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The eight-millennium goals are the goals that were discussed
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The eight-millennium goals are the goals that were discussed and agreed upon by member states that they will try to achieve by the year 2015. They were put into place in the year 2000, and in 2016 the sustainable development goals succeeded the millennium development goals. The goals are as a beam of hope in the world torn apart by so many issues affecting every human being. However, these goals were reasonable; achieving them needed a relentless government and a people full of hope and faith that it was possible. Even though a large percentage was completed, there remain many of them unachieved. The millennium development goals included; ensuring stability of the environment and developing a global partnership for development, achieving universal basic education, promoting gender equality and empowering women, reducing child mortality rate, combating HIV/AIDS, malaria and other diseases, eradicating extreme hunger and poverty, improve maternal health (World Bank, 110).
The governments of all the member states have put a lot of effort into this, and with the assistance of other governments, a lot has been achieved, which can be celebrated. For example, there has been accessing to primary education to a higher degree in 2015 than in 2000. However, extreme poverty is not yet fully dealt with, and it is a sad state of affairs. This is because poverty is caused by very many factors that have to be dealt with. The above millennium development goals have been a close check for most governments. Those who could not achieve them are still striving to achieve them or even supersede them shortly as the new sustainable development goals to be completed by 2030, which were set in 2015. Issues like environmental stability bring humanity together, which is a perfect sign of unity with a common purpose. The same ought to be extended to other areas of life and society to works towards realizing peace and harmony in working together and making the world a better place by reflecting and doing what one is capable of doing to achieve the sustainable development goals currently in place of millennium development goals (Chinnammai, 13).
Globalization refers to the integration of international markets, and it is through this, interaction is enhanced, and people from diverse cultures and backgrounds meet. This is one of the reasons the world is called a small village. People can travel from any part of the world to another; people can also buy goods and services from any part of the world to another and many other international businesses resulting from globalization. The definition of globalization is the interdependence of the world’s economies. Academic literature divides globalization into three aspects which are economic, political and cultural globalization. According to academic literature globalization is divided into three aspects that is; economies, cultural and political globalization. There is also geographic globalization which means people travelling and living in different countries or parts of the world depending with the desire of an individual.
Some of the causes of globalization include; improved technology, improved transportation, introduction and use of national trade blocks, and global media growth, among other factors. This has negative and positive aspects. Some of the negative characteristics include; fluctuating prices for commodities, job insecurity, poverty alleviation, unemployment, displacement of workers, and increased diseases. These negative factors caused by globalization continue to affect the world. However, most of them existed only that globalization tends to accelerate how they grow fast and cover a large area or over a large population.
Apart from the harmful effects, globalization also has positive results, which include; access to a variety of goods and services at low costs, eradicating poverty, especially in third world countries, better information, and technology, increase in the level of cultural awareness, elimination of currency manipulation among other harmful factors.
In conclusion, the 8-millennium development goals were crucial in gearing the world to a better place in all aspects which matter, and they played a significant role in re-aligning the world into the right state of affairs. The globalization we are facing today is also excellent and negative; however, it is more important to each one of us when used positively for appositive gains.
Works cited
Chinnammai, S. “Effects of globalization on education and culture.” New Delhi (2005).
Haines, Andy, and Andrew Cassels. “Can the millennium development goals be attained?.” Bmj 329.7462 (2004): 394-397.
World Bank. “Millennium Development Goals.” 2015. 109c-112.
World Health Organization. Millennium development goals. No. SEA-HSD-271. WHO Regional Office for South-East Asia, 2004.
PREPARING AN ENFORCEABLE CONTRACT
PREPARING AN ENFORCEABLE CONTRACT
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When two parties enter into a legally binding agreement, it is called a contract. The contract must also contain the following elements; offer and acceptance, intention between the parties to enter into legally binding relations, consideration paid for the promise, legal capacity for the parties to act, genuine consent between parties and legality of the agreement. Miller & Jentz describe a contract as “ legally binding agreement between two parties that creates an enforceable obligation” (pg 209).
A valid business contract has some elements that make it complete and whole. These are an offer, acceptance, consideration, legal capacity and legality. The first element of a valid business contract is offer. This is a definite promise that must be bound if the offer terms are accepted. It is also considered an acceptance to enter into a bargain as a way of demonstrating to the other party their desire to enter into the same bargain and finalize it.
Acceptance takes place when the other party on the other end of the offer agrees to it through a statement or an act. This must be unequivocal and communicated to the actual offer, or the law does not consider it an acceptance to the offer merely because the other party did not reject it.
