Explain the following.

What Corporate Responsibility means to Deloitte

For any enlightened business, having a clearly defined approach to the impact of climate change, involvement with local communities, responsible business practices and the creation of a quality workplace environment must be a core part of business strategy. At Deloitte we all share a desire to give something back to society. We are active members of Business in the Community Ireland (BITC), whose mission is to harness the power of Irish business to maximise its positive impact on all its stakeholders and society.

Deloitte also partners with a number of community organisations as well as supporting a number of individuals in their volunteering efforts each year.

Deloitte was presented with the Business Working Responsibly Mark by Minister Richard Bruton T.D. in October 2013, and in November 2018, were re-accredited for the second time. The mark is a fitting endorsement of the best practices we have in place in the areas of HR, the environment, customer relationship management, marketing, corporate social responsibility and indeed how we do business overall. Furthermore, the award recognises our clear focus on talent, quality and our responsibility to all of our stakeholders.

Brendan Jennings, Managing Partner - "The Deloitte network takes time to reflect on our purpose - to make an Impact that matters. This purpose defines who we are. It endures - transcending the everyday and binding us together. It gives us our reasons to exist as an organisation: serving our clients, inspiring our people and contributing to society. It is only by all of us behaving responsibly in everything we do that will earn and retain the respect of the business and the wider community."

Gerry Fitzpatrick, CR Partner - "Our approach to corporate responsibility is shaped by the recognition that, because we are a professional services organization, tour impact on society comes in large part from the way we serve clients. Accordingly, we seek to achieve excellence and continuous improvement in three ways: conduct - responsible business practices, people - investing in the talent and diversity of the future workforce, and communities - commitment to local communities and shared global challenges."

The Business Working Responsibly Mark

The Business Working Responsibly Mark - Audited by the National Standards Authority of Ireland (NSAI) and based on ISO 26000, this all-encompassing standard certifies responsible and sustainable business practices and is available to organisations worldwide. The Mark assesses best in class in CSR and looks at leadership, policies, practices, performance, and impact in areas such as ethics, stakeholder engagement, employee engagement, customer service, innovation, supply chain management, environmental practices and CSR communications

"Increasingly in tender situations, we get asked around our CSR practices. The mark helps us to tell that story" - Brendan Jennings, Managing Partner.

WorldClass - 50 million futures prepared for a world of opportunity

Deloitte aspires to reach 50 million futures by 2030, in-line with the United Nations' Sustainable Development Goals (SDGs).

Inspired by the promise of this industrial revolution, it's acceleration of technology and digitization across all aspects of life present incredible opportunity. We are preparing people, and the organizations they are part of, to be ready for the prosperity and progress it offers. Our work developing leading-edge business solutions, bringing fresh perspectives to clients, and training the next generation of business leaders is an important first step. It is not enough.

Globally, millions have been left behind, unable to fulfil their aspirations and potential. They lack the education, skills, and training needed. This is causing widening inequality, declining productivity, and rising social tensions. This is why we have created WorldClass - an ambitious global initiative that empowers people to be part of this new world economy.

Through this initiative, we are committed to preparing 50 million futures for a world of opportunity. This bold ambition exemplifies how we live our Purpose, making an impact that matters, by addressing complex global challenges in society. By aligning around a common goal and mission, we are inspiring increased commitment and investment in education, skills development, and access to opportunity. Watch the video below to learn more.

Charities we support - Fundraising

At Deloitte, we run a number of fundraising activities during the year to reflect causes that have touched many of our people whether directly or indirectly. Just some of the organisations that we support are Pieta House, The Irish Cancer Society, St. Vincent de Paul, Goal, Nurture Africa, The Irish Hospice Foundation, and many more.

Volunteering

We partner with a number of organisations through which our people can give their time and skills back to the local community. With Suas, volunteers work with our partner school in Warrenmount School, Dublin 8, to read with the same group of students each week, not only does this improve their literacy but also establishes a strong support relationship for the mentees. Our longstanding partnership with the Junior Achievement programme encourages children to stay in school and creates a culture of enterprise within the classroom. Volunteers teach classes from primary through to secondary school showing them how they can contribute to the world around them as individuals, workers and consumers. The Early Learning Initiative works to address the problem of educational underachievement in marginalised communities. We work with ELI in the lower docklands and south of the River Liffey in each of our programmes offered. We also offer computer literacy programmes in partnership with Age Action, where our people spend time allowing learners to get comfortable with their chosen technology, whether it's a laptop, phone, I-pad, or email. Learners and volunteers benefit from the experience of meeting with new people.

