...Monsanto Attempts to Balance Stakeholder Interests Monsanto is a company that has been around since 1901. They have renovated their company several times throughout the last century to fulfill a need in society. They have been suppliers for items such as artificial sweeter, saccharine, which was sold to Coca-Cola, vanilla flavoring, petroleum, fibers, packaging roundup herbicide, agent orange, and biotechnology for genetic manipulation of organisms in seeds. This company has seen touch times with ethics, environmentally, socially and business. 1. Does Monsanto maintain an ethical culture that can effectively respond to various stakeholders? Monsanto has let down their shareholders many times ethically. It started out in the 1970’s when they produced Agent Orange (Ferrell, Fraedrich, Ferrell, 2013). Agent Orange was just their first of many unethical circumstances. Monsanto does not maintain an ethical culture that can effectively respond to various stakeholders because to build a strong business you have to maintain your sense of respect toward the government and the environment. An example of this is when the FDA had to get involved due to whether or not the seeds that Monsanto was being produced were safe for the environment. 2. Compare the benefits of growing GM seeds for crops with the potential negative consequences of using them. The benefits of growing GM seeds for crops is that when you genetically modify plant seeds you can put herbicides...
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...Monsanto Attempts to Balance Stakeholder Interests 1. Does Monsanto maintain an ethical culture that can effectively respond to various stakeholders? In my opinion, no. Monsanto has tried, but fails to even create an ethical culture that can effectively respond to stakeholders. Considering how many problems over how long of a time Monsanto has created them, they continually get legislation regarding their product passed in countries, including The United States of America, through unethical means. Their product in itself harms the stakeholders they have identified in both direct and indirect ways, from endocrine disrupting, teratogenic, and carcinogenic effects, as well as the weakening of the life support systems of our planet. Before an ethical culture can be achieved, an ethical product must be considered and implemented within the organization (Ferrell, 2015, page. 384). 2. Compare the benefits of growing GM seeds for crops with the potential negative consequences of using them? The benefits of growing genetically modified seeds could be an amazing opportunity for humanity to create unparalleled abundance. They represent a product of hundreds of years observing life and studying it, reducing it down to its parts to understand it. Given time, nearly any gene could be expressed in any organism to help facilitate adaptation to new, emerging conditions. However there are some major problems. The first is the amount of study of the effects of these technologies is in...
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...Case Study 1: Monsanto Attempts to Balance Stakeholder Interests This case involves Monsanto, the world’s largest seed company. This is no ordinary seed company, it specializes in the genetic manipulation of organisms, known as biotechnology. Weeds, insects, and drought have been a huge issue for farmers. Herbicides and pesticides were creators to keep pests off of plants, however, applying them proved to be expensive and time consuming. Monsanto answered this problem by creating seeds that contained the herbicide Roundup, which kills weeds without harming the crops themselves. These types of genetically modified (GM) seeds were just the beginning. Drought-tolerant seeds were also created for dry area such as Africa. Opponents of genetically modified crops have various reasons for believing that these products will have a negative effect on the people and insects that consume it. Monsanto has a history of unethical cultures that have had a negative effect on many stakeholders such as the environment, plants, animals and humans. The benefits of growing genetically modified seeds for crops do not seem to outweigh the negative consequences of using them. In an effort to manage the potential harm to plant and animal life from using products such as Roundup, Monsanto should adhere to the code of ethics and follow the EPA’s guidelines. “Ethical culture is acceptable behavior as defined by the company and industry” (Ferrell, Fraedrich, & Ferrell, p. 15). Monsanto’s seems to have...
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...Case Study Analysis: Monsanto Attempts to Balance Stakeholder Interests Case Study Analysis: Monsanto Attempts to Balance Stakeholder Interests Monsanto is the largest agricultural company that specializes in both conventional and genetically modified organism (GMO) seeds and other products. Overall Monsanto has tried to maintain a good ethical culture to their different stakeholders. Because even with all the issues the organization faced, the company has taken the blame and fixed it the best way possible. For example, when word got out about Monsanto dumping toxic waste into a creek they took all the blame and agreed that it wasn’t right. Despite all the ethical issues, Monsanto has publicly made a commitment to provide full fledged support to famers through delivering technologies that will amplify the production of crops while conserving resources. They are also improving the livelihood of farmers and the people who depend on them. Monsanto’s goals are attainable through an intricate combination of biotechnology, advanced plant breeding, and improved farmer management practices. The agricultural giant also fulfills obligations to their shareholders by maximizing their profit through the development of more productive and safer seeds Monsanto can do just that (Gini & Marcoux 2009). On its website, Monsanto positions itself as a relatively new agricultural company that aims to help farmers produce healthier food by increasing productivity, repressing weeds and...
