Week Two Learning Team Reflection During Week 1, we discussed the basic components of business research. We were shown how to recognize dilemmas and address issues related to corporate America, such as declining sales, increase in costs and any other issues that may have adverse impact on business. With that, business research becomes a problem solving tool in the decision making. However, ethics must first be weighed to ensure the social bottom line and productivity remains at its highest. Unethical behavior undermines positive gains.
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.
The “Five Forces” are external forces that a corporation needs to consider for its business strategy to compete with other in the real world. The “Five Forces” that shape the competition according to Mr. Porter are: 1) Threat of New Entrants, 2) Bargaining Power of Suppliers, 3) Bargaining Power of Buyers, 4) Threat of Substitute Products or Services, and 5) Rivalry Among Existing Competitors. In 2004, Robert Kaplan and David Norton published “Strategy Maps: Converting Intangible Assets into Tangible Outcomes”. Their strategy map provides a systematic way to analyze if the intangible assets are aligned with the critical internal processes. Intangible assets according to Kaplan et al.
In this assignment, I have explained how the hardware replacement costs relates to the hardware replacement project and the project management. They are connected by the project and the five major variables which are quality, costs, time, scope, and risk. I have covered some things that a business needs to view when they are deciding the most effective project for their company that can influence a project's risk level and find ways to reduce the risk. Also I covered ways to supervise a project and explain it to all that is
In the article he talked about five key points that help in cultivating an environment where learning occurs. He concludes by saying that there are many methods to build a learning organization but first the organization needs to build an environment that accepts wanting to learn. Bersin (2012) believes that if a company builds a culture which gives employees time to reflect, develop and share expertise, and learn from mistakes then they will be able to out-compete their competition in the face of huge market change. He finishes off by using Apple, IBM, and Google as an example of how building expertise and promoting organizational learning helps an
This response likely had the added effect of offending their employee base by suggesting that their employees would utilize the program to steal from the company. This offense has the significant potential for lowering employee engagement and retention. Clearly, Company Q is not educated in how ethical conduct and social responsibility by a company can actually boost its profits. Their current position only serves to perpetuate the long lived consumer mind-set that companies are inherently dishonest and only have eyes on profit. It is unrealistic to believe that Company Q can instantly jump from their current posture to one of deep and meaningful social responsibility and corporate ethics.
Another external threat includes economic slowdown. The economy can play a direct role in the success of an organization, and should be monitored accordingly. Another external threat is currency changes which can affect business and sales in other countries, another area that should be monitored closely. With limitless external opportunities in markets online CanGo has room to expand in multiple markets outside of online gaming, books, and the music industries. With online market growth the opportunities for CanGo are endless, a very important factor to consider in the company’s future growth.
Break Breaker Inc. to some extent obey with some legal rules, but failed to comply with principles of morality and community, contribute to the society by producing honest high quality services, and account the consequence of damaging their reputation. I think that Solomon’s argument is fairly accurate, but everyone’s views are different on this. Some actions may be acceptable to some but unacceptable to others. Ethics provides the bigger picture in the business life and it must be understood. In my opinion, nothing is more dangerous to a business than a bad public image caused by being unethical.
In business and or politics unethical behavior is illegal and when found out or when it comes out in the open they face serious penalties that usually lead to the downfall of the individual or company. In sports though sometimes it is clear that the actions are unethical many times there is a gray area that cant be distinguished if the actions are ethical or not. These
Its profit oriented objectives resulted unethical activities and $200,000 penalty. Consumers are making decisions based on the advertisements. The misleading/false advertising will lead the consumers to make wrong decisions. This action is also monopolistic behavior, which is unethical and limited by the competition act. The monopolistic behavior could affect the competition negatively and damage the smaller competitors.