Friday, January 31, 2020
Ethical Business Behavior Essay Example for Free
Ethical Business Behavior Essay For this paper I will be discussing Business Ethics and Corporate Social Responsibility (CSR) using Anglo-American and Primark case studies as examples. First, I will discuss what is meant by ethical business behavior. Second, I will discuss how Anglo-American and Primark apply ethics into their business practices. Third, I will discuss what the costs and benefits are to an organization when they behave ethically. Finally, I will choose one component from Svennson Woodsââ¬â¢ model from ââ¬Å"A Model of Business Ethicsâ⬠, and discuss how it is relevant for Anglo-American. Ethical Business Behavior Ethical business behavior refers to an organizations actions and policies that are synergetic with doing the right thing (Sethi, 2003). Similar to the inherent laws of society that man has established that promote specific behaviors and actions that are deemed appropriate to build trust and relationships that last, it is similar in corporations. In order to operate ethically, organizations must also establish a clearly defined set of principles and a culture of ethical compliance that builds trust and confidence with their employees and their customers (Paine, 1994). Ethical business behavior is a combination of values and normative ethics, which drive an organization. Additionally, ethical business behavior is expected by society as a whole. Svennson Woods write, ââ¬Å"Society does have expectations of business and of its business leadersâ⬠(Svennson Woods, 2008). Anglo-American and Primark are two companies that provide great strategies for practicing strong ethical busines s behaviors. Although both companies are in different industries, the fundamentals of their message of ethical compliance are similar in nature. Anglo American Anglo American, an international mining company operates throughout the world. According to the company, ââ¬Å"It has extensive operations in Africa, where 76% of its employees live. It is also a major employer in Europe and employs nearly 7,000 people in the UKâ⬠(Anglo American, 2008). This companyà is a major global producer and has an important role in this world economy. With the type of work this company does, and with the countries it operates in it is important for them to conduct their operations in an ethical manner. Anglo American applies corporate social responsibility through building communities in which they operate. According to the companyââ¬â¢s ethical statement, ââ¬Å"a long-term business such as ours will only thrive if it also takes into account the needs of other stakeholders such as governments, employees, suppliers, communities and customers.â⬠(Anglo American, 2008) They also are focused on the safety of their employees. Operating in Africa can be dangerous at best and it is the responsibility of Anglo American to ensure its employees are working in a safe environment. The company has contributed to the Voluntary Principles on Security and Human Rights, which sets out principles and practices for ensuring that a companyââ¬â¢s need to ensure the security of its employees and operations in volatile countries does not adversely impact upon the local population (Anglo American, 2008). Last, but not least, Anglo American is also dedicated to the environmental issues, combating corruption and promoting revenue transparency. Primark For Primark there business is to produce quality clothing items globally. The company is a part of the Associated British Foods (ABF), a diversified international food, ingredients and retail group. Primark has almost 200 stores across Ireland, the UK, Spain, Netherlands, Germany, Belgium and Portugal (www.times100.uk.co/Primark). In relation to business ethics, Primark takes a strong position on their belief in their responsibility to be socially responsible and to practice strong ethical business decisions. As a producer of clothing with a global supply chain, Primark interacts with many 3rd party vendors from all across the world. The company has embraced the challenges of ensuring that all of its clothing supply sources come from an ethically driven manufacturing company (www.times100.uk.co/Primark). The company publicly stresses its ethical position in the following statement on its website, As an international brand with a global supply chain we have aà responsibility to act ethically. We embrace this responsibility as an opportunity to be a great force for good. Primark is committed to providing the best possible value for our customers, but not at the expense of the people who make our products (www.times100.uk.co/Primark). In addition, Primark takes many steps to ensure that ethical behavior occurs across its vast organization. As a global manufacturing company, Primark has over 600 major suppliers in over 