The millennials hurd together, but the issue is that a cohort of clueless and ignorant people will not learn anything new from each other. A business undergoes the process of converting to an environment that does not only teach millennials how to be their best, but how to look back on past generations and learn from their mistakes. The millennials need more exposure to more fulfilling and old fashioned times, so that they can fix themselves and work more efficiently in a corporate
If a company does not have a set of ethical beliefs to instill into their team members, the company is not setting a good foundation on which to stand upon. The mere fact that our ISMs are written in a clear manner using language that is easily understood by all demonstrates the culture of one big family living by one set of rules. The nineteenth ISM establishes the fact that in all things, choosing to do the right thing is the best thing. The only con to having and ethics policy would come into play if a team member violated one of the ethical ISMs. If a situation such as that were to happen, it could be said that the ISMs are simply in writing but not
Section 1: Introduction and situational analysis: In the world of business ethics, there are certain examples and scenarios that have become a commonplace for teaching aids. In the case of Enron and its eventual downfall from a perceived highly ethical and successful company. Enron was once ranked the sixth largest energy company in the world. At the height of its success, Enron seemed to be an outstanding corporate citizen, with all the social wellbeing and business ethics tools and status symbols in place (Brinkman, 2003, p. 244). However, due to a deep culture of rewarding clever strategies to bend, break laws and codes, the company eventually collapsed and filed for bankruptcy.
Existential Issues: William Craig mentioned that even Russel admitted that moral values can never be based on our personal taste and our decisions and he further said, "The point is that if there is no God, then objective right and wrong cannot exist" (Craig). I agree with him because God guides us to the path that leads to success and betterment of many people including ourselves. If we do not have faith in God then there's nothing that could go right since there would be no purpose and no fear of punishment or greed and passion for the reward that can make us follow what's right and wrong in life. “'If life ends at the grave, then we have no ultimate purpose for living'' (Craig). I'd say I agree with him to some extent because many of us
Entrepreneurs should be free to operate their businesses in the way that will bring them the most profits. 2. What is good for the entrepreneur is good for everyone, since profits mean more jobs and more goods. The individual’s profits contribute to the nation’s profit and, therefore, to a healthy economy. 3.
It’s important because this industry is very stable so they have to really focus on growing the company, even though it will be a small numbers, that is still better than nothing. The shareholders will not be happy to hear stable in the report, they would be happy to hear growth. Just like what we learned in class, the things to focus on are profitability and growth. Since they are already in the markets, the growth is really have to be deliberate, as mentioned earlier that they have to cut the fat part that hey don’t need and focus more on what will benefit the company the most. Add up to that the company need a strategic plan, this is when all the corporate culture, branding, and customer focus came into the board in an order to help keep the company growing.
Ethical responsibilities pertain to the supply chain. Even though the means may be more expensive when sourced ethically, consumers expect a transparent supply chain and are no longer turning a blind eye to a corporation’s supply chain. The final tier of the pyramid are desired responsibilities which include discretionary/philanthropic responsibilities. Along with maximizing profits for a corporation’s shareholders, acting within legal limits, and have an ethical supply chain, corporations are desired to contribute resources to the community. Philanthropic activities could be held anywhere, even in communities far away from the businesses.
Diversity when properly managed and implemented, contributes immeasurably to the growth of a business. As such, prioritizing diversity in business activities as a social responsibility does not only benefit the community the business is located but also promotes growth within the business environment. Diversity has been seen to be the premise for a healthy human reproduction and development. It is also needed to complement the ever increasing rigidity and interdependence that exists in the global business environment. Nielsen and Nielsen, 2013 postulated that “global firm have been shown to perform better because of diversity.” But they further explained that the management of diversity is very crucial as the world is increasingly becoming interconnected and complex.
Shareholders: When operating ethically shareholders would like to maximise their return on investment. They would likewise need to guarantee that supervisors are behaving ethically and not risking investors’ capital by engaging in actions that could hurt the company’s reputation. Shareholder’s may not be happier as the return on investments would be lower when a business attends to operate ethically but it is possible to persuade them by clarifying the long haul results of the business. Customers: They are the most critical stakeholder for a business. Customers would need new better quality items at sensible prices.
Moreover, it would be essential for the mission statement to be changed so that it generates a number of workable strategic alternatives, because it does not provide alternative strategies it motivates readers to action and creates an emotional connection It provides positive feelings it creates an impression that the company is successful and heading to the right direction JC Penny mission statement has an element of showing future growth prospect as it encourages employees to be more productive and perform at their best to win more clients. It provides criteria that can be beneficial in making a decision A mission statement should show future growth prospects Part 2 Company Strategies It is very important to understand that JC Penny has been using a number of strategies with the soul goal of gaining competitive advantage. We all know that a pricing strategy takes into account segments, ability to pay, market conditions, competitor actions, trade margins and input costs, amongst others; well, this same pricing strategy is one of the frequently used strategies by JC Penny. The reason it is used this much frequently is because they are trying to gain cost leadership in the market by appearing like it is