3. Corporations practicing stakeholder management will be more sustainable. Discuss. Over the years, social and ethical concerns have brought attention to the community that caused much bitter conflict to the relationship between business and society. As people become better educated and more affluent, rising expectations naturally follow for major institutions and these developed a backdrop against which criticisms towards businesses have grown. Therefore, these created the need for them to assume
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been estimated to save $500M annually Weaknesses * Decline in comparable retail sales from economic downturn * Litigation leading to bad press regarding merger with May Department Stores Company, where board of directors were allegedly fiduciary duties of loyalty and good faith to May shareholders * Impersonality of a national brand where one size does not fit all * Finding a middle ground between Wal-Mart bargain customers and higher-end Neiman Marcus and Nordstrom customers; Bloomingdale’s
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Unit Name: Business & Finance Ethics Unit Code: BBC1001 Year: 2015 Semester: 2 Location: City Flinders Prepared by: Dr Michelle Fong Welcome Welcome to this unit of study. This Unit Guide provides important information and should be kept as a reference to assist with your studies. This Guide includes information about your reading and resources, independent learning, class activities and assessment tasks. It is recommended that you read this Guide carefully: you will be expected to manage your
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-1The Ford Pinto case is an oft-cited example of business ethics gone wrong. Many people have been appalled by Ford’s lack of concern for human life. Ford rushed its production time to produce the Pinto in order to be able to compete with foreign companies that were monopolising the American small-car market in the 1960s. Before production, however, the Ford engineers discovered that there was a major flaw with the Pinto: in nearly all rear-end crash tests the car’s gas tank would burst into flames
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A Primer on Sarbanes-Oxley By Steven Williams Activity 7 MGT7019-8 NorthCentral University Abstract This paper identifies issues, activities and practices,in financial reporting by public companies that were sanctioned by the Sarbanes-Oxley legislation Act of 2002 (SOX). This act was passed with the intent to restore public confidence and increase transparency in financial reports of publicly held companies, due to the aftermath of the financial scandals that plagued companies such as
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------------------------------------------------- business and company law Section 228(1) of the Companies Act 2014 details the eight fiduciary duties directors of companies are obliged and compelled by law to comply with. The question is why it is necessary through the application of law to limit director’s decision making responsibility. The potential for directors to abuse their positions of power with regards to company’s assets in the daily running of the company seems limitless even when
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Chapter 2 Fund Accounting ------------------------------------------------- Questions for Review and Discussion 1. In governmental accounting, a fund is a fiscal and accounting entity with a self-balancing set of accounts used to account for an organization’s resources and claims against those resources. In business accounting, by contrast, funds generally refer either to working capital (current assets less current liabilities) or to selected components of working capital
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triggered the Sarbanes-Oxley Act of 2002 (SOX), a new era of stakeholder expectations was crystallized for the business world and particularly for the professional accountants that serve in it. The drift away from the professional accountant’s role as a fiduciary to that of a businessperson was called into question and reversed. The principles that the new expectations spawned and renewed resulted in changes in how the professional accountants are to behave, what services are to be offered, and what performance
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Dianne O’Neill Econ. 311 Case Study- Countrywide Financial September 21, 2013 Countrywide Financial was the largest provider of home loans in the United States by the early 2000’s. It was cofounded by Angelo Mozilo in 1969. Countrywide was the primary provider of home loans to minorities in the US and had lowered the barriers of homeownership for lower income families. In 2003 the company launched a campaign designed to provide $1 trillion in home loans to low income and minority borrowers
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No matter whether the discourse is of corporate social responsibility or of sustainability there exists a high degree of scepticism about the reality of corporate activity. Accusations of greenwashing – presenting a false picture – abound. We argue that this is a legacy of past behaviour when such an accusation could reasonably be made about many organisations. Our argument is the CSR is a developmental process and changes as organisations mature in their behaviour and attitude towards both their
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