...Week 6 tute: Is Responsible Business Important? (Assessed) Research about the ‘phone hacking’ scandal involving News International and be prepared to discuss the following based on the ‘Sorry’ advertisement reproduced below. 1. Identify three key aspects of the ‘phone hacking’ scandal? On 13 November 2005, the News of the World published an article written by royal editor Clive Goodman, claiming that Prince William was in the process of borrowing a portable editing suite. Following the publication, the Prince and royal staff met to try to figure out how the details of their arrangement had been leaked, as only two other people were aware of it, and asked police for investigation. In August 2006, Goodman and private investigator Mulcaire were arrested by the Metropolitan Police, and later charged with hacking the telephones of members of the royal family by accessing voicemail messages. It was first reported by The Guardian on 4 July 2011 that police had found evidence suggesting that the private investigator Glenn Mulcaire collected personal information about the family of the missing schoolgirl Milly Dowler, following her disappearance in March 2002 and the subsequent discovery of her body six months later. According to the paper, journalists working for the News of the World had hired private investigators to hack into Dowler's voicemail inbox while she was still missing. It was alleged that they had deleted some messages, giving false hope to police and to Dowler's...
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...Milton Friedman’s (1970) claim that: “the only responsibility of business is to increase its profits”? Today we live in a world were companies are major actors and influence society on many levels. This is why ethics were brought into the business world. Ethical enterprises follow certain values and moral beliefs and were created with the supposed intention of using that influence in a positive way and protect what surrounds them, whether it is the people who work for the company, the rest of society, the environment etc. Ethics helps companies distinguish what’s wrong or right in a certain situation and act upon it. It bases itself on the idea that a corporation is somewhat responsible for how it affects others, hence the term ‘corporate responsibility’. (Banerjee, 2007) But with time and experience it seems that ethics, although created for a noble purpose, can and are actually used by companies for purposes other than just helping others. The economist Milton Friedman believed that all this social work is the state’s responsibility and a political matter, and that it can induce losses in profit for a company, going against the essence and purpose of a business. He argues we might be better off without it. (1970) This rather negative portrayal of something that was created to do good, although quite realistic, can be discussed and hopefully re-arranged so there is hope that a company can be both socially responsible and profitable. According to Bakan (2004), “if a corporation...
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...Coca-Cola is a carbonated soft drink produced by the Coca-Cola Company of Atlanta, Georgia. It was invented in the late 19th century by John Pemberton. John Pemberton was wounded in the American Civil War and became addicted to morphine. Pemberton began looking for a substitute for morphine and stumbled across the Coca-Cola recipe in the process. The Coca-Cola company has introduced other cola drinks under the coke brand name. The most common are; Diet Coke, Caffeine free Coca-Cola, Coca-Cola Cherry, Coca-Cola zero and Coca-Cola Vanilla. Atlanta business man Asa Griggs Candler secured rights to the business for about $2,300. Candler went on to not only become Coca-Cola's first president, but also the first to bring real vision to the business and brand. In 2009, the company launched Live Positively. Live Positively is a public commitment to making a positive difference in the world by redesigning the way we work and live (The Coca-Cola company). Live positively includes goals for providing and tailoring drinks for everyday lifestyles, supporting active and healthy living programs, building sustainable communities, cutting our carbon emissions, establishing a sustainable water operating creating a safe work environment and recycling packages. Today, Coca-Cola has a brand that is recognized all around the world. Coca-Cola is one of the most iconic soft drink manufacturers in the world. Coca-Cola offers more than 500 brands in over 200 countries and serves over 1.6 billion...
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...Organisational structure defines how activities such as task allocation, co-ordination and supervision are directed the achievement of organisational aims – shows the organisation hierarchy. Organisational structure is important as it provides a guideline to employees by laying out the relationships that oversee the workflow of the organisation. This means that it establishes the effective lines of control and communication. (Ingram, 2015) It is also important because it helps an organisation make decisions. Most businesses have either a tall or flat organisational structure that influences decisions being made. Larger businesses such as Sainsbury’s have a tall organisation structure because they are lots of different layers of management and many people who need to be organised. However, smaller business such as Huddersfield New College and a pub have a flat organisational structure because they are less layers of management and less people who need organising. Both tall and flat organisation structure have span of control which refer to the amount of people one person has to take responsibility for i.e. someone in a tall organisational structure has a narrower span of control then someone in a flat organisational structure because different managers for each group of worker. The advantages of a tall organisational structure is that there is clear management structure. Another advantage of the tall organisational structure is that each layer is a clear and...
