...Major Ethical Issues in Business An ethical issue is a problem or a situation that requires an individual, group or organization to choose among several actions that must be evaluated as right or wrong, ethical or unethical. The ethical issues in business are in most cases abusive or intimidating behavior. examples are like lying, conflicts of interest, bribery, discrimination and sexual harassment among others. They are each discussed briefly below. 1. Lying Lying can broadly be defined as lack of integrity, incomplete disclosure and unwillingness to tell the truth. There are three types of lying, one of which is joking without malice. The other two types can become very troublesome, for example commission lying and omission lying. The causes of lying are complex and relate to both individual and organizational pressures. Commission lying is when you create a perception or belief by words that intentionally deceive the receiver of the message. For example, lying about being at work, expense reports or carrying out assignments. It involves intentionally creating “noise” within communication that knowingly confuses or deceives the communicator. Lying by commission can also be of complex forms, procedures, contacts, words that are spelled the same but with different meanings or better still refuting the truth by telling a false statement. These forms are very common especially in commercial advertising, where for instance, saying that the product is homemade yet in real sense...
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...Major risks of using BI Deploying BI using conventional methods exposes a company to considerable risk due to the time involved in implementing BI, and the technical resources needed for deployment (Zap). The average business intelligence solution costs $1.8 million and takes more than 2 years to implement (Rosen). BI systems needs to be designed to suit the business goals not start with using technology and try to suit it to the business goals. The BI system also needs to be easily adapted to any new business logic that might be adopted in the future as the business changes. The biggest risk of BI is the time taken to develop the BI solution. It can take months to develop a solution that is tailored for the business, also the ongoing maintenance can require deep technical expertise and a lot of time. To evaluate the back end of a BI solution there are a few things that need to be addressed. This includes how quickly the data structure can be developed to deliver a BI solution across all subject areas in your system. This is important in the decision of BI as the time represents the cost of developing the solution. The depth of technical skills required to deploy the solution is also important because the greater the skills needed the more the solution will cost. It also needs to be determined how much technical expertise will be needed to maintain the system and to make future modifications to keep to system up to date. This is an important factor because the amount of expertise...
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...Decision Making Process Paper Dayante McNeil MGT/230 August 14, 2014 Cedrina Charbonnet Making a Decision A situation that I can recently recall that was a difficult change to make would have to be, switching to a new job. It was a stressful situation with relocating problems, the fact I had school I was attending and a family I had to think of. All these various things had me thinking a lot about really passing up on a opportunity that might be best for and family. I had a new opportunity presented to me that would pay a lot more, and gave me a chance to move up from the position I was in. I could move up in the company. It was in a very nice area with a nice neighborhood for my children to grow up in and a lot of opportunities we may not have living where we do now. But it was in another state. Even though I had a lot of positives that came with the relocation, I also had the think of the negatives. It would take me away from my immediate family and life long friends. I would be miles away from where I grew up. I wouldn’t know anyone, and would basically have to start from scratch. But could this be a good thing? Is completely changing everything worth it? It was literally one of the hardest decisions I ever had to make. Even though it was tough, I had to make a choice. After weighing all the positives and negatives, I seriously thought about it, and I decided I would have to turn down the offer. It just wasn’t a good time to...
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...There are four different major business formation types. First I will discuss the sole proprietor formation, then the general and limited partnership, the corporation formation and then the limited liability company. I will focus on the main advantages and disadvantages of the formations and decide which one would be best for a design firm. A sole proprietorship is similar to a freelancer, in a sense that one person is the boss and has responsibility over everything. They are taxed similarly as well. One advantage is that the owner would receive all profits. On the other hand they are also responsible for all losses and debts. There are two types of partnerships. You have a general partnership where each partner is responsible for everything, good or bad. Then you have a limited partnership where the limited partner is there for investment purposes only. Having a general partner would be great for splitting the workload and finishing projects at a faster rate. But if one partner is being sued the company and the other partner is at risk as well. In a limited partnership there is usually just one general partner and it could be numerous limited partners. Limited partners basically make investments in exchange for a share of the profits from the design firm. Limited partnerships allow the general partner to run the firm without any interference. A corporation is a company or a group of people authorized to act as one. Corporations are separate legally from the people they...