16 countries, employing over 700,000 employees. Primark stresses the importance of human rights and appropriate employment conditions in all of their supplier locations as part of doing business with them. Primark also has an Ethical Trade Director whose job it is to oversee all global supplier operations and ensure ethical conditions exist in accordance to Primark standards. The Ethical Trade Director manages other ethics managers who are stationed across the globe to monitor all operations activities. Also, Primark is associated with being a member of the Ethical Trading Initiative which is a global network of companies, non government organizations, labor unions, and other organizations that focus on improving the lives of their workers across the globe (www.times100.uk.co/Primark). Primark bases its founding ethical principles on the International Labor Organizations (ILO) Code, which is an agency in the United Nations that combines representatives from governments, employers, and workers to help form the policies and programs for which they operate. Primark has also established its own corporate code of conduct that has been translated into 26 languages and is used at all locations to stress the importance of human rights, equality, and ethical behavior in the workforce (www.times100.uk.co/Primark). Costs and Benefits To Operating Ethically Every company has costs and benefits associated with doing business. Operating ethically also has its cost and benefits. First, when dealing with costs associated with doing business ethically, itââ¬â¢s important to note that competition must remain fair in order for social responsibility to develop. Friedman (1962, p. 133) contended that, ââ¬Ëââ¬Ë there is one and only one social responsibility of business ââ¬â to use its resources and engage in activities designed to increase its profits so long as it stays within theà rules of the game, which is to say, engages in open and free competition, without deception or fraudâ⬠. Benefits of doing ethical business not only benefits the organization, but the customers, communities, and shareholders. In addition to these benefits, a strong ethical program promotes a strong public image, which is very important in todayââ¬â¢s business climate. Murray and Vogel (1997) determined that when consumers were aware of the fact that an enterprise had made a great deal of effort to fulfill its social responsibilities, they were much more willing to purchase this enterpriseââ¬â¢s products. Mohr and Webb (2005) asserted that an enterpriseââ¬â¢s responsible behaviors had positive effects on consumersââ¬â¢ evaluation of this enterprise and their purchasing intention and that an enterpriseââ¬â¢s lower level of ethics would significantly reduce this purchasing intention. Another benefit of doing ethical business is that not only it helps the business achieve its objectives of profits and reputation, but also helps manage other departments in the business. A business following ethics will have ethical programs that would identify values and would make sure that organizational behavior is in adherence to those values. This will be very useful for different other programs within the business such as quality management, strategic planning and diversity management (McNamara). Quality management places high importance on certain operating values for example trust among employees, reliability, measurement and feedback (McNamara). If a business has set ethical values the process of quality management will be more reliable and the business will be able to offer better quality to the consumers enhancing its image and increasing its profitability. Moreover ethics management techniques may be useful for managing strategic values such as expanding market share (M cNamara) and will make strategic decisions with utmost care while considering the broader effects. So ethics in business has a broader effect and is not limited to reputation, profits and growth. International Business with Integrity Svennson Woodsââ¬â¢ international business with integrity model from ââ¬Å"A Model of Business Ethicsâ⬠applies well to Anglo American due to the nature of mining operations in foreign nations and the environmental issues associated. It is expected that multi nationalsââ¬â¢ corporations act ethically, not only because it is the right thing to do, but also it is within their power to do so. Svennson Woodsââ¬â¢ (2008) write, ââ¬Å"Citizens of first world societies expect their corporations to display integrity in their international business dealings.