The Sarbanes Oxley Act Of 2002 - 1614 Words

The Sarbanes-Oxley Act of 2002 (SOX) was enacted to bring back public trust in markets. Building trust requires ethics within organizations. Through codes of ethics, organizations are put in line to conduct themselves in a manner that promotes public trust. Through defining a code of ethics, organizations can follow, market becomes fair for investors to have confidence in the integrity of the disclosures and financial reports given to them. The code of ethics include â€Å"the promotion of honest and ethical conduct, requiring disclosure on the codes that apply to senior financial officers, and including provisions to encourage whistle blowing† (A Business Ethics Perspective on Sarbanes Oxley and the Organizational Sentencing Guidelines). The Sarbanes-Oxley Act was signed into law from public demand for a reform. Even though there are some criticism about it, the act still stands to prevent and punish corporate fraud and malpractice. The Sarbanes-Oxley Act was security law that was birthed from corporate and accounting scandals. The act’s name was drafted from Senator Paul Sarbanes and Congressman Michael G. Oxley. Oxley is a congressman who introduced his Corporate and Auditing Accountability and Responsibility Act to the House of Representatives. Sarbanes was a senator who proposed his Public Company Accounting Reform and Investor Protection act to the senate in 2002. After the public kept on demanding for a reform, both of the proposed acts passed and President George W. BushShow MoreRelatedSarbanes-Oxley Act of 2002985 Words   |  4 Pages Sarbanes-Oxley Act of 2002 Week # 2 Individual Assignment â€Æ' Sox Key Main Aspects for a Regulatory Environment Sarbanes-Oxley Act was passed in 2002 by former president George Bush. Essentially to combat the Enron crisis. The Sox Act basically has regulatory control and creates an enviroment that is looking out for the public. Ideally this regulatory environment protects the public from fraud within corporations. Understanding, that while having this regulatoryRead MoreThe Sarbanes Oxley Act Of 2002 Essay1605 Words   |  7 Pageswell-known acts have been signed into laws by the presidents at the time to protect investors and consumers alike. A brief overview of the Sarbanes-Oxley Act of 2002, a discussion of some of the provisions therein, opinions of others regarding the act and also my personal and professional opinion will be discussed below. The same will be examined about the Dodd-Frank Wall Street Reform and Consumer Protection Act. Senators Paul Sarbanes and Michael Oxley were the sponsors of the Sarbanes-Oxley Act of 2002Read MoreThe Sarbanes Oxley Act Of 20021563 Words   |  7 PagesThe Sarbanes-Oxley Act of 2002 (SOX) was enacted to bring back public trust in markets. Building trust requires ethics within organizations. Through codes of ethics, organizations conduct themselves in a manner that promotes public trust. Through defining a code of ethics, organizations can follow, the market becomes fair for investors to have confidence in the integrity of the disclosures and financial reports given to them. The code of ethics includes the promotion of honest and ethical conductRead MoreThe Sarbanes Oxley Act Of 20021015 Words   |  5 PagesThe Sarbanes-Oxley Act of 2002, also known as the SOX Act, is enacted on July 30, 2002 by Congress as a result of some major accounting frauds such as Enron and WorldCom. The main objective of this act is to recover the investors’ trust in the stock market, and to p revent and detect corporate accounting fraud. I will discuss the background of Sarbanes-Oxley Act, and why it became necessary in the first section of this paper. The second section will be the act’s regulations for the management, externalRead MoreThe Sarbanes Oxley Act Of 2002 Essay1070 Words   |  5 Pagesof Sarbanes-Oxley Act of 2002. This Act was placed into law to protect the consumer against fraudulent activity by organizations. This paper will provide a brief history of the law and discuss some of the ethical components and social implications on corporations. This research will provide information on how the Sarbanes-Oxley Act affects smaller organizations and how it encourages employees to inform of wrong doings. Brief Synopsis of Sarbanes-Oxley The U.S. Congress passed the Sarbanes-OxleyRead MoreThe Sarbanes Oxley Act Of 20022137 Words   |  9 Pagesdishonest act that remained common amongst companies such as Enron, WorldCom, and Tyco was the fabrication of financial statements. These companies were reporting false information on their financial statements so that it would appear that the companies were making profits. However, those companies were actually losing money instead. Because of these companies’ actions, the call to have American businesses to be regulated under new rules served as a very important need. In 2002, Paul Sarbanes from theRead MoreThe Sarbanes Oxley Act Of 20021525 Words   |  7 Pagesthe Sarbanes-Oxley Act of 2002 (Cheeseman, 2013). Congress ordered the Sarbanes-Oxley Act of 2002 (SOX Act) to shield customers from the fraudulent exercises of significant partnerships. This paper will give a brief history of the SOX Act, portray how it will shield general society from fraud inside of partne rships, and give a presumption to the viability of the capacity of the demonstration to shield purchasers from future frauds. History of the SOX Act Congress established the Sarbanes-Oxley ActRead MoreSarbanes Oxley Act of 20021322 Words   |  6 Pagesï » ¿Sarbanes-Oxley Act of 2002 Descriptions of the main aspects of the regulatory environment which will protect the public from fraud within corporations are going to be provided in this paper. A special attention to the Sarbanes – Oxley Act of 2002 (SOX) requirement; along with an evaluation of whether Sarbanes-Oxley Act will be effective in avoiding future frauds based on their implemented rules and regulations. The main aspects of the regulatory environment are based on the different laws and regulationsRead MoreThe Sarbanes Oxley Act Of 2002 Essay1302 Words   |  6 PagesThe Sarbanes-Oxley Act of 2002 was the result of a number of large financial scandals in the United States in the late 1990s and early 2000s. One of the most well-known corporate accounting scandals was the Enron scandal, which was exposed in 2001. Enron, an energy company that was considered one of the most financially sound corporations in the United States before the scandal, produced false earnings reports to shareholders and kept large debts off the accounting books (Peavler, 2016). Enron executivesRead MoreThe Sarbanes-Oxley Act of 20024779 Words   |  20 PagesThe Sarbanes-Oxley Act of 2002Introduction2001-2002 was marked by the Arthur Andersen accounting scandal and the collapse of Enron and WorldCom. Corporate reforms were demanded by the government, the investors and the American public to prevent similar fut ure occurrences. Viewed to be largely a result of failed or poor governance, insufficient disclosure practices, and a lack of satisfactory internal controls, in 2002 George W. Bush signed into law the Sarbanes-Oxley Act that became effective on

Laws Influence on Morals - 1738 Words

In the Oxford dictionary law is defined as the system of rules which a particular country or community recognizes as regulating the actions of its members and which it may enforce by the imposition of penalties. In other word its is regulations and principles established in a community to be applied to its people and those who do not follow these rules could face punishments which are possible to have an effect on the persons liberty. [Oxford Dictionaries [online]. (2014). From: http://www.oxforddictionaries.com/definition/english/law. [Accessed 18 March 2014] Morals are a set of beliefs that people follow based on their culture and society. They are also based on an individual’s interpretation of what is good and what is not, so they are almost always different for different individuals. They are not written rules, they can be interpreted differently based on factors such as: culture, society, religion and the way an individual was brought up. There might be a set of values, which may be common in society. These are what society finds acceptable. A lot of the societies today are pluralistic. This means that people of different religions, races, social classes etc. live together in a society and continue to have their own unique traditions and interest. David Emile Durkeim was a French philosopher, considered to be the father of sociology. In one of his books he wrote that traditional societies feature people engaging in the same activities and rituals, usually embodiedShow MoreRelated WorldCom and The Mississippi Scheme Scandals Essay1704 Words   |  7 Pagessuperiors. The Duke of Orleans became the Regent of France in 1715 and served as the ruler while the heir to the throne was a minor. Regent knew of John Laws financial expertise and asked for his advice and assistance in straightening out Frances financial mess left over from years of uncontrolled spending under Louis XIV. The Regent approved Law’s scheme and allowed it to happen. John Law was the founder of the Mississippi Scheme. He was the Controller General and Superintendent General of FinanceRead MoreThe Metaphysics Of Morals1418 Words   |  6 Pagesof the Metaphysics of Morals by Emmanuel Kant, we are presented with this conception of Kant’s called â€Å"the Form of Law.