Overseas Volunteering

Deloitte have partnered with Nurture Africa, an Irish founded, internationally registered non-Governmental Organisation that works in Uganda. Nurture Africa has a targeted focus upon Healthcare, Education, Child Protection & Gender Equality and Economic Empowerment through business training and micro-finance projects.

Their work centres around nurturing the mental, physical and emotional growth and wellbeing of Ugandan HIV/AIDS infected and affected orphans and vulnerable children, and their HIV+ parents/guardians.

During Deloitte's partnership with Nurture Africa, volunteers have travelled to Uganda each year to offer their skills and time to help local organisations to improve their business acumen, in areas such as accounting, excel, and power point, as well as practically, by providing labour to help with local building projects. Volunteers also have the opportunity to meet and spend time with local families and children who have benefitted from the services and facilities provided by Nurture Africa.

IMPACT Day

IMPACT Day is our flagship volunteering day that allows our people to give back to the local and surrounding communities by providing their time, labour and expertise to the selected organisations. This one day of IMPACT is a fundamental part of Deloitte's CR Strategy and one of the most popular days of the year for our people to get involved in the CR programme and volunteer. With 775 people taking part in 2017 you can imagine the impact that can be made. Volunteers can choose to partake in professional skills projects, giving their skills to work on matters such as business strategy, websites, or marketing approaches, or traditional volunteering, where volunteers might carry out a cleanup for an organisation, some painting or gardening.

Intern and Co-op IMPACT Day

So that everybody has the opportunity to get involved, we also hold a separate IMPACT Day in July for our interns and co-ops, since many of them might otherwise miss the firm wide day. This day sees over 200 co-ops and interns volunteer on traditional style projects carrying out tasks such as painting, gardening, and cleanups.

Intern & Co-Op IMPACT Day Report 2017

Pro Bono work

At Deloitte we have partnered with Ashoka Ireland who identify high potential social entrepreneurs. Through Ashoka, Deloitte offer support to such entrepreneurs in finding their feet during the first few years of business by offering advice in Audit, Tax and Consulting.

Green Agenda

The Green Agenda initiative is a key component of our Corporate Social Responsibility programme. Our goal is to promote sustainability and reduce the impact of our operations on the environment. Through our "Think Green" initiatives we are actively engaged in monitoring our impact on the environment and creating awareness amongst our people. Staff participation is key in ensuring that our sustainability programme is a success, so, all staff members are encouraged to put forward their own ideas for a greener office and to 'Think Green'. Our modern offices employ the most up-to-date energy and waste management practices. We continue to invest in high end IT, communications and printing technologies with a view to making savings in power, cooling, travel and consumption. In 2011, Deloitte became one of the first professional services firms to obtain the ISO 14001-2004 certification for our Environmental Management System, and were re accredited in October 2016 with ISO14001.

QUESTION TWO [30]

"We are active members of Business in the Community Ireland (BITC), whose mission is to harness the power of Irish business to maximise its positive impact on all its stakeholders and society."

Identify and discuss the various stakeholders that are relevant to Deloitte as well as an ethical model that is best suited for an organisation such as Deloitte. Provide a rationale for your choice of ethical model.

1.Which of the following is a positive statement?

a.If inflation increases, employment increases.

b.If employment increases, inflation increases.

c.Measures should be taken to rid the economy of inflation.

d.all of the above.

e.both a) and b) are correct.

2.Fiscal policy can be divided into

a.expansionary and contractionary.

b.discretionary and automatic stabilizers.

c.easy money and tight money.

d.both a) and b) are correct.

3.An automatic stabilizer

a.requires Congressional and Presidential approval each time the unemployment rate increases by apercentage point.

b.automatically dampens the swings in the business cycle.

c.both increases and decreases the money supply as needed.

d.all of the above.

e.both a) and b) are correct.

4.If the economy is spending $20B and needs to be spending $30B for full employment, then a government increase of $2B is needed for full employment if the multiplier is

a.2

b.3

c.4

d.5

e.6

5.If the multiplier is 2, then the MPC is ______ percent, and the MPS is _______ percent.

a.0 // 100

b.100 // 0

c.50 // 50

d.80 // 20

6.A tax multiplier is a ________ number than the spending multiplier and applies to _________.

a.smaller // money supply changes only

b.smaller // tax changes only

c.larger // money supply changes

d.larger // tax changes only

e.smaller // both spending and tax and money supply changes

7.Adding additional members of the family to the labor force

a.decreases the unemployment rate.

b.can increase economic growth, especially if productivity is not growing.

c.automatically increases productivity.

d.automatically decreases productivity.

