...What is Milton Friedman’s view on the social responsibility of business? Milton Friedman believes that business have a social responsibility to its shareholders, not anyone else, as long as all requirements by law are met. According to Friedman, a business' main goal is to make profit and win. Having an interest in anyone other than the stakeholders translates into stealing from the stakeholders, whom are the only ones with rightful claims and concerns. In the case of Weyco Inc., the company does not follow the social responsibility that Friedman talks about. By implementing the policy, Weyco is trying to dedicate their "social responsibility" to the health of its employees. Although they back it up with saying that the policy helps reduce health care costs, the company may lose valuable human resources due to the right to fire employees who do not wish to follow the policy, therefore, the company may suffer and shareholders could potentially affect the company's success. What are the six groups of stakeholders and what does it mean to say we should take account of the interests of stakeholders in business decisions? The six groups of stakeholders consists of the owners, employees, customers, suppliers, the industry, and the community. In order to take into account the interests of stakeholders in business decisions, a company must first know who are the stakeholders and why they have an interest in the company. Although most theorist such as Carr and Friedman, suggest that...
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...Regulations Stifle Business Owners Smoking Preference Smoking related issues has become a very controversial topic. Some people may agree that cigarette smoking should be regulated while others may think that it is an individual’s choice to smoke wherever or whenever they want to. This makes smoking cigarettes an arguable topic. United States (U.S.) legislators, state governments, and local authorities have been increasingly restricting where consumers can smoke. Legislation has been further limiting smoking in public places which is causing businesses to lose customers. While it is plausible to control smoking in some industries, business owners of strictly adult only enterprises should be allowed to decide whether smoking or nonsmoking preferences help their business to be profitable. Lawmakers that have banned widespread smoking in communities may not understand the economic impact on businesses that depend solely on adult patrons. For many years, there were no regulations against smoking tobacco products. This allowed the tobacco industry to cash in on the profitable commodity. Smoking became a status symbol. “From the beginning of the 20th century, society[->0] considered smoking fashionable and a status symbol” (Zilli). However, by the 1990s, “The World Health Organization (WHO), seeing smoking as the most preventable cause of ill health worldwide, edged in 1994 a little closer to its objective of a smoke-free world” ("Tobacco"). Arguments that support smoking bans include...
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...WELLNESS AND THE CLEVELAND CLINIC’S NICOTINE TESTING IN PRE- EMPLOYMENT PHYSICALS By Asbjorn Osland and Pamela Wells Department of Organization & Management College of Business San José State University “As a leading healthcare organization dedicated to fighting disease and advocating healthy living, our policies and procedures must reflect that commitment,” said Delos M. “Toby” Cosgrove, M.D. CEO and President of Cleveland Clinic. “Having banned smoking from our campuses and launched a communitywide program to promote smoking cessation, incorporating Cotinine testing is a natural extension of our efforts to highlight the perils of tobacco use.” The Cleveland Clinic informs applicants when they apply for work that those that “applicants who test positive for tobacco products will not be considered for employment and will be referred to tobacco cessation resources paid for by Cleveland Clinic. After 90 days, applicants successful in quitting will be encouraged to reapply.” Existing personnel are not covered by this policy. The Clinic continues to offer existing personnel extensive support and guidance to quit using tobacco. Use of Tobacco by Employees One has to recognize that some people enjoy tobacco. Standing outside with a group of friends smoking during a break provides camaraderie. Pacing one’s actions throughout the day by indulging in a smoke break is pleasurable for many. Smoking also satisfies one’s oral needs that may otherwise be met by eating;...
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...Introduction: The amazing thing about designer's footwear is that it follows the latest trend which the people want to see in their favorite store. The top designers like Thierry Rabotin shoes or Vibram five finger shoes always go for the buyer's choice of style and design at the same time. You can visit a department store or specialty stores for a variety of styles for every family member. If your time is limited, do a search on the internet where you can find a large selection of shoes to fit your needs. These websites make it very convenient for the consumer to order and it can be shipped as early as twenty-four hours. No matter what taste the buyer's has, from casual to formal footwear and from sports footwear to normal walking type shoes, there is an unlimited range that can be confusing for customers as to which one will suit them best. If the price is right, you can purchase more than one pair of shoes There are people who prefer shoes that are comfortable rather than being fashionable. Today's footwear market offers a large selection of styles that comfortable as well as being stylish which is good news for people who have foot problems. Shoe designers have provided all the latest variety in footwear that can be found online or your favorite local store. The latest trends in footwear are often seen on famous celebrities or athletes. Fashion magazines feature the latest styles as well. If you know the brand name, you can search the internet to find what is currently...
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...FUNDAMENTALS OF Corporate Finance SECOND EDITION This page intentionally left blank FUNDAMENTALS OF Corporate Finance SECOND EDITION Jonathan Berk STANFORD UNIVERSITY Peter DeMarzo STANFORD UNIVERSITY Jarrad Harford UNIVERSITY OF WASHINGTON Prentice Hall Boston Columbus Indianapolis New York San Francisco Upper Saddle River Amsterdam Cape Town Dubai London Madrid Milan Munich Paris Montreal Toronto Delhi Mexico City Sao Paulo Sydney Hong Kong Seoul Singapore Taipei Tokyo The Prentice Hall Series in Finance Alexander/Sharpe/Bailey Fundamentals of Investments Bear/Moldonado-Bear Free Markets, Finance, Ethics, and Law Berk/DeMarzo Corporate Finance* Berk/DeMarzo Corporate Finance: The Core* Berk/DeMarzo/Harford Fundamentals of Corporate Finance* Bierman/Smidt The Capital Budgeting Decision: Economic Analysis of Investment Projects Bodie/Merton/Cleeton Financial Economics Click/Coval The Theory and Practice of International Financial Management Copeland/Weston/Shastri Financial Theory and Corporate Policy Cox/Rubinstein Options Markets Dietrich Financial Services and Financial Institutions: Value Creation in Theory and Practice Dorfman Introduction to Risk Management and Insurance Dufey/Giddy Cases in International Finance Eakins Finance in .learn Eiteman/Stonehill/Moffett Multinational Business Finance Emery/Finnerty/Stowe Corporate Financial Management Fabozzi Bond Markets: Analysis and Strategies Fabozzi/Modigliani Capital Markets: Institutions...
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