Competency 310.2.1 Ethical Issues In Business EVALUATION From the information given, it seems that company Q has a negative attitude towards social responsibility. Company Q has begun to listen to the needs of its customers, and is attempting to address those needs by supplying the desired products. However, it seems that company Q is selective in which customer’s needs it will address. By closing two stores in high crime rate, or in other words, lower income areas, they have sent the message that they appeal only to a more affluent crowd. Also, company Q’s only concession to changing policies is to begin carrying high margin, or high cost, products at all of its stores.
Recommendations • The president claimed that autoparts.com was a customer-centric web business; therefore, customer satisfaction should be considered by this company as an important goal and an effective marketing tool. Internet technology enables the customers to quickly spread both good and bad word of mouth to the rest of the world; just like how Mr. Smith stated, low level of customer satisfaction would “single-handedly be the downfall of this company”, not the “wrong pricing strategy”. If Mr. Veblen still wanted save his company, he must realize this truth and act fast to systematically measure how well autoparts.com treat customers; to identify the factors shaping satisfaction; and to change operations and marketing as a result. • The company should measure customer satisfaction regularly. One of widely used measurement techniques is well designed periodic surveys which can track customer satisfaction directly and ask additional questions to measure repurchase intention and the respondent’s likelihood or willingness to recommend the company and brand to others.
With these in place, Verizon covers many areas where unethical situations could arise. I believe that they do have a strong group who oversees these areas to avoid unethical practices. Verizon’s delegation of authority helps to eliminate conflicts of interest by having internal and outside audits done to avoid this type of situation. The chief information officer watches to ensure correct choices are made in purchasing IT equipment. They would make sure the best choice for the company is made and not what might benefit some members of upper management.
TO: Business Manager FROM: IT Consultant I can understand how you concerned with your company’s security after all information on competitors can be invaluable or very harmful to a company and this is why it must be protected from prying eyes. This does not have to mean that you have to lose production over trying to secure your networks information. An easy measure like user names and passwords can be used to protect less sensitive information but how strong you make those usernames and passwords can have a significant effect on how well your information is protected. I will give you some tips on how to better secure your network with the tools that you already have at hand, keep in mind that you can also buy better security items to better protect you network things like; smart card, finger print scanners, retinal scanners, etc. but I only recommend these for really sensitive information and only for certain users in your company.
b. Proper Documentation All transactions should be recorded and documented fully along with all supplemental documents. Any changes to business structure or processes should also be documented and explained. c. Policy Enforcement (Culture) Organizational culture is extremely important to a non-for-profit since they do not have written business policies. A culture with strong ethical standards and code of conduct stemming from top management is key to preventing fraud; it is also cost-efficient to implement as a control.
He is also concerned that it is a misuse of company property. 3. Bill states that the number one priority is to make sure production does not suffer because of these personal issues. He believes that a harassment suit can be easily avoided, and that by separating the two employees, he can minimize damage to morale. 4.
[pic] Principles for Responsible Business INTRODUCTION The Caux Round Table (CRT) Principles for Responsible Business set forth ethical norms for acceptable businesses behaviour. Trust and confidence sustain free markets and ethical business practices provide the basis for such trust and confidence. But lapses in business integrity, whether among the few or the many, compromise such trust and hence the ability of business to serve humanity’s needs. Events like the 2009 global financial crisis have highlighted the necessity of sound ethical practices across the business world. Such failures of governance and ethics cannot be tolerated as they seriously tarnish the positive contributions of responsible business to higher standards of living and the empowerment of individuals around the world.
The last function is providing procedural protections for the United State citizens from wrongful government actions. This last function is very important for our society and for businesses because if an individual or a business does find themselves in trouble it allows them to be treated fairly and have the right for a fair trial (Melvin, p. 4, 2011). The role that our laws play in our lives, whether it is in our businesses or personal lives, creates structure. Not only does it help people and businesses, but it also helps our country keep the crime rate low. If our country didn’t have any laws and structure, our world would be a complete disaster.
They got too close to Minkow and became too dependent on his business. As a result, they allowed themselves to become easy targets for Minkow’s manipulation. The lesson from this case is that auditors must remain objective and independent from audit clients. In addition, auditors must apply professional skepticism throughout an audit engagement. It should be noted that there might be cases where fraud is extremely difficult to detect.
After listening to him his decision got bias. But in my opinion an employee should immediately report and error when it is discovered. All employees, especially employees who are burdened with the task of making projections which may impact the future of the company must act with integrity. Small-business investors and leaders consistently rely on the ethical collection and delivery of financial information. “According to Mintz, “Integrity is a fundamental trait of character that enables a CPA to withstand client and competitive pressures that might otherwise lead to the subordination of judgment.” The priority must be based on the professional responsibilities first rather than looking at the personal interest first.