business world ability communicate quickly concisely important.
Memorandum to myself: Ethics
Conventional business wisdom suggests that the sole responsibility of a for-profit firm is to make a profit. Some consider it unethical focus on anything else, given that shareholders buy stock in the corporation with the expectation of receiving a return on their investments, not funding the pet social causes of the board of directors. In fact, some might say that American capitalism by its very nature is inherently amoral given the inequalities it fosters (Tyrangiel 2012). A number of new organizations are attempting to challenge this idea. Social entrepreneurs seek to merge 'doing good' with 'doing well' (i.e., being profitable) (Elkington 2008).
For example, Change.org is a for-profit entity which generates Internet petitions that are easily disseminated through email to be signed by online readers. Change.org spreads the word about good causes and it also has proven to be…… [Read More]
Management games are simple computer simulation games that provide the player with various management scenarios and decisions to make within those scenarios. The score of the player can be calculated by the program and compared to both the scores of their peers and the ideal score for the game. This allows managers to enter the management position with some simulated management experience already in place.
The final problem that business management faces is properly managing their front line workers. Historically, managers were simply promoted front line workers who had been in the business long enough to know and understand the job and ensure that their front line workers did as well. Modernly, however, most management is hired from outside of a company and will often have little to no direct experience with the skill set that the front line agents are actually implementing. The problem arises when those managers receive…… [Read More]
Since the monopoly controls so much of the market share, the producers of goods have no choice other than to sell to the firm at lower prices, meeting their demand. This causes the market to stagnate, in that the producers of the goods must increase their production, but lower their margins (Federal Trade Commission, 2002).
The same occurs for merged companies. egardless of the type of merger, the end result is a larger company with a higher percentage of the market share. Again, this means that producers of any goods provided by the merged firm must sell at a lower cost to maintain the business of the firm. This leads to lower margins for the producers and higher profits for the merged firms (Federal Trade Commission, 2002).
There is also concern with both mergers and monopolies about ethical business practices. In a free market economy, resources and commodities are allocated…… [Read More]
Instead, the idea is to use the 360 as another tool, specifically to understand the manner in which different functions are perceived -- in all directions, horizontal and vertical. It is more likely that an effective approach to the instigation of 360 would be 3-4 measurements: (1) Not Effective, ( 2) Marginally Effective, (3) Effective, and (4) Very Effective. This would allow the tool to be an open dialog and learning opportunity.
Part 4 -- the 360 approach does not mean every single person in an organization supplies feedback for every single person. The most effective manner for this initial rollout would be to analyze the function and ask for appropriate feedback from the most local group (employee, supervisor, 1-2 peers, cross functional team member, etc.). Simms should provide evaluations and feedback for her direct reports, but, should encourage comments to flow up the chain so that she has a…… [Read More]
business world, to be able to plan and to track and also to forecast the relevant economic indicators that would make or break the business. Scenario planning is one tool that can be utilized for just this purpose. What it does is this: it helps the manager of the concern to better manage certain unexpected events that may occur, and create and develop strategies that would be able to cope with such unexpected eventualities. However, if the manager planned to use scenarios for his planning, the most important part of his plan would be to incorporate an early warning process into the plan, so that he would be able to monitor the regular environment as often as he wanted to, and as early as he wanted to, even before the proposed scenarios were played out. (Use Early Warning to Strengthen Scenario Planning)
In order to decide and to gauge the…… [Read More]
Indeed, when public policy is deemed to be culturally insensitive or discriminatory, it is often met with widespread anger and roadblocks to eventual implementation. Understanding the nuances of cross-cultural relationships between the public sector and its citizens will help prevent problems like this.
Problems of this type are also often experienced in the private sector, as firms attempt to build lasting cross-cultural relationships. In the private sector, however, the value of these relationships has made training for them an important goal. With my knowledge of organizational behavior, financial management, human resources management, communication, ethics, and cross cultural leadership, and its application to the private sector, I hope to expand my research into the private sector, investigating how prepared the private sector is to deal with these types of cross-cultural relationships and how the private sector can increase its preparedness.
