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This is disturbing because not only were the thieves being able to access and steal the information, they were able to send an extortion letter to the company without anyone knowing. Then, no one at the company was aware of the issue, until it was too late. (Ragan) What this shows is that Express Scripts was more interested in increasing their overall bottom line, than protecting their customers' privacy. While, no security system is 100% safe, the fact that no one knew someone had stolen the personal information and that there was an extortion threat, highlights how security was not a top priority. Logically speaking, if the leadership of the company had been emphasizing good security related practices, the minute that the information was stolen would have allowed the company to alert the authorities. Once, they received the extortion letter they could have used it and the alertness of the…
"About Us." Express Scripts. 2010. Web. 26 Apr. 2010
"Attorney General McKenna Announces Express Scripts to Pay $9.5 million." Washington State Attorney General. 27 May 2008. Web. 26 Apr. 2010
"Better Business Bureau Warns Against Unethical Services Targeting the Elderly." Better Business Bureau. 31 October 2007. Web. 26 Apr. 2010.
"Earnings Estimates." Express Scripts. 2010. Web. 26 Apr. 2010.
Saudis are also offended by the sight of the soles of shoes because in their culture, showing someone the sole of your shoe is roughly equivalent to giving someone the middle finger in the U.S. Therefore, you must be careful not to cross your legs in the "figure 4" posture that is common among males in the West (Hughes & Chesters, 2003
Important Cultural Expectations in Saudi Arabia
There are also important cultural differences that you should be aware of in Saudi Arabia. For example, women are prohibited from driving and they are expected to wear very conservative clothing (Hughes & Chesters, 2003). Therefore, having a Western female executive who shows up to an appointment in a business skirt that might be perfectly appropriate in the West could ruin your arrangements. Saudis are also very careful about any physical contact between the genders; therefore, Westerners should always wait and follow…
Hughes, R. And Chesters, G. (2003). Living and Working in Gulf States & Saudi Arabia.
Survival Books: London.
Harris, P. And Moran, R. (2007). Managing Cultural Differences:
Enforcing Ethical Business Practices by U.S. Federal Contractors
There have been a number of high-profile cases of corporate wrongdoing in recent years that have involved federal contractors, and these cases have created calls for improved ethical practices in the public and private sectors alike. Because there is an enormous amount of taxpayer resources involved in the federal contracting process, it is vitally important that is conducted in a transparent and ethical fashion, but opportunities for unethical practices are commonplace and tend to increase as firms gain experience and become friendly with federal contractors. In addition, other opportunities for unethical practices can present themselves simply because practitioners are unaware of the long-term implications that are involved, or because they lack formal guidance for unique ethical dilemmas. To gain some fresh insights into these issues, this paper provides a review of the relevant peer-reviewed and scholarly literature to identify the…
Bid shopping ban on federal construction gains support in Congress. (2005, July/August).
Business Credit, 107(7), 28.
Green, M. & Berry, J.F. (1999, June 8). White-collar crime is big business. The Nation, 240,
Wal-Mart Changes in Business Practices
Marketing in 2012 Demands a apid Pace of Change Affecting Business Practice
Over the years, there has been a change in the way organizations market their products across the globe. These changes are influenced by the dynamic nature of customers as well as changes in consumer behavior. It is pertinent to note that the introduction of social transparency has promoted the aspect of customer service in e-marketing. The social media is now considered an instrumental aspect of the marketing of any organization. This study will elaborate the significance of social media to Wal-Mart's marketing strategy. Through social media, customers become the influencers regarding the product consumption and purchase decisions across the market. Additionally, multiple aspects of an organization can be incorporated. These include advertising, public relations, marketing, customer service, as well as e-commerce. Social media website form multidimensional platform for different client engagements.
Christian, E.B. (2011). Rock Brands: Selling Sound In A Media Saturated Culture. Lanham [Md.: Lexington Books.
Clow, K.E. (2012). Cases in Marketing Management. Los Angeles: SAGE.
Mainwaring, S. (2011). We First: How Brands And Consumers Use Social Media To Build A Better World. New York: Palgrave Macmillan.
Mullins, J.W., & Walker, O.C. (2010). Marketing Management: A Strategic Decision-Making Approach (8th ed.). New York: McGraw-Hill.
Creative Business Practices: Entrepreneurship Innovation and the elevance to the Modern Organization
The work entitled "Globalization of Social Entrepreneurship Opportunities" reports that entrepreneurship "...by new and established companies is a major source of wealth and job creation, economic and technological growth and social transformation. This transformation is made possible by the powerful forces entrepreneurship unleashes, where ordinary people conceive innovative ideas, organize production, assume risk, and engage customers to accumulate wealth or address pressing social causes, often across national borders." (Zahra, 2006)
The work of Donald F. Karatko entitled "Entrepreneurship: Theory, Process and Practice" states that many of today's companies are acknowledging the need for corporate entrepreneurship. (Karatko, 2008, paraphrased) It is stated by Kuratko that this need "has arisen in response to a number of pressing problems which are reported to include such as:
(1) apid growth in the number of new and sophisticated competitors;
(2) A sense of…
Mitra, Jay and Matlay, Harry, The Internationalization Efforts of Growth-Oriented Entrepreneurs: Lessons from Britain (2004). International Entrepreneurship in Small and Medium Size Enterprises: Orientation, Environment and St., Vol. 2, p. [HIDDEN] . Available at SSRN: http://ssrn.com/abstract=1496749
Sumner, Jasper (2007) The Social Construction of Globalization: How the Blair Government Reformed the British Welfare State. Indiana Journal of Political Science, Winter 2007, 41. Retrieved from: http://www.indianapsa.org/2007/2007article5.pdf
Passaris, Constantine, E. (2006) The Business of Globalization and the Globalization of Business. Journal of Comparative International Management 1 June 2007. Retrieved from: http://www.allbusiness.com/management-companies-enterprises/3958028-1.html
Audretsch, David B. And Sanders, Mark (2008) Globalization and the Rise of the Entrepreneurial Economy. Tfalling C. Koopmans Research Institute, Ulrecht School of Economics. June 2006. Retrieved from: http://www.uu.nl/uupublish/content/08-21.pdf
Also, these cotton capes were so valuable that a family or individual lucky enough to own twenty or more could support themselves for an entire year in the city of Tenochtitlan; these capes could also be used to barter for more expensive items like gold jewelry and necklaces made from jade (Van Tuerenhout, 184).
Out of all the goods that were available in the Aztec marketplaces, two were of primary importance for the people of the empire, being obsidian and ceramics. Because of its excellent cutting abilities and the large number of blades that could be fashioned from a single core, obsidian, also known as black volcanic glass, was one of the most valued and widely-traded goods in the Aztec Empire. Part of the explanation for this is that the Aztecs lacked metals like iron and had no knowledge pertaining to the smelting of iron ore. Although they did possess…
Berdan, Francis. The Aztecs of Central Mexico: An Imperial Society. New York:
Holt, Rinehart & Winston, 1982.
Hassig, Ross. Trade, Tribute and Transportation: The Sixteenth Century Political Economy of the Ancient Aztecs. Norman: University of Oklahoma Press, 1993.
Hooker, Richard. "Civilizations in America: The Mexica Aztecs." 1996. Internet.
8 million in reduced utilities costs" (Young 56). Thus, Sun has reduced costs significantly, while keeping its workforce solidly on American soil. There are ways for smaller companies to utilize these types of solutions, as well. Flextime, telecommuting, and even satellite offices can help save money while creating a more motivated and productive workforce. Often, after implementing flexible work options such as these, output increases, because employees are happier and more productive in their jobs.
