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Mind Your Own Business: Economics at Work

Mind Your Own Business: Economics at Work


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About the Book

Written to provide Irish union members with some of the knowledge and skills they need to participate in business and the economy at national, international and local level. The book discusses the economy as it relates to working people, discussing the Celtic Tiger, the global economy, origin of profits and the role of the state. It also covers accounting and strategy, looking at the management strategies used in the pursuit of profit.

Table of Contents:
contents Foreword by Des Geraghty ix About the Authors xi Acknowledgements xv How to Use this Book xvii SECTION ONE ECONOMICS: LEARNING THE BASICS OF THE GAME 1 Chapter 1: Ireland: The Lady or the Tiger? 3 The Roaring Tiger 4 The Experts Ride the Tiger 5 It's Jungle Out There: Ireland and the Global Economy 10 Chapter 2: Profits and Where They Come From 13 The Bottom Line 14 A Theory of Profits 16 Profits in Depth: Dividing up the Surplus Product 18 How do Corporations Pursue Profits? 19 The Ways to Increase Profits 21 Areas of Conflict and Areas of Participation 22 Multinational Corporations and the Issue of Competitiveness 23 Who Gains and Who Loses? 24 Multinationalisation: Pros and Cons 25 Unemployment and the Role of Unions 27 Debate 28 Chapter 3: The Role of the State 31 The State and Private Property 32 Taxation 33 Government Spending 35 Direct Involvement in Industrial Relations 36 SECTION TWO ACCOUNTING: KEEPING SCORE AND MEASURING PERFORMANCE 43 Chapter 4: Stakeholding: Who Has a Stake and Who Holds the Knowledge? 45 The Users of Accounting Information 46 The Focus on Shareholders 49 Access to Financial Information 50 Chapter 5: How the Accounts Measure Profit 55 Introduction 55 Measuring Profit 56 Measuring Revenue: the Accruals Concept 56 Measuring Costs 57 The Format of the Profit and Loss Account 61 Some Shortcomings of the Profit and Loss Account 72 Chapter 6: Reporting the Financial Position 75 The Balance Sheet 75 Assets 77 Liabilities 79 Shareholders' Funds 81 Why the Accounts Balance 85 Sub-headings Explained 85 Group Accounts 94 Chapter 7: Analysing the Information in Financial Statements 97 Assessing Performance 97 Assessing Financial Position 103 Conclusion 108 Chapter 8: Additional Information in Annual Reports 109 Cash Flow Statements 110 Statement of Total Recognised Gains and Losses 115 Notes on Accounting Policies 115 Notes to the Financial Statements 116 Value Added Statement 120 Five- and Ten-year Summaries 122 Operating and Financial Review 122 Directors' Report 123 Chairperson's Statement 123 Chapter 9: What Management Wants To Know 125 Management Accounting 125 The Budget 125 Broadening the Budget Approach 129 Budgets: A Magic Formula? 132 Chapter 10: Environmental Reporting and Social Accounting 135 Environmental Reporting 135 Social Accounting 137 SECTION THREE BUSINESS STUDIES: STRATEGIC PLAY 141 Chapter 11: A Fair Day's Pay? 145 High Road and Low Road Strategies 145 New Forms of Compensation 149 Gainsharing 149 PEPPER Schemes 162 Profit Sharing Schemes 162 Employee Share Ownership Plan 165 Share Option Scheme 168 Save As You Earn (SAYE) 169 Approved Profit Sharing Schemes 170 Skill-Based Pay 171 Pensions and Other Benefits 174 Chapter 12: A Fair Day's Work? 177 Supervision and Surveillance 177 Taylorism, or Scientific Management 180 Kaizen 183 Flexibility/Security 188 The Workweek 192 Safety 194 Chapter 13: Working Smarter? 199 New Technologies 199 New Forms of Work Organisation 202 Just-in-Time (JIT) 203 Total Preventive Maintenance (TPM) 208 Teams 209 Chapter 14: Pursuing Quality 213 Total Quality Management 214 Chapter 15: Innovation 219 The Learning Organisation 219 Research and Development (R&D) 221 National Systems of Innovation (NSI) 222 Chapter 16: Sourcing Inputs 225 Chapter 17: Marketing the Product 229 Chapter 18: Pursuing World Class Manufacturing 233 Common Principles 235 Workers, Unions and WCM 236 New Union Strategies 237 Glossary 241 Index 249

About the Author :
Professor David Jacobson teaches economics and political economy at Dublin City University Business School. He has worked closely with SIPTU, evaluating programmes aimed at improving partnership approaches to running and developing firms in Ireland. His previous books include a study of public enterprise in Ireland and a textbook on Industrial Economics. He also co-edited the 1998 publication, In the Shadow of the Ti-ger: New Approaches to Combating Social Exclusion. Dr Terrence McDonough is a lecturer in economics at Na-tional University of Ireland, Galway, and a member of SIPTU. He has extensive experience in labour education in both the United States and Ireland. Keith Warnock graduated with a law degree from Dublin Uni-versity, and subsequently qualified as a chartered accountant, working in England and the USA. After studying for a post-graduate degree in the University of Manchester, he returned to Ireland and has lectured in accounting at the National Uni-versity of Ireland, Galway, since 1977. He has been Editor of the Irish Accounting Review since 1994, has published articles in academic and professional journals, and is a regular contribu-tor of poetry to the journal Critical Perspectives on Accounting.


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Product Details
  • ISBN-13: 9781860762093
  • Publisher: Oak Tree Press
  • Publisher Imprint: Oak Tree Press
  • Height: 234 mm
  • Sub Title: Economics at Work
  • ISBN-10: 1860762093
  • Publisher Date: 10 Mar 2001
  • Binding: Paperback
  • Spine Width: 21 mm
  • Width: 156 mm


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