...HAROLD PUPKEWITZ GRADUATE SCHOOL OF BUSINESS Project 1: role of ethics and social responsibility in business decision making Tobias Endjala 200414518 Business Law & Ethics Project 1 Dr Jacqui Meyer 14 January 2015 Part A Roles of Ethics 1. Definition of business ethics: Business ethics (also corporate ethics) is a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations. Or Business Ethics: can be defined as the critical, structured examination of how people and institutions should behave in the world of commerce. In particular, it involves examining appropriate constraints on the pursuit of self-interest, or (for firms) profits, when the actions of individuals or firms affect others. Why it is important to understand ethics’ role in business? * To attract customers to the firm's products, thereby boosting sales and profits * Make employees want to stay with the business, reduce labor turnover and therefore increase productivity * Attract more employees wanting to work for the business, reduce recruitment costs and enable the company to get the most talented employees * Attract investors and keep the company's share price high, thereby protecting the business from takeover. Unethical behavior or a lack of corporate social responsibility...
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...Project governance is the management framework within which project decisions are made. Project governance is a critical element of any project since while the accountabilities and responsibilities associated with an organisation’s business as usual activities are laid down in their organisational governance arrangements, seldom does an equivalent framework exist to govern the development of project’s capital investments ( Sharma, Stone and Ekinci 2009 ). Project Governance extends the principle of Governance into both the management of individual projects via Governance structures, and the management of projects at the business level, for example via Business Reviews of Projects. Today, many organisations are developing models for ‘Project Governance Structures', which can be different to a traditional Organisation Structure in that it defines accountabilities and responsibilities for strategic decision-making across the project ( Crawford, Cooke-Davies, Hobbs, Labuschagne, Remington and Chen 2008 ). This can be particularly useful to project management processes such as change control and strategic decision-making. The decision making framework of the project governance is supported by three pillars ( Klakegg, Williams, Magnussen and Glasspool 2008 ) namely: structure, people and information. 1. Structure: This refers to the governance committee structure. As well as there being a Project Board or Project Steering Committee, the broader governance environment may include...
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...Qualification | BTEC Level 5 HND Diploma in Business | Unit number and title | Unit 6: Business Decision Making | Assignment issued | <date> | Assignment due | <date> | Assessor name | <name of assessor> | Assignment title | Enhancing Business Decision MakingThis assignment is designed to help learners know how to use software-generated information to support the process of decision making in organizations, which correspond to Learning Outcome 4 of the unit/course.Scenario:Company A is operating in fields of providing finger-reader devices and currently focusing on developing a new version with enhanced functions. This project requires the company to develop both of hardware and software solutions. The draft schedule for the project's activities is initially estimated as below: ID | Task | Preceding activity | Durations | A | Design device | - | 18 | B | Develop prototype device | A | 20 | C | Produce device | B | 12 | D | Design software | - | 22 | E | Code software | D | 18 | F | Test software | E | 20 | You are recently assigned as the leader of this project group. In the next week, you have to present the detailed project schedule to the Board of Management (BoM). In addition to developing the new version of finger-reader machine, the BoM of your company is also considering two other projects that might strongly affect to the whole business activities of the company.The first project (Project M) relates to providing technical advisory...
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...computer revolution and its impact on the way business is conducted 4. Become familiar with critical-thinking skills in identifying information systems problems and how to investigate existing literature about hardware and software solutions to problems. 5. Know the components and functions of computer systems, both hardware and software. 6. Become familiar with the advances in networking, data communications and the Internet and how they affect the way business is conducted. 7. Identify which information technology tools are used to solve various business problems. 8. Develop proficiency solving business problems using modern productivity tools (e.g., spreadsheet, database) or creating custom programs. MIS 301: Statistical Analysis for Business At the end of this course students should be able to: 1. Use data from a sample to make inferences about a population. 2. Apply probability theory in decision making situations. 3. Formulate hypotheses for decision making and research. 4. Analyze data using appropriate statistical techniques. 5. Interpret the results of statistical analysis. 6. Present statistical results using graphics, text, and the spoken word. MIS 302: Introduction to Operations Management At the end of this course students should be able to: 1. Define the role of operations and supply chain in an organization and its interactions with business functions such as accounting, finance, and marketing. 2. Develop the basic business and operations strategies...
