...Evolution of Business Nikoa Jefferson MGT/426 April 25, 2015 Sharla Walker Evolution of Business Role of Innovation The business environment is continuously evolving with the integration of new management trends developed to create opportunity and respond to various challenges. However, with the unpredictability of the business environment which is driven mainly by globalization and technology, innovation turned out to be increasingly important to success. It means that innovation and strategy is converging to help in productivity. Innovation has the potential to change the agents within an organization to become better entrepreneurs to meet various challenges. Strategic thinking is crucial in creating a coherent, integrative and unifying framework for making decisions particular regarding the direction in which an organization goes and the resources it plans to utilize (Goldsmith, 2009). In some way, strategic thinking utilizes external and internal data, perceptions and opinions. It is proactive, conscious and explicit while defining competitive realm for strategic advantage in the organization. Strategies are formed to improve the performance of an organization which means that the company will have to conduct something unique and different compared to that of the competitors. Whenever an organization develops a new strategy, it means that they are establishing change whether it is innovative...
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...Evolution of Business Business has evolved overtime from creative business man of years past into the giant Corporate America as people know it today. The struggle for money, food, land and valuable resources continues after the business world has under gone an industrial revolution. During this presentation the basic principles and practices created by founding business men are reviewed. These principles and methods are the roots of Corporate America and globally. Property rights The right of people to own, use, or sell valuable resources. Aristocracy is people given the right by a ruler to control a country’s resources, including its land and labor. Feudalism The business or economic system in which one class of people, aristocrats, control the property rights to all valuable resources, including people. Mercantilism The business system in which a product’s price differences are exploited by trading the product across markets and countries. Merchant A trader who uses the discrepancy between the value and price of a product in one market and another to trade goods for profit. Bankers The people who estimate the risks associated with a new venture and determine the way profits from a venture should be shared. Industrial Revolution era in the eighteenth and nineteenth centuries that marked improved production and trade brought about by advances in technology. Trust A combination of companies linked by legal titles and property rights that allow them...
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...Take Home Assignment Question 4: “Specialization can bring short-term rewards, but can lead, in the long run, to an evolutionary dead end” (Wright, 28). The end of a civilization and the end of a company or business are drastically different measures, but similarities can be made in history patterns as to why a civilization or business might come to an end. The Enron collapse and other civilizations such as Easter Island and the Sumerians show these patterns which caused a “dead end” for both. While the details of history never repeat themselves, the patterns of history do — with alarming regularity. The circumstances only seem new because they arrive in different wrappers. But the contents are the same. The same human character repeats the same behaviour, creating the same problems and stresses that we respond to with an old familiarity. There is a pattern in the past of civilization after civilization wearing out its welcome from nature, overexploiting its environment, over expanding, overpopulating. They tend to collapse quite soon after they reach their period of greatest magnificence and prosperity. Ronald Wright’s book A short history of progress explains civilizations such as the romans, Sumerians, and most notably Easter island that came to a collapse. Easter Island was a smaller society that eventually came to an end by exploiting resources that benefitted them in the short run rather than the long. This is what wright explained in the book to be a “progress trap”...
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...The Evolution of Business Ethics The Evolution of Business Ethics November 18, 2013 The Evolution of Business Ethics “The history of ethics in business is a long one, going back to the beginning of business. If it were written, it would be an enormous and complex work. Business ethics is so recent a phenomenon that many might claim it is too young to have a history” (De George, 1987). “As recently as a decade ago, many companies viewed business ethics only in terms of administrative compliance with legal standards and adherence to internal rules and regulations. Today the situation is different. Attention to business ethics is on the rise across the world and many companies realize that in order to succeed, they must earn the respect and confidence of their customers” (Enterweb, 2004). Ethics deal with a variety of moral dilemmas that can either make or break a business. A worker has to deal with the ethical aspect of handle situation when it comes to the public and their own personal beliefs. Ethical issues can be simple to very difficult to handle. When it comes to dealing with the public, they try to incorporate some of the values of their potential customers to lure them in to their establishment. By incorporating the general public in to the ideas at least they will learn what offends or gain the consumer respect. This will help build a positive outlook for the company if it is done correctly. Learning whether or not a company is ethically or morally...
