...stakeholders should be put into the first consideration priority when company makes decisions. Besides, company’s economic and human resource are scarce and limited, it is always impossible for company to allocate equal resources to all stakeholders, thus, company should put those who are directly affected by company and those who are closely related to company in the first priority (Kivits 2011). Stakeholder classification is used to help company identify the significance of stakeholders and attach different importance to different stakeholders. Q3 Crisis management is the process in which an organization deals with events which negatively affect the organization or the stakeholders of the organization. Crisis has some main characteristics. Firstly, it is a threat to the organization as well as its stakeholders. Secondly, in a crisis, the time for organization to make relevant decision is quite short. Thirdly, without effective crisis...
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...Introduction Ethics in digital media involves the moral problem that is associated with the adoption of new communication technologies in daily activities. New advancement of technology has resulted in different techniques that have altered the manner in which business and other activities are undertaken in the world. Examples of digital media are online journalism, blogging sites, and social media. The major concern in the ethics of digital media is the effect of information that is transmitted through these channels. Ordinarily, the role of digital media is to act as a medium of communication. However, in the case that the accuracy of the information is not controlled, it can lead to various impacts to the society. The digital media played a very significant role in the financial crisis through the spread of information. As such, this paper analyses digital media ethics in relation to the global financial crisis and its effects to the society. The World Financial Crisis The global economic crisis has caused many problems nearly to all the sectors of the economy in the world. Many countries have suffered deep in their growth domestic product while recession has a common experience all over the world. The severity of the crisis has persisted to the recent times, but this can be attributed to the debts incurred by some developed economies like Greece even after strong support from other countries. As a result, the world’s financial system experiencing these global economic crisis of severe...
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...Running Head: Accounting Principles and Ethics Article Accounting Principles and Ethics Articles Myrthe SaintLouis HCS/457 November 30, 2009 Victoria Odom Abstract A healthcare organization is one of the most successful business inside of a healthcare organization theres so many different profession within, from healthcare providers such as physician, nurses ,Medical assistants and so many more. .A healthcare organization also provide care, , consistency, and support.In addition to care being providing in health care Financial management is another important assets in healthcare organization. With todays econmy crisis healthcare organization face many financial issues for example, Decreasing revenues, increasing costs and terminating healthcare workers .Being a Mananager,Administrator in a healthcare organization is not a easy job because they have to ready lead in today’s climate and also position their organizations for later financial issues and potential political changes. . In order to have an effective financial management, organization, many health care organizations use the Generally Accepted Accounting Principles, corporate compliance, and the value of ethics. Accounting Principles and Ethics Articles A healthcare organization is one of the most successful business inside of a healthcare organization theres so many different profession within, from healthcare providers such as physician, nurses ,Medical assistants and...
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...experiencing a crisis or challenging event. It can happen at any given time without warning which can devastate any organization not prepared. A new approach to crisis management is emerging which progresses beyond a purely reactive response and creates fresh opportunities for improved organizational development. There will be discussion on the traditional event approach to crisis management, which focuses on preparing for and responding to a major adverse occurrence, and discusses the new process approach, which reshapes crisis management within a broader range of management activity. Crisis prevention instead of just crisis response necessitates moving responsibility from the operational to the executive level, and the discussion will explore how crisis management activities can be clustered together and integrated to optimize organizational effectiveness. Virtually nothing can damage organizational reputation and financial performance more rapidly and more deeply than the impact of a major crisis. Yet many organizations continue to delegate responsibility for crisis management to operational middle managers, while reputation management increasingly secures a place at the executive table. However, a significant trend in crisis management is now emerging which has the potential to reshape the discipline with substantial implications for the development of organizational structure and design. This trend is the advance of proactive crisis prevention as opposed to reactive crisis response...