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...Accounting for Planning and Control Managers in making investment decisions are faced with the problem of limited resources. This, therefore, necessitates an understanding of the topic of capital budgeting. Capital budgeting is the process of determining and pursuing investments which cash flows are expected in the future period usually more than a year. It entails the decision on the acquisition of new assets or equipment that is to be utilized by the business to increase its future cash flows and profitability. Managers are, therefore, faced with the challenge of determining which project to invest in order to avert the adverse effect on the financial performance. In making investment decisions, various factors must be considered. Managers have to know that the success of the business entirely depends on how best the investments are analyzed before they are undertaken. First, capital budgeting requires large capital outlay (Dugdale 16). Most of the capital budgeting decisions require a large proportion of business funds. It, thus, implies that failure to make proper investment decisions will lead to losses for the organization. Secondly, investment decisions are irreversible. After deciding on what projects to invest in, managers will lack the ability to reverse their decisions, i.e., equipment once acquired cannot be easily disposed of. The managers must therefore be careful before settling on a particular investment projects because of this nature. Moreover, in analyzing...
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...International Brief Contents Part One Chapter 1 Chapter 2 Chapter 3 Chapter 4 Part One Project Organizations, Management, and the Networked Enterprise 1 Information Systems in Global Business Today 2 Global E-Business: How Businesses Use Information Systems 38 Information Systems, Organizations, and Strategy 80 Ethical and Social Issues in Information Systems 124 Analyzing Business Processes for an Enterprise System 165 Part Two Chapter 5 Chapter 6 Chapter 7 Chapter 8 Part Two Project Information Technology Infrastructure 167 IT Infrastructure and Emerging Technologies 168 Foundations of Business Intelligence: Databases and Information Management 222 Telecommunications, the Internet, and Wireless Technology 260 Securing Information Systems 312 Creating a New Internet Business 351 Part Three Chapter 9 Chapter 10 Chapter 11 Chapter 12 Part Three Project Key System Applications for the Digital Age 353 Achieving Operational Excellence and Customer Intimacy: Enterprise Applications 354 E-Commerce: Digital Markets, Digital Goods 388 Managing Knowledge 428 Enhancing Decision Making 470 Designing an Enterprise Information Portal 508 Part Four Chapter 13 Chapter 14 Chapter 15 Part Four Project Building and Managing Systems 509 Building Systems 510 Project Management: Establishing the Business Value of Systems and Managing Change 552 Managing Global Systems 592 Redesigning Business Processes for Healthlite Yogurt Company 629 International Case Study 631 Your Digital...
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...Accounting and Decision Making Techniques Assingment MFP/MBA April 2012 – July 2012 Semester By Pyae Thu Aung Student ID: B0340LSTH0412 Student Name: Pyae Thu Aung Student ID: B0340LSTH0412 Accounting and Decision Making Techniques Table of contents (a) Why is the investment appraisal process so important? ……….......................1 (b) What is the payback period of each project? If AP Ltd imposes a 3year maximum payback period which of these projects should be accepted? ………………………………………………….……..............1 (c) What are the criticisms of the payback period? ................................................2 (d) Determine the NPV for each of these projects? Should they be accepted? Explain why? ……………..…………...….…………………….…2 (e) Describe the logic behind the NPV approach?......……..……………………...3 (f) What would happen to the NPV if: (1) The cost of capital increased? (2) The cost of capital decreased? …………………………………………....3 (g) Determine the IRR for each project. Should they be accepted? ...…………...4 (h) How does a change in the cost of capital affect the project’s IRR? ………….6 (i) Why is the NPV method often regarded to be superior to the IRR method? …6 (j) References ……………………………………………………………….............7 Student Name: Pyae Thu Aung Student ID: B0340LSTH0412 Accounting and Decision Making Techniques (a) Why is the investment appraisal process so important? Decisions on investment, which take time to mature, have to be based on the returns that investment will...
