Credit crunch and recession are great examples of external factors influencing the business. If the people are suffering from recession, they will not have money to spend money and this is how it affects the businesses. The current instability in Iraq is a good example of what may happen to businesses. In business it’s very important to understand, monitor and adapt to the political environment, because it crucially affects every business. Some of the very important factors are: Government stability effects businesses in a great range by competing with businesses to lower their costs, transparency is another important factor where anything the business does is revealed to the government and the government know exactly what they are up to.
These days people have been very caught up in how societies disposal of fuels and waste products have effected the environment. This has led to certain products of our manufacturers to be examined and looked at for change. Kim Jeffery is the president and CEO of Nestle Waters North American Inc. He and others within the bottled water industry are feeling pressure from critics accusing bottled water plastics adding too much bulk to landfills, and a large quantity of energy is being used to transport them. Since Jeffery is a CEO of a water company, the position he takes on this debate is very clear that he is not for a ban on bottled water.
They also struggle with the ability to agree to take ethical responsibilities of on-site catastrophes, leaks, spills and misfortunes. ( Buzzle n.d.) The pharmaceutical companies struggle with the situation of whether or not to make merchandise recalls if certain harmful information about them comes to surface, these are ethical issues that all organizations must be prepared for. What lesson could the management in the simulation (case #1) learn and apply to their business strategy from cases #2 and #3? It seems as though the organizations involved in case one could learn to apply international law,
It is said that the “lack of security is the biggest threat to consumer privacy from external sources. Selling consumer data without the customer knowledge or permission is the major internal threat to consumer privacy” Marchany, R., & Tront, J. (2002). The concluding evidence of implementing a Frequent Shopper Program for Kudler Fine Foods demonstrates a few concerns to consider, the legal, ethical and information security issues. First, consider whether or not the data collected will pose legal ramifications for Kudler.
With Cad Mex Pharma’s; as with any global business there are always ethical dilemmas. As far as the viral spread; the average thoughts of a person is to help stop an epidemic. However; as a business person the bottom line and the legal side has to be looked at. After all if the company responsible for the vaccine or cure is not in business there will be no one saved. This is where knowing the laws and choosing the best business decisions comes into play.
Legal and regulatory forces are laws that protect consumers and competition and government regulations that affect marketing. With legal and regulatory forces in place, they heavily affect global markets since they do not have a set structure of a central law system. Because of this, there may be hundreds of different laws and regulations in place that could partially prevent companies from expanding globally. Important legal questions related to antitrust rules, labor relations, patents, copyrights, trade practices, taxes, product liability, child labor, prison labor, and other issues are written and interpreted differently country by country. Businesses are required to follow U.S. laws and regulations when conducting any type of business around the world.
The guidelines and provisions set within the Ford Motor Company’s agreement with the UAW would bind them legally to fulfilling their obligations. The impact the economy would have on the Ford Motor Company was significant labeling the company, the weakest of the three automakers with affiliation to the UAW (Lucas & Furdek, 2010). During this timeframe, the Ford Motor Company would undergo changes which would present obstacles in regards to legality. In terms of downsizing to cut cost, the company would consider laying workers off and employment termination. However, these lay-offs and terminations would need to be upheld with evidence that would support and justify letting an employee go or the Ford Motor Company could potentially experience
When unethical decisions are made, everyone involved in the corporation and its well being are affected in a negative way and will jeopardize the well being of the business. “Ethical responsibilities of an organization’s management are to follow the generally held beliefs about behavior in society” (Wheelen and Hunger, pg 58). An ethical role within the corporation is not mandatory, however it is practiced in most businesses would be giving employees notices of
Dillard’s can’t afford any negative publicity regarding such issues. Dillard’s has to be aware of the potential devastation of laws suite involving discrimination of any type. There should be a training program set up for employees in order to educate and avoid potential litigation. Foreign trade can be a very risky business. Among all the risks involved with international trade, the political ones are more difficult to measure.
Unintended effects/consequences of the policy (if not yet in effect,, what might they be)? An obvious unintended effect of regulating mental health parity could result in an employers’ option to stop providing health insurance to their employees altogether if they believe the additional two to three percent premium cost is too high. “One destructive consequence of the competitive approach (in a market based economy) tends to be that deprived groups perceive each other as threats to their respective, narrowly defined, interests, and do not realize that the real threat to their joint interests is the principle of inequity which pervades the entire structure and the fabric of society” (Gil, 1990. pp. 189). Another unintended consequence of this mental health parity bill could be blatant discriminatory hiring and firing practices of people with known mental health