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...jnebojsa@eunet.rs MGT 597 ETHICS & LEADERSHIP References Mandatory Yukl G. (2010).Leadership in Organizations. 7th edition. Upper Saddle River: Pearson Supplementary Kotter J. (1996). Leading Chnage. Cambidge Ma.: Harvard Business School Press Janićijević N. (2009). Upravljanje organizacionim promenama. Beograd: Ekonomski fakultet . MGT 597 ETHICS & LEADERSHIP The process of organizational change management Initiating Diagnosis Creating vision Planning Motivating Power management Implementation Management of personal transition Stabilization Monitoring and control UNFREEZING MOVE REFREEZING MGT 597 ETHICS & LEADERSHIP Initiating changes The first step in change management The importance of leader’s mental change In order to initiate changes, a leader has to: 1. 2. 3. 4. Recognizes causes and drivers of change; Develops his own awareness of the necessity of breaking with status quo Develops his wish to make changes and to make decision to start changes; Identifies and appoint a change agent, define his roles and responsibilities and build productive relationship with him MGT 597 ETHICS & LEADERSHIP Model of causes of organizatioonal changes External soruces – changes in environment The inertia of organization Internal sources -. Changes in the company 1 Anticipation of the crisis External and / or internal misbalance 1 2 Deacrease of performances and crisis Initiating of organizational changes MGT 597 ETHICS & LEADERSHIP Anticipation...
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...Local Lawsuit Rosemarie South Professor Charlene Bean Business Law 1 August 14, 2012 First the client must file a complaint or petition. Any complaint or petition for relief in a court must be filed within the statutory time limit. A complaint is a general statement of the plaintiff’s claim. The complaint must describe the actions that led to the claim of a violation. The claim can be for money damages. It could also be a claim for equitable remedies like specific performance of the court forcing a party to abide by a contract or an injunction like stopping a person from doing something. The complaint must establish jurisdiction of the court in which it is filed. The persons who start a lawsuit are the lead plaintiff. This is the person who have has a problem and need a lawyer to help them to get the ball rolling A lead plaintiff has a big job. And like any job, it has some benefits and disadvantages. For example: Even though the lead plaintiff starts the case and hires the attorneys, she doesn't have to pay attorney's fees or legal expenses. A lead plaintiff usually works very closely with the attorneys handling the case and participates a great deal in the court process. Only the lead plaintiff can agree to or reject a settlement offer. If he or she wins or the case is settled, the lead plaintiff is paid first after the attorneys get their fees and expenses. Service of process generally involves attaching a copy of the complaint to a summons...
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...Table of Content | | |Page | |Introduction | |2 | | | | | |Issues | |3 | | | | | |Methodology | |3 | | | | | |Finding |Responsible Party |4 | | |Leadership Role |5 | | |Image-Saving Tactics |7 | | ...
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...Daniels Fund Ethics Initiative University of New Mexico http://danielsethics.mgt.unm.edu Integrating Business Ethics in Business Courses INTRODUCTION Teaching business ethics requires an understanding of the organizational dimensions of ethical decisionmaking. Although most people believe that employees learn to be ethical at home and school and through life experiences, the work environment creates challenges for even the most ethical person. For example, employees cannot always make independent ethical decisions due to a corporate culture that has many types of managers and employees using their own concepts of right and wrong. Managers sometimes pressure employees into questionable activities. However, business ethics becomes more transparent once an organization establishes codes of ethics, as well as compliance requirements and ethical leadership. The objective of this chapter is to provide some essential strategies for integrating business ethics into business courses. The authors examine the role of stakeholders, implications of the global financial crisis, and important issues in teaching business ethics, as well as providing resources to integrate business ethics successfully into a course. THE IMPORTANCE OF BUSINESS ETHICS Business courses provide an essential and dynamic foundation for students developing their business careers. Although it is important to teach many traditional concepts such as human resources and marketing, emphasizing emerging topics that are...
