Conducting the majority of its practices to the standard of the AICPA, some of them stood out as non-standard practices. In this case it is in the form of capital spending. The effects of this misuse were experienced by many within and outside the company. In dealing with situations as these, one must identify violations of ethical behavior and accounting practice. AICPA American Institute of Certified Public Accountants (AICPA) is a voluntary organization of CPAs.
RUNNING HEAD: UNITED THERMOSTATIC CONTROLS CASE United Thermostatic Controls Case ETH/376 United Thermostatic Controls Case Meeting sales and revenue goals for companies throughout the United States are a common objective to achieve. However, when demands start declining, the chances of meeting goals began to decrease. Management will work hard to meet or exceed expectations, but there are some who will do whatever it takes to meet company goals. “The incentive to commit fraud typically is a self-serving one” (Mintz & Morris, 2011). United Thermostatic Controls is a publically traded corporation that specializes in manufacturing and marketing thermostats for residential and commercial consumers.
Managed care organizations scrutinize expensive procedures to be sure they are necessary. At times patient desires and needs come into direct conflict with economic pressures. Studies have shown that about 30% of operations recommended by surgeons are unnecessary, the majority of these procedures would accomplish their purpose, and other methods would achieve similar results without operation. Managed care organization will refuse to pay for an operation if they feel it is unnecessary. Another way managed care organizations control costs is by eliminating expensive doctors from their provider list.
Without prior market penetration of an organization’s competetitors, the usefulness and effectiveness of properly marketing a new product or service can be quite burdensome. This is due to the fact that an organization runs a major risk of constantly striving to maintain its customer base, as the new type of product or service has not yet been introduced into the maintstream. Additionally, pricing may be an issue based upon: Should pricing be very low to attract new buyers?, or Should pricing be set high to offset initial entry into a new marketplace? These are the questions that an organization must face, but for the most part, being a
MGT600: Unit 2 DB2: Bias and Judgment Introduction In order to successfully run a business, it is important to make decisions without the element of bias. However, it is sometimes difficult for the decision maker to guard themselves against bias. Human beings are often ruled by their emotions and therefore bias occurs in our judgment most times on unconscious level. Bias is a predisposition to behave in a certain way. (Bazerman and Moore, 2010).
Beal (2004), said that “Convincing senior management of the value of a loyalty program requires organizations to get their data in order. Customer loyalty programs collect massive amounts of data but many companies aren't using it. Customer loyalty data provides insight into both share of wallet -- or customer penetration -- and lost customers.” This is where you must take the data collected and be able to separate the sales that are repetitive and the sales that are impulse buys. While we all love impulse buys, this is only a margin of the metric used to understand what and why your customers will come back. Larry Goldman (2008) explains that, “Your definition of a loyal customer will determine how you measure the success of your loyalty program.
| Is selling body parts ethical? When rich patients in need of organs take advantage of the world’s poor. They promise cash rewards for donation are sometimes not kept and when they are kept they can be for less than agreed upon. What can they do then the organ is gone. | 2 | Identify any examples of bias presented by the author.
A lot of research goes into making business decisions but if for each decision, one had to follow the Bazerman and Moore’s six-step model even less would get accomplished. This in the end would be even more
If a business fails to abide by OSHA regulations, heavy fines are applicable. By ignoring regulations and not enforcing them, companies can be fined. Although the extra OSHA training and protection may prove costly at first, the added safety for employees will pay for its self in the long-run. Department stores are treated the same as any other employer by OSHA, but there are some particular regulations of which they must be especially mindful. While employed at Wal-Mart in 2009 I had a firsthand experience as to why OSHA regulations were important.
L. Sierra said this statement, “The sad fact is that many business leaders don’t understand the value of communication” (L. Sierra, 2003). Personally, I find this fact to be shocking but I can also say that in my personal experience of dealing with people it is true. Sierra gave an equation to show non-communicators the value of communication. Sierra equation is: “Value = (Cost + Effort) Perception; That is, the value of communication is equal to the costs plus the efforts of what you're communicating to the power of perception.” (L. Sierra, 2003). Can we really measure the value communication?