Thus, my desire to enter the Doctoral program at the University…… [Read More]
Stakeholders International Business
The business world has seen many evolutions over the centuries. One constant, however, remains that the central premise of business has always been to provide in a perceived need; whether this need has been somewhat created and artificially perceived, or manifests itself as an actual need. Businesses have also always had stakeholders. The way in which businesses have managed their relationships with stakeholders have, however, also significantly evolved. During the industrial age, particularly, businesses were so focused on profit and speed of service that they tended to neglect their internal stakeholders in favor of the external ones. Externally, they tended to also favor those who could directly benefit the business over those who were directly affected by their practices. Today, business ethics are at the heart of many stakeholder relationships. One of the most significant evolutions the world of business has seen since the industrial age is…… [Read More]
Standard Deviation in the Business World Literature eview
In order to demonstrate the applicable uses of standard deviation and other measures of central tendency to the study of business-based economics, it is informative to study the empirical research conducted by researchers with expert knowledge in the field. To that end, an article titled "A obust Mean Absolute Deviation Model for Portfolio Optimization," which was jointly authored by Korean researchers Yongma Moon and Tao Yao, has been chosen for further review. Published in the scholarly journal Computers and Operations esearch in 2011, this comprehensive combination of literature review and statistical modelling is intended to test the efficacy of applying standard deviation to the process of portfolio optimization. In this paper, the authors develop a robust model for portfolio optimization based on their own amalgamation of economic and financial data points. The purpose of this research is to expand the base of…… [Read More]
Price setting in the business world is essential to success, because price strikes the balance between the competitiveness of the product in the marketplace and the ability of the company to cover the costs of providing the good or service. Thus, price setting has two dimensions. From a market competitive standpoint, the price defines the positioning of the product within the marketplace. A good example can be found with major sports apparel brands (e.g. Nike, Adidas) or sunglasses. Most of these goods are produced at a cost that it not much more than what the cheaper varieties cost. Yet the price to the consumer is substantially higher. The reason is that these companies are seeking to define their product as markedly superior to the generic brands on the market. It might only cost another five or ten dollars to produce a good that is superior, but the price point…… [Read More]
The company's response begins positively, explaining that something can be done about the situation, or that some of the news is good. This is then followed with the negative element. The problem is thoroughly explained, including possibilities for dealing with it in a positive manner. The correspondence then ends with a return to the good news and, if appropriate, an invitation for further correspondence. In this way, bad news is presented in the position of least emphasis - in the middle of the letter. At the same time, the bad news is presented and explained clearly, without the impression that the company is attempting to minimize its importance or deceive the customer in some other way.
If a customer complains about something that is not Ben & Jerry's fault, it is not technically necessary to apologize. Indeed, some professionals recommend against it. Nevertheless, I do believe it is necessary to…… [Read More]
In the business world, and particularly in the context of big companies, change is often at the order of the day. The problem is, however, that change also incurs a large amount of uncertainty and conflict, not only among employees, but also between employees and their superiors. This could severely affect the way in which business is conducted, and has the potential to harm rather than promote effective business operations. In the case of Jack Carlisle, for example, communication, or the lack thereof, is causing uncertainty that could lead to severe consequences for the business and the lives involved if not handled with care.
At the heart of the problematic issues the company faces is communication. Giles is much more reserved than Hansen, which creates uncertainty regarding his thinking. When employees face the possibility of change and possibly also being let go from the company, this type of…… [Read More]
Fair Business Practices
The modern business world demands that managers and companies must be ethically principled. In this case, ethics alludes to moral principles coupled by the behavior of a just live or business. In business, moral principles stem from logic. Therefore, a logical manager reasons morally and abides to the reasoning in order to protect the business. The following are the top three ethical principles one would need to abide by in order to be considered successful in business.
Environmental, health and safety principles
These principles are derived from values, policies, regulatory requirements, and legal requirements. Compliance with the laws is a core value and the single most priority for anyone in the business world. This set of principles is transformed into action by performance standards, standard business operating procedures and current best business practices. All these are reinforced by compulsory annual internal audits. Frequently assessing the structure of…… [Read More]
Economics and the Business World Course Work Assessment Spotify achieved a major milestone March 2011 reached 1 millionth paying customer 6 million signed free services firmly establishing largest online music services world.