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...Integrative Case stident institutuon Professor course Executive Summary The goal of this paper is to integrate what has been mastered throughout the class. To demonstrate this, one scenario was picked where a new CEO must lead a global financial services firm that has been impacted by a national financial crisis. Communication and leadership strategies will be needed. The strategies selected need to be explained and detailed how they will be implemented. Communication has to get to all stakeholders and effectively persuade all on the success of the plan. The board of directors is pressuring to receive a persuasive presentation of this plan. To finalize, the plan must have an ethical set of values that will carry the company forward. Introduction The economy has taken a downturn. Company ACMECORP (AC) was not prepared to respond in a timely and effective manner. As a result of this, the CEO, Bob Ceo was asked to leave by the board of directors and has hired a new CEO from outside the organization. The new CEO needs to set forth a plan to take the company back in track and develop a long term plan that will mitigate exposure on future downturns, and maximize profits when the economy does well. Communication was an issue which impacted response time and silenced employees that saw the financial woes that AC was facing, and frustrated vendors and members of the board. Moral at AC is in an all-time low after several waves of lay-offs and the exodus of several...
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...The crisis situation with Toyota started when leaders made a huge mistake and ignored the warning stage where no serious actions were initiated by management to take the appropriate steps. “The committee represented just one of three Congressional panels investigating the 2009-2010 recall of Toyota vehicles related to problems of sudden acceleration and the company’s delay in responding to the crisis” (Greto, Schotter, & Teagarden, 2010). This has led to the major recall started in late 2007 leading to many deaths by early 2010. Denial of malfunctions and mismanagement has led to this crisis that put Toyota’s brand in a chronic stage. In the case of Toyota, even though media brought high crises alert to the consumer, “Corporate leaders failed to be transparent and Toyota's corporate leadership team failed to effectively deal with the acute crisis stage and dissipate the enormous negative results that this stage brought into focus” (Heller, V. & Darling, J. (2011). Based on the strategic, structural, and cultural challenges, there are many apparent causes of Toyota's accelerator recall crisis. First, Toyota was desperate to drive growth globally; therefore, the key driver to such potential growth is to lower prices. “The nonfamily management was determined to accelerate Toyota’s growth with an aggressive globalization strategy” (Greto et al, 2010). Toyota’s cutting cost was the cause of installing poor quality parts and products. Secondly, in order to manufacture cheaper...
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...The Role of Leadership in Shaping Organizational Culture Laurita M Jones, MBA, MSA Walden University The Role of Leadership in Shaping Organizational Culture Leaders have a profound impact on their organization and how well their teams perform. Thus, organizational leadership plays an influential role in shaping culture and culture in return forms administration. As a leadership perception, corporate culture has been acknowledged as one of the various elements that leaders can utilize to enhance a dynamic business. The process of establishing the cultural foundation of a company begins with the appointed leadership of organizations. They do so by enforcing their assumptions and expectations of organizational culture onto their followers. High-level superiors are the major sources for communicating norms and core values in organizations. Therefore, it is imperative that leaders convey the organization leadership and cultural principles to their followers for utilizing their leadership powers to support and preserve an organizational culture that is ethical and healthy. With the attentiveness to culture in today’s business entities, and its resilient influence on the behavior of subordinates, leaders in company’s can produce a culture that supports high moral and ethical behavior. The subsequent analysis of leadership and organizational culture will attempt to discuss several mechanisms of leadership, and the role leadership plays in shaping the culture of an organization...
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...Crisis Management Plan As with any organization, one must be able to respond quickly and resolve any situation as it occurs. This is what a crisis management plan calls for, a well deigned system of communications that meets the needs of any crisis situation, preparing for the unexpected (NTA, 2003). The crisis management plan is an integral part of Riordan’s safety preparedness as it focuses on developing procedures to deal with public perceptions, and protect the company’s image, and restore credibility after a recovery from a crisis (NTA, 2003). The following is a few of the steps that Riordan will use in the development of a crisis management plan, and team setup. The plan focuses on these 6 steps: Predicting- Indentify issues before it occurs, what problems lay ahead for Riordan? Plan for every contingency beforehand(NTA, 2003). Position- Organization will decide what stance it will take on an issue (NTA, 2003). Prevention – Organization must take preventive measures to contain, and resolve crisis (NTA, 2003). Planning- A contingency or another process, when preventive measures are not effective in handling the crisis (NTA, 2003). Perseverance- As the face of the organization, the PR must stay the course with the plan in a professional manner (NTA, 2003). Evaluation- Review the action plan, make changes or determine what must be done to prevent a future recurrence (NTA, 2003). The crisis management plan for Riordan will undergo several changes...
