Capitalism, Liberalism And Marxism Leninism - 1486 Words

Since the dawning of man and the discovery of wealth there has been one large question to concept of wealth; how do I get more? In the world of economics there are several theories and approaches but the three main powerhouses that have either stood the test of time or paved the way for economic revolutions are Mercantilism, Liberalism and Marxism-Leninism. Each of these economic theories have great strengths in their own rights but are of course not without great limitations. While there is no such thing as an inherently perfect economic and political system it is quite obvious that some come closer to the mark than others. Mercantilism has been nicknamed the economics of absolution. Mercantilism is the theory that a countries power depends mainly on its wealth, the power to build large and formidable navies and lastly the control and purchase of vital trade goods and routes. The two main ways to increase a countries wealth is to obtain as much gold and silver as possible and to est ablish a favorable balance of trade that sells more goods than it has to buy. In Mercantilism buying more than you are selling will lead to an unfavorable balance which will lead to a national dept. Europe in early history utilized mercantilism which lead to the creation of colonies. The soul purpose of a colony is to support and benefit the mother country. A good example of this is North America, North America had untapped raw resources such as minerals, metals and trees; it is worth notingShow MoreRelatedPopular political Ideologies in the 20th Century: A brief Study of popular 20th Century political trends.1367 Words   |  6 Pagesproclaim to be superior next to all others; the fact is that all worldviews have failings and merits and specific purposes. 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Motivation at Ryanair free essay sample

In the light of this culture, Ryanair has motivation roblems in all areas of the company, such as cabin crew, pilots and ground staff. It might be possible to use: MasloWs hierarchy of the needs theory; Herzbergs two- factor theory; Equity theory and Expectancy theory, to solve the Ryanairs motivation problems, however while all these theories can influence motivation of Ryanair employees, for some of them it would be difficult to analyse the results (e. g. MasloWs and Herzbergs theories). Next I will describe the characteristics of Ryanair culture, indicate the importance of motivation from an organisation point of view, and give a rief introduction about each theory, then I will analyse these theories strength and weakness, and finally I will explain how these theories can be used to influence motivation at Ryanair. Characteristics of Ryanair Culture At Ryanair there are several rules in regard to their company culture, such as, cuts of office expenses, and costs like training, uniforms or crew meals that staff has to pay for themselves. Normally, these costs are support by the airliners companies, which does not happens within Ryanair; thus due to the above mentioned rules Ryanair employees have a high urnover of staff. In facto, International Transport Workers Federation (IFT) has received hundreds of messages with complaints regarding the poor working conditions that exist at Ryanair workplaces (International Transport Workers Federation, 2004). Furthermore, Ryanair is very hostile to the employees, who as a result are hesitant to choose a union to fight for their rights. A second MBA 0B Motivation at Ryanair Ricardo Lopes problem is long working hours; some cabin crews had reported that they are regularly scheduled for long shifts (i. e. twelve-hour periods) without any rest International Transport Workers Federation, 2004). Third, although Ryanair is one of most profitable airlines, they request that new recruits pay 1,900 Euros for training, and if they are not chosen to Join the company, that cost will be lost (Boru, 2006). Of course, this leads to a plunge in the number of Irish recruits. Alternatively Ryanair has started recruitment of cabin crew in Poland and Latvia for less 33% off European staff wages. Pilots also have to pay for their own training (about E60,OOO) and do not Ryanair are pressured in their Jobs and receive low wages comparing with other companies. They are treated poorly by the company and have low morale, which leads to low Job satisfaction, high turnover and high absenteeism of the employees. Motivation in organisations Motivation can be defined as a persistent effort in a direction to a goal. From an organisation point of view, motivation is important because there is a strong link between motivation and performance. However, there are other factors that also contribute to performance, and even a highly motivated employee could have a poor performance if they do not understand their Jobs or have low general cognitive ability Oohns and Saks, 2005). But a motivated employee could increase the customers satisfaction, contribute to the growth of the company, and is more likely to keep their Job. Udechukwu (2009) suggets that Job satisfaction or dissatisfaction can influence the behavior of the employees, and that some of these behaviours could originate disruption in the organisation. Several studies have descrive that there are intrinsic and extrinsic factors that afect satisfaction possivitly