...10 Business Ethics/Social Responsibility/Environmental Sustainability 1) Many people consider it unethical for a firm to be socially irresponsible. Answer: TRUE Diff: 1 Page Ref: 310 AACSB: Ethical Understanding and Reasoning Abilities Objective: 10.01 Explain why good ethics is good business in strategic management. Learning Outcome: Discuss the roles of ethics and social responsibility in strategic management 2) Social responsibility refers to actions an organization takes that are legally required to protect or enhance the well-being of living things. Answer: FALSE Diff: 2 Page Ref: 310 AACSB: Ethical Understanding and Reasoning Abilities Objective: 10.01 Explain why good ethics is good business in strategic management. Learning Outcome: Discuss the roles of ethics and social responsibility in strategic management 3) Sustainability refers to the extent that an organization's operations and actions protect, mend, and preserve rather than harm or destroy the natural environment. Answer: TRUE Diff: 1 Page Ref: 310 Objective: 10.05 Discuss specific ways that firms can be good stewards of the natural environment. Learning Outcome: Discuss the roles of ethics and social responsibility in strategic management 4) Good ethics is not a prerequisite for good strategic management. Answer: FALSE Diff: 2 Page Ref: 311 AACSB: Ethical Understanding and Reasoning Abilities Objective: 10.01 Explain why good ethics is good business in strategic...
Words: 9111 - Pages: 37
...Global Strategy and Leadership is the capstone segment for the CPA Program professional level. This segment consolidates your learning in the other three compulsory segments, Ethics and Governance, Financial Reporting and Strategic Management Accounting. In the increasingly complex business environment in which organisations operate, characterised by change, uncertainty and escalating competition, the disciplines of strategy and leadership have become critical to successful organisational performance. The aim of this segment is to link the knowledge of management and financial accounting to the concepts of strategy and leadership. Accountants use a variety of technical information to make decisions for the future of the business within an ethical framework of operation. This segment shows that accounting information, ethics, strategy and leadership are applicable to accountants working throughout the world in diverse organisations. As discussed in Ethics and Governance, accounting as a profession is respected internationally and CPAs are employed worldwide. The segment materials address the needs of candidates operating in different international markets in varying roles. This segment builds upon knowledge gained in the other three compulsory segments of the professional level. The concepts of professional ethics and good governance underpin the segment. Candidates who have previously undertaken the Advanced Audit and Assurance or Strategic Management Accounting segments will...
Words: 1714 - Pages: 7
...The Economic Environment Facing Global Business KEY MACROECONOMIC INDICATORS • Economic Growth • Inflation • Surpluses & Deficit KEY MACROECONOMIC INDICATORS : ECONOMIC GROWTH • GDP and GNI (or GNP) – High or Low – total amount of goods and services produced in a year within the domestic territory) or GNI (GDP + net income) – Per capita GNI (total GNI divided by total population) – PPP GNI (unmber of units of a country’s currency required to buy the same goods and services in the domestic market that $1 will buy in USA KEY MACROECONOMIC INDICATORS : INFLATION • Increase in prices • Inflation rate percentage increase in the change in prices from one period to another, usually a year • Demand more than supply • Inflation effects – interest rates – exchange rates – cost of living and – General confidence in a country’s political and economic system KEY MACROECONOMIC INDICATORS : INFLATION • Inflation and Interest rates • High inflation – High interest rates KEY MACROECONOMIC INDICATORS : INFLATION • Inflation and Exchange Rate • Higher inflation – devaluation • Case 1 • UK exporter – US distributor • Cost 100 pounds Exchange rate $1.59 / GBP • Cost to US distributor $159 • Case 2 – High Inflation – exchange rate constant – exports will be costly • Cost 110 pounds Exchange rate $1.59 / GBP • Cost to US distributor $174.90 – High Inflation – currency devaluation – exports will be competitive • Cost 110 pounds Exchange rate $1.47 / GBP • Cost...