† With the discussion of the Form of Law, we will also come to encounter both moral law and the categorical imperative. Kant’s notion of the Form of Law, we will later see has a great deal of significance within the Groundwork of the Metaphysics of Morals. Within the discussion of the Form of Law’s significance in the Groundwork of the Metaphysics of Morals, Kant also provides usRead MoreAspects Of An 18 Year Old s Development1154 Words   |  5 Pagesdevelopment influences who he becomes. Psychologists such as Piaget, Kohlberg, and Erikson have attempted to explain different facets of the cognitive development of humans in stages. However, this may not a s clearly demonstrate cognitive development as personal experiences and observations. I asked my sister, Joanna, a series of questions pertaining to different aspects of her cognitive development including parental and peer influences during adolescence, increasing independence, and moral reasoningRead MorePerspectives Of Ideals And Realities Through Yun1215 Words   |  5 Pages†¦ we would hold hands and ask, ‘Where are you going?’ We felt furtive, as if we were afraid others would see us †(Shen Fu 33). In this example, Yun went beyond the chinese standards and allowed her emotions for Shen Fu to cloud her judgment and influence her sense of what was socially acceptable. In Position of Women in Early China, the appropriate etiquette for a proper woman was described by Meng Mu, from â€Å"The Mother of Meng K’o of Tsou†. Meng Mu told her son the three obediences a woman must possessRead MoreSeparation between Law and Morality1919 Words   |  8 Pagesnecessary connection between legal and moral norms . However According to, (Payne, 1976, p. 317)In a legal system the existence of any rule may be verified, questions about the moral/non-moral value of it may be raised, also questions about the validity of every rule except the rule of recognition . With this acceptance of a social rule, Hart can preserve the fundamental contention of legal positivism, that there is a factual criterion for distinguishing law from morals. All legal rules of a society canRead More Summary and Analysis of The Man of Laws Tale Essay1913 Words   |  8 PagesSummary and Analysis of The Man of Laws Tale Fragment II The Words of the Host to the Company and Prologue to the Man of Laws Tale: The host speaks to the rest of the travelers, telling them that they can regain lost property but not lost time. The host suggests that the lawyer tell the next tale, and he agrees to do so, for he does not intend to break his promises. He says that we ought to keep the laws we give to others. He even refers to Chaucer, who works ignorantly and writes poorlyRead MoreWhat Makes Good Life?1100 Words   |  5 Pagesto find God’s blessings or messages for direction and guidance. I grew up fairly atheist and didn t attend a formal church service until after I married her eldest son. I utilized this interview opportunity to get an understanding of some of my in-law’s views and learned that my initial hypothesis of her answers were not necessarily completely accurate. What do you think is the Good life? â€Å" I think the good life is living comfortably enough that you are able to dedicate yourself to benefit othersRead MorePhilosophy and Democracy1681 Words   |  7 Pagesâ€Å"impact† and â€Å"influence† (117; 122). According to Dworkin’s ‘equality of impact’, vertical equality of power between citizens and officials is implausible; while horizontal equality of power between different citizens appears too unassuming (121). In contrast, Dworkin’s adverse view on the ‘equality of inï ¬â€šuence’ developed, in part because of its insensitivity towards illegitimate, and legitimate sources of unequal influence of democratic processes; e.g., illegitimate influences of wealth, andRead MoreThe Field Of Legal Theory Is Continually Being Refined1469 Words   |  6 Pagesauthors influenced the thinking of Hart and Kelsen, and those three are Thomas Hobbes, David Hume, and Immanuel Kant. Thomas Hobbes began the intellectual chain which eventually led to the positivist works of Hart and Kelsen. Hobbes had a significant influence on the thinking of many legal positivists. Some of Hobbes most important concepts that align well with legal positivism are that the laws are the will of the sovereign, that the law is not a universal concept, and that man imposes a meaning on theRead MoreThe Rule Of Law And Police Force Ethics1304 Words   |  6 PagesSchwartz, 2007). Brien (1999) refers to the Rule of Law as â€Å"ideal†, suggesting that the need for governance is universal. Liberals who are exponents of the Rule of Law argue that it is inherently liberal in character and espouses certain universal moral principles (Trebilcock Daniels, 2009). The core values underlying the Rule of Law include legality, certainty, consistency, accountability, due process, and access to justice (or natural justice) (Trebilcock Daniels, 2009). These values constitute

