Credit crunch and recession are great examples of external factors influencing the business. If the people are suffering from recession, they will not have money to spend money and this is how it affects the businesses. The current instability in Iraq is a good example of what may happen to businesses. In business it’s very important to understand, monitor and adapt to the political environment, because it crucially affects every business. Some of the very important factors are: Government stability effects businesses in a great range by competing with businesses to lower their costs, transparency is another important factor where anything the business does is revealed to the government and the government know exactly what they are up to.
Very importantly, workers should be better protected from employer intimidation when attempting to organize unions. Businesses need to take employees seriously and understand that although it will cost more to pay a union income, it benefits the employees’ welfare and may improve their individual performance. Mass transit should also be improved. It will help economically and environmentally. And finally, employment insurance should be extended as well.
240). Using this strategy of promotion could cause more exposure for KFF and help them become more globalized. If the company carries and sells the products the right way, the consumers will think “this company means business, let’s show our appreciation”. To make any company grow individuals need to promote it in the right way because promoting a company the wrong way could cost the business
Although the Sarbanes-Oxley Act was passed by Congress for positive reasons, there are many disadvantages that come along with it. A major issue is the cost of regulation, especially for smaller companies. Expanding internal controls delay the timeliness of financial statements by adding processing time to accounting functions. To follow the SOX, companies would need to separate duties, causing an increase in personnel. The SOX also calls for additional audits which increase business costs.
Their interest is to see the profit they make increasing and the value that the business has rising. Like other stakeholders they want to business to have a good reputation and to grow. Pressure groups the business on making decisions which help defend the environment e.g. Green peace and friends of the world. Environment concerns are important for pressure groups so they try brought onto the business and also protest against the businesses.
Ethics Paper MGT498 Ethics Paper One of the biggest things that big named organizations sometimes tend to forget is that when difficult decisions must be made, they affect everyone within that organization. Whether it be budget cuts leading to loss of hours or layoffs, lower stocks percentages for the shareholders or it can even change things positively, and require more production of hiring. Either way, when issues come up and things change, it is important to keep everyone involved well informed and made in the best interest of those directly affected. In the business world, corporations have a responsibility to the employees as well as the stakeholders to be ethical in their decision making by staying true to their beliefs and behavior to society. When unethical decisions are made, everyone involved in the corporation and its well being are affected in a negative way and will jeopardize the well being of the business.
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 short run profit maximization will increase however in long run it is harder to increase companies profit because they will need perfect information in order to prevent the risk of the market. According to reality in most of times big companies work for society, to get a brand image and name lowering prices, use child labor and pesticides in order to create lower cost and therefore increase their profit. Sometimes companies make polices in order to get subsides as low carbon emission. As a result more consumers are demanding these products. In the short run firms may not increase their profits because the cuts in prices but if they achieve this in long run they may experience maxim profits.
Krystal Brea ISS1120 11:15 Inequality Recently America is economically becoming more unequal and a lot of people aren’t happy about it. Many people believe that inequality is necessary in order to reward success, hard work and entrepreneurship but consider that is has been taken to the extreme. Some are blaming tax policies for being unfair and believe today’s inequality has been taken to such an extent that it has become a sign of the government abandoning the idea of equal opportunities. With these things in mind, I would have to say that inequality is necessary to a certain extent. We cannot all be equal; as this will stop economy growth.
This way is called green marketing which is developing and promoting environmentally sound products and practices to gain a competitive edge (Introduction to Business. Page 270.) And the last tool I would use is sustainable development. That is to doing business to meet the needs of the current generation, without harming the ability of future generations to meet their needs (Introduction to Business page 269.) Now that takes a lot of research to know that the people and community wants.