In conclusion, outsourcing jobs offshore may make short-term fiscal sense for many employers. However, the long-term affects of outsourcing remain to be seen. Outsourcing reduces loyalty and trust in consumers, reduces the level of customer service, takes jobs away from American workers, and may even turn the economy downward as it continues. Outsourcing produces cheaper labor costs, but all too often, it also produces shoddy products and services. Keeping jobs in America is not only…
Anderson, Stuart. "Outsourcing Saves Money: Sending Jobs Overseas Can Increase the Productivity, Profitability and Competitiveness of U.S. Companies." State Legislatures June 2005: 30.
Challenger, John a. "How to Smooth Job Transition to Offset Overseas Outsourcing." USA Today (Society for the Advancement of Education) 132.2708 (2004): 22.
Cocheo, Steve. "Globalthink or Job Shrink: Offshore Outsourcing Brings Some Banks Key Benefits. If Only it Didn't Carry All the Cachet of Leprosy. A Look at What's Actually Happening." ABA Banking Journal 96.5 (2004): 40+.
Regulators Keep a Risk-Based Eye on Offshore Outsourcing." ABA Banking Journal 96.5 (2004): 64+.
Three cross-cultural differences to consider if company expands into the global market basing on a selected Asian country.
Companies in developed economies are increasingly moving into the developing world searching for new customers and talents, a situation that has been brought about by their hard struggle in their own home markets. (Unit, 2012). Culture, as noted to influence consumer market and behavior, should therefore be greatly considered when choosing the international market strategy. Many cases have proved that the environment of a local culture, given a specific country or region, influences the market strategy as well as the way and the quantity that a company exports (Cui & Ting, 2009).
Sociologists believe that languages form the basis of cultures and without languages, no culture would exist. In another light, cultures influence languages and languages reflect cultures. Chinese as a mother tongue is spoken by thrice the number…
Cui, Y., & Ting, Z. (2009). American Fast Food in Chinese Market: A Cross-Cultural Perspective. Hogskolan: University of Halmstad.
Erb, Claude, Campbell R. Harvey and Tada Viskanta (1995), "Inflation and World Equity Selection," Financial Analysts Journal, (Nov.-Dec.), 28-42
Irwin, J. (2012). Doing Business in China: An overview of ethical aspects. London: Institute of Business Ethics. Retrieved from: http://www.ibe.org.uk/userfiles/chinaop.pdf
Hofstede, G. (1988). The Confucius connection: Form cultural roots to economic growth. Organizational Dynamics, 4, 12-13
Family and Social Structure
Many Japanese families retain a very traditional division of home labor, whereby men work long hours and women stay at home and tend to the rearing and education of children. Couples may spend many hours of the day apart from one another, in contrast to American households. Children may live with their parents, especially young women, until they are married, rather than leaving after they depart for university. Children often have many outside academic and extracurricular commitments that keep them away from the home, although when at home they are more likely than American children to be responsive to the will of their parents.
The Japanese rarely entertain at home. If your hosts to entertain you at home, this is a great honor. Make sure to bring a gift for the household if they do. In Japan, the wrapping of the gift is of equal…
Williams, D. "Japan." Global Edge. [6 Oct 2007]
Yamakawa, Ryuichi. "The Silence of Stockholders: Japanese Labor Law from the Viewpoint of Corporate Governance." Special Topic. JP Bulletin. Vol.38-No.11
November 1,1999. [6 Oct 2006] http://www.jil.go.jp/bulletin/year/1999/vol38-11/04.htm
est Practices in usiness
Over the last several years, the workplace has been continually evolving. This is because there are different age groups and demographics. These shifts are forcing employers to utilize numerous strategies in order to improve motivation and performance. In the case of Google, the firm is one of the top technology companies in world. To remain competitive they will use their employees to assist the company in reaching key objectives. This enables it to adapt with the different changes inside the marketplace. [footnoteRef:2] To fully understand they way this occurs requires carefully examining their practices, the way they can be used by other businesses and the influence they are having on sectors. Together, these elements will illustrate how Google is able to utilize these factors to continually adjust with the challenges it is facing. [2: Janet Lowe, Google Speaks (Hoboken, NJ: Wiley, 2009), 29-73]
"Our Culture." Google. Last modified 2014. Accessed January 5, 2015. http://www.google.com/about/company/facts/culture/
Akanbi, Paul. "Exploring the Relationship between Job Satisfaction and Organizational Commitment." Journal of Business and Management Sciences, 2 (2013): 18 -- 22.
Fisk, Peter. People Planet Profit. Philadelphia, PA: Kogan Page, 2010.
Hackman, Michael. Leadership. Long Grove, IL: Waveland Press, 2013.
Research Methodologies and Implications for Modern Businesses
Today, two of the primary methods of collecting relevant information and interpreting it in unique ways to benefit business operations are qualitative and quantitative methodologies. Although these two research methodologies share some commonalities, they both differ in terms of what types of data is used for analysis and how the resulting analysis is applied in real-world settings. The purpose of this signature assignment is to provide a review and reflection on these two research methodologies to develop timely and informed recommendations for business practitioners concerning which research strategy is optimal for their purposes. A summary of the research concerning qualitative and quantitative methodologies and key findings concerning their use in real-world business situations are presented in the conclusion.
Review and Analysis
Business practitioners in companies of all sizes and types are frequently faced with complex problem situations that defy easy explanations,…
Chong C. H. & Yeo, K. J. (2015, June). An overview of grounded theory design in educational research. Asian Social Science, 11(12), 258-261.
Creswell, J. W. (2003). Qualitative inquiry and research design: Choosing among five traditions. Thousand Oaks, CA: Sage Publications.
Groat, L. N. & Wang, D. (2013). Architectural research methods. Hoboken, NJ: Wiley.
Lowe, C. (2018). Data collection strategies in qualitative research. Public Policy & Administration. Retrieved from https://web.csulb.edu/~msaintg/ppa696/696quali.htm.
Newman, I. & Benz, C. R. (1998). Qualitative-quantitative research methodology: Exploring the interactive continuum. Carbondale, IL: Southern Illinois University Press.
Neuman, W. L. (2003). Social research methods: Qualitative and quantitative approaches, 6th ed. New York: Allyn & Bacon.
Qualitative research. (2018). The University of Utah. Retrieved from https://nursing.utah. edu/research/qualitative-research/what-is-qualitative-research.php.
Qualitative research in a new world. (2018). The New Marketing Research. Retrieved from https://newmr.org/ blog/how-do-we-define-qualitative-research-in-a-new-mr-world/.
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…
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…
Other measures can include sanctions against foreign companies that are engaged in bribery. This many motivate the governments of those countries to take stronger measures towards eliminating bribery.
3) There are a couple of reasons I think Starbucks has been so concerned about its corporate social responsibility. One is that it helps cultivate a positive image of the company, which can help to both attract and retain customers. Another reason is that the company comes from a culture in the Pacific Northwest where philanthropy and social responsibility is more accepted in business. This cultural difference may have impacted the overall philosophy of Starbucks with regards to this issue. Also, Starbucks is a high-profile company. They open themselves up to significant negative publicity if they engage in social irresponsible acts. Maintaining a high level of corporate social responsibility is therefore a defense against potentially damaging criticism.
Starbucks' various relationships are generally…
It is a basic maxim of good business practice that an organization must keep pace with the needs of its customers, and in fact, constantly strive to anticipate the needs of its customers. To achieve this, it is important that a company targets processes and resources on customers and commits itself to the strategic delivery of customer perceived value (Lowenstein, 1997, p. xxi). Currently, it is apparent that the metal company under discussion has a key strength in that its marketing team is extremely customer oriented. This is apparent given the fact that they work harder at building satisfaction among disgruntled customers. Obviously, this work culture is something that needs to be retained and continuously reinforced.