Economics and the business world
Threat of new entrants
Bargaining power of consumers
Bargaining power of suppliers
Threat of substitute products
Spotify and Virgin Media partnership and the benefits of online distributed music
Spotify is officially on of the largest music services providers of the globe, having reached a total of 1 million paying customers, and 6 million free subscriptions. The future of the company and the interest it raises from investors are however pegged to more complex issues than the number of customers. It is for instance important to assess the industry in which the company activates, the nature of competition, the potential for partnerships…… [Read More]
In business, a regression analysis is a statistical technique for estimating the relationships among variables. It includes many techniques for modeling and analyzing several variables, when the focus is on the relationship between a dependent variable and one or more independent variables. In this instances, sales volume and hours worked can be plotted on a regression line. This allows managers to see a relationship between the two variables as it relates to sales volume. Depending on the result, or trend, managers are better able to forecast future sales growth (Freedman, 2005).
Another very common sales forecasting technique is that of trend projections. When numerical data are available, a trend can be plotted on graph paper to show changes through time. In this instance, sales volume growth can be depicted on the graph to show either a growing, or declining trend. If desired, the trend line can then be extended or…… [Read More]
conflict coaching practices in the business world. It consists of a set of arguments that support conflict coaching theory and practices for the betterment of an organization, as well as a critical analysis which highlights some of its drawbacks and challenges for the managers.
This paper presents a comprehensive discussion and critical analysis of the conflict coaching theory in the context of business world. Conflicts and disputes are quite common among employees in the same departments and organizational levels. In order to resolve these conflicts and make their employees respect the values and point-of-views of their coworkers, managers need to play their leadership and conflict coaching role at the workplace. The literature is full of researches that explain the importance of conflict coaching for the efficient operations of the organization and the higher productivity of its employees. The theory of conflict coaching has been explained with a critical point-of-view by…… [Read More]
In today's competitive business world, few businesses would argue that it is vital to maintain a good relationship with current customers while working constantly to gain new ones. This is particularly so in the airline industry, where both environmental and corporate climate issues have created an environment in which increased profits have become a challenge. Hence, entities such as Classic Airlines (CA) have found themselves challenged to maintain a steady corporate culture while also investing in the constant marketing required to compete viably with other players in the market
Two of the challenges the airline has been facing include overexpansion and the rising costs of operation (Classic Airlines Problem Solution, 2009). In addition to its 32,000 employees, the company experienced a 19% decrease in ewards members and a 20% decrease in flights. In addition, the 18 months/15% cost reduction mandate implemented by the Board of Directors resulted in…… [Read More]
candidate to enter the business world.
Auditing is one of the most essential functions in the entire accounting business function. I have learned that mistakes happen; we are all human and are prone to make mistakes. However, mistakes in accounting can be incredibly expensive to any organization. Therefore the auditing process serves as the last line of defense against costly mistakes and one most important part of the accounting processes. Since organizations are prone to making mistakes on a regular basis, there have to be effective controls used to ensure that the organization is protected from these errors. Thus an audit can be the defense that ensures that the records are accurate and that organizational processes are running appropriately.
Not only is auditing required from a compliance standpoint, it is important from the perspectives of the investors and stakeholders. Transparency and accurate record keeping is the cornerstone of good business…… [Read More]
Fallacies in the business world can be fatal when making a decision. Fallacies can impede the critical thinking process, causing the decision maker to focus on solutions that are not the most appropriate, or confuse the issue at hand. For these reasons, it is important to understand what fallacies are out there and how they affect the critical thinking process. Only by being aware of them is a person able to circumvent their effects. This paper explores: equivocation, far-fetched hypotheses, and hasty generalizations.
Fallacies in the Business World
Fallacies in the business world can be fatal when making a decision. Fallacies can impede the critical thinking process, causing the decision maker to focus on solutions that are not the most appropriate, or confuse the issue at hand. For these reasons, it is important to understand what fallacies are out there and how they affect the critical thinking process. Only by…… [Read More]
Business Communication and the Workplace
Different types of relationships
elationships can be personal or impersonal, they can take on a life of their own, and they can change when we least expect it. Successful or valuable relationships require proper coaching and maintenance. As much as we establish relationships with people such as family, neighbors, and friends and so on, we have noted that the experience of love is same the only thing that changes is our preferences. Therefore, the kind of love that is received from different relationships is what classifies them into the different categories. Therefore, there are different kinds of relationships such as family relationships. These involve people that one is related to in a way. They include people one lives with in their household, the immediate family as well as distant relatives.
