LABRST 1C03 Lecture Notes - Public Administration, Neoliberalism

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23 Apr 2013

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Service sector jobs produce services rather than tangible products for exchange. Industries in service sector: transportation, business services, education, health and welfare, public administration, retail and other consumer services, property services. The service sector is tiered- there are high end and low end industries. A quarter of all service sector workers are found in property services and retail and other consumer services: today, service sector dominates. In 1891 the service sector accounted for around 30 percent of labour force. Currently the service sector accounts for over 75 percent of the labour force. Manufacturing has been offshored and streamlines (as are jobs in the resource extraction) through the process of neoliberalism. As the manufacturing sector declines the jobs that were available were more precarious and low paying (rise in flexible labour) There is less union density in the service sector, especially in the lower tier.

Related Questions

12. For the purpose of government-wide financial statements, thecost of cleaning up a government-owned landfill and closing thelandfill

A) Is not recognized until the costs are actually incurred
B) Is accrued and amortized over the expected useful life of thelandfill
C) Is accrued on a pro-rated basis each period based on how fullthe landfill is
D) Is accrued in full at the time the costs become estimable
E) Is treated as an encumbrance at the time it become estimable andas an expenditure when it is actually paid

13. Drye Township has received adonation of a rare painting worth $1,000,000. For Drye'sgovernment-wide financial statements, three criteria must be metbefore Drye can opt not to recognize the painting as an asset.Which of the following is not one of the three criteria?(1.) Thepainting is held for public exhibition, education, or research infurtherance of public service, rather than financial gain.(2.) Thepainting is scheduled to be sold immediately at auction.(3.) Thepainting is protected, kept unencumbered, cared for, andpreserved.

A) Item 1 is not one of the three criteria
B) Item 2 is not one of the three criteria
C) Item 3 is not one of the three criteria
D) All three items are required criteria
E) None of the three items are required criteria

14. Which of the following is nota criterion of a capital lease?

A) The lease transfers ownership of the property to the lesseeby the end of the lease term
B) The present value of the minimum lease payments equals orexceeds 90 percent of the fair value of the leased property, net oflessor's investment tax credit
C) The lease contains an option to purchase the leased property ata bargain price
D) The lease contains an option to renew
E) The lease term is equal to or greater than 75 percent of theestimated economic life of the leased property

15. Which statement is falseregarding the government-wide Statement of Net Assets?

A) The purpose of the Statement of Net Assets is to report theeconomic resources of the government as a whole
B) Assets are reported excluding capital assets
C) Capital assets are reported net of depreciation
D) Investments are reported at fair value rather than historicalcost
E) Business-type activities include Enterprise Funds

16. Which statement is falseregarding the Balance Sheet for Fund-Based Statements?

A) The Balance Sheet for Fund-Based Statements measures onlycurrent financial resources of the governmental entity
B) The Balance Sheet for Fund-Based Statements uses the modifiedaccrual method for timing purposes
C) Capital assets are not reported on the Balance Sheet forFund-Based Statements
D) The Balance Sheet for Fund-Based Statements measures onlylong-term financial resources of the governmental entity
E) Long-term debts are not reported on the Balance Sheet forFund-Based Statements

17. The city operates a publicpool where each person is assessed a $2 entrance fee. Which fund ismost appropriate to record these revenues?

A) General Fund
B) Enterprise Fund
C) Special Revenue Fund
D) Internal Service Fund
E) Capital Projects Fund

18. Which of the following typesof health care organizations follow FASB Accounting StandardsCodification for GAAP?

	Investor-Owned Health Care Enterprises	Not-for-Profit Organizations	Governmental Health Care Organizations
A)	Yes	Yes	No
B)	Yes	Yes	Yes
C)	No	No	Yes
D)	Yes	No	Yes
E)	Yes	No	No

A) Entry A
B) Entry B
C) Entry C
D) Entry D
E) Entry E

19. In accruing patient chargesfor the current month, which one of the following accounts should ahospital credit?

A) Accounts Payable
B) Deferred Revenue
C) Unearned Revenue
D) Patient Service Revenues
E) Accounts Receivable