However, given customer feedback about the inconvenience of interacting with different managers from different departments for their basket of needs, there needs to be management recognition that the marketing team will inevitably…
Lowenstein, M.W. (1997). The Customer Loyalty Pyramid. Westport, CT: Quorum Books.
This allows for greater levels of planning and cooperation, and fills in the information gap that currently exists between the factory floor and the rest of the supply chain.
Lexmark provides an example of waste. Recently, the company found itself with more than $1 million in scrap from one lot. Engineers had insufficient information to isolate and fix the problem, so were instead relegated to crisis control. With more accurate data from each step of the operation, the engineers could have been more involved in the process and made improvements along the way before it became a large-scale crisis.
Through web-based business applications, engineers can now examine a defective printer cartridge and then use a thin client to put a hold on the entire batch if necessary, regardless of its physical location (anywhere in the world)
In conclusion, it is apparent that e-business is making its mark on the business…
Alexander, Michael. (2001). Factory Floors Go Online -- Pioneering manufacturers close the final gap in their supply chains. InternetWeek; Manhasset; Mar 12, 2001.
2002) Automotive Design & Production. Cincinnati, 114(8), 70-72.
Steele, a.L. (2001). Cost drivers and other management issues in the JIT supply chain environment. Production and Inventory Management Journal. Alexandria, 42(2), 61-68
Drickhammer, D. (2001, May 21). Peak performance. Industry Week. Cleveland, 250(8) 36-40.
usiness Management: Staffing Practices & Selection Tools:
Analysis of a Pharmaceutical Organization
In the past few decades, globalization and technology are two emerging trends that play a significant role in any organization's staffing practices and selection tools used to meet current and future employment needs. oth globalization and technology pose dilemmas for any pharmaceutical company with a large number of promising drug candidates. This paper examines and analyzes the staffing practices of Pfizer in its position as a leading worldwide pharmaceutical company. Pfizer is a good example of a company whose staffing practices have met their current employment needs and continues to meet future employment needs. This company is in an excellent position, as demonstrated by the fact that its overall sales exceeded $45 billion in the last year, up 40% over the previous year (Pfizer, 2004). This strong financial performance has its roots in the employees that comprise the…
International Monetary Fund. (2002). Globalization: Threat of Opportunity? Retrieved
May 31, 2005 from the International Monetary Website:
Pfizer. (2004). Pfizer. Retrieved May 31, 2005 from the Pfizer Website:
ecent high profile bankruptcies in the U.S. corporate sector such as the ones filed by Enron, WorldCom, and Global Crossing in 2001 have highlighted the importance of financial ethics in business since lack of ethical practices were identified as the main cause of their failures. The business scandals underlined the importance of stricter regulation of the corporate sector and forced the U.S. legislature to pass the Sarbanes-Oxley Act of 2002 that contains a number of important provisions relating to business ethics. This paper about business ethics focuses on the impact of financial ethics in business.
Greed and an over-riding focus on increasing the profits and "share-holder value" usually leads managers and business leaders to disregard financial ethics in business. Although the impact of such "over sight" may be beneficial in the short run, it is invariably disastrous in the long run -- both at the individual as well…
Hackworth, Michael. (1999). "Only the Ethical Survive." Issues in Ethics - V. 10, N. 2, Fall 1999. Retrieved on July 1, 2005 from http://www.scu.edu/ethics/publications/iie/v10n2/ethical-surv.html
'Summary of Sarbanes-Oxley Act of 2002." (2005). AICPA Web site. Retrieved on July 1, 2005 from http://www.aicpa.org/info/sarbanes_oxley_summary.htm
Thomas, C.W. (2002). "The Rise and Fall of Enron; When a Company Looks Too Good to Be True, It Usually Is." Journal of Accountancy. 193(4), 41+.
Title IX of the White Collar Crime Penalty Enhancement (WCCPA) Act, which is part of Sarbanes-Oxley provides for penalties of $5,000,000 and/or imprisonment of up to 20 years for willful and knowing violations. ("Summary of ... " 2005)
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
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.
Ethical issues and dilemmas have always been hitting the operational performance and sustainability of business organizations. They directly affect the way an organization formulates and implements its policies, operates as an active participant in the industry, and competes with other organizations for the sake of accomplishing its strategic objectives. Ethical issues may relate to the organization's social responsibility or corporate responsibility; both are vital for the organization to ensure a sustainable future in its industry. This paper discusses an ethical issue which was faced by one of the world's most admired organizations -- Apple Inc. The main purpose of the paper is to highlight the ethical issue in which Apple was involved; the consequences of the ethical issue and the individuals involved in the process. The paper starts with a brief introduction to Apple; its main product offerings, industry, scale of operations, and major strategic decisions which it…
Apple, (2012). Labor and Human Rights. Retrieved on September 26th, 2012, from
Enderle, R. (2010). Apple and the Ethical/Business Problems of Child Labor and Other Unsavory Practices. Retrieved on September 26th, 2012, from
Hinks, P. (2012). Apple's new leader faces ethical dilemmas at Foxconn. Retrieved on September 26th, 2012, from
Hyatt, J.C. (2012). Apple, Foxconn, Promise Improvements for Workers. Retrieved on September 26th, 2012, from
Pattern of Ethical Challenges
One company that consistently makes the news because of ethical issues is Walmart. This essay examines business ethics as practiced at Walmart.
Founded in 1962, Walmart has grown to sales of $405 billion and more than 2.1 million associates worldwide. The company is now ranked as the world's largest retail chain. But that explosive growth has also made Walmart an exceptional target. How many companies can boast of their own dedicated watchdog organizations, whose sole purpose is monitoring the company's performance on a wide range of issues related to business ethics? Walmart is such a company, although it would probably prefer otherwise. According to the website of Walmart Watch, it exists solely to "hold Walmart fully accountable for its impact on communities, the American workforce, the retail sector, the environment and the nation's economy" (Walmart Watch, 2011). Launched in 2005, Walmart Watch's stated purpose…
2004 Program Enhancements. (2004). Retrieved June 26, 2011 from http://walmartstores.com/ media/resources/legacydocs/2004SuppStandards_3.pdf' target='_blank' REL='NOFOLLOW'>
Having this traditional silo-structured environment makes it very difficult to properly develop a curriculum surrounding service management. Because of this there is a significant gap that exists between the education received by business school graduates and the skills that they need to succeed in today's service heavy environment.
Non-traditional Business Skills and Tactics
Nontraditional business skills are often referred to as soft skills or people skills. These consist of the ability to communicate and understand people on an emotional level. These are often the skills that can determine the success or failure of a career (Thilmany, 2009). The skills are all related to human interaction. This includes most forms of communication, negotiation and leadership. Soft skills can be distinguished by different types such as informative, negotiating, listening, and communicative. Informative soft skills are those that send a message that has to be conveyed accurately. Negotiating or convincing soft skills is…
21 Business Skills Needed to Succeed. (2009). Retrieved September 22, 2009, from New
Horizons Web site: http://www.nhmn.com/COMMUNITIES/softskills/news/08-03-
Davis, M.M. And Berdrow, I. (2008). Service science: Catalyst for change in business school curricula. IBM Systems Journal, 47(1), 29-39.
In the case of Enron, upper-level executives went too far. By blatantly lying on numerous occasions about the value of their stock, participants like CEO Kenneth Lay overstepped the boundaries of utilitarian lying.