Friendly relationships are the relations that we share with friends, peers, colleagues and other acquaintances.…… [Read More]
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…… [Read More]
There has been little in the way of fiscal policy, and the result has been entirely predictable. ith no particular influx of spending into the economy, the recovery has generally been quite weak. ith no fiscal policy tools on the horizon, it is therefore unlikely that any improvement to the recovery will take place.
International business is also an option for a company to improve its situation. If a company wants to sell, for example, running shoes, it has a number of options for this. The company could make the shoes in one country and sell them around the world. The company could also make the shoes in a number of different countries for local sale. It is recommended that the country should take advantage of economies of scale and produce in one country. Then, the company should sell the shoes all over the world. It can use local help…… [Read More]
This in turn often leads to low inventory on the shelves to be sold at the various retailers.
The notion of reverse logistics stands for all procedures related to the recycle of products and materials. It is the process of planning, putting into practice, and controlling the knowledgeable, cost effective flow of raw materials, in-process inventory, finished goods and related information from the point of use to the point of source for the reason of recapturing worth or proper discarding. The issues for sellers and vendors is to process returns at a proficiency level that permits rapid, efficient and cost-effective compilation and return of merchandise. Customer requirements facilitate command for an elevated standard of service that includes correctness and timeliness. In the end it's the logistic company's responsibility to cut down the connection from return origination to the point of resell.
This issues for supply chain flows that offshoring…… [Read More]
Massive amounts of daily emails from various sources would arrive, often reiterating the same information or even forwarding the exact same memo. This is actually an instance of the slowdown of communication and operations due to the advances in communication technology that now exist; the ease of communication has led many organizations to over-communicate to the point of redundancy and extreme inefficiency. The emphasis in research literature on communication technology is also partially to blame for this perspective (Preston et al. 2009). This is still a problem at my current organization, though to a far lesser degree, and there is a company awareness of the problem.
The message types that result from this trend were largely ineffective, impersonal, unguided, and unreasoned. They did not really take into account who the recipients were, nor whether or not it was necessary for them to receive the communication, or if they had in…… [Read More]
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.…… [Read More]
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…… [Read More]
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…… [Read More]
usiness Software Technology
The information technology industry is vitally important to the advancement of our society and our world. This discussion will explore the business software technology aspect of the industry. First, we will discuss the tasks performed by individuals in this field. We will then look at the economic impact of this segment of the industry. Finally, we will explore the benefits and rewards of working in the business software technology field.
Tasks Performed by individuals in the usiness Software Technology Field
The usiness software technology field is critical to the success of any firm. The field researches and develops software applications that allow firm's to thrive. The usiness Software Alliance explains that, "usinesses use software to collect, analyze, and present information; to buy and sell goods and services; to design better products; and to facilitate communications." ("uilding an Information Technology")
usiness software technology is particularly critical for e-business…… [Read More]
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…… [Read More]
In this context, the learning curves followed by the collective of entrepreneurs place that collective of entrepreneurs within the still larger setting of the global marketplace. Taylor and Asheim refer to an economic geography that is more than merely a map of where economic activities take place (Taylor & Asheim, 2001, p. 315). A modern learning organization integrates itself on virtually every conceivable level. Much as its individual members make use consciously and unconsciously of a variety of learning techniques in order to work together as a unit, so too do all of their learning paradigms combine to make them a single, effective player on a larger global stage.
Taylor and Asheim encourage firms to immerse themselves in the concept of economic geography, to complete, as it were, the learning curve, by employing their cognitive abilities vis-a-vis the global marketplace, and so use that marketplace as a source for policies…… [Read More]
Business Strategies and Decision-Making
Choosing a business structure can depend on a wide range of variables and it is thus essential for a manager to have a complex understanding of his company, the industry it is associated with, and business forecasts. The process of choosing a business structure needs to be considered before starting any businesses in spite of the fact that this respective process can take a significant amount of resources. Many business owners are inclined to either dedicate very little of their time to this process or even to bypass it completely. This can lead to serious issues later in the company's functioning, as business owners can come across a series of problems that they're not prepared to deal with.