â⬠According to Anglo American, one of their goals is to ââ¬Å"mine in ways that minimize environmental impacts is more expensive than extracting resources regardless of impactâ⬠(Anglo American, 2008). The Pebble Project in Alaska is a good example of the way that Anglo American takes account of the environment. There was some concerned that the mine could damage fish stocks and wildlife. Therefore, Anglo Amer ican consulted widely and through a structured process with local people, politicians, businesses and especially indigenous people. Anglo American has made it clear that it will only seek to proceed with the project if it can be done without damage to the local fisheries (Anglo American, 2008). The environment is a major concern for people and governments around the world. Corporations have immense amount of pressure to produce goods to meet demand, but at the same time they have to be conscience about the environment. Countries around the world have laws governing environmental protection and there are several agencies to protect it. Conclusion To conclude, ethical business behavior is a combination of values and normative ethics, which drive an organization. Corporate social responsibility is important not only because it is the right thing to do, it also affects the stakeholders. Anglo American and Primark are examples of how major corporations can meet shareholder expectations, while conducting operations in an ethical manner. The costs and benefits associated with doing business ethically are important to take into consideration when reviewing ethics policies; however it is better to look at the long term benefits versus the short term costs. References: Anglo American. (2008). Business ethics and corporate social responsibility. Retrieved from http://www.thetimes100.co.uk/new-downloads-pop.php?getFile=cHJpbWFyay9wcmltYXJrXzE1X2Z1bGwucGRm Friedman, M. (1962). Capitalism and freedom. (p. 133). Chicago, Il: University of Chicago Press. Retrieved November 30, 2011 from http://www.hh.se/download/18.70cf2e49129168da0158000103376/2007+Model-of-Business-Ethics.pdf McNamara, C. (n.d.). Complete guide to ethics management: An ethics toolkit for managers. Retrieved from http://managementhelp.org/businessethics/ethics-guide.htm Primark. (2011). Providing consumers with ethically sourced garments. Retrieved from http://www.thetimes100.co.uk/new-downloads-pop.php?getFile=YW5nbG9fYW1lcmljYW4vYW5nbG9fYW1lcmljYW5fMTNfZnVsbC5wZGY Svensson, S., Woof, S. (2008). A model of business ethics. Journal of Business Ethics, (77), 303-322: DOI 10.1007/s10551-007-9351-2. Retrieved November 30, 2011 from http://www.hh.se/download/18.70cf2e49129168da0158000103376/2007%2BModel-of-Business-Ethics.pdf Sethi, S. P.: 2003, _Globalization and the Good Corporation: A Need for Proactive Co-existence_, Journal of Business Ethics 43, 21-31. Paine, L. S.: 1994, Managing for Organizational Integrity_, Harvard Business Review March/April, 106-117. Murray, K. B., Vogel, C. M. (1997). Using a hierarchy of effects approach to gauge the effectiveness of CSR to generate goodwill towards the firm: Financial versus non-financial impacts. Journal of Business Research, 38(2), 141ââ¬â160. Mohr, L. A., Webb, D. J. (2005). The effects of corporate social responsibility and price on consumer responses. Journal of Consumer Affairs, 39(1), 121ââ¬â147.
Thursday, January 23, 2020
The Destruction of Female Possession in The English Patient Essay
In Michael Ondaatjeââ¬â¢s The English Patient we see a world completely ravaged by war. The land itself is damaged, sometimes beyond recognition as it is torn apart by bombs. Just as these human-made structures have faced the damage of imperialism, so have female bodies in the novel. Ondaatje creates several parallels between manââ¬â¢s attempt to ââ¬Å"ownâ⬠the land around him and his ââ¬Å"ownershipâ⬠of the female body. As we see in the novel, this attempt at ownership almost always ends in destruction, ââ¬Å"war,â⬠and often, death. What I believe Ondaatje is trying to present to us is the impossibility of ââ¬Å"owningâ⬠something that should ultimately be free, such as the female body (or any body, for that matter.) Though some feminist theorists such as Lilijana Burcar have claimed Ondaatjeââ¬â¢s novel perpetuates the idea of male ownership of female bodies, I believe we see several examples of female empowerment hidden throughout th e novel; examples of females outwardly rejecting such ââ¬Å"ownership,â⬠as Hanna refuses to be seen as a sexual object by Carravagio, and even changes her appearance to ââ¬Å"defeminizeâ⬠herself. We even see gender-roles reverse. The ââ¬Å"male gazeâ⬠seems to apply not only to males, but to females as well as Hanna views the sapper, Kip, in a ââ¬Å"feminizedâ⬠and often ââ¬Å"sexualâ⬠way. Most striking of all, however, is Ondaatjeââ¬â¢s representation of the character Katharine as an almost voiceless physical body which is undoubtedly ââ¬Å"ownedâ⬠and consumed by Almasyââ¬â¢s desire. As we see, this ââ¬Å"ownershipâ⬠leads to what is arguably the biggest destruction in the novel: the destruction of both Katharine and Almasy altogether. Before focusing on the most