8.In the discussion of the article on the decoupling of wages and productivity, which of following pairs of scenarios were discussed and diagramed in class?

a.all wage income being transferred to capital & all capital income being transferred to labor

b.all wage income being transferred to high wage earners & all high wage income being transferred to capital

c.increases in income from growth going equally to capital and labor & increases in income from growth going mainly to capital.

d.increases in income from growth going mainly to capital & increases in income from growth going mainly to high wage earners.

e.both c) and d) are correct.

9.Higher taxes and less government spending may be implemented in order to lower the deficit. This is a __________ fiscal policy, which could cause a recession.It will then lead to lower tax collections and higher transfer payments, which will ______ the deficit.

a.contractionary // increase

b.contractionary // decrease

c.expansionary // increase

d.expansionary // decrease

10.You deposit $100,000 in a bank, and the reserve ratio is 10 percent. The bank can expand its loans by ________, and the money supply can increase by as much as ________.

a.$80,000 // $800,000

b.$10,000 // $100,000

c.$90,000 // $1,000,000

d.$90,000 // $900,000

11.The Fed engages in open market operations and sells government securities. The result is

a.lower interest rates.

b.higher interest rates.

c.interest rates remain unchanged since there is no reason to think bond prices changed.

d.uncertain since more information is needed.

12.The supply for money model is drawn as a ___________ line based on the assumption that the _______ determine(s) the money supply.

a.vertical // consumer need for cash

b.vertical // Federal Reserve Bank

c.upward sloping line // President and Congress

d.horizontal // Federal Reserve Bank

15.Changes in which of the following will cause a change in exchange rates?

a.real interest rates

b.consumer preferences

c.inflation rates

d.all of the above

16.A strong dollar benefits

a.all Americans.

b.no one except those living in Europe.

c.Americans buying imports and traveling abroad.

d.U.S. firms selling goods in a competitive international market.

e.neighborhood shopping centers.

17.The "Schools of Thought" handout shows

a.Keynesian macroeconomics is correct.

b.non-Keynesian ways of thinking about macroeconomics.

c.that laissez-faire should always be used except during times of war.

d.all of the above.

18.Money demand occurs because people ____________ and will pay a price for it known as the interest rate. This ______ true for those who hold high sums of money in a checking and savings account.

a.have insufficient income for many of their needs // is also

b.have insufficient income for many of their needs // is not

c.need to have a certain amount of liquidity since non-liquid assets cannot be easily traded // is also

d.need to have a certain amount of liquidity since non-liquid assets cannot be easily traded // is not

19.Which part of the money supply equation represents aggregate demand?

a.M

b.MV

c.PQ

d.MV = PQ

20.What assumptions are made about the equation MV = PQ?

a.Velocity and output are constant.

b.Velocity and output are often changing.

c.Velocity changes but not output.

d.Output changes but not velocity.

e.The general price level has little to do with the money supply.

21.The accelerationism model is an alternative interpretation of the

a.supply-side Laffer curve, which shows optimal tax rates

b.Phillips' Curve model, which shows the unemployment/inflation tradeoff

c.Phillips' Curve model, which emphasizes the relationship between the money supply, velocity, and inflation

d.aggregate demand & aggregate supply model , which shows that only in the Keynesian range can spending increase without inflation

22.The accelerationism model says that fiscal and monetary policy

a.can affect the level of employment both in the short?run and long?run.

b.can never affect the level of employment.

c.can affect the level of employment only in the short?run.

d.can affect the level of employment only in the long?run.

23.The natural rate of unemployment can occur

a.at any inflation rate.

b.only with low inflation rates.

c.only with high inflation rates.

d.only with zero inflation.

24.The natural rate of unemployment

a.can change in quantity through fiscal and monetary policy.

b.can change in quantity but by some other means than fiscal and monetary policy.

c.can change in quantity with a shift of the aggregate demand curve

d.can never change in quantity.

