If the income of the business is more than the expenses then the company has made money and vice versa. The figures covered in the income statement are important to its managers and owners, but also to their investors and creditors’.
This practice keeps these businesses in the oligopoly market structure. They must take into account the expected reaction of the other companies. Oligopoly market structure has no definitive plan in place; it is based on strategic planning. This means the company is ready to react to what a competitor may do. Target could have very well been in the monopolistic competition structure but did meet some of the structure points.
Internal Controls It is necessary for companies to have internal controls that want to be able to succeed in the marketplace and for them to avoid possible pitfalls that can be the demise of company. Internal controls are set in place not only to protect the consumers but they are also for there to help companies succeed and reaching goals and what they are setting forth as objectives in an effective and efficient manner. Each of the specific objectives is measured by the recorded transactions that are relevant to that objective. The main goal of internal control is safeguarding assets. It has two sub goals which are safeguarding from employee thefts and safeguarding from unauthorized use.
Therefore, maximizing profit without causing destruction to the business culture can be a balancing act for most organizations. Businesses have an obligation to establish and maintain an impartial balance between money and company ethics. This can be a challenging situation for business people to make decisions on the pros and cons of
This is because each people’s needs are different, and the business leaders have to be attentive and elastic enough to work with each people effectively. The decentralized of a company has competitive advantages
The inability to look past the right choice to the most beneficial one, the obligation to right versus wrong, and the idea of equality in the workplace may result in problems in the workplace for a person who holds these values within the obligation category. With this said, it is certainly valuable to know the individual ethical style and perspective held when entering a business atmosphere. This would allow for easier transition of ethical dilemmas into issues that can be accepted by everyone involved. This, in turn, would provide a better atmosphere for the company, the employees, and ultimately the
When it comes to organizational culture affects the way workers respond and react when positioned in ethical problems Organization’s culture can disclose the unwritten ethical standards that guide workers in their decision-making. Some companies can prevent unsafe ethical behavior by changing their organizational culture. Organizational culture is the study of the attitudes, beliefs and psychology within an organization. It not only includes how workers act together, but also how they connect with others outside of the organization. Ethical standards are the code of conduct required by the organization for workers to follow.
Managers have the responsibility and power to make decisions and oversee companies. A leader will be able to think and act creatively in difficult situations. Leadership unlike management cannot be taught, but can be enhanced by mentoring or coaching. Hersey and Blanchard 1972, Situational leadership. Hersey and Blanchard believed that a person’s readiness was the situational characteristic that determined the combination of task and a person’s behavior.
Individuals have an obligation to make decisions that benefit everyone, without taking away from others. Thus, for example, my ethical decisions are based on following the rules of a company and doing what is right not what appears to be right. I believe policies are in place to foster growth in individuals and organizations and that should not be taken away in order for a person or organization to be successful or
The actual term financial market is defined as any business or market place where buyers and sellers come together for their trade of belongings and currencies. Marketplaces themselves have set pricing regulations and costs and fees that are entangled in with all of the rest. But when most think of a financial game they think of things like the stock exchange and other things like the Forex markets that constantly trade millions upon millions of