Many studies have been conducted on the relationship between ethics and profitability in the business world. Studies indicate a "positive but not definitive" relationship between ethical behavior and financial success (ebley and More). Especially in the wake of the Enron disaster, investors and employees are looking toward companies with stronger ethical codes. Research has also indicated that companies that overtly refer to their codes of ethics in their annual reports and other public communications fare better than those that don't, in terms of economic added value (EVA), market added value (MVA), and reduced volatility (ebley and More).
Such research does not indicate a causal relationship between ethical behavior and profitability. hat such research indicates is not necessarily…
Enron's bankruptcy causes aftershocks on Main Street, Wall Street and in Washington." 2001. CNN.com. Retrieved July 19, 2005 online at http://www.cnn.com/SPECIALS/2002/enron/
Webley, Simon and More, Elise. "Does Business Ethics Pay?" Apr 2003. Institute of Business Ethics. Retrieved July 19, 2005 online at http://www.ibe.org.uk/DBEPsumm.htm
Business, Personal, Moral Ethics
When we know something is right or wrong, good or bad, because of certain facts (not just preferences), we're confronting moral issues. Hurting people is wrong. Wanting vanilla ice cream is probably not, no matter that it may seem offensive to some of us sometimes. Social or cultural institutions that govern our personal principals are imposing moral standards that we can aim to achieve.
Business ethics, however, are different. They are operational guidelines and process expectations; and in many instances it is what one does to conform to this expectation that determines whether they are considered appropriate or not. The goodness or badness is business ethics is a much different issue, since even good business people can do bad things on purpose in search of bottom line profits and that is not necessarily seen as offensive.
When one basically blends these approaches and seeks to use…
Business and Human Rights Resource Center (09/28/2011). Retrieved from http://www.business-humanrights.org/Categories/Individualcompanies/L/LeviStrauss .
Johnson, S., Carey, P., Rogers, P., and Melvin, J., (8/31/2011) Investigators Slam PG&E over San Bruno explosion, Mercury News, Bay Area News Group. Retrieved from http://www.mercurynews.com/top-stories/ci_18787566 .
Wearden, G., (8/15/2011), Warren Buffett calls for higher taxes for U.S. super-rich, The Guardian, (8/15/2011). Retrieved from http://www.guardian.co.uk/business/2011/aug/15/warren-buffett-higher-taxes-super-rich .
Walt Disney is the largest entertainment company in the industry all over the world. Throughout the years the company ahs become a leader in the source of entertainment.an in-depth look at the company's financial processes [provides an insight of how the company became known, respected and loved by many people all over the world. Disney is a familiar household name due to the its lasting impact not only in American society but all over the world .from 1920's Walt-Disney has left an impact to people throughout the world for its entertainment which includes films, theme parks as well as resorts (Disney, 2013). Being a leading entertainment company in the world is an indication that the financial performance of Walt Disney has been secure since its inception. Everyone in the world enjoys entertainment and Walt Disney has natured and organization that provides entertainment to people just as…
Disney. (2013). Business and Ethics Standards. Retrieved September 25, 2013 from http://thewaltdisneycompany.com/about-disney/business-ethics
Disney. (2013). Code of Business Conduct and Ethics for Directors. Retrieved September 25, 2013 from http://thewaltdisneycompany.com/content/code-business-conduct-and-ethics-directors
The Walt Disney Company. (2010).Standards of Business Conduct. Retrieved September 25, 2013 from http://corporate.disney.go.com/corporate/conduct_standards2
Business Transformation Strategy
GE Capital oodchester is a leading provider of motor car, equipment, and personal finance in the country of Ireland. They offer the most flexible packages for diverse financial needs and as such, have earned the position of leading the personal and capitol acquisition financial services. GE Capital oodchester also provides specialized financing and services and they focus on niches including equipment and car leasing, hire purchase and loans to businesses and individuals across Ireland. Headquartered in Dublin, GE Capital oodchester services the financial needs of its customers through its regional sales centers and extensive dealer and partner network.
GE Capital oodchester is a wholly owned subsidiary of GE Capital. ith assets of more than U.S.$425 billion, (gecapitol.ie, online) GE Capital is a global, diversified financial services company with 28 specialized businesses worldwide. GE Capital has had an enviable record of growth over the past decade delivering value…
Who We Are. (2002) GE Capitol. Accessed 6 August 2003. Website: http://gecapital.ie/GECapital/WhoWeAre.cfm
Our Expertise. (2002) GE Capitol. Accessed 6 August 2003. Website: http://gecapital.ie/GECapital/OurExpertise.cfm
Hill, C. & Jones, G. (2001) Strategic management: an integrated approach, 5th ed. Houghton Mifflin Company: Boston.
Porter, Michael. (1980) Competitive Strategy: Techniques for Analyzing Industries and Competitors New York: Simon and Schuster.
In that regard, even the protections available in more sophisticated societies cannot prevent major governmental corruption, exploitation, or unethical business practices in the private sector.
Therefore, the prospect of expanding our company presence to Kava does not obligate us to become more directly involved in Kava government or politics, but it does impose an obligation on our part to encourage the most beneficial organizational values and practices at every level. Business management principles must be shared in a manner that best cultivates a fundamental respect for human rights, equal rights, ethical principles of fairness and equity.
Naturally, in addition to attempting to instil socially responsible organizational values in Kava, our ethical responsibility requires us to determine a fair method of apportioning the measurable value that we derive from our Kava operations between the Kava people and our financial interests. It should go without saying that we will restrict our operations,…
To run a business profitably, especially in the modern times where business is dome at the speed of thought, achieving business stability and growth can be made possible by setting goals that have to be achieved and using the proper tools and methods. (Elkin, 1998) Enhancing the business can be achieved by reaching the predetermined point where the investments match the output and there is a situation where the investment has begun paying. This point is called the break even point. In every business there is a great element of risk. A business becomes successful only when the risks are minimized. isks cannot altogether be eliminated but can be minimized. This is done by structuring the credit risk and adjusting the spending and other influential patterns of the entity. (Culp, 2001)
Sometimes the very core of the business need be redefined to achieve the objective of making profits. Strategic redefinition…
Culp, Christopher L. (2001) "The Risk Management Process: Business Strategy and Tactics."
Wiley. New York.
Elkin, Paul. (1998) "Mastering Business Planning and Strategy: The Power of Strategic
Thinking" Thorogood. London.
Independent dealers must sign a contract that sets forth the manner in which they will operate their rental centers. Often a small business owner will supplement their income be adding U-Hauls to their market mix. Independent contractors earn a commission on their sales.
Each division of AMERCO has it own president. All of them must report to a Board of Directors. The Chairman of the Board and overall President is Edward Shoen, descendent of the original founders of the company. Many members of the Shoen family still control much of the company (Google Finance). Little information is available about the company, aside from their financial statements. Although they have a Board of Directors, the company continues to operate as a family-style operation, with the family members occupying many positions in upper management. The company structure is simple and little is available beyond basic information.
Purchasing Contract Analysis and the UCC…
Ceh v. UHaul International, Inc., 11th district court of appeals, No. 04-10031.
A www.ca11.uscourts.gov/opinions/ops/200410671.pdf. Accessed January 22.
Company News; U-Haul's Parent Seeks Bankruptcy Protection." June 21, 2003. New
York Times. http://query.nytimes.com/gst/fullpage.html?res=9800EFDF173BF932A15755C0A9659C8B63 . Accessed January 23, 2007.
business idea create a thrift store. Focuses employing boys girls juvenile detention center. The profits store invested housing education workers, children maintain store. The assignment: Clearly explaining idea reader Then focus briefly highlighting aspects idea: 1.
