STAKEHOLDERS For this assignment I will identify and explain the external factors that affect two contrasting businesses which are McDonalds and NHS. TASK 1 - POLICITCAL FACTORS Political Political factors are the changes that take within the government and that’s how it affects businesses. The stability of the government can hugely affect businesses or what type of government is ruling, their ideas such dictatorship, capitalism and others. The economic and trade policy makes it difficult for businesses. Credit crunch and recession are great examples of external factors influencing the business.
The key employees directly involved the outcome of the problem need to be involved in giving warning to consumers in order to protect the organization, but more important to protect the rights of the consumers. It would be consumers who purchased the products who may have risks, and they need to be able to make an informed decision and need to receive any warnings on the potential danger from the product. The company would be required to use any outlet such as the media, press releases and the company website in order to quickly get the information to the public. The marketing of the tainted
Why is it important to have a corporate code of conduct? How does having a code of conduct influence the company’s reputation and culture? DQ 5: Is it possible to have a profitable ethical program? Search the internet for an example, and provide the details on how a company is developing this, and whether you think it will work in the long run. DQ 6: What are some of the common unethical behaviors surrounding the revenue and collection cycle and the acquisitions and expenditure cycle?
How does governmental accounting differ from both of them? What is forensic accounting? What are other career options are there in the accounting field? Which one sounds most interesting to you? Of the several regulatory bodies, which has the most affect on companies?
Assess the corporate culture which is to provide relief to the victims of disasters and to prepare for and respond to emergencies. Identify the stakeholder groups by hiring an executive group and board of directors that are going to support the culture and abide by the vision statement. The executive board and board of directors need to address the ethical issues and challenges and prepare a plan to correct these current and a plan to prevent them from happening in the future. Identify the resources and determine the urgency needs to be a priority to help improve stakeholder perspective. They need to access the past performance issues and challenges and correct then by communicating with all the federal and local government agencies.
Topic: Crisis Communication – Risk & Uncertainty Case: Odwalla, Inc. (A) in O’Rourke, Management Communication (online and in courtesy pack) Reading: Argenti and Forman, “Managing Communications in a Crisis: Expect the Unexpected,” The Power of Corporate Communication (online and in courtesy pack) Assignment: 1. Do you consider the situation at Odwalla to be a crisis? What difference would it make if you did or didn’t? Yes. Addressing issues in times of crisis shows corporate responsibility and accountability with all stakeholders.
2. Develop a public relations strategy that BPI and other firms that manufacture LFTB could use to combat the bad publicity and efforts to ban the use of the products. Answer: BPI and other firms that manufacture LFTB could conduct a press conference. Media plays a huge role in influencing public’s behavior and attitude towards any product. They should communicate with various media channels and let them know that what they are doing is not wrong.
Lastly, we will summarize the information presented with a synopsis of what internal control measures are recommended. Ultimately, LBJ wants to go public in the future and to do so the company must have strong internal accounting controls in place and utilized. LJB Company: Internal Controls Report. Per LBJ’s request, this report has been created to provide your organization with the tools necessary to implement a solid internal control accounting procedure system. Internal controls are extremely important accounting practices that help ensure the safety of your business from fraud and clerical errors.
Case1 The goals of this case is to Searching for Byte alternative solutions to feed the increasing demand of its products so can it enable the corporation to maintain a market share also the Ethical dilemma regarding the company vs. Plainville , in addition to highlighting the social responsibilities of corporations that are for the most part considering profit maximization as their primary goal. Additionally, illustrating how the outside directors of the board can play an active role by avoiding groupthink and raising genuine concerns over management decisions by using their unbiased judgment and thereby providing efficient leadership to the company. Suggestions for settling the corporation impasse they can to return to the white board, searching for other solutions that capable to soothe the situation and finding way out to this impasse such as buying a small competitor or extending the business , Maybe Bytes Products and the competitor can enter into strategic alliances and building a new plant in the area may not be needed also According to Carroll’s four responsibilities of Business, Byte is already following the first two responsibilities, Economic: producing electronic components to meet the demand so that Byte could repay its stakeholders; Legal: follow accordingly to the regulation of the state. Hence to compromise for the present impasse, Byte has to follow the last two responsibilities which are Ethic and Discretionary. Byte has to tell its potential employees and town administrator about this temporary operation so that they can plan for their set back when the plant closed in the future.
Hiding accurate earnings, reporting inventory sold when it was not, and recording erroneous cash flows are just some of the ways that corporations have used to side step proper ethics. As citizens and government officials alike began to notice the increased frequency of these reports, legislation was based to combat corporations from using unethical business or financial practices. This legislation is called the Sarbanes-Oxley Act of 2002 (SOX), which dictates that standard practices and internal controls for financial reporting (Odom, 2012).