...and South Korea. It was recommended that my company use an approach to business negotiations that provides a win-win for both parties. Management was also told they needed to know the background of the Asian negotiator and that they should use a “middleman” to help them with the negotiation. Because of your work in China, the vendor would like your advice in this business dealing. The intermediary stressed the importance of etiquette and social customs in addition to the win-win model. The first thing we need to to do is research the company and their culture etiquettes. Then I will need to find the right person to conduct the negotiation and train others members involve information that they will need to know when doing business with this company as to the do’s and don’ts and how to have a win-win business negotiation. Then we should send the company our business information with the person that will be conducting the negotiation rank within our company. This will establish a first step business approach before doing business with one another. When doing business with China, Japan and South Korea the U.S. vendor must know the social customs as well as each country etiquette for this will play an important role on business negotiation. One should present there company information to each individual that it is seeking business before scheduling a meeting. When looking to do business with one of these countries it is best to know how each conduct negotiation and the right way...
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...allocation and allowing them to concentrate more on efforts on the core business. In the first quarter of 2008 The Home Depot, Inc decided to close 15 underperforming stores and still making an operating profit and $41 billion in assets. Any business needs to be able to look at and analyze their Income Statement, Balance sheet, and Statement of Cash Flow to help determine if they are successful and if they need to make any adjustments to the business operations to make it more successful. Income Statement The Consolidated Statements of Earnings tells how the business is doing in performance and profit. This statement shows the gross profit growth, operating expenses, operating income, and earnings from continuing operations before provision for income taxes, and the earnings from continuing operations. The statement for The Home Depot, Inc. shows how the business had a decrease in fiscal year 2008 of 7.8% and a decrease in Net sales. The Home Depot, Inc. reported Net Earnings of $2.3 billion in fiscal year 2008 compared to $4.4 billion in fiscal year 2007. The statement reflects some of the decisions taken to improve and the closing of the stores for that year to improve in other areas. This Income Statement is very important because it will reflect the success of the business as well as the profit that is made. This will show is an investor is willing to invest in the business or if the business can show...
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...Responsibility and the bottom line. Assessment Code: RWT1 Student Name: Michael Daley Table of Contents Executive Summary 3 Introduction 4 Research findings: 5 Business Relationships can be improved through being Ethical and Socially Responsible 5 Strong Business Ethics will increase Efficiency 6 Social Responsibility will greatly increase our company’s Reputation 7 Recommendations 8 Conclusion 9 References 11 Executive Summary Ethics and social responsibility is on the mind of everyone in the world these days. We have all seen the effects of what happens when a company does not follow an ethical standard; it can lead very quickly to its demise. A strong ethical standard and being socially responsible is a must in the world of business. There are those who think that if they can get away with things, it can lead to higher profits and a bigger bottom line. This may be true in the short term but history has shown that those with strong ethics have the longevity and reputation to make it in the long run. The research for this report will show that not only is having strong ethics and being socially responsible the right thing to do, it is the smart thing to do for our company. In all we do, we need to have good relationships with those that we need in order to conduct business. We have vendors, suppliers, stakeholders and consumers that we have to maintain a good and strong relationship with. By having a strong ethical standard and good social responsibility...
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...global business face when dealing with other countries. McDonald’s global business must know how to deal with different cultures, laws, ethical situations, etc. that can cause threat and consequences for the business. The following will compare ethical perceptions across cultures concerning different situations. Businesses operate differently in other countries and McDonald’s must adapt to the cultural to do business. For a global business to be successful is a challenge and possible risk. The influence of global economic interdependence and the effect of trade practices and agreements Legal realism in diverse countries led to key choices that entail marketing. These consist of the capability to make particular claims, the capability to sell products in particular ways, the variety of business practices that take place, and a variety of aspects. These aspects should be understood and well thought-out when creating marketing plans. Other aspects that influence marketing compose of social accountability and environmental factors. In various cultures these issues are vital and other cultures it is not a concern. McDonald’s should follow legal conditions in countries that influence social and environmental practices, and still meet the expectations of locals on these matters. If not McDonald’s could not gain the respect or trust locally and globally as a company. The importance of demographics and physical infrastructure When company’s like McDonald’s do business globally...