Poverty and Rural Areas Free Essays

string(97) " program of the present Administration of conditional cash transfers to the poorest of the poor\." I-INTRODUCTION Poverty remains the most critical social problem that needs to be addressed. Philippines’ poverty line marks individuals earning less than 16,841 Peso a year. According to the data from the National Statistical Coordination Board, more than one-quarter (26. We will write a custom essay sample on Poverty and Rural Areas or any similar topic only for you Order Now 5%) of the population falls below the poverty line in 2009. ]This figure is a much lower figure as compared to the 33. 1% in 1991. The decline has been slow and uneven, much slower than neighboring countries who experienced broadly similar numbers in the 1980s, such as People’s Republic of China (PRC), Thailand, Indonesia (which poverty level lies at 8. %) or Vietnam (13. 5%). This shows that the incidence of poverty has remained significantly high as compared to other countries for almost a decade now. The unevenness of the decline has been attributed to a large range of income brackets across regions and sectors, and also unmanaged population growth. The Philippines poverty rate is roughly the same level as Haiti. The government planned to eradicate poverty as stated in the Philippines Development Plan (PDP). The PDP for the next six years are an annual economic growth of 7-8% and the achievement of the Millennium Development Goals (MDGs). Under the MDGs, Philippines committed itself to halving extreme poverty from a 33. 1% in 1991 to 16. 6% by 2015. Understanding Philippine poverty II-CURRENT ISSUES Understanding Philippine poverty By BERNARDO VILLEGAS MANILA, Philippines – There have literally been dozens of studies on Philippine poverty over the last decade or so, by economists in Philippine universities, the World Bank, the Asian Development Bank and other international agencies. The latest one is entitled â€Å"Examining recent trends in poverty, inequality, and vulnerability† written by Dr. Jose Ramon Albert and Mr. Andre Philippe Ramos of the Philippine Institute for Development Studies (PIDS) which has produced over the years some very useful policy-oriented studies that can guide decision making in both the government and the private sector. The conclusion of the study is not a very happy one. As based on statistics released by the National Statistical Coordination Board (NSCB) for 2000, 2003, and 2006, poverty in the Philippines is seen not to have substantially changed since the start of the millennium. Although there was a reduction of the proportion of the population who were considered poor from 33. 6 percent in 2000 to 30 percent in 2003, the poverty rate in 2006 increased to practically where it was at the beginning of the millennium at 32. 9 percent. Poverty has remained mostly unchanged and has also continued to be a predominantly rural phenomenon, with three out of every four persons found in the rural areas. The outlook looks even bleaker if the Philippine economy continues to grow at the same pace as it did in the last decade or so. It will take more than 17 years for half of the poor to exit poverty even if the per capita incomes of all persons in the country were to increase uniformly by 2 percent annually (adjusted for inflation). It will take an average time of 40 years for the poor to exit poverty if annual growth per capita is at 1 percent. It is quite evident from these projections that the Philippine economy must grow at 7 percent or more annually for the next ten or more years for there to be a significant reduction in poverty. A 7 percent growth in GDP would mean about 5 percent annual growth in per capita income since population growth is a little under 2 percent per annum. The experiences of the East Asian countries over the last twenty years (especially China) is that a growth of at least 7 percent in GDP annually for 20 years or more can make a significant dent on mass poverty. The Philippines has not attained this sustained growth of 7 percent or more over the last two decades mainly because of flawed economic policies based on import-substitution industrialization and an utter neglect of countryside and agricultural development. We can be optimistic that the 7 percent or more growth is attainable in the next decade or so because lessons have been learned from the past errors. Today, there is greater emphasis on export-oriented industrialization and more importantly, there is keener focus on rural and agricultural development. A greater portion of the capital budget of the Government