...Exercise 1. MICROECONOMIC ISSUE Ethical Issues in Business. It seems that every day lately we are confronted with a new company that has acted at least unethically and possibly illegally in the operation and financial reporting of their company's business dealings? Briefly discuss one of these issues. How would you expect this to affect the equilibrium price and equilibrium quantity for this company's products and services? Is the elasticity of demand or supply affected? What about the effect on production levels and costs? Are ethical issues more likely to occur in one market type rather than another market type? You don't have to cover all of these topics. Ethical Issues in Business. It seems that every day lately we are confronted with a new company that has acted at least unethically and possibly illegally in the operation and financial reporting of their company's business dealings? Briefly discuss one of these issues. How would you expect this to affect the equilibrium price and equilibrium quantity for this company's products and services? One of these issues is the over reporting/ under reporting of net income. The company management seeks to show that every quarter the net income of the business has grown. In order to show this they adopt unethical means/illegal means in the operation and financial reporting. One such method is the indiscriminate use of stock options for employees that enable companies to take employment costs off balance sheet and inflate...
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...Code of Ethics Paper Learning Team C: Cynthia Anderson, Heaven Bagley, Lewie Hodge, Rachel Cluff, and Yvette Allen HCS/335 Due: 09/26/2011 Mayo Clinic’s work is well known for many specialties, ranked in the top ten for most of them, the biggest thing that this not – for – profit organization is concerned with is, the care and satisfaction of the patients they serve. Patients from all fifty states travel to the Mayo facilities for treatment because they hold their employee and facility standards to high ethical and moral standards. The motto of the patient comes first plays a big part in way the Mayo facilities operates on a daily basis. As we take a look at some of the facts about the Mayo Clinic, we will see the reason for their success. Mayo Clinic’s Mission is, “To inspire hope and contribute to health and well-being, by providing the best care to every patient through integrated clinical practice, education and research.” They value Patients above all else and thrive to maintain the values of the original founders of Mayo. They pride themselves on respect, compassion, integrity, healing, teamwork, excellence, innovation, and stewardship. From the latest, Best Hospital rankings, four thousand eight hundred and twenty-five hospitals were looked at and only one hundred and forty were chosen Mayo clinic was one of those clinics chosen. Out of sixteen specialties ranked within each facility, eight of Mayo’s...
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...Right now we live in the digital age. Almost any business needs a website to be able to produce better profits. With this semester taking e-commerce was a smart choice and has made me set two goals for myself. The first goal is to be able to have good security when dealing with people online. If the system is hacked in any way the clients will want to know that their information is protected. That said e-commerce security is my first goal to accomplish by the end of the semester. The other goal that is set for this course is the understanding of the ethical, social, and political issues on the web today. To offend someone with an idea or product is very easy in this politically correct world. For me to understand how to have a successful business without offending anyone would be spectacular. This course would be beneficial for all people who would like to work with this century’s technology. How to build a website for a business and keep it going is essential for most professions. To know how to build a professional profile across the Internet with security is going to increase business with a better chance of profits. For example, Amazon is the first online-only store that started the whole ordering an item(s) and has them shipped to a person’s front door. Years later this company is a house hold name that is worth billions. That is what this course can teach me, to show how to start brand from scratch and build it. I am excited about being able to learn how to be able...
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...strategy, Penetration strategy would fit better in this product because the product does have other competitors, such as BRITA or PUR. Determine and discuss pricing tactics (product line pricing, value pricing, differential pricing, or competing against private brands) to be used for your product. To ensure the firm’s pricing objectives such as to achieve a target return, maximize profit, increase sales volume and to meet competition, I will have to determine a strong pricing tactics through analyzing product line pricing, value pricing, differential pricing, or competing against private brands. SONO filter will offer competitive pricing scale to its product line: including stylish water filter jugs, filtered cartridges and filtered water dispensers. While SONO products are not necessarily the cheapest on the market, the company believes they offer great value for money given the expertise SONO brings to the water filtration market, and focus on delivering innovation in water filtration. Now a day’s increasing numbers of consumers are looking for triggers of brand quality when making purchasing decisions. To ensure value pricing SONO filter will deliver great...
