To say the time period following the Civil War in the United States involved a lot of change would be a understatement. Between the years 1870 and 1900 the people of the United States lived through a period of great change. Not only did they witness technological advances that would change their daily lives, they also saw new laws and organizations formed. All of this was done in hopes of improving the country. Many of these changes came about because of the type of businesses that were formed. In the post-Civil War United States corporations grew significantly in number, size and influence. Big business had a major impact on the economy and politics in America resulting in changes for many American citizens.
During the period of 1870 to 1900 large corporations, such as the railway company, grew significantly in size, number, and influence. The cause of this was the need for a new way of transportation, the demand was great so the railways expanded all over the United States so that they could meet these demands. These large corporations affected the economy by making it easier to pay for everyday chores, politics in the way that it gave politicians too much power but in doing so gave normal limited power. The corporations had great power and influence which made them a huge impact to society.
In the 21st century, we are living in a globalized world. We eat different countries’ food; we enjoy different countries’ holiday; and we meet different countries’ friend. We could do all those things around the world. Globalization makes our life more interesting, also makes our world better.
International Organization of Employers. (2005). The role of business within society: Position Paper. Retrieved June 27, 2017, from http://www.ioe-emp.org/fileadmin/ioe_documents/publications/Policy%20Areas/csr/EN/(2005)%20The%20Role%20of%20Business%20in%20Society.pdf
Adopting the CSR principles involves costs. These costs might be short term in nature or continuous outflows. These costs might involve the purchase of new environmentally friendly equipment, the change of management structures, or the implementation of stricter quality controls. Since being socially responsible involves costs, it should generate benefits as well in order to be a sustainable business practice. A corporation could not continue a policy that constantly generates negative cash flows. The shareholders invest their money in a corporation, expecting the highest possible risk adjusted return. Therefore, being socially responsible should have bottom-line benefits in order to be sustainable. In many cases, it seems that the time frame
1) According to the film, the standard metaphor for a corporation is that of an apple within a barrel where most apples are good and just a few bad. Several CEO’s offered alternative metaphors, such as pieces of a jigsaw puzzle, a sports team, family unity, a telephone system, or an eagle. Less flattering metaphors are that of a devouring monster, a whale, or the Frankenstein monster. Are any of these metaphors more appropriate than others?
Corporate social responsibility (CSR) is focus of the current business world, consumers pay more attention to the return of the company rather than the quality and price of the product. Recently, the increasingly international corporate scandals have exposed some serious issues on the roles and responsibilities of companies (Brammer, Williams and Zinkin, 2004). According to a report from PricewaterhouseCoopers (Cheney, 2004), companies that ignore environmental problem and social responsibility are all suffer disaster. In order for companies to be competitive in the variable business environment, they must making profits while making the world a better place. Therefore, the performance of companies should not only measured by
The CEO has a direct responsibility to his or her employers. That responsi¬bility is to conduct the business in accordance with their desires, which generally will be to make as much money as possible while con¬forming to the basic rules of the society, both those embodied in law and those embodied in ethical custom. Friedman is very clear in his belief that if a CEO has a “social responsibility”, it must mean that he is to act in some way that is not in the interest of his employers. He uses an example of not increasing the price of the product in order to contribute to the social objective of preventing inflation, even though a price increase would be in the best interests of the corporation. Or hiring long-term un-employed instead of better qualified available workmen to contribute to the social objective of reducing poverty. In these cases the CEO would be spending someone else’s money for general social
Although Marks and Spencer and Mulberry are all fashion industries under retail channels that follow the rules of IFRS for auditing. In order to identify their similarities and differences in their accounting policies, the following six categories are compared and contrasted:
Businessman “believe” they are defending a free enterprise by promoting a social conscience and denying concerns of solely making profits. In this, the writer presumes that it is the businessman whom is responsible for the corporation’s social responsibility. However, since most discussion is directed towards corporations as a whole, the writer focuses on corporate executives. Difficulties arise with the exercising of social responsibility by corporate executives, but there is a cloak social responsibility brings and tends to harm the foundations of a free society. Within the business world, the writer emphasizes upon two political principles, the market mechanism and the political mechanism. The market mechanism is ideal, yet the use of the political mechanism is unavoidable and as the reader agree. The writer states, “The social responsibility of a business is to engage in an open and free competition without deception or fraud.” This is ideal regarding social responsibility, but as the reader I question how avoidable is fraud and
The corporate scenarios refer to the procedures for establishing/creating a description of the future conditions and situations that a business may face based on the evaluation of the present and past tendencies in the sector. As affirmed by Wheelen et al. (2017), they are the future estimates of comprehensive income statements and balance sheet that firms use to predict the benefits and the effects of using each alternative policy and the returns that may be received from undertaking a given investment program. Apparently, corporate scenario estimates the possible circumstances on what might happen when one decides to apply a particular strategy to the other one. Corporate Scenarios can have significant effects on the
Management accounting is a profession that involves partnering in management decisions, arranging planning to performance management systems, and providing expertise in financial reporting and control to assist in the formulation and implementation of an organization's strategy. Managerial accountants look at a variety of events that happen in and around a business while considering the needs of the business. Once completed data and estimates surface, cost accounting brings the estimates and data into knowledge that will eventually be used to guide decision-making. In managerial accounting, managers use the collected information to get better informed before any decisions are made within their organizations. After strategies are set and plans are made, management's primary task is to take steps to ensure the plans are carried out, or if need be, that the plans are modified. This is considered to be the critical control function of management. Since management involves directing the activities of others, a major part of the control function is making sure other people do what should be done. For example I work for a company that has a process in place called Project Momentum, each year the leadership team comes
Crazy Eddie was a fast-growing consumer electronics chain in the 1980s. The founder of Crazy Eddie are Eddile Antar, and the key business position in this company are filled by Antar family’s members. In order to avoid paying more taxes on their business income, the Antar family had decided to skim large amounts of cash from their dairly business sales. The family made more money by skimming cash, and they deposited those cash in Israeli banks to avoid tracking in U.S. However, the family felt unsatisfied with the cash they made and they decided to take Crazy Eddile public. The Antar family had started to reduced the skimming operation and had transfered their large amount of money from the bank in Israel to a bank in Panama.
The main theory behind this research is mental accounting, established by economist Richard Thaler. Mