The American Dream The Dream Of Abundance - 1229 Words

freedom includes the opportunity for success and achievement, and an upward social flexibility for the family and children, completed through hard work in a society with few walls. The American dream has always been a staple of American culture. When people speak of it, they often refer to the first half of the 20th century. Despite this, the American Dream is just as relevant to American culture today as it was in the last century. In this essay, we will explore the American dream and just what it is. Firstly, it’s important to mention the American dream isn’t measured based on what an individual has. It must be measured on its principles and how they apply to society. Although the American dream isn’t as distinct from the rest of the†¦show more content†¦One can say the American dream has been born out of the constitution. It’s the constitution that allows it to exist. Without the rights enshrined in this document, the American dream wouldn’t be able to persevere. Today, the American dream is still relevant. How people achieve this dream has changed, but the basic principles of it haven’t. The difference today is young people may go to college instead of an apprenticeship to go about their pursuit of the American dream. In conclusion, the American dream is about both choice in the consumer industry and unlimited freedom of choice. These are principles Americans demand in everything they do. In many ways, the American dream has grown to symbolize more than just the consumer industry. The American dream is a symbol of a strong America. Here are the top reasons for believing in the national dream: 59%: â€Å"I’m intelligent and work hard, so I should succeed.† 52%: â€Å"America is the land of opportunity.† 25%: â€Å"I am an optimist.† 25%: â€Å"I have a secure job or business.† 15%: â€Å"My religious faith insures I will find fulfillment.† 2%: Not sure or other. Here are the reasons given by those who say the dream does not exist: 44%: â€Å"The powers that be don’t care about people like me.† 29%: â€Å"Americans shouldn’t think of themselves as special and entitled to an ideal life.† 27%: â€Å"Where I live, it costs too much, and the American Dream is just out of reach.† 14%: Not sure or other.Show MoreRelatedThe Failure Of The American Dream1092 Words   |  5 Pages The Unavoidable Failure of the American Dream When times are hard many resort to dreaming about their perfect image of what life can be. Their dream will be unattainable because life is never perfect. The American Dream is an idea many thought about during the Great Depression because times were harder for the average working American. The Great Depression occurred during the 1930s when the economy collapsed and eventually one out of four people became unemployed. The Dust Bowl added to the stressRead MoreNo Escape From The Incessant Dream918 Words   |  4 PagesThere is no escape from the incessant dream. It encompasses every factor of the modern American lifestyle. It all begins with The American Dream, in which everyone strives to become part of something bigger then themselves. The obsession, that supposedly defines how happiness can be obtained. But happiness is not, contrary to the beliefs of the American Dreamers, measured on a checklist including 2.5 kids, 1 dog, 1 cat, baby blue house in suburbs, white picket fence, 2 car garage, and a perfectlyRead MoreMy Opinon on the American Dream1393 Words   |  6 Pagesyou gave me. Thanks. The so-called American Dream is one of the most time-honored and clichà © phrases used to describe the conception of the United States. 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Successful mass productions of goods accelerate d buying activities, which promoted the economic development in the UnitedRead MoreThe Grapes Of Wrath And Of Mice And Men1644 Words   |  7 PagesJarvis Johnson Research Paper John Steinbeck is an American author of 27 books, widely known for award winning novels, The Grapes of Wrath and Of Mice and Men; Steinbeck is also a Nobel Prize winning of Literature. Steinbeck’s writing expresses realistic and creative thoughts, combining as they do compassionate comedy (through Lennie) and intense social perception with their surrounding national culture. John Steinbeck, â€Å"Of mice and Men†, Printed in 1937, articulating a tale of characters, GeorgeRead MoreThe Narrative of the Life of Frederick Douglass and its Illustrations of the American Dream1474 Words   |  6 PagesThe American dream can be defined as the promise of living in America with opportunities for all, regardless of social class, and according to their ability and effort (Schnell, 2010). Proponents of the American dream believe that there is equal opportunity for all in the American society to achieve success. Success is not pegged on social status, race, or creed, but rather on an individual’s own efforts. The definition of the American dream has unique interpretations to different people. The mostRead MoreThe Emptiness of the American Dream in The Great Gatsby Essay1130 Words   |  5 PagesGatsby’s sole purpose in life is to achieve the American Dream: to become a land owner, married to the love of his life, who live in comfort and abundan ce. However, he never gets everything he wants as his love for Daisy is not as fully reciprocated as he wishes it to be. His dream, and the one Nick pursues as well, are only dreams in the end. The culture of the time only gives empty fulfillment with no real substance. The people, like their dreams, are only illusions of what they want to be. Gatsby’sRead MoreRhetorical Analysis Of I Have A Dream Speech850 Words   |  4 PagesAt the March on Washington, August 28, 1963 Martin Luther King Jr. delivered the famous â€Å"I Have a Dream† speech. King was encouraged to write the speech because of all the injustices involving minority groups in America. He hopes to be a â€Å"beacon of light†(American Rhetoric:Martin Luther King) to many. Even though the â€Å"I Have a Dream† speech is targeted towards the negroes in the southern states in America that go through the struggle of inequality, it can be used to help all races. The purpose ofRead More Unfulfilled Dreams in The Great Gatsby by F. Scott Fitzgerald1401 Words   |  6 PagesUnfulfilled Dreams in The Great Gatsby by F. Scott Fitzgerald Everyone has dreams of being successful in life. When the word American comes to mind one often thinks of the land of opportunity. This dream was apparent with the first settlers, and it is apparent in today’s society. In F. Scott Fitzgerald, The Great Gatsby (1925), he illustrates the challenges and tragedies associated with the American dream. By examining Jay Gatsby, Tom Buchanan, and Myrtle Wilson through the narrator Nick CarrawayRead MoreThe Great Gatsby By F. Scott Fitzgerald1714 Words   |  7 Pagessneers at their indulgent, careless ways of living. At the same time, all of the characters, including Nick himself, are seduced by the American Dream and its deceiving glamor. Though the book may seem as if it endorses the class structure, ultimately Fitzgerald uses connotation, the personalities of his characters, and examples of failure of the American Dream in order to show the deficiency of the capitalist system and the class structure. The Great Gatsby is bursting with hidden meanings. Fitzgerald

Balance Sheet and Accounting - 8361 Words

