...Topic 1: Business Organisation and Environment 1.3 Organisational Objectives • “If you don’t know where you are going, you’ll end up someplace else.” – “Yogi” Berra, Major League Baseball player and manager. Why do we need objectives? • • • • • • • • • Implement the mission/vision Focus for decision making Set target Motivate employees Have control over actual performance Provide criteria for evaluating performance Reduce uncertainty Provide sense of unity Positive image Hierarchy of Objectives Hierarchy of Objectives Mission and Vision • “Guiding Hand” • Written by senior management. Strategic Objectives • Practical Application of Mission • Allows lower management to make sense of the mission. Tactical Objectives • Elements of mission in practice • Day-today focus for all employees. Hierarchy of Objectives • Objectives run down, becoming more specific. • Overall objectives are replaced, with more relevant ones. • Hierarchy ensures consistency. Objectives • LO1: Explain the importance of objectives in managing an organization. • LO2: Distinguish between objectives, strategies and tactics, and discuss how these interrelate. Objectives • Traditional Objectives – Survival / Breakeven – Cost minimisation – Profit maximisation – Growth (market share) – Profit satisficing Market Share • Relating to this, what could some objectives be for these firms? • What was released on 29th June , 2007? • What does this chart look...
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...10 Business Ethics/Social Responsibility/Environmental Sustainability 1) Many people consider it unethical for a firm to be socially irresponsible. Answer: TRUE Diff: 1 Page Ref: 310 AACSB: Ethical Understanding and Reasoning Abilities Objective: 10.01 Explain why good ethics is good business in strategic management. Learning Outcome: Discuss the roles of ethics and social responsibility in strategic management 2) Social responsibility refers to actions an organization takes that are legally required to protect or enhance the well-being of living things. Answer: FALSE Diff: 2 Page Ref: 310 AACSB: Ethical Understanding and Reasoning Abilities Objective: 10.01 Explain why good ethics is good business in strategic management. Learning Outcome: Discuss the roles of ethics and social responsibility in strategic management 3) Sustainability refers to the extent that an organization's operations and actions protect, mend, and preserve rather than harm or destroy the natural environment. Answer: TRUE Diff: 1 Page Ref: 310 Objective: 10.05 Discuss specific ways that firms can be good stewards of the natural environment. Learning Outcome: Discuss the roles of ethics and social responsibility in strategic management 4) Good ethics is not a prerequisite for good strategic management. Answer: FALSE Diff: 2 Page Ref: 311 AACSB: Ethical Understanding and Reasoning Abilities Objective: 10.01 Explain why good ethics is good business in strategic...
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...the instructions provided in your Course Outline. A. STUDENT/S TO COMPLETE Course Name : HND in Business Student Number: Student Full Name: Lecturer Name: Edexcel Registration No Assignment No.: QCF/M/601/1024 Assignment Name: Unit 45- Business Ethics Date Due: Date Submitted: Declaration I declare that this assessment item is my own work, except where acknowledged, and has not been submitted for academic credit elsewhere, and acknowledge that the assessor of this item may, for the purpose of assessing this item: • Reproduce this assessment item and provide a copy to another member of the University and/or; • Communicate a copy of this assessment item to a plagiarism checking service (which may then retain a copy of the assessment item on its database for the purpose of future plagiarism checking). I certify that I have read and understood the Institute Rules in respect of Student Academic Misconduct. Date Student Signature B. MARKER TO COMPLETE Comment : Grade Date Marker’s Signature Assignment Title & Number: Number – QCF/M/601/1024 Learning Outcomes Covered: Outcome1 Understand different ethical perspectives in business Outcome2 Understand business objectives from an ethical perspective Outcome3 Understand ethics in workplace relationships Outcome4 Be able to assess a current ethical issue in a business. Assessment Criteria Covered: 1.1, 1.2, 1.3 2.1, 2.2, 2.3 3.1 4.1, 4.2 Issue Date: Submission...
