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Also in terms of trade, it would be recommended for the company to conduct several analyses in order to identify the countries with the highest demand for batteries. India for instance, with its numerous technological applications and in its quality of hosting most of the global mobile telephones -- would be expected to be a large consumer of batteries and could as such constitute a desirable trading destination for Larson Inc.
elative to specialization, this aspect is more delicate, but it would be advisable for the company to become more specialized in the type of batteries most popular within the regions in which it operated. Considering a situation in which Larson Inc. became a batteries supplier in India, it would be advisable for them to specialize in mobile telephone batteries.
3. Evidence and Potential Changes in the ecommendations
The recommendations previously made are all based on the features observable at…
2010, the World Factbook -- China, Central Intelligence Agency, https://www.cia.gov/library/publications/the-world-factbook/geos/ch.html last accessed on May 21, 2010
The Outsourcing Institute, China Trends and Opportunities, http://www.outsourcing.com/china_trends/index.html last accessed on May 21, 2010
e-Business should focus on marketing through social networks and a website; through identifying potential suppliers. e can't sell food and drink online so the site is mainly for promotional purposes. The cafe's main metrics will be page impressions, Facebook fans, Twitter followers. Reaching out to customers using social media can help to inform them about promotions and new products. Social media is also the modern-day equivalent of knowing all of your customers by name (though that would not hurt either) as it helps to foster a relationship allowing for improved retention. A portal is not of much value for the employees. At best, they can check the schedule online. e don't have that many people working at Broadway, an expensive back end system for staff we see everyday is poor value. I would not use kiosks in the cafe. I would focus on a ifi network and let the customers…
QuickMBA. (2007). Porter's five forces. QuickMBA.com. Retrieved April 27, 2010 from http://www.quickmba.com/strategy/porter.shtml
QuickMBA. (2007). Porter's generic strategies. QuickMBA.com. Retrieved April 27, 2010 from http://www.quickmba.com/strategy/generic.shtml
Accounting Theories and usiness Decisions: The usiness World
Application of theories
Other cases of stakeholder theory application
Accounting theories and business decisions: The business world
There are many theories that explain the complexity of relationship between different groups of people directly and indirectly related to an organization. Two of the most comprehensive and most discussed theories are stakeholder theory and agency theory. oth the theories describe what the main purpose of each group is and how these groups ought to manage these relationships. In agency theory, it identified that agency relationship takes place when one or more than one principal, acting as owners, delegate their power to make decisions, to a person acting as their agent or steward. Thus, agency theory principally revolves around the relationship of principal and agent. While the principal delegates the authority or decision making power to agent (managers) to act in the best…
Alessi, Chirstopher. 2013. "Understanding the LIBOR Scandal." Council on Foreign Relations, Feb 6. Accessed August 23, 2013. http://www.cfr.org/united-kingdom/understanding-libor-scandal/p28729
Dean, Cornelia. 2007. "Executive on a mission: saving the planet." New York Times, May 22. Accessed August 23, 2013. http://www.nytimes.com/2007/05/22/science/earth/22ander.html?pagewanted=all&_r=0
Jensen, Michael C. 2010. "Value maximization, stakeholder theory, and the corporate objective function." Journal of applied corporate finance 22: 32-42.
Kanter, Rosabeth Moss. 2011. How great companies think differently. Harvard Business Review, November. Accessed August 24, 2013. http://hbr.org/2011/11/how-great-companies-think-differently/ar/2
The importance of strategic business decisions cannot be underestimated in today's fast-paced and competitive market. As economic times resemble recession like qualities, it is even more important that struggling companies find ways to stay competitive in these interesting and troublesome times. Sears Holdings Corporation resembles a troubled company that needs to make strong strategic maneuvers in order to survive and continue to be profitable within its many business interests. The purpose of this essay is to examine Sears holdings Corporatoin. In its current business environment. I will investigate the problems, examine this company's current strategic outlook, and offer recommendations that may help solve the many and troubling problems for this organization. Using the strategic background necessary to describe these qualities will also assist in contrasting between different choices that management often has to use in these types of situations.
According to Sears investor information, "2010 was another challenging year…
Jones, S. (2011). Sears holdings posts $170 million loss in 1st quarter. Chicago Tribune, May 19, 2011. Retrieved from http://www.chicagotribune.com/business/ct-biz-0520-sears - 20110519,0,4352753.story
Morrison, M. (2011). Sears expected to tap McGarryBowen as lead shop on $360 million account. Ad Agency News May 24, 2011. Retrieved from http://adage.com/article/agency-news/sears-expected-tap-mcgarrybowen-lead-ad - agency/227734/
Sears Holdings Corporation Investor Relations Website. Viewed on 5 June 2011. Retrieved from http://www.searsholdings.com/invest/#letter
Heuristics vs. Optimization
The optimization vs. heuristics argument often comes down to dollars and cents. To be sure, spending the time, money and other resources to come to the best overall number of goods/services to order and thus allow for optimal performance is best. However, there are many situations where doing so is not allowed for because of time constraints, overall opportunity for success and/or money. While there are benefits to using heuristics rather than optimization techniques, the preciseness of the outcome is more likely to be off-base unless the person making the approximation is rather sharp and observant about the factors that are known at the time the decision is made.
Making an informed and educated decision is always the right call when there is ample time and resources to make it worth the trouble and this presumes that the opportunity cost of making a more expedient decision…
Ethical and Moral Philosophies in Businesses
Ethical Moral Philosophies
Moral Philosophies Application to Business
According to Trevino and Nelson (2007), Philosophy describes a universal scheme of measures that people live by. From this definition, it follows that the moral philosophy defines specific rules or principles that people use to determine right and wrong. In essence, moral philosophy guides an individual's values and principles about moral and immoral issues (Trevino & Nelson, 2007). In business, moral philosophy will guide an individual in the evaluation of morally upright choices relating to their values and principles. Stansbury (2009) argue that moral philosophies are the ideal perspectives on matters that serve individuals with principles in an abstract form to facilitate their very social existence. The two moral philosophies considered in this paper are "Teleogy" and "elativism."
"Teleogy" is derived from the Greek word for purpose or end. In this philosophy, it is considered that…
Callahan, G. (2008). Economic analysis, moral philosophy, and public policy. The Independent Review. CA, USA: Oakland.
Stansbury, J. (2009). Reasoned Moral Agreement: Applying Discourse Ethics within Organizations. Business Ethics Quarterly, 19(1), 33-56.
Trevino, L.K., & Nelson, K.A. (2007). Managing business ethics: Straight talk about how to do it right (4th ed.). Hoboken, NJ: John Wiley & Sons.
Kurt Lewin's Model For Change
Judgment in managerial decision
Change is always a common thread that all businesses experience in spite of size, age, and industry. For a business or organization to start any successful change process, first there should be an understanding as to why such change has to take place.
According to Kurt Lewin model, before change takes place motivation for change must be generated. An individual should be assisted in re-examining numerous cherished assumptions about oneself as well as one's relations to others; and this is where change starts. Kurt Lewin's model for change put across three theory of change. The three stages are Unfreeze, Change, and Freeze (Refreeze).
This is the first stage of change according to Lewin. It involves preparing the organization to accept that there is need for change, in which the status quo will be broken down before building up another new…
Business Decision Analysis -- Cipla
Yusuf Hamied pioneered the Chemical, Industrial and Pharmaceutical Laboratories, which is more popularly known as Cipla, in India. The main function of Cipla was to reverse engineer some of the most demanded medications in the market and then reconfigure or re-synthesize them in a different manner (to avoid patent law suits) and sell them to the masses at affordable rates. The problem for Dr. Hamied, though, was a recent upgrade in patent laws that were meant to be applicable from 2005 in India. This new upgrade was being implemented on a global scale by the World Trade Organization (WTO) and was officially called Trade elated Aspects of Intellectual Property ights (TIPS) and it mainly required India to accept the patent laws with regards to pharmaceuticals and other intellectual inventions that had been standardized for over 2 decades. This would mean that a majority of the…
Deshpande, R. (2006). Cipla. Harvard Business School, President and Fellow Of Harvard College, 9-305-085.
business decision is usually undertaken by classifying the option with a good amount of revenue or the slightest cost. The Incremental analysis is seen to be the most promising mode in such processes due to its simple processes, this paper is going to demonstrate this simplicity.
