Pirate Steel Company
The Pirate Steel Company is in the steel producing industry that manufactures in the United States. The Pirate Steel Company sells its products in the United States and many other nations abroad. Pirate Steel was considered a leader in its industry and maintained high standards of achievement until foreign competition began to affect their profitability. Though Pirate Steel has never been very cost conscience in production operations, the increases in material, labor, and other inventories has made a deep impact in Pirate Steel's view on minimizing costs. With an increase in production costs, the selling price of the company's manufactured goods increased as well. This increase in prices had to be closely monitored due to competition. With new regulations on production expenses, the people in production, like the foreperson and the manager, had the entire burden on them since they had to justify all repair and maintenance expenditures. With new procedures, every work order form had to be exaggerated so that it seemed necessary for repair and maintenance expenditures. Since the work order forms were exaggerated, the accountant found that these requests were filled with misleading
------------------------------------------------------------------------ The company should look to implement a program that will allow the employees to be able to develop the skill required to properly complete the work order forms. They should also look to perform their jobs in a way that will follow all of the rules and laws that would be applied to the situation. With these revisions in procedure, the company should be able to prepare reports with accurate information. The company will need to use a system that will allow information to be communicated fairly. The information that is included in these reports should be recorded in a way that is not intended to negatively persuade the user to get the wrong impression of the writing. These changes must be made because the company's cost control policy is not good from an operational point of view with the requirements needed for a work order form to get approved. Faze will need to schedule a meeting between the CEO, the production manager, the accountant, and himself to be able to clearly ! illustrate the manner in which the work order forms should be completed. He would also use this opportunity to discuss any other improvements to the system that could be implemented. After this meeting, each individual could go to their respective departments and relay the message of how things have been changed. The Theory of Rights states that each person should be treated as fairly as possible and that others have the obligation to treat everyone equally as a sense of moral duty. The Theory of Rights could be applied in this situation allowing the accountant to overlook this minor problem because he feels that this process is the most efficient way for the company to operate. Faze must go to the production manager and let him know that the fictionalized work orders will not affect the company in the short run, but in the long run they might pose a potential loss in income due to excess expenditures in repairs and maintenance.
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Approximate Word count = 1384
Approximate Pages = 6 (250 words per page double spaced)
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