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...Running head: THE EVOLUTION OF BUSINESS ETHICS The Evolution of Business Ethics Ebony Thomas Ashford University OMM 640 April 6, 2015 1 THE EVOLUTION OF BUSINESS ETHICS 2 The Evolution of Business Ethics Ethics includes a mixture of one's beliefs and standards in civilization. Every person has their own perspective of ethics because every situation, person, and culture is different. According to Ferrell et al (2013), "business ethics comprises the principles, values, and standards that guide behavior in the world of business" (Ferrell, Fraedrich, & Ferrell, 2013, p. 7). In simpler terms, business ethics are a collaboration of both society's ethics of right and wrong and the people who work for and have any involvement in an organization ethics. Therefore, regardless of an individual definition of ethics, it is equally important in a business environment and practicing good ethical behavior can eliminate the potential of a hostile environment. Ethics has changed tremendously over the years in society as well as the business world. This research will take a deeper look into the evolution of business ethics. A further analysis of the development of business ethics over the past decades and examines how the rise of social issues played an extensive role. Further, a discussion on how these changes impact current business philosophies and reporting practices will be also be reviewed. Development of Business Ethics Business ethics derived from innumerable changes that occurred...
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...The Evolution of Business Ethics Introduction In any business, decisions must be made to ensure that a business entity or firm is conformity with its vision as well as mission. Most of decisions made by businesses are tailored toward wealth maximization of the firm which ensures that there is continuity production and operation of the entity. It is clear that most if not all businesses want to make profits, however, it is undeniable too that businesses must also be socially responsible to their environment which in this case involves consumers, sellers, lenders, the government and the entire community at large (Ferrell, Fraedrich & Ferrell, 2011). For a business to be able to accept its social responsibility, then the application of business ethics must be applied. Business ethics is considered to be the accepted norms or set standards that determine what is right and wrong in the context of a business organization. Therefore, this paper will summarize the development of business ethics over the past thousand years and describe the major changes that led to the focus of business ethics. In addition, the paper will illustrate how these changes impact business practices and compare them with my personal values that have evolved over time. Development of Business Ethics over the decades The origin of business ethics can be traced back during the time of business development, this goes back before 18th century, like any other personal values and norms, ethics in business...
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...Pennsylvania Management 223 - Business Policy & STRATEGY Spring Semester, 1999 Course Description and Syllabus Instructors: Phanish Puranam (PP) & Michael G. Jacobides (MGJ) Office: 2061(PP) /2055(MGJ) SH-DH (Management Dept. Suite) Tel: 898-1231 (PP) / 898-1224 (MGJ) Email: puranam@management.wharton.upenn.edu jacobides@management.wharton.upenn.edu Class Hours: Tuesdays and Thursdays 12:00 to 1:30pm Office Hours: By appointment (PP) Course Overview This course focuses on strategic management and strategic decision making and examines issues central to the long-term and short-term competitive position of the company or division / business unit. Students are placed in the role of key decision-makers or their advisors and asked to solve problems related to the development or maintenance of the competitive advantage of the firm. We start the course by looking at strategy at the level of the business unit, which is the fundamental level for competitive analysis. The perspective taken is of a manager in a given unit with particular assets, capabilities and competitive challenges. We look at industry analysis, examine the sources of competitive advantage, and explore generic strategies: How can we analyze the competitive environment, and what are the basic options for business-unit level strategy? What are the bases of competitive advantage? What is the nature of the value chain? Following that, we look at how business units (but also entire...
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...1. In delivering a sales presentation, you are asked to deliver a follow-up sales letter which summarizes your presentation. Would this be a persuasive letter? Why? One of the best ways to follow up a sales call or meeting is to write your prospect the next day and thank him or her for their time. This is one of the simplest and most effective ways to stand out from your competition and reconfirm your interest in the relationship you’re building. The purpose of this letter in my opinion is to thank your prospective client for the meeting and to reinforce the potential relationship with you a valuable partner. The follow up letter is only to reinforce the relationship and the spirit of cooperation, I do not believe the letter should be an attempt to close with your prospect. Speak in terms of possibilities of a successful partnership and plans for a follow up meetings where you pour on the charm and persuasiveness to close the sale. 2. You are a Marketing Specialist who deals with clients on a daily basis. You have just received the following email: “Bob- We have just found out that the Accounting Department has overcharged Client ABC $12,023 in May 2008. Please contact Sue Smith in Accounting to figure out what the ramifications are, which other clients might be affected, and what the best way to resolve this issue would be. Regards, Tom Smith, President” You have Sue Smith’s email address, desk location, and office number. Decide which...