Incremental analysis which is also known as marginal/disparity analysis is often undertaken in analyzing the monetary value in sequence appropriate for decision making. It brings about the pertinent revenues as well as costs of every option in addition to the predictable impact of the option on prospect proceeds and here decision making involves selecting among many options. The focal point of incremental analysis is known to scrutinize diverse factors among the options in relation to three main pointers known as revenue differences, benefits, cost differences as well as cost savings differences (Clifford Cobb, Ted Halstead and Jonathan owe 1998).
According to Terry Moore (2006),…
Abiteboul, s. Mchugh, J, Rys, M. Vassalos, V and winner, J.L (1998)
Incremental maintenance for materialized views over semi-structured data. In VLDB Retrieved September 6, 2013 from http://tods.acm.org/accepted/2013/FanIncremental.pdf
Clifford Cobb, Ted Halstead and Jonathan Rowe (1998), The Genuine Progress Indicator,
Redefining Progress. Retrieved on September 2, 2013 from www.rprogress.org.
Rational Business Decision
Poor Decision Making
One of the most difficult things to admit is when one has made a mistake. In retrospect, the decision not to promote Ms. X, given her sterling performance for our competitors, is one such a poor decision on my part.
However, I have learned from my mistake. I realize that I should not have rejected her request for a promotion, and the added responsibilities that such a position entailed out of hand.
At first, deploying what is known as Recognition Primed Decision Making, under the stressful situation of her immediate prompting, I bridled at the idea of paying her more, because I knew that the department was financially strapped.
However, she requested an audience with me. Still, I rejected her request again, deploying the Explanation-Based Model of decision making, when a decision maker such as myself "will attempt to create a full story from…
Khan, Larry. (2004) Decision Making Models. MIT Website. Retrieved on June 15, 2004 at http://www.geocities.com/SouthBeach/1285/decision.html
Scholl, Richard. (1999) Decision Making Models Summary. Retrieved on June 15, 2004 at http://www.cba.uri.edu/Scholl/Notes/Decision_Making_Models.htm
How forces in and outside of business firms are changing the management task, altering business operations, and modifying stakeholder expectations?
Business, particularly those heavily emphasizing technology, are constantly changing. In many instances these changes are occurring due to a combination of internal and external factors. These factors often modify stakeholder expectation because the fundamental business itself has shifted. A very dynamic force that is changing the management task is that of globalization. Globalization is particularly contentious because it has no geographic limits. Competition can now come from anywhere at anytime. As such, management must be cognizant of the changing dynamics prevailing in their respective industries. The auto industry, for example, has directly felt the impact on globalization and stakeholder expectations. The auto industry prior to foreign competition was characterized by large fixed asset costs, hefty legacy and pension obligations, and slow innovation. However, through globalization the Japanese's were able…
This distribution can be applied to multiple business situations even where data is distributed differently, because a normal distribution adopts the central limit theorem which suggests that no matter how a population is distributed, the distribution "of the means of random samples approaches a normal distribution for a large sample size" (ICMBA, 2002).
Business executives can use normal business distribution to create diversified asset portfolios, to calculate process variations within operations and even in human resources management to evaluate employee performance that is often considered normally distributed (ICMBA, 2002). Businesses benefits because normal distribution allows description of variables that would otherwise be considered random, and also allows a rough estimate of the actual distribution (ICMBA, 2002). Errors that usually arise using a bell curve are also often negligible and hence considered acceptable (ICMBA, 2002) thus executives can use normal distribution to solve problems with a high degree of accuracy in…
Arsham, H. (1994). "Statistical thinking for managerial decisions." January 1994,
National Science Foundation. 1, October 2005: http://home.ubalt.edu/ntsbarsh/Business-stat/opre504.htm
History for Dayton, Ohio February Temperatures." Weather Underground. Available:
The watch was designed to allow the wearer to log onto the Web. It had microchips capable of doing anything a laptop could do. So out it came. Problem was that you need a keyboard and monitor big enough to see and use. The Web watch, amazingly, had neither. You had to hook it up to a PC to use it! Swatch introduced it too soon due to its enthusiasm over the technology. Perhaps they should have procrastinated (Matlack, 2000).
Chrysler and General Motors. Their procrastination, greed and laziness in sticking to the big, expensive, gas-guzzlers when the foreign car market was moving elsewhere -- into the U.S. And profitability -- and the resultant loss of business, cancellation of dealerships, and layoffs of tens thousands of workers, has to be the worst business decision in modern history.
Matlack, C. (2000, September 11). ad timing for Swatch's web watch. Retrieved…
Matlack, C. (2000, September 11). Bad timing for Swatch's web watch. Retrieved July 1, 2009, from Business Week: http://www.businessweek.com/bwdaily/dnflash/sep2000/nf20000911_089.htm procrastinate. (2009). In Merriam-Webster Online Dictionary. Retrieved July 1, 2009, from http://www.merriam-webster.com/dictionary/procrastinate
Because the nature of economic and business phenomena is clearly statistical in nature and the need for a scientific approach is becoming more and more necessary, so statistical analysis has become an integral part of every aspect of theoretical and applied research.
The inter-dependence of economies and the development of global markets has introduced new levels and sources of competition for the businesses. Businesses face new levels of risk as the markets in which they operate become more open. Should they invest in new capacity to be able to compete more effectively? How exposed a position can they afford to take in their key markets? In short, how does a business cope with the risks inherent in the modern economy? When uncertainty is so high, the management has no choice but make the use of the statistics to justify their decisions. So statistical devices are a set of tools that…
In addition, we might ask ourselves if the richer nations have or not a greater responsibility as far as the research and development in the area of sustainable energy are concerned. (Reid, environmentalleader.com)
elieving that there are such energy sources or consumption policies which would allow the planet's resources to be maintained for a longer period, while making sure that all the nations are provided with a comfortable living is rather naive. Under these circumstances, it has been argued that doing the moral thing means choosing the least terrible solution. The problem is that this implies a relativistic evaluation of the matter which impacts the manner in which the moral principles are conceived.
efore stepping into a debate regarding the character of the moral principles, we may state that we agree with the opinions which state that there is no such thing as objective moral principles."Ethics can be seen as…
Aristotle, Nicomachean Ethics (Ross, W.D. Translator). Retrieved fromhttp://socserv.mcmaster.ca/econ/ugcm/3ll3/aristotle/Ethics.pdf September 30, 2010
Hartman Laura P. & Joe DesJardins. Business Ethics Decision Making for Personal integrity & Social Responsibility, Second Edition
In this case the affair did not have any apparent effect on the business. In fact during the time of the nearly two-year affair profits actually rose. However the whistle blower believed that the affair was morally wrong, particularly because the boss was married with children.
The whistleblower believed that ultimately the affair would be detrimental to the business so he blew the whistle. He believed that the affair was an indication that the boss was a poor decision maker and that this poor decision making would ultimately cause the business some harm. Some people believed that he was not obligated to tell of the affair. However, others argued that it would be just a matter of time before the decisions that he made in his private life would affect the manner in which the business was run. In this instance the idea of preventing harm encompassed a broad scope.…
Dahlsrud A. (2006) How Corporate Social Responsibility is
Defined: an Analysis of 37 Definitions. Corporate Social Responsibility and Environmental Management.
Davis, Michael. Some Paradoxes of Whistle Blowing. Business and Professional Ethics Journal. 15 (1)
McWilliams A., Siegel D.S. Wright P.M. (2005) Corporate Social Responsibility: Strategic Implications. Retrieved November 24 from; http://www.economics.rpi.edu/workingpapers/rpi0506.pdf
One set of concepts from each area was utilized to explain how the situation at Grand Bois may have come about. The end goal of the authors was to "provide business practitioners, ethics teachers, and readers interested in corporate conduct with insights useful in understanding why managers may act the way they do."