Proprietorships are one of the most encountered types of business organizations, this being largely owed to the fact that they are easier to form and maintain and because…… [Read More]
Business Ethics and the Art of Inclusion: Women in White Collar America
The quantity of female CEOs at Fortune 500 companies decreased by 25% in 2018, falling from 32 to 24: this means that only 4.8 percent of the most profitable 500 firms in the world are run by women in America (Stewart, 2018). How one can achieve inclusiveness within the workplace is definitely a hot-button issue in today’s workplace, particularly given the climate. Social movements for equality and safety in the workplace for all genders such as the #metoo and #timesup movement have made companies large and small look inwards and attempt to clean house, revising their practices. This is in part because of numerous corporate scandals such as the ones at Nike and Uber that have shown white collar America still often does not provide a balanced work environment for women, even in the 21st century. This paper…… [Read More]
This is a most important question today, for it is sometimes said that the pursuit of profit ought not to be the primary and dominant goal of a business firm but rather must be balanced by concern for customers, employees, or society. In order to see what the standards for proper managerial conduct might be, we need to understand what is meant by "free market society."
Within a free market society, it is generally thought that the primary goal of a business organization is the attainment of profit. Though businesses often consider other objectives (service to customers, employee needs and well-being, assistance to the needy) it cannot be denied that the attainment of profit is the overall and guiding objective of the business organization. Thus, the first question that managerial ethics should consider is whether or not it is ethically proper to make the attainment of profit the…… [Read More]
An article by Bernard Stahl, "The responsible company of the future: reflective responsibility in business," that the one thing that is certain about the future is its uncertainty. While uncertainty has always been a constant of human life, due to technological and social developments, risk and uncertainty are going to be defining features that future companies of the future will have to face. Acting responsibly will allow companies to face risks and uncertainties, to adhere to moral standards and at the same time improve their economic viability. Developing and implementing a plan for responsible action will demand costly and significant resources, patience and the acceptance that failure can still occur. However, this approach will be much better for our country and the world at large. I look forward to having such a company after graduating.
Similarly, an article by Ken Petress, "Some thoughts about deception," stresses that "Deception is shown…… [Read More]
Total Quality Management
Total quality management (TQM) is defined as "a philosophy of organization-wide commitment to continuous improvement, focusing on teamwork, customer satisfaction, and lowering costs" (Daft 640). This definition shows the various aspects that are a part of a total quality management approach to business. These include that a TQM approach involves the whole organization, that continuous improvement is a major focus, and that there is an emphasis on satisfying customers. To consider quality management in more detail, these three aspects will now be considered. This will be followed by a consideration of the importance of quality management in business. Finally, the effects on both managers and employees will be discussed. This will provide an overview of quality management, while also showing the impact it has on organizations.
The first important aspect of TQM is that it involves the entire organization. This includes that it involves all tasks,…… [Read More]
The Inclusive orkplace
In the modern business world employees expect more and have more rights than ever. To accompany this, employees are seen as core contributors to an organization. The workplace has changed from one where employees blindly follow the guidelines of the company to complete tasks, to one where employees are central to the organization. Employees are also more educated than ever before.
In recent decades, issues like employee empowerment, collaboration, teamwork, self-managed teams and cooperation have all become important. Each of these issues have the idea of giving more and getting more at their basis. In Ideas that will shape the future of management practice (Bohl 1996, 8), human resources is described as being the way of the future, "e will see a more mature articulation of the importance of people as a firm's only sustainable competitive advantage." The change is described as giving high reward for…… [Read More]
We all have fear inside us, but we have to look inside ourselves and know that we are stronger and bigger than our fears, and we can conquer them to make ourselves happier and more successful.