WHAT HAS THE INVISIBLE HAND ACHIEVED? Ross L. Watts Sloan School Massachusetts Institute of Technology January 27, 2006 _____________________________ This paper was presented at the Institute of Chartered Accountants in England Wales Information for Better Capital Markets Conference in London on December 20, 2005. I am grateful to Ryan LaFond, Karthik Ramanna, Sugata Roychowdhury and Joseph Weber for their comments. All remaining errors are mine. 1. INTRODUCTION When I was invited to present at this conference I was asked to address the question: â€Å"What has the invisible hand achieved (in financial reporting).† This is a rather broad question and an impossible one to answer using the evidence in the empirical accounting†¦show more content†¦Section 5 predicts the eventual outcomes if the FASB and International Accounting Standards Board (IASB) continue in their apparent resolve to fundamentally change the nature of accounting and financial reporting. Finally section 6 provides a summary and my conclusions. 1 Evidence of the market ignoring unverifiable accounting numbers can be found in Leftwich (1983) who reports that debt contracts exclude goodwill when measuring total assets. 3 2. PRIVATE MARKET FORCES FINANCIAL REPORTING 2.1 Agency costs and financial reporting. The original development of accounting and financial reporting appears to be driven by control of agency costs. These costs arise when a principal delegates decision-making ability to an agent who maximizes his own welfare rather than that of the principal. There is considerable evidence that writing itself was developed in order to allow for accounting and control of the costs of agency relations such as that between a noble and a steward (de Ste Croix 1956; Yamey, 1962; Chadwick, 1992). Millennia later the wardens of English medieval guilds would prepare and present audited financial accounts as a mechanism to reduce agency costs (Watts and Zimmerman, 1983). The early English companies inherited this mechanism from the guilds. For example, even in its first years the British East India Company prepared annual audited financial statements and presented those statementsShow MoreRelatedBalance Sheet and Accounting Standards2406 Words   |   10 PagesANSWER SHEET STUDENT’S SURNAME........................................... OTHER NAMES.......†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦......................................... STUDENT NUMBER....†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.................................. TUTORIAL DAY TIME........†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦................... TUTOR’S FULL NAME......................................... Test 1 – Version 2 Session 2, 2012 Course Code: ACCG 224 Course Name: INTERMEDIATE FINANCIAL ACCOUNTING Time allowed: 55 minutes plus 5 minutes reading time Total No. of questions:Read MoreAccounting: Balance Sheet and Financial Statements1509 Words   |  7 Pagesprice-level accounting d. audit report 3. The percent of fixed assets to total assets is an example of e. vertical analysis f. solvency analysis g. profitability analysis h. horizontal analysis . 4. An analysis in which all the components of an income statement are expressed as a percentage of net sales is called i. vertical analysis j. horizontal analysis k. liquidity analysis l. common-size analysis 5. A balance sheet thatRead MoreInventory Accounting, Auditing, and Balance Sheet Components1145 Words   |  5 Pagesplanning the audit of a client s inventory, an auditor identified the following issues that need audit attention. 1. Inventories are properly stated at the lower of cost or market. 2. Inventories included in the balance sheet are present in the warehouse on the balance sheet date. 3. Inventory quantities include all products, materials, and supplies on hand. 4. Liens on the inventories are properly disclosed in notes to the financial statements. 5. 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Green Hrm free essay sample

PROJECT REPORT ON â€Å"GREEN HRM PRACTICES IN DMRC† MBA 2nd Semester Year: 2011 Submitted to Ms. N. Malati as a part of Human Resource Management paper in the Second Semester of MBA Submitted by – Kanika Sehgal Enrollment no. -01012303910 Prerna Sharma Enrollment no. -03712303910 ACKNOWLEDGEMENT It gives us an immense pleasure to present the project titled â€Å"Green HRM practices in DMRC† We would hereby like to express our hearty gratitude to many individuals. Without their co-operation, support and help at every stage the successful completion of the Project would not have been possible. We would like to extend our sincere regards to Mr. Mayank Garg (Junior Engineer), DMRC for his valuable guidance and suggestion that helped us a lot during preparation of the Report. We would like to thank all the respondents who had helped us to bring out the project in a successful manner. We would like to show our greatest appreciation to our faculty guide Ms. N. Malati for her tremendous support and guidance which helped us a lot in completion of the project. Kanika Sehgal Enrollment no. – 01012303910 Prerna Sharma Enrollment no. -03712303910 EXECUTIVE SUMMARY There is a growing need for the integration of environmental management into Human Resource Management (HRM) – Green HRM – research practice. Green initiatives within HRM are increasing as a result of the mounting concern over global warming and the adverse effect of much business activity on the natural environment. They often form a part of wider programmes of corporate social responsibility. This study examines the use of HRM policies of the company to promote the sustainable use of resources and more generally, promote the cause of environmentalism. It examines the type of environmental friendly green initiatives that the company is utilizing involving its workforce and human resource practices. It also analyzes the kinds of actions taken within green HRM initiatives to eliminate those that are environmentally damaging and to advance sustainable business practice. The results confirm that the company is incorporating and working towards integrating a number of green practices. The company has made environmental responsibility a part of its organization’s mission statement and views the promotion of social responsibility as the most critical objective of their green programs. TABLE OF CONTENTS TOPIC PAGE NO. 1. INTRODUCTION 6-7 1. 1 Objective 8 1. 2 Research methodology 9-11 2. COMPANY PROFILE 2. 1 Overview of the company 13-14 3. LITERATURE REVIEW 16-18 4. CONCEPTUAL FRAMEWORK20-22 5. ANALYSIS 5. 1 Demographic Analysis24-25 5. 2 Data Analysis And Inferences 26-30 6. FINDINGS AND SUGGESTIONS 6. 1 Key Findings 32 6. 2 Conclusion 33 6. 3 Suggestions34 6. 4 Limitations 35 7. BIBLIOGRAPHY 37 8. ANNEXURE 8. 