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...The Role of Ethics in Business Evolution Reconciling works of Managerial Literature, Business Ethics Writer and Catholic Social Teaching, Domènec Melé argued that a firm should be considered as a wholesome person and suggested the ethical implications of his view (Melé, 2012). The concept that a firm should be regarded as a legal person, and not just a profit seeking entity, was brought forth by the House of Lords in the (Salomon v. A. Salomon & Co. Ltd., 1897) case, paving the way for modern firms. Melé’s argument was revolutionary in that he considered the firm a wholesome person, bearing moral responsibilities for communities that it may potentially affect. This response paper aims to analyse Melé’s paper, further discuss his ideas, and finally incorporate the role of ethics in human evolution to project the possible direction of business evolution. The article started by suggesting that there are two views of the firm. The former views the firms as a nexus of contracts, implying that the firm functions as an aggregate of agreements. The latter views the firm as an aggregate of interests, adding a human element of desire to the soul-less assembly of agreements. Extending the addition of human element into the firm, Melé argued that the main constituent of a firm is social bonds, and thus, a firm should be regarded as a community. Personally, I think that the progression of arguments is well organised. Contracts stem from self-interests, and self-interests are derived...
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...E-Business The days of driving to a store to purchase something is not the only option. E-business has changed the way people shop on a regular basis. He remembers when he was a child his parents calling the number in the JcPenney’s catalog and explaining what they wanted to order, nowadays it is simple as a couple of clicks. This paper will discuss how e-business and evolved and compare and contrast the differences and limitations between e-business and e-commerce as they relate to supply chain management. He will begin by explaining the evolution of e-business. Evolution of E-Business The idea of e-business did not happen overnight, but once the Internet evolved it opened a new world to the way people shop daily and how businesses operate. People can sit in their living rooms and shop for anything and everything; without ever leaving the comforts of their own home. Businesses have come to the realization that the Internet is a very powerful tool and if they want to reach a new level they must look at evolving into the area of e-business. E-business started with major corporations; Wal-Mart, Sears, Target, and other retailers, but has evolved into some grocery chains offer customers the ability to shop for groceries online and have them delivered to their homes. He and his wife have taken advantage of how e-businesses have evolved. Where they use to stand in lines for Black Friday sales, they sit in their living room and do all the shopping from their computer, receiving...
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...ScienceDirect Information Systems journal homepage: www.elsevier.com/locate/infosys Version management for business process schema evolution Xiaohui Zhao a,n, Chengfei Liu b a b Information Systems Discipline, University of Canberra, Canberra, Australia Faculty of Information and Communication Technologies, Swinburne University of Technology, Melbourne, Australia a r t i c l e in f o abstract Article history: Received 20 October 2009 Received in revised form 22 January 2013 Accepted 28 March 2013 Recommended by M. Weske Available online 6 April 2013 The current business environment changes rapidly, dictated by user requirements and market opportunities. Organisations are therefore driven to continuously adapt their business processes to new conditions. Thus, management of business process schema evolution, particularly process version control, is in great demand to capture the dynamics of business process schema changes. This paper aims to facilitate version control for business process schema evolution, with an emphasis on version compatibility, co-existence of multiple versions and dynamic version shifts. A multi-level versioning approach is established to specify dependency between business process schema evolutions, and a novel version preserving graph model is proposed to record business process schema evolutions. A set of business process schema updating operations is devised to support the entire set of process change patterns. By maintaining...