20. Which account would becredited in recording a gift of medicine to a nursing home from anoutside party?

A) Nonoperating Gain - Contributions
B) Contractual Adjustments
C) Patient Service Revenues
D) Drugs and Medicines
E) Nonoperating Revenues - Contribution

21. Unconditional transfers ofcash or other resources to an entity in a voluntary nonreciprocaltransaction is the GAAP definition for

A) miscellaneous revenues
B) contributions
C) unconditional promises to give
D) exchange transactions
E) pledges

22. On a statement of functionalexpenses for a voluntary health and welfare organization, how areexpenses classified?

A) Health services expenses and operating expenses
B) Program services expenses and administrative servicesexpenses
C) Program services expenses and supporting services expenses
D) Operating expenses and supporting services expenses
E) Operating expenses and administrative expenses

peachlion740

This week we are studying the External Environment as a criticalpart of developing strategy. A PESTEL Analysis is one of the majortools you use in studying the external environment.

STEP 1 - Please perform a quick PESTEL Analysis anddetermine what the biggest risk is to each company. Your task is todetermine the biggest PESTEL risk to each company and notnecessarily a comprehensive analysis.

STEP 2 - You have $1 million to invest in thesecompanies. You can invest in one, two or even all of them. Whichones would you invest in? How much of the $1,000,000 would youinvest? You must hold the investment(s) for fiveyears.

Analyzing the External Environment with PESTEL

This week we are studying the External Environment as a criticalpart of developing a strategy. A PESTEL Analysis is one of themajor tools you use in studying the external environment.

STEP 1
Please perform a quick PESTEL Analysis and determine what thebiggest risk is to each company. Your task is to determine thebiggest PESTEL risk to each company âand not necessarily acomprehensive analysis.

STEP 2
You have $1 million to invest in these companies. You can invest inone, two or even all of them. Which ones would you invest in? Howmuch of the $1,000,000 would you invest? You must hold theinvestment(s) for five years.

Alibaba Group Holding Limited is a publicly tradedHangzhou-based group of Internet-based e-commerce businesses,including business-to-business online web portals, online retailand payment services, a shopping search engine and data-centriccloud computing services. In 2012, two of Alibabaâsportals handled1.1 trillion yuan ($170 billion) in sales. The company primarilyoperates in China, and at closing time, on the date of its historicIPO, 19 September 2014, Alibaba's market value was measured asUS$231 billion. The group began in 1999 when Jack Ma founded thewebsite Alibaba.com, a business-to-business portal to connectChinese manufacturers with overseas buyers.

Alibaba's consumer-to-consumer portal Taobao, similar to eBay,features nearly a billion products and is one of the 20most-visited websites globally. The Group's websites accounted forover 60% of the parcels delivered in China by March 2013, and 80%of the nation's online sales by September 2014. Alipay, an onlinepayment escrow service, accounts for roughly half of all onlinepayment transactions within China.

Conagra Brands Inc. is an American packaged foods companyheadquartered in Chicago, Illinois. ConAgra makes and sellsproducts under various brand names that are available insupermarkets, restaurants, and food service establishments. ConAgrawas founded in 1919 and in 1940, the company began producing flourat its own mill. It created the Duncan Hines brand of cake mixes in1951 as a way to market more flour. It is currently the thirdlargest flour miller in the U.S. ConAgra produces a wide array offood products including cooking oil, frozen dinners, hot cocoa, hotdogs, peanut butter and many others. Some of ConAgra's major brandsinclude Hunt's, Healthy Choice, Marie Callender's, OrvilleRedenbacher's, Slim Jim, Egg Beaters, Hebrew National, P.F. Chang'sHome Menu and Bertolli.

Cumulus Media Networks is an American radio network owned andoperated by Cumulus Media. It controls many of the radio assetsformerly belonging to the American Broadcasting Company (ABC),which was broken up in 2007; Cumulus owns the portion of thenetwork that was purchased by Citadel Broadcasting that year. Thenetwork adopted its current name in September 2011, followingCumulus's acquisition of Citadel; prior to this, it had been knownas Citadel Media Networks since April 2009, after licensing the"ABC Radio Networks" name from The Walt Disney Company for nearlytwo years. The company is helmed by two radio executives fromAtlanta. Prominent hosts carried by Cumulus Media Networks includeDon Imus, Geraldo Rivera, Mike Huckabee, Mark Levin, MichaelSavage, Jim Brickman, Adam Bomb, Kix Brooks (American CountryCountdown), and Tom Kent.