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...Undergraduate business majors are a dime a dozen on many college campuses. But according to some, they may be worth even less. Now faculty members, school administrators and corporate recruiters are questioning the value of a business degree at the undergraduate level. The biggest complaint: The undergraduate degrees focus too much on the nuts and bolts of finance and accounting and do not develop enough critical thinking and problem-solving skills through long essays, in-class debates and other hallmarks of liberal-arts courses. Companies say they need flexible thinkers with innovative ideas and a broad knowledge base derived from exposure to multiple disciplines. And while most recruiters do not outright avoid business majors, companies in consulting, technology and even finance say they are looking for candidates with a broader academic background. Firms are looking for talent. They're not looking for content knowledge. Students are motivated only by grades and instructors by evaluations. But Dr. Mason believes it offers a fair approximation of reality. In a 2003 paper in the Economics of Education Review, he buttressed that model with a national survey of 259 business professors who had been teaching for at least 10 years. On average, respondents said they had reduced the math and analytic-thinking requirements in their courses. In exchange, they had increased the number of requirements related to computer skills and group presentations. It has become difficult to give...
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...James D Prendergast Management 377 Messar 1-21-2015 Mission Statements Northeastern Illinois University The College of Business and Management provides quality and accessible undergraduate and graduate education in business to a diverse student population from metropolitan Chicago and beyond. We prepare students for professional careers in an increasingly multicultural and global business environment. The college emphasizes teaching and learning through a variety of teaching methods, research (primarily applied and pedagogical) and service. Apple Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple has reinvented the mobile phone with its revolutionary iPhone and App Store, and is defining the future of mobile media and computing devices with iPad PepsiCo Our mission is to be the world's premier consumer products company focused on convenient foods and beverages. We seek to produce financial rewards to investors as we provide opportunities for growth and enrichment to our employees, our business partners and the communities in which we operate. And in everything we do, we strive for honesty, fairness and integrity. Amazon With a mission “to be Earth’s most customer-centric company, where customers can find and discover anything they might want to buy online, and endeavors to offer its customers the lowest...
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...pre-existing majors or occupations of interest. For this assignment, you will identify and examine majors and occupations to begin evaluating how they may fit with your interests, abilities, or values. Part 1: Objective: To identify the details of occupations of interest to you and to begin evaluating how they fit with your interests, abilities, or values. (3 points) Directions: Use the Occupational Outlook Handbook to research and indicate 5 items for each of the categories in the tables below. At least one of the occupations you research must derive from the results of your Strong Interest Inventory. • Occupational Outlook Handbook: http://www.bls.gov/ooh/ OCCUPATION #1: ______Financial Manager__________ | |What They Do/ Duties |How To Become One/ Education |How To Become One/ Important Qualities |Work Environment/ Work Schedule | |1. |Responsible for financial health of | |Have to have a lot of previous experience in the |Works typically in an office or bank setting | | |organization |Bachelor’s degree |financial world to be successful | | |2. |Produce financial reports |Have five or more years in another business place |Need...
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...of the problem’. Please elaborate on what this statement means to you. Operations of an Organisation deal with the overall functioning of business effectively so as to obtain determined results within a specific period. Operations is mostly related to production/manufacturing where it helps to oversee, design, decide and implement actions accordingly. It is the same for the non-manufacturing based industries too. Operational problems may lead to disturbance in stability of business and may affect the growth of business. The operations of a Company are monitored not only by the designated team and the operations manager but also by the higher level employees of an organisation who overlook the entire scenario, anticipate the threats and opportunities and implement the same for progress of business. The operations of any business run on certain principles which form the reason of its existence, performance and growth. These may be termed as the pillars of the business operations and they are: 1. Vision and mission of the Company 2. Policies, structure and system 3. Investment, infrastructure and resources 4. Management and strategies Operational problems for example can be like wastage of resources, non-fulfilment of services within stipulated time, sudden breakdown of machinery in a manufacturing unit, lack of modern business strategies and ignorant management. An example of operational problem related to the hospitality industry would be the resources. Vegetables...