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...Environmental Ethics In today’s global environment, environmental ethics have become a required practice for everyone around the world. Creating effective strategies for protecting the environment often brings ethical issues to the forefront. When people are confronted with the issues of how to get rid of hazardous waste, air or water pollution, ethics play a major role in the decision when there is an absence of laws to manage the issue. Environmental ethics is the scientific study of various issues related to the rights of individual on the environment. It is the moral relationship of human being with the environment (Jyoti 94). The actions humans do while on this Earth can affect the rights of all the beings today and in the future. Knowing what is right and wrong can help protect future generations. One must know the standards to help conserve the Earth’s resources and the consequences if they do not. Environmental ethics is a moral theory that grants moral significance to entities beyond those that are human beings (Jyoti 94). This means that humans not only have rights but all living organisms as well. We must not forget we are not the only creature living and breathing on this Earth. Amar Jyoti points out that there are two ways to approach environmental ethics: Anthropocentrism or humanistic approach and Non-anthropocentrism or ecological approaches. Anthropocentrism states that only humans have intrinsic value or value in themselves. All other things have only...
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...(Lawrence, 2014). Merck was well rewarded for its people first philosophy. Though it was ranked fifth in asset and market value, it ranked first in profits. Additionally the company had a stellar reputation of being perceived as the most ethical and socially responsible of the major drug companies (Lawrence, 2014). Today Merck Pharmaceutical’s mission statement is “to discover, develop and provide innovative products and services that save and improve lives around the world (Merck, 2015).” Reading Merck’s current mission statement lacks both the compassion of placing people first and the implied social responsibility of Mr. Merck’s statement in 1950. To be contextually correct historically in forming a view of Merck and the Vioxx recall issue, I sought to find a corporate mission statement from the period of the recall which was in 2006. According to Culp, David R. and Berry, Isobel (2007) Merck’s mission and values statement stressed that its "business is preserving and improving human life." It continued "[w]e value, above all, the ability to serve everyone who can benefit from the appropriate use of our products and services." In the context of Merck’s 2006 mission statement, Merck did not act in a socially responsible or in an ethical...
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...This case deals with the ethical dilemma that Tobacco manufactures face when selling tobacco products in third world countries. First, there is the ethical dilemma of business versus health. The opening and development of the tobacco business in Third World countries like China, Malaysia, Indonesia, India and Africa, is considered against the health consequences of tobacco use which according to an Oxford University epidemiologist, has estimated to cost 3 million lives annually rising to 10 million by 2050 without effective tobacco control program A second ethical dilemma is employment versus impoverishment, where the opportunities for work in the tobacco industry are considered against a background of malnutrition. This is a problem that is certainly worth consideration, but with those who have the power to change things reaping huge profits, I am not sure if anything will be done. 1. Use the model in Exhibit 1 as a guide and assess the ethical and social responsibility implications of the situation described Exhibit 1 is a decision tree. A model for incorporating ethical and social responsibility issues into multinational business decisions. The decisions are decided by the users’ responses to a number of relevant questions regarding the matter at hand. The first question the model asks is whether the decision efficiently optimizes the common good or benefits of the business firm, society, the economy, and the individual. From the tobacco business standpoint, the answer...
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...CONSUMER MARKETING OF PRESCREPTION DRUGS FROM A DEONTOLOGICAL PERSPECTIVE The purpose of this paper is to explore the ethics of direct to consumer marketing of prescription drugs from a deontological perspective shaped by Kant’s Categorical Imperative testing method. In researching this issue one thing that I found as interesting fact is that of the some 200 countries in the world, only the United Sates and New Zealand allow direct to consumer pharmaceutical advertising (DTCPA) (DeGeorge 320) . Clearly worldwide there is an ethical issue with allowing consumers to become aware of medications based on advertising on TV or in magazines, newspapers and billboards. I too, feel that there are ethical issues, using Kant’s Categorical Imperative we will evaluate the morality of such advertising and its consequences. I read an article by ABC contributor Larry Woodard, it grabbed my attention in the first few sentences “I sat in my doctor's office a couple of weeks ago waiting for my annual physical. I soon grew tired of all the science and car magazines and started looking around. As in most doctors' offices, most things had pharmaceutical company logos on them: The clock, the Kleenex dispenser, the calendar. But what gave birth to this column was the doctor himself. He walked out of one of the examination rooms, clipboard in hand, talking to a patient. The guy was about my age and listening intently. Then it happened. The doctor opened up a closet in the waiting room and I peered...