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...Monsanto Attempts to Balance Stakeholder Interests Course: MAN 3065 Group#: 1 Date Submitted: Oct. 2, 2014 Member: Evelyn Arfaro Reference#: 810149 Member: Claudia Calmet Term: 2014-15 Member: Claudia Castro Days: T & Th Member: Loanny Martinez Time: 7:05 pm – 8:20 pm Member: Jeanette Ramos Prof: Hoa N. Burrows, CPA, MBA Monsanto is one of the largest seed company in the United States and was found by John F. Queeny in 1901 in St. Louis, Missouri. The Monsanto company has created a variety of products to include the artificial sweetener saccharine used by Coca-Cola. Due to past major legal obstacles (Orange Agent) they shifted their efforts from the chemical realm to an organization focused on biotechnology. Their past history has generated a consensus on the possibility of how biotechnology might affect the environment and peoples’ health (Ferrell 302). In order to look at stakeholder’s interest we must look at whether Monsanto maintain an ethical culture that effectively responds to various stakeholders; we must compare the benefits of growing GM seeds for crops with the potential negative consequences of using them; and how should Monsanto manage the potential harm to plant and animal life from using products such as Roundup. Who are Monsanto Stakeholders? Monsanto Stakeholders are their employees, customers, suppliers, shareholders, communities and investors...
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...Case 1: “Monsanto Attempts to Balance Stakeholder Interests” Dr. Obradovich Case 1: “Monsanto Attempts to Balance Stakeholder Interests” Harry Stevenson September 15th, 2015 Monsanto is one of the world’s largest industrial agriculture businesses, especially focusing on genetically modified products. The company specializes in biotechnology, modifying crops and genetic manipulation of organisms. These modifications help farmers by using less land and creating more crops, which equals more profits. Genetically modified (GM) food also helps create solutions to world hunger problems and is a rapidly growing product for famers. GM products have stirred up controversy everywhere they are distributed, and Monsanto, being a huge multinational corporation and a major producer, is at the center of the debate. Throughout the company’s history, Monsanto has been attacked with criticisms from governments, farmers and activists groups because of their controversial products. This case deals with the ethical implications of producing and selling a product without understanding the environmental and physical implications of the products. Monsanto claims that its products are safe, and the FDA has proclaimed that GM food is safe to consume but critics are not convinced and continue to try and stop the use of GM products. Monsanto has showed a clear disregard for ethical obligations in its history and continues to downplay the importance of environmental and physical risks to the...
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...| A Report on Enron’s Fall – Case Study | Submitted to: Prof. Vivek Raina | Submitted by: Kunal Bhaia (M00116), Vidhi Pitroda (M00143), Nirali Mehta (M00144) & Harsh Desai (M00148) 10/14/2013 | Table of Contents 1. Summary 3 2. Q-13 3. Q-25 4. Q-36 5. Conclusion6 1. Introduction Enron was founded in 1985, and as one of the world's leading electricity, natural gas, communications and pulp and paper companies before it bankrupted in late 2001, its annual revenues rose from about $9 billion in 1995 to over $100 billion in 2000. Enron was the country's most innovative companies in the duration of 1990s. The company continued to build power plants and operate gas lines, but it became better known for its unique trading businesses. Besides buying and selling gas and electricity futures, it created whole new markets for such commodities like coal, water, electricity, gas etc... At the end of 2001 it was revealed that its reported financial condition was sustained substantially by institutionalized, systematic, and creatively planned accounting fraud. According to Thomas (2002), the drop of Enron's stock price from $90 per share in mid-2000 to less than $1 per share at the end of 2001, caused shareholders to lose nearly $11 billion. And Enron revised its financial statement for the previous five years and found that there was $586million in losses. Enron fall to bankruptcy on December 2, 2001. During this fraud...