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...Some of these issues can be categorized into medical ethics, legal ethics, business ethics, and personal ethics but the ways of relating to such issues are derived from basic ethical values (Ethical Values as Part of the Definition of Business Enterprise and Part of the Internal Structure of the Business Organization, 1998). The basic Ethical values that I feel are very important are Honesty, Integrity, Building Trust, Respect, and Being Responsible. I value these Ethical Values that I have earned and I admire people who have such values because not only do these values build ones image but at the same time through these values people have a positive perception of peers and organizations are willing to work together for mutual benefits. This paper comprises detailed descriptions and analysis of the identified Ethical values. I will culminate by discussing how implementing these values make a difference in our personal and professional life. Honesty It refers to a facet of moral character and denotes positive, virtuous attributes such as integrity, truthfulness, and straightforwardness along with the absence of lying, cheating, or theft (Honesty, 2010). There is not one organization in this world that doesn’t include this Ethical value to their code of ethics. Being Honest is being real and not deceiving others. Honesty is earned by saying the truth. Being honest is an important attribute of an individual through which one can attain trust and respect...
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...Master in Business Administration (MBA) is the next step in business degree. It will help me understand the business world & business practice for better future career opportunities. Most businesses consist of number of different deparment, which has specific job or task to do that is called functional area of a business such as accounting/finance, marketing, operations, human resources and administration. This degree will help me understand each department of business and what roles managers play in each deparment. All business will carry out each functions but not every business will have a separate deparment that is responsible for each function. All businesses need to be well organized to achieve their aims and objectives. Certain tasks, or functions, must be done regularly and these are usually grouped into specific types of activities. All businesses will carry out each of these functions but not every business will have separate deparment that is responsible for each functions. It is all depends on the size of organizations. All functional are of business are very much important to organization. Few functional areas that interest me are Human Resource and Finance. Human Resources is important department. The main purpose of Human Resource deparment is to recruit, select, train and develop staff. This means that they have to find right people at right place at right time and it is the responsibility of Human Resource to train and develop them to make sure that they...
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...Three traits of a successful business person to me are to be persistence, organized, responsible. A business person should be persistent, even when there are obstacles to overcome. They consistently remain persistent and don’t give up. Quitting is not persistent. I will need to be persistent in my field because I will constantly be given new tasks and information that I will need to evaluate. Another trait I think is important to be a successful business person is to be organized. To me, unorganized people never seem to have any idea what is going to occur next. They have a hard time dealing with the present, and being unable to find something because of a lack of organization on the person’s part could potentially cause a failure for the business person. I want to be a CPA and having everything in order, everything in its proper place will help me with the career I’ve chosen. A third trait I feel all successful business people and adults should have is responsibility. Too many people today do not claim responsibility for their mistakes; they own want to be responsible for the success. If you are making excuses and not learning from your mistakes, by being responsible and accepting them, you won’t be able learn and grow from them. A simple math mistake in accounting should be able to show the person responsible what not to do the next time. Double check your work, and if the numbers are off, claim responsibility and learn from it. Making excuses for any job is not something...
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...socially responsible consumption: Attitudes among Chinese and German business students- A comparative/ contrastive study * * * Index 1 Title and Initial Statement of Research Question 3 2 Background 3 3 Statement of research objective 6 3.1 Primary research objective 6 3.2 Secondary research objective 6 3.3 Definition of terms 6 3.4 Detailed explanation of objectives 7 4 Research design and schedule 8 4.1 Approach 8 4.2 Methods of familiarisation: 8 4.3 Methods of using text: 9 4.4 Methods of using Talk: 9 4.5 Methods of using experimentation: 10 4.6 Methods of observation: 11 4.7 Tools of data recording and documentation 12 4.7.1 Tools for talk 12 4.7.2 Tools for text 12 4.7.3 Tools for observation 12 4.8 Time schedule 12 5 Significance and creativity 13 6 List of References 13 Title and Initial Statement of Research Question Consumer perceptions of socially responsible consumption: Attitudes among Chinese and German business students- A comparative/ contrastive study Every single consumption choice that consumers make has a huge impact on the environment and the society. Consumers can influence the market by buying products that have a limited impact on the environment and the society. By taking social responsibility in consuming ethically, encourages further developments of the market for equitable products. On the one hand there are a large number of studies on socially responsible consumption...
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...|BUSINESS ETHICAL BEHAVIOR & CORPORATE SOCIAL RESPONSIBILITY | | | |Student’s Name:Renee Giordani | | | |Course Title:Sales Management | | | |Professor:Gene Dichiara | | | |SUNY EMPIRE STATE COLLEGE | | | |Date: December 09, 2014 | Business Ethical Behavior & Corporate Social Responsibility: Why Organizations Must Have IT Corporate Social Responsibility has gradually developed into one of the greatest ethical aspects that have to be adhered...