It could be argued, according to Hamilton and Berken (2005), that Exxon managers had made a sound business judgment, based on facts that were not known, at the time. The industry still contends that the majority of exploration and production waste contains no harmful compounds, and that for this reason the disposal techniques that are used at the Grand Bois facility were not only cost effective, but also environmentally safe.
Just because the exemption of this waste for hazardous materials was brought about by political lobbying does not mean that it is not scientifically or justified.
Beschorner, T. (2006). Ethical theory and business practices: The case of discourse ethics. Journal of Business Ethics, 66. Retrieved December 1, 2006, from ProQuest database.
Bowen, M. & Power, F. (1993 Apr). The moral manager: Communicative ethics and the Exxon Valdez disaster. Business Ethics, 3(2). Retrieved December 1, 2006, from Business Source Complete database.
Call for an extra Exxon Valdex payout. (2002). Disaster Prevention and Management, 11(3). Retrieved December 1, 2006, from ProQuest database.
Carson, S. (2006 Mar). Gert's moral theory and its application to bioethics cases. Kennedy Institute of Ethics Journal, 16(1). Retrieved December 1, 2006, from ProQuest database.
CS programs, according to Berenbeim (2009) must be integrated with the company's business ethics, and that companies must have their own "corporate ethics brand." This call for a corporate ethics brand stemmed from the fact that while CS programs are developed to benefit and improve the business's community, it is also primarily a program geared to invest in "public capital" to "enhance the value" of businesses with respect to the community. In the same way that the community is dependent on companies for employment and their services/products, companies are also dependent on the community to ensure that their operations will continue through a more than sufficient manpower supply and continued support for their products/services, hence, a holistic view of the corporate ethics brand.
Berenbeim, . (2009). "Defining the corporate ethics brand." Ethics World Website. Available at: http://www.ethicsworld.org/ethicsandemployees/viewsandanalysis.php#def
"Business ethics." (2009). London South East Website. Available at: http://www.lse.co.uk/financeglossary.asp?searchTerm=business&iArticleID=2420&definition=business_ethics.
Berenbeim, R. (2009). "Defining the corporate ethics brand." Ethics World Website. Available at: http://www.ethicsworld.org/ethicsandemployees/viewsandanalysis.php#def
"Business ethics." (2009). London South East Website. Available at: http://www.lse.co.uk/financeglossary.asp?searchTerm=business&iArticleID=2420&definition=business_ethics .
he managers should also develop plans that refer to the human resources that must be included in their projects. his is because these projects usually require that certain experts are hired and involved in the project team. he effects of the projects must be carefully evaluated and presented to Childs.
3. hese projects are likely to provide important effects for the company, but they also require important resources. herefore, it is recommended that Childs takes these projects into consideration by allocating different levels of financial resources to their managers. However, the most important sum should be allocated to yler's project. his is because increasing the efficiency of the company's production flow is able to provide important effects on medium term and on long-term. his could help the company significantly improve its position on the market.
he project developed by Julie should also benefit from certain resources. his is because the…
The project developed by Julie should also benefit from certain resources. This is because the company has already invested in it and other companies seem to develop similar projects, which means the strategy is correct. Therefore, with higher levels of resources involved in the project, its objectives could be reached easier. Childs should also invest in purchasing computers by investing in the project developed by Jeff. It is important that the company's activity is supported by technology. This is because most companies make important efforts in investing in technological developments in order to improve their performance. The company should also invest in the marketing activity managed by Joe. The company's performance on the market can be significantly influenced by developing and implementing innovative marketing strategies. This would allow the company to increase its sales and to improve its market position.
1. Turbit, N. (2011). Project Risk Management. Retrieved May 7, 2011 from http://www.projectperfect.com.au/info_risk_mgmt.php .
So doing the right thing and being an ethical company would be the best choice for Sports Products, Inc. To make. Making the right choice will in the end will help the company to be more successful.
D. Does the firm appear to have an effective corporate governance structure?
No, it does not appear that Sports Products, Inc. has an effective governance structure. If the stakeholders are the owners of the corporation and have the power to elect a board of directors to run the company, then the company should be running in the shareholders' best interests. During the 20 years that this company has never paid out a dividend to its shareholders. This raises a large red flag that points to the mismanagement that is going on.
The profits of the company are increasing while the stock prices continue to fall. This leads one to question whether the stakeholders…
While some entrepreneurs have a valid reason and perhaps valid opportunities to expand their businesses, such a move could have its own unique pitfalls if not well executed. Some of the things to watch out for when expanding a business entity include, but they are not limited to, the most appropriate business form to embrace, the best financing avenues to explore, and the most workable long-term strategy to implement.
There are a number of steps that Kelly should take to prioritize her business growth strategy. One of these, according to Liabotis (2007) is implementing a valid customer growth strategy. Some of the customer growth strategies that Liabotis mentions include, core business driven growth, the sub-segmentation of customers, and further exploitation of adjacent opportunities. Kelly also ought to enhance her market knowledge. This she could do by sourcing for insight from both existing and target clients and familiarizing herself…
Dahl, D. (2010). How to Develop a Business Growth Strategy. Retrieved 19th July 2015, from http://www.inc.com/guides/small-business-growth-strategies.html
Liabotis, B. (2007). Three Strategies for Achieving and Sustaining Growth. Retrieved 19th July 2015, from http://iveybusinessjournal.com/publication/three-strategies-for-achieving-and-sustaining-growth/
The government has rather low environmental expectations. In fact, the consultant found that they are about as lenient as the Mexican restrictions, though the Philippines presents no public relations nightmare as protestors are not rallying against health concerns, as they were in Mexico.
Although the conditions in the Philippines may seem even more ready for outsourcing then the conditions in Mexico, the ethical costs of operating the company in the country are once again too high. Like the situation in Mexico, workers in the Philippines may work for lower wages than workers in the United States, but owners are not being provided with the same level of skill that they would be if continuing to operate the factory in the United States. Because the factory workers would consist mainly of underfed adults and impoverished children, the company would be lucky if workers managed to produce sufficient amounts of products throughout…
Esselaar, Jeanne. (2002). The Debate over Outsourcing in South Africa: Evidence from a case study. Proceedings from Development Policy Research Unit Conference '02. Muldersdrift, Johannesburg.
Casale, Frank J. (2006). The Outsourcing Institute: Mexico Trends & Opportunities.
Retrieved June 1, 2008, from, http://www.outsourcing.com/mexico_trends/mexico.html
Roberts, Russell (2000). The Choice. New Jersey: Prentice Hall.
Drucker's approach to business ethics revolves around the belief that business people are rational actors who, as agents for the shareholders, will evaluate all decisions on a cost-benefit basis. His view of business builds upon and only somewhat contrasts with that of Milton Friedman, who in 1971 famously espoused that the "social responsibility of business is to increase its profits." This paper will analyze these two views, showing how they are similar and how they are different from one another.
Although Friedman's editorial has been distilled into its pithy headline, his view on the subject of business ethics was complex. Friedman viewed business managers -- executives -- under the agency theory whereby they would be accountable only to the shareholders. Under this view, managers would and should only focus on enhancing shareholder wealth as the underlying philosophy of their actions. Friedman allowed, however, that the actions under this…
Friedman, M. (1970). The social responsibility of business is to increase its profits. New York Times Magazine. Retrieved October 31, 2010 from http://www.colorado.edu/studentgroups/libertarians/issues/friedman-soc-resp-business.html
Drucker, P. (1981). Can there be business ethics? The Public Interest (Spring, 1981).
For most of us, dealing with money has been altered by technology. Most of us use money out of ATM's or we pay bills with online banking just as easily as we change channels on a television. Obviously printing presses and paper cutters create our physical money, but how is the idea of money really created? Do banks and laws really make the idea of money? This essay evaluates the efforts of the Federal eserve System, often called the Fed, in terms of regulating the money creation of financial institutions?
Congress passed the Federal eserve Act near Christmas in 1913 and that established the Federal eserve Banks and also created a more elastic currency and established new legal controls over the commercial banking industry. The Federal eserve is the central bank of the United States and is made up of 12 regional Federal eserve banks that are overseen…
Cisco Systems. (2009)." E-marketing." Retrieved on November 23, 2009, from http://www.cisco.com/ .