Words: 901 - Pages: 4
...and taking corrective action against the various business processes of the organization which include the strategic implications on corporate level, divisional level, strategic business unit (SBU) level and marketing level. The foremost requirement while understanding and developing this process is to carry out environmental scanning to study the external and internal factors that affect the decision in the development of the strategies and the tactics. Environmental scanning implies the process of examining the open system (external environment) and closed system (internal environment), monitoring the results and distributing it to the key managers at the right time and the right place with the required information. For a sound strategic decision to be formalized by the marketers it is very important for the firms to scrutinize their business processes by analyzing the internal and the external environment that it constitutes. Purpose of Marketing Environment Analysis: • Understanding the opportunities and threats is possible by environmental study • Strategic responses to the environment is spotted by the analysis • Examining the environmental factors provide insights into the future perspective of the strategies harnessed. • The favorable and the unfavorable trends and the events can be observed and studied in a methodical manner. • To have a proper balance between the environments and the business units, which include the marketing department which...
Words: 2494 - Pages: 10
...analyze the article according to paragraphs as they appear relevant for purpose of analysis. RELEVANCE TO INTERNATIONAL BUSINESS To my understanding, I believe the first paragraph tells us that as Managers we should not deprive employment to a prospective employee based on his/her societal standing or neither affiliation, neither sexual orientation nor religious affiliation, race and gender, Managers should strive to hire the best candidate for a position. This paragraph relates to paragraph 3 on the appendix talking about the “Caste” system which defines a “Caste” as a group of families whose members can marry with each other and eat in each other’s company without believing themselves polluted. This also relates to black and white segregation in the United States. As managers we should know this ethically wrong in business, employees should be hired based on their capability to perform their job description task and not based on race, political affiliation, gender and societal affiliation. To my understanding, I believe second paragraph talks about “Cultural Beliefs” of a particular society, it means as managers we should strive to familiarize with the cultural values or customs of a society we conduct business in. Even if such customs are discriminating in nature we should be diligent and try to make the right decision to make the business environment conducive. But it does not mean employment should be at any time...
Words: 1024 - Pages: 5
...footprint, the need for reliable, ethical, and sustainable suppliers also increases. Understanding this need, more businesses are engaging suppliers that are the most cost effective and not necessarily the most ethical. This brings me to the research of purchasing ethics. Specifically how do ethics change the landscape of today’s global market? This paper will look at several factors that include the cross cultural understanding of ethics, the personal and professional responsibility, and several ethical challenges such as environmental responsibility and human rights and the impact it has on the global market. Key Words: business ethics, global market, cultural factors, professional responsibility, ethical challenges I. WHAT IS ETHICS – DEFINITION AND UNDERSTANDING Clearly define what ethics mean in the global market and the domestic market and how it is interpreted in each. II. CULTURAL FACTORS IN GLOBAL MARKETS Identify how cultural factors such as religion, sexual orientation, and accepted standard practices influence or hinder international and domestic business. III. PERSONAL AND PROFESSIONAL RESPONSIBILITY TO BUSINESSES Identify the responsibility and moral obligation when ethical dilemmas occur, your personal code of ethics or that of the executive, or corporation. IV. ETHICAL CHALLENGES TO GLOBAL MARKETS Understand the responses and challenges to the environment, human rights, and the corporations. V. CORPORATE RESPONSIBILITY TO CHANGE...
Words: 3467 - Pages: 14
...Homework III 25 Point 5-1 a. What is the overall objective of the financial statement audit? The overall objective of a financial statement audit is the expression of an opinion on whether the client's financial statements are presented fairly, in all material respects, in conformity with GAAP. b. Identify the six phases of a financial statement audit. The six phases of a financial statement audit are: • Phase I: Perform Risk Assessment Procedures. • Phase II: Assess the Risk of Material Misstatement. • Phase III: Respond to Assessed Risks. • Phase IV: Perform Further Audit Procedures. • Phase V: Evaluate Audit Evidence. • Phase VI: Communicate Audit Findings. 5-2 a. State the five categories of management’s financial statement assertions and briefly explain each. The five categories of management's financial statement assertions are (1) existence or occurrence, (2) completeness, (3) rights and obligations, (4) valuation or allocation, and (5) presentation and disclosure. • Assertions about existence or occurrence deal with whether assets or liabilities exist at a given date and whether recorded transactions have occurred during a given period. • Assertions about completeness deal with whether all transactions and accounts that should be presented in the financial statements are so included. • Assertions about rights and obligations deal with whether assets...