extreme example of male ownership that is Almasyââ¬â¢s ownership of Katharine, I want to first exa... ...vere gender-divide that is only normally present in same-sex relationships. This along with Hanaââ¬â¢s appreciation for her own body and sexuality show readers a new type of relationship. In this way, I feel Ondaatjeââ¬â¢s novel is progressive and reflects several feminist values and ideals, though they are often hidden just below the surface. Works Cited Burcar, Lilijana. ââ¬Å"Mapping the Womanââ¬â¢s Body in Ondaatjeââ¬â¢s The English Patientâ⬠Postcolonialweb.org Bordo, S. 1993. "Feminism, Foucault, and the Politics of the Body." In C. Ramazanoglu, (Ed.): Up Against Foucault. Explorations of some Tensions between Foucault and Feminism. London and New York: Routledge.181 -202. Butler, J. 1990. Gender Trouble. Feminism and the Subversion of Identity. London and New York: Routledge. Suleri, Sara. The Rhetoric of English India. Chicago: University of Chicago Press, 1992.
Wednesday, January 15, 2020
Management Accounting – Setting Prices
cco Management Accounting Tutorial 5 15-3. List and briefly describe 4 major influences on pricing decisions Customer Demand: the demands of customers are of paramount importance in all phases of business operations, from the design of a product to the setting of its price. Product-design issues and pricing considerations are interrelated, so they must be examined simultaneously. For example, for a higher quality product; you need higher quality materials which will affect a higher cost and needs more time and this will lead to a higher pricing on a product.Also, a manager must not price its product out of the market price range. Actions of Competitors: companies must keep an eye on its competitors. If its competitor reduces its pricing on a product, they might have to follow suit to avoid losing its market share. However, one must not follow the actions of its competitorsââ¬â¢ blindly as a company has to predict competitive reactions to its product-design and pricing strategy. Th e company must also be careful to properly define its product, such that if they increase the price of the product; will the consumers continue purchasing the product?Costs: some prices are determined almost entirely by market forces. Industries such as agriculture; where most products are market-driven. To make a profit, farmers must produce at a cost below the market price. This is very risky as it is not always possible to produce at a price lower than the market price and this will inevitably lead to losses for the farmers. In other industries, prices are set by adding a markup to production costs so managers do have some latitude in determining the markup. Therefore, both market forces and cost considerations heavily influence prices.No organization or industry can price its products below their production costs indefinitely. And no companyââ¬â¢s management can set prices blindly at a cost plus a markup without keeping an eye on the market. Political, Legal and image-related issues: managers must adhere to certain laws. The law generally prohibits companies from discriminating among their customers in setting prices. It is also forbidden in collusion in price setting between major firms. Political considerations also can be relevant.For example, if the firms in an industry are perceived by the public as reaping unfairly large profits, there may be political pressure on legislators to tax those profits differentially or to intervene in some way to regulate prices Companies also consider their public image in the price-setting process. A firm with a reputation for very high quality products may set the price of a new product high to be consistent with its image. 15-11. Write the general formula for cost-plus pricing, and briefly explain its use. Price = Cost + (Markup % * Cost) 15-12. List the 4 common cost bases used in cost-plus pricing.How can they all result in the same price? ââ¬â Variable manufacturing cost + (Markup % * Variable manufacturing cost) ââ¬â Absorption manufacturing cost + (Markup % * Absorption manufacturing cost) ââ¬â Total cost + (Markup % * Total cost) ââ¬â Total variable cost + (Markup % * Total variable cost) Several different definitions of cost, each combined with a different markup percentage can result in the same price for a product or service. 