FED. (2009). "Structure: Responsibilities." Retrieved on November 23, 2009, from http://www.federalreserve.gov/pubs/frseries/frseri.htm
Mishkin, Frederic S.. (2002). "The Economics of Money, Banking, and Financial Markets." 6th ed.. New York: Addison-Wesley Publishing.
Using this data set we can calculate mean, median, mode, and standard deviation for this data set over last 20 years:
Mean can be found according to the following formula:
So mean February temperature equals to 33.825 F
Median of the data is the middle score after data has been set in order, so February temperature median equals to 33.7 F
Mode of the data is the value from data set which occurs most often. The mode of temperature sat data is 32.9 F
Standard deviation is a measure of the spread of data set values. It can be calculated by the following formula:
Standard deviation of temperature data set for February equals to 3,823181 F. The value of standard deviation witnesses that winter climate in New Jersey is very moderate without any considerable temperature jumps. et, we can mark that there is a current warming trend as the difference…
February averages for Trenton, NJ (1988-2007)
Business Course Retrospective
Comment on how journaling activities helped you recognize the real or potential impact of stakeholder biases as well as your own biases. How do biases or differing perspectives influence the media, public opinion, and decision-making in business and society? Use example from your activities to support your commentary.
The Journaling process provided direct examples of individual bias and of the degree to which pre-existing beliefs and perception color the perceptions of individuals. For example, journaling revealed that people with predominantly conservative political views maintain fundamental beliefs that differ substantially from the views maintained by people with fundamentally liberal points-of-view. I learned that one aspect of modern media consumption is that people tend to seek out editorial opinions that are consistent with the ones they already espouse and that only reinforce them. They do not seek out objective opinions and critical review of the reports they consume and…
S. (Krishna, Kelleher, Stahlberg, 2007). The second most critical ethical dilemma impacting healthcare insurance providers continues to be ratings of physicians and the assessment of their skill sets over time (Labig, 2009). As healthcare providers pay fees specifically on the performance levels of physicians their levels of performance need to be accurately and ethically assessed (Labig, 2009). The argument many patients have is that given the very high level of variation in performance of healthcare providers, often the premiums paid do not correspond to the level of service given. This is one of the arguments against nationalized healthcare as there are many who feel that provider quality will not be enforced and quality of care will suffer. The third most pressing ethical issue from a healthcare provider's standpoint is the reliance on metrics of performance, or balanced scorecards that can quantify the level of compliance over time for a given…
Susan Dorr Goold (1998). Money and trust: Relationships between patients, physicians, and health plans. Journal of Health Politics, Policy and Law, 23(4), 687-695.
Ana Smith Iltis. (2001). Organizational Ethics and Institutional Integrity. HEC Forum, 13(4), 317-328.
Rajeev Krishna, Kelly Kelleher, & Eric Stahlberg. (2007). Patient Confidentiality in the Research Use of Clinical Medical Databases. American Journal of Public Health, 97(4), 654-8
Labig, C. (2009). Bad Measures Don't Make Good Medicine: The Ethical Implications of Unreliable and Invalid Physician Performance Measures. Journal of Business Ethics, 88(2), 287-295.
In the case of Lenovo, it seems extremely important (and perceptive) to appoint an American CEO and adopt English as the corporate language. Even though they are attempting to take over the global PC market, IBM is a long-standing American company, and to quickly turn it into a foreign company would alienate millions of Americans, and quite possibly doom the entire operation due to bad press and bad feelings. Keeping the American CEO and moving to New York showed they took IBM and its products seriously, and knew that IBM had much more global recognition and appreciation than Lenovo had. They knew that they could make a statement by retaining the English, American components of the business, and they did. It was simply a very wise business decision that made perfect marketing and P sense.
Swinton, Captain D.E. "The Defense of Duffer's Drift." Command and General Staff College. 2008.…
Swinton, Captain D.E. "The Defense of Duffer's Drift." Command and General Staff College. 2008. 16 Aug. 2008. http://www-cgsc.army.mil/carl/resources/csi/Swinton/Swinton.asp
In 1991, Ben Mezrich graduated magna cum laude from Harvard. Since passing out he has written seven books. The combined printing of all his books in nine languages is a staggering more than a million copies. Among his books are the New York Times best seller and blockbuster 'Bringing down the House: The True Story of Six MIT Kids Who Took Vegas for Millions'. This book is being made into a major motion picture. The producer is the actor Kevin Spacey and he is doing the production under the banner of MGM. The Ugly Americans is the eight book of Ben Mezrich and is his second nonfiction book. (Author Tracker)
One can easily understand how this book gets to be selected for being made into a major motion picture. It tells the story of a man attaining the American dream in Japan; The intrigue of forbidden love…
Author Tracker. Retrieved from http://www.authortracker.com/author.asp?a=authorid& b=6651 Accessed on 11/13/2004.
Carkonen, Shawn. 'Editorial Reviews' -- Amazon.com Retrieved from http://www.Amazon.com/gp/product/product-description/006057500X Accessed on 11/13/2004.
Casper. Ugly Americans. 3 August, 2004. Retrieved from http://blogcritics.org/archives/2004/08/03/203034.php Accessed on 11/13/2004.
Matthew, Ann Mary. When Yen Go to Your Head. Retrieved from http://www.dartmouth.edu/~thedc/review%207.htm Accessed on 11/13/2004.
eview of Making a Business Decision
Decision making is an unavoidable part of business. Smaller decisions where there is a lower perceived cost associated with making the wrong decision are psychologically easer compared to important decisions where a wrong choice could incur high costs. A recent example of a decision involved selecting an employee for an internal promotion. The position of team leader had become available for one of following the resignation of the incumbent team leader. The position was important for the team, and the department, as the team leader is key in managing the team from a practical perspective and ensuring that targets for the team would be met, as well as playing an important motivational role. The performance of the department was reliant on performance of each team, so the appointment was also important for the department I managed. The decision was important from the perspective…
Tschappeler, Roman; Krogerus, Mikael, (2011), The Decision Book: Fifty Models for Strategic Thinking, Profile Books
Yet, given the situation in which this decision cannot be overruled, it is necessary, under the libertarianism theory, to allow the same products to be distributed to other regions, without the imposition of any constraints.
3. Export commodities which have the potential for misuse. pecifically, did Nestle act irresponsibly in marketing infant formula to the third world?
The answer for this question is again a strong No, as the state should not become involved in market operations. Under the libertarianism theory, the role of the state is minimal and the political field is not to become involved in business decisions. Whilst the decision is in fact disputable in ethical terms, according to libertarianism, every consumption decision is to be made by individuals and the distributors and manufacturers should only be constrained by their clients, not by political regulations.
Machan, T.R., 2006, Libertarianism defended, Ashgate Publishing Ltd.,…
Machan, T.R., 2006, Libertarianism defended, Ashgate Publishing Ltd., ISBN 0754652165
.. Of key people, but this material is rarely organized in a fashion that allows for its transmission to other. Employee turnover can negatively affect firm performance through loss of social capital. We expand this by taking into account the tacit knowledge that firms lose when employees leave" (p. 50). Although it is difficult to quantify the value of the tacit knowledge lost when downsizing takes place, it is reasonable to conclude that a company may be shooting itself in the foot by intentionally terminating qualified and knowledgeable employees who represent a potential asset rather than the liability reflected in the downsizing approach.
The research showed that the term "downsizing" as well as the more palatable term, "rightsizing," refers to the practice of companies terminating employees in an effort to become more streamlined and profitable. These terms can also refer to the elimination of redundant positions, temporary layoffs, allowing…
Bogle, J.C. (2007). Democracy in corporate America. Daedalus, 136(3), 24-25.
Borman, W.C., Hanson, M.A. & Hedge, J.W. (1997). Personnel selection. Annual Review of Psychology, 48, 299.
Capozzoli, T.K. (2003). The organizational model for workplace security. Vanderbilt Journal of Transnational Law, 36(2), 781-782.