The modern day society is more and more pressured by changes in the behavior of people, but also by larger changes at the greater social level. A notable change is as such represented by an increasing gap within the population. While the efforts are focused towards increasing social and economic equality, fact remains that the gap between the rich and the poor continues to be impressive. In such a setting, some people possess large amounts of products, which have to be disposed off, and others are in need of various products, but do not afford them. The thrift store comes to answer the needs of both population categories, by collecting goods and…
Hatten, T.S. (2011). Small business management: entrepreneurship and beyond. Cengage Learning.
Katzmann, G.S., (2002). Securing our children's future: new approaches to juvenile justice and youth violence. Brookings Institution Press.
Longenecker, J.G.. Moore, C.W., Palich, L.E., Petty, W.J., (2006). Small business management: an entrepreneurial emphasis. Vol. 1. Cengage Learning.
Olson, G.E. (2010). Better green business: handbook for environmentally responsible and profitable business practices. Pearson Prentice Hall.
Also people enjoying decent salaies with huge emuneation believe that thei level of pefomance is so high that they ae woking on low salaies. (Vickes, 2005) at the time of the boom duing the 1990s because of the unpaalleled stock options, the high anked manages possessed immensely moe monetay inducement to influence the eanings epot compaed to the executives in the pevious yeas. These inducements sometimes supassed the CEO and acoss the top levels of management - a eality which suppots to descibe the paticipation of seveal of the chief financial executives in copoate scandals. (Callahan, 2004)
Apat fom the sepaate instances of insatiability and wath, U.S. business cultue also suffes fom vey sevee attention on the bottom line, an issue that pemeates into the sphee of business eseach. While a team of eseaches inspected all the empiical eseach eleased by the Academy of Management fom 1958 to 2000, it…
references they encounter, take decisions within ethical perspectives, and create and upkeep an ethical work atmosphere. (Sims, 1994) Norms of ethical behavior must be devised methodically at the apex level of management. Employees anticipate supervisors and managers to be a precept. Maybe this is the reason behind 50% of the workforce reviewed in a research supported by the Ethics Officer Association and the American Society of Chartered Life Underwriters and Chartered Financial Consultant acknowledged to behaving in an unethical manner or unlawfully at the time of job. Roughly, 60%, nevertheless, supposed that ethical predicaments cannot be evaded in carrying out business. (Jackson, 2005) lot of business analysts maintain that apex management regularly must be accountable for the performances of their sub-staff. The plan is that till the higher officers are made answerable for the unethical works of their sub-staff, organizational cultures will carry on supporting -- if tacitly-- unethical behavior that generate short-term advantages. To put it differently, the leaders at the apex level of the organization might be the most efficient manner of instilling a culture that disheartens unethical behavior. This state presumes that leadership will be contributing a lot in building an ethical organizational culture. (Sims, 1994)
Even though the support of the apex management and real dedication to an ethical atmosphere is vital, other campaigners for these types of atmosphere are required - individuals who will assume a powerful stands on the urgency for ethical behavior, standardize the actions needed to strengthen these behaviors, and help in regularly striving to move the organization in the forward direction in an ethical manner. (Sims, 1994) Managers must fix achievable targets in consonance with the team associates. Employees can be urged to channel their thought process in an ethical manner and to calculate more accurately efficient and ethical decision making. Moreover serious assurance by the management to deal with ethical concerns by giving training would assist in tackling with the matter. (Jackson, 2005)
Greater disagreements of interest contribute an important part in dealing with the matter of business ethics. In order to handle the problem of ethics, managers initially have to appreciate that disagreement of interest happens. During the year 2000, the Ethics Officer Association undertook a review of 213 members of 150 firms and revealed that the most popularly stated cause for getting in touch with the ethics office were clashes of interest, showed by 74% of respondents. Even though these types of disagreements emanate from a lot of sources, the most significant among these is management, which is recommended in an April 2003 research
Had the Saints not engaged in corporate social responsibility, they likely would have abdicated a significant proportion of their market base.
Another example of corporate social responsibility is the recent campaign by Coca Cola to save polar bears, which are an endangered species. The polar bear effectively represents the mascot for the Coke brand, and so Coke has a (manufactured) affiliation with the species. By financially assisting the global effort to save polar bears, Coca Cola acts as corporate philanthropists while at the same time garnering positive publicity for their efforts. In this regard, good ethics are again equated with productive business (Burton, Goldsby, 2010).
Alternately, companies that disregard corporate social responsibility experience substantial corporate loss. For example, the Miami Marlins baseball team convinced the city of Miami to publicly fund their stadium, under the premise that they would spend ample amounts of money to field a competitive baseball team.…
Burton, K., Goldsby, M.G. (2010). The moral floor: A philosophical examination of the connection between ethics and business. Journal of Business Ethics, 91(1), 145-154.
Carroll, a.B., Shabana, K.M. (2010). The business case for corporate social responsibility: A review of concepts, research, and practice. International Journal of Management Reviews, 2(1), 85-105.
The grand jury returned a 112-count indictment against Steve Warshak, company president; his mother, Harriet Warshak; general counsel Paul Kellogg; and former employees Charles Clarke Jr., Steven Pugh and Amar Chavan. A company called TCI Media, which was allegedly used to launder money, was also part of the indictment. The charges include 77 counts of money laundering, 12 counts of mail fraud and four counts of bank fraud (Berkeley president, others indicted for fraud, 2006).
After the Grand Jury indictments were handed down The U.S. Attorney's Office in Cincinnati filed a new complaint against Berkeley Premium Nutraceuticals that included the freezing of various assets worth almost $2 million. The complaint alleged that Berkeley owner Steven Warshak and others participated in a complex, large scale mail and wire fraud operation. This amounted to another felony charge being added to the long list that had already been handed down. The frozen assets…
1. Berkeley Nutraceuticals files for Chapter 11 bankruptcy. (2008). Retrieved June 10, 2009, from Business Courier Web site:
2. Berkeley Premium Nutraceuticals, Inc. (2009). Retrieved June 10, 2009, from Business Courier
The company's objective is to develop capabilities in the Reseach and Development aeas as well as ensuing poducts that can be sold and distibuted in the Euopean and Ameican makets. It should be noted, howeve, that such a move must be taken with caution and cae; appoaching the Euopean business maketplace may not wok in the same manne as othe business envionments. As one expet ecently wote "appoaching the Euopean makets without ecognizing the impotance of national languages and cultues in daily life is a cucial mistake" (Robet, 2010, pg. 31). It would be wise fo the company to emembe Robet's wods due to the unique natue of the Euopean makets and Gemany in paticula; since that is the county this pape ecommends the company conducts its business.
It is impotant to note that choosing a county to base the company's opeations is a delicate and time-consuming matte that…
references of political actors, German Politics, Vol. 18, Issue 3, pp. 281-300
Dickman, M.; (2003) Implementing German HRM abroad: Desired, feasible, successful? International Journal of Human Resource Management, Vol. 14, Issue 2, pp. 265 -- 283
Dunning, J.H. & Lundan, S.M.; (2008) Multinational Enterprises and the Global Economy, London: Edward Elgar Publishing
Federal Republic of Germany (2003) Background Notes on Countries of the World 2003, pp. 1 -15
Grewal, R.; Chandrashekaran, M.; Dwyer, F.R.; (2008) Navigating local environments with global strategies: A contingency model of multinational subsidiary performance, Marketing Science, Vol. 27, Issue 5, pp. 886 -- 902
The Management Practices of Business Billionaires
One way of considering how to effectively manage a business is to consider what successful managers do. This can be achieved by reading business books written by successful managers. ho better to consider than two men who have become billionaires? This paper will consider the business books written by Donald J. Trump and Richard Branson. A consideration of their books will show their management practices, with this offering insight into what it takes to be a successful manager.
In Trump: How to Get Rich, Donald J. Trump reveals the secrets to his success in the business world. The book offers advice on business aimed at anyone interested in achieving the same kind of financial and business success that Trump achieved. The book also offers insight into Trump's experience of managing an organization with over 20,000 employees. The book is organized as a series…
Branson, R. Losing My Virginity. New York: Three Rivers Press, 1999.
Trump, D.J. Trump: How to Get Rich. New York: Random House, 2004.
S. jobs, or approx. 25% of its employees, overseas by end of 2004. The plan is to ultimately move EVERY job that supports an internal account. I also hear they are behind schedule at the moment.
Certainly, this is a very significant proportion of the computer giant's American workforce. Yet, IBM's management justifies such drastic demographic changes by appealing to the humanitarian side of the globalization debate.
It's not about one shore or another shore," an I.B.M. spokeswoman, Kendra R. Collins, said. "It's about investing around the world, including the United States, to build capability and deliver value as defined by our customers.
And to further emphasize their socially-redeeming values,
Executives at I.B.M. And many other companies argue that creating more jobs in lower cost locations overseas keeps their industries competitive, holds costs down for American consumers, helps to develop poorer nations while supporting overall employment in the United States…
About IBM." IBM.com. (No Date). URL: http://www.ibm.com/ibm/us/ .
Brotherton, Phaedra. "Meyners Pays for Performance: Changing a Compensation System Is a Sensitive Undertaking. Here's How One Firm Handled it." Journal of Accountancy 196.1 (2003): 41+.
Social responsibility in this context exemplifies the ethical principles of beneficence, justice, and non-malfeasance. More specifically, examples of beneficent corporate responsibility would be the use of corporate profits to return a benefit back to the community from where those profits were made, such as through financial support of education and social services in the community (Stevens, 2008).
Examples of justice and non-malfeasance would include purposeful decisions to avoid profitable policies and procedures that are perfectly legal but that are also associated with greater harm to the community than policies and procedures that are somewhat less profitable but safer for the community (Halbert & Ingulli, 2008). Typical examples of corporate beneficence would include the use of company profits to fund welfare organizations, to promote education and health in the community, and to provide scholarships to disadvantaged youth in the local community (Halbert & Ingulli, 2008).
More global examples of corporate beneficence…
Halbert, T. And Ingulli, E. (2008). Law & Ethics in the Business Environment.
Cincinnati: West Legal Studies.
Hursthouse, R. (2005). On Virtue Ethics. Oxford: Oxford University Press.
Mihaly, M. "Moral Theory: The Fundamentals." Ethics & Behavior Vol. 17, No. 4;
Business Use of Social Media
Social Media Marketing
Social media refers to the countless Internet-based sites and tools that facilitate and promote social interaction and networking through digitized means (Bulik, 2008). Social media marketing includes sites such as Facebook, Twitter, and YouTube, and should always be included in an organization's business plan in some capacity. Each platform leverages the power of the Internet to facilitate social interaction and allow people to keep up-to-date with hundreds of others instantaneously (Fredericks, 2012). Social media as a marketing genre has the power to bridge distances and communication obstacles in a highly personalized and direct way.
It is estimated that 75% of the global consumers who use the web regularly visit social media websites (Libert, 2011). Visitors are reported as spending anywhere from 3 to 6.5 hours a day on sites such as Facebook. Subscriptions for social media sites are growing by leaps and…
Bulik, B. (2008). Wait…Isn't This the Same as Social Networks?. Advertising Age, 79(11), 47.
Fredericks, R. (2012). We Facebook. Do You?. Journal of Housing & Community Development, 69(4), 20-21.
Libert, B. (2011). Go Beyond Facebook and Twitter. CRM Magazine, 15(2), 19-24.
McCafferty, D. (2011). Brave, New Social World. Communications of the ACM, 54(7), 19-21. doi:10.1145/1965724.1965732.
Removing losses from the company's books made the main corporation look more attractive. Enron appeared to be operating at a profit; a key factor in the valuation of any company's stock. By virtue of this "success," Enron was able to raise even more money for more investments.
The architects of all this "growth" profited accordingly. Ken Lay and his associates held large amounts of exceedingly valuable and overvalued stock. hen Enron's cheating was finally exposed, it became painfully apparent to what extent Ken Lay, Jeff Skilling, and other Enron executives had been making vast sums of money on the backs of gullible workforce, and a gullible public:
The "Enron Nine" (if we may call them that) are J.P. Morgan Chase, Citigroup, Credit Suisse First Boston, Canadian Imperial Bank of Commerce, Bank of America, Merrill Lynch, Barclays, Deutsche Bank and Lehman Brothers. These financial institutions collaborated with the now-bankrupt energy company…
http://www.questia.com/ PM.qst?a=o&d=5001896979' target='_blank' REL='NOFOLLOW'>
Alford reports that "for some, the earth moves when they discover that people in authority routinely lie and that those who work for them routinely cover up. Once one knows this, or rather once one feels this knowledge in one's bones, one lives in a new world. Some people remain aliens in the new world forever. Maybe they like it that way. Maybe they don't have a choice." (Alford, 52).
ith respect to the case study at hand here, this was an experience which afflicted me with heavily mixed feelings at Allied. The vacuum of integrity in the industry was counterintuitive to my understanding of business practices that were sensible in the long-term and that abided traditional moral conditions in their execution. As a major consequence of this paradox, I found myself often in a position where balance was crucial. The major divide between my commitment to my principles and…
Adams. G. And Balfour, D. (1998). Unmasking Administrative Evil. Thousand Oaks, CA: Sage.
Alford, C. (2001). Whistleblowers. Ithaca, NY: Cornell University Press.
Bennis, W. & Biederman, P.W. (1997). Organizing genius: The secrets of creative collaboration. Massachusetts: Addison-Wesley.
Berman, E. et al., eds.(1998).The Ethics Edge. Washington, DC: International City/County Management Association.
Those discretionary areas include sales and negotiating. These are open to flexibility, argument, discussion -- all within boundaries. The boundaries that fence them in are the non-discretionary functions of the business, those areas where the lines must not be crossed.
The non-discretionary areas have very firm guidelines, rules, and even laws and regulations that guide what can and cannot be done. It is when we violate those guidelines, that we cross ethical and/or moral standards whether or not we actually violate the law. There is no compromise in the non-discretionary areas. usiness ethics can be a very personal function rather than organizational (Cagle, Glasgo, & Holmes, 2008).
As an example, safety is non-discretionary. Safety procedures must be enforced and employees have to follow them. There is no negotiation or flexibility. If the company does not establish proper safety standards but no one gets hurt, is it a violation of business…
Cagle, J., Glasgo, P., & Holmes, V. (2008). Using ethics vignettes in introductory finance classes: Impact on ethical perceptions of undergraduate business students. Journal of education for business (peer-reviewed) (AN35201100), 76-83, Vol. 84, Issue 2.
Crane, A., & Matten, D. (2007). Business ethics: managing corporate citizenship and sustainability in the age of globalization - (peer-reviewed). Oxford, England: Oxford University Press.
DeGeorge, R.T. (2005, February). A history of business ethics. Retrieved June 15, 2009, from Santa Clara University: http://www.scu.edu/ethics/practicing/focusareas/business/conference/presentations/business-ethics-history.html
Harvard Law Review. (2009). Go directly to jail: White collar sentencing after the Sarbanes-Oxley act. Harvard Law Review (peer-reviewed), 1728 (21) (GALE Doc. #A198185467).