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...characteristics of a “green business” or “sustainable business?” How can business be a force for good by addressing the problems associated with the environmental crisis? In answering this question, be sure to draw from chapter 10, the Anderson video, and 3 additional outside sources. Going Green or going home. Business throughout the world has evolved since the first traders used to barter for goods. Today we keep in mind the ever changing global economy, and how it has effected our environment as a whole. In this paper we will be looking at different characteristics of a “green business” or in other words, “sustainable business”. How businesses can be a force of good by addressing some problems associated with environmental issues of our world as we see it today. Also we will be drawing and interpreting some additional sources that will further support as well as debate our “green business” characteristics. Lets start by stating there is a difference between “green business” and a “sustainable business”. A sustainable business is not necessarily green. You can have a company who makes many profits and has many millions of dollars invested into it, but they could be doing absolutely no environmentally friendly to help the world. Just because they could be considered a successful company, does not mean that they have reached the level that they are at today by doing things completely environmentally friendly. On the other hand the term “green business” truly expresses the terminology...
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...Legal and Ethics of Business Professor Cassandra Hart Individual Project 5 November 12, 2012 Businesses are becoming increasingly global because of enormous advancement in technology, communication means and transportation facilities. The idea of doing business with other countries is certainly a great move for organizations as now they can make more money and profit. Ethical implementation plans, are a mode to get employees educated as a company adopts a universal policy to explain how employees should act and set guidelines and punishments for improper behavior. While implementing an ethical conduct plan an organization must consider certain factors that are of great importance. Cultural differences should be kept in mind. The differences of body languages, cultural norms and values, ones beliefs, meanings of words, if does not acknowledge then will lead towards disputes that are bad for any business. Educate the employees and other people associated with business that how can they neutralize the risk, those engaged in foreign assignments should be well known with the tricks. National and international government rules and regulations will vary, so it’s very necessary to closely look at all these things, read and become aware of laws of the respective country. Legal requirements should reflect a codified ethics prevailing in the society and ensures that it represents the main notions of business righteousness, justice and fairness. All the business activities should be...
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...Case 1 1. What are the business benefits of Business Sufficiency, Business Sphere, and Decision Cockpits? The business benefits of Business Sufficiency are that it can tell you about the market share and other performances metrics six to twelve months into the future. It is based on a series of analytic models showing what occurring in business right now, such as, shipment, sales, and market shares why it’s happening and what actions P&G can take. Business Sphere is interactive and can reveal insight, trends, and opportunities for P&G’s leaders and prompt them to ask focused business actions that can be addressed with data on the spot. Thousands of algorithms and analytical models aggregate data, organizing it by country, territory, products line, store level, and other categories, and monitor the trends like response to advertising and consumer consumption within individual regions and countries. This program is only used by upper P&G managers and executives. Decision Cockpits are dashboards that display easy to read charts illustrating business status and trends. It has started to give more employees access to the same common data sources. It’s the same principle as Business Sphere, but is extended across the business. These cockpits feature automated alerts when important events occur. One of the major goals on the cockpit was to eliminate time spent by the employees debating the validity of competing versions of data found in emails, spreadsheets, letters...
