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.
To aid in the risk assessment process, SterlingCrest will utilize a variety of tools to assess several types of risk with a department and prevent losses from occurring. The risk assessment tools will include questionnaires, location inspections, and employee interviews. In addition, the risk assessment will include a thorough review of the company’s processes, policies, procedure, regulatory compliance, along with historical loss for corporate departments and stores. Once the assessments are complete, efforts can be made to address potential
This is when an auditor does an actual review of the processes and the security of these processes and makes “professional recommendations” on the implementation of systems, the security of the systems and software, and even recommendations on better implementation of the database management. SAS 70 is important for all processes, electronic and manual, that may be outsourced to third party companies or may be maintained by third party software. This report provides the company as well as the third parties with a report that provides information on the internal controls that are in place and their effectiveness within both businesses. This allows the organizations to determine whether or not they need to make changes to their processes to ensure the security of the data that is being shared between parties (Hunton, 2004, p. 217). Finally, SAS 94 addresses the need for the auditor, and its firm, to fully understand the programming and technology that is being used for any given company.
They are the key things that you have to have in order before you can go public. Based on the information that was given to me and looking at the interworking of your organization, there are something’s that I feel you have established that are good for the organization of the company. One of the key internal controls is the control of the environment. The fact that you fired the employee that was watching pornography on company time and devices. This is very important because it sets a tone that there are rules in place and no exceptions will be tolerated.
Business research process RES / 351 Business research process Business research and the process of understanding the manager’s problem and its management dilemma. In business the managers first has to identify the problem his problem or dilemma, then the need to find solutions to fix or adapt these solutions so that the same problems won’t reoccur. A management dilemma triggers the need for the decision making process to began, these events cause managers to reconsider their purposes or objectives it also defines the problem for solution the manager then can develop strategies and tactics for the solutions they have identified. Research means it is conducted to reveal answers to specific questions related to action, performance, or
The main purpose of this article is to discuss the Caux Round Table (CRT) Principles for Responsible Business which has described moral standards for suitable behavior in the workplace. Breaks in company honesty, whether among a small amount or a lot of individuals, compromise the beliefs of workers and for this reason the ability of an organization to provide people’s needs. The main idea of the article is to determine a universal code of ethics in the CRT and talk about the standards for behavior in the workplace. The most important information in this article is the principles themselves and the similarities and/or differences to Jerry White’s Biblical guidelines. The first principle of CRT is to respect stakeholder beyond shareholders
Does working in teams make people less receptive to outside input? How can social comparisons undermine trust in working relationships? How do the training and technical knowledge entrepreneurs take from previous employers impact the success of their new ventures? Wharton professor Jennifer Mueller and lecturer Julia Minson, and professors Maurice Schweitzer and Evan Rawley, respectively, examine these issues, and what they mean for business, in recent research papers. Confidence's Cost to Collaboration The corporate formula for innovation often focuses on creating a team of experts to cook up the next big thing.
Minimum wages was one of the topics discussed that had many influences toward product pricing of businesses. It is important to understand these concepts and understand the political decisions that may influence the strengths of companies whether they are massive or small. Understanding the negative impacts and comparisons between companies can also help individuals understand the weaknesses that may cause failure to the growth and structure. Some of the factors given in the material for this week have proven severe consequences to past businesses. These factors are very “eye-opening” when discussing the factors that could cause businesses to be put out of business or lose substantial returns on the
Business Research Justin Dowdy, Whitney White, Varonika Allen, Charles Larpenter October 7, 2012 University Of Phoenix Business Research 351 Debra Bacon The following essay will attempt to define the role of research in a business setting. As a group, team “C” has found that research is imperative to any organization that wishes to provide solutions based on business intelligence and accurate findings. Business Research is essential to developing strategic plans to accomplish corporate goals. Additionally, business research helps managers to determine the best course of action in their decision making process or in developing a production process. Research may be either Applied or Scientific.
Millan (2012) points out many business failures are a direct result of utilizing the same mindset for problem solving that was used to create the problem. In order for problem resolution to occur, the underlying issue must be exposed, accountability procured, and new measures instituted to correct the situation. Failure to accept accountability ultimately leads to failure in problem resolution (Millan, 2012). The next method for embodying emotional intelligence is to alter the workplace mindset (Millan, 2012). The author asserts changing the mindset is important because businesses often operate under the guise of fear; meaning the fear of losing a job, fear of not meeting a deadline, or fear of delivering substandard work.