Mini Case a. Why is corporate finance important to all managers? Corporate finance is important to managers because managers of a company must know the finance of a company which is used to help managers to know the health of the company and can act accordingly with a common guideline. b. Describe the organizational forms a company might have as it evolves from a start-up to a major corporation.
The relationship is related to the needs of stakeholders and the ability to expect peculiar things from the organization so that they can maintain a trustful relationship in the organization (Castaldo, 2007, p. 57). In this situation, the leadership of a company needs to ensure that the organization develops an organizational culture that uses ethical stewardship to develop a sense of corporate trustworthiness among its various stakeholders so that it can enhance its sustainability in a highly competitive market (Sebastian, 2011). In this investigation, a research was done regarding the relationship between leadership, ethical stewardship and trustworthiness in corporate organizations and the issues related to the relationship if the business is totally invaded by an information system. A number of researchers support the theoretical concept of trustworthiness in corporate relationships in different ways. Individuals such as Covey and Paine suggest that a long-term trustworthiness is essential to establish a sustainable organization (Coldwell, Hayes & Long, 2010).
There is a school of thought which sees social responsibility as a contractual obligation the firm owes to society (Donaldson 1983). Integrated social contract theory was developed by Donaldson and Dunfee (1999) as a way for managers to make ethical decision making, which refers to macrosocial and microsocial contracts. The former refers to the communities and the expectation from the business to provide support to the local community, and the latter refers to a specific form of
QBT Task 4 – Final Version 2 Robb Farrell Western Governors University Student ID# 000242903 THE REAL BOTTOM-LINE OF TODAY’S BUSINESS Research reveals that companies that focus on adhering to ethical standards and investing in socially responsible practices to the benefit of all stakeholders have a significant business advantage it today’s market place. Socially and ethically conscious originations have compelling business results in related to employee loyalty, company profits and consumer affinity. There was a time in our capitalist society that an organization’s number one priority and predominant focus was profits and shareholder interest. Indeed things have and are changing. In today’s market climate, companies have had to increase their consciousness as to what really matters.
What does this mean and how can you, as a leader, promote ethical workplace behaviours? Submit your answer for assessment. Managers focus on operations, leaders work with people to encourage them to use their own initiative and improve their skills. Manager is a designated position - positional power. Leadership is a personal characteristic - personal power.
EST1 Task 310.2.1-05: Ethical Situations in Business Western Governors University February 2, 2013 EST1 Task 310.2.1-05: Ethical Situations in Business Companies have four levels of social responsibility: 1) economic, 2) legal, 3) ethical, and 4) philanthropic. A company has to balance its duty to shareholders to make a profit with its contract with society to make socially responsible decisions. In order to increase profit, a company must understand the needs of the stakeholders and develop a coordinated plan which establishes standards within the company that can be understood and accepted by all employees; as well as supporting the needs of the community it serves. Company Q has supported the need to improve profit by closing two unprofitable stores. However, an analysis should be made regarding the need to close those stores.
C. improve the performance of people. D. improve the quality of overall work life. 4) Which of the following statements about the management of organizational culture is NOT correct? A. dictate rules from the top of the organization. B. corporate culture can be managed by directly modifying the observable culture, shared values, and common assumptions that deal with issues of external adaptation.
Hermes believed in successful stewardship involving using its vote in approving the board of directors. Its aim is to lead in promoting better management and intervening in companies which were failing to resolve critical issues such as board structure, strategic direction, capital structure, and corporate governance, problems in company’s management. Their objective is to maximize the returns to its shareholders. The company is concerned about governance, ensuring that the board of the company had the right mix of entrepreneurship, expertise and independence to maximize the company’s values. They possess the necessary resources to build the monitoring capabilities and have better access to information.
Evaluating and Improving Internal Control in LJB Company Introduction Internal control is one of the integral parts of a company. To improve management’s ability to analyze and assess the profitability of their business, we review the already established internal control system and recommend, where needed, improved internal control procedures that defenses against business failure, drive business performance, and to manage risks in achieving the business’s goal. Why Internal Control is Important The overall purpose of internal control is to help an organization achieve its mission, accomplish its goals and maximize profit while reduce risk. An effective internal control system has primary components: * A Control environment * Risk assessment * Control activities * Information and communication * Monitoring In this analysis, we will focus on Control Activities since it is the backbone of LJB company’s efforts to address the risks it faces. The six principles of control activities are as fellows.
This research looks at improving the social performance the company while providing responses to the following questions: 1. Describe your company and analyze the various primary and secondary stakeholder groups, their roles and relationships? 2. Recommend ways the stakeholders can influence the destiny of your business? 3.