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.
Disaster Recovery Plan Name IT/244 Intro to IT Security Date Disaster Recovery Plan A disaster recovery plan is one of the necessary aspects for the business to be successful. A Disaster Recovery plan prepares the procedures, people, steps, places, and equipment for restoring computer systems necessary to restore damaged or destroyed computer systems, as well as the secondary infrastructure to retrieve business data after a disaster. 1 Risk Assessment 1 Critical business processes In order to remain in the competitive, these days companies would need to have their own IT system that would make the business processes a better experience. However, this makes people highly dependent on technology, also a need to have disaster recovery plans. It is most important for those that have operations that are offshore, incase the business decides to change their location.
The functional areas of business are the different aspects of business that make up a company. With that said, since managers fall under an organization or business, it is imperative that they work together with the different functional areas of business. Managers must be keen on knowing every aspect of business law and how it pertains to their company and/or organization. This is important because a manager needs to understand what rights the company has, what kind of relations the company is allowed, and what kind of conduct is appropriate for the business and it’s employees. By violating any type of law a business could easily lose revenue and in major cases shut down forever.
Inadequate Organizational Structure, Symptoms and Effects Leah Peters Grand Canyon University MGT-605 Leadership and Organizations 8/22/2012 Inadequate Organizational Structure And Effects The organizational structure of a business is its foundation and is used to facilitate communication and efficient work processes. When problems arise within an organization, there are systems in place to identify and address them before they cause disruption in the workplace. If an organizational structure is not optimized or equipped to address these problems at appropriate levels, one must often travel through multiple layers of management before a decision may be rendered. These organizational structures may need to be reviewed and adjusted or changed. According to Hax, the external and internal changes call for a continuous adjustment of the organizational structure, in order to insure an optimum handling of strategic and operating activities.
How market research can contribute to the business By properly apply market research on the business, I'm confident I can locate where are the problems and able to apply suitable solutions so that the business will be back on making profit in near future. It is also important to inform people that are both internal and external to the organisation. Internally, I, as the market researcher, has the responsibility to advise you, the business owners, the purpose and objectives of the planned research, as well as the detail processes, costs, timelines and require resources such as financial reports, sales performance data and internal reports etc. I would also talk to the staffs that work for the business by interviews, to gather information that
Brian Crowe MGMT 368 Utilitarian Paper The Ford Pinto Case The best way to describe this case using the utilitarian principles and ethical business practice would be to consider the good and bad consequences for everyone that this action would affect. Unfortunately when it comes to business it is very hard for executives to make a good ethical business practice base on utilitarian principles and act morally because business seek to make a profit. Business will use a cost-benefit analysis in order to help them weigh the bad and the good consequences of performing a certain action as it relates to itself. On the other hand a utilitarian analysis, as an ethical point of view, weight the good and bad consequences on everyone affected (DeGeorge). In 1970 Ford Motor Company launched their new line of automobile called the Ford Pinto; they used a cost-benefit analysis based strictly on how the consequences will affect themselves as a business and not as an ethical analysis.
The fear brought many negative affects to the finances of companies and to the areas of auditing and consulting. Shareholders of many successful companies were now aware of how auditing and consulting led to a conflict of interest and were demanding that organizations address these concerns through the separation of auditing and consulting. Although these shareholders had the right intentions, the split requires further analysis to understand the implications of the Enron and Arthur Anderson relationship and the benefits and drawbacks to having one firm providing both auditing and consulting services. Events Leading to Separation Arthur Anderson’s contributions to the Enron disaster began with the change of focus of Arthur Anderson from unquestioned accounting ethics to generating income (Brooks, 2007). When one focuses primarily on making money other considerations become so unimportant that they rarely, if ever, enter the picture.
Lastly, we will summarize the information presented with a synopsis of what internal control measures are recommended. Ultimately, LBJ wants to go public in the future and to do so the company must have strong internal accounting controls in place and utilized. LJB Company: Internal Controls Report. Per LBJ’s request, this report has been created to provide your organization with the tools necessary to implement a solid internal control accounting procedure system. Internal controls are extremely important accounting practices that help ensure the safety of your business from fraud and clerical errors.
Pastan (2006) further noted, Ethical behavior in business is critical. When business firms are charged with infractions, and when employees of those firms come under legal investigation, there is a concern raised about moral behavior in business. Hence, the level of mutual trust, which is the foundation of our free-market economy, is threatened”. One of the cases where a business was charged with such unethical infractions is WorldCom. Scharff (2005) reported, “WorldCom, now named MCI, recently emerged from bankruptcy protection after reporting accounting irregularities of $11 billion”.
The members of the Audit team, the audit manager Pete and two audit staffers Ben and Maureen have to understand the client’s business and industry. 2. Assess client business risk. Business risk is the risk that Smackey will be unsuccessful in achieving its objectives. In this activity, the audit team assesses the risk of material misstatements arising from Smackey’s business risk.