On the other hand, applicable laws do have authority and under the concept of moral relativism, it may be justified that any duly passed law be complied with (Svensson & Wood, 2008).
One lesson from this case might be that laws between entities in different sovereign nations can be much harder to enforce than laws between entities within the same nation. In the future, Pakistan and other nations might want to make sure that their contractual agreements contain mechanisms that make them enforceable across international borders. On a broader level, another lesson might be that ill-gotten gains should not be promoted by governments in the first place. Those who believe in the supremacy of divine law might consider the position in which Pakistan found herself to be an example of God's reminding us of the obligation to conduct ourselves ethically toward our fellow man.
Creffield, Lisa. "Why you can't…
Creffield, Lisa. "Why you can't block Skype." (August 14 -- 2006).
Halbert, Terry and Ingulli, Elaine. (2009). Law & Ethics in the Business Environment.
Cincinnati: West Legal Studies.
A McDonald's hamburger in the United tates and in the United Kingdom for example is to be sold within the same price range when the exchange rate is calculated. McDonald's has had a large amount of success in its global expansion. The reasons for this comprise a number of factors, one of which is the perceived value to the purchaser. In all countries where McDonald's is sold, the customer perceives the value of food purchased for a certain price as economically viable. The food is of the same quality and portion size globally. This kind of stability is valued by the customer.
Possible short-term problems for McDonald's relate to the daily changes in foreign exchange rates. It is hardly practicable to change prices on a daily basis. Customers have come to expect stability from the company, especially in terms of price, which makes maintaining PPP a challenge. This problem is…
Antweiler, Werner (2006). Purchasing Power Parity. University of British Columbia. http://fx.sauder.ubc.ca/PPP.html
Chapman, Alan (2005-2006). Change management. http://www.businessballs.com/changemanagement.htm
Mrak, Mojimir. (2000). Globalization: Trends, Challenges and Opportunities for Countries in Transition. Vienna: United Nations Industrial Development Organization. http://www.unido.org/userfiles/PuffK/mrak.pdf
Nishimura, Yoshiaki. (2001, March) Economic Policy for Transition to Market Economy - Overview. Economic and Social Research Institute. http://www.esri.go.jp/en/tie/russia/russia1-e.pdf
The elationship Between Ethics & Law in Business
Business is a generic term that refers to enterprise relationships between a provider of either a good or service and the client/customer or to another business. Business transactions throughout the course of history have involved a level of discretion between ethical and fair behaviour and the due process of law and litigation of various kinds. The relationship between Ethics and Law ostensibly is that of intent and accountability of intent. Ethically, the agents of a contractual obligation have a responsibility to honour the contract and each tenet stated in the contract.
Dunfee (1996) defines the relationship between business ethics and law as having attracted the attention of leading academics in the legal and philosophy profession over many decades. (e.g., Atiyah" 1981; Coleman, 1988; Dworkin, 1978; Greenawalt, 1989; Hart, 1963; Posner, 1983). Dunfee draws into question the synonym of morality to…
Alexander, K. (2006). Corporate governance and banks: The role of regulation in reducing the principal-agent problem. Journal of Banking Regulation, 7(1), 17. Retrieved fromhttp://search.proquest.com/docview/196004962?accountid=13044
Bruce, W., & McLaren, R.H. (1978). Is the government backing off from further controls on business? Ivey Business Journal, 43(3), 13. Retrieved from http://search.proquest.com/docview/225373068?accountid=13044
Dunfee, T.W. (1996). On the synergistic, interdependent relationship of business ethics and law. American Business Law Journal, 34(2), 317. Retrieved from http://search.proquest.com/docview/203397155?accountid=13044
Gachter, S.G., & nigstein, M.K. (2009). Design a contract: A simple principal-agent problem as a classroom experiment. Journal of Economic Education, 40(2), 173. Retrieved fromhttp://search.proquest.com/docview/235239663?accountid=13044
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…
Business innovation and enterprise -- Innovation in China
The buzzword of today is represented by the internationalized economic crisis which has commenced from within the American real estate sector and soon expanded to impact all sectors across the entire globe. Before the emergence of the crisis however, the buzzword was that of globalization, understood as the process by which boundaries between states are gradually eliminated and the values, beliefs, cultures and resources of one region can easily transcend to another region.
Globalization has impacted all aspects of life, from the means in which one spends their leisure time to the means in which one completes their professional tasks. Globalization has generated effects on all fields of life, from politics, to economics and culture.
Within the business community, globalization has translated into a myriad of impacts. For once, the phenomenon allowed economic agents to transcend boundaries and benefit from the comparative…
Ashton, A., 2010, 7 technologies where China has the U.S. beat, GreenBiz, http://www.greenbiz.com/blog/2010/12/07/7-technologies-where-china-has-us-beat last accessed on November 8, 2011
Chang-Rong, K., Fu-Yu, L., 2011, Cultural innovation industry exports talent to China, Want China Times, http://www.wantchinatimes.com/news-subclass-cnt.aspx?cid=1504&MainCatID=15&id=20110207000010 last accessed on November 8, 2011
Li, W., 2011, Applying Grey relational analysis to evaluate the factors affecting innovation capability: evidence from Chinese high-tech industries, Canadian Social Science, Vol. 7, No. 3
Lin, C.Y., 2007, Factors affecting innovation in logistics technologies for logistics service providers in China, Journal of Technology Management in China, Vol. 2, No. 1
Discuss specific challenges that managers face in each of the following industries that were less important five years ago.
An important challenge in the apparel industry today was also present five years ago but has become increasingly important in the interim (and looks to become increasingly important still in the years to come) is that of the difficulty that American businesses have in competing with companies overseas. This is arguably true in all fields but is especially so in those fields in which there is a high need for long hours of relatively unskilled labor.
Making clothes is a very labor-intensive process and all such industries (in both heavy and light manufacturing) are experiencing problems in today's marketplace. The decision this month of Levi Strauss to close its last American plant and to have all of its garments produced overseas is emblematic of the fact that it may…
Griffin, R. & Ebert, R. (2003). Business. (7th ed.).. New York: Prentice.
While the Inspector General authorizes all matters pertaining to the eight regional offices, the day-to-day operations and procedures of the individual regional offices are administrated by the IG. The IG supervises the audit managers in his region, sometimes among two or three remote field offices. As a typical example, Federal
egion II comprises New York, New Jersey, and Puerto ico. The egion II HHS-OIG-
OAS offices include a regional headquarters in New York City, a field office in Albany,
New York, and a field office in San Juan Puerto ico (HHS.gov, 2006).
The egion II IG maintains communications with all three OAS offices under his direction, primarily through meetings and correspondence with his audit managers in those offices. The audit managers provide operational leadership to their respective audit teams. Within each audit group forming each audit team, senior auditors supervise and assist junior auditors on an informal basis, both…
Nowalinski, G. (2001)
Brief History of the HHS Office of Inspector General
USDHHS Office of Inspections and Evaluations: Washington, DC.
U.S. Health and Human Services Office of Inspector General Public Website, Accessed September 24, 2007, at http://oig.hhs.gov/organization/OAS/index.html
They also helped wealthier buyers qualify for larger loans than they could really have qualified for, to purchase larger homes or to take equity out of the property in a booming housing market. When many of the unqualified and under-qualified borrowers began defaulting, the entire industry collapsed. The situation threatened the entire national economy because the wealth of some of the nation's largest banks and investment firms depended on the quality of those mortgage loans. Billions of dollars in stock value were based on complex mortgage-backed securities based on those bad mortgages sold by Countrywide and others.
