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Entrepreneurship is, in many ways, the lifeblood of our economy. Each year, more than half a million businesses are started, and millions of jobs are created in the United States alone. Additionally, the entrepreneurial itch helps advance technology and diversifies the economy.
I once knew a man who worked for a major oil company. He managed a large wholesale territory that sold fuel and oil products to airlines and other big accounts. Some years ago, the company decided to pull out of his territory. They offered him the opportunity to buy the wholesale business “for a song,” which he readily accepted. He worked diligently and set specific financial goals for his company. He committed these goals to writing on 3x5 cards and kept them in his shirt pocket so he could frequently review them. Everything he did with that business was aimed at fulfilling these goals.
Judith Martin, of Miss Manners newspaper fame, wrote in a recent column, "Question: At what age should children be taught how to eat properly? Answer: In their mid-to late-twenties. Question: What is the best venue for this instruction?
This is the third of a five-part personal financial planning series sponsored by the Peery Institute of Financial Services. The next installment, about getting out of debt, will appear in the Fall 2005 issue.
In finance there’s a well-known problem called the principal-agent conflict. The conflict arises when managers and owners of a firm have different incentives. When that happens, managers may make decisions that benefit themselves at the expense of owners.
A student-initiated fundraiser is reaching new heights at the Marriott School. The second annual Corporate Climb, held 26 March 2005, helped raise more than $12,000 for the school’s annual fund. Participants sprinted up stairs and raced around corners—but not because they were late for class.
Assistant Dean Joseph D. Ogden discusses the growing impact of fraud with international fraud expert and Associate Dean W. Steve Albrecht. Albrecht has published more than eighty articles in professional journals and numerous books on fraud, personal finance, and accounting. Throughout his career he has consulted for more than sixty-five organizations including British Petroleum, Bank of America, General Motors, IBM, the United Nations, and the FBI. In addition, he has served as an expert witness in twenty-six major fraud cases, the largest of which was $2.8 billion. Finally, Albrecht has been recognized by Accounting Today as one of the top one hundred most influential people in accounting.
My family and I are very proud to have our name associated with this great school—not only because it’s a terrific educational institution, but because we espouse similar values.
Industrious alaskans have developed unique stress management techniques. Many employers in the northern region give employees “subsistence leave” as a negotiated benefit. How do the thrifty natives use their subsistence leave? They prepare for the cold months ahead by drying and packaging hundreds of fish and enjoy family time together handpicking quarts of blueberries.
Lessons from Joseph Smith, Lehi, and the Recent Accounting Scandals
Who’s Putting Their Money Where Their Mouse Is?
Successful organizations are dynamic, not static, always looking for a better way of doing business. With a vision of what they want to become, they set goals that make the vision a reality.
After a quarter of a century, we pause to look back at the development and growth of the now worldwide Management Society.
After living and working in London for the past three years and having recently moved to Dublin, where pub culture is the hub of social interaction, I have been extended many invitations to “grab a pint” after work.