1 Questionnaire 39-41 INTRODUCTION INTRODUCTION After a wealth of research into green marketing (Peattie, 1992), accounting Owen, 1992), and management (McDonagh and Prothero, 1997), gaps still exist in the Human Resource Management (HRM) literature on the HR aspects of environmental management Green HRM. The purpose of this project was to examine and draw together the HR aspects of environmental management and map the terrain in this field, and to detail a model of the HR processes involved in Green HRM. Green HRM involves the use of HRM policies to promo te the sustainable use of resources within business organizations and, more generally, promote the cause of environmentalism. The kinds of action taken within green HRM initiatives include educating employees about climate change and other environmental issues, training in working methods that reduce the use of energy and other resources, promoting and incentivizing more sustainable means of travel to work (e. g. car sharing, cycling, public transport), and auditing employee benefits to eliminate those that are environmentally damaging (e. g. unnecessary provision of a high powered company car). Some green HRM initiatives also make use of employee volunteering to support environmental charities and projects and to develop green initiatives at work. Where trade unions are present, green HRM may involve consultation and joint working with union environmental representatives (i. e. union representatives who are trained to promote a green agenda at work) to advance sustainable business practice. Many companies have incorporated environmental management into business operations and have a formal green program in place or plan to implement one in the next 12 months. Many companies currently have the following green programs in place: †¢ Using the internet or teleconferencing to cut down on business travel Putting Summary Plan Descriptions (SPDs) or other company information online to reduce printing †¢ Promoting the reduction of paper usage †¢ Implementing wellness programs around proper nutrition, fitness, and healthy living †¢ Offering opportunities for employees to telework or work from home †¢ Ride/Share programs Green initiatives within HRM are increasing as a result of mounting concern over global warmi ng and the adverse effect of much business activity on the natural environment. Environmental responsibility should be a part of the organization’s mission statement and the promotion of social responsibility should be viewed as the most critical objective of their green programs. The Delhi Metro has won awards for environmentally friendly practices from organisations including the United Nations, RINA, and the International Organization for Standardization, becoming the second metro in the world, after the New York City Subway, to be ISO 14001 certified for environmentally friendly construction. It is also the first railway project in the world to earn carbon credits after being registered with the United Nations under the Clean Development Mechanism, and has so far earned 400,000 carbon credits by saving energy through the use of regenerative braking systems on its trains. The purpose of this research is to analyze what kind of green HRM initiatives are taken up in DMRC and how does it help in environment conservation. The insight and best practices showcased in this report are distilled from lessons learned from interviews with employees. This study would help DMRC in further enhancing its HR practices in line with the growing concern for environmentalism. 1. 1 OBJECTIVES OF THE PROJECT †¢ To examine and draw together the HR aspects of environmental management and map the terrain in this field. †¢ To detail a model of the HR processes involved in Green HRM †¢ To identify the best green HRM practices in DMRC. †¢ To analyze policies and practices of DMRC that may help to eradicate those that are environmentally damaging. †¢ To suggest the strategies and steps for promoting environmentalism. Thus, the objective of this report is to indicate significant works on Green HRM research, integrating environmental management and HRM, and to group them so as to identify gaps, issues, and scope for further research. This study would help DMRC in incorporating environmental management into business operations on a larger pace and will also explore several areas to be considered in the green space. 1. 2 RESEARCH METHODOLOGY Methodology is the key to any kind of research. It helps to maintain a track of what to do and not to do. It has various approaches to it. A good methodology works as a strong plan for collecting both primary and secondary data. There are different ways of adopting good methodology. There are two main ways to collect data, which is, primary and secondary. In fact, both are necessary to provide a balanced study on any kind of research. RESEARCH DESIGN There exist two types of research. These types can broadly be classified as follows: 1. Exploratory and 2. Conclusive ? In this respondents were personally interviewed and in this particular study exploratory research has been used because each and every respondent may have a different attitude and perception. So it was easy to stimulate respondents to reveal more of the entire situation rather than from the study of one or several selected aspects alone. ? It gave a description of a real event or situation and more accurate data was obtained, probably as a result of a longer, more intimate association of the researcher and the respondents. This chapter explains the methods used to carry out the study, giving special emphasis to the treatment and techniques used to analyze the data. ? A literature review using an archival method is adopted as it enables us to structure research and to build a reliable knowledge base in this field (Tranfield et al. 2003). Our analysis process includes classifying the literature in a process model format of HRM (from entry to exit). ? As an initial step in developing this project, the green HRM practices taken up at DMRC were studied thoroughly. ? The second phase involved studying the execution of green HRM practices through various interviews with employee s. ? The purpose of the interviews was to gain an in depth understanding of trends and issues related to the practices. ? After receiving the feedback from the interview process, the data was finalized to review the potential best practice activities and identify the scope for improvement. SOURCES OF INFORMATION The information and data to be collected can be of two types – Primary and Secondary. The primary information is first hand information and is called specifically for the study being conducted. So the researcher himself collects information with relevance to the problem. The secondary information is the second hand information for the researcher. The particular information has been collected by some other researcher for the problem to be solved. This particular project was mainly accomplished with the help of primary data, as it was really helpful to give the realistic picture. The information about various green HRM practices in DMRC was collected by talking to the employees in DMRC. ? For finding out the best green HRM practices questionnaires were administered to people. DATA COLLECTION METHOD There are two methods for collection of data: 1. Questionnaire method 2. Interview method There was a single booklet of questionnaire consisting of 3 pages. The questionnaire was prepared on the basis to assess DMRC on various grounds of green HRM initiatives and policies practiced. Administration of one book let of questionnaire took approximately 5-7 minutes SAMPLING SIZE A sample size of 50 employees was chosen. Most of the respondents were available at the time of visit and they cooperated very well in giving the required information. SAMPLING METHOD In this particular study, Convenience sampling has been used. TECHNIQUE USED FOR DATA ANALYSIS Mean response method is used extensively to evaluate the responses. COMPANY PROFILE 2. OVERVIEW OF THE COMPANY History The concept of a mass rapid transit for Delhi first emerged from a traffic and travel characteristics