Kant says that people in business should act out of duty alone, not self-interest or desire to earn huge amounts of money. For example motivating bankers through huge bonuses would be wrong. Kant would also apply the categorical imperative, to derive the duty of a businessman. However, whether Kantian ethics is the best approach in comparison to theories such as utilitarianism is debatable. One issue surrounding business is the relationship of the business to the consumers.
This response likely had the added effect of offending their employee base by suggesting that their employees would utilize the program to steal from the company. This offense has the significant potential for lowering employee engagement and retention. Clearly, Company Q is not educated in how ethical conduct and social responsibility by a company can actually boost its profits. Their current position only serves to perpetuate the long lived consumer mind-set that companies are inherently dishonest and only have eyes on profit. It is unrealistic to believe that Company Q can instantly jump from their current posture to one of deep and meaningful social responsibility and corporate ethics.
Do you think this ruling benefited the people of Michigan? Explain. I believe at first it will benefit the employees of the plant, but eventually it will not be beneficial because then General Motors will not feel like they can invest in other plants, or may not want to invest in it if it will be a problem with them closing the plants down when they want to, especially if they don’t make enough money. Chapter 7: 5. Explain why perfect personalized pricing is typically more profitable than menu pricing.
Hugh McBride will address who the company’s stakeholders are, define the end-state vision, identify and evaluate alternatives, identify and access the risk of the alternatives, recommend optional solutions, create and implement solutions, and to access the outcomes. Beltway Investments are McBride Financial Services major investor. There are some that anticipate for the company to be run by implementing corporate governance. The company’s CEO has decided not to implement this option. The new CEO would rather operate the company without interference of the “money man.” Even though, this maybe a gamble due to corrupt the thinking that would affect Beltway’s public credit.
Their position was lost revenue due to possible fraud and stealing by their own employees. These situations show a lack of compassion between Company Q and the community. The situations also show a lack of trust Company Q’s management has regarding their employees. It is my opinion that you cannot run a successful business if your management team has a lack of trust amongst the employees or not having the support needed from the community. * Part B Three actions that I would recommend for Company Q could take to improve the attitude toward social responsibility would be: In the higher crime rate areas Company Q could invest in a security process that would keep employees and the consumers safe.
As a C-corporation the business, not the owner, would be held liable for any financial damages. Any accidents involving employees or customers would be the responsibility of the corporation to settle. Financially speaking incorporating is the best option because as a sole proprietorship the owner is currently paying a much higher tax rate versus the corporate tax rate. With the tax code being different for corporations there is better profit retention and security. The client also mentioned the issue of partnership and the selling of stock in order to expand the company.
The stress of the audit partner is tremendous and choosing that profession is one that I would prefer not to undertake. The anxiety and pressure to certify that a company’s financial records are in good standing can be daunting. 3.) Independent auditors are sometimes perceived as the “necessary evil” by corporate executives because of the possibility of exposing corruption. To change this point of view an auditor can try to explain their intent to educate and improve the company’s policies, which can in turn lower costs.
Suppose that Cornelius believes that Elliot is not a good hire for Pharma. Can he fire Elliot? Although Adams may have had the legal right to hire Elliot without the consent of the others, it was a morally wrong decision not to seek the consent of the other shareholding partners. As a privately held corporation which is small in size, the promotion of business efficiency is an objective best served by enabling the owners to arrange the organization of the enterprise as they choose unless such decisions are outside the scope of the partnership business which would make it impossible to
Social responsibility is important in a community and any entity has an obligation to benefit the society that they live or do business in. Also, social responsibility is generally a way to increase its profits. Company Q’s current attitude is not conducive to the society that it operates business in. Three areas that could be improved by Company Q are the social responsibilities to its employee’s, to its community, and to itself. The social responsibility that Company Q owes to its employee’s is not closing the stores in the high crime rate areas.
The motivations for applied research and development activities are usually explicit; the goal is to solve a particular problem or to make practical a particular product or service. Much of this work is done (and funded) by businesses with a clear duty to their owners to maximize profits. The motivations for basic research are much less clear, since the knowledge that is intended to be generated is not necessarily practical, and the outcomes are much less certain, and less certain to benefit the sponsor. Why do governments and other organizations decide to fund basic research? How do funders decide which basic research projects to pay for?