or negatively (Udechukwu, 2009). It has been suggested that there are process and content theories. MasloWs and Herzbergs are considered content theories, which escribe the level and type of needs and how are associate with behaviors that determine satisfaction (Udechukwu, 2009). Process theories like equity theory, expectancy theory, reinforcement theory 2 and goal setting, are associate to the indivdual, about there inputs and outcomes and how individual behavior can be influenced to achevie satisfaction. A. H. MasloWs Theory of Motivation There are early theories and contemporary theories of motivation; one of earliest is the theory of Human Motivation from A. H. Maslow (1943). Maslow argues that there is a hierarchy of five needs in each person: hysiological needs, love needs, social needs, esteem needs and self-actualization needs. The needs are grouped by lowerorder and higher-order: the lower-order of needs are physiological and safety, these needs are satisfied externally; the higher- order are love, esteem and selfactualization, are satisfied internally. After one need is substantially satisfied, the next need will emerge, until the last one, so the need satisfied not longer motivates the person (Robbins and Judge, 2009). To put this theory into practice, organization must know what is the need of the employee that must be motivated. The weakness of the MasloWs theory is that there are few studies on it and it had not been validated in the field, mainly because the theory is very complex, has a psychodynamic base (Schwartz, 1983), and states that most persons have the same hierarchy of needs Oohns and Saks, 2005). This theory is a core of other motivations theories, and still used for academic studies; however, it is not used by managers in their organisations (Robbins and Judge, 2009). At Ryanair, see other needs, for example safety needs, being satisfied by the organization. Even the high-order needs of employees are not motivated. For instance, applying MasloWs theory safety needs, it would be necessary to improve the stability, by decreasing the number of hours per work period and stopping to pressure the employees with excessive commercial goals. In what concerns the satisfaction or improvement of esteem needs, Ryanair could implement measures that would appreciate and recognise employees (not only for achievement of commercial goals but also for customer support) and have a fare promotion rules. 3 F. Herzbergs Two-Factor Theory Other early motivation theory is from Frederick Herzberg and his collaborators, a two-factor theory which is also called as motivation- ygiene theory. This theory considered fourteen factors that can be grouped in two types of factors that could influence employees. On the one hand, there are intrinsic factors, also called motivators, such as achievement, recognition, and responsibility, which lead to Job satisfaction. On the other hand, there are extrinsic factors, also called hygiene factors, like working conditions, wages, security and supervision, which lead to Job dissatisfaction. According to Herzberg, Job satisfaction and Job dissatisfaction are not opposite; in fact, both are separate and lead respectively to no satisfaction and no dissatisfaction. If a employee is satisfied with his salary or work conditions, it does not necessarily make him an employee with higher Job satisfaction (Robbins and Judge, 2009). As other early theories, Herzbergs theory is not researched-based. Indeed, this theory was put in doubt because of the methodology used. Critics argued that when a person is asked a question, the presence of ego and self-recognition can be used to Justify that they are satisfied, otherwise when there is a problem the person can blame external factors. As a result of this criticism, Herzberg point out in 1968 that motivators are internal to each erson and cannot be externally stimulated. Nevertheless, this theory can contribute to Job enrichment (Bassett-Jones and Lloyd, 2005). When comparing this theory with MasloWs hierarchy of needs theory, Herzberg states that if a person feels that his hygiene factors are no dissatisfaction, this does not mean he is motivated. Therefore the organisation must influence the motivator factors to achieve motivation between employees; but for Maslow, if a person does not see satisfied his lower- order needs, the organisation must satisfy this needs first, in order to the person chieve high-orders of needs, because MasloWs theory uses a vertical hierarchy to describe the needs, while Herzbergs theory describes the needs horizontally (Udechukwu, 2009). At Ryanair, as compared the physical needs of Maslow, hygiene factors such as work conditions, salary or supervision have a negative impact within the employees, and lead to Job dissatisfaction. In addition, the motivator factors are also no satisfaction; however there are some employees that like and understand the Ryanairs culture, and thus are happy to be part of it. The implementation of Herzbergs theory must be pplied to hygiene and motivators factors, because both factors are not satisfied. For instance, Ryanair could change its policy in what concerns training fees, work conditions, and rest period, and this way improves hygiene factors. Furthermore, the organisation could also start of new polices regarding recognition and responsibility to their employees when