Another important message from the book is that even Michelangelo had to begin somewhere and allow his passion to grow and flourish. He did not create the Sistine Chapel as his first work, he had to grow to it and become a master of his craft. This is true in the business world as well. All companies do not begin as Microsoft, and do not have Bill Gates at the helm, and even Bill Gates had to start somewhere. We all have gifts and passions that we need to allow to nurture and grow, and we all have strengths that will come out over time. We cannot start out by expecting to be perfect;…… [Read More]
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…… [Read More]
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…… [Read More]
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…… [Read More]
How important is an individual's privacy in the workplace? Is an individual's privacy in the workplace the most important consideration to be taken into account? hat constitutes privacy in a workplace environment? Do the goals and the mission of the organization supersede an individual's desire to protect his or her privacy? Is it ethical for an employer to collect and disperse personal information from employees without their knowledge? How does the philosophy of utilitarianism play into this issue? This paper delves into those questions and provides supporting information for the resolution of this issue.
After careful review of the textbook for this course, after reviewing additional scholarly resources and taking into consideration a utilitarian approach to this issue -- and after researching the Australian laws regarding workplace privacy -- this paper takes the position that an individual's privacy is indeed vitally important (and must by law be protected)…… [Read More]
Color choice, however, is highly consistent across all marketing materials, creating at least some sense of cohesion. Positioning of the course is focused on the flexibility of the program's scheduling and course offerings as well as the diversity of the professional backgrounds that students in the program possess; the actual offerings of the course are described only in vague detail in most marketing materials, with encouragement for students to contact the school and preferably to attend regular information sessions. Marketing activities include multiple small ads placed in business-relevant media that present the school's name and logo, again with consistent color-coding, but that do not offer in-depth presentations of program offerings or extensive detail about the school.
The color coding and scant use of school name and logo appears to be consistent across programs, and most marketing efforts are not program specific but rather simply advertise the school itself, which…… [Read More]
This means they set medium term goals may be up to five years. This requires that they make detailed and precise judgments, so that their medium term goals are met. This has made the methodology require sophisticated business statistical applications. (Statistical Thinking for Managerial Decisions) Long-term planning in business normally makes it necessary to make estimations regarding the future and extrapolations of the past, is used for this. The trends can be identified, but these may be accurate for a short time and in it lay the danger of forecasting by extrapolation of the past, since data cannot be expected to forecast something that has not happened. It is here that the importance of strategic planning has relevance. Strategic planning adds more control into a situation where the outcome is more likely to be taken on the probable occurrence of an event or set of events in the near or…… [Read More]
Business Ethics 9224
The Waiter ule: What Makes for a Good CEO?
Is character an essential ingredient in ethical leadership? Is it especially important in managers? In leadership, especially among CEOs, is character important?
Character: An essential Ingredient in Ethical Leadership:
Character is an essential component in an employee's personality. It shows integrity, honesty, and loyalty of that employee with the organization. When it comes to top leadership, the need to have a sound character in the personality of top managers, CEO's, and directors is highly essential for the success of the organization. In addition to performing their assigned duties and responsibilities, it is also expected from these higher officials that they would exert full efforts in achieving the organizational goals without taking any undue advantage from its public image or resources. In the past, numerous ethical scandals have been pointed which have made the organizations think twice while hiring…… [Read More]
Student accounts will be located behind a proxy server that is part of the university network. It is expected that the websites will be reasonably safe, but there is never a 100% guarantee. Therefore, it is highly suggested that students refrain from posting information that could endanger them and make them a target for phishers and theft.
Personal safety and security is the responsibility of the individual. Students must keep their passwords safe. Do not tell anyone your password. Although, you may think that you can trust someone, you never know. Students should also refrain from posting information such as their social security number, bank account, or credit cared information. They should not publish their personal address or phone number. It is believed that with a few common sense rules, the student's experience can be a safe and meaningful one. However, one must never become complacent because computer crime happens…… [Read More]
esearchers have an occasion to further organizational science and to make research practical by producing information that can impact changing organizational forms and circumstances. Pragmatically, academic researchers are not likely to get access to a company that is going through change unless the practitioners believe the research will be helpful (Gibson & Mohrman, 2001).
There have been a number of calls to augment the significance and effectiveness of organizational science to companies. The usefulness challenge cannot be defined merely as getting practitioners to value and include what academics learn. It is believed that the usefulness of research depends, somewhat, on the degree to which the perspectives of organization members are incorporated in research procedures and the results are included into those members' organization design activities that take place as their company adjusts to its changing environment. esearch is more likely to be seen as useful if there are occasions for…… [Read More]
Whether it is an accredited course or in house training seminars. Therefore, it is very beneficial, especially in today's competitive business world.
