Sign Up Now
Get instant access to over 1 million+ study documents
OR
Already registered? click here to login
By creating your account, you agree to our terms of service, privacy policy and student honor code.
Ethical Strategies
The emphasis strategic decisions companies make ethical implications. You briefly summarize ethical dilemmas
Strategic decisions that companies make and ethical implications
According to Laura Olkkonen and Vilma Luoma-aho's article "Managing mental standards with corporate citizenship profiles," "when talking about corporate responsibility and stakeholder thinking, companies need to find ways to combine two profound needs to function; the society's need for production and companies' need for societal consent" (Olkkonen & Luoma-aho 2011:12). Corporations are ethically bound to show a profit for their shareholders. It also could be argued they have a responsibility to stay in business keep their employees at work, as well as to honor the vision and mission statement of the founder. But what happens when the ethics of social responsibility seem to conflict with the need for a company to make money?
But acting unethically does not automatically result in profits in the long-term. Companies that egregiously flout basic safety standards draw fire from the public and the media. If companies break the law, regarding their...
Olkkonen and Luoma-aho suggest that companies strive to add value by branding themselves as showing environmental, cultural or technological citizenship in a manner that generates additional revenue for the company by fostering good will and boosting the profile of the organization.
An organization does not need to be outstanding in all of these areas. Rather, the organization should focus on social responsibility in an area which is well-suited to their industry. For example, a technology company might support an initiative to donate computers to low-income students or to provide scholarships for low-income students to study technology in college. However, this does not mean that a corporation can choose to be responsible in one area and ignore the other areas of corporate responsibility. Not polluting or endangering the welfare of the public through environmentally unsafe practices must be regarded as a minimum, basic standard for all corporations to fulfill. Corporations overlook cultural responsibilities at their peril, as can be…
Reference
Olkkonen, Laura & Vilma Luoma-aho. (2011). Managing mental standards with corporate citizenship profiles. Electronic Journal of Business Ethics and Organization Studies, 16 (1): 13-20.
Beyond that, there is little evidence of clusterization either domestically or in the global market The sugar industry is in decline. However, there remain a few opportunities. The first major opportunity is the growth in China. One of the true growth markets in the sugar world, China is increasing in affluence and increasing its consumption of sugar-laden Western foods. The Chinese market increased by two-thirds in just six years, from
Therefore, they use strict evaluation criteria to make choice among different alternatives. Keeping in view the strength of customers' bargaining power, Toyota and other automakers are expending huge amounts on advertisements and promotional campaigns to create awareness about their brands and convince these customers to prefer them over all other brands (Jenny & Scammon, 2010). 5. Internal Environmental Analysis for Toyota Motor Corporation 5.1. The Resources Types: Like other types of business
Company audit occurs when there is need to examine the performance of a big company especially the financial and the accounting records over a given period of time. Professionals such as the certified public accountant always do the auditing. The audit of a company is significant in the verification of accuracy particularly in the accounting records. A company like coca cola will need an audit to help in verifying their
The claim that a board member familiar with forensic accounting would have been able to uncover such a fraud holds little water given that it took a team of experts working in secret many months to uncover the fraud. However, the argument generally holds that better board composition, and more engaged board members, would have prevented such a fraud. Nadler (2004) argues that better boards are less important for
Although the company relies on information technology it is not at the forefront so can adapt more slowly. There are limited political-legal and societal implications. The most important force -- economic -- does vary but the North American market is by far the most important. Jet fuel prices do not vary significantly from country to country. Industry competition is driven by overall demand levels, price and service. These forces do
Strategic Management at McDonald's McDonald's Strategic Management Strategic Management at McDonald's Strategic Management at McDonald's McDonald's: Introduction Organizational Structure and Corporate Governance Industry Sector Analysis Michael Porter's Five Forces Model Key conditions in the External Operating Environment of McDonald's and its Industry The Value Proposition on McDonald's Products Financial Performance SWOT Analysis for McDonald's TOWS Matrix for Alternative Strategies BCG Growth Share Matrix for McDonald's Marketing, Financial, and Research & Development Strategies McDonald's Leadership Joint Ventures, Strategic Alliances, and Partnerships Performance Measurement Methods and Benchmarks Recommendations References Table of Contents Sr.