Ethical standards are the code of conduct required by the organization for workers to follow. The relationship between organizational culture and ethics is that the organizational culture guides workers when faced with ethical problems. If the organization culture counters what they are required to do ethically, workers may put the organization in jeopardy by not act ethically. When a worker is faced with a decision that others within the organization think as appropriate, though it is unethical, the worker may follow what is acceptable as per the culture. It is the relationship between organizational culture and ethics that can get businesses into significant trouble in the long term.
Learning objective | Place in Assessment | 1.1 Explain reasons for change in a business environment | Question 1 Page 1 | 1. Explain why change happens in a business environment. You should include at least three reasons in your answer. [1.1] Change happens in a number of different ways either reactively or proactively or internally or externally. Reactive change occurs due to outside pressures on the business these may include a perceived threat to the company or a new opportunity arises out of the blue.
Identify the main reasons for reviewing working methods, products and / or services in a business environment. The main reason why a business should review working methods, products and / or services are to ensure that they are keeping in line with other businesses. An example of not keeping up with the times is HMV. Change can cause added pressures to the business. However there are changes that would have a small affect on the business.
The members of the Audit team, the audit manager Pete and two audit staffers Ben and Maureen have to understand the client’s business and industry. 2. Assess client business risk. Business risk is the risk that Smackey will be unsuccessful in achieving its objectives. In this activity, the audit team assesses the risk of material misstatements arising from Smackey’s business risk.
Research competitors and industry trends to create new ideas and incentives. Compete with competitors – Price matching. With accurate information and efficient communication within the business will ensure business continuance despite possible problems. 4.0 Reports: Identify the types of reports you would be required to review regularly in order to monitor business performance, why is it important to create and use this report and who would the report be written for. 4.1: Performance Report: This report shows how well/poorly a business is doing based on a current revenue, and can identify performance areas that may need improvement.
Opportunity: An opportunity is a favorable condition in the organizations environment which enables it to strengthen its position. Threat: A threat is an unfavorable condition in the organizations environment which causes a risk for, or damage to, the organizations position (Tim, B. 2011). Its central purpose is to identify the strategies that will create a firms specific business model that will best align, fit, or match a company's resources and capabilities to the demands of the environment in which it operates. Strategic managers compare and contrast the various alternative
In supply chain management, strategic capacity planning controls the demand of new opportunities at minimal cost (Chase, Jacobs, and Aquilano, 2006). Strategic capacity planning is essential in establishing the permanent capacity capability a business needs to maintain or improve its market share. Poorly planned capacity needs can help the competition, costing the business customers (Chase, Jacobs, and Aquilano, 2006). Performing a break-even analysis would assist Riordan in calculating the proper capacity needs of their
SWOT Analysis Complete the following SWOT analysis for your company: Strengths * Describe your company’s internal resources and capabilities that can be used to establish a competitive advantage and reach your objectives Weaknesses * List the factors that may interfere with the company’s ability to achieve its objectives Opportunities * In looking at the external environmental, identify opportunities of buyer need or potential interest which may indicate opportunities for growth and profit Threats * Look at changes in the external environment that may pose a challenge or lead to lower sales or profits Corporate Social Responsibility What steps will your company take to make sure it is acting responsibly towards the community, employees, customers and the planet? Marketing Overview – Part 3 Marketing mix (the 4 P’s) decisions identify the product/service offerings, pricing strategy, distribution (place) strategy and promotional activities that will achieve the business goals. Create a marketing mix that will achieve your business goals and create a competitive advantage. Target
SWOT Analysis BUS/210 Foundations of Business A SWOT analysis is similar to an incident action plan that can be used to asses the strengths, weaknesses, opportunities, and threats that may impact my business. It involves me identifying the goals that I have set for the business along with factors that are external and internal. These factors can have direct impacts to the business; the impacts can have a negative and positive effect. I identifying the strength, weaknesses, opportunities and threats can put me at an advantage to modify a course of action. The sample business plan that I selected is the Personal Event Planning business plan.
Business research process RES / 351 Business research process Business research and the process of understanding the manager’s problem and its management dilemma. In business the managers first has to identify the problem his problem or dilemma, then the need to find solutions to fix or adapt these solutions so that the same problems won’t reoccur. A management dilemma triggers the need for the decision making process to began, these events cause managers to reconsider their purposes or objectives it also defines the problem for solution the manager then can develop strategies and tactics for the solutions they have identified. Research means it is conducted to reveal answers to specific questions related to action, performance, or