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Social & Political Environment of Business
Protectionist policies include policies such as tariffs (taxes) upon imported goods and quotas, the latter of which limits the number of imported goods which can be brought into the country. The intention of protectionist policies is to protect local industries and jobs from competition.
From the perspective of a poorer nation, protectionism can have certain advantages. A developing nation frequently does not have the resources to compete with a more developed nation in terms of the quality of the goods it manufactures. Developed nations can frequently operate on economies of scale and price their goods much more cheaply and have better technology to produce those goods. Through protectionism, a local industry in a poorer nation has a chance to grow and develop while it is 'protected' and can employ native workers in the process.
Q3. However, there are considerable detriments to embracing protectionism: from a free trade standpoint, it makes little economic sense for a nation to produce what it can more cheaply import. This is unfair for consumers,...
Protectionism can also start trade wars with other nations, limiting the ability of the protectionist nation to export its goods and thus ultimately hurt the protectionist nation's economy.
Q4. Economic globalization is defined as the increasing connectivity of the international economy on a global level and the mutual dependence fostered between different nations on an economic basis.
Q5. Overall, economic globalization has increased the markets for goods and services and improved the economic lot of many people; it has encouraged a freer flow of democratic ideas and made modern technological developments and improvements more accessible. However, it has also created an even greater divide between the haves and the have-nots of the world. It has erased many of the differences between different national cultures. And the growing embrace of the Western way of life has had a very negative impact upon the environment.
Q6. Sweat shops are factories in which the workers labor for many hours a day,…
Reference
Newton, L., Englehardt, E. & Pritchard, M. (2012). Taking sides: Clashing views on business ethics and society. Expanded 12th Ed. New York: McGraw-Hill.
However, a corporate executive, according to Friedman, would have to spend other people's money for a general social interest, by means of reducing returns to stockholders, lowering worker wages, or raising the price of products. However, herein lies the basic flaw of this author's reasoning, for the social responsibility of the business as it falls on the executive is to make sacrifices for the benefit of others. In a
Business Plan In order to accomplish our mission we set forth the following strategic goals, they include: Build the Financial perspective of our business by addressing how shareholders view the firm and which financial goals are desired from the shareholder's perspective. Goals are closely linked to the business lifecycle and must be adjusted over time. For example, in the early stages, our goal is revenue growth, but as the company becomes more
The office and administrative expenses would remain constant even to that point, as would the insurance expense. Exhibit B: Cash Flow Statement, Year Two At this point, the business is earning a healthy return and Mr. Ahn is receiving will be able to bring in a reasonable salary. The nature of the business may well change at this point. At the maximum revenue of $144,000 per year the pretax profit would
Environments The real world companies that are being studied are Starbucks, Apple and FedEx. These three companies face different external environmental challenges and have focused on shifting their internal environments in order to better compete in their external environments. The PEST analysis will be used as the analytical framework (QuickMBA, 2012). Starbucks operates in the quick service restaurant industry, and is one of the top brands in that business (QSR Magazine, 2011).
Stakeholders may also exercise political power indirectly, for example, during protests by environmentalist on a government move. Lastly, the stakeholders have legal power. Legal power means they can sue the business firm if they feel they unfairly treated by the business firm. This happens when they sue a corporation for damages due to harm caused by the firm on the stakeholder. An example is a lawsuit by customers for damages
Business Ethics Focus on Merrill Lynch According to Laura Hartman and her co-writer, Joe Desjardins in the work entitled "Business Ethics: Decision Making for Personal Integrity & Social Responsibility" philosophical ethics may be clearly differentiated from theological ethics because theological ethics attempted to disseminate the well-being of an individual on a religious basis while the ethics of an individual's philosophy is such that provisions of justifications that can be applied to