Kaplan, Inc. is a for-profit corporation headquartered in NewYork City and was founded in 1938 by Stanley Kaplan. Kaplanprovides higher education programs, professional training courses,test preparation materials, and other services for various levelsof education. It is a wholly owned subsidiary of Graham HoldingsCompany, formerly known as The Washington Post Company.

Kaplan Higher Education is a group of institutions that offerclassroom and online certificate and degree programs in fields suchas criminal justice, health care, business, information technology,and legal studies. Iowa College Acquisition Corporation, operatingunder the Kaplan University brand, also offers online programs. Atyear-end 2013, Kaplan Higher Education had approximately 60,300students enrolled. Kaplan Professional offers education forlicensing, certification, and training purposes, in areas includingaccounting, insurance, securities, real estate, financial planning,information technology, and architecture. Established in 1938,Kaplan Test Prep sells preparation materials for standardized teststhrough tutoring, on-site classes, asynchronous and live programs,print books, and digital products. With programs for individuals,schools, and businesses, Kaplan Test Prep offers preparation formore than 90 standardized tests.

VTB Bank is one of the leading universal banks of Russia. VTBBank and its subsidiaries form a leading Russian financial group âVTB Group, offering a wide range of banking services and productsin Russia, CIS, Europe, Asia, Africa, and the U.S. The Groupâslargest subsidiaries in Russia are VTB24, Bank of Moscow, andTransCreditBank. VTB was ranked 236th on the FT Global 500 2011,The Financial Timesâ annual snapshot of the world's largestcompanies. It climbed to 82nd in the ranking of the 500 largestcompanies in Europe, the FT Europe 500 2011, and to 38th in the FTEmerging 500 2011, the list of the 500 largest companies on theworldâs emerging markets. The Moscow-based bank is registered inSt. Petersburg and came 65th in the British magazine The BankerâsTop 1000 World Banks in terms of capital in 2010.

Wyndham Worldwide Corporation headquartered in Parsippany-TroyHills, New Jersey, operates several hotel brands across the world.Wyndham Hotel Group offers brands in lodging franchising, vacationownership, vacation rentals, and vacation exchange. It is composedof nearly 7,400 hotels under 15 brands spanning 66 countries in sixcontinents, competing in brand markets ranging from economy toupscale. In 2008 it purchased US Franchise Systems, Inc., owner ofthe Microtel and Hawthorn Suites brands.

Its brands include Days Inn, Dolce, Hawthorn Suites, KnightsInn, Microtel Inn & Suites, Ramada, Super 8, Travelodge,Wyndham Hotels & Resorts, and Wyndham Grand Collection. Itreported 2015 revenue of $5.5 Billion and is listed on the NYSE(WYN)

ZTE Corporation (formerly Zhongxing Telecommunication EquipmentCorporation) is a Chinese multinational telecommunicationsequipment and systems company headquartered in Shenzhen, China. Itis the world's fourth-largest mobile phone manufacturer. It alsooffers products that provide value-added services, such as video ondemand and streaming media. ZTE primarily sells products under itsown name but it is also an OEM.

With the evolution of the mobile industry, ZTE has grownsignificantly in its handset business and ranked No. 4 for bothmobile phone and smartphone domains as of Q2 2013. And ZTE won the5th place in U.S. smartphone market.

ceruleanworm26

Case Study #3

TO WAL-MART OR NOT TO WAL-MART?

Wal-Mart is a $250-billion-a-year retailer. Eighty two percent of U.S. households made a

Wal-Mart purchase in 2002. It is the largest company in the world with a global

workforce of 1.4 million. Where Wal-Mart competes the average grocery prices are 14%

lower. In the past it was General Motors, IBM and other companies that were considered

to be the leaders in industry and the ones to watch. Now it is Wal-Mart that is being

studied in universities around the world.

At Wal-Mart, cost is king. Costs are kept low and this translates into goods being sold

for less. The entire organization is focused on reducing costs and passing those savings

on to the consumer. This allows poor people to buy food and other necessities that they

otherwise might not be able to afford. In the U.S. it dominates sales in a number of

categories : 32% of disposable diapers, 30% of hair products, 26% of toothpaste, 20% of

pet food and 13% of textiles.