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...1. Determine and discuss a pricing strategy (Penetration and Skimming) The penetration pricing strategy approach is what we are going use to represent our SONO water filter products in today’s market. Since it serves as many customers as possible representing different valua¬tions, this pric¬ing model will be our best option. The advantage this approach holds for us is the low volume customers, who presumably have a relatively lower valu¬ation for water consumption, will purchase fewer replacement filters. Conversely, high volume customers, who presumably have a larger consumption rate than single families will pur¬chase more cartridges. The result will be making more money on the high valuation consum¬ers, as the price for the pitchers will be reasonably cheap for both the target consumers. It’s a brilliant pric¬ing strategy that captures the value cus¬tomers place on our product. In other words we will be approaching the market with the razor/razor blade model.2 2. Determine and discuss pricing tactics (product line pricing, Value pricing, Differential pricing, or Competing against private brands) to be used for your product. Since Sono Filter brand name and logo has enormous recognition in the Asian Market our objective will be introducing it as a new manufacture in the United States and to become a brand of choice during consumers purchasing decision. The private labeling will become a significant component of the water filtration industry and that a plethora of distributors...
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...The following document is an archived chapter from a previous edition of A First Look at Communication Theory by Em Griffin, the leading college text in the field of communication theory (all editions published by McGraw-Hill). The theory is no longer covered in a full chapter of the current edition. This document is posted on the resource website for the text www.afirstlook.com All material is copyright © Em Griffin or used by permission of the copyright holder (Note that some cartoons reproduced in the textbook could not be included in the archived documents because copyright permission does not extend to online use.) CHAPTER 19 Information Systems Approach to Organizations of Karl Weick My father worked at a large metropolitan newspaper. I was six years old when he first took me to experience the final hour before the morning edition was "put to bed." The place was alive with activity-shouted orders, quick telephone calls, and copy boys running last-minute changes to the composing room. The whole scene was like watching a huge animal struggling for survival. Many systems theorists regard the image of a living organism as an appro priate metaphor to apply to all organizations-one model fits all. Even though mosquitoes, sparrows, trout, and polar bears represent vastly different species in the animal kingdom, they all have systems to provide for nourishment, respira tion, reproduction, and elimination of bodily waste. Karl Weick is uncomfortable comparing organizations...
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...how its source can also be an easy access to addicts. Although it is considered legal, is it ethical? In this paper we study different theories in ethics, including Kantian and Utilitarian ethical models. These models provide clear analyses that guide us in deciding if pain medication distribution from pain clinics is ethical. Finally, we review and conclude if the George brother’s pain medication clinics were acting socially responsible within their communities. Given the rise of pain medication abuse and illegal reselling, pain clinics in South Florida should adhere to strict rules to provide services to those that need it and not turn their businesses into pill mills. Introduction Purposes of Paper The intent of this paper is to provide a detailed and analytical examination of the George brother’s pain medication clinics. Throughout this paper all approaches will be examined such as the legality and ethics of the case, and how social responsibility plays a role. In the past few years in South Florida, there has been a rise of pain medication addiction and the reselling of these narcotics. Pain medication clinics have done more harm than good to our communities especially ones like the George brother’s. This case also poses ethical and moral questions like when it is actually legal or illegal to distribute pain medications to consumers. To fully understand our ethical decision making, we will explore Utilitarian and Kantian ethics. Finally, social responsibility...
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...intelligence response Business idea – questionnaire- survey –data- information- intelligence Should be shared all at the department Little marketing Tactical Short term Narrow scope Marketing research Marketing research is "the function that links the consumers, customers, and public to the marketer through information — information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process. Marketing research specifies the information required to address these issues, designs the method for collecting information, manages and implements the data collection process, analyzes the results, and communicates the findings and their implications."[1] Marketing research is the systematic gathering, recording, and analysis of data about issues relating to marketing products and services. The goal of marketing research is to identify and assess how changing elements of the marketing mix impacts customer behavior. The term is commonly interchanged with market research; however, expert practitioners may wish to draw a distinction, in that market research is concerned specifically with markets, while marketing research is concerned specifically about marketing processes.[2] Market research Market research is any organized effort to gather information about markets or customers. It is a very important component of business strategy.[1] The term is...
