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Don’t Enter the Dragon Essay (Article)

Table of Contents Introduction

Fuqi and Rhino International

Chinese Firms

Auditing Mistake

Conclusion

Work Cited

Introduction The state visit and the pompous reception of China’s president Hu Jintao to the US served to show how important the economies of these two countries are to each other.

China has the capacity to produce and American has a ready market for its products and also enough money to invest in the Chinese economy. Many American investors in a move to have a share of China’s boom have put a lot of money in China’s business both big and small.

In fact, many of these businesses are now trading on the US stock exchanges. The problem though is that some of these businesses seem to specialize in unacceptable business practice and end up ripping off investors. This practice was noted in two of the hottest Chinese stocks of 2009, Fuqi and Rhino international (Surowecki 1).

Fuqi and Rhino International Fuqi and Rhino international were at one point number one and two on the top 100 list of the Investors Business Daily. An announcement made in 2010 by Fuqi claimed that the profits of the company had been overstated for a good part of the year 2009.

Ten months afterwards the company has not presented any earning statement and therefore, it is not known whether it is making a profit or a loss. Rhino, on the other hand, has received criticism that its accounting is fraudulent and that the entire company is just a sham.

It emerged that these allegations were indeed true when the company admitted that two of its manufacturing contracts never existed. This also meant that its financial statement was not reliable. The company lost its listing in NASDAQ after failing to be transparent in its financial details. So far its stock has dropped by 90% from its all-time high (Surowecki 1).

Chinese Firms Chinese firms have earned a bad reputation in regard to openness of their financial details. This has forced S.E.C to carry out investigations in these stocks. It has emerged that many of these companies have two sets of revenue numbers, one is reported to S.E.C and the other is reported to Chinese authorities.

Get your 100% original paper on any topic done in as little as 3 hours Learn More Another problem that has been noted is tunneling, which is, using outside business to swindle the company. Some executives treat companies as personal bank accounts where they just withdraw money as they wish (Surowecki 1).

Auditing Mistake The regulatory system used failed to protect the interest of investors because Chinese firms have exploited it to their advantage. They manage to do this by using the reverse merger tactic whereby they buy American companies with a stock listing but few actual assets. They then change the company name to enable the company trade on NASDAQ or Amex.

Through the merge tactic the company becomes part of the listed companies without any restriction or scrutiny. After establishing their base on a stock exchange it becomes hard to be kicked off. For instance, Fuqi has not filled statements for sometime, but it has been given a chance until March. Auditing the company is also hard because some of the auditors are Chinese who only protect their own interests (Surowecki 1).

Conclusion The bad publicity has done little to warn investors. Reverse mergers are increasing every year because China offers many people the hope of getting rich quickly.

Just like what happened in the US in the 19th century during the construction of the Railroads. The business was demoralizing, but because it offered prospects of enormous wealth, many people ventured into it. History is repeating itself; there may be fraudsters and swindlers targeting investors.

Work Cited Surowecki, James. Don’t Enter the Dragon. New Yorker, 2011. Web. https://www.newyorker.com/magazine/2011/01/31/dont-enter-the-dragon

Business Communication Trends Essay

Nursing Assignment Help Communication is a prerequisite for organizational success. If communication in an organization has mistakes, the organization could suffer substantial losses due to wastage of valuable resources such as time, goodwill, employee efforts etcetera.

Business communication is among the most dynamic forms of communication due to the mere fact that businesses are aimed at profit maximization, and any change towards more effective communication would make a business achieve this goal.

In the contemporary society, businesses are changing their forms of communication to keep in pace with changes in technology. I have personally experienced and witnessed most of the contemporary trends in business communication in my workplace.

Communication is particularly crucial in the day-to-day running of a business. The need for effective communication in the day-to-day running of a business is due to the fact that a business may have a number of workers and clients who will need specific information at certain times in order for them to play their roles in the business.

In order to work on something during the day-to-day running of a business, stakeholders need to be involved in decision making and action taking. This need will necessitate that these people be informed of a meeting in advance so that they plan for the meeting.

The stakeholders will, in most cases, be separated by space and thus the achievement of effective communication will prove to be difficult without the use of reliable communication tools. Thus effective and reliable tools such as email or text messaging to convene the meeting will be necessary.

Some tools of communication are also critical in the running of the day-to-day activities of an organization because they provide evidence of transactions (Bates, 2010, p. 1). For instance, correspondences between an organization and a customer could be used as an evidence of a transaction in case a misunderstanding arises.

Get your 100% original paper on any topic done in as little as 3 hours Learn More Communication is also important in the day-to-day running of a business because it ensures that employees’ efforts are properly coordinated. This results in effectiveness of the operations of the business because there will be no cases of duplications and repetitions.

In the recent past, people in businesses used to communicate via letters sent by post. Communication within the business or organization was mainly done by the use of paper memos. Minutes of meetings used to be documented in paper form and delivered by hand or mail to the person they concern. Nowadays, communication has been completely changed by the use of technology.

E-mails have substituted virtually all the former forms of communication such as letters, memos and minutes. Emails are now, increasingly, used in businesses and organizations to send letters,

memos and they are even to send minutes of meetings in which a soft copy of the minutes is emailed as an attachment to respective recipients (Hunt, 2010, p. 1). Also among the main changes to business communication is teleconferencing in which people hold a meeting by the use of their phones while in remote locations.

Also similar is the use of videoconferencing for holding meetings in which the members can see each other in a video device. Businesses and professionals are also using social networking sites in carrying out their day-to-day activities. This is achieved by the sending of private messages on the social networking sites such as Facebook, Twitter and MySpace.

This is common with media houses that are increasingly using the social networks to reach their clients. Professionals and business people are also making use of blogs on the internet to look for customers and consultants (Ober, 2009, p. 37). The blogs also give their visitors a chance to post comments and messages to a given business, organization, or individual.

Although the contemporary change in the trends in communication has resulted in more effective communication, they also have their shortfalls. For instance, not everyone is technology-savvy, and thus an assumption by a sender of a message that the receiver is familiar with technology may have undesirable effects. Additionally, the tools of teleconferencing and video conferencing require effective planning for them to be successful.

We will write a custom Essay on Business Communication Trends specifically for you! Get your first paper with 15% OFF Learn More The contemporary trends in business communication have seen the use of a variety of technology tools in day-to-day communication. There a numerous messages that have come as a result of the use of these technology tools. Some of these messages are stated in the discussion above and they include email messages, text messages and even private messages sent on social networking sites.

As evidenced from the discussion above, communication is a an important part of any business. Without communication, most businesses will, perhaps, be brought to a halt. The business community has thus been exploring ways in which to effectively communicate during their day-to-day activities.

From the discussion, the business community owes the contemporary effectiveness in communication to technology. This is because most of the changes that have taken place in communication over the years have been enabled by the presence of technology tools.

The tools include the aforementioned messages such as emails, text messages, and facilities such as teleconferencing, video conferencing, and the like. Business people who have not yet embraced the change in business communication should therefore ensure that they research on how they can use technology tools to make their communication effective.

Reference List Bates, S. (2010). Workplace Communication Trends for 2010. Web.

Hunt, J. (2010). Current Trends in Business Communication. Web.

Ober, S. (2009). Contemporary Business Communication (7th Ed). New York. Wadsworth Publishing.

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