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...0005-BTEC: Assignment Brief MAPS Associate’s Degree in BM/HRM / Accounting / Marketing Management) BTEC HND in Business (Management / HR / Accounting / Marketing) Assignment Brief Unit Number and Title Unit 26 – Business Ethics Qualification MAPS Associate’s Degree in BM/HRM/Accounting/Marketing Management BTEC HND in Business (Management/HR/Accounting/Marketing) Date Issued November 2, 2015 Assessor Ms. Aminath Aroosha Assignment title Date Due Report: November 30, 2015 Class Activity: November 9th &10th, 2015 ETHICAL ISSUES ( NAME OF THE COMPANY) IS FACING AND THE IMPORTANCE OF ADDRESSING THOSE ISSUES FOR THE SUCCESS OF BUSINESS The purpose of this assignment is to check student: 1 Understanding of different ethical perspectives in business 2 Understanding of business objectives from an ethical perspective 3 Understand of ethics in workplace relationships 4 Ability to assess a current ethical issue in a business. Instructions to Learners: 1. Please read the assignment brief carefully and follow the evidence criteria. 2. An electronic copy of your assessment must be fully uploaded by the deadline date and time. You may submit one single PDF or MS Office Word document or Google document. 3. The electronic copy should be named as “YourFullName_Unit26” 4. Hard copy of the assignment must be submitted latest by 2 pm, 01 December 2015. Assignment will only be accepted for marking if the hard copy and the electronic copy...
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...Business Communication Today, 11e (Bovee/Thill) Chapter 1 Achieving Success Through Effective Business Communication 1) Communication is the process of A) transferring information and meaning. B) listening actively. C) writing messages. D) none of the above. Answer: A Explanation: A) Communication is a two-way process that begins with the sender and ends when the receiver acquires information and meaning. Diff: 2 Page Ref: 3 Skill: Concept Objective: 1 AACSB: Communication Abilities 2) When it comes to communication skills, employers express particular frustration with A) experienced workers who shun new technologies. B) recent college graduates who haven't learned how to adapt to a professional environment. C) employees whose first language is not English. D) male workers. Answer: B Explanation: B) Employers expect employees to speak and write in a professional manner that is clear, direct, and free of slang, jargon, and other inappropriate terms. Diff: 1 Page Ref: 3 Skill: Concept Objective: 2 AACSB: Communication Abilities 3) Stakeholders affected by the quality of business communication include A) customers. B) employees. C) suppliers. D) all of the above. Answer: D Explanation: D) Stakeholders include anyone who is impacted by a company in a direct or indirect way. Customers, suppliers, and employees are all stakeholders, as are shareholders, community members, and the wider world. Diff: 2 Page Ref: 4 Skill:...
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...Excellence in Business Comm., 10e (Thill) Chapter 1 Achieving Success Through Effective Business Communication 1) Communication is the process of A) transferring information and meaning. B) listening actively. C) writing messages. D) speaking to others. E) none of the above. Answer: A Explanation: A) Communication is the process of transferring information and meaning between senders and receivers, using one or more written, oral, visual, or electronic media. The other answers are only part of the communication process. Diff: 2 Page Ref: 3 Skill: Concept Objective: 1 AACSB: Communication Abilities Learning Outcome: Discuss the challenges and importance of business communications. 2) When it comes to communication skills, employers express particular frustration with A) experienced workers who shun new technologies. B) recent college graduates who haven't learned how to adapt to a professional environment. C) employees whose first language is not English. D) male workers. E) employees who believe they are tech-savvy. Answer: B Explanation: B) Not all situations call for the same type of communication skills. If you learn to write well, speak well, listen well, and recognize the appropriate way to communicate in any situation, you will gain a major advantage that will serve you well throughout your career. The other groups of employers are not necessarily going to have trouble communicating in a professional environment at all times. Diff: 1 Page Ref: 3 Skill: ...
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...Discussion Activity 1 | 2 | The Manager as a Critical Thinker | Individual Paper 1 | 3 | Legal and Ethical Environment of Business: The Manager as an Ethical Decision Maker | Discussion Activity 2 | 3 | Team Work Plan | Team assignment | 4 | Organization Theory and Design | Discussion Activity 3 | 5 | Organization Theory and Design in the Global Environment | Team Project 1Individual Matching Exercise | 6 | Legal Environment: Courts, Alternative Dispute Resolution, and Agency | Discussion Activity 4 | 7 | Critical Thinking in the Legal Environment: Torts and Products Liability | Individual Paper 2 Discussion Activity 5 | 8 | Legal Environment: Contracts and Forms of Business Organizations | Discussion Activity 6 | 9 | Knowledge Integration | Take-home Final | 10 | Corporate Social Responsibility in a Global and Technological Environment | Team Project 2 | Assignment Details Session | Module/Topics Readings/Assignments | 1 | The Manager as a Systems ThinkerObjective 1: Apply models of critical thinking and systems thinking to address complex organizational issues.Objective 2: Reflect on seminar assignments and relate the skills and knowledge gained to personal and professional goalsCompetency : Systems Thinking | Read the following articles which you can find and download from the UMUC library databases: (A) ABI/Inform(B) Business Source Complete Hill, L.A. (2004). New manager development for the 21st century. Academy of Management...
