better by improving there skills and abilities. Both coaches used the tools of discipline, tough love and building relationships with players to gain trust and motivation. These tools are what the LMX theory suggests are part of the key factors to effective leadership. For Coach K, his discipline consisted of drills, skills, practice, analyzing plays and strategies to help his team get to where they needed to be. Coach K went further to motivate and support players by making an effort to understand each player through communication by assisting them to get to where they need to individually and as a team. He did this by building trust through eye contact when he spoke to players. He also expected players to do the same when communicating with each other. Coach K’s personal coaching style of not using a whistle while confronting players built trust, reassurance and confidence among the team members because it displayed a more personal approach.. Coach K is a motivator of tough love; he used fear to motivate players by disciplining players who didn’t show respect for the team, program, school or others. Coach K instilled the importance of building character in his players which plays as a major factor in the LMX theory. Coach Knight also showed evidence of the LMX theory by instilling discipline, rules, tough love, and developing relationship with players and educating player with the will to win. Coach Knight used motivational tactics such as intense drills of push-ups, sprints and rules to build respect, commitment and perseverance. Coach Knight focused on the importance of preparation to win and provided players with the tools necessary to do so through rules, discipline and leading by example. Coach Knight instilled the will to win through a drill that required players to fight for the ball. This simple drill emphasized the will to win through preparation rather than the skill itself. Players gained the drive and confidence to do well and want to do well. Coach Knight used discipline to reinforce his motivational tools by being fair to all and never playing favorites. He disciplined players for performing poorly by threatening to take away scholarships, benching starters or throwing players out of practice if the behavior persisted. He reinforced his leadership style through example by not settling for less than perfect. Coach Knight expected perfection and was never satisfied with just winning but with the mistakes that were made. His idea of a perfect win was a win with no mistakes and he never tolerated less than that. He felt if he did tolerate mistakes then so would his players. His belief and motivation gave players a will to do better and in relation to the LMX theory this kind of leadership with subordinates is what makes an effective leader. In accordance with the LMX theory, neither coach had a division between In-groups and Out-groups. Both coaches showed no distinction between the two as they treated all players equally, disciplining and rewarding everyone the same. In both case studies the coaches expected all subordinates to perform at a level of In-group members leaving no room for Out-group subordinates to develop. All team members were projected to do more than the requirements, in turn each coach also went above and beyond as leaders. There main tools of motivation were through fear, love, trust, discipline and respect. Therefore, although there was strong evidence of the LMX theory in both cases there were also some inconsistencies that could not be applied with the theory. In conclusion, both coaches were great leaders that developed specific traits, styles, power bases and beliefs to being an effective leader. To be a winning leader a person must exhibit certain dominate leadership traits that will draw followers to there style and beliefs. In the two case studies both coaches displayed traits of intelligence and determination, however each had there own specific dominate traits which distinguished there style of leadership. Coach K’s dominate traits were integrity and sociability because he stressed the importance of trust in building relationships with players and he displayed more sensitivity for the needs of players. He demonstrated these traits through his face to face contact, analyzing strategies to understand players, being flexible and allowing players the freedom to be who they are by building relationships through family dinners and get together. Coach Knight demonstrates dominate traits of self-confidence and determination. He established this through his theory of the will to win as he pursued his style of leadership through harsh discipline, drills and expectations. He had the confidence to push the players even if it meant crossing boundaries that society would not approve. He built character through tough love and didn’t care what others thought of his leadership style or practices.