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...Responsibility (CSR) that can affect the company to make decision how to accomplish the CSR. We will discuss three issues of International Corporate Social Responsibility which are: 2.1) Type of International Corporate Social Responsible. 2.2) Advantages and Disadvantages of International Corporate Social Responsible. 2.3) Barrier of doing International Corporate Social Responsible. 2.1) Company must decide which type of International Corporate Social Responsible they must select rightly if not it can affect the company. There are three type of International Corporate Social Responsibility. 2.1.1) First is environmental responsibility. Environmental responsibility is organizations starting to focus on their waste and carbon footprint and find solution to reduce it. Besides that, companies must look for new ways that their operations can be more productive for the environment, by having a minimal impact. 2.2.2) Next is philanthropic responsibility. Philanthropic responsibility is like the organization gives money to donating to national and local charities. Usually, the organizations will have specific charities that they support, and these may be linked to business. 2.2.3) Besides that is ethical responsibility. It can be done by the organization meet their profitable which organization willing to pay higher wages, offering employees better benefits, avoiding trade with unscrupulous companies or providing jobs to those who would...
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...How Businesses Are Organised and Their Purposes Division of work Work is divided up in the Coca Cola business because this makes it much easier for employees so that they can get the job done. This takes out conflicts between individuals opinions towards the work they are working on. This will mean that no one can say anything about each other’s work and they can do the work in piece without any contribution from others unless it is wrong that needs to be improved told by the manager. Lines of control This means that if Coca Cola Company knows what they are doing and they can control the activities being done. The heads of Coca Cola set task to the senior managers then they do the same thing setting the task to the employees. The task is divided up in the different sector such as finance would do the finance task and marketing will do marketing task. This way everything can be controlled easier rather than one person doing it all which is impossible to do every sectors job in a large company like Coca Cola. Communication In Coca Cola the communication are set from the top to the bottom. The directors of Coca Cola will tell the managers what task have to be done then they will tell the employees what has to be done too, this can sometimes go wrong as the message is getting passed by a lot of people in the business. Sometime the communication is passed from bottom to top because if something goes wrong in the factory of Coca Cola the employees will have to inform their...
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...Explain the different types of business information, their sources and purposes Communication is something which a business will use in order to help with the overall running of a business. There are different types of information used within many businesses and organisations which are then communicated. The different types of information can be communicated Verbally, Written, On Screen, Multimedia and Web-based. Verbal Information involves through the use of a telephone call, face to face or a voicemail. Face to face verbal communication is the best way of passing on information through to different people within a business. This is because it is quick, and is less scope for misunderstanding. However there are some constraints to this type of information, depending on the size of the business, and how easy it is to find people to then pass on the verbal information to other people. Telephone conversations are also useful as they get the information through to the person on the other end of the telephone straight away. Due to Verbal communication being an immediate form of passing on information, it enables a business or organisation to run more efficiently and effectively. Written Information involves the use of physical symbols to represent words, it could also include diagrams, graphs and charts. Many businesses will use e-mailing as a way of passing on information and communicating with the employees within the business. However not everyone checks their e-mails regularly...
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...money to get things such as materials from making and selling a product. Smallwood’s net profit in 2005 was £22,000 but this decreased by £2,000 to £20,000 in 2006. The net profit then increased in 2007 by £4,000 to £24,000. This is an issue because the net profit should be larger than the total expenditure, which is the amount of money available to spend. Connected to this is the net profit % which in 2005 was at 3.2% of revenue which gets distributed to investors or to the company. However, in 2006 this % dropped to 2.8% and then increased again in 2007 to 3.6%. The issue with this is that in 2006 there was less money to distribute to investors or within the company but in 2007 there was more than there has been in 2005 and 2006 to distribute out. Smallwood’s interest in 2005 was £46,000 and then this went up by £8,000 in 2006 to £54,000. In 2007 this number increased again by £7,000 to £61,000. This is an issue because Smallwood are paying more interest each year which looks bad on the company. This could be because they are behind on loan repayment or the APR% may have increased. Related to this is the interest cover ratio. In 2005 this ratio was 1.5% and in 2006 this figure decreased to 1.3%. In 2007 this figure went up marginally to 1.4%. This is an issue because the decrease in 2006 and 2007 meant that Smallwood had less money to cover interest payments and therefore less money to keep for themselves. In 2005 Smallwood’s...