performing there tasks, as motivators. Equity Theory Equity theory is considered a contemporary theory, which determines that Job satisfaction is on balance, when a person compares their own inputs and outcomes against the inputs and outcomes of other persons or groups. The inputs are everything that the person gives to her organisation, and the outcomes are what a person receives from the organisation. The ratio of input-outcome must be fair to the employee, because the equity in the distribution of outcomes for each employee is important (Robbins and Judge, 2009). Employees can compare themselves both internally the organisation with colleagues, or externally with friends, neighbours or ex-colleagues, even from past Jobs. The employee can make this comparison with persons of same gender, education, and work experience. These comparisons can lead a person to eel underrewarded, equity or overrewarded. When an employee feels inequity in an organisation, it can lower his inputs or can change the outcomes. He can assume different reality about him-self, assume different reality of others, choose other references for comparison, or even leave his Job. To summarize, the equity distribution of the outcomes contributes to the Job satisfaction. However, there are cultural differences that must be considered. In western culture, the economic outcomes are more important, while in more collective cultures the fairness of distribution is more relevant. Robbins and Judge, 2009, Johns and Saks, 2005). This theory has a strong research support, however it is mostly based in economic outcomes, and uses modifications of inputs and outcomes to change equity of the employees. The research of the person when underrewarded is more relevant 5 than when the person is overpaid, because the latter has less impact on behaviour. Some persons that are not equity sensitive are called benevolent, and for these the also the equity sensitives, in this case a person feel incommoded when underrewarded and guilt when equity or overrewarded. The entitleds are omfortable when overrewarded and feel upset when equity or underrewarded (Huseman et al. , 1987). The employees at Ryanair, when comparing their outcomes externally with other companies, conclude that they are underwarded. They receive lower wages than other airways employees, and their inputs are the same or greater than others, even though there is sense of equity internally. Ryanair employees are more concerned with external comparison because, changes of behavior have more impact when a person is underwarded. To improve the equity at Ryanair, the company could invest in surveys to know the average wage of low-cost airlines. It ould also implement more incentives to employees that match other airline companies. They could improve the outcomes for staff that work 12 hours shifts without breaks, to Justify the work they do for the company. They may consider having a collective agreement or union as other lowcost airlines, where employees earn more and have better work conditions. For internal equity and fair distribution of the outcomes, they could implement a reward system for the best employees, which would be fair for all. With better equity at Ryanair, Job satisfaction could increase and lower turnover. Expectancy Theory The expectancy theory from Victor Vroom describes motivation as being delineated by the outcomes that a person will receive for their performance at work. These outcomes can be rewards like promotions, wage increases, annual bonuses or better work conditions. Furthermore, the theory says the employees will be motivated if they believe they will be rewarded by the company for good performance. There are three sequential ideas about this theory: the effort given by the employee will achieve good performance; the belief of the employee that his performance could achieve a 6 desired outcome, and the reward itself given by the company satisfies the needs and ndividual goals of the employee. Many companies have limitations on the rewards they give; this compromises the goals and rewards each employee wants to receive for their good performance. The best way to reward the employees is though flexi- packages (include different types of rewards that an employee can choose), this way the employee has more opportunities to achieve their goals (Robbins and Judge, 2009). This theory is very complex to test because persons have difficulty identifying what is an instrumental reward and what is a reward for their good performance. Despite of this complexity, tests have moderate support and it is accepted by managers Oohns and Saks, 2005). Furthermore, the critics of the theory state being promoted or getting a wage raise could lead to outcomes that are not the employees individual goals, which concludes that the expectancy theory will not lead to the motivate an employee; however this is not simple because it is difficult to know what is the goal of each employee, and so, have the rewards available. In addition, several researches could not conclude if there are similarity or ambiguity between equity theory and expectancy theory. However, in terms of ambiguity, equity theory can be incorporate into expectancy theory (Steers et al. , 1996). Other studies, assume that expectancy theory can influence human behavior by cognitive manifestation and personal factors. These findings are supported by studies using expectancy-value as framework (Lynd-Stevenson, 1999). It appears that Ryanair does not use expectancy theory to motivate their employees, as employees do not expect any rewards when performing their tasks, because the only reward is to maintain their Job. The best way for Ryanair to improve motivation using this theory would be to implement a erformance appraisal system. To illustrate, this system would be fair and objective when measuring the performance of all employees, and this way they would feel they had the same treatment. For the outcomes of good performance, Ryanair could have several rewards to try matching these with employees individual goals. With these measures, issues of Job satisfaction and turnover could addressed among the Ryanair employees. 