...case, Nau’s operation has been driven by environmental, social and economic factors from design to sales to finances. In the design area, the company developed 24 of its 32 fabrics to be more sustainable and to combine performance and visual appeal. In the sales area, the company uses a concept called “Web-front” to combine the efficiency of the Web with the intimacy of a gallery-like boutique so that the operating expense is saved because less energy and fewer material are used. In the finance area, Nau has pledged 5 percent of sales to charitable organizations dedicated to solving crucial environmental and humanitarian problems while the “philanthropic gold standard” is 1 percent and the average among all corporations is 0.047 percent. So from a Green Management perspective, Nau’s approach to doing business would be considered as dark green. Their holistic approach to environmental sustainability goes beyond the products they sell and extends into their relationship with suppliers and retailing phases of their products. So it is ethical and responsible. But why some other companies do not take this approach? Several viewpoints are raised to support the irresponsible behavior. 1. The responsibility of the enterprises in the society is to make profit for stockholders. There is no need for them to take the social responsibility. 2. Too much power is given to the enterprises if they participate in the settlement of social problems. Then corruption problem may come up. 3. Interest...
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...Role of the Stakeholder Role of the Stakeholder The role of an organization involves stakeholders; suppliers, employees, and consumers. The role of the organization, the supplier and the employee is to provide a product or service that the consumer demands as to maximize profits for the shareholder or owners. This is defined as the economic responsibility (Total Quality Management, 2009). However; if the product or service is of poor quality, this responsibility is ultimately unfulfilled. The definition of stakeholder as stated in the online Business dictionary (2014) is “a person, group, or organization that has an interest in an organization” (BusinessDictionary.com). This paper will discuss the specific roles of stakeholders in implementing the quality process. It will also refer to two companies that implement the quality process; Toyota and Fed-ex. Once the demand is evident, suppliers can then produce quality products or services. The role of the supplier and firm in the implementation of the quality process is to supply something that is considered of value and is marketable. The supplier and firm responsibilities in the implementation of quality include timeliness, information, product evaluation, and monitoring of customer complaints. Timeliness refers to the exchange of products, service and payments in a timely manner as to not disrupt the supply chain. Information is the exchange of information between the organization and suppliers. The supplier is responsible...
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...before they went bankrupt. Most of the studies about corporate governance focused more on the implication of corporate governance in the big businesses (Memili, 2011; Culasso et al., 2012). There are still relatively less researches talking about corporate governance’s implementation in SMEs comparing to in the big ones (Johannison dan Huse, 2000; van den Heuvel et al., 2006). Therefore, this research aims to study the implementations of corporate governance in SMEs, and specifically comparing those implementations in family business and in nonfamily business. Aspects that would be used in analyzing the implementation are five aspects contained in Indonesia Code of Good Corporate Governance 2006, which are transparency, accountability, responsibility, independency, and fairness. To strengthen the analysis, basic characteristics of both type of business would be also used, which are ownership structure, business structure, rewards, returns, and career-path. The result shows that both businesses have already applied...
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...1. Introduction Organizational behaviour and correct management concept are very important for companies in their long term development, if a company does not have good organizational behaviour and correct management concept, it would fall into organizational difficulties. This essay will argue that how unacceptable organizational behaviour and management concepts will lead to organization face difficulties. This argument will be supported with some theories, including ethical decisions making, CSR (corporate social responsibility), management functions and scientific management principles. 2. Analysis the article with theories 3.1 Analysing the issue with ethical decision making Ethical is a criterion that people used to measure that whether their behaviour is acceptable by others or social. However, Unethical behaviour will hurt organizational reputation. According to this article, one of the reasons for the Husi Company falling into food safety scandal was that they were doing unethical work practices. People in the company did not apply ethical decision making criteria. This can be seen with three dimensions. Firstly, workers were forced to work overtime and employees were forced to change expired dates of food at the plant. These two facts can clearly show that decisions which were made by company leaders were not acceptable. Secondly, they were making unethical decisions which could not be discussed in public. They used two records to cover unethical works...