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...IFAC Board Exposure Draft November 2012 Comments due: February 28, 2013 Professional Accountants in Business International Good Practice Guidance Project and Investment Appraisal for Sustainable Value Creation IFAC’s mission is to serve the public interest by: contributing to the development of high-quality standards and guidance; facilitating the adoption and implementation of high-quality standards and guidance; contributing to the development of strong professional accountancy organizations and accounting firms and to high-quality practices by professional accountants, and promoting the value of professional accountants worldwide; and speaking out on public interest issues. The PAIB Committee serves IFAC member bodies and professional accountants worldwide who work in commerce, industry, financial services, education, and the public and not-for-profit sectors. Its aim is to promote and contribute to the value of professional accountants in business. To achieve this objective, its activities focus on: increasing awareness of the important roles professional accountants play in creating, enabling, preserving, and reporting value for organizations and their stakeholders; and supporting member organizations in enhancing the competence of their members through development and sharing of good practices and ideas. Copyright © November 2012 by the International Federation of Accountants (IFAC). For copyright, trademark, and permissions information, please see page...
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...Southern Rail Balcombe Case Study Module Title: Planning and Decision Making Assignment Title: Southern Rail Balcombe Station Case Study (RESUBMITION) Student ID: 473482 Contents Page 1. Introduction 2. Planning & Decision Making 3. Management 4. Information Systems 5. PESTAL 6. Decision Making Models 7. Contingency Planning 8. Recommendations/Conclusion 1.0 Introduction This report will be a detailing and taking into regard the planning & decision making of a project and what would be the best choice for the train station Balcombe which Southern Rail own as the station is facing a few issues. This report will give suggestions on which choices would be most suitable for Southern Rail and why, as well as using different decision making models to help show why the appropriate decision was chosen. Also as Southern Rail have stakeholders in the business; the report will discuss what would be the best forms of contact to these stakeholders so they are always kept up to date on what is happening with Balcombe train station. As it is possible aspects of change could not always follow the plan that has been created it is important that in the report it will specify what could possibly affect the changes and then what contingency plans will be in place in order to overcome the potential issues. The two options which Southern Rail could potentially carry out are; the first one is to renew and repair the...
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...Report on Business Decision Making ( Prity) INTRODUCTION Because of the globalization everyone can do business wherever find profitable place or location, for technological development it become easier and accessible to do business one corner from another corner of the world. Although there is lots or benefits for technological advancement, for operating every business in every place there are some problem also. So for effective business organization should plan for their project. For market research, Abacus Research and Analytics (ARA) a research institute, this institute is going to do a research on consumer behaviors and attitudes towards Food Discount in Retailing by Wm Morrison in Greater London for providing the customer better services. This research will help the organization to take correct and concrete decision for the improvement of customer service for customer satisfaction. Amicus company ltd., Royal company ltd., and . Every company has some problem to operate business although these companies located in good places. These companies want to acquire customer satisfaction by improving customer services. So for better improvement in customer services, Abacus Research and Analytics (ARA) is doing a research for taking correct decision. Abacus Research and Analytics (ARA) collect their information from primary and secondary sources which are authentic as well as accurate, and necessary tools which are relevant to this research used to analysis and calculating data...
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...Discussion Questions for Chapter 1 1. What is Chapter 1’s main point? Chapter 1 primarily talk about the art of Decision Making. Different types of audience employ different types of decision criteria in different scenarios. It also touches base with the similarities & differences of the decision making criterias among the different types of audience members. Another very interesting factor that this chapter brings up is the Audience expectations. In the words of author – “Expert audiences expect professionals to address their decision criteria.” He illustrates & make his point using the smartphone MBA case. The first chapter also introduces the concept of Decision matrixes. That’s one tool using which audiences decide what information they want from professionals and the information that will fill their decision schemata. 2. Fill in a decision matrix that describes one of the schemas you use to make decisions on your job. I use the following decision matrix to make decisions on my job. Decision Criteria | Benchmark | 1. Meets the requirements | Proposed solution should meet the stated business needs within the stated boundaries. | 2. Operational feasibility | Proposed solution should fit in well in the organization. It is also a measure of how people feel about the system/project. | 3. Technical feasibility | Proposed solution should be practically considering a specific technical solution and the availability of technical resources...