is being spent on farm-to-market roads, irrigation systems, and post-harvest facilities. No longer is agriculture considered as the Cinderella of development. The study of Dr. Albert and Mr. Ramos also showed that in the rural areas, those at the lower and middle portions of the income distribution benefited less from growth during the period studied than those at the upper end of the distribution. They found out that while inequality went down as a whole for the country and urban areas for the period 2000 to 2006, the rural areas suffered from increased inequality largely brought about by differences in the top of the income distribution ladder. In view of these changes in income distribution, headcount poverty in the country decreased only by 0. 7 percent. Had there been no worsening of the inequality seen in the rural areas where the upper-income groups were the ones who benefited more from growth, headcount poverty would have fallen from 33. 6 percent to 22. 6 percent. The very modest gains in the fight against poverty can be attributed to improper targeting mechanisms for propoor projects and the absence of monitoring and evaluation systems for program implementation. The authors recommended that propoor public interventions that do not seem to have an impact should be reoriented, especially those with implementation and targeting issues. Policies and programs oriented toward the prevention of the transmission of poverty from one generation to the next, â€Å"especially by way of human resource investments and population management† must be essential components of any sustainable reduction strategy of poverty and vulnerability. The authors have something positive to say about the controversial program of the present Administration of conditional cash transfers to the poorest of the poor. You read "Poverty and Rural Areas" in category "Essay examples" They opine that a conditional cash transfer program, if well executed and monitored, shows promise. Improving nonfarm income in rural areas must also be a policy thrust. My view is that these nonfarm incomes can come from tourism, transport and telecom, processed food products, housing and construction, garments and clothing accessories and other small and medium-scale enterprises that can be located in the rural areas once road and telecom networks are improved. The Philippine nautical highway is a real asset for the mobilization of non-farm rural employment. The Report concludes that sustained economic growth can dramatically reduce poverty (which would mean at least 7% annual GDP growth for the next twenty years) but this entails a serious management of resources, â€Å"including population management. If by population management, the authors mean a drastic redistribution of the 93 million people in the Philippines away from monstrous urban areas like Metro Manila to the sparsely populated regions such as Isabela, Cagayan, Aurora, Quezon, Bicol, Leyte, Samar and numerous other rural areas, then they are right. With improved rural infrastructures such as farm-to-market roads, domestic seaports and airports, telecom facilities and educational institutions, this more efficient distribution of population will go a long way to reducing poverty in the rural areas. But if they mean reducing family sizes, the authors are contradicting themselves. They repeat over and over again that poverty is predominantly a rural phenomenon and is concentrated in the households of small farmers who are poor because they have been deprived by the State of the support infrastructures they need to earn decent incomes. They have to draw water from the rivers, plow their fields with the most primitive methods, bring their goods to the market using roads in the most horrible state of disrepair, etc. How can you tell these rural families to have only two children? The only resources they have precisely are their children, who many times are asked to leave school at an early age because they are needed for farm work. Until the rural infrastructures are significantly improved, these rural families would need and want to have many children. III-DEDUCTIVE REASONING REFLECTING: IF POVERTY WILL HAPPEN TO OUR FAMILY WE WILL FACE IT TOGETHER I WILL HELP MY PARENTS TO EARN MONEY SO THAT WE CAN EAT 3X A DAY . INTERPRETING: Condition  where people’s basic  needs  for  food, clothing, and shelter are not being met. Poverty is generally of two  types: (1) Absolute poverty is synonymous with destitution and occurs when people cannot  obtain  adequate  resources  (measured in  terms  of  calories  or nutrition) to  support  a minimum level of physical  health. Absolute poverty  means  about the same everywhere, and can be eradicated as demonstrated by some  countries. (2) Relative