Words: 883 - Pages: 4
... At the end of the module we are able to subject the. * Concepts of strategic management to critical analysis; analyze the business and competitive environment; formulate competitive and development strategies drawing on relevant concepts, demonstrate an awareness of factors that must be considered in implementing strategy and leading strategic change. * A critical understanding and appreciation of the various behavioral manifestations of customer engagement * Identify and critically evaluate relevant theories underpinning such customer behaviors * Consolidate and integrate the knowledge and understanding gained from this module with other associated marketing modules * Sufficient knowledge to identify and manage these customer behaviors in their own or a related business * A comprehensive knowledge and understanding of the frameworks and concepts of strategic market management and planning. * To demonstrate expertise in conducting a strategic audit of an organization and recommend and implement a strategic marketing plan based on a full critical evaluation of the options available * Demonstrate a comprehensive knowledge, understanding and critical awareness of some of the key elements of customer engagement. Learning Outcomes: Knowledge and understanding This module develops a knowledge and understanding of: * Markets -...
Words: 909 - Pages: 4
...Organisational Environment Content |1. Abstract |Page 4 | |2. Task 1: Learning log |Page 5 - 12 | |3. Task 1: Summary of academic journal |Page 13 -14 | |4. Task 1: Reference |Page 15 | |5. Task 1: Indexes |PDF file | |6. Task 2: Marks and Spencer operation report |Page 16 - 26 | |7. Task 2: Reference |Page 27 - 28 | ABSTRACT MBA 405 - Global Organisational Environment Probably everyone will agree that at the beginning of the 21st century, the impact of globalisation on countries, societies, businesses and individuals have been much more evident than ever before. Especially for businesses and organizations, globalization has impacted considerably on the way businesses are operated, managed and developed. Success of businesses and organizations have been so dependent on how well and proactively they have responded to the global organizational environment. This paper...
Words: 7346 - Pages: 30
...to Search your Class through Our Product Categories or From Our Search Bar (http://hwguiders.com/ ) Roles and Functions Paper Today’s health care needs a manager who has understanding of management and the skills needed to manage within the health care environment. This management refers to activities included in planning, organizing, leading and controlling of an organization. The manager must respond and adapt to the changes in an organization required by the needs of the patient population it serves. Managers must be accountable not only in decision-making, but productivity, cost containment, safety, confidentiality, etc. An effective manager must be accountable, create a quality work environment, and understand the value of a diverse workplace as well as other important functions that contribute to effective management. Although the roles of manager vary, all managers in any health care organization or any organization for that matter must manage effectively using the management process, being accountable for themselves and others, using the principles of effective time management, networking, recognizing and supporting the department of intellectual capital and other essentials of successful management. To be able to achieve this, a manager must understand the business environment, and the people that will be involved in these changes, such as employees and other stakeholders that directly or indirectly impact its success. HCS 325 Week 1 Individual Assignment...
Words: 5897 - Pages: 24
...UNDERSTANDING CORPORATE REBRANDING: AN EVOLUTION THEORY PERSPECTIVE Alexander C. Tevi, M.Sc. Faculty (Marketing Communications) School of Media and Communication Pan-African University 3, Ahmed Onibudo St. Victoria Island Lagos Nigeria 00234 802 300 2328 alextevi@yahoo.com Olutayo Otubanjo, PhD Senior Lecturer (Marketing) Lagos Business School Pan-African University Km 22 Lekki Epe Expressway Ajah, Lagos, Nigeria. 00234 808 608 6816 totubanjo@lbs.edu.ng Electronic copy available at: http://ssrn.com/abstract=2197664 Abstract Purpose: This paper seeks to create an epistemologically grounded understanding of the causes and process of corporate rebranding via the lens of the theory of evolution by natural selection. Approach: A review of the factors that trigger corporate rebranding, as reported in academic literature, is made. Following the review, a case is made for the absence of an epistemologically grounded understanding of why firms rebrand. Consequently, the theory of evolution by natural selection is brought forward as a platform for the development of a new model that explicates the causes and process of corporate rebranding. Findings: A new model anchored on the theory of evolution by natural selection, and a new definition of corporate rebranding is advanced. Essentially, the model offers epistemologically grounded reasons for ascendancy of corporate rebranding in the environment. Limitations: This is a conceptual paper – meaning that the model suggested in this...