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...Manager The Organization What Is Social Responsibility? Organizational Stakeholders The Ethic of Sustainability and the Natural Environment Evaluating Corporate Social Performance Economic Responsibilities Legal Responsibilities Ethical Responsibilities Discretionary Responsibilities Managing Company Ethics and Social Responsibility Ethical Individuals Ethical Leadership Organizational Structures and Systems Ethical Challenges in Turbulent Times Economic Performance Social Entrepreneurship Managerial Ethics and Corporate Social Responsibility LEARNING OBJECTIVES After studying this chapter, you should be able to do the following: 1 2 3 4 5 6 7 Define ethics and explain how ethical behavior relates to behavior governed by law and free choice. Explain the utilitarian, individualism, moral rights, and justice approaches for evaluating ethical behavior. Describe how individual and organizational factors shape ethical decision making. Define corporate social responsibility and how to evaluate it along economic, legal, ethical, and discretionary criteria. Describe four organizational approaches to environmental responsibility, and explain the philosophy of sustainability. Discuss how ethical organizations are created through ethical leadership and organizational structures and systems. Identify important stakeholders for an organization and discuss how managers balance the interests of various stakeholders. 118 Manager’s Challenge Timberland is known for great shirts...
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...|CONTENTS | |KNOWLEDGE AND INFORMATION AND DECISION |2 | |ASSESSING KNOWLEDGE AND INFORMATION NEEDS |3 | |INTERNAL AND EXTERNAL SOURCES OF INFORMATION |6 | |RECOMMENDATIONS |7 | |DECISION MAKING PROCESS |9 | |STAKE HOLDERS AND DECISION MAKING PROCESS |9 | |STRATEGIES FOR IMPROVEMENTS |12 | |COMMUNICATION |13 | |THE COMMUNICATION PROCESS |13 | |COMMUNICATION PROCESS WITHIN AN ORGANIZATION...
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...Flow of foreign direct investment: The amount of foreign direct investment undertaken over a given time period (normally one year). An example of foreign direct investment would be an American company taking a majority stake in a company in China. Stock of foreign direct investment: The total accumulated value of foreign-owned assets at a given time. For example, French enterprises have been significant foreign investors for McDonald’s; some 1,100 French multinationals account for around 8 percent of the global stock of foreign direct investment Common law system is based on tradition, precedent, and custom. Tradition refers to a country’s legal history, precedent to cases that have come before the courts in the past, and custom to the ways in which laws are applied in specific situations. It differs from a civil law system which is based on a detailed set of laws organized into codes. When law courts interpret civil law, they do so with regard to these codes. Factor endowments are the extent to which a country is endowed with such resources as land, labor, and capital. A simple example of a factor endowment with respect to land would be the presence of natural resources such as oil. Countries with abundant oil tend to export oil, focusing internal resources toward producing the factor they have in quantity. Angola is an extreme example of such specialization: oil accounts for 98% of its exports or for instance, as China's labor force has grown more skilled, wages have risen...
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...Of Different Sized Organisations 1.6 (SE MSE LE - organisation, strategy, customer/community, financial, governance, work force, IT processes) 1.6 Requests For Advice: Operational - Srategic - Global 1.7 (improving operational performance, greater strategic role, globally relevant issues) 1.7 Example 1.1: A Busniess Dilemma 1.7 Counterpoint (opposing arguement, soft skills, first: make the right decision about the services they perform - second:) 1.7 Providing And Implementing Advice (technical skills, soft skills) 1.8 Figure 1.1 - Providing Business Advisory Services 1.8 (issue, requirement, request, investigation, advice, decision, implementation) 1.8 (recommend actions should be well supported, identify key stakeholders) 1.9 Figure 1.2 - The Chain Of Events For Business Advisory Services) 1.9 Example 1.2: Succession Plan - Please Help 1.9 Accounting Roles 1.10 (5 roles as identified by the International Federation of Accountants) 1.10 Example 1.3: Specialist Accounting Roles 1.11 Providing Strategic Advice 1.12 (accounting roles either: reactive or proactive) 1.12 Example 1.4: The First Strategic Decision 1.12 (Hertz, Beasley & White 2009) 1.12 (types advice provided by accoutants: financial management, productivity...