Custard, B. (2007). Do you have career insurance? Journal of Environmental Health, 69(9), 4-5.
business environment cause changes in supply and demand? Cite and explain at least two examples from the simulation.
Changes in the business environment increase or decrease supply and demand under different circumstances and assumptions. If the change in the business environment aims at reducing the cost of the product or service under demand and supply study, it has the influence of increasing the quantity demanded (Mungui-Pupazan, 2009). This entails that the quantity of commodities consumer is willing and able to pay for increases with a decrease in the cost of the products or services available at their disposal. Quantity demanded would exert much pressure on the few commodities if a producer is willing and able to supply in order to much the needs of the market. This forces the price to increase in order to reduce the shortage in the market. From the simulation, GoodLife reduces the rental rates in…
An Empirical Estimation of the Factors Affecting Demand and Supply of Poultry Meat. (2010). Pakistan Veterinary Journal, 30(3), 172-174.
Baumol, W.J., & Blinder, A.S. (2012). Economics: Principles and policy. Mason, OH: South- Western Cengage Learning.
Black, J., Hashimzade, N., & Myles, G.D. (2009). A dictionary of economics. Oxford: Oxford University Press.
Gans, J. (2011). Principles of economics. South Melbourne, Vic: Cengage Learning.
Decision Analysis System Modeling
"DATA DECISION ANALYSIS SYSTEM MODELING USING SPEADSHEETS"
"Data Decision Analysis System Modeling Using Spreadsheets."
Spreadsheet is one of the most popular software packages on the planet. Daily, million of business people, students and individuals use spreadsheet program to build models to assist in solving decision problems they face on their work activities. Thus, employers generally look for individuals having experience and skills with spreadsheets. Typically, spreadsheets assist in developing varieties of management techniques in modeling environment. More importantly, spreadsheets assist in developing models and make decision within a business environment.
Within the present contemporary business environment, many business managers face daunting tasks to make effective decisions. With the fast-paced and dynamic changes within a competitive business environment, business people are often faced with extremely complex business alternatives. Evaluation of the alternatives and choosing the best option from these alternatives has become a daunting task…
Evans, M.H. (2010). Course 3: Capital Budgeting Analysis. Continuing Professional Education
Lin, G.C.I. & Nagalingam, S.V. (2000). CIM justification and optimization. London: Taylor & Francis.
Ragsdale, C.T.(2010). Decision Analysis and Spreadsheet Modeling. A Practical Introduction to Management Science (4th edition). Cengage Learning.
business, the CEO plays an important role in decision making. One factor that the CEO uses for their decision making processes is commonly refered to as environmental scanning. Environmental scanning is the strategy of determining the overall economic environment of a business in order to make dynamic decisions and ensure continuous growth. his is one role that can only be done by the CEO who is privy to information from all departemnts and angles of the business.
here are many factors that go into proper environmental scanning. For instance, the CEO must have pertinent network ties, both inside and outside the company. hese ties keep the CEO grounded in a realistic view of the company and its current financial state. Network ties outside of the industry are especially important because those ties have an outside perspective and can assist the CEO in seeing all the extra-industry and socioeconomic trends.
The question being raised in this study is which type of institutional ownership is positive and which is negative to the overall success of a company. The study revealed that insurance and banks have a negative effect on corporate political stratagies. The reason was that those agencies are very conservative and seek to ensure that only the most conservative decisions are made within the company. On the other hand, there was no corrolation found between other insider groups inculding employees, as some would vote against decisions and risks, while others were infavor of those risks.
Overall, the study confirmed that there is a link between a company's owners and the desire to appear a certain way to the media. It is always risky portraying the company to the public eye, so conservative investors tended to shy away from such a risk. However, the more risk-taking players within the businesses would often seek this outside reinforcement of business decisions and often enjoy the resulting success.
Ozer, M., Oneonta, S., Alakent, E. (2010). Institutional Ownership and Corporate Political Stratagies: Does Heterogeniety of Institutional Owners Matter? Strategic Management, 4(1), 18-29.
Uses of visualization in business analytics include market segmentation analysis and factor analysis to define new audience segments based on psychographics. Visualization is often also used for pricing analysis to determine how elasticity can vary by product and area being sold into.
6. What are the steps involved in effective decision making and how can business intelligence assist in helping executive and managers make better strategic and operational decisions?
Effective decision making inherently must take into account many factors that range from the highly quantifiable to the qualitative if risk is to be minimized and the best possible alternative chosen. BI-based applications, tools and technologies have been designed specifically with these needs in mind of business decision makers. The steps involved in effective decision making include problem rationalization or the defining of the problem parameters, the definition of boundary conditions of the decision, selection of the alternative, execution of the…
Baker, R. (2009). Pricing on Purpose: How to Implement Value Pricing in Your Firm. Journal of Accountancy, 207(6), 62-67,12
Jordan, J., & Ellen, C. (2009). Business need, data and business intelligence. Journal of Digital Asset Management, 5(1), 10-20.
Liker, J (2003). The Toyota Way. New York, NY: McGraw-Hill .
Soumendra Mohanty. (2008). Measuring the Value of Intelligence in Business Intelligence. DM Review, 18(12), 20.
business section a newspaper a business magazine organizations change. For articles answer questions: 1. For article, rationale presented change? hich external internal pressures considered chapter referred ? Are additional pressures specifically considered chapter? (hint: Tables 3.
Change rationales: A comparison of recent cases
In the article, "Operating profit surges as Bank of America slims down," the fortunes of one of the largest banks in the world is reported to have recovered after the negative impact of the 2008 mortgage crisis through effective change management in the form of organizational cost-cutting. BoA has "slashed staff, combined business units and dialed back its massive mortgage business. These steps helped the bank post $3.6 billion in operating profit during the first three months of the year -- a 40% surge -- even as revenue fell 2.5%" (Reckard 2012). BoA has been subject to a great deal of negative press in recent years, based…
Hsu, Tiffany. "Starbucks to drop beetle juice from the menu." LA Times. 20 Apr 2012. [20 April
2012]. Retrieved: http://www.latimes.com/business/la-fi-starbucks-bug-color-20120420,0,6268561.story
Hirsch, Jerry. "In reversal, Ford brags it has smallest engines in the industry." LA Times. 19 Apr
2012. [20 April 2012]. Retrieved: http://www.latimes.com/business/money/la-fi-mo-ford-ecoboost-20120418,0,5046327.story
corporate form of "the business corporation," its structure, prerogatives, and procedures, leads to ethical problems arising, or being difficult to resolve. Ethics in business has always seemed to be a struggle, because the main purpose of a business is to turn a profit, and for some businesspeople, that may be at any cost. However, after scandals such as Enron, WorldCom, and Bernie Madoff, among others, business ethics has emerged as an important part of a healthy business environment. The smart business corporation knows ethics and corporate social responsibility (CS) are an important aspect of their daily operations, and yet, businesses still seem to overlook that ideal at the most inopportune times.
The Business Corporation
What is a business corporation? To begin a discussion on ethics, it is important to first define a business corporation. A business corporation is a company doing business that enjoys certain legal protections as a corporation.…
Bomann-Larsen, Lene and Oddny Wiggen, eds. (2004). Responsibility in world business: Managing harmful side-effects of corporate activity. Tokyo: United Nations University Press.
Dilenschneider, R.L. & Salak, J. (2003) Do ethical communicators finish first? Walking the straight and narrow information path. [Online]. Available at: http://findarticles.com/p/articles/mi_m4422/is_4_20/ai_103672846/pg_2/?tag=content;col1 [Accessed 17 June 2009].
Duska, R.F. (2006). Contemporary reflections on business ethics. New York: Springer.
Grace, Damian. 2006. For business ethics. Australian Journal of Management 31, no. 2: 371+.
