Social responsibility of business has been a debated topic for years. The ideas of different businessmen have had effects on the direction of business in this period. This essay analyses two texts, which have Milton Friedman’s arguments about social responsibility of business and John Friedman’s ideas about Milton Friedman’s, by comparison and contrast method and includes this writer’s evaluation. Milton Friedman’s text is about the effects of the name of social responsibility on a private property system including executives, stockholders, employees and customers. He gives us some assumptions and examples of their potential results and impacts on corporations to express his ideas clearly.
Financial Accounting is a field of accounting concerned with a company’s financial transactions. It uses standardized accounting guidelines to record, summarize and present the transactions to mainly external users periodically by means of Financial Statements. Creditors and other lenders like banks and other financial institutions, Government Authorities, Prospective Investors, Customers, Competitors and Regulatory Authorities are some of the External Users who may use these Accounting information for various decision making purposes. Managerial Accounting also referred to as Cost Accounting is a branch of accounting that helps in identifying, analyzing interpreting, preparing and communicating both Financial and Non-Financial information
Under the idea of limited liability the owners of the organization under ordinary circumstances, are not answerable or in charge of the commitments of the organization in this manner owners shareholders liable just for the amount of their unpaid shares and not the commitments of the organization. The idea of separate legal personality was strongly found by House of Lords in the major case Solomon v Solomon and co.Ltd . (Idzwan, 2009) The case strongly found that upon incorporation, another and separate artificial entity starts to be. At law, a partnership is
Verizon reports their business code of conduct has become a model for other businesses and organizations. Corporate codes of conduct operate in a legal and ethical environment while addressing multiple audiences both inside and outside the organization (Willerton R. 2015). In some cases political behavior is outside specific job requirements. Furthermore, it requires attention to use power bases. Moreover, the requirements include attempts to influence the goals, criteria or processes used making decisions.
This is very different compared to sole traders and partnerships which can be held personally liable and have to cover any debts. A LLC combines the characteristics of a corporation and a partnership or sole trader. However, it is important
Time, product, location, customer demographics are called business dimensions. Each business dimension further can be divided into hierarchy level. Through business dimensions, some facts of a particular subject are measured. There are some methods also for gathering business requirements such as interview, joint application development, questionnaires. In this
In fact, a proper understanding of these factors helps organizations to identify potential business opportunities and threats in the international market (Baines et al., 2011). Huawei, being a multinational company is affected by the external business environment. As such the impact of the external business environment factors on Huawei’s marketing strategy are explained by the PESTEL Model as follows: 1. Political Factors Political factors include laws and legislations which are of great importance due to the fact that they enclose many aspects of a company policy. Through regulatory bodies, the government implements policies that affect businesses in various ways (Vrontis and Pavlou, 2008).
Besides the technology factor, legal factor is also the factor that have in the PESTLE analysis. The legal factor include of the labor laws, consumer laws, safety standards and many more. This factors is significant because the company has to know about what is legal and what is not and follow the legislation that has been set by the government. For instance, Maybank follow the rules by the Malaysian government with setting the security in online banking system. This will keep the customers safe from cybercrime.
PESTLE analysis : Is a shortcut of six words which is political , Economic , Social , Technological , Legal and Environmental .Usually this concept used in marketing .Also it used as a tool by organization to track the environment they are operating in or are planning to new project or service .Moreover it used to assess the four external factors with regard to the situation of the organization's business ,and how it will effect in the business over long term. Political factors: This factor looks at how government regulations and legal issues affect a business's chance to be profitable and successful. Alphabet Games has to aware of these external changes to make necessary changes. Economic factors: Are firmly identified with social ones. The economy experiences a progression of variances connected with general impacts and droops in economic activity.
Specialty contract: Specialty contract is a formal contract in law. Specialty contract is utilized by different business exchanges. It can be utilized as a part of lease of property, and in deed of association. In strength contract both gatherings that are included must marked a composed report to demonstrate that they have gone into an agreement. Additionally the gatherings that are included must have a duplicate of the composed record as proof that they are into contract.
They assist corporate lawyers who advise executives on legal matters and policy initiatives related to domestic and international operations. Corporate paralegals assist administrators, office staff, business committees and designated clients. These paralegals are expected to have at least a paralegal certificate from a college or business school. Corporate paralegals also need experience with handling government regulators and external professional organizations. They must have the demonstrated ability to deliver timely and accurate work products.