study which was carried out in the city in 1969. Over the next several years, many official committees by a variety of government departments were commissioned to examine issues related to technology, route alignment and governmental jurisdiction. In 1984, the DELHI DEVELOPMENT AUTHORITY and the Urban Arts Commission came up with a proposal for developing a multi-modal transport system, which would consist of constructing three underground mass rapid transit corridors as well augmenting the citys existing suburban railway and road transport networks. While extensive technical studies and search for financing the project were in progress, the city expanded significantly resulting in a twofold rise in population and a fivefold rise in the number of vehicles between 1981 and 1998 Consequently, traffic congestion and pollution soared, as an increasing number of commuters took to private vehicles with the existing bus system unable to bear the load. An attempt at privatizing the bus transport system in 1992 merely compounded the problem, with inexperienced operators plying poorly maintained, noisy and polluting buses on lengthy routes, resulting in long waiting times, unreliable service, extreme overcrowding, unqualified drivers, speeding and reckless driving. To rectify the situation, the Government of India and the Government of Delhi jointly set up a company called the Delhi Metro Rail Corporation (DMRC) on March 5, 1995 with E. Sreedharan as the managing director. Construction Physical construction work on the Delhi Metro started on October 1, 1998. After the previous problems experienced by the Calcutta Metro, which was badly delayed and 12 times over budget due to political meddling, technical problems and bureaucratic delays, the DMRC was given full powers to hire people, decide on tenders and control funds. The DMRC then consulted the Hong Kong MTR on rapid transit operation and construction techniques. As a result, construction proceeded smoothly, except from one ajor disagreement in 2000, where the Ministry of Railways forced the system to use broad gauge despite the DMRCs preference for standard gauge. The first line of the Delhi Metro was inaugurated by Atal Behari Vajpayee, the then Prime Minister of India on December 24, 2002 and thus it became the second underground rapid transit system in India, after the Kolkata Metro. The first phase of the project was completed in 2006 on budget and almost three years ahead of schedule, an achie vement described by BusinessWeek as nothing short of a miracle. Network The Delhi Metro is being built in phases. Phase I completed 65. 11  km (40. 46 mi) of route length, of which 13. 01  km (8. 08 mi) is underground and 52. 10  km (32. 37 mi) surface or elevated. The inauguration of the Indraprastha–Barakhamba Road corridor of the Blue Line marked the completion of Phase I on October 27, 2006. Phase II of the network comprises 128  km (80 mi) of route length and 79 stations, and is presently under construction, with the first section opened in June 2008 and a target completion date of 2010. Phases III (112  km) and IV (108.   km) are planned to be completed by 2015 and 2021 respectively, with the network spanning 413  km (257 mi) by then Environment and aesthetics The Delhi Metro has won awards for environmentally friendly practices from organisations including the United Nations, RINA, and the International Organization for Standardization, becoming the second metro in the world, after the New York City Subway, to be ISO 14001 cer tified for environmentally friendly construction. Most of the Metro stations on the Blue Line conduct rainwater harvesting as an environmental protection measure. The elevated stations are light efficient and use solar energy in daytime. The metro feeder bus service acts as a means of public transport thereby promoting lesser use of private vehicles. Cleanliness is maintained at the metro stations and trees are planted at the footpath. Eco-friendly means of transport like cycle are provided and promoted at the metro stations like at the vishvavidyalaya metro station. Metro cards and tokens are made of plastic which saves paper which in turn reduces cutting of trees. DMRC is also the first railway project in the world to earn carbon redits after being registered with the United Nations under the Clean Development Mechanism, and has so far earned 400,000 carbon credits by saving energy through the use of regenerative braking systems on its trains. The Metro has been promoted as an integral part of community infrastructure, and community artwork depicting the local way of life has been put on display at stations. Students of local art colleges ha ve also designed decorative murals at Metro stations, while pillars of the viaduct on some elevated sections have been decorated with mosaic murals created by local schoolchildren. The Metro station at INA Colony has a gallery showcasing artwork and handicrafts from across India, while all stations on the Central Secretariat – Qutub Minar section of the Yellow Line have panels installed on the monumental architectural heritage of Delhi. LITERATURE REVIEW 3. LITERATURE REVIEW Recruitment In the United Kingdom (U. K. ) environmental issues have an impact on recruitment, as survey data show that high-achieving graduates judge the environmental performance and reputation of a company as a criterion for decision-making when applying for jobs (Wehrmeyer, 1996: 18-19; Oates, 1996: 127). A survey by the British Carbon Trust shows over 75% of 1,018 employees considering working for a firm see it as important that they have an active policy to reduce carbon emissions (Clarke, 2006: 40), and another by the U. K. Chartered Institute of Personnel and Development (CIPD) reveals that 49% of their respondents take environmental credentials into account when deciding whether to take a job or not, with firms like Boots viewing the ‘green job candidate’ as influencing thinking in this area (Brockett, 2006: 18). Performance Management (PM) and Performance Appraisal (PA) Firms like Amoco in the United States (U. S. have installed corporate-wide environmental performance standards (which cover on-site use, waste management, environmental audits, and the reduction of waste) to measure environmental performance standards, and developing green information systems and audits (to gain useful data on managerial environmental performance), as seen at Union Carbide, who inclu de a green audit programme that contains field audits – which are seen as important, as they can give employees a mechanism by which they can raise any recurring problems, and gain information and feedback on past and future environmental performance of their firm (Milliman and Clair, 1996: 61-63). Several of the existing PA systems in use in the U. S. seem limited to plant and division managers and executives only (for example at EGG and Kodak), with only Browning-Ferris Industries (BFI) developing a sophisticated one for their regional and facility managers (Milliman and Clair, 1996:60). There is also a need to bridge any differences in corporate rhetoric and action, and develop HR systems in PA and reward so that environmental management initiatives are not seen simply as a management ‘fad’ (Milliman and Clair, 1996: 52, 63-64). Overall, the literature suggests that if environmental criteria are integrated into the process of staff appraisal (by writing such responsibilities into all