In addition, individuals have ethical decisions when it comes to whistleblowing, because very often, when they bring attention to a problem or concern within an organization, they pay the ultimate price - they lose their jobs, or lose the respect of their peers and management. In this, the organization is to blame, and it indicates the ethics of the organization do not encourage truth and doing the right thing. A good case in point of whistleblowing that was ignored is the case of the Challenger space shuttle, which blew up in 1986. Engineers had called attention to the problem with the o-rings that caused the explosion, but NASA ignored their concerns and it resulted in a disaster (Cadbury, 2002, p. 108-116). There are many other examples of this kind of unethical behavior on the part of organizations, and it results in individuals who may be afraid to do the right…
Berlau, J., & Spun, B. (2002, March 18). Is big business ethically bankrupt? Insight on the News, 18, 16+.
Cadbury, a. (2002). Chapter 1 Business dilemmas. In Case histories in business ethics, Megone, C. & Robinson, S.J. (Eds.) (pp. 9-22). London: Routledge.
Editors. (2008). Business ethics: Definition. Retrieved 14 June 2008 from the Answers.com Web site: http://www.answers.com/topic/business-ethics?cat=biz-fin .
Editors. (2008). Ethics resource center. Retrieved 14 June 2008 from the Ethics.org Web site: http://www.ethics.org/ .
business people study ethics. What are the possible benefits to companies, individuals, society and the world of business?
According to a gallop poll administered by the Better Business Bureau in 2008, consumer trust in business professionals is on the decline. Of the consumer populous polled, only 42% expressed trust in banks and financial institutions, representing a 6% decline in trust since 2007, while only 24% responded positively toward contractors and service professionals, representing a decline in trust of 4%. Of the 14 industries polled, trust was lowest in real estate brokers and auto dealers, with a positive trust response of only 13%, representing a 3% decline in trust (Farrell, Fraedrich and Farrell, 2009). In particular, trust levels declined rapidly as a result of public scandals which "cost many companies their emotional appeal, the strongest driver of reputation" (Ferrell et al., 2009).
According to ethics professor Rick Garlikov, the reputation of…
Kohlberg's model of ethical development varies from previous models insofar as development is not the product of maturation or socialization alone, but rather the product of one's cognitive contemplation of moral problems (Cain, 1985). Kohlberg's model coincides with character development specialist Thomas I. White's assertion that ethical character development is the result of ethical reasoning as opposed to a focus on "being a good person" (Ferrell et al., 2009). Studying ethics and contemplating ethical frameworks, therefore, is imperative to the development of an ethical character and the ability make ethically informed decisions.
Crain, W.C. (1985). Theories of Development. Prentice-Hall. pp. 118-136. Retrieved Jan. 31, 2011 from http://faculty.plts.edu/gpence/html/kohlberg.htm
Ferrell, O.C., Fraedrich, J. & Ferrell, L. (2009). Business ethics: ethical decision making and cases. (7th ed.) Mason: South-Western Cenage Learning.
instant, accurate communication -- the days of missed phone calls and letters which had to be sent via certified mail or otherwise tracked are long gone. Today, electronic media can be secure, instant, and quickly accessible and verifiable, making them the most viable means of communication within and without an organization. In the corporate community, the speed of information is almost as important, if not equally so, to its accuracy -- minutes, even seconds, can mean losing an edge to a competitor or missing out on a blockbuster deal.
Two different, and yet very compatible, means of communication in this new electronic era are intranets and extranets. An intranet is defined as "a local network that covers the premises of one Firm/Organisation with the objective of speeding up working procedures and production process." (Trieste 2004). An extranet, on the other hand, is the connection, over public network, of two or…
Lawton, George. Extranets: Next Steps for the Internet. Computer, 30(5), May 1997, p. 17
Phelan, Sarah, 2003. "A Paperless Success Story," Journal of Accountancy, Oct2003, Vol. 196, Issue 4
Trieste School Lecture Notes Online, published 2-24-04. Accessed 9/09/05 at http://wireless.ictp.trieste.it/school_2004/lectures/repici/repici_lecture1.pdf.
Decision Analysis System
Computers have brought a great change in our lives. A software program called spreadsheet turns the computer screen into a paper sheet one is working on. This program saves time by reducing the errors and repetitions of calculations. It is commonly used in physics labs in order to save time by getting accurate results and accumulating proper data in labs. Spreadsheets have traditionally been used by accountants for the purpose of bookkeeping and budgeting, when actually they can prove to be amazing tools for engineers and scientists as well. Using a spreadsheet, entered raw data could be manipulated and plotted through few easy commands. Furthermore, due to their built-in capability to easily plot data, spreadsheets prove to be especially useful (Karmakar et al., 2007).
Initially introduced in the corporate world in late 1970s and the early 1980s, it proved to be an immediate success. The usefulness, power…
Karmakar, S., C. Lagu, J. Agnew and H. Landry (2007) Integrated decision support system (DSS) for manure management: a review and perspective. Computers and Electronics in Agriculture, 57, 190 -- 201.
Kong, G., D.L. Xu, X. Liu and J.B. Yang. (2009) Applying a belief rule-base inference methodology to a guideline-based clinical decision support system. Expert Systems, 26, 391 -- 408.
Ragsdale, C.T., K.P. Scheibe and M.A. Trick (2008) Fashioning fair foursomes for the fairway (using a spreadsheet-based DSS as the driver). Decision Support Systems, 45, 997 -- 1006.
eref, Michelle M.H.; Ahuja, Ravindra K.; and Winston, Wayne L. (2007). Developing spreadsheet-based decision support systems: using Excel and VBA. Dynamic Ideas.
Therefore to form a basis of good decision making business people should be able to understand how statistics can be applied in the description of markets, advertising development, price setting and how they can best respond to the consumer demands that are often changing (Petryni, 2010).
Statistics can be used in various situations within a business for instances; incase a business wants to venture into new markets statistics can be used to inform the business decisions in the definition of target consumers. The statistical analysis of the trends of consumers, purchasing powers and preferences can be useful in making decisions before venturing into a particular business.
Another situation can be where decisions on the branding and advertising products or services the statistical analysis may aid in the definition of the consumers who are targeted, provide information about the industry one wants to venture in and description of the buying trends.…
Petryni, M. (2010). How Is Statistical Research Used in Business Decisions? Retrieved January 17, 2013 from http://www.ehow.com/info_8000423_statistical-research-used-business-decisions.html
Calkins, K, .G. (2005).Applied Statistics. Retrieved January 17, 2013 from http://www.andrews.edu/~calkins/math/edrm611/edrm01.htm
The control is exercised by at regular board of directors' and annual stockholders' meetings. Records have to be kept to document decisions that are made by the board of directors. In small, closely held corporations operations are more informal, but record-keeping is not eliminated entirely. Officers of a corporation can be liable to stockholders for improper actions. Liability is generally limited to stock ownership, except where fraud is involved (ibid).
The most important attribute of a corporation is that shareholders in the company are not liable for corporate debts. This is the probably the most important attribute of a corporation. In contrast, in a sole proprietorship or a partnership, the owners are personally responsible for all of the business debts. If the assets found in the sole proprietorship or partnership are not adequate to satisfy the debt, creditors can go after each owner's personal assets, such as their bank account,…
Gerstein, J. "What Are the Advantages and Disadvantages of Sole Proprietorship, Partnership and Corporation." 247advisor.com. 24/7 Advisor, n.d. Web. 20 Oct 2011.
"Incorporation." Legalzoom.com. Legalzoom, 2011. Web. 20 Oct 2011.
Code of Conduct Policy Recommendations
It has been a pleasure working with Tom Tramlin, the CEO of UWEAR and our new colleagues at PALEDENIM. During the merger process, we have had the opportunity to get to know each other better. This has allowed us to create a new Code of Conduct for all employees after the merger.
A Code of Conduct is designed to create and maintain an ethical organizational culture. Standardizing organizational behavior in a Code of Conduct helps to create social norms that govern business operations, which will tremendously help smooth out the kinks of the merger process. The merger is occurring between one larger and one smaller company, and a Code of Conduct will help to establish some ground rules for the new company culture. The following situations are covered in the Code of Conduct, based on my observations.