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... Identifying the research of performance evaluations, employee turnover, profit/loss, return on investment, market share, size of company in comparison to competitors, product rate of failure and customer satisfaction survey in the critique of a company or organizations. The organizations innovation, total quality management, and controlling operation within a company. This section covers why measuring performance for the selected measures are useful and important to improve the awareness of the effect in an organization. It is important to know where the strengths and weakness are in an organization and the balance of key essential performance measurement system. Performance Evaluations The primary purpose of performance evaluations is to provide feedback to employees on their current productivity, and identify areas in which an employee can improve on their future productivity. (Albright, 2009) Individual performance evaluations allow Human Resources the ability to measure an employee’s performance. Evaluations not only help develop individuals, but can also improve organizational performance and feed into business planning. Performance evaluations are usually conducted on an annual basis. Normally, employee evaluations coincide with salary increases, bonuses, awards, promotions, or disciplinary actions. Employee evaluations can often help organizations identify training and developmental needs. (Certo & Certo, 2012) Performance evaluations are a continuing evolution...
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...products they sell won’t come back with any issues. Amazon made its website more approachable by adding apps and be able to download music. They also make its own product which is the kindle which is digital book reader and is the most cheap book reader you can find and the quality of it is excellent and this will make the customer think that Amazon is a great company to spend with. I think that amazon is doing a great job and I think that they will survive for ever. Maybe it was quite hard when they have started because not a lot people knew and there weren’t any adverts to say that they were there. But now you can find amazon in different countries and why not one day it will become a global company making a lot of profit by selling products at an affordable price. When they first started in 1995 they were known just as bookstore in Seattle US. But in 1998 Amazon bought bookpages.co.uk which was a book retailing website and since then it was known as Amazon UK. They also started to buy other companies and that is why today amazon sells a wide range of products. The last acquisition of amazon was lovefilms.com which was a company...
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... University of Gävle Department of Business Administration Course: Comparative Management Culture Names: Group 1- Islam Ariful, Melinda Folmerz, Kamrul Hasan, Thomaidou Alexia Examiner: Dr. Maria Fregidou-Malama Paper type: Assignment 3: Article Analysis Semester: Autumn 2014 (HT14) Group 1 INTRODUCTION The article that we choose to analyze has to do with the trust developed in business to business relationship. The title is “Trust formation in cross-cultural business-tobusiness relationships” and it is written by Heffernan Troy. It is published by the Emerald Group Publishing Limited and it comes from Qualitative Market Research: An International Journal, Volume 7 · Number 2 · 2004 · pp. 114-125. The aim of the article is to show the factors that contribute in the process of building trust in the relationship lifecycle. BACKGROUND Relationships between two parts worldwide are very common. Heffernan describes the doing international alliances or partnerships, trust is very important. Relationship marketing, which has a lot of definitions, as it is a new phenomenon in the marketing theory, can be said that is the relationship between two parts in which they are interacted doing business. As trust is very important when doing business, it...
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...Accounting departments in a business are a very important part of how the business functions. They take care of all aspects that have to do with money, but one of the most notable things they do for a business is handle the financial statements. Financial statements are essentially the backbone of what accountants do for a business. It consists of four separate financial statements in a specific order starting with an income statement, retained earnings statement, balance sheet, and a statement of cash flows. Businesses use an income statement to report if their operations during a certain period of time have been a success of a failure. The way the business determines if they have succeeded or failed is by looking over revenues and expenses. The accountants can then determine the companies’ net income or net loss by deducting the expenses from the revenues, if the businesses revenue comes out higher than the expenses, then they have succeeded, if the expenses come out higher, then they have failed. A retained earnings statement is used to indicate the amount of previous income in the form of dividends that was distributed to you and other owners of the business, as well as how much income was retained into the business to help the businesses’ future growth. A business uses a balance sheet to get an idea of what it owns (assets) and what is owes (liabilities). A statement of cash flows provides a business with financial information regarding cash receipts and cash payments during...
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