staff action plans), then a learning culture in EM can be encouraged (Rees, 1996: 371). Training and Development Examples of best company practice in training and development in EM in the U. S. comes from Allied Signal Inc. , who include a Total Waste Minimization (TWM) component into their training, whilst Nordstrom use education initiatives in general waste minimization (May and Flannery, 1995: 30, 34-35). Training seems to be one area where the role of HRM in environmental management has been recognised for some time (as job rotation provides a useful way to train Green executives or future Board members in EM, and is seen as a crucial part of successful environmental programmes (Wehrmeyer, 1996: 15). For example, many firms in the U. S. have begun training initiatives like the one at Polaroid, where training objectives are linked to their vision regarding regulatory compliance (Milliman and Clair, 1996: 53). Training Needs Analysis (TNA) Company practices in the U. S. include using specialists to design such TNA (as seen at Duke Power), and another is to survey employees regarding their levels (Milliman and Clair, 1996: 53). The corporate environmental training committee at Duke Power oversees and investigates their environmental training needs (signalling to managers that EM is important, and has resources dedicated to it), and Rothenberg (2003: 1794-1795) has found that most environmental projects at NUMMI (the joint venture between General Motors and Toyota in California) combine more than one category of knowledge. Development In the chemical industry in Europe, where DuPont look for engineers with technical skills plus a specialist environmental formation (and not vice-versa) and also value communication skills too, whilst at Usinor Sacilor they expect environmental organisers to be co-ordinators, working in cross-disciplinary teams. Employment Relations In the U. S. , companies like Tennant Company have used EI to develop new dry-abrasive systems for stripping and recoating concrete industrial floors, replacing previous a process which exposed workers to hazardous solvents and fumes (May and Flanne ry, 1995: 31-33). Grievance and Discipline The need to raise grievances is seen in high risk operations (for their safety record), and it is logical that in such cases disciplinary procedures are attached to environmental rules and duties where noncompliance occurs (Wehrmeyer, 1996: 16-17). Indeed, expert legal opinion is that some firms may eventually move to ensure that environmental obligations are secured by including clauses in staff contracts to do so, i. e. that environmentally unfriendly behaviour may constitute a breach of contract and therefore possible grounds for dismissal (Brockett, 2006: 18). The Union Role In the United States, Rothenberg notes that firm practice at NUMMI has seen unions acting as allies to environmental managers, as union communications to workers have generated self-directed environmental initiatives from workers (Rothenberg, 2003: 1789). Jobs and Employment In the U. K. links between EM, sustainability, jobs, skills, and growth are long established (ECOTEC, 1990, 1993), but national unions i n Britain have been caught in the contradictory position of looking to support workers on opposite sides of conflicts regarding environmental protection and job preservation. Pay and Reward Pay and Reward Systems In the U. S. , DuPont has an Environmental Respect Awards program which recognizes employee environmental achievements, and both Nordstrom and 3M offer rewards for suggestions that individual staff make to help the environment and increase firm profitability (May and Flannery, 1995: 35-36). Performance-Related Pay (PRP) Company practice in the U. S. , Europe and Britain has examined the Greening of Performance-Related Pay (PRP). In the United States, companies such as Du Pont base their executive compensation and bonus system for middle managers and senior officers in part on environmental stewardship practices, where bonuses can be over 10 per cent if they develop an environmentally benign pesticide for agriculture or a non-polluting product (May and Flannery, 1995: 30; Snyder, 1992). Recognition and Awards Recognition-based rewards exist for managers in U. S. companies such as Monsanto, Dow Chemical, and ICI Americas Inc. (Milliman and Clair, 1996: 65). Other recognition-based rewards in the U. S. and U. K. include senior managers at Coors presenting awards in public meetings, and via news articles at Duke Power. Exit In terms of staff exits, where dismissal occurs, it may be that any ‘general debriefing should include an environmental dimension, and if staff resign, then HR managers need to discover why’ (Wehrmeyer, 1996: 15), or that whistle-blowing green employees (who highlight bad practices), are seen as at risk, as there is no legal protection for them, meaning that they could be dismissed for breach of confidentiality (Oates, 1996: 136). CONCEPTUAL FRAMEWORK 4. CONCEPTUAL FRAMEWORK Green HRM is the use of HRM policies to promote the sustainable use of resources within business organizations and, more generally, promote the cause of environmentalism. The kinds of action taken within green HRM initiatives include educating employees about climate change and other environmental issues, training in working methods that reduce the use of energy and other resources, promoting and incentivizing more sustainable means of travel to work (e. g. car sharing, cycling, public transport), and auditing employee benefits to eliminate those that are environmentally damaging (e. g. unnecessary provision of a high powered company car). Some green HRM initiatives also make use of employee volunteering to support environmental charities and projects and to develop green initiatives at work. Where trade unions are present, green HRM may involve consultation and joint working with union environmental representatives (i. e. union representatives who are trained to promote a green agenda at work) to advance sustainable business practice. Green HRM can be applied to the following HR processes in turn, namely of: recruitment; performance management and appraisal; training and development; employment relations; pay and reward and exit. Recruitment General job descriptions can be used to specify a number of environmental aspects. These include environmental reporting roles and health and safety tasks, which staff are exposed to harmful substances/potential emissions (and their extent), and matching personal attributes to needed environmental competencies, i. e. buying-in specialist competencies via new hires or investing in training. Induction for new recruits is seen to be needed to ensure they understand and approach their corporate environmental culture in a serious way. Performance Management (PM) and Performance Appraisal (PA) Using Performance Management (PM) in Environmental Management (EM) presents the challenges of how to measure environmental performance standards across different units of the firm, and gaining useful data on the environmental performance of managers. Performance Appraisal (PA) can cover such topics as environmental incidents, usage of environmental responsibilities, and the communication of environmental concerns and policy (Wehrmeyer, 1996: 15). Issues involved in environmental PA’s concern the need for managers to be held accountable, so that they familiarise themselves with compliance issues. Training