Co Worker One: I personally don't feel it is beneficial to me. My field is not related with any financial fields so the Credit Union will not pay to further my education.
Co Worker Two: The course of work for which I would like to attend is neither an approved college level course, nor towards any degree program. Therefore, the Credit
Union will not pay, so no, it is not beneficial to me.
Mary: How do you impact the Human Resources Policy?
Khema Kent, Operational Manager: As far as HR concerns, we have no impact since there is no suggestion box available.
Co Worker One: I don't feel I do.
Co Worker Two: I would like to try to persuade our HR Department to set up a suggestion…… [Read More]
What is more valuable is that the author notes you have to be continually aware of dips, because others will throw them your way, whether they are work or personally related. He uses the example of Microsoft, who has constructed "Dips so deep" that it is almost impossible to scale them and compete with them. He notes that some high-tech companies have been able to do that by altering platforms and uses for products (like Apple), but others have recognized they do not have the resources necessary to bridge that Dip, and have moved on to other areas of technology. (Think Google, who dominates the Internet search market, while Microsoft is essentially absent in that area.) the author urges readers to understand what they are extremely good at, and keep achieving, while recognizing the things they are not so good at, and quitting those to concentrate on what things where…… [Read More]
The success of any business enterprise depends on a multitude of crucial factors, one of them being the ability of its administrators to communicate in a clear and effective manner. The quality of business communications therefore, having a direct impact on the economic act, is hereby studied at four specific levels, as follows:
Interpersonal business communication
Conflict management, and last
Inter-cultural business communication
Interpersonal business communication
Melinda Knight starts her 2005 article at the premise that efficient business communications at the managerial level are quintessential for the overall success of the enterprise. Yet, despite this generally accepted notion, the managers have little actual training of interpersonal communications during their formation in universities or other non- U.S. MBA programs. While some programs have some unaligned courses of interpersonal communications in the business settings, other programs do not include the subject in their curricula at all. Knight asserts the…… [Read More]
There are minor differences in prices, quality, and features of these products. Therefore, consumers can choose those products that best match their current needs. In the new market, Technosoft will need to strive hard for building a strong customer base by producing and promoting innovative technology solutions.
v. The Bargaining Power of Suppliers:
The bargaining power of suppliers is strong against new and small scale software manufacturers while very low against top market leaders. eason being, large scale manufacturers take advantage of their financial strength and make long-term collaborations with the raw material suppliers in a view to get regular and non-stop supply. On the other hand, small manufacturers can neither make strategic collaborations nor make bulk purchases for getting discount on raw material. As a result, the bargaining power of suppliers increases against these small manufacturers.
Section 3: Marketing Plan
3.1: Potential Target Market
Technosoft specializes in operating system…… [Read More]
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.
In…… [Read More]
Thee is an advantage in this stategic view to become the biggest and best, and to do it quickly in ode to secue one's position in the maket place.
The geatest stength of the competitive positioning stategy is the ability to descibe maket conditions in a pefect maket. Howeve, its eliance of a single facto fo its analysis, the size of the company in compaison to othe companies in the maket is a key weakness. The following will summaize the compaison and contasts between the esouce-based view and the competitive positioning view of stategic planning.
Similaities of the Two Views
The esouce-based view and the competitive positions view have seveal similaities. Many of these similaities stem fom the fact that they both depend on factos that ae extenal to the company. Fo instance, the activities of consumes and oveall conditions in the economy can affect thei maket position. A majo…… [Read More]
In the wake of scandals such as Enron and others, corporate fraud still appears to be prevalent across the business world. The reasons for this can be many and varied, although greed and a sense of hubris appear to be two of the common role players. In other cases, desperation could also be a factor, where a business is in danger of failing and its owners or managers see little choice but to cheat or sing with the boat. In many of the fraud cases, questions regarding regulation also abound, where regulatory authorities appear to be unable to either identify fraudulent activity or to sufficiently monitor the actions of those involved. This appears to be at least partly the case as far as ussell Wasendorf Sr. is concerned, who recently confessed to have committed fraud as the owner of his brokerage for 20 years Huffstutter and Polansek, 2012).…… [Read More]
Employees are being rewarded for their honesty, and managers continue to encourage communication between supervisors and subordinates. Management is also looking for ways to encourage employees to tell the truth about other employees who may be involved in something dishonest or illegal (Jones, 1982). Not all employees will take advantage of this, of course, because some still believe that they will face punishment for being a 'whistle-blower', but there are laws in place now to protect the rights of employees who blow the whistle on other employees or their employers.