Words: 4024 - Pages: 17
...Strategic Plan, Part I: Conceptualizing a Business BUS/475 January 27, 2014 Strategic Plan, Part I: Conceptualizing a Business Organizations must be able to stand out and stay competitive with other organizations within the same industry. In my community, a small business that needs to be introduced is a day care center. I will be the owner of the center and operator of the center; the décor will be kid friendly with bright clean colors. This will be a place when a family walks into the center it feels welcoming. Setting my day care center apart from the other centers in the area will be a challenge. Below is the mission and vision statement for my establishment along with the outline of how I plan to set my business on top of the other establishments. Mission Statement The child care center will provide a safe, developmental program (age appropriate) environment for infants, toddlers, preschoolers, pre-kindergarten, and school age children. The focus of the center is to provide early education, which will increase social/emotional, physical, and cognitive development. Teachers will provide a good environment to help promote good behavior and manners. Our goal is to support the willingness to learn in which is in the best interest of the children. Vision Statement The child care center will be known for superior quality education. Our center will provide a place where parents and children can interact in a safe environment and still have fun. The employees are trained...
Words: 1069 - Pages: 5
...providing information from internal and external environments to the executives so measures can be taken to take advantage of the information and succeed. SWOT (strengths, weaknesses, opportunities, threats) analysis is a key element of environmental scanning process which provides detailed information for the organization that can assist in growth and profits. Environmental scanning and SWOT analysis and how organizations use these tools to succeed and grow will be discussed in this paper. Environmental scanning is a process which monitors, evaluates, and disseminates information from internal and external environments to the people of the organization responsible of making decisions regarding growth and success of the company. Scanning the natural environment, societal environment (STEEP analysis), and task environment are the key elements of identifying the external environment. SWOT analysis should be performed to assess the internal environment of the organization. (Wheelen & Hunger, 2010) In scanning the natural environment, strategic managers must assess physical resources, wildlife, and climate. “The concept of sustainability argues that a firm’s ability to continuously renew itself for long-term success and survival is dependent not only upon the greater economic and social system of which it is a part, but also upon the natural ecosystem in which the firm is embedded” (Wheelen & Hunger, 2010). When scanning the natural environment, strategic decision-making process must include...
Words: 1305 - Pages: 6
...Understanding in the business setting Cultural diversity in profession Understanding in the business setting Understanding the cultural, ethnic, and gender differences of other individuals is a pivotal corner stone of the business setting. Diversity encompasses many different categories. These categories, as it pertains to the workplace, include work experience, educational background, cultural, ethnic and gender differences. Without it, individuals in the work force run the risk of being insensitive to these differences and may end up offending their peers. When there is a lack of understanding, it can affect the performance of the work place, and can create tense interactions between co-workers. It can also create an environment that is mistrustful, apprehensive and discontented. Understanding these differences is the key to avoiding these negative environments that are not conducive to a positive work setting. Diversity in the workplace creates many benefits. One benefit of diverse backgrounds is that it allows individual talents and experiences that can lead to and create more diverse problem solving solutions, thus making that business more efficient. Diversity can also bridge the gap between languages, opening doors for growth beyond those barriers. When there is understanding from managers and business owners there is an increased rate of productivity in a workplace. Also, by embracing the differences of their employees the business can benefit from an increase...
Words: 646 - Pages: 3
...Unit title Level Credit value Unit code Unit review date Understanding Organisations and the Role of Human Resources 31 4 3HRC Sept. 2011 Purpose and aim of unit This core unit provides an introduction to the role of human resources and learning and development (HR/L&D) within an organisation and the environmental context. By the end of this unit the learner will have developed their understanding of how HR activities support an organisation’s strategy and assist the achievement of business objectives and how these are shaped by internal and external factors. This unit is suitable for persons who: are aspiring to, or embarking on, a career in HR/L&D are working in the field of HR/L&D in a support role and wish to develop their knowledge and skills have responsibility for HR/L&D activities and decisions within an organisation without a specialist function are employees or independent consultants within the field of HR/L&D wish to understand the role of HR/L&D in the wider, organisational and environmental context. Learning outcomes On completion of this unit, learners will: 1 Understand the purpose of an organisation and its operating environment. 2 Understand the structure, culture and functions of an organisation. 3 Understand how HR activities support an organisation. 1 Equivalents in Ireland = 5; Scotland = 6 CIPD unit 3HRC - Version 2 - 17.03.10 1 Unit content Indicative content is provided for each of the learning...
Words: 1846 - Pages: 8