7 Conclusion To summarize, motivation is important for companies to improve Job satisfaction, and reduce turnover and absenteeism. If employees are motivated they an have a better performance and achieve their individual goals as they also achieve the company goals. All four theories above mentioned could be applied to Ryanair to solve Job dissatisfaction and high turnover of their employees. One theory is not better than other, they have all different approaches, although, the contemporary theories have better research support and practical methods compared with early theories. They could all, be applied at the same time, because one theory does not invalidate other theory, they can be complementary. Managers at Ryanair need to improve their human recourses measures to solve motivation roblems. They can use equity and expectancy theories for higher motivation and achievement of rewards for performance, and the employees can satisfy their dominant needs. There are different measures like bonuses, health plans, promotions, payment of extra-work, fair performance system, in-office childcare, all training paid by the company, and tenure benefits that can be implemented. All things considered, with the staff motivated and more appreciated by the company, the employees of Ryanair could have higher morale and consequently better performance. The Ryanair would also benefit with improved customer service and ncreased service standards, to become a low-cost airline with the service of a fullservice one.

Factors That are Beyond the Control Essay Example

Factors That are Beyond the Control Paper Well it is being done by computers. An external environmental factor is defined as factors that are beyond the control of the firm that influences its choices of direction ND action, organization structure and internal process (Pearce II, J. A, Robinson, Jar, R. B (201 1). The advance in e-commerce can affect how Apple runs the sales department. For example, with the increase in online purchases Apple no longer needs to buy, open and staff an actual store front location. Before items were purchased online, people would go to a store location and buy a new computer. But now consumers place orders online and have it shipped to their homes. Apple will have to stay on top of the system updates to make sure they are meeting the needs of their online hoppers. Another important external environmental factor for Apple Inc. Is to maintain a presence in the technology market. Globalization will be key to Apple Inc. s competitive advantage within the market. More companies are building relationships with foreign competitors to attempt to gain an advantage in these markets. As one of the most popular innovative companies, Apple Inc. As leadership in place to understand that if they do not globalize they will lose their advantage. Apple understood that by expanding into the international market they would have a major influence. By expanding into international markets Apple would increase their market, visibility and opportunity for investors. This can be great for investors considering in 2012 Apple phone grew to 25. 1 % in global markets share (Philanderer Staff. (2013). Apple Inc. Has always been known for the creative advantage in technology but as we know, technology is always changing. We will write a custom essay sample on Factors That are Beyond the Control specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Factors That are Beyond the Control specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Factors That are Beyond the Control specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Despite always being ahead of the game, other companies are slowly pushing Apple out of their top position. Other companies such as Samsung, Microsoft, and Google have shown great improvement and are becoming a threat. After Google created and developed the android market, they sent notice that they were going to be a force to be reckoned with. Samsung with their latest device the Samsung Galaxy SO was the top selling android device in 2012 according to (Dent, S. (2012). But with the release of the phone 5, Apple is set to take the lead in the near future. Competition in the market is something Apple is going to continue to expect. Competition is constantly growing especially since new competitors are always coming into the market. Companies like Microsoft and MM are Apples direct competition in the computer market. This has in some way affected Apples profit margin, when computer companies such as Sass can sell a laptop at a third Of the price of