poverty occurs when people do not enjoy a certain minimum level of living standards as determined by a  government  (and enjoyed by the  bulk  of the  population) that vary from country to country, sometimes within the same country. Relative poverty occurs everywhere, is said to be increasing, and may never be eradicated. APPLYING: More people need to realize that jail really is not worth the trouble, when a legal system for earning is available, as long as, one is willing to learn about it. Those who work jobs that they hate, do so, because they have no other choice or cannot see what other choices they do have. Millions of people go to work every day, angry with their boss or superior, and dread walking in the door. Their job does nothing to stimulate their learning or allow them to gain anything new. It is a damn shame that many jobs have become departmentalized dead-end, non-money making positions. You routinely go in and do the same thing over again, there is no growth out of your position. It is not meant to have a direct impact on profits, but does have an indirect effect on profits. The poverty problem, like I said earlier, is just a lack of knowledge. There are plenty of people who simply do not have the knowledge they need or require, to progress forward. There are some people who have addiction problems, and ended up homeless, because they were most likely not brought up properly. This is attributed to many different factors, but most of all family. EVALUATING: Rapid Population Growth Given that the population of the Philippines is increasing at a rapid rate of 2. 36% per year, it can be translated as an increase of more than 5,000 people daily in a country, which already has an increase of more than four million poor people since 1985. In 1985, the absolute number of people living in poverty was 26. 5 million. This increased to 30. 4 million in 2000 and from 2006 to 2009, increased by almost 970,000 Filipinos from 22. 2 million to 23. 1 million. As the Philippines has financially limited resources and a high poverty rate, the rapid increase in population has become a problem because there is already insufficient resources to support the population, which leaves much fewer resources to improve the economy. From 2003 to 2006, even though the Philippines experienced above-average economic growth, the poverty incidence actually increased as a result of its population growth rate. Unemployment Poverty reduction has not kept up with GDP growth rates, largely due to the high unemployment rate, high inflation rate and wide income inequality. From 2000 to 2009, the economy of Philippines grew by 3. 2% on average annually, which was on par with the economic performance of its neighbors. However, this recent growth did not translate into more jobs. Unemployment in the Philippines has been high in comparison to its neighbors, at around 7. 5% to 8. 0% since 2006. Sources: Philippine Development Plan: Asian Development Bank (ADB), 2010; National Statistical Coordination Board (NSCB) *Average for the period 2001-2010 As the world’s second largest archipelago, the Philippines have faced difficulty in job creation due to its inability to attract more foreign, direct investments. Diwa Guinigundo, whom is the Central Bank Deputy Governor, mentioned that while capital flows are turning to the emerging markets, foreign, direct investments to the Philippines remain relatively low due to the weak investment climate. The Philippines have hefty business procedures, poor tax and customs administration, weak protection against expropriation and high-energy cost. This poor investment climate has limited the Philippines ability to grow and create jobs. Therefore, the poverty rate remains constant over the years. SOLVING PROBLEM: 1. Employment generation Carefully and extensively planned employment programs funded by the government can spur growth in jobs. Industries requiring substantial labour forces can also be given significantly larger aid from the government. Focus should be placed on developing companies that offer sustainable and long-term jobs to the community. Companies should also budget sufficiently for employee training and related community programs, so that employees and prospective employees can keep their skills relevant and up-to-date. 2. Drawing on various social institutions to fund poverty fighting programs e. g. charities, research institutions, U. N. , non-profit organizations, universities. Money funnelled from every organization available adds up to powerful sums that can produce tangible change. When organizations develop an interest, albeit vested, they tend to be more strongly motivated. Organizations that have a concrete goal to achieve with strict project plans are able to efficiently concentrate their efforts into producing change. For this reason charities with numerous middlemen organizations should be discouraged to ensure money reaches those in need. Importance should be given to organizations that follow the teach a man to fish ideology rather than the give the man a fish one, unless in extremely dire emergency circumstances. 