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...to express my vision and ideas about responsible leadership, a new theory of growing importance. Indeed, previous theories about leadership lost credibility after the financial crisis in 2008. To fill in the gaps of the former theories, a new concept emerges: responsible leadership. In this essay, I first introduce the concept of leadership before expressing my vision of responsible leadership. Leadership In the literature, most of the definitions have common parts. Leaders are individuals able to influence and lead a group of people, by their actions, to achieve a common goal. To do so, those individuals must have a deep commitment to the goal and strive to achieve it. Moreover, they must have a personal vision of the future and inspire their partners so that their vision becomes a common goal for the group. Another characteristic of a leader is that he has persuasive skills and manages to make his/her followers trust him. He is also likely to empower people he works with. Thus, he manages to share responsibilities between team members so that the group becomes more effective. Finally, he motivates people to do their best in their respective fields and also to create a positive team spirit. In the business world, leaders were often associated with outstanding individuals shaped to conceive a competitive advantage for the company. The role of this person was to create value for the shareholders. In other words, one of the most important sides of the leader’s personality was...
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...Business is carried out by a company through the exchange of goods and services for profits. Profits are important for a business to be carried on. However, profits shall not override other responsibilities of a business. If the business is to be considered as a responsible business, it means that it also focuses on the welfare of the environment and their stakeholders such as employees, suppliers and customers. Business should behave ethically to contribute to the development of the economy and improve the living quality of the society. There are principles of a responsible business. First of all, the business must minimize the impact of their activities on the environment. For example, Apple Inc. has done great job in reducing environment impact. Their products are PVC-free, brominated flame retardant – free and the power adapters are outperform strictest global energy efficiency standards. Besides, Apple Inc. comes out with recycling program to offer environmental friendly disposal of those old Apple products. Secondly, the business must also concentrate of the welfare of its stakeholders. For examples, the company must take care of the welfare of their employees, as they are assets of the company. Google offers benefits to their employees such as on-site physicians and nurses, convenient medical services and comprehensive health care coverage to keep their employees healthy and happy. Besides, Google’s employees are covered with travel insurance even in personal vacations...
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...Forms of Business Kimberly Smith FIN231_1 February 14, 2016 Instructor McAndrew Forms of Business There are at least five different forms of business. They are proprietorship, partnership, corporation, limited liability company, and cooperative. The three major forms of business are proprietorship, partnership, and corporation. With proprietorship (also known as sole proprietorship), the business is only owned by one person. This person assumes all of the responsibility for the business. They also receive all of the profit. According to Melicher, & Norton (2014), “Proprietorships are the most widely used form although they are generally the smallest organizations in terms of assets”. Almost three fourths of firms in the United States are sole proprietorships. Partnerships are the second largest form. With this form of business, two or more people own the business. The business is for profit. Many times people choose partnership because they need to pool finances, but it is also helpful to share knowledge, property, equipment, or business skills. One person may have the knowledge to run the business, but they need someone else with the finances. In some instances, they may start off as a sole proprietorship, but they change to a partnership in order to expand their company. “A corporation is a legal entity created under state law in the United States with an unending life and limited financial liability to its owners” (Melicher, & Norton, 2014)...
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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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...Social responsibility and ethics is an important issue. There are various reasons for a company to conduct business in and ethical and social manner. In the wake of scandals such as Enron it is important companies make an effort to become more responsible. This report will provide a strategy to help Company X Financial Service become socially responsible. A1. Environmental considerations and recommendations A successful company goes further than just meeting the standards mandated by law. A socially responsible organization should be aware of the effects that follow their decision making. Social responsibility is an ethical theory that an entity, be it an organization or individual, has an obligation to act to benefit society at large. Social responsibility is a duty every individual or organization has to perform so as to maintain a balance between the economy and the ecosystem (Wikipedia, 2013). There are various ways Company X can become environmentally responsible. Company X could utilize their local energy vendor by having them construct an energy audit of their location. Many companies are utilizing such services to save money but this also helps the environment. By utilizing led lighting instead of normal lighting energy costs are reduced and waste is minimized. Most led lighting components are rated at a life of 10 years. The upfront costs will be high but the upgrades will save on utility bills and maintenance. The company could start an internal recycling program...
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...my chosen business, McDonalds and Argos, I shall be looking into how their style of internal organisation helps them to achieve their aims and objectives. I will also identify how the different departments in the company work together, and how they have developed overtime with the growth of the company. McDonalds is one of the biggest fast-food chains in the world, they have been running since 1974 and currently operate around 1,200 restaurants in Britain and Ireland alone. On their website they express their interest in serving quality food that their customers can trust. However, they do go on to discuss about how highly they prioritise their relationship with suppliers, franchisees and employees. They also talk about how they are firm supporters in British Agriculture, and choosing to use only British suppliers in their restaurants in Britain. They employ over 91,000 employees in their restaurants and invest over £40 million a year into training and development of staff. Because McDonalds is such a big business, they have many different parts and departments, such as accounting, marketing, operations and human resources. We know that this type of structure is working for McDonalds because of all their success in the past years. McDonalds has been producing a revenue of over $25 billion for the past 5 years, which is an incredible amount for any business around the world. This means that the business has managed to link all departments together in their business, which then...
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