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...printing to be possible for the first time. Marketing and advertising has since evolved from magazines, to billboards, radio, television, telemarketing, print ads, and now with the digital age booming, has become a hyper competitive industry where companies will do just about anything to attract a customer. Doing “just about anything” is where marketers and advertisers operate on a very thin line as to what is considered ethical. This strategy now includes tactics such as the use of alcohol, sex, and the targeting of children to attract consumers. Companies use the power of beer advertisements at college sporting events, sexually explicit advertisements in venues viewed by children and teenagers, and use the developing minds of small children as targets in the advertising of certain products. While these strategies may be legal, they are not always ethical. In this paper, I will challenge the use of content, tactics, perception, and target audience, while applying ethical tests and theories regarding a company’s marketing strategies. A company must have ethical marketing policies to guide their pricing, advertising, research, and competitive strategies. (www.boundless.com) My analysis will determine if the aforementioned strategies follow this standard code of ethics. Does Alcohol hit its Target? Since there is a standard drinking age in the United States of 21...
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...Content Introduction 1 1. Project background 1 2. Project definition 2 3. Project objectives 3 4. Project stakeholders and stakeholder analysis 7 5. Legal and ethical issues 9 6. Resources 10 7. Risk management 12 Conclusion 13 Appendix 1 14 Appendix2 15 Appendix 3 17 Appendix 4 18 Appendix 5 20 Appendix 6 40 Introduction With the extending of Globalization, there is a trend for students to going abroad for further study. A language company, Lyceum, make a project which aim at the foreign students in Australia. This project will create a great amount of profit and achieve the CSR at the same time for Lyceum. And this report is made to analysis the feasibility, the manipulate, and details optimizing of the project. 1. Project background The figure of overseas students in Australia who receive higher education has a increase in 2013. As October 2013 data shows, compared with the figure in the same period in 2012, there is a increase of 863 overseas college students in Australia, and the total number reached 228,263 people. (XKB, 2013) At the same time, the Australia government has also encouraged oversea students to further their studies in Australia. The Minister of Australian Department of Immigration Brendan O'Connor said: This change is to attract more foreign students choose Australia. (Connor, 2013) Lyceum is a high quality language school which is your best choice to learn English in Melbourne, Australia. Nowadays,...
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...ENTREPRENEURSHIP PROJECT BRAND RIVALRIES Name of the school : SHARJAH INDIAN SCHOOL NAME OF THE STUDENT : DAN K. JOHN CLASS : XII-E CBSE ROLL NO. : ACADEMIC YEAR : 2012-2013 TEACHER IN CHARGE : MR. JAMES THOMAS INDEX SL. NO. | TITLE | SOURCE OF THE PROJECT | PAGE NO. | SIGN OF THE TEACHER | 1 | Acknowledgement | - | | | 2 | Brand RivalryAn INTRODUCTION | www.wikipedia.org | | | 3 | PepsiAn Introduction | www.wikipedia.org | | | 4 | Pepsi the history | www.wikipedia.orgwww.pepsiarabia.com | | | 5 | Products Of Pepsi | www.wikipedia.org | | | 6 | Coca-Cola An Introduction | www.wikipedia.org | | | 7 | Coca-Colathe history | www.cocacola.com | | | 8 | Products Of Coca-Cola | www.wikipedia.org | | | 9 | Pepsi Vs Coca-Cola A Comparison | www.versus.com | | | 10 | Pepsi Vs Coca-Cola THE COLA WAR | www.slideshare.netwww.scribd.com | | | 11 | Pepsi Vs Coca-Cola Which Cola brand is the Better Investment? | - | | | 12 | Pepsi Vs Coca-Cola PRESENCE IN INDIA | www.infobarrel.com | | | 13 | Pepsi Vs Coca-Cola Marketing | www.google.com | | | 14 | Pepsi Vs Coca-Cola Advertising Strategies | www.google.com | | | 15 | Pepsi Vs Coca-Cola Conclusion | - | | | 16 | BIBLIOGRAPHY | - | | | ACKNOWLEDGEMENT I have taken efforts in this project. However, it would not have been possible without the kind support and help of many individuals...
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