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...perspective. The articles were: What is Business Ethics by Peter F. Drucker, 1981, The Social Responsibility of Business is to Increase its Profits by Milton Friedman, 1970 and The Relevance of Responsibility to Ethical Business Decisions by Patrick E. Murphy, 2010. Ethical Perspectives of Friedman, Drucker and Murphy Peter F. Drucker is known as the man who invented management. Drucker wrote many books on management and influenced the way business and industry thinks about management. “Peter F. Drucker was a writer, professor, management consultant and self-described ‘social ecologist,’ who explored the way human beings organize themselves and interact much the way an ecologist would observe and analyze the biological world (Drucker Institute, 2013).” Drucker’s paper from 1981, or 32 years ago, was trying to answer the same questions which today’s business society and government are trying to answer: What is business ethics/social responsibility and who is responsible for both? These are difficult questions to answer and questions which Drucker sets out to answer in Casuist, Ethics of Prudence and Confucianism. “Business ethics undoubtedly is a close parallel to casuistry. Its origin is political, as was that of casuistry. Its basic thesis, that ethics for the ruler, and especially for the business executive, has to express social responsibility is exactly the starting point of the Casuist. But if business ethics is casuistry...
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...moral is the combination of all values and norms together. A written rule is a regulation, while a norm can be written or unwritten. Responsibility There are some prerequisites for making somebody responsible. 1. Freedom of movement: • Literal: he/she should be able to move in order to be responsible. • Freedom of will (personally): • Social Freedom: ➢ Negative Freedom: The individual is free to make his or her own decisions. The government doesn’t oblige me to do anything. This is a form of liberalism. ➢ Positive Freedom: People want government interference. They want the government to shape them into a society where they can operate freely. Things are done for the benefits of the people who are being interfered with. Positive freedom is basically assuming that you know what’s right. Too much should not be used in sales activities. 2. Knowledge: Are you aware of the fact that something is happening? 3. Being capable of making your own decisions: Sometimes minors can’t be held responsible for their own decisions. The company is responsible for whom? Usually companies were only responsible for making profit. Nowadays, companies have more responsibilities and need to be aware of their stakeholders. Stakeholders are many, and in modern day entrepreneurship are of vital importance. These include social and economic stakeholders. The...
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...CHAN Ching To (UID 3035102223) To what extent is Corporate Social Responsibility (CSR) beneficial to a company’s performance? An analysis of the relationship between CSR and financial soundness, quality of marketing, people management and long-term investment value. Introduction Since the late 1990s, corporate social responsibility (CSR) has been increasingly discussed in the society and it slowly becomes one of the important components in the business world (Jenkins, 2005). McWilliams and Siegel (2006) interpret CSR as ‘situations where the firm goes beyond compliance and engages in “actions that appear to further some social good, beyond the interests of the firm and that which is required by law”’. In general, CSR is believed to, in long-term, enhance business performance and boost employee morale. Also, CSR could be a tool to improve company image and to prevent crises (Weber, 2008). This essay argues that CSR has a positive relationship with a company’s performance, meaning that it brings benefits to corporate performance to a large extent. To measure one’s performance, three key aspects are considered, namely financial soundness, quality of marketing and people management. These three aspects are chosen from the criteria for Britain's Most Admired Companies 2014 (Management Today, 2014). Effects of CSR on Financial Soundness One of the most crucial criteria to determine a company’s performance is by analysing its financial soundness. Common indicators...
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...National University of Modern Languages Institute of Business & Finance Department of Accounts & Finance Lahore Campus Final Thesis on CORPORATE SOCIAL RESPONSIBILITY AND EMPLOYEE BEHAVIOUR SUBMITTED BY: STUDENT NAME Roll No. BS (Accounts& Finance) Honors Session from ----- to -------- Thesis Report on Computer Marketing Company National University of Modern Languages Faculty of Management and Science It is hereby certified that the report has been thoroughly and carefully read and recommend to the Faculty of Management and Science for acceptance of final thesis report by name & registration #. Session (August-13 to July-14) Morning.In partial fulfillment of the requirement for the degree of B.S. (Accounting and Finance) of National University of Modern Languages Lahore. Date: 16-Oct-14 Supervisor name: Supervisor Signature: Plane Member Name: Plane Member Signature: Head of Department: Letter of Transmittal Head of Accounting & Finance Department, National University of Modern Languages, IBF Campus, Lahore. Dear Sir/Madam; It is to present you the thesis report which is executed at Computer Marketing Company as required by the university as a degree requirement for B.S. (Accounting and Finance) program. This report has been prepared in accordance with the guidelines issued by the department. It is the result of my first professional experience. This is a partial...