Consideration is the actual promise’s price to the other party. It must be “of value, right, or forbearance undertaken by one party and potentially leading to the other party in the circumstances surrounding an offer” and contract for that matter (Gitman & McDaniel, 2009). The only exception to this rule of consideration occurs in cases of documents under seal. They do not require consideration for there to be a binding contract.
Not all people can enter into legally binding contracts. Any contract such people enter into or create are considered to be subject to a problematic consent and dealt with in special ways. These people who lack the capacity to enter into legally binding contracts include; those with mental impairment, minors who are below the age of suffrage, those declared bankrupt, prisoners and corporation acting on behalf of others.
The element of legality in valid business contracts does not arise simply from the willingness between the parties to enter into an agreement. The will to enter into a legally binding agreement must be present. While this is not explicitly stated, it is deduced from the conditions surrounding the contract’s formation.
Breach of contract entails an unjustifiable inability to perform on all or part of the contractual duty. Gillies (2004) states “this is caused by non-performance on one side of the parties or it interfering with the other party” (pg 231). Breach of contracts is either actual or anticipatory. Actual breach of contracts involves one party failing to perform his side of the bargain, or fulfilling his side of the contractual terms. Anticipatory breach of contracts involves one party stating their intentions of not meeting the contractual terms on a date before the due contract-execution date.
The Statute of Fraud is the requirement stipulating that some contracts be recorded in writing and signed. In addition, there must be sufficient content put on record to evidence these contracts. Statute of Frauds apply in special cases, these are; during marriages, when the contract cannot be performed within one year, transfer of interest in land, contracts involving the executor of a will paying off debts incurred by the estate with his own money, and the sale of goods exceeding 500 US dollars.
The “relationship between elements of a contract and Statute of Frauds is in the consideration of the individual circumstances surrounding both” (Friedman, 2009). The elements of a contract are the building blocks of the Statute and are used in applying and resolving disputes arising from contractual agreements –such as breach of contract.
Contractual statement for the sale of a used Chevrolet Camaro
This is a contract made between the seller, Mike and the buyer, Jim for the sale of the seller’s 2008 Chevrolet Camaro.
The vehicle is a fairly used, red, 2008 Chevrolet Camaro in good condition. The interior is clean, but the exterior shows signs of normal usage, such as few scratches and dents on the body work. It is a functional convertible sports car with good mileage and signs of good maintenance as indicated in the vehicle’s records.
The VIN number HV34777GH99 and the odometer read 45896miles as of 12th November, 2014.
The date of sale is 12th November 2014.Buyer agrees to pay the seller the purchase price of US $ 600 to be paid in cash.
The car is sold “AS IS”. The seller makes no warranties about the condition of the car.
Seller will provide the buyer with the vehicles title and DOT inspection certificate.
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Witness Date
References
Friedman, J. W. (2009). X. In Contracts (p. 54). New York: Aspen Publishers.
Gillies, P. (2004). Vitiating elements: Mistake. In Business law (p. 231). Sydney: Federation Press.
Gitman, L. J., & McDaniel, C. D. (2009). The future of business: The essentials. Mason, OH: South-Western Cenage Learning.
Miller, R. L., & Jentz, G. A. (2008). Contracts: Nature, Classification, Agreement and Consideration. In Business law today: The essentials : text & summarized cases : e-commerce, legal, ethical, and international environment (p. 209). Mason, OH: Thomson/West.
Preparing A Balance Sheet
Preparing A Balance Sheet
Balance sheets are essential in the human resource accounting. They provide important data and information to the department. That is, they assist in the identification of the reasons as to why the return on investment is low (Bohlander, 2012). Indentify such activities will assist the human resource to understand ways of prevention or mitigating them. Individuals having interest of investing in an organisation will want guidance from the human resource manager. Balance sheets will assist in availing important details to the investor. High turnover on investment is another hurdle that human resource department has to deal with. Balance sheets give information of various departments or levels that there is such occurrence and guide involved parties on appropriate ways of containing them. Still on financial information, balance sheets will avail monetary data to the executives of the department on the potential of that department. As such, there is direct reflection of the expenditure that HRD incurs in the staffing, recruitment, developing and the training of labour (Griffin, 2001). Through balance sheets, managers will also understand the return of such expenditure to the company and its impact.