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...FAB PAPER F1 ACCOUNTANT IN BUSINESS BPP Learning Media is the sole ACCA Platinum Approved Learning Partner – content for the FIA and ACCA qualifications. In this, the only FAB/F1 Study Text to be reviewed by the examiner: We highlight the most important elements in the syllabus and the key skills you will need We signpost how each chapter links to the syllabus and the study guide We provide lots of exam focus points demonstrating what the examiner will want you to do We emphasise key points in regular fast forward summaries We test your knowledge of what you’ve studied in quick quizzes We examine your understanding in our exam question bank We reference all the important topics in our full index BPP’s Practice & Revision Kit and i-Pass products also support this paper. Note FIA FAB and ACCA Paper F1 are examined under the same syllabus and study guide. FOR EXAMS FROM FEBRUARY 2014 TO AUGUST 2015 I N T E R A C T I V E T E X T FAB/F1 ACCOUNTANT IN BUSINESS First edition March 2011 Third edition September 2013 ISBN 9781 4453 7026 2 Previous ISBN 9781 4453 9965 2 eISBN 9781 4453 7061 3 British Library Cataloguing-in-Publication Data A catalogue record for this book is available from the British Library Published by BPP Learning Media Ltd BPP House, Aldine Place 142-144 Uxbridge Road London W12 8AA www.bpp.com/learningmedia Printed in the United Kingdom by RICOH Ricoh House Ullswater Crescent Coulsdon CR5 2HR A note about copyright Dear Customer...
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...visit the GMA website at www.gmabrands.com The Food Products Association (FPA) is the largest trade association serving the food and beverage industry in the United States and worldwide. FPA’s laboratory centers, scientists, and professional staff provide technical and regulatory assistance to member companies and represent the food industry on scientific and public policy issues involving food safety, food security, nutrition, consumer affairs, and international trade. For more information, visit FPA’s website at www.fpa-food.org The member firms of the PricewaterhouseCoopers network (www.pwc.com) provide industry-focused assurance, tax, and advisory services to build public trust and enhance value for its clients and their stakeholders. More than 130,000 people in 148 countries across our network work collaboratively using connected thinking to develop fresh perspectives and practical advice. © 2006 PricewaterhouseCoopers LLP. All rights reserved. “PricewaterhouseCoopers” refers to PricewaterhouseCoopers LLP (a Delaware limited liability partnership) or, as the context requires, the PricewaterhouseCoopers global network or other member firms of the network, each of which is a separate and...
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...Contemporary Developments in Business and Management Kenneth Fee The University of Sunderland © 2013 The University of Sunderland First published September 2013 All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise without permission of the copyright owner. While every effort has been made to ensure that references to websites are correct at time of going to press, the world wide web is a constantly changing environment and the University of Sunderland cannot accept any responsibility for any changes to addresses. The University of Sunderland acknowledges product, service and company names referred to in this publication, many of which are trade names, service marks, trademarks or registered trademarks. All materials internally quality assessed by the University of Sunderland and reviewed by academics external to the University. Instructional design and publishing project management by Wordhouse Ltd, Reading, UK. Contents Introduction vii Unit 1 The contemporary world of business and management Introduction 1.1 1.2 The global business environment The importance of developments in the global environment Case Study 1.3 Organisational decision making and performance vii 1 3 10 14 17 19 19 20 Self-assessment questions Feedback on self-assessment questions Summary Unit 2 Globalisation Introduction 2...
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...implementation in a large multi-national firm is the phased roll-out, whereby the modules of the application are implemented in all the sites in a series of waves. A standard implementation, as designed by Headquarters, is replicated in each site. This standard implementation uses a base configuration, sometimes referred to as a template or blueprint, which cannot be deviated from in any of the sites. These monolithic implementations can be quite traumatic for individual sites where local practices, sometimes quite well established and rich in organizational learning, must be abandoned. This may lead to large scale organisational problems, which must be ironed out if the full potential of the enterprise-wide system is to be obtained. In an attempt to tease out the issues in the global implementation of ERP systems, we carried out a number of case studies at Irish manufacturing sites of multinational firms where management sought ways to defend their hard won local reputation for excellence and efficiency in the face of changes to the organisation due to a corporate ERP implementation. Our study indicates that local managers are given too little scope and time to adequately adapt the template to their site and that the risk of productivity loss is quite high, at least in the short term. We conclude that mechanisms must be...
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