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...Business Ethics Assignment 1 Vudmgh12019 Table of Contents Executive Summary 3 Background 3 History of ethics 4 Definition 4 Overview of all philosophies 4 Understand different ethical perspectives in business 6 Explain the background and development of theoretical ethical approaches 6 Four mains ethical traditions 6 Compare and contrast absolute and relative ethics 7 Aspect of ethical issues 9 Explain the ethical issues which can affect the operational activities of a business 9 Current ethical issues affecting business 10 Solutions 10 Understand business objectives from an ethical perspective 11 Explain how business objectives are affected by ethical considerations 11 Evaluate the implications for a business and its stakeholders to operate ethically 11 Value of Company 12 Solution in 1.3 effects on the value of Vinaphone: 12 Executive Summary Business ethics is concerned with the result that each decision affects operating-governance impact on others, both inside and outside the enterprise. It is also considering the rights and obligations of each individual, humanistic principles to be followed in the decision making process and the nature of the relationship between man and man. Vinaphone Company Telecom Services is a subsidiary of Vietnam Posts and Telecommunications Group (VNPT) activities in the field of mobile communication, providing services GSM, 3G, messaging, ... and many other fields. By researching the company, Vinaphone faced with two difficulties...
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...Table of Contents Table of Contents Table of Contents ii 1 What are the business problem(s) involved in the case? 1 2 What are the ethical issues raised by the case? 2 2.1 Formalist Analysis 2 2.2 Utilitarian perspective 3 2.3 Virtue ethics perspective 4 2.4 Descriptive ethics framework 5 3 What would Alex Brown do? 6 4 Conclusion 7 Appendix 1: Scoring two courses of action based on Formalist Perspective 8 Appendix 2: Scoring two courses of action based on Utilitarian Perspective 9 What are the business problem(s) involved in the case? Is Chinese subsidiary of Pharmacyl Inc., successful? No. Evidences are that they (1) have not achieved outstanding results in this important market, (2) have not become market leader and overtaken local competitors yet, and (3) have not created solid base to expand to other parts of the country. Why have they not been successful yet? Because they were having ineffective leadership and management practices. Evidences are that manager (1) does not know what their subordinates were doing, and (2) could not motivate subordinates to obtain good results. Why have they had ineffective leadership and management practices? Because they got serious problem with communication throughout company. Evidences are that (1) employees are struggle to tell the truth of what they think is the real root cause of the issue they are facing to their line manager, (2) manager could not communicate easily and frankly with employees...
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... |School of Business | | |MGT/216 Version 5 | | |Organizational Ethics and Social Responsibility | Copyright © 2010, 2009, 2008 by University of Phoenix. All rights reserved. Course Description This course provides a foundational perspective for socially responsible management practices in business. Special emphasis is placed on the inter-related nature of ethics, moral, legal, and social issues in managing individuals, groups, and the organization within a business environment. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: • University policies: You must be logged into the student website to view this document. • Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality. Course Materials DeGeorge, R. T. (2010). Business ethics (7th ed.). Upper Saddle...
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...Business Ethics | Table of Contents 1.1 Business Ethics: 3 1.2 Absolute and Relative ethics 3 .3 Explain the ethical issues which can affect the operational activities of a business: 4 2.1 explanation of how business objectives are affected by ethical considerations 6 2.2 evaluation of the implications for a business and its stakeholders to operate ethically 7 3.1 Assessment of the role of the company acting as moral agent: 8 3.2 Analysis of the development of mechanisms for achieving employee involvement and empowerment 9 Employee Involvement Model 9 4.1 Research a current ethical issue affecting your selected business: 10 4.2 Report on how this business could improve the ethics of their operations whilst meeting their objectives and ensuring good employer/employee relationships: 10 4.3 Design a suitable ethical code: 11 Task 1: Ethical Perspectives in Business ------------------------------------------------- 1.1 Business Ethics: Business ethics is knowing right from wrong in the workplace setting. It concerns the effects of products and the needs of people who have an interest in the company (called stakeholders). Business ethics also focuses on the well-being of everyone because of the power over society that modern businesses hold. Business ethics can be difficult to understand because there are many schools of thought that list different ways to be ethical. In attempting to understand business ethics, it's best to start with universal ethics and then move on to more specific...