and Development Training is seen in the literature as a key intervention to manage waste (in terms of both prevention and reduction), and occurs through organisations training teams of front-line employees to produce a waste analysis of their work areas. Such employees are seen as ideal staff to spot and reduce waste as they are closest to it, but they must be knowledgeable on how to collect the relevant data. A number of steps may be used to establish an environmental training system, such as an audit of existing training system resources and activities, forming a corporate environmental committee (with HR representatives, environmental professionals and other executives on it), a job analysis producing a job description, and environmental awareness as part of induction training (as done at the Body Shop in the U. K. , or to use a performance management system to monitor and review performance on productivity, quality, wastage and accidents. Training Needs Analysis (TNA) To assess the training requ ired in environmental management, a Training Needs Analysis (TNA) is a useful first step in terms of assessing what environmental knowledge and skills staff need. Development There is a need to change education and training programmes in EM to broaden environmental specialists into managers (i. e. generalists), meaning that the competencies that environmental executives require are similar to other business leaders. Employment Relations Employee Involvement (EI) and Participation (EP) A number of rationales for using Employee Involvement (EI) teams in EM include the ideas that they can cut waste (as employees are seen to have the most knowledge of the work processes and products involved); can manage such complex work well; and that using them helps build employee pride and commitment in their work. Using EI in the EM domain is not only seen as changing how work processes are performed, but also in terms of improving worker health and safety too. Grievance and Discipline The need to raise grievances is seen in high risk operations (for their safety record), and it is logical that in such cases disciplinary procedures are attached to environmental rules and duties where noncompliance occurs. Indeed, expert legal opinion is that some firms may eventually move to ensure that environmental obligations are secured by including clauses in staff contracts to do so, i. e. that environmentally unfriendly behaviour may constitute a breach of contract and therefore possible grounds for dismissal. The Union Role Unions act as allies to environmental managers, as union communications to workers have generated self-directed environmental initiatives from workers. Firm practice also has encourages trade union members to be involved in all environmental work programmes, producing financial benefits across the company in terms of reducing glass defects, waste glass and energy. Jobs and Employment More complex recycling and waste management strategies are seen to create more skilled employment than landfill alone, and in addition, regulations on electrical goods manufacturers to collect, re-use or recycle their products are seen to expand local authority recycling, and create more employment opportunities there as a result. Pay and Reward Pay and Reward Systems Work organisations are ideally seen to benefit from establishing a reward system for waste reduction practices that teams develop. Organisations may wish to engage in giving employees positive rewards in terms of verbal feedback from supervisors, as such informal verbal and written feedback which might help motivate employees towards environmental improvements. Performance-Related Pay (PRP) Monetary-based environmental reward systems have been developed, where for example, an important proportion of monthly managerial bonuses are dependent upon performance outcomes in EM. Recognition and Awards This includes paying employees for performing community service and giving them opportunities to attend green events and rallies. There are many ways in which incentives can be provided in an environmentally friendly way. For example, car mileage for company cars can be extended to bicycle journeys and loans, staff can be offered financial substitutes for car allowances, car pooling/sharing provisions can be encouraged, and company cars can be limited to journeys beyond public transport only. Organisations can also place financial incentives into their reward strategies, as tax incentives and exemptions promote loaning bicycles and safety equipment to employees, and a less polluting car fleet too. Exit In terms of staff exits, where dismissal occurs, it may be that any ‘general debriefing should include an environmental dimension, and if staff resign, then HR managers need to discover why’ or that whistle-blowing green employees (who highlight bad practices), are seen as at risk, as there is no legal protection for them, meaning that they could be dismissed for breach of confidentiality. ANALYSIS 5. 1 DEMOGRAPHIC ANALYSIS The demographic analysis of the sample of employees taken in the research is as follows : AGE – [pic] GENDER – [pic] EDUCATION LEVEL – [pic] ANNUAL INCOME [pic] 5. 2 DATA ANALYSIS AND INFERENCES 1) Your organization supports green HRM. |1 = Strongly |2 = Disagree |3 = Neither Agree Nor|4 = Agree |5 = Strongly Agree | | | |Disagree | |Disagree | | | | Mean score = 4. 12 Inference : Green HRM practices are carried out in DMRC. 2) Do you think green HRM is important for an organization. | |1 = Strongly |2 = Disagree |3 = Neither Agr ee Nor|4 = Agree |5 = Strongly Agree | | | |Disagree | |Disagree | | | | Mean score = 4. 22 Inference : A large no. of employees support that green HRM is important for an organization. 3) Your organization promotes sustainable use of resources. | |1 = Strongly |2 = Disagree |3 = Neither Agree Nor|4 = Agree |5 = Strongly Agree | | | |Disagree | |Disagree | | | | Mean score = 4. 3 Inference : Sustainable use of resources is promoted by DMRC to a large extent. 4) Do you think green HRM is a wider programme of corporate social responsibility. |1 = Strongly |2 = Disagree |3 = Neither Agree Nor|4 = Agree |5 = Strongly Agree | | | |Disagree | |Disagree | | | | Mean score = 3. 76 Inference : Only some employees believe that green HRM is a wider programme of corporate social responsibility. 5) Your organization educates employees about climate change and other environmental issues. | |1 = Strongly |2 = Disagree |3 = Neither Agree Nor|4 = Agree |5 = Strongly Agree | | | |Disagree | |Disagree | | | | Mean score = 3. 94 Inference : Employees in DMRC are educated about climate change and other environmental issues to some extent. 6) The working methods employed in your organization are not environmentally damaging. | |1 = Strongly |2 = Disagree |3 = Neither Agree Nor|4 = Agree |5 = Strongly Agree | | | |Disagree | |Disagree | | | | Mean score = 4. 58 Inference : The working methods employed in DMRC are not environmentally damaging. 7) Your organization promotes car sharing as a sustainable means of travel to work. |1 = Strongly |2 = Disagree |3 = Neither Agree Nor|4 = Agree |5 = Strongly Agree | | | |Disagree | |Disagree | | | | Mean score = 4. 36 Inference : Car sharing is promoted as a sustainable means of travel to work in DMRC to a large extent. 8) You would prefer car sharing or public transport to support green HRM. | |1 = Strongly |2 = Disagree |3 = Neither Agree Nor|4 = Agree |5 = Strongly Agree | | | |Disagree | |Disagree | | | | Mean score = 4. 