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...NIKE AND ITS FACTORIES IN VIETNAM THE CONTEXT OF THE ISSUE In order to offer competitive prices, a lot of Western companies relocate in low-wages countries. Nike is not unique in that respect: in fact the company choose to use subcontracted factories in Asia, especially in Vietnam. It is important to put this trend in context: this particular industry (the footwear industry) know a significant growth since two decades. Vietnam has a very high unemployment rate, which reflects the poor economic situation of the country. In this perspective it can be said that Nike factories are essential for Vietnam’s economy, because it offers plenty of jobs. In the 1990s some allegations were made that accused Nike of mistreating its Vietnamese workers. Nike tried to justify these local problems by the fact that cultural differences in South-East Asia make American management more difficult for the company. This was part of its explanation justifying its unethical behavior. WHAT IS IN STAKE AND AT WHICH LEVEL The problem was raised when people started to criticize Nike’s behavior. They acted publicly: college students asked their sport teams to drop Nike’s products, politicians signed petitions, web-sites against Nike were created… What enabled them to act what the researches done about Nike behavior: reports published had revealed information. Here we can notice different values in conflict. Profit, represented by big firms, would be one value, and the importance of ethical...
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...27/05/2015 International Business Strategies TBS 984 Dr Alan Pomering T2, 2015 Week 1 Global Strategy: Preface Not a particular multinational enterprise (MNE) strategy, but “strategy around the globe” Most fundamentally about “strategy” before being “global” About entering foreign markets, but also how domestic firms strategise by competing against each other and dealing with foreign entrants 1 27/05/2015 Outline • A global global-strategy book • Why study global strategy? • What is strategy? • Fundamental questions in strategy • What is global strategy? • What is globalization? • Global strategy and globalization at a crossroads 3 Why Study Global Strategy? • Job and career aspiration opportunities • Awareness of what is going on in the world • Avoid downside risks of globalization 2 27/05/2015 Porters Critique Too Many Firms Pursue Best Practice and Seek Operational Effectiveness Through Benchmarking, TQM, JIT Etc. But This Is Not Strategy. Strategy Is About Being Different, Not Being ‘As Good As’. What is Strategy? • Origin-Greek word (strategos)-art of the general Sun Tzu, Chinese military strategist in 500 B.C. Modern-day application to business and competition dates to the 1960s • Plan versus Action - strategy is “explicit, rigorous formal planning” versus “a set of flexible, goal-oriented actions” • Strategy as Theory-how to compete successfully Firms have both intended...
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...2-27 A. Identify and describe Reed’s responsibilities to detect Smith’s errors and fraud. Do not identify specific audit procedures. After his meeting with Smith Company’s new management and predecessor auditor, he is now made aware of possible fraud in the financial statements. With this knowledge, he is now responsible to take steps to identify the errors due to fraud in the financial statements. Initially, Reed and his audit team should assess the risks within Smith Company such as the motives and where opportunities exist to commit fraud. Once all the risk information is gathered, the next step is to audit Smith Company’s financial statements to see if they are prepared in accordance with GAAP and if they are not to identify any material misstatements. During the course of the audit, they should plan and develop tests that account for the risks assessed. As with any audit, Reed, CPA and his staff must “conduct the audit with due professional care and an attitude of professional skepticism.” (Boynton & Johnson. 2006, p. 58) B. Identify and describe Reed’s responsibility to report Smith’s errors and fraud. If Reed, CPA detects that Smith Company’s financial statements are materially misstated, then he should notify the management at Smith Company and have them revise them so that they are in accordance to GAAP with all proper disclosures. Reed has the responsibility to notify others when appropriate including the Board of Directors, the Audit Committee...
