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.
Employees and employers of different companies or organizations often shape the ethical behavior, and the unethical behavior of their various companies. This is why one aspect may be right to a certain company and yet totally wrong according to a different company. However, it is essential in noting that leaders as well as staff members should work in an environment that appreciates respect and equal opportunity. Reinforcement of ethical conduct in the workplace is the duty of employers and employees. Some individuals however, think that employers should have total responsibility of maintaining ethical deeds in the workplace.
ALL WK 1, DQ’s: WK 1, DQ 1: What is a business’s obligation to build an ethical culture and balance its desire for profit with ethical responsibilities to employees, customers, society, and the environment? Ethics is different from one person to the next, so it is imperative that business clearly define the norm for staff members and management. The decisions organizations make influence more than business partners, affiliates, culture, and others. It is important for organizations center of attention on maximizing shareholder revenue. Therefore, maximizing profit without causing destruction to the business culture can be a balancing act for most organizations.
In this scenario the pro’s outweigh the con’s and therefore it would be a great idea to form a corporation. Choosing the proper formation to conduct business is crucial for an organization. Whether one believes that personal liability, limited liability, or double taxation will increase their chances of surviving in the business world each organization has the ability to choose a specific formation. Formations of a business are unique, some benefit some organizations more than others and so forth. However, in most cases if circumstances
Within business ethics, an important factor is the relationship within a business – in all aspects. Whether it be the company itself, the employees, employers, shareholders, stakeholders, they all are influenced by one another and have a strong role dedicated to them within a business. Stakeholders are those that hold an interest in the company, but do not own it, and stockholders have actual shares within the company – they own a part of it. This can just be a small fraction that they share with many other people, or they can own a large fraction of a company. Scholars such as Friedman suggest that treating the economic responsibility as the most important responsibility of a business, is called a profit-maximising view, and “the social responsibility of a business is to increase its profits.” This kind of view states that a company should be operated on a profit-orientated basis, with its sole mission being to increase profits.
Unit 4 Assignment 1 Leon Taylor P1 - For this section I have chosen to use B&M Bargains as my selected business to talk about and display the forms of information that they use. Within B&M there are many formats of communication and types of information used in order to make sure that the business runs successfully. These types of communication are very important in maintaining the companies good image and replicating professionalism and quality with there partners and customers. Firstly within B&M one of the main types of communication that is used within B&M is verbal communication. This type of communication within B&M is probably the most important as it is the most common type of communication used and is vital in making sure that important business deals can be made and so customers and clients feel secure and can create an understanding with the company.
Globalization is the key to survival that allow to a company to be competitive and offer diverse services and convenience to consumers. Benchmarking analysis that compares competitive companies with their process and performance metrics to industry requires a comprehensive research. In a successful business, effective tactical development inevitability to manage finance is essential. Financial management is a comprehensive tool that monitors and willpower to improve a company’s success. When I was conducting the research for financial statements, there were many interesting.
Why are ethical behaviour and government regulations important to marketing? Ethical behaviour is used within many businesses to ensure the business provides accurate information to customers as well as other businesses to engage in fair competition. It is important for a business to have ethical behaviour in relation to the marketing side of the business so that goods produced, promoted then sold do not provide misleading information. If identified by consumers, it can have a major impact on all functions of the business as it has the potential to ruin the business’s reputation placing the business at a declining stage of the business’s life cycle. In a similar manner government regulations are also important and must be overviewed by all functions of a
Some are for profit and are in business to make money while others are non-profit and their primary focus is to meet a need. Almost all organizations have both vision and mission statements which are typically written by executive level managers. Leaders should set the tone for the culture of the organization as well. Organizational culture is “a shared set of beliefs and values within an organization” (Schermerhorn, Hunt, & Osborn, 2008, p. 11). There are two types of environments in an organization: internal and external.
With Citigroup’s organizational culture it has guided employees toward the behaviors and attitudes that have put the company at risk. The company must revert to what is important that is the customers and focus on the core values of the organizations, and the vision of the organization. To change Citigroup’s organizational culture there needs to be a shared responsibility among the leaders of the company, managers, and employees. By having a shared responsibility will make Citigroup’s organizational culture more effective and productive. Having shared responsibility will allow each employee to achieve or accomplish his or her full potential, and acting with the greatest level integrity when dealing with one another, and customers.