66 Inference : A large no. f employees in DMRC are concerned about the environment and would prefer car sharing or public transport to support green HRM. 9) Recyclable paper is used in your organization. | |1 = Strongly |2 = Disagree |3 = Neither Agree Nor|4 = Agree |5 = Strongly Agree | | | |Disagree | |Disagree | | | | Mean score = 4. 50 Inference : One of the green HRM practices in DMRC is the use of recyclable paper to a large extent. 10) Computer systems are switched off when not in use. |1 = Strongly |2 = Disagree |3 = Neither Agree Nor|4 = Agree |5 = Strongly Agree | | | |Disagree | |Disagree | | | | Mean score = 4. 06 Inference : Computer systems are often switched off when not in use. 11) Your organization audits employee benefits to eliminate those that are environmentally damaging. | |1 = Strongly |2 = Disagree |3 = Neither Agree Nor|4 = Agree |5 = Strongly Agree | | | |Disagree | |Disagree | | | | Mean score = 3. 48 Inference : The employee benefits are rarely audited to eliminate those that are environmentally damaging. 12) Environmental charities and projects are taken up to develop green initiatives at work. | |1 = Strongly |2 = Disagree |3 = Neither Agree Nor|4 = Agree |5 = Strongly Agree | | | |Disagree | |Disagree | | | | Mean score = 3. 98 Inference : Environmental charities and projects are taken up at DMRC to develop green initiatives at work. 13) Your superiors are trained to promote a green agenda at work. |1 = Strongly |2 = Disagree |3 = Neither Agree Nor|4 = Agree |5 = Strongly Agree | | | |Disagree | |Disagree | | | | Mean score = 3. 76 Inference : Superiors at DMRC are trained to an extent to promote a green agenda at work. 14) Your superiors jointly work to advance sustainable business practice. | |1 = Strongly |2 = Disagree |3 = Neither Agree Nor|4 = Agree |5 = Strongly Agree | | | |Disagree | |Disagree | | | | Mean score = 3. 56 Inference : Only some employees support that supe riors work jointly to advance sustainable business practice. FINDINGS AND SUGGESTIONS 6. 1 KEY FINDINGS THE SUCCESSFUL COMPLETION OF THE STUDY PROJECTS THE FOLLOWING FINDINGS:- 1. DMRC supports green HRM and its activities promote the cause of environmentalism. 2. The green HRM practices in DMRC include – †¢ Educating employees about climate change and other environmental issues. †¢ Promoting sustainable use of resources. †¢ Employing working methods which are not environmentally damaging. †¢ Promoting car sharing as a sustainable means of travel to work. †¢ Use of recyclable paper. †¢ Switching off computer systems when not in use. †¢ Auditing employee benefits to eliminate those that are environmentally damaging. Environmental charities and projects taken up to develop green initiatives at work. †¢ Training of superiors to promote a green agenda at work. 3. As an individual, many employees would prefer car sharing or public transport to support green HRM. 4. The employees at DMRC take up green i nitiatives at work thereby helping in environment conservation. 2. CONCLUSION There is a mounting concern over global warming and the adverse effect of much business activity on the natural environment. Thus, green initiatives need to be taken at work so as to minimize the environmental damage. The Delhi Metro Rail Corporation (DMRC) has been incorporating and working towards integrating a number of green practices. Environmental responsibility is a part of the organization’s mission statement and it views the promotion of social responsibility as the most critical objective of the green programs. It has incorporated environmental management into business operations and uses its HRM policies to promote the sustainable use of resources. After a thorough study of â€Å"Green HRM†, I learned that it is crucial for an organization. DMRC has been carrying out environmental friendly practices and so sets an example for the other organizations and inspires them to promote the cause of environmentalism. 6. 3 SUGGESTIONS †¢ The organization should bring in more awareness among the employees regarding climate change and other environmental issues thereby highlighting the need for environment conservation. It should take feedback from the employees to analyze how far green HRM is being taken care of and to bring in more suggestions for further inducing green initiatives at work. †¢ It should motivate the employees to promote a green agenda at work by providing monetary or non-monetary incentives like reward systems for waste reduction practices developed by teams. †¢ Training should be provided to employees so that they can take up more and more green initiatives at work. An environmental training system should be established and environmental awareness should be made a part of induction training. †¢ The employee benefits that are environmentally damaging should be withdrawn, like unnecessary provision of a high powered company car. DMRC could employ these practices as well in order to promote green HRM. 4. LIMITATIONS In every research there are certain limitations, and this research is not an exception, so in whole process of research the situation in which the research conducted can affect the research to a small extent. The research conducted come across certain restrictions and limitations, so some of these limitations can be overlooked for the successful conduction of research. Some of the limitations that can be over looked are:- A. The findings of the study are subjected to bias and prejudice of the respondents. B. The findings of the study are solely based on the information provided by the respondents. C. Findings of the research may change due to area, demography, age condition of economy etc. D. It can’t be assured that data has high degree of precision and accuracy. E. Sometimes some people can give wrong or incomplete information so that to find out actual result we cannot fully believe on the questionnaire. BIBLIOGRAPHY BIBLIOGRAPHY Books †¢ Venkata Ratnam, C. S. and Srivastava, B. K. Personnel Management Human Resource. Tata Mcgraw-Hill publishing company Ltd, 2005. †¢ Burack, Elmer H and Smith, Robert D. Personnel Management: a Human Resource System Approach. John Wiley Sons Inc †¢ Aswathappa, Human Resource Management †¢ Rao, V. S. P. Human Resource Management. †¢ C,B Gupta , Human Resource Management. Weblinks †¢ green HRM corporate social responsibility, benefits, company car, volunteering, consultation †¢ http://www. shef. ac. uk/content/1/c6/08/70/89/2008-01. pdf Green HRM: A review, process model, and research agenda Discussion Paper No 2008. 