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...Starbucks’ core business, the Company has taken initiatives to diversify its product lineup. Recent acquisitions of Evolution Fresh, Tazo, and Teavana demonstrate this strategy. We believe these strategic moves broaden Starbucks’ product mix, allowing the company to better position itself globally. These acquisitions also signify the Although coffee will be Starbucks’ core business, the Company has taken initiatives to diversify its product lineup. Recent acquisitions of Evolution Fresh, Tazo, and Teavana demonstrate this strategy. We believe these strategic moves broaden Starbucks’ product mix, allowing the company to better position itself globally. These acquisitions also signify the Although coffee will be Starbucks’ core business, the Company has taken initiatives to diversify its product lineup. Recent acquisitions of Evolution Fresh, Tazo, and Teavana demonstrate this strategy. We believe these strategic moves broaden Starbucks’ product mix, allowing the company to better position itself globally. These acquisitions also signify the Although coffee will be Starbucks’ core business, the Company has taken initiatives to diversify its product lineup. Recent acquisitions of Evolution Fresh, Tazo, and Teavana demonstrate this strategy. We believe these strategic moves broaden Starbucks’ product mix, allowing the company to better position itself globally. These acquisitions also signify the Although coffee will be Starbucks’ core business, the Company...
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...E-Business Evolution BIS375 November 2, 2015 E-Business Evolution The evolution of e-business started in the large spread of personal computers in the 1980’s and the commercial internet brought about in the 1990’s. The e-business spectrum refers to the implementation electronic technology in all business functions. E-business is inclusive of computers and internet for both internal and external operations as well communication and e-commerce across an organization. The e-business evolution has allowed businesses to go from storing physical paper in large filing containers to storing that data and much more in digital format on servers. The ability of organizations to electronically store and process data lets them improve both speed of information storage and processing. E-business has allowed organizations to go from manually forecasting business transactions to doing it with spreadsheets and dedicated software increasing information flow and speed to users and making the organization more efficient. The Internet has emerged as a significant aspect of today’s e-business evolution. In today’s marketplace larger companies have Internet accessibility to their goods as well services on their individual websites. The Internet will continues to change and improve, at some point even small businesses will need to acquire or develop their individual websites to be competitive in their own marketplace. The next e-business technology will be to have or acquire a mobile friendly...
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...to Beynon (2004), electronic business, commonly quoted as “E-business” is the set of all the activities of business by using information and communication technologies. Electronic business methods make corporates deal with their internal and external data processing systems more effectively and flexibly, cooperate more closely with suppliers and partners, and better meet the needs and expectations of their clients. Classified by market relationship, there are there models: business-to-consumer (B2C), business-to-business (B2B), and consumer-to-consumer (C2C). As a small company providing consultancy services in life science, the best sales strategy for Evolution Bioscience is E-business. However, this company does not make full use of its official website and several social media accounts to develop its business. This article describes Evolution Bioscience existing strengths and failing in using digital platforms such as its website and social media accounts first, and then, using SWOT and business models to analyse the company’s internal situation and via analysing the main social media to choose the suitable social media. Finally, according to the business models analysis, a recommendation mainly refers to B2B development is performed. Current situation of Evolution Bioscience EXISTING STRENGTHS As Jukes and Zilling presented in 2012, the most important for a company in E-business age is establish an official website. Evolution Bioscience has established its...
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...the theory of human behavior derived from the assumption of selfish rationality is inadequate to describe human behavior and human organizations (Rousseau et al., 1998). The issue is what other approach to theory building will provide an adequate theoretical toolkit for human behavior. We argue in this essay that evolutionary theory is the proper foundation for the human sciences, particularly a theory that includes an account of cultural evolution. This theory shows how the limited but real altruistic tendencies of humans arose by tribal-scale group selection on cultural norms followed by coevolutionary responses on the part of our genes. Our tribal social instincts in turn act as a moral hidden hand that makes human organizations possible. We introduce this theory and describe some implications of it for strategy and organization. In effect, managers want to control the cultural evolution of organizations so as to make them perform better. Understanding the tribal roots of our social instincts and the dynamic properties of cultural evolution should lead to a better understanding of the potentials of humans to create functional organizations and to a better understanding of how organizations can become dysfunctional and fail. We hope to strike up a dialog with SO!’s readers about the applications of cultural evolutionary theory. A challenge to management and management science Recent developments in...
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