Situation 1: Conducting Business on Neutral Ground
402). Moreover, Daly and ee (2006) suggest that the probability proportionate to size method is particularly useful for sampling educational institutions for ensuring that a representative sampling is achieved. Therefore, Ms. Smith would assign larger colleges with higher enrollment rates a greater chance of being selected for her visits and correspondingly lower chances to smaller colleges with lower enrollments. In order to reduce the uncertainty involved and maximize the chances of each student having an equal opportunity of being selected for interview, this step is achieved by adjusting the probability of selecting a college during the initial stages of college selection based on the proportion of all students in the general population who are enrolled at the college. As a result, a college that had 40,000 students enrolled in its computer science program would be 100 times more likely to be selected by Ms. Smith than a smaller college with…
Becker, S. & Bryman, A. (2004). Understanding research for social policy and practice: Themes, methods and approaches. Bristol, England: Policy Press.
Daly, C.J. & Dee, J.R. (2006). Greener pastures: Faculty turnover intent in urban public universities. Journal of Higher Education, 77(5), 776-777.
Neuman, W.L. (2003). Social research methods: Qualitative and quantitative approaches, 5th ed. New York: Allyn & Bacon.
The issue is that the purchasing manager is uncertain about what to do. There is an intimation that the purchasing manager should purchase from Tabitha's, regardless of whether the bid is competitive, but that has not been made clear.
There are two reasons why this is an issue. The first is that the CEO has not been 100% clear on this issue. If he is ordering the purchasing manager to do a deal with Tabitha's, then he has not stated that explicitly. As a result, there is ambiguity here. The second reason this is an issue is because there is uncertainty as to whether Tabitha's can handle the order. If that was not in doubt, then there would be little reason to worry -- the purchasing manager is free to switch suppliers for any reason at the end of a contract. Only the ambiguity with respect to the…
Crisis Management in VW’s ‘Dieselgate’ Scandal
Trust is the most important factor in the success of any organization. This trust extends to all levels of stakeholders. If customers feel that they cannot trust the company for any reason, they will not purchase their products. Stakeholders have to trust that the organization will make sound business decisions to keep profits high and manage value. This is becoming even more prominent in the global economy when people of different cultures must interact with each other. The most important factor is that customers and other shareholders have to be able to believe the company when they are told that something is true. This analysis explores the VW ‘dieselgate’ incident involving Volkswagen AG a.k.a. Volkswagen Group, commonly referred to as VW.
Background of the Case
Consumers on a global basis are becoming more environmentally conscious and sensitive to the emissions of their vehicle. Features…
Policy Case Study
The author of this report has been asked to act as a consultant for a major security consulting firm. Contained within this report will be several topics that were requested to be covered and thus they will be with the appropriate amount of vigor and detail. The first topic will be a brief overview of the overall legal environment for non-information technology managers when it comes to things like constitutional law, administrative law, civil law, criminal law, due care, due diligence and overall fiduciary duty. Another major topic that will be covered is the applicable information security laws and practices. Next up will be the impact of policies, regulations and laws when it comes to the information security sphere. The next topic, and a very controversial one in the eyes of many, is the Central Intelligence Agency including is practices, what has been in the news about…
ABA. (2015). What Are the Limits of Employee Privacy? | Solo, Small Firm and General
Practice Division. Americanbar.org. Retrieved 10 June 2015, from http://www.americanbar.org/publications/gp_solo/2012/november_december2012pr
DHS. (2004). Information Security Governance - A Call To Action. Department of Homeland Security. Retrieved 10 June 2015, from https://www.dhs.gov/sites/default/files/publications/csd-informationsecuritygovernance-acalltoaction-2004.pdf
The Case of Tobacco Industry
Business ethics can be defined as the art, system, method and the discipline that is applied to along with ethical principles to solve complex business issues and dilemmas. It defines the actions that are taken that tries to reach a balance between the organization achieving its business and economic obligations and social obligations (Ferrell & Ferrell, 2009). For this paper, we consider the case of the tobacco industry and the role of ethics in the industry. The important ethical issues that should be followed while conducting business as a customer are primarily being truthful to the customer.
The first ethical issue that is expected from a tobacco company as the customer is in the realm of product safety and honesty towards the consumers. As a member of the society, a customer would also like to see that the tobacco industry fulfills its responsibility…
Ferrell, O. & Ferrell, L. (2009). Ethical business. New York: DK Pub.
Gavai, A. (2010). Business ethics. Mumbai [India]: Himalaya Pub. House.
McCambridge, J. (2016). Ethical issues raised by tobacco industry-linked research in the era of e-cigarettes. Addiction, 111(8), 1334-1335. http://dx.doi.org/10.1111/add.13308
Palazzo, G. & Richter, U. (2005). CSR Business as Usual? The Case of the Tobacco Industry. J Bus Ethics, 61(4), 387-401. http://dx.doi.org/10.1007/s10551-005-7444-3
Multidimensional scaling and factor analysis are a couple of different statistical techniques that can be used to understand the drivers of a business. MDS is a technique that renders multiple data points in a relational manner -- data points that end up closer to one another are expressed visually as such, while those that are fairly far from each other in the key variable are expressed as being far. Factor analysis seeks to learn look at a set of different variables and identify the latent variable. This is the underlying variable that is driving the other variables, something that has a lot of value for a business.
Multidimensional scaling is "a set of data analysis techniques that display the structure of distance-like data as a geometrical picture" (Young, 1985). There are a number of different techniques as part of multidimensional scaling, and this paper will outline…
Borgatti, S. (1997). Multidimensional scaling. Analytictech. Retrieved May 3, 2016 from http://www.analytictech.com/borgatti/mds.htm
Young, F. (1985). Multidimensional scaling. University of North Carolina Retrieved May 3, 2016 from http://forrest.psych.unc.edu/teaching/p208a/mds/mds.html
Business Plan for a Financial Divorce Software
Business Plan Divorce Software
Business Plan relating to the Sales of a new Financial Divorce Software.
Business Plan relating to the Sales of a new Financial Divorce Software
Keys to Success
Legal Form of Ownership
Location and Facilities
Products and Service
Ps of Marketing
Financial Statements and Projections
evenue and Cost Estimate
Forecasted Profit and Loss Statement
Forecasted Balance Sheet
Financial planning is involved in every aspect of life. Individuals and businesses have to formulate their daily, monthly, and yearly budgets in order to achieve a balance between their incomes and expenditures.…
Association of Divorce Financial Planners, (2012). Divorce Financial Planning. Retrieved on July 7th, 2012, from
Blythe, J. & Megicks, P. (2010). Marketing Planning: Strategy, Environment and Context, 3rd Edition. U.K: Prentice Hall
Cadle, J., Paul, D., & Yeates, D. (2010). Business Analysis, 2nd Edition. Swindon: British Informatics Society
Francis, P. (2010). Creating the Marketing Executive of the Future Using Key Deming Principles, Journal of Executive Education, 9 (1): 127-138
As part of the research triangle, Raleigh has a significant portion of its population that fits the target market. For the Farmery to succeed, it only needs to capture a small portion of the market share. This is especially true because the store has a small footprint, and has the flexibility to set up on vacant lots without the costs of either renting or developing fixed real estate. The Farmery therefore needs to focus on two or three key elements to ensure adequate market penetration.
The first of these is location. Let it not be understated that location, location, location is critical to the success of any retail business. Because food is not normally something that people are willing to travel more than a few miles for, it is important that the Farmery target a neighborhood where there is a high concentration of individuals that fit the target market. There…
Falk, T. (2012). Detroit turns shipping containers into condos. Smart Planet. Retrieved December 4, 2012 from http://www.smartplanet.com/blog/bulletin/detroit-turns-shipping-containers-into-condos/5900
Food Marketing Institute. (2012). Supermarket facts. Food Marketing Institute. Retrieved December 4, 2012 from http://www.fmi.org/research-resources/supermarket-facts
Greene, B. (2012) the Farmery. Kickstarter.com Retrieved December 4, 2012 from http://www.kickstarter.com/projects/farmery/the-farmery
Imlay, T. (2006). Challenges in today's U.S. supermarket industry. Microsoft. Retrieved December 4, 2012 from http://msdn.microsoft.com/en-us/library/aa479076.aspx
However, while the majority of goods will see an increase in demand when prices decrease, the rate at which demand changes of will vary, and some products may see a faster increase than others (Baye, 2007). Additionally, in a few cases a decreasing price may undermine the value of the product, and may result in a decrease in sales, this is known as a Giffen good (Baye, 2007).
lasticity is a way of measuring the impact that a change in price will have on the demand for a product, and the revenues which are generated. If Will wants to maximize revenues, he can use the concept of elasticity in order to determine how prices for both the out of copyright and new books should be price.
