Company Investigation
The company I investigated: Co-operative Group
The Co-operative Group offers many services. Today, in Britain, food
retail accounts for nearly half of the co-ops turnover. Food stores
are obviously the most recognisable face of the co-op on the high
street, but the co-ops general picture is much broader As well as
travel agencies, funeral services, housing, the co-op has a bank (The
Co-operative Bank or CIS) which offers car dealership and credit
unions and much more.
In this report, I will be studying the four main functional areas of
my organisation, sales, purchasing, finance and operations and how ICT
helps the company to function properly. I will be looking in detail at
how ICT is used by the Co-op to manage the operation of its stores in
the UK. As well as interviewing members of staff from my local
Co-op/Late shop, I have gathered information from the Co-ops website,
www.co-op.com to cover aspects such as the history of the organisation
and other less obvious services it offers.
General Information- The Late Shop
Welcome to the Co-op Online DirectoryThe Late Shop part of the
Co-operative Group; a high street supermarket selling food,
electrical, home ware, funeral and financial services. It has a
sufficiently ran delivery service which allows buyers to have
electrical goods safely delivered to the door and you even can
purchase goods on-line.
Size- Staff, stores and customers
In the UK, the Co-operative group employs around 100,000 people, the
Late Shop, which I observed, has 17 workers, both of which work full
time and part time: thirteen being part time workers and four b...
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... better idea to do
this on a program such as Microsoft Excel, this way, a record could be
kept of the shifts people have done in previous months and it would be
neater, easier to update and to read, plus it would be more easier to
display to people such as the Area Manager. The Co-op is way off
having a paperless office; there are files and files of paperwork and
notes hanging around. At the Late Shop I went to, this system was
effective to the people that use it everyday, but to someone that
would come into the office, it may be difficult for them to get to
grips with and to organise. To make things much more organised, I
think ICT could be used more effectively.
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[1] http://www.co-op.co.uk/
[2] Adapted- Folens GCSE Applied GCSE Text Book
The stores and their merchandise were set up that all the stores were very similar. Operational efficiency has been a crucial part of achieving low prices while still ofering high level of customer service. The company was assesing and upgrading its information to support its growth and control cost, and enable better decision making. The company continued to see greater efficiency as a result of its Electronic Data Interchange program.
S-Corporations An S-Corporation or S Corp is formed by an IRS tax election. IRS Code sections 1361 through 1379. When a S Corp is formed, it must first have a charter in the state where the headquarters of the S Corp is located. The approach that an S Corp is taxed is different from other business organizations that have been examined previously, because profits and losses can carry over to your personal tax return. This happens because the S Corp itself is not taxed, however the investors are taxed.
Reducing the risk of misstatements in your financial statements caused by fraud or error is the key to gaining the trust of your donors. Azadzoi Auditing Company is pleased to propose auditing services to your non-profit organization to help you become a trustworthy organization for your donors.
“Ask why.” This was the slogan for the company Enron—a company riddled with corporate crime. The documentary Enron: The Smartest Guys in the Room describes the corrupt practices of this once seventh-largest company in the United States. Examining this film allowed me to “ask why” this company engaged in these criminal practices, and why corporate crime exists, in general. Currently, there is no real theory attempting to explain white collar crime, so instead, in this essay I will be looking at 5 different factors that I believe are helpful for understanding corporate crime including: corporate culture, the drive for profit, the structure of organizations, socialization and learning, as well as a motivated and persuasive leader.
do such actions. The short answer mostly greed today I will be talking about three
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Enron once the nation 's seventh largest corporation, valued at more than sixty billion dollars. Turned out to be little more than a series of lies, manipulation, and scams. Referred to now as a house of cards built over a pool of gasoline. This in many ways was a company with a corporate culture centered on greed with no regard to ethical choices.
Piercing the Corporate Veil Since the establishment in Salomon v Salomon, the separate legal personality has been long recognised in English law for centuries, that is to say, a limited liability company has its own legal identity distinct from its shareholders or directors. However, in certain circumstances the courts may be prepared to look behind the company at the actions of the directors and shareholders. This is known as "piercing the corporate veil". There are numerous cases concerning the "piercing the corporate veil", among which, Jones v Lipman[1] was a typical case. Lipman sold land to Jones by a written contract but refused to complete the sale because of another good deal, instead he offered damages for breach of contract.
Cooper, Ryan. “The Great Recession never ended.” The Week - All you need to know about everything that matters, THE WEEK, 27 July 2017, theweek.com/articles/714423/great-recession-never-ended.
As a consequence of the separate legal entity and limited liability doctrines within the UK’s unitary based system, company law had to develop responses to the ‘agency costs’ that arose. The central response is directors’ duties; these are owed by the directors to the company and operate as a counterbalance to the vast scope of powers given to the board. The benefit of the unitary board system is reflected in the efficiency gains it brings, however the disadvantage is clear, the directors may act to further their own interests to the detriment of the company. It is evident within executive remuneration that directors are placed in a stark conflict of interest position in that they may disproportionately reward themselves. The counterbalance to this concern is S175 Companies Act 2006 (CA 2006) this acts to prevent certain conflicts arising and punishes directors who find themselves in this position. Furthermore, there are specific provisions within the CA 2006 that empower third parties such as shareholders to influence directors’ remuneration.
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Enron Corporation was an American commodities, energy, and services company that was based out of Houston, Texas. This corporation was founded in 1985, resulting from the merger between InterNorth and Houston Natural Gas, these were both moderately small businesses in the United States. Before Enron’s bankruptcy on December 2, 2001, it had nearly 20,000 employees and was one of the global leaders in the communications, electricity, natural gas, and pulp and paper market, with declared earnings of approximately $101 billion during 2000. Enron was termed “America’s Most Innovative Company” by Fortune for six years in a row.
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