3. What are the ethical issues that need to be addressed (be specific; cite examples)?
Countrywide violated ethical rules and the law almost every time they sold a mortgage in the years leading up to the housing market collapse. They knew that many of the buyers would probably end up defaulting and they…
The age range will be between 25 and 64, and there are a lot of doctors and other professionals such as professors and lawyers in my area making this a good choice. Approximately, then between 3% and 5% of these individuals will take their dog to daycare if it is available. By adding boarding and grooming services, I can increase the number of clients available to me by 300%-600% as well as increasing my income by 200%-#400%.
There are no other dog day-care centres in the vicinity or even within neighboring localities to compete with the business
There seems to be a potential supply of clients
Training dogs: Dogyoga (innovation); cutting-hair facilities; gymnastics
Alternate products: day-care and nourishment.
Value-added products: Vet. pecial trainer. pecialist with dogs.
#40 per hour (simple day-care)
#100 per lesson -- dogyoga
#100 per lesson -- etiquette training
#100 per lesson --…
American Veterinary Medical Association, viewed January 22, 2011,
Dog.com. Viewed January 22, 2011,
Business Culture in Lithuania
Lithuania has a very family-focused culture. Social obligations and protocols are very important. Fostering close relationships is vital to Lithuanians, both in business and in the general social environment. especting others by making eye contact is essential (Doing business in Lithuania, 2011, Communicaid: 3).
Elements of culture
National pride and traditions have been very important in Lithuania since its liberation from Soviet control. In general, as a people Lithuanians are quite conservative, so it is best to err on the side of caution and dress professionally and use formal modes of address. However, do not be overly brusque during first meetings and engage in respectful small talk that is not too intimate, but is still friendly (Doing business in Lithuania2011, Communicaid: 3).
Business practices and etiquette
"Organisations in Lithuania have a strong respect for hierarchy and authority, with structure and delegation coming from…
Dapkus, L. (2009). Lithuania anti-gay law. Huffington Post. Retrieved:
Doing business in Lithuania. (2011). Communicaid. Retrieved at:
The sales representative reiterated what the signage stated, that the sale ended that coming Sunday. Deciding to wait on the purchase, I came back two weeks later to find the set no longer $400 off, but instead 15% off, which just happened to be about a $400 savings. A new salesperson pushed the fact that this sale was ending, again on Sunday. Once more I waited and came back a few weeks later. This time, the set included the two arm chairs for free, an approximately $400 savings. I finally asked a salesperson about these 'sales' and she admitted that their sales change, because people like to think they're getting a 'deal', but they always are about the same amount off, all of the time.
This unethical behavior hurts the company in a variety of ways. First, they lost my potential business, not only on the dining room set but…
Corporate crackdown: Enron. (No date). [Motion picture]. United States: McGraw-Hill Irwin.
Villanova, M., Lozano, J., & Arenas, D. (2009). Exploring the nature of the relationship between CSR and competitiveness. Journal of Business Ethics, (87). p. 57-69.
Business Ethics: On Getting to the Heart of the Matter," Paul Camenisch proposes a redefinition business ethics by redefining business itself. According to the author, business is commonly described in terms of the provision of goods and services plus the acquisition of profit. In devising a new business ethics, Camenisch shifts attention away from profit and focusing more exclusively on the actual goods and services a business provides. Camenisch argues that the central role of business is to provide goods and services that "sustain and enhance human existence," and that these goods and services must promote "human flourishing," (271). These concepts seem abstract and nebulous, but Camenisch clarifies his position by defining "human flourishing" in specific terms: for example, businesses promote human flourishing when they do not overuse limited natural resources simply for a quick and easy profit. Central to Camenisch's argument is the concept that business is inextricably intertwined…
business and professional ethics in the movie "all Street." Discussed are the ethical principles that are violated as related to business; how greed is presented as part of American business; Gecko's view; how Buddy reacts and deals with the issues of ethics; how Buddy's view of greed and ethics evolves and changes throughout the film; what is/are the ethical dilemmas he faces and how does he handle them.
all Street, the Movie
Capitalism is said to be the path to the American dream. The barons of the early twentieth century built empires, the majority of which remain major players in the corporate world today. The goal of a capitalist is to make the best product for maximum profit and at the same time sell it at a competitive price to give the consumer the best buy, thus, acing out market competitors. The force behind this is basically self-interest. The American…
Velazquez, Manuel G. Business Ethics: Concepts and Cases. Prentice Hall. 2002.
Stone, Oliver. "Wall Street." 20th Century Fox. 1987.
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+.
Begin now creating a list of companies to complete a joint venture (JV) with. Don't go after an organic growth strategy first; it is very expensive and very much of an unknown to any western-based multinational company. Joint ventures are critical for also minimizing the amount of risk encountered when entering a new market.
Creating a cultural and political series of strategies, along with the go-to-market strategy for each specific Chinese market of interest is also critical.
Work with local universities to create learning programs to bring local students and graduates up to speed with the latest technologies and techniques for production and distribution of products set to be launched in China.
Background and Introduction
Macro-Economic Factors influencing entry into the Chinese Market
Limitations, Conclusions and Recommendations
Developing Business in China
China presents significant growth opportunities for the growth of manufacturing businesses seeking entirely new…
Premeaux's investigation into ethics and business behavior resulted in four categories that can lead to ethical problems: a) coercion and control (the use of threats or extortion to force a manager to make a certain decision); b) conflict of interest (a manager has more than one interest and if he pursues both, harm may come to the company); c) physical environment (this relates to conflict of interest that can harm the environment); and d) personal integrity (making a decision based on one's own needs can raise a red flag in terms of right and wrong even if the law doesn't specifically spell out a guideline to follow) (16).
In a survey of managers, Premeaux received 413 questionnaires to test ethical responses. The results of those surveys (there is not enough room in this paper to report appropriate data) showed that managers have "…a heightened sense of ethical awareness with most…
Bringinshaw, John. (2006). Addressing Possible Conflicts of Ethical Management. Interbeing,
Minkes, a.L., Small, M.W., and Chatterjee, S.R. (1999). Leadership and Business Ethics: Does
It Matter? Implications for Management. Journal of Business Ethics, 20(4), 327-335.
It is preisely beause the ompany deentralized its ontrolling brands into less bulky pakages that the CEO ould streamline their prodution proess and ahieve greater results. However, the Hard Rok Cafe artile showed exatly the opposite business strategy. Whereas traditionally all Hard Rok Cafe's and Hotels provided their own entertainment, the new strategy that Hard Rok is attempting to reate will link many of these operations together through the internet and digital feeds. They argue that this will allow ustomers from loal venues to experiene the large venue attrations that Hard Rok is known for. They in effet believe that greater integration of its basi operations is the key to suess. This is a sound and logial strategy, beause the importane of providing "big time entertainment" in loal venues is a very appealing and proven method for getting more ustomers. Hard Rok's onsolidation strategy allows them to go to the…
cited in one of the articles, the company inevitably fails. Therefore to understand business management is to not only look at case studies attempt to find out what makes a particular business successful, but extract the overall themes of what makes all successful businesses cutting edge. The implicit lesson from all of these articles is that business is about vision and having great vision is about being able to break down a company into many different parts and recognize how to put it together to streamline its production cycle, supply-chain, and overall branding strategy.
On a personal level I learned from these articles that corporate strategies are shaped by the particular business, rather than strategies shaping business. The essential difference between these two interpretations was something that I have never really thought about until case studies across these three different articles. Business, as a living organism grows and matures, it never stays stagnant and nor does the market that it operates in. Therefore, I must treat business like any evolutionary science, to observe what changes need to be made to shape business to the cultural, social and political policies of the modern era rather than keep analyzing them based on their past laurels.