3. Transparency in government spending Where and how a government chooses to spend taxpayers’ money and its own revenue should be visible to the media and the common man. This makes governments accountable for their actions and inaction becomes easier to pinpoint and address. It also discourages corruption in government systems. For example, transparency will be especially beneficial to civilians whose government might be allotting money to its nuclear weapons program instead of to its poverty programs. CONCLUSION The main problem in our country nowadays is poverty. Many experts made a research on how to solve it. Most in the community of the Philippines are graving. But sad to say that until now it is still in the stage of calamity. Poverty happens everywhere. They think citiesmay offer them a better-off living. They think they’ll be much better off living in the cities than in their own villages, which only offer them natural resources. Being rich and having a great sum of money instantly are often the cause of massive exodus. What happens later is beyond their expectations; they become jobless, homeless, and the worse impact is that they are unable to return to their villages for they don’t even have money to return. Most poor people who battle hunger deal with chronic undernourishment and vitamin or mineral deficiencies, which result in stunted growth, weakness and heightened susceptibility to illness. Poor children are the most prone to this and are often the victims to malnutrition, deficiencies, diseases and ultimately deaths caused by hunger. The persons who are in the position must have enough knowledge about the solutions on the problem. They should make a step by step process to ensure the proper on the global major problem. 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Miscommunications with a Brazilian Auto Parts Manufacturer Essay Example For Students

Miscommunications with a Brazilian Auto Parts Manufacturer Essay What are three of the cultural missteps that Wally Astor and his father-in-law, Henry Williams, made in this scenario? Why do you think this happened? ) If this was a native of Brazil and advising American business representatives on what to do when align with Brazilian business partners, what would you tell the Americans about Brazilian culture? 3) Imagine that the situation in this case study was reversed, that is, Brazilian business man were coming to the IS_S. To look for a supplier. What would you tell the Brazilian about American business culture to prepare them for success? Mr.. Williams, president Of Lucky Auto Parts Company and his son-in-law Mr Astor were about to embark on a business venture in Brazil. They were set up to meet Mr Silva and Mr We will write a custom essay on Miscommunications with a Brazilian Auto Parts Manufacturer specifically for you for only $16.38 $13.9/page Order now Ventura, President and sales manager Of a mid-size auto parts manufacturer company in Brazil. The meeting was all set up until Mr Williams decided he could not go because something came up at the last minute. So he decided to send his son-in-law in his place. This happened very quickly and Mr William felt that since it took a long time to set up the meeting, he did not want to cancel it. He also felt that sending his son-in-law in his place shouldnt be a big deal. Mr Silva and Mr Ventura met MR.. Astor at the airport; however, they did not know Mr Williams would not be attending their meeting. They were surprised. Not only were they surprised that Mr Williams id not show, but they were surprised that Mr Astor was dressed in jean when he got off the plane. Once they accepted the tact that Mr Williams was not attending, they wanted to whine down for the evening and take Mr Astor to his hotel. Mr Astor responded with, let get straight to the meeting. He told them that he was leaving the next day because he had other plans, Again the men from Brazil were a little taken back. Mr Astor was a little surprise also when he realized that they wanted to start everything in the morning and they expected him to be there for a few days. A huge case of miscommunication! There were overall other things that happen that made the men looked at each other in peculiar manner. That night Mr Williwaws son-in-law called him and explained all that had happened. Mr Williams immediately knew that he had made a mistake by not going on