Employee rights have become increasing important over the last 20 years, and this is another area in which Enron had difficulties. Those people who advocate employee rights make two different arguments. The first argument is that tougher laws and regulations are needed to ensure that employees get the rights that they deserve. It cannot be left up to the companies…… [Read More]
Business by Kevin McCarthy is a book that discusses how people can effectively run their business and gain large amounts of profits and sales, without sacrificing the customer's satisfaction over a product or service provided for by a certain business organization or company. The book is actually a set of stories and anecdotes illustrating the various problems and strategies business people often face and use (respectively), and most of these stories give the readers a view of what it is like to be involved in business organization dilemmas, and how people running their own business or managing a company/business organization gets confused over what the "direction" and "focus" of their company would be, and McCarthy provides the readers suggested explanations to these problems, suggestions that are implicitly found in the stories of the book.
The book started with a story entitled, "The Interview," wherein the author quotes Bill O'Brien, former…… [Read More]
business scalable? Discuss the limitations and challenges.
One thing that often holds companies back from scaling up is the presence of "irreplaceable" staff or management, or management that believes itself irreplaceable. A company is not scalable if the management duties cannot be delegated or trained. Too often entrepreneurial ventures rely solely on the time, energy, vision and skills of one person. Even before the financials are brought into play, Alison should carefully consider whether or not opening another location would even be possible within her vision of tight control and being involved in the minutia of everyday decisions.
Beyond whether or not the business is scalable in terms of Allison, the question then needs to be answered in terms of financial considerations. As she moves more inventory and can buy more inventory from jean manufacturers, her incremental costs will decrease based on her higher volume of purchases. One thing which…… [Read More]
An example of this can be seen with the Gray Matter Ethics Game at Lockheed Martin. This is a simulation that will take the employee through a host of ethical situations that they could be facing. Where, employees and managers will be able to learn how to apply the standards to various ethical issues that are being faced. This is significant, because it shows how the company is continually practicing and addressing different ethical challenges on a regular basis. In many ways, one could argue that this is what has helped the company to become so successful. As these standards will change the culture within an environment, helping to improve the professionalism of staff and the relationship that they have with customers / suppliers. When you put these two different elements together, this highlights the how Lockheed Martin has been able to use their ethics policy, to change the way…… [Read More]
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…… [Read More]
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…… [Read More]
Business Ethics: China and Mexico
This work in writing will discuss the business ethics in view of countries that are foreign to one another and specifically the countries of ussia and China and Mexico. This work will contrast and compare the business ethics of these two countries toward providing a contribution to the global ethical perspective. The work of Ma (2010) states that business ethics "refer to the moral principles or values that govern a group of people. These principles and values distinguish right from wrong, good from evil, and thereby guide individuals in their personal and professional decision making." As noted in the work entitled "European Business and Economics Ethics: Diagnosis -- Dialogue -- Debate: Is There a European Business and Economic Ethics Approach?" presented at the Berlin September 2007 states that the economic reality in Europe today is increasingly determined by pan-European and global forces that transcend the…… [Read More]
Sustainability is a term that is often used in reference to environmental responsibility. This is the most common use of the term that many people have come to associate with "sustainability." Seldom do people consider sustainability to be associated with other areas of the business environment. Upon reading the article by Swartz (2010), two different connotations of sustainability stood out in my mind. The issue that Swartz addressed which created his very long day was accusations that Timberland was engaging in corporate irresponsibility concerning the environment. This is the only definition of sustainability that many people consider.
Swartz's reaction to 65,000 emails made me think about what I would have done as a CEO, if I had been the one to open my own e-mail inbox to find 65,000 angry emails. Upon reflection of Schwartz's response, I feel that he acted in the best way possible. First, he knew that…… [Read More]