The stress of the audit partner is tremendous and choosing that profession is one that I would prefer not to undertake. The anxiety and pressure to certify that a company’s financial records are in good standing can be daunting. 3.) Independent auditors are sometimes perceived as the “necessary evil” by corporate executives because of the possibility of exposing corruption. To change this point of view an auditor can try to explain their intent to educate and improve the company’s policies, which can in turn lower costs.
Minit-Lube Case Study Patricia Zavalza Benedictine University MBA 630: Operations Management January 17, 2013 State any business problem that the enterprise needs to resolve. The business problem Minit-Lube currently has is that they are not achieving competitive advantage, in a competitive market. The idea is to charge no more and less than their competitors without sacrificing differentiation and responsiveness to those they serve. Briefly summarize relevant background information from the case. Minit-Lube stations are service providers that perform oil changes, lubrication, and interior cleaning for their customers.
Robbin Industries is jeopardizing itself by not properly reporting the advertising costs. As an operating company, they must understand the generally accepted accounting principles and adhere to them (Weygandt, Kieso, & Kimmel, 2010). (c) What would you do if you were Wayne Terrago? Wayne Terrago should try to report the financial condition and results of operations fairly and in accordance with the generally accepted accounting principles. As controller, Wayne should inform management and understand what is acceptable according to the GAAP.
The main purpose of this article is to discuss the Caux Round Table (CRT) Principles for Responsible Business which has described moral standards for suitable behavior in the workplace. Breaks in company honesty, whether among a small amount or a lot of individuals, compromise the beliefs of workers and for this reason the ability of an organization to provide people’s needs. The main idea of the article is to determine a universal code of ethics in the CRT and talk about the standards for behavior in the workplace. The most important information in this article is the principles themselves and the similarities and/or differences to Jerry White’s Biblical guidelines. The first principle of CRT is to respect stakeholder beyond shareholders
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.
I recommend the company should respond to the former employee’s charge of constructive discharge by first apologizing. This former employee has had a negative impact on their life do to our company, and an apology would not hurt the situation. The government has various laws and statues pertaining to constructive discharge, management needs to avoid anything that could be misconstrued as discrimination in the work place. Alternative Dispute Resolution (ADR) refers to processes and techniques of resolving disputes that fall outside of the judicial process (Alernative Dispute Resolution Law & Legal Definintion, 2011). Legally, this could save the company bad publicity, a great amount of stress, and money that isn’t necessary to spend.
Ethical considerations must be given by managers as to how the strategic plan will influence the stakeholders. The business organization’s management follows the mainstream behaviors of the society to justify their decisions on choosing their role as being ethically and socially responsible business. Many businesses in a depressed economy have to lay off their employees and close plants, these decisions are difficult to carry out because socially, it will cause hardships for employees or the community. A good example of being ethical and socially responsible business when encountering this situation is when Cisco Systems decided to lay off 6,000 full-time employees, that it acted ethically in providing a unique severance package where these employees it who agreed to work for a local nonprofit organization for a year would receive one-third of their salaries plus benefits and stock options and be the first to be rehired (Wheelen & Hunger, 2010). When investors or shareholders are demanding the business to produce profit, managers must consider how to devise steps for transparency in their strategic plans to report factual business dealings.
Question 1 Carefully review the Assignment scenario/case study. From the limited information in the scenario/case study, identify at least three direct and specific long-term and three direct and specific short term operations changes that Albatross Anchor must make to gain a clear and sustainable competitive advantage (provide detailed information to validate and support each recommended change). Long-Term Operational Changes (01) Being in compliance and staying in compliance to U.S. safety and environmental standards goes both ways long term and short term goal wise. It’s not good for business if workers are injured or in jeopardy of being injured because of negligence on the plants part or due to faulty equipment or even the work environment itself. If OSHA does an inspection and, let’s look at worst case scenarios here, you are forced to shut down to get in compliance, you will lose money and time while this is being done.
• What appears to be my issue (concern, problem, challenge or opportunity) and its significance for the organization Safety of the Cable Company’s employee’s. While on the job, Gordon noticed several opportunities for the Cable Company to improve its safety practices. • Why has my issue arisen and why am I involved now? This issue seems to be the result of a lack of commitment or resources by management despite the efforts of Gordon to draw attention to the issue of employee safety. • When do I have to decide, resolve, act or dispose of this issue?
Disposal techniques such as burning and using dumpsites only push the environment further down the drain (Logomasini, 1); since such waste disposal methods bring about environmental concerns as well. Governments have recycling directives in place but companies and individuals are still having the liberty to recycle the waste on their own, and this is where the government directives get overlooked. Disposing biodegradable waste is not as challenging as other waste that naturally decomposes leaving organic benefits to the environment. That being the case, therefore, it means that non-biodegradable waste poses a massive challenge to conservation efforts making it essential to come up with an effective and comprehensive recycling mechanism. This exploratory argumentative paper will delve deep into the case of why recycling the non0biodegradeable waste should be made mandatory by the government for all private individuals and corporate entities to comply with.