an Imax laptop. But despite the increase in competition Apple, has created a cult like atmosphere with their brand. Having worked in various studios, there are engineers around the world who are die hard Apple computer lovers. Important Internal Strengths and Weaknesses Internal environmental analysis is defined as factors within the organization that influences their activities pa articulacy the behavior of the employees. The internal will help Apple to continue to grow and succeed. Steve Jobs is and was one the best innovative thinkers of the 20th century. He created and developed a strategic plan that allowed continued success long after he was gone. Jobs started with the first home based computer then he was the driving force behind products such as the pod, tunes and the Macintosh operating system. He helped set a standard of excellence for Apple Inc. To continue building upon. Being innovative has been Apples claim to fame. Taking risk and giving consumers products that are not only cool but meets a persons needs created instant success for the company. This is a strength hat Apple has over there competition. When companies perform a SOOT analysis their goal is to create a tool that is used for leaders to understand their strengths and weaknesses. The SOOT always advises a company of the opportunities and threats as well. One weakness Apple Inc. Usually faces is their need to recall their products. For example, when you are the first to release a new product, the company has to deal with the initial defects and imperfections of the product(s). When products are recalled it decreases the profit margin for Apple Inc. , and they are forced to replace the items. Competitive Position and Possibilities Over the past 30 years Apple Inc. Has placed themselves in a great competitive position. With their advantage in technology, Apple Inc. Has a core line of products which they can continue to build upon for years to come. From computers to smart phones, consumers are constantly looking for the next great product and Apple is in the perfect position to meet those demands. With new products like the phone 5, Apple is pushing the envelope in the smart phone market. Conclusion Overall, Apple Inc. Has been a major player in offering great products and arrives to their loyal consumers.

Life Experience Essay

Life Experience Essay Life Experience Essay Life Experience Essay Essentials Life experience essay is the same as personal experience essay. It means that your life experience essay includes personal writing about yourself. You are welcome to explore different moments of your life, interesting people you met, or any other aspect you find interesting to explore. In most cases, life experience essay takes of the two forms: narrative or admission essay writing. Lets explore the secrets of life experience essay writing together. Secrets of Life Experience Essay Writing This first thing you need to keep in mind while writing your life experience essay is that it should have a central topic. You should avoid creating an essay which does not have any flow, unity in ideas, or proper organization. Without having a good outline in mind and on the paper, your life experience essay will not be well-written enough to get you a good grade. So, there should be one narrow topic. For example, you may write about one situation from a teenager years when you learned a valuable lesson. Probably, you learned about the value of true friendship or, on the contrary, your best friend did something bad to you. Writing life experience essay, you should remember that both good and positive moments can be turned into good essay. It does not mean that you should strive to make your reader cry; however, your life experience essay should be touching. Here is a list of good life experience essays to explore: Childhood memories Lesson from experience The way of getting new experience Advantages and disadvantages of experience Mistake youve made We Are Here To Help with Life Experience Essay If you struggle with writing a good life experience essay, we offer you an opportunity to take advantage of our professional essay writing services. We deliver only 100% original essays which are tailored to your specific needs, wants, and requirements. You may get thousands of life experience essays online; however, you will not get better writing service anywhere on the net. We collaborate with professional English writers who assume responsible attitude towards their job and who are talented enough to provide you with the best quality essays: If you have hesitations about our services, try google search to find feedbacks about our site. You will not see a single negative feedback about our services because we guarantee high quality writing and can definitely impress you with excellent life experience essay written for you by professional essay writers! Read also: 3,000 Words Term Paper SFU Writing Research Papers Writing a Research Paper MLA University Research Proposal Student Research Paper

Evaluates the main developments( history) of customer relationship Literature review

