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.
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. This approach would seem to benefit stockholders, as well as stakeholders, as the stockholder is going to benefit from the profit made by the company and will gain something back from the company, however problems can occur when the businesses and companies do not balance their ethical responsibility, as they can therefore be perceived as greed and unable to balance their corporate social responsibility, and will cause a bad name for a business. So although the stockholder may also be gaining profit by doing this (what the company sees as doing the right thing) is not necessarily the right thing to do in terms of stakeholders. However, Friedman would argue that as long as the business is maximising its profit, that is the main point and so the loss of the stakeholders is less important. This argument can be deemed as weak as Friedman’s approach does not mean that stakeholders can be benefited alongside stockholders, and so disagrees with
Brainstorming and group problem solving will help a business succeed. Teamwork also brings into play diversity, working in teams is being able to communicate and work with others of different backgrounds. Another business trend that is big in the workplace is ethical concerns. Treating employees fairly, showing concern of the environment, treating the community with respect and telling the truth are all ethical concerns that play a big part in business trends and are probably one of the most important
Corporate culture is displayed in the way a company conducts business and how employees, customers, and the community are treated. A company’s culture is also shown through the level of freedom that is allowed in decision making, personal expression, and in developing innovative ideas. Another aspect of corporate culture includes how information flows through the company’s hierarchy and how committed the employees are toward the corporate objectives (Gupta, 2009). The competing values framework (CVF) is the most widely used approach for classifying corporate
EST1 Task 310.2.1-05: Ethical Situations in Business Western Governors University February 2, 2013 EST1 Task 310.2.1-05: Ethical Situations in Business Companies have four levels of social responsibility: 1) economic, 2) legal, 3) ethical, and 4) philanthropic. A company has to balance its duty to shareholders to make a profit with its contract with society to make socially responsible decisions. In order to increase profit, a company must understand the needs of the stakeholders and develop a coordinated plan which establishes standards within the company that can be understood and accepted by all employees; as well as supporting the needs of the community it serves. Company Q has supported the need to improve profit by closing two unprofitable stores. However, an analysis should be made regarding the need to close those stores.
Global sourcing involves proactively integrating and coordinating common items and materials, processes, designs, technologies, and suppliers across worldwide purchasing, engineering, and operating locations. While integrated global sourcing has yet to receive the attention it deserves from executive leadership or the academic community, this topic will receive increased scrutiny as organizations search for new ways to compete. Strategy in a business organization is essentially about how the organization seeks to Survive and prosper within its environment over the long-term. The decisions
This culture creates acceptable and predictable behaviors to better guide associates through their daily job functions. The corporate cultures serve an organization by enabling the organization to be flexible and adapt to the ever-changing competitive landscape (Leban & Romuald, 2008). Home Depot’s leader Robert Nardelli, determined that Home Depot was in need of a culture change. He wanted to change the organizational culture from a laid back, interconnecting organization, to a tough-minded approach to develop power, growth and volume. The Nadler congruence model would be the best option for this type of cultural change.
Unit 1 Individual Project 1 Anthony L Mitchell June 8, 2012 AIU Online AIU Online Abstract This paper will discuss the differences and similarities of business proposals and formal research. This paper will include the theoretical and physical properties of each and how they operate in the world of business. In today’s business world formal research and business proposals are important elements that help to create success for anyone looking to prosper in business. There are some differences and similarities when comparing business proposals and formal research for each has its own use and application in the world of business. To help better understand these similarities and differences one must first understand the terms of formal research
Leadership in Business Bert Lawson MGT/521 Management 1/20/2014 Les Colegrove Leadership in Business Leadership in business is a must for a business to flourish in today’s economy. Companies need to keep up with the changing times to keep their product marketable, to do this leadership has to find new ways and find ways to keep their ear to the ground to ensure their product is meeting consumer needs. This paper will discuss the role of managers in a leadership role. When you think of a manager most would think of someone who is keeping the day to day operations moving and that is true but a manager is so much more. When you break down what a manager means to a business.
Human Resource Management Aquanetta Littles HCS/341 September 5, 2013 Michael Taylor INTRODUCTION Human resource management (HRM/HR) is the complex art and science of governing the organization’s employees through a structured strategic approach. It encompasses managing the cooperative behavior and relationship between personnel and company. The department runs the administrative processes of an office, business, governmental organization, or institution. Originally, HR was division within the finance department, concerned with pay and benefits, however, as the function evolved companies realized its’ important to the organization. People are a business most valuable asset and keeping them satisfied, motivated, developed and retained is necessary if a company is to remain profitable (humanresources.about.com, n.d.).