15-13. List 4 reasons often cited for the widespread use of absorption cost as the cost base in cost-plus pricing formulas. ââ¬â In the long run, the price must over all costs and a normal profit margin.Basing the cost-plus formula on only variable costs could encourage managers to set too low a price in order to boost sales. This will not happen if managers understand that a variable cost-plus pricing formula requires a higher markup to cover fixed costs and profit. Nevertheless, many managers argue that people tend to view the costs base in a cost-plus pricing formula as the floor for setting prices. If prices are set too close to variable manufacturing cost, the firm will fail to cover its fixed costs. Ultimately, such a practice could result in the failure of the business. Absorption-cost or total-cost pricing formulas provide a justifiable price that tends to be perceived as equitable by all parties. Consumers generally understand that a company must make a profit on its product or service in order to remain in business. Justifying a price as the total cost of production, sales, and administrative activities, plus a reasonable profit margin, seems reasonable to buyers. ââ¬â When a companyââ¬â¢s competitors have similar operations and cost structure, cost-plus pricing based on full costs gives management an idea of how competitors may set prices Absorption-cost information is provided by a firmââ¬â¢s cost accounting system, because it is required for external financial reporting under generally accepted accounting principles. Since absorption-cost information already exists, it is cost-effective to use it for pricing. The alternative would involve preparing special product-cost data specifically for the pricing decision. In a firm with hundreds of products, such data could be expensive to product. 15-14. What is the primary disadvantage of basing the cost-plus pricing formula on absorption cost? The primary disadvantage of absorption-cost or total-cost pricing formulas is hat they obscure the cost behavior pattern of the firm. Since absorption-cost and total-cost data include allocated fixed costs, it is not clear from these data how the firmââ¬â¢s total costs will change as volume changes. Another way of stating this criticism is that absorption-cost data are not consistent with cost-volume-profit analysis. CVP analysis emphasizes the distinction between fixed and variable costs. This approach enables managers to predict the effects of changes in prices and sales volume on profit. Absorption-cost and total-cost information obscures the distinction between variable and fixed costs . 5-15. List 3 advantages of pricing based on variable cost ââ¬â Variable-cost data do obscure the cost behavior pattern by unitizing fixed costs and making them appear variable. Thus, variable-cost information is more consistent with cost-volume profit analysis often used by managers to see the profit implications of changes in price and volume ââ¬â Variable-cost data do not require allocation of common fixed costs to individual product lines. ââ¬â Variable-cost data are exactly the type of information managers need when facing certain decisions, such as whether to accept a special order.This decision often requires an analysis that separates fixed and variable costs 15-16. Explain the behavioral problem that can result when cost-plus prices are based on variable cost. If the managers perceive the variable cost of a product or service as the floor for the price, they may tend to set the price too low for the firm to cover its fixed costs. Therefore, if variable-cost dat a are used as the basis for cost-plus pricing, managers must understand the need for higher markups to ensure that all costs are covered. 15-17. Briefly explain the concept of return-on-investment pricingA common approach to determine the profit margin in cost-plus pricing is to base profit on the firmââ¬â¢s target return on investment 15-18. Explain the phrase price-led costing. Target costing sets the target cost by first determining the price at which a product can be sold in the marketplace. Subtracting the target profit margin from this target price yields the target cost, that is, the cost at which the product must be manufactured. This simple, but strategically important, relationship can expressed in the following equation:Target cost = Target price ââ¬â Target profit 15-19. Why is a focus on the customer such a key principle of target costing? To be successful at target costing, management must listen to the companyââ¬â¢s customers. Management needs to aggressivel y seek customer feedback and then the products must be designed to satisfy customer demand and be sold at a price they are willing to pay. In short, the target costing approach is market driven. 