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...strategic issues that Avery needs to consider? What are his options? Avery got a few options regarding key strategic issues he needs to consider. He could grow the company and enter into other segments of the business. This segment would be the plastics containers that would have potential. Other option is whether to acquire Continental Can Canada or not. The company generates $400 million in sales per year and it is the largest manufacturer in the Canadian region. That does not seem a whole lot. However, Continental’s USA business has estimated revenues of $1.3 billion which would double the size of Crown’s domestic operations. Also, Continental’s European operations generated estimated sales of $1.5 billion. Potential bidders for the acquisition are the major competitors of CCS. Avery is concerned about both options because they both have pros and cons. Entering the plastic can business segment would have the following pros: • Entering a new business segment, great for diversification • Decreasing shipping cost because of lighter weight • Made of natural resources • Plastic material can easily be formed/shaped Entering the plastic business segment would have the following cons: • Unknown business territory, no experience • Carbonation leaks after 4 month – major issue • Cannot be fully recycled Acquiring Continental Can Canada would have the following pros: • Double in size domestically, increase market share rapidly • Plastic container line would come from this...
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...and includes companies that market nonalcoholic and alcoholic items. Since growth opportunities are few compared to existing business, many members of the industry endeavor to diversify their offerings to better compete and gain share. Too, they may pursue lucrative distribution arrangements and/or acquisitions to expand their operations, product portfolios, and geographic reach. Most equities in this group are suitable for conservative investors. The largest companies offer reliable dividends, with regular increases, and above-average Stock Price Stability. There are a few selections for those that are more venturesome. Such issues might serve a particular market niche, for example, energy drinks or developing overseas markets. Generally, the group turns in a steady performance throughout the business cycle, but it will generally suffer in the most stressful of economic times PepsiCo is one of the largest food and beverage companies in the world. Its products include a variety of salty, sweet, and grain-based snacks as well as Csds and non-Csds. the company is responsible for the manufacturing, marketing, and sales of these goods. It has 18 brands in its portfolio and is headquartered in New York. PepsiCo has two divisions: bottle soft drinks and juice segment. In India the consumption proportion of both divisions are good as compare to the major competitor. PepsiCo have invested around 12000 crore in India and has the most of the market share in India in beverages industry...
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...studies/survey conducted indicates that everyone is contributing to the prevailing attrition. Attrition does not happen for one or two reasons. The way the industry is projected and speed at which the companies are expanding has a major part in attrition. For a moment if we look back,did we plan for the growth of this industry and answer will be no. The readiness in all aspects will ease the problems to some extent. In our country we start the industry and then develop the infrastructure. All the major software companies have faced these realities. If you look within, the specific reasons for attrition are varied in nature and it is interesting to know why the people change jobs so quickly. Even today, the main reason for changing jobs is for higher salary and better benefits. But in call centers the reasons are many and it is also true that for funny reasons people change jobs. At the same time the attrition cannot be attributed to employees alone. The employees always assess the management values, work culture, work practices and credibility of the organization. The Indian companies do have difficulties in getting the businesses and retain it for a long time. There are always ups and downs in the business. When there is no focus and in the absence of business plans, non-availability of the campaigns makes people too quickly move out of the organization. Working environment is the most important cause of attrition. Employees expect very professional approach and international working...