Activity: Preparing a balance sheet
SIMONSON ENGINEERING BALANCE SHEET AS AT 30 SEMPTEMBER 2010
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Non-Current Assets Plant and equipment 25,000
Property 72,000
Motor Vehicles 15,000
Fixtures and fittings 9,000
Total Non-Current Assets 121,000
Current Assets Trade receivables 48,000
Inventories 45,000
Cash 1,500
Total Current Assets 94,500
Total Assets 215,500
Equity (Owner’s Claim) Equity at 1 October 2009 117,500
Drawings for the year to 30 September 2010 15,000
Profit for the year to 30 September 2010 18,000
Total 120,500
Non-current liabilities Long term borrowing 51,000
Current liabilities Short-term borrowing 26,000
Trade payables 18,000
Total Current and Long-term 95,000
Total Equity and liabilities 215,500
This activity of preparing a balance sheets lead to the realization of the fact managers in the HR can use them to acquire information and data on the value and the cost human resource (Talwar, 2006). It also illuminates quantum related to the acquisition of labour. An executive might also have an interest on the cost of running the department and comparing such cost with the benefits that the firm will derive from such activities (Boudreau, 2000). They will, in addition, assist an executive to manage the resource in a manner that maintains cost at lower levels while at the same time avoiding the compromise of the quantity and quality of the this resource. Such will allow the manger to improve or maintain the efficiency of this department on the entire department.
Human resource executives can use the information provided by a balance sheet to make effective and proper decisions in management (Griffin, 2001). That is maintenance, allocation, acquisition, and the development of human resources for the purposes of achieving objectives in the organisation that are cost-effective. Balance sheets also reflect the usage of human resources by management. In accordance to this, they provide important information to the manager making it easier to track the usage (Balkin, 2009). On long-term basis, managers can use financial information that a balance sheet will provide to make an analysis of the entire human labour asset. That is, they can easily make a determination of the assets in terms of if they are appreciating, conserving or depleting (Boudreau, 2000). There is also the provision of aid in the sector of developing important management principles. This assists human resource managers to make sustainable decision that will be relevant in the future.
Transfers and promotions are relevant in any organisation. Human resource manager has the responsibility of managing such activities. Making such decisions requires the availability of important information on the part of human resource department. Balance sheets provide the human resource manage with relevant information that will be critical in the making of such decisions. That is, it will give a reflection of areas that require additional human resource and levels that have excess labour. Balance sheets will also indicate areas that have low levels of training and allow the human resource manager to make recommendations to those departments to improve the skills of their personnel (Bohlander, 2012). Retrenchment issues or making the decisions of departments that will have to lay off employees is also the mandate of HRM. They can however use financial information that balance sheets provide to make evidence-based decisions.
Training of employees is expenditure to a firm. Using the balance sheets will give HRM the financial information that will reflect on the relevance of such activities (Balkin, 2009). Afterwards, HRM can make recommendation to department on whether there is good utilization of training finances awarded such departments. Such information gives executives the authority of making decisions that will steer the company in the desired direction (Noe, 2000). That is, through human resource accounting, a balance sheet allows policy-makers in the department to assess and understand the internal strengths and weaknesses of a company. Such data makes it possible for them to guide other departments in the organisation into the right direction for the benefit of the entire company (Pieper, 2000). This is an important vice especially if the company is facing unfavourable or adverse conditions at that particular moment.
In normal business practices, accounting for the human resource department is a challenge to a firm. Using balance sheets in the department will indeed be an attempt to account for the department (Pieper, 2000). As such, HR managers can use a balance sheet in the identification of investments made by the department of human resource. It also makes it easier to report such investments to the relevant parties. Balance sheets preparation will avail information of the entire system on the changes that are occurring in human resource department of any organisation. It is also important in quantifying value and the costs of employing the employees of that organisation (Weihrich, 2006). This has the meaning that it will provide human resource manager with systematic information that will enable efficient organisation of accounts in the department.
Discussions provided in this paper indicate the relevance of preparing balance sheets. Human resource managers derive lots of importance from the activity (Noe, 2000). They can understanding the investment that their firm is making and compare such investments with the compensation that the company acquires from it (Talwar, 2006). Such will allow the human resource manager to make important decisions regarding such investments and guide other departments. The long-term implication of this is that balance sheets preparation will have a direct reflection on the success of a HRM (Weihrich, 2006). It is for this reason that human resource accounting is an essential tool in any HR department. This is because the kind of information that the human resource manager acquire from the process will determine the success of that department. In addition, it will allow HRM to make evidence-based decisions.
References
Talwar, P. (2006). Human Resource Management. New York: Gyan Publishing.
Weihrich, H. (2006). Essentials of Management. New York; McGraw- Hill Publishers.
Pieper, R. (2000). Human Resource Management: An International Comparison. Berlin: Walter de Gruyter.
Balkin, R. L. (2009). Managing Human Resources. London: Pearson/Prentice Hall.
Boudreau, J. W. (2000).Human resource management. California: Irwin Publishers.
Noe, R. Y. (2000). Human resource management: gaining a competitive advantage. New York: McGraw Hill.
Bohlander, G. W. (2012). Managing Human Resources. Stamford: Cengage Learning.
Griffin, R. W. (2001). Human Resource Management. London: Houghston.