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...Case Study : Lehman Brother’s Demise of Lehman Brothers Lehman Brother’s demise was the event that gripped the US financial system into shock. It was the fourth largest investment firm in the US as of 2007 with 25,000 employees worldwide. The Firm had an exponential growth and recognized profits from 2005 to 2006 and in 2007 reported a net income of $4.2 billion dollars on revenues of 19.3 billion. The stock price of the company reached all-time high when it hit $86.18 per share. Lehman increased 56% in its revenues only from the subprime mortgage business alone. While the company kept reaping benefits, the real estate market in the US started to show signs of pending bubble burst. In March 2007 stock market experienced biggest drop in 5 years and mortgage defaults rose up to the highest percentage in almost a decade. Investors were confident with their money as they were satisfied with Lehman’s financial statements and their past resilience with depressions. According to NyTimes “Lehman never publicly disclosed its use of Repo 105 transactions, its accounting treatment for these transactions, the considerable escalation of its total Repo 105 usage in late 2007 and into 2008, or the material impact these transactions had on the firm’s publicly reported net leverage ratio.” Later when Lehman was exposed of their use of accounting gimmicks to mislead the investors. This led the investors to lose confidence in Lehman brothers. Investors started dumping their stocks while other...
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...Ethics: Tylenol Recall Case of 1982 Developing high-quality business ethics is a crucial step in avoiding, resolving and preventing ethical problems. If companies focus on exceeding the standard expectations for ethical situations, they will be more likely to hold on to their current customers and might even attract new clientele. The Chicago Tylenol Recall is the perfect example of how the corrective actions a company takes may be able to save the reputation and restore the image it has worked hard to create. Johnson & Johnson was faced with a situation that was not necessarily theirs to blame. Someone, that was not associated with the company, had been tampering with the over-the-counter medicine. However, Tylenol took certain measures to illustrate to their consumers they were a trustworthy company that cares about their customers’ safety. The methods Johnson & Johnson used to handle the crisis had both positives and negatives, but overall, the company was able to regain the company’s image and become one of the most popular medications. 1. History and Background of Case In 1982, Chicago was hit by a string of deaths caused by tainted cyanide-filled capsules of Tylenol. Someone had been filling Extra-Strength Tylenol capsules with cyanide and returning them to drug-store shelves (Tift and Griggs). By October of 1982, seven people had been killed by the poison-laced capsules (Meadows). This caused a wave of panic in the city, state, and country as it involved...
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...Running head: MANAGING A CRISIS USING PR SIMULATION SUMMARY Managing a Crisis Using PR Simulation Summary University of Phoenix MKT/438 – Public Relations Managing a Crisis Using PR Simulation Summary The following paragraphs present an interesting scenario of a most peculiar mishap regarding one of the turbines used by an environmentally safe electric company named Greenergy. The concepts in this summary give insight into proactive planning, feedback mechanisms, examples of ineffectual deployments, when to use proactive crisis management, and reactive crisis management as is associated with PR. Most importantly, by the end of this report a clear understanding of how to manage a crisis will have been acquired. Proactive Planning Proactive planning is a concept designated to the sole purpose of being prepared prior to an action or occurrence. The ability to cope with and endure an event is always in the company’s best interest as well as all publics involved. Proactive planning is merely the thoughts and actions taken in order to forecast and deal with crisis situations in a positive manner by way of a variety of tools available to Public Relations (University of Phoenix, 2010). Feedback Mechanism The situation Greenergy found itself in affects many publics at every level. An ideal...
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