The calculation of elasticity is relatively simple, if there is some historical data available indicating sales following a price change. lasticity can be calculated…
Elasticity is a way of measuring the impact that a change in price will have on the demand for a product, and the revenues which are generated. If Will wants to maximize revenues, he can use the concept of elasticity in order to determine how prices for both the out of copyright and new books should be price.
The calculation of elasticity is relatively simple, if there is some historical data available indicating sales following a price change. Elasticity can be calculated by dividing the percentage change in the demand by the percentage change in the price (Baye, 2007). For example, if there is a 50% decrease in demand following a 50% increase in price the calculation will be -50/50 = -1. In elasticity calculations is it is usual to drop the negative indicator (Baye, 2007). This means that for every 1% increase in price there will be 1% decrease in demand, and conversely for every 1% decrease in price there will be a 1% increase in demand. If this is applied to the sale of movies where he found that when prices decreased from $80 to $20 sales increased by 600% a sample plasticity calculation can be undertaken. In this case plasticity is calculated by dividing 600 by -75, which gives an elasticity of -8, or 8 because the minus indicator is dropped. This means that it was possible to calculate the change in prices, and that for every 1% decrease in prices there would be an 8% increase in sales. Where the increase in demand is greater proportionately than the decrease in price, there will be an overall increase in revenue, where the elasticity is less than one the proportional change in demand will be less than proportional change in the price.
With the case of the films, it was clear that the company was better decreasing prices in order to increase sales. However, the digitized books are a different matter, they are different product, and at the current time they are benefiting from the competitive advantage of diversification, as the technology is patented and Will does not believe that it can
One tactic which has made the John Doe group unique in the industry is its recognition of the importance of community in the viability of individual enterprises. Its damaged relationship with the communities in which it has sought to operate can be rectified by aspects of its model which are already in place. Though the company operates thousands of funeral service establishments from a centralized point of authority, its acquisition strategy incorporates the families who have owned and operated the newly purchased assets into the business plan. As a result, John Doe's holdings are hybrid entities, armed with the resources of a large parent company but endowed with the close community relationship of an independent business. Taking advantage of this model should be central to the company's overall reversal of its negative public image. This will demand that the new core of central leadership make an effort to increase…
The company deals in interior finish materials. The range is from the floor tiling and laminated floor boards to the paint and lighting systems. The company primarily sells and advices the clients on the best interior finish material to use, once they have finished their basic construction of the house. The company works closely with the homeowners, interior designers, architects, developers and construction consultants.
It is of great importance for the management of a business to know their areas of Strength, Weakness, Opportunities and Threats to be able to capitalize more on their strength and take precautions on their area of shortcomings (Marketing Teacher, 2011). It will also enable us as accompany to seize the opportunities that arise and curb any threats like the budding competitors early in time. This is because before one engages the business to carry out a particular task, one must first…
Marketing Teacher, (2011). SWOT Analysis. Retrieved May 16, 2011 from http://www.marketingteacher.com/lesson-store/lesson-SWOT.html
Michael Ison & Kerry Kempton, (2007). The impact of management style. Retrieved May 16,
2011 from http://www.dpi.nsw.gov.au/__data/assets/pdf_file/0004/179185/the-impact-of-management-style.pdf
Regina Edwards, (2011). Importance of SWOT Analysis. Retrieved May 16, 2011 from http://www.ehow.com/about_5377992_importance-SWOT-analysis.html
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 sustainable, profitability will become more important.
Increase customer value by discovering what a customer's needs and value expectations are and then meeting or exceeding these expectations. Some examples of things that customers value include a broad selection of products, quality, service, performance, and low price.
Achieve operational excellence through the internal productivity that optimizes those business processes that will best satisfy customers. Productivity is more than efficiency; it depends on the value of the products and services (utility,…
Finding a Solution to Our Camera Failure Problems at Images Studio
Images Studio is a full service photography studio offering multiple photography services. For more than 15 years, Images Studio has been capturing life's memorable moments. Our creativity, knowledge and caring, professional service provide our clients with images of the highest quality. Our clientele choose Images Studio because they can be assured we deliver on our promises of exceptional quality and service.
hile we specialize in elegant wedding photography, we also photograph family portraits, children, senior portraits, special events, executive portraiture, sports, glamour shots, high-definition (HD) video services, commercial and aerial photography. Images Studio offers both in-studio and on-location services.
Since expanding our mix of photographic services in 2007, our revenues have grown steadily with the demand for our additional services. e have accommodated this additional demand by adding personnel and equipment. By hiring two additional full-time photographers…
Affordable 2/3" HD cameras hit the studio. (n.d.). Retrieved October 22, 2011 from: http://www.hdcameraguide.com/guide/hi-def_spotlight/23q-hd-cameras
Current, T. (2009, Sept.27). The new H4D-60 from Hasselblad. Retrieved October 22, 2011 from: http://currentphotographer.com/the-new-h4d-60-from-hasselblad/
Financing photography equipment. (2008). WB Financial. Retrieved October 22, 2011 from: http://www.equipmentleasingspecialists.com/photography-equipment-financing.php
Stephen. (2010, July 11). Hasselblad H4D review. Retrieved October 22, 2011 from: http://bayimages.net/blog/reviews/hasselblad-h4d/
Decisions in Paradise
The many infrastructure and culturally-based challenges that Nik, his team and Mr. Morales face illustrate how challenging new business development can be in an island nation the size and location of Kava. What is immediately apparent from the case is that there is ample opportunity to enrich the island's economy and people while also building a strong, scalable business at the same time. Today however the island nation has an infrastructure that is lacking, an economy that is for the most part agrarian, and a young inexperienced workforce lacking advanced skills and education. It's going to be very challenging for Nik and his team to build a business on Kava, making the selection of a common vision, strategic plan and objectives, and core values of the team critical for their success. The decision making tools used, and the selection of vision, mission and goals all need to…
Alstyne, Marshall van, Erik Brynjolfsson, and Stuart Madnick (1997). "The Matrix of Change: A Tool for Business Process Reengineering." MIT Sloan School http://ccs.mit.edu/papers/CCSWP189/ccswp189.html
Muller, R., & Turner, R.. (2010). Leadership competency profiles of successful project managers. International Journal of Project Management, 28(5), 437.
Pandelica, I., Pandelica, A., & Dabu, B.. (2010). The Response of Organizations in Crisis Conditions. Journal of American Academy of Business, Cambridge, 15(2), 151-160.
Paul, R. And Elder, L. (2001) - Critical Thinking-Tools for Taking Charge of Your
An ethical issue refers to a situation whereby an organization is required to choose amongst alternatives that must be evaluated as either wrong or right. For example, an ethical issue arises when a business company opts to make as much profit while pollution the environment, the dilemma here being the regulation and social consequences. The company management may opt to bribing the regulation implementing organization as long as they continue making short-term profits before the law catches up with them, by then they may be forced to attire with the rule or shut down but they will have made as much finances than when they may have started and the consequences on the social life will have reached the stage where it affects their health and made the environment unbearable. The principle of autonomy; which requires individuals to be left on their own independence to conduct their activities,…
Andrew, J. (2008). Utilitarianism and deontology theories. New York: John and sons ltd.
Ferrell, O.C., & Fraedrich, J. (2012). Business Ethics: Ethical Decision Making & Cases. Salt Lake: Cengage Learning.
Joanne, B. (2010). Ethics and Business success. Mexico: Greenwood press.
John, K., & Berlyn, M. (2009). Assessing the effectiveness of decision making models. Normative and rationale models, 15 (14), 319-325.