Wal-Mart simply has developed the most efficient methods for operating their business.

Their inventory management, through a network of scanners, computers, and at-the-ready

suppliers, makes it the leader in successful turnover of inventory. How can we blame

Wal-Mart for being the efficient cost conscious giant that it is?

The Wal-Mart phenomenon has occurred at the same time that high-paying skilled jobs

are being lost in the manufacturing sector. When these jobs are lost, the alternative often

means being employed at Wal-Mart at a much lower pay scale with reduced benefits

such as medical insurance. Its labor costs are twenty percent less than those at

unionized supermarkets, and sales clerks make less, on average, than the federal poverty

level ($8.50 an hour).

Barbara Ehrenreich* has described the problems faced by the under class, such

as waitresses and Wal-Mart employees. They barely survive on a day-to-day basis, living

from hand to mouth, with no reserves, no safety net, no medical insurance and almost no

prospect of improving their positions in life.

The loss of manufacturing jobs has affected the lifestyles of many people. What they see

is the reality of reduced opportunity with a permanent reduction in wages and standards

of living. They are trapped in a new marketplace, with diminishing expectations and few

alternatives to shopping at Wal-Mart. This is a change in our American culture--the

dreams have now been down-sized.

Is Wal-Mart the hero or the culprit? After all, low prices, competition, and growth have

all been mantras that Americans have been chanting all of our lives. We were

told that if you built a better mouse trap, everyone would come to you. Well, Wal-Mart

has built a better mouse trap. Is there any logic in our looking at Wal-Mart as a

contributor to the loss of some our middle class or is it just jealousy and sour grapes?

For one thing, its hard line on costs has forced many factories to move overseas.

Wal-Mart imported most of the items it sells. Environmental standards

are lower in these countries where these goods are manufactured than they are in the

U.S. This probably results in increased health issues and costs. In addition, shipment of

goods many thousands of miles to their ultimate destinations, involve utilizing the

worldâs limited oil resources. When you add up all this, the cost of the goods may be

greater than if they were produced in this country.

Another issue is that Wal-Mart is a non-union employer paying wages that are below the

poverty level, with minimal health insurance coverage. As many employees cannot

afford the co-payment required for doctors office visits, when a medical crisis occurs they

are forced to use the emergency room facilities of local hospitals. The result is that the

community bears the direct cost of their medical treatment and the indirect, as well as

ancillary costs such as diminished work capacity, child care, etc.

There are other economic ramifications to the Wal-Mart explosion. When Wal-Mart

arrives in a town, âmain streetâ erodes. Neighborhood stores that used to provide goods,

services and paid their workers well, are eliminated, uprooting families and ways of life

in the process. The Wal-Mart decision to saturate Oklahoma City, resulted in the closure

of 30 supermarkets.

If Americans shop with price being the only factor that determines where they

purchase their goods, doesnât this mean the permanent down-sizing of our standard of

living? How can the local retail establishment survive when they canât compete with a

Wal-Mart? Look at what has happened to the local supermarket, bookstore, hardware

and clothing store. The demise of these small business constitutes the loss of a middle

class of society in a community. We need to think: As consumers are we better off

paying a little more to enable the local merchants and their families to survive in order to

preserve the character of our communities and society or should we concern ourselves

with price only?

HERE IS YOUR DILEMMA:

You are the mayor of a small city in the West. You canât worry about the 4,700 workers

at IBM and the other workers at technology companies who lost their jobs. Your problem

is a more local one.

A Wal-Mart representative has approached you about the possibility of building a super-

store within your city limits. The store would serve communities within a twenty-five mile

radius. The land that they intend to build upon would require new zoning. Wal-Mart

would expect a certain amount of property tax and other relief. If your city does not

want a super-store, you are certain that one of the other towns close-by would be happy

to accommodate their needs.

What studies would you require before deciding which way to vote? What ramifications

do you foresee with this new super-store? What would you ask of Wal-Mart before

agreeing to their request? How much input would you seek from the residents of your

city

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LABRST 1C03 Lecture Notes - Public Administration, Neoliberalism

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