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...Decisions in Paradise Part 2 University of Phoenix Critical Thinking: Strategies in Decision Making MGT/350 August 07, 2011 Decisions in Paradise Part 2 This paper reports on a company named “Drinks in Paradise” and the focus of the research that revolves around how critical thinking is used or how it affects a business decision. Drinks in Paradise wishes to expand their company to a location in Paradise. Nik is a new employee, the company has sent him to complete a business evaluation, and then to report his findings back to upper management. Nik will need to do a cost analysis of the situation and use the six systematic steps of the decision making process together with a cost benefit analysis in order to start the operation. To make an analysis every department has special techniques or tools they use. These tools check the feasibility and workability of a plan, and any unforeseen events. To make solid, sound, logical, and error free decisions is an important step from the beginning. “Critical thinking is thinking that proceeds on the basis of careful evaluation of premises and evidence and comes to conclusions as objectively as possible through the consideration of all pertinent factors and the use of valid procedures from logic” (Callahan, 1998 Par 1). Cost benefits analysis is a tool that can be used and will assist Nik and his team in conducting a financial analysis. This technique will help decide if a plan is a good one or not. Financial analysis...
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...the company is now working on a big project for Microsoft, and the project team faces some difficulties in making a crucial decision. Factors Making the Situation Difficult The first factor that influences the decision-making is communication problems. The most effective way to communicate is face-to-face. However, the communication between the Mexican team, Hungarian team as well as the leading team is severely challenged by geographical distance. In fact, communicating by email and phone call does not help build a good relationship, thus leading to trust issues among different teams. In this case, the Hungarian team shows a little arrogance and believes that Visual Factory is the best solution because they are more experienced. Also, due to their business culture, the Hungarian team members take pride in their self-invented software and hold prejudice towards Datasweep. Another factor that matters is the organizational structure, causing the inefficient allocation of authorities to account managers and project managers. The project team is supposed to function among different facilities and meet customer’s needs. Nevertheless, the group is so dispersed in different locations and departments that it has no real power. For instance, Porter and his team clearly stated that they would switch to Datasweep only if it is Michael’s order. The case reveals that Flextronics has a corporate culture that decentralized decision making is the norm. Corporation culture usually...
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...affecting its revenue, the business had thrived very well in the sales of furniture. The new competition has latest state-of-the art manufacturing technology, which enables it to sell its furniture at a relatively reduced price because of lower cost of production (University of Phoenix, 2011) Competition brings the best out of business, so this has made Guillermo to want to step up production to a higher level by acquiring machineries to boost the quality of its furniture. The company’s biggest challenge is in trying to reduce production cost to meet up with competition. Guillermo has three options, which include working the same way it always has handled projects without making any changes, to improve production level and reduce production cost by investing in modern machineries, the third option is for Guillermo to distribute or broker for another furniture company. This situation best suits a competitive economic environment; it makes investors to make their products and services better and cheaper to attract patronage by customers (University of Phoenix, 2011). This paper will lay emphasis on analyzing Net Present Value (NPV), which can create ideas and enhance decision-making by financial management that would help bring economic proficiency and value through in-depth observation of financial transactions. Break- even point As the budget for capital investment is prepared, it is necessary to take note of the point at which the business breaks even. The outcome can...
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...Finance theory and Financial strategy Strategic Planning means several things. But it certainly is a part of the decision-making in resource management of the business benefits. Finance theory has significant advantages in understanding the function of capital markets, the valuation of real assets and financial assets. Discounted cash flow analysis(DCF) is a tool that derived from finance theory which has been widely used. However finance theory also has little effect on strategic planning and there are three differences between financial theory and strategic planning: 1. Traditional financial theory and strategic planning might have some differences in language and culture. 2. Discounted cash flow analysis might be used in an incorrect way of strategy therefore it is not acceptable in terms. 3. Discounted cash flow analysis might fail to apply a strategic, even if it is used properly. The most relevant financial concepts in strategic planning is firms’ capital investment decisions and it is also a critical component of “financial theory”. The theory is focused on cash flow and return on the investment. The tool used in investment decisions is net present valued (NPV) which was calculated from present valued minus required investment or which was reduced to discounted cash flow formula because the net present value is a matter of cash flow that will gain in the future. [pic] ...
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