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...School of Business MGT/216 Organizational Ethics and Social Responsibility | Copyright © 2010, 2009, 2008 by University of Phoenix. All rights reserved. Course Description This course provides a foundational perspective for socially responsible management practices in business. Special emphasis is placed on the inter-related nature of ethics, moral, legal, and social issues in managing individuals, groups, and the organization within a business environment. Policies Students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: University policies: You must be logged into the student website to view this document. University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality. Course Materials DeGeorge, R. T. (2010). Business ethics (7th ed.). Upper Saddle River, NJ: Prentice Hall. Trevino, L. K., & Nelson, K. A. (2007). Managing business ethics: Straight talk about how to do it right (4th ed). Hoboken, NJ: John Wiley & Sons. All electronic materials are available on the student website. Week One: Fundamentals of Business Ethics | | Details | Due | Points | Objectives | 1.1 Differentiate between ethical and moral...
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...Excellence in Business Comm., 10e (Thill) Chapter 1 Achieving Success Through Effective Business Communication 1) Communication is the process of A) transferring information and meaning. B) listening actively. C) writing messages. D) speaking to others. E) none of the above. Answer: A Explanation: A) Communication is the process of transferring information and meaning between senders and receivers, using one or more written, oral, visual, or electronic media. The other answers are only part of the communication process. Diff: 2 Page Ref: 3 Skill: Concept Objective: 1 AACSB: Communication Abilities Learning Outcome: Discuss the challenges and importance of business communications. 2) When it comes to communication skills, employers express particular frustration with A) experienced workers who shun new technologies. B) recent college graduates who haven't learned how to adapt to a professional environment. C) employees whose first language is not English. D) male workers. E) employees who believe they are tech-savvy. Answer: B Explanation: B) Not all situations call for the same type of communication skills. If you learn to write well, speak well, listen well, and recognize the appropriate way to communicate in any situation, you will gain a major advantage that will serve you well throughout your career. The other groups of employers are not necessarily going to have trouble communicating in a professional environment at all times. Diff:...
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...the world economy. We have been moving away from a world in which national economies were relatively self-contained entities. AACSB: Analytic Blooms: Remember Difficulty: 1 Easy Learning Objective: 01-01 Understand what is meant by the term globalization. Topic: Introduction 2. By offering the same basic product worldwide, firms help to create a global market. TRUE Consumer products such as Citigroup credit cards, Coca-Cola soft drinks, video games, McDonald’s hamburgers, Starbucks coffee, and IKEA furniture are frequently held up as prototypical examples of this trend. The firms that produce these products are more than just benefactors of this trend; they are also facilitators of it. By offering the same basic product worldwide, they help to create a global market. AACSB: Analytic Blooms: Remember Difficulty: 1 Easy Learning Objective: 01-01 Understand what is meant by the term globalization. Topic: What Is Globalization? 3. A company has to be the size of a multinational giant to facilitate, and benefit from, the globalization of markets. FALSE A company does not have to be the size of multinational giants to facilitate, and benefit from, the globalization of markets. AACSB: Analytic Blooms: Remember Difficulty: 1 Easy Learning Objective: 01-01 Understand what is meant by the term globalization. Topic: What Is Globalization? 4. As a result of globalization, companies rarely need to customize marketing strategies, product ...
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...local official to cover it up would not be an ethical practice. Most corporations in the United States have adopted some sort of ethics plan as their moral philosophy and everyone from the CEO to the mail clerk are responsible for adhering to these standards. In today's world, customers want to know that the companies they do business with are ethically sound and free from corruption. An ethics program is an essential tool for a company to have to ensure that it is in compliance with the law and acts on sociably acceptable norms and trends. It is the way to promote operational excellence throughout the company and ensure that everyone is on the same page. Ethics programs give employees a clear understanding of what is right and wrong in the organizations eyes. This leads to a higher performing workforce which improves the overall operational performance of a company. This program should be part of the company's overall culture and reflect in the core values or mission statement. An ethics plan is a critical component of an organization's risk management policy. The plan should be tailored to support business objectives, identify the boundaries of what is right and wrong, have a system to test and monitor the plan and ensure that the employees of the organization are trained and have the support to report and correct ethical issues. It is management's responsibility to ensure that they foster an environment that caters to ethical behavior. They must also ensure that those who...
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