Kay Lay was the CEO for many years. The number one mistake he made was to hire Jeffrey Skilling. Although he was brilliant at his field, Skilling was unqualified for the job. Ken Lay also let everything slip through. I do not consider him being the master mind of all the dishonest moves but he hired the people to do it for him.
QBT Task 4 – Final Version 2 Robb Farrell Western Governors University Student ID# 000242903 THE REAL BOTTOM-LINE OF TODAY’S BUSINESS Research reveals that companies that focus on adhering to ethical standards and investing in socially responsible practices to the benefit of all stakeholders have a significant business advantage it today’s market place. Socially and ethically conscious originations have compelling business results in related to employee loyalty, company profits and consumer affinity. There was a time in our capitalist society that an organization’s number one priority and predominant focus was profits and shareholder interest. Indeed things have and are changing. In today’s market climate, companies have had to increase their consciousness as to what really matters.
Organizing and directing is thinking of ideas and putting into effect. The established plans will help run the company in a better financial future. The managers have to decide help to organize the information and direct employee to follow the right concept to better the company. Last elements is the decision making is the deciding which choice is right and see if there are any alternatives for the company financial
Social Responsibility and Company Q Social Responsibility and Company Q Western Governors University Company Q believes that their responsibility is to the financial health of the company more so than any social responsibility to the communities in which they have stores. According to the textbook Business Ethics 2009 Update: Ethical Decision Making and Cases social responsibility is “defined as an organization's obligation to maximize its positive impact on stakeholders and to minimize its negative impact.” (Ferrell, 2013 p.38). By closing those two stores Company Q is showing their corporate focus on profit and not how important those two stores may have been to the communities in which they were located. The leadership of Company Q is so focused on revenue and its loss that they are overlooking how the positive impact of social responsibility could help them and their revenues.
Concern for survival/growth/profits; this is specifically addressed, Whole Foods understands that in order to grow they must have a profit. As they stated the profit is their savings and a savings is what is needed in order to meet future needs. This is their “seed money” for future expansion. 6. Philosophy; is specifically addressed, Whole Foods core values are deeply embedded within the system which prevents them from becoming situation or person dependent.
The vast majority of companies that move in the direction to achieve sustainability also have enhanced profitability. Sustainability offers a firm new ways to protect their business from environmental, financial, and social risks, to run a company with greater efficiency and productivity, and to grow a company through the development of new products and services and the opening of new markets (Savitz, 2006). A firm can protect their business operations by conducting a thorough analysis of assessing the baseline. A company needs a clear understanding of where it is before figuring out where it needs to go. The thorough analysis of the firm’s environment will help identify risks that may be harmful to the employees, customers, and communities, as well as management failures early.
Organizing is the foundation for thriving businesses. For any potential successful business, competition provides employers with the necessary tools to become a better business to better serve its customers. The members pay top dollar to be apart of our business. So, our costumer service is what determines the perseverance of our business. Therefore, a big part of business is accepting all people who are willing to pay for our services.
In my opinion by doing this TRU adapts very well to changes within their own system. Secondly the company has a very strong relationship with all of their employees. This contributes to the reduction of customer complaints and helps maintain a good image. TRU is also capable of handling regulatory issues and adapt strategy into their national stores. These are several of the reasons why this company has the ability to adapt to any situation.
Most politicians and people look up to Theodore Roosevelt, and see him as a positive role model and a man who changed America for the better. All of the actions and decisions were made in a time period where things were much different than they are today. During this time the domestic economy mainly consisted of super corporations called trusts. These trusts controlled any raw material , food, metals sugar, and tobacco, etc by holding a monopoly, almost like “a huge Microsoft in every field” . On top of this, vertical integration put all the money and power into the hands of a few people that controlled whole industries and there was no attempt to regulate or try to monitor the system (Vries, 03 25 2003).
It establishes a fundamental systems and processes for presenting and detecting misconduct, for investigating and disciplining, and for recovery and continuous improvement (Ferrell, Fraedrich, & Ferrell, 2011). The corporate governance did not protect the stakeholders because there was embezzlements from some employees and greed from the executive leadership. There was a lot of turnover at the executive level which made the organization weaken and may not able to carry out its mission. Not having this process in place to detect when there was some unethical acts being taking place has caused a lot of turmoil for this no-profit agency. There was not process in place to follow for recovery for when a mistake was discovered or a problem was reported.