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...1) Why do you think Starbucks has been so concerned with social responsibility in its overall corporate strategy? Starbuck is a known corporation local and international for their freshly brewed coffee and other products that are offered. Social responsibility helps the company image, to care about the community and the environment, these are positive stand points that define the company self portrait. It's important how you look on the outside, in the end it's all about sales. As mention in the text “people first and profit last” once a corporation can fulfill its duties that benefit the consumer and the parties involve then there is no need to worry about the business profit. 2) Is Starbucks unique in being able to provide a high level of benefits to its employees? The text mention “it is better for a company to take some short-term loses than to lose sight of its core values in the long term “yes Starbucks is unique because not many restaurant offer the kind of benefits as Starbuck. The employees are important to the business and it helps to retain them. Offering health insurance, paid time off, and other perks are ways to keep employees happy which lead to great work effort and a successful business. It also helps to lower the business employment turnover rate and save the corporation money because they do not spend much money and recruiting new employees and to train them. 3) Do you think that Starbucks has grown rapidly because of its ethical and socially responsible...
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...2012, HMV plc spent £25 million on social responsibility projects. In January 2013, HMV entered liquidation. With reference to HMV and/or other organisations that you know, to what extent is acting in a responsible manner important for sustained businesses success. (40 marks) Acting in a responsible manner will always be an important part of a business’s success, as it links into a business’s reputation which is ultimately how the customers and potential customers view the business before decided whether to purchase their goods or services from them. If a business, for example The body shop is renowned for being socially responsible in relation to environmental factors and employee issues, then its reputation will be strong and customers will look highly upon the business, as opposed to a business, such as Nike, who was found out to be using sweat shops and abusing their workers not long ago, to which consumers responded badly. HMV for many years has been a very popular and well established business. So behaving in a responsible matter will have proved to be an evidently important factor in the success of their business, before they entered liquidation. In their 2008 social responsibility report, HMV stated that “HMV Group recognises that its businesses have social and environmental impacts and that we have a responsibility to manage these impacts effectively at a strategic and operational level”. Environmental factors, social responsibility and economic growth are all part...
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...Management Planning Ava Thompson Hearvey MGT/230 October 23, 2012 The Planning function The first Wal-Mart opened in 1962 in Rogers, Arkansas. Wal-Mart has been dedicated to making a difference in the lives of their customers. This business is the result of Sam Walton’s visionary leadership, along with generations of acquaintances focused on helping customers while building the community, and saving money (Wal-Mart.com). This heritage defines the company in terms of who Wal-Mart is and what the company’s goals are today. In 2009 Wal-Mart introduced a plan that was hoped to guarantee that the company would remain the industry leader. Project Impact is based on three strategic initiatives that will improve the benefits to the customer. The three initiatives are; Save Money, Live Better; Wal-Mart is aiming to keep customers happy and keep them returning to the store. Over the last decade the company had lost customers as they frequented the newer stores of its competitors such as Target. By implementing Project Impact Wal-Mart is renovating its stores in the US by widening the aisles, lowering fixtures, improving signage, and adding natural light to give consumers a store that feels friendlier (Wal-Mart strategic initiatives). Customers are more likely to shop when they feel comfortable. Goals and Strategies The first of the three visions is called Save Money, Live Better. This vision has a number of...
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...Boeing and its Management Planning Christopher Bayles MGT/330 October 2, 2011 Bill Escue Boeing is one of the biggest aviation companies in the world with relations to a number of different countries. They produce products for commercial and government use as well as have contracts with National Aeronautics and Space Administration (NASA). Management planning is one of the primary key focuses to Boeing because of the size of its massive corporation. They create some of the top high-end equipment for medical, commercial, and government use. The primary workings of the company includes goods that aid in the carrying of cargo, people, and other equipment used by the government. The Federal Aviation Administration (FAA) oversees the operation of aircrafts for safety concerns. Because of the safety concerns, Boeing conducts very extensive planning to operate a well-organized and successful business. Planning includes precautionary needs for the future, figuring out the departments’ objectives, activities that could be of some concern to a company, and a company's techniques they will need to accomplish a successful result (Boeing, 2010). During plans making Boeing has to consider the unpredicted problems so that there can be no possible mishaps that could happen. By setting obtainable goals in marketing, sales, mechanical markets and engineering, and updating and training employees to be more effective will ensure that the products exceed high expectations and...
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