Evaluates the main developments( history) of customer relationship - Literature review Example It wasn’t as complex as today’s customer relationship which is well-developed. It primarily involved interaction between a company’s staff and customers. Even though it was useful, information on the existent database was unorganized, hard to track, update and retrieve (Moseley 1999). The 90s experienced great advances in terms of customer relationship. Companies started seeing the gains in extending perks to potential and existing customers for repeat buys or in exchange for applicable customer information. Companies started viewing customer service as a skill that is evolving continuously instead of a stagnant service that can be used whenever (Moseley 1999; Timm 2011) Today, Customer Relationship Management is at its full potential making it possible for businesses to attain superior customer service and maximize their potentials. Customization of software to fit a specific business or industry is made possible by innovation and more improved tools are available. Benefits savoured by clients are beneficial to the companies awarding them as well since they can now easily track the patterns, spending history and behaviour of their clients (DeGregor 2011). Storage matters for huge databases, particularly for big companies can now be settled with Customer Relationship Managements online capabilities. Opening secure internet mediums for staging Customer Relationship Management and offsite storage of data are now being offered by Customer Relationship Management software developers. Customer Relationship Management is most useful for those organizations that immensely depend on customer service or technology. Most Customer Relationship Management-based software and tools are hence used by the computer hardware and software sectors, the telecommunications industry and credit card companies. Customer Relationship Management history surely indicates that something really effective and

Hatian Revolution Essay Example | Topics and Well Written Essays - 1250 words

Hatian Revolution - Essay Example The army had fought great wars against the armies of Britain, Spain and France, defeating them all in a span of thirteen years. Like the American independence war and the French revolution several decades earlier, Haiti revolution had its basis on the principal of self-rule and termination of cruelty from white masters. The American war of independence was against subjugation by colonialists, with proponents claiming that no country was superior to the other. The principal concern was lack of representation in governments while the Americans were paying taxes to their German and Britain colonists, a practice that amounted to subjugation of their rights. The French revolution on the other hand was an extension of the self-rule principle from nation state relations to the domestic spheres. Their basic tenet was that all citizens in a state were superior to the state itself and that no man was superior to the other. Whereas these two revolutions form the basis for freedom fights, they b oth centred on rights and freedoms of white men only and did not extent to non-whites or to women. Ironically, the Haiti revolution was against slavery and misrule by French and American among other white countries including Spain and Britain. With large farmlands and other economic activities in their colonies, white rulers mistreated local residents and black slaves whom they forced to work under very demeaning conditions (Sara 45). Once a free independent nation, the urge to avenge against the French colonialists drove the new government under the rule of Dessalines to order a total elimination of all white French settlers on the island under the pretext that they posed security risk to the young nation. This venture spared Americans and other foreigners, but led to extermination of thousands of white Frenchmen, women and children. The extend of Dessalines’s ire towards former French settlers surfaced in his â€Å"liberty or death† proclamation where he described wh ite Frenchmen as insatiate blood suckers who had fattened themselves with the hard toils of Haitians. Dessalines destroyed a considerable size of the island’s population in unleashing revenge on the remaining white French settlers. Population estimates indicate that a third to half of the population had died or fled the island over the thirteen years of war while over a hundred thousand were permanently disabled (Sara 33). The revolution period also saw sugarcane plantations, mills, and irrigation works destroyed, burned out or abandoned. The large standing army also kept productive men out of the fields. Dessalines declaration that no Haitian soldier could work on the fields left the fields short of close to forty thousand productive workers. Further, after thirteen years of fighting, the habit of hard work had diminished among the Haitian population. Women who had previously worked as slaves on the field continued to fill that role after independence, contributing essential ly the bulk of Haiti’s productivity, since they constituted over two thirds of the population (Leyburn 77). They however too abandoned this form of manual labour, taking up small scale trading instead. Without devoted and willing labourers on the fields, Haiti’s productivity took a serious dip down the drain. It is estimated that between 1789 and 1801 sugarcane production declined by 80%, while coffee production declined to 30% compared to production before the revolution begun. With this kind of decline in major economic production sectors, the viability of the nation and its economic future were in great peril. Realising the need to improve the island’

