Wihad Yasien
Global enterprise
Final research paper
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Accounting is the second oldest profession in the corporate sector, and Ernst
& Young is one of the oldest practitioners in the profession. Ernst & Young is one of
the big four accounting firms in the world. They have four main business services,
advisory, taxes, assurance, and transaction advisory services. Ernst & Ernst and
Arthur Young merged together in 1980 to become Ernst & Young.
Ernst & Young is a firm that puts priority to the employees they hire. Ernst &
Young express the people who work in their firm as “People who demonstrate
integrity, respect, teaming, energy, enthusiasm, and the courage to lead. People
who build relationships based on doing the right thing.” The Firms competitive
advantage depends on the ability to leverage the differences of the people they hire.
Ernst & Young is very diversified; they hire hardworking people with excellent
interpersonal skills from different places around the world. Ernst & Young employees
were named for three times in the Employees Choice Awards winner.
Other aspects that define Ernst & Young firm are leadership, innovation and
growth. Being Part of Ernst & Young allows their employees to develop leadership
skills by taking parts of some executive decisions in teamwork, and creating original
solutions to present to the client. In Ernst & Young you always get exposed to
different aspects of business. For example an audit can work with a retail company
client and then work with a manufacturing company client. An employee gets
promoted every three or four years if they have good ratings in the firm.
Ernst & Young offers its services to companies in an immense variety of
industries, including asset management, life sciences, mining, media and
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entertainment, retail, technology, hotel, leisure, …etc. The company’s financial
reporting division offers an IFRS/GAAP comparison so companies can compare and
differentiate between the international and US accounting standards. Ernst & Young’s
tax business has grown as the economy has become progressively globalized and
companies face more problematic international compliance issues related to some FDI
and tariff issue as an example.
Ernst &Young globalization and exposure to business around the world allowed them
to be attractive and trust worthy to their clients. They have 700 offices around the
world and they have over 167,000 employees as of the end of 2012.
Re-inventing business models helped Ernst & Young grow globally. They reshaped
their business reform to suite not only local business, but also international
companies. They also, grew because of their capability to adapt promptly to standings
of business changes and regulation variances that occur in the accounting world
frequently.
Companies are struggling between competing with fast growth and slow growth
among each other, and they try to symbol out how to combine and manage the
business resources in a diversified world. Ernst & Young is one of the most successful
Accounting firms that managed to help companies and lead teams among businesses
to accelerate to their maximum achievements.
If you are willing to be come an accountant who wants to be exposed to the
world, also who want to work for a big accounting firm. Ernst & Young is the perfect
choice for you among the big four accounting firms. It is a place that you will
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definitely enjoy being part of, because they are very diversified and you get unsealed
to a multicultural environment. They have worldwide clients that they audit and file
tax for like, MacDonald’s, Ralph Lauren, Coco-cola, and other international brands.
Why is Ernst & Young very global and diversifies comparing to the other big
four accounting firms? What did they do to become better and to attract worldwide
companies? What is there strategy? And finally are they going to develop and become
better or are they going to fall soon?
My research about Ernst &Young will spot the lights on the diversity and the
globalization that they developed in recent years. Additionally, My research study
will cover the strategies that they are using and the developments they made that