15-25. Describe the following approaches to pricing new products: skimming pricing, penetration pricing and target costing.Skimming pricing; which the initial product price is set high, and short-term profits are reaped on the new product. The initial market will be small, due in part to the high initial price. This pricing approach often is used for unique products, where there are people who ââ¬Ëmust have itââ¬â¢ whatever the price. As the product gains acceptance and its appeal broadens, the price is lowered gradually. Eventually, the product is priced in range that appeals to several kinds of buyers. Penetration pricing; which the initial price is set relatively low. By setting a low price for a new product, the management hopes to penetrate a ew market deeply, quickly gaining a la rge market share. This pricing approach often is used for products that are of good quality, but do not stand out as vastly better than competing products. Target cost; where the company first uses market research to determine the price at which a new product can be sold. Given the likely sales price, management computes the cost for which the product must be manufactured in order to provide the firm with the cost for which the product must be manufactured in order to provide the firm with an acceptable profit margin.Finally, the engineers and cost analysts work together to design a product that can be manufactured for the allowable costs. This method is used widely by companies in the development stages of new products. It is projected long-run cost that will enable a firm to enter and remain in the market for the product and compete successfully with the firmââ¬â¢s competitors. 15-27. Briefly explain the potential negative consequences in pricing decisions from using a traditio nal, volume-based product-costing system. Use of a traditional, volume-based product-costing system may result in significant cost distortion among product lines.In many cases, high-volume and relatively simple products are overcosted while low-volume and complex products are undercosted. This results from the fact that high0volume and relatively simple products require proportionately less activity per unit for various manufacturing support activities than do low-volume and complex products, yet a traditional product-costing system, in which all overhead is assigned on the basis of a single unit-level activity like DL hours, it fails to capture the cost implications of product diversity.
Monday, January 6, 2020
Questions And Answers In Mathematics - 1049 Words
7 Nelenora-3 Nelenora show a proficient understanding of terms covered this far in math. Nelenora stays on task during class and completes assignments on time. It is important that Nelenora slows down when writing exams. Often she rushes through and misses important parts of the questions. I will continue to prompt Nelenora to slow down and carefully read each question. Kessler-4 Kessler shows an excellent understanding of terms covered this far in math. He has been working diligently to complete tasks in class. Sometimes Kessler lacks confidence in math and gets upset when the work becomes challenging. I often need to remind Kessler that its okay to struggle. If Kesslerââ¬â¢s positive work ethic persists into the next unit, he will haveâ⬠¦show more contentâ⬠¦Hannah is an active participant in classroom discussions and often shares her thoughts, as well as, experiences with the class. Hannah often works independently on topics as she has been giving the opportunity to work ahead of the class. When Hannah is completed each unit she is able to work on her Genius Hour project. Keep is up Hannah! Keisha-3 Keisha demonstrates a proficient understanding of terms covered this far in math. She uses her time well in class and completes her work. If Keisha does not understand a topic, she struggles with seeking additional help. Asking for help or clarification will benefit Keisha in the upcoming term. Abram-4 Abram demonstrates an excellent understanding of terms covered this far in math. He works hard in class and uses his time efficiently. Often Abram rushes through exams and does not go over his work. It is important that Abram seeks assistance if he does not understand what the question is asking him. This will benefit Abram in the upcoming term. Trista-4 Trista shows an excellent understanding of terms covered this far in math. During the creation of a math worksheet Tristaââ¬â¢s deep understanding was evident, as she created insightful and challenging questions for her class. Trista works hard in math class and uses her time effectively. 8 Judieth-4 Judieth shows an excellent understanding of terms covered this far in math. She uses her work time effectively and puts effort into her work. ItShow MoreRelatedIs Neutrality A Key Component For The Different Areas Of Knowledge?1249 Words à |à 5 Pagesdepends on neutral questions so that people do not develop biased responses due to the way a question is set up. Political surveys are a prime example of the importance of neutral questions. When questions are not carefully worded, the framing effect can take place depending on how someone words a question. Although the accuracy of political survey results depend on the neutrality of a question, to create a question without bias is impossible. There is no such thing as a neutral question. 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