01 April 2008 †¢ http://blogs. whattheythink. com/going-green/media//2009/02/greening-of-hr. pdf †¢ www. google. co. in †¢ www. yahoo. com †¢ www. delhimetrorail. com ANNEXURE QUESTIONNAIRE ON GREEN HRM. * Required [pic] Name [pic] Age * †¢ [pic]Less than 24 †¢ [pic]24-30 †¢ [pic]31-35 †¢ [pic]36-40 †¢ [pic]More than 40 Gender * †¢ [pic]Male †¢ [pic]Female Education level * †¢ [pic]Secondary †¢ [pic]Senior Secondary †¢ [pic]Bachelors degree †¢ [pic]Masters degree †¢ [pic]Others Annual income . †¢ [pic]Less than 2 lakhs †¢ [pic]2-3 lakhs †¢ [pic]3-5 lakhs †¢ [pic]5-7 lakhs †¢ [pic]More than 7 lakhs Are you aware of Green HRM . * Yes / No |1 = Strongly |2 = Disagree |3 = Neither Agree Nor|4 = Agree |5 = Strongly Agree | | | |Disagree | |Disagree | | | | 1) Your organization supports green HRM. * | |1 |2 |3 |4 |5 | | |Strongly Disagree |[pic] |[pic] |[pic] | [pic] |[pic] |Strongly Agree | 2) Do you think green HRM is important for an organization. * | |1 |2 |3 |4 |5 | | |Strongly Disagree |[pic] |[pic] |[pic] |[pic] |[pic] |Strongly Agree | 3) Your organization promotes sustainable use of resources. | |1 |2 |3 |4 |5 | | |Strongly Disagree |[pic] |[pic] |[pic] |[pic] |[pic] |Strongly Agree | 4)Do you think green HRM is a wider programme of corporate social responsibility. * | |1 |2 |3 |4 |5 | | |Strongly Disagree |[pic] |[pic] |[pic] |[pic] |[pic] |Strongly Agree | 5) Your organization educates employees about climate change and other environmental issues. * | |1 |2 |3 |4 |5 | | |Strongly Disagree |[pic] |[pic] |[pic] |[pic] |[pic] |Strongly Agree | 6) The working methods employed in your organization are not environmentally damaging. | |1 |2 |3 |4 |5 | | |Strongly Disagree |[pic] |[pic] |[pic] |[pic] |[pic] |Strongly Agree | 7) Your organization promotes car sharing as a sustainable means of travel to work. * | |1 |2 |3 |4 |5 | | |Stron gly Disagree |[pic] |[pic] |[pic] |[pic] |[pic] |Strongly Agree | 8) You would prefer car sharing or public transport to support green HRM. * | |1 |2 |3 |4 |5 | | |Strongly Disagree |[pic] |[pic] |[pic] |[pic] |[pic] |Strongly Agree | 9) Recyclable paper is used in your organization. * |1 |2 |3 |4 |5 | | |Strongly Disagree |[pic] |[pic] |[pic] |[pic] |[pic] |Strongly Agree | 10) Computer systems are switched off when not in use. * | |1 |2 |3 |4 |5 | | |Strongly Disagree |[pic] |[pic] |[pic] |[pic] |[pic] |Strongly Agree | 11) Your organization audits employee benefits to eliminate those that are environmentally damaging* | |1 |2 |3 |4 |5 | | |Strongly Disagree |[pic] |[pic] |[pic] |[pic] |[pic] |Strongly Agree | 12) Environmental charities and projects are taken up to develop green initiatives at work. | |1 |2 |3 |4 |5 | | |Strongly Disagree |[pic] |[pic] |[pic] |[pic] |[pic] |Strongly Agree | 13) Your superiors are trained to promote a green agenda at work. * | |1 |2 |3 |4 |5 | | | Strongly Disagree |[pic] |[pic] |[pic] |[pic] |[pic] |Strongly Agree | 14) Your superiors jointly work to advance sustainable business practice. * | |1 |2 |3 |4 |5 | | |Strongly Disagree |[pic] |[pic] |[pic] |[pic] |[pic] |Strongly Agree | [pic]

Budget Assignment

Question: A consulting firm produces a service that requires the use of labor and materials. Each unit of service requires a standard labor time of 30 minutes (0.5 hours). The average pay rate for a labor hour is 20. The consulting firm considers all materials that are required for the service as variable overheads (OH), the cost of which is directly associated with the labor hours worked. It has been estimated that variable OH rate is 10 per service hour. The budgeted and actual costs, revenue and units for the month November are given in the table below: Original Budget Actual Units of Service 1,500 1,600 Sales Revenue 120,000 124,400 Labor hours 750 860 Labor cost 15,000 20,210 Variable OH costs 7,500 8,170 Fixed Cost 68,000 68,000 Total Cost 90,500 96,380 Operating Profit 29,500 28,020 1. Calculate the flexed budget and the key variances between budgeted and actual results. 2. Reconcile the original budget and present the relationship between the budgeted and the actual profit for the month November 3. Discuss the calculated variances, and provide suggestions for better cost management. Answers: 1. Flexible Budget:- Particulars Budgeted data for 1,500 units(I) Flexible budget for 1,600 units(II) Actual data for 1,600 units(III) Sales revenue(Note 1) 120,000 128,000 124,400 Units 1,500 1,600 1,600 Selling price per unit(Note 2) 80 80 77.75 Labour hours 750 800 860 Labour hours per unit(Note 3) 0.5 0.5 0.5375 Labour cost(Note 4) 15,000 16,000 20,210 Labour cost per hour(Note 5) 20 20 23.5 Variable overhead cost(Note 6) 7,500 8,000 8,170 Variable rate per hour(Note 7) 10 10 9.5 Fixed cost 68,000 68,000 68,000 Profit(Note 8) 29,500 36,000 28,020 Note: 1-Sales revenue For (I)-1,500*80 For (II)-1,600*80 For (III)-1,600*77.75 Note: 2-Selling price per unit For (I)-120,000/1,500 For (II)-128,000/1,600 For (III)-124,400/1,600 Note: 3-Labour hours per unit For (I)-750/1,500 For (III)-800/1,600 For (III)-860/1,600 Note: 4-Labour cost For (I)-750*20 For (II)-800*20 For (III)-860*23.5 Note: 5-Labour cost per hour For (I)-15,000/750 For (II)-16,000/800 For (III)-20,210/860 Note: 6-Variable overhead cost For (I)-750*10 For (II)-800*10 For (III)-860*9.5 Note: 7-Variable rate per hour For (I)-7,500/750 For (II)-8,000/800 For (III)-8,170/860 Note: 8-Profit For (I)-120,000-15,000-7,500-68,000=29,500 For (II)-128,000-16,000-8,000-68,000=36,000 For (III)-124,400-20,210-8,170-68,000=28,020 Key variances between budgeted and actual:- Sales price variance-128,000-124,400=3,600(adverse) Direct labour total variance-16,000-20,210=4,210(adverse) Variable overhead total variance-8,000-8,170=170(adverse) 2. According to the flexible budget, the profit for 1,600 units should have been 36,000. But in actual, the profit is 28,020. The difference has arisen because of variances in sales revenue as well as labour cost as well as variable cost. The difference in budgeted profit can be calculated as under: There is difference in profit is of 7,980. There is as shortfall in profit. The shortfall is caused because of adverse variances. All the three variances calculated are adverse. Due to which the profit is adverse. The calculation is shown below: 7,980=3,600+4,210+170. 3. The variances calculated are sales price variance, direct labour total variance and variable overhead total variance. All the three variances are adverse. Variable expenses and labour expenses are incurred in excess of what should have been actually incurred. The selling price is less compared to the budgeted selling price. Units are same. Therefore, the sales price variance is adverse. Now to achieve the targeted sales revenue, company should try to sell units in an area which can provide the targeted selling price per unit. To increase the selling price is a tough decision to make as it can affect the sales units. Therefore, improving sales value variance is a difficult task. Another two adverse variances are direct labour total variance and variable overhead total variance. The cost incurred is more than what should have been actually spent as per budgeted data for standard production. Labour cost per hour is 20 while actual labour cost per hour 23.5. To make the variance positive, the labourers should be given incentives and motivation to produce more units in one hour so that per unit labour cost can be decreased. The most relevant variance to the business is variable overhead cost variance. Because, it depends upon the variable cost incurred by the company. Variable expenses incurred can be reduced to some extent by the organisation. Labour and sales variance cant be controlled as compared to variable overhead. Variable overhead can be controlled by the company. Company should analyse day to day expenses carefully so that it can cut off expenses somewhere. Maintenance expenses, supplies, material expenses should be controlled to cut off variable expenses. References:- ANON, N.D., variance analysis, Accessed on 4th February 2015, https://accounting-simplified.com/management/variance-analysis/ANON, N.D., variance analysis, Accessed on 4th February 2015, https://classes.bus.oregonstate.edu/spring-07/ba422/Management%20Accounting%20Chapter%205.htm