Method of Money Laundering Essay Example for Free

Method of Money Laundering Essay Structuring deposits The Bank Secrecy Act of 1970 requires banks to report any deposits exceeding $10,000.01. This is not a problem for most of us, but it is a big barrier to money-laundering criminals looking to rid themselves of some cumbersome currency. Launderers will hire low-level lackeys to make multiple small deposits, either on different days or at various branches on the same day to work around this pesky law that attempts to deter money laundering, It is a complex, time-consuming way to launder money, and one that has been rendered even more difficult by computer algorithms that look for suspicious deposit behavior and raise an red flag when one is found. see more:speech on money for asl Banks Far more exciting and global in the practice of money laundering is the use of offshore and overseas banks. Nations like the Cayman Islands, Bahamas and Panama are very accommodating to criminals looking to legitimize their cash; these nations are unrestricted with regards to burdensome banking laws and anti-laundering procedures, which ultimately helps hide the launderers behind strict veils of secrecy. Opening accounts in a number of these offshore accounts allows launderers to move their money around and create a nearly impenetrable defense against curious investigators. Some countries (China and Pakistan among others) have a history of well-established underground banks that have been accepting deposits from sketchy clients for centuries. They legally operate outside of the mainstream banking system and outside the control of the government. There is often no paper work, just the reputation of the principals involved. Shell companies Enterprising criminals looking to legalize their cash can set up various companies that exist for the sole purpose of money laundering. These so-called shell companies often offer some sort of service that can easily be fudged and usually accepts cash as payment when doing legitimate business (beauty salons and trades like plumbing are commonly used). The dirty money is funneled into the company, made to look like legitimate income with fake invoices and receipts and then deposited into the shell company’s accounts as clean, wonderfully spendable cash money. Using these shell companies to stay one step ahead of â€Å"the man† is a shell game of its own. Forensic accountants can strip away layers of deceit and reveal the shady transactions below, which means that only true criminal masterminds with really good accountants should consider this as a laundering option. Legitimate businesses Criminals looking to clean their money can also be good corporate citizens by investing in legitimate business. Cash-rich businesses like bars and strip clubs are the most common, with the dirty money seeded in with the legitimate revenue and squirreled away in the business’ bank accounts. The safer method is to use the dirty money to â€Å"buy† the services offered by the legit businesses, but this necessitates lots of fake invoicing and troublesome number fudging and you can safely assume that most criminals choose the easy money of crime out of laziness, which makes this a decidedly unattractive alternative when looking for money-laundering options. Gambling With so many cash transactions taking place every day, casinos have become highly valuable money-laundering institutions because chips can be purchased anonymously with dirty money and after a period of time they can be cashed back in and turned into clean money. Even if the casino follows the letter of the law and asks for ID to record the transaction, the Feds are powerless to prove the money was ever dirty. Global criminal enterprises can even ask that the â€Å"winnings† be used as credit at the casino’s overseas franchises. With some games offering as much as 93% return on your money, certain criminals are willing to chance some losses and turn their illicit cash into legitimate money by actually gambling with it. One particularly popular method involves two associates at the roulette table. While one bets a substantial amount on red, the other places a similar amount on black. Provided neither zero nor double zero come up, one side doubles the money and turns it legit at the same time. However, sophisticated surveillance and casino security have limited this scheme in recent years. Down at the track, some crafty launderers will put the word out that they are willing to buy winning tickets at a premium. They then cash in the tickets as clean money and pass the bonus of cleaning the money onto the unsuspecting legitimate gambler, who is usually so stunned at their good fortune that they cannot appreciate their predicament. No money, No problems It is an enviable position that many would like to be in having so much cash that you do not know what to do with it. However, cleaning money is harder work than earning it. Criminals have to stay one step ahead of the law and they constantly run the risk of losing their cash to shady launderers or eagle-eyed cops. Often, it is not the drug dealing or the extortion that gets these law breakers busted, it is their attempts at concealing the money. So, if you ever decide to get in â€Å"The Game,† watch what you do with your money.