25.Which school of thought can be considered a rebuttal to the nonactivist schools of thought?

a.supply side economics

b.traditional Keynesian economics

c.new Keynesian economics

d.accelerationism

26.Menu costs refers to

a.the difficulty of changing computer software.

b.prices on a restaurant menu.

c.the costs involved in changing prices.

d.all of the above.

e.both a) and b) are correct.

27.Menu costs present a challenge in responding to changes in supply and demand. This has something in common with

a.the implications of MV = PQ.

b.efficiency wages.

c.the follies of using fiscal and monetary policy to stimulate aggregate demand.

d.structural unemployment.

28.Fiscal policy refers to the idea that total economic output and unemployment can be affected by changes

a.in the money supply.

b.in government spending and taxes.

c.in trade policy.

d.none of the above is correct.

29.Which of the following is not included in M1?

a.

a $50 bill in your wallet.

b.

$50 in your checking account.

c.

$50 in your savings account.

d.

a $50 bill in your friend's wallet.

30.An open market purchase of government bonds by the Federal Reserve results in __________ in the supply of money and __________ in interest rates.

a.

an increase; a decrease.

b.

a decrease; a decrease.

c.

an increase; an increase.

d.

a decrease; an increase.

31.When the U.S. central bank, the Federal Reserve, increases the supply of money:

a. U.S. interest rates fall which cause the U.S. dollar to depreciate against other currencies.

b. U.S. interest rates rise which cause the U.S. dollar to depreciate against other currencies.

c. U.S. interest rates fall which cause the U.S. dollar to appreciate against other currencies.

d. U.S. interest rates rise which cause the U.S. dollar to appreciate against other currencies.

32.Other things the same, if the exchange rate changes from 120 yen per dollar to 100 yen per dollar

a. Japanese made products will become cheaper for U.S. consumers.

b. U.S. made products will become cheaper for Japanese consumers.

c.exports from the U.S. to Japan will fall.

d.exports from Japan to the U.S. will rise.

33.Which of the following will result in a long-run increase in the U.S. GDP?

a.An increase in the U.S. labor force.

b.An increase in the U.S. capital stock.

c.An increase in innovations in the U.S.

d.All of the above.

34.If the United States had negative net exports last year, then it

a.sold more abroad than it purchased abroad and had a trade surplus.

b.sold more abroad than it purchased abroad and had a trade deficit.

c.bought more abroad than it sold abroad and had a trade surplus.

d.bought more abroad than it sold abroad and had a trade deficit.

35.The short-run aggregate supply curve can go beyond full employment. The least likely way to do it is

a.offer overtime.

b.hire temporary workers.

c.acquire more land.

d.defer taking machines out of commission for maintenance for a short while if possible.

36.The curve/line which also doubles as the full employment supply line is

a.the short run aggregate supply curve.

b.the long-run aggregate supply curve.

c.the aggregate demand curve.

d.both b) and c) are correct.

37.The line which forms a 45-degree angle in the Keynesian cross model is

a.aggregate supply line.

b.income line.

c.aggregate demand line.

d.both a) and b) are correct.

38.The slope of the consumption function is also known as

a.the marginal propensity to consume.

b.the average propensity to consume.

c.the multiplier.

d.all of the above.

39.Which model can show both unemployment and inflation occurring at the same time?

a.aggregate demand and aggregate supply model with the three range aggregate supply curve

b.the Keynesian cross model

c.both of these.

iii.

Suppose you are given the following information about a monopolist: Market Demand Curve: P = EEK} 2Q MC for the monopolist: MC = 20 + 2Q Total Cost for the monopolist: TC = EUQ + Q2 + 100 Use this information to answer this set of questions. 1) 2) 3) 4) What is the prot maximizing price and quantity for this monopolist given the above information? Show how you found your answer and what your reasoning was. Calculate the monopolist's prot. Calculate the monopolist's consumer surplus {CS}, producer surplus (PS), and deadweight loss (DWL). In a well-labeled graph illustrate this monopolist: he sure to include the areas that rcpresent CS, PS. and DWL in your graph. Suppose demand increases by 90 units at every price. Find the equation for the monopolist's new demand curve. Then, calculate the new pmt maximizing price and quantity for this monopolist given the new demand curve. Calculate the new level of monopoly prots. Calculate the value of consumer surplus {1135'}, producer 3111le {PS'}, and deadweight loss {DWL'} for this monopolist given the information in (3}. In a well- labeled graph illustrate this monopolist: he sure to include the areas that represent (33*, PS', and D'WL' in your graph