the trip. He apologized to Mr Astor for putting him that situation. He told Mr Astor What he needed to do to help rectify the situation. Mr William realized that Mr Astor was not prepared for the culture shock. Question I What are three of the culture missteps that Wally Astor and his father-in-law, Henry Williams, made in this scenario? Why do you think this appended? Answer: Misstep #1 Mr Williams assumed that his presence at the meeting was not that Important and that he could be replace by anyone who could discuss the business. He did not understand the importance Of him being at the meeting. Misstep #2 They both made the assumption that business is handled the same way in Other parts Of the world like they are in America. Traveling to a business appointment can be done in casual attire, running straight into a meeting and business cards are informational only and review at your leisure. Thinking that business can be handled like fast food operation; get if the plane, start taking about a business relationship and jump back on the plane in a few hours. Misstep #3 The both failed to do any preparation work for their trip to Brazil. Question 2: If you were a native of Brazil and advising American business representatives on what to do when talking with Brazilian business partners, what would you tell the Americans about Brazilian culture? Answer: Handshaking, often for a long time, is common, Shake hands for hello and goodbye; use good eye contact; when leaving a small group, be sure to shake hands with everyone present. .ua22bef8175d57633657d3954f5daa98e , .ua22bef8175d57633657d3954f5daa98e .postImageUrl , .ua22bef8175d57633657d3954f5daa98e .centered-text-area { min-height: 80px; position: relative; } .ua22bef8175d57633657d3954f5daa98e , .ua22bef8175d57633657d3954f5daa98e:hover , .ua22bef8175d57633657d3954f5daa98e:visited , .ua22bef8175d57633657d3954f5daa98e:active { border:0!important; } .ua22bef8175d57633657d3954f5daa98e .clearfix:after { content: ""; display: table; clear: both; } .ua22bef8175d57633657d3954f5daa98e { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ua22bef8175d57633657d3954f5daa98e:active , .ua22bef8175d57633657d3954f5daa98e:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ua22bef8175d57633657d3954f5daa98e .centered-text-area { width: 100%; position: relative ; } .ua22bef8175d57633657d3954f5daa98e .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ua22bef8175d57633657d3954f5daa98e .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ua22bef8175d57633657d3954f5daa98e .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ua22bef8175d57633657d3954f5daa98e:hover .ctaButton { background-color: #34495E!important; } .ua22bef8175d57633657d3954f5daa98e .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ua22bef8175d57633657d3954f5daa98e .ua22bef8175d57633657d3954f5daa98e-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ua22bef8175d57633657d3954f5daa98e:after { content: ""; display: block; clear: both; } READ: Dear Shakespeare: A Critique of The Tempest EssayWhen women meet, they exchange kisses why placing their cheeks together and kissing the air First names used often, but titles important Music and long animated conversation are favorite Brazilian habits. When conversing, interruptions viewed as enthusiasm. Brazilian enjoy joking, informality, and friendships Portuguese is the language of Brazil Good conversation topics: soccer, family, and children Bad conversation topics: Argentina, politics, poverty, religion, and the Rain Forest Stay away from phases such as, Is it true that everyone in Brazil is either very rich or very poor? It is very likely you will be talking with someone that isnt either one Question 3: Imagine that the situation in this case was reversed, that is, the Brazilian businessmen were coming to the U. S. To look for a supplier. What would you tell the Brazilian about American business culture to prepare them for success? Answer: American greetings are generally quite informal. This is not intended to show lack of respect, but rather a manifestation of the American belief that everyone is equal. Americans view the business card as a source of future information and tend to exchange cards casually. There is no set ritual for exchanging business cards, Negotiations may seem rushed to you, Remember that time is money to Americans and that they may not think that building a relationship with potential business partners is necessary, Do not be afraid of hurting someones feelings by responding no to an invitation. People will be offended if you say you will attend and then do not cone. Americans prefer directness in communication. When Americans say yes or no, they mean precisely that. Maybe really does mean it might happen; it does not mean no.