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...Economics of setting up a Tennis club clinic This study aimed to study and research on the financial prerequisites of setting up a tennis club. It details the resources needed, procedures followed and criteria adhered to when starting a tennis club. It further expounds on practices to ensure that the club runs profitability. Tennis is undoubtedly the most major game played in academic institutions; it’s played in all elementary schools, high schools and colleges across continents. A lot of financial, economic, management and HR practices need to be addressed in setting up a club club (Keighley, 2010). In this light, the paper will dwell on the economic side detailing the mandatory resources, and procedures. With this knowledge one can smoothly run a successful tennis club. The most emphasized aspect to a club is hiring a professional management team for the club (Sprecher, 2016). Coaches and managers with proficient qualifications should be hired to drive the business aspect of this venture. A coach is instrumental in nurturing talent and lessening negative experiences (Perris, 2000 ). The study further analyzes budgeting for initial set up cost, recurrent expenditures, cash flows and profitability of the club. It accounts for resources such as salaries of administrative stuff, purchase of equipment, maintenance of facilities, organization of competition, petty cash and consultation services. Therefore we cannot overlook the need for sponsorship, endorsement, talent scouting...
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...Cricket ball making has a major work area in leather processing. As each product being made in Meerut, by family owned businesses is particularly based in distinct villages, cricket ball making is situated in Shobhapur. It used to be the major business of many families but currently only a few players exist there. The reason being, entry of bigger players and more importantly, the manual work of leather processing which is a taboo in that place since it creates a stink and makes the place inhabitable. Nevertheless, manually processed leather has its own positives too which has made sure the sustenance of these businesses. We spoke to the workers making the balls. The roles are caste based. Lower caste people do the leather processing work. It’s a week-long process which involves cleaning the leather and drying it. Their own community people follow them in that line of work. In case of stitching too new workers are brought by the old ones and taught. People continue what their family business is into, for example for a family; its generations would continue to manufacture balls, which they have been doing since years. Training received As per survey they all received on the job training. There isn’t any designed or structured program for same. The tasks are distinct and roles are well clarified. A senior worker takes a junior one under him and makes him learn the process. Challenges faced at various stages of the job-task-sub-tasks One of the major concerns is availability...
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...1. Matav has had a very specified strategy that has gotten them where they are as a company today. Matav is the leading telecommunications source in the country of Hungary. I think that overall their strategy has been quite a success. I think that the success really took off when they decided to transition the company from one big group and broke it down into four different business zones. The four zones consisted of: Internet, business services, mobile and residential services. This has greatly benefitted the company because no part of the business is now put on the back burner while other parts get more of the focus. The company is more balanced as a whole since the major strategy changes. Also, the company has now been able to have multiple individuals oversee each major section of the company. The statistics have greatly proven that since the change in their strategy to go into the four major sections, the company as the on the rise from where it was. One of the greatest rises has been in their Internet services. Over the past two years Matav has seen a tremendous jump of above 40% in their customers, just in this service alone. 2. From what I discovered, Matav has very few competitive advantages over the domestic markets in Hungary. I think that Matav did have a competitive advantage until T-Mobile was able to open its market there. T-Mobile opening its market to the Hungarian community really did damage to Matav’s advantages it held over the country. Matav...
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...1. Explain your interest in the major you selected. You may describe a related experience you’ve had to that area of study and/or your future career goals. If you are applying to the Division of General Studies, explain your academic interests and strengths or your future career goals. You may include any majors or areas of study you are currently considering. Please limit your response to approximately 300 words. (Word Count: 290) When I was six years old, my mum (who works in a bank) began teaching me how to manage money. Although I was young, I learned to buy equity funds and stock, and soon after, my allowance quadrupled. I did not realize it then, but my interest in finance would benefit myself and others later. The summer after I arrived in the US, I heard news from China that girls in rural villages near my parent’s home were being kidnapped and molested. Due to Confucianism, many Chinese schools lack child safety education, and I felt I should do something to help. I returned to China, and gathered 7 friends to help teach lessons in a very poor village this past summer. While we went to a few schools, our limited funds made it impossible for us to teach at more schools. Later that summer, I got an opportunity to participate in a finance summer camp, held by China Construction Bank. During this summer camp, I learned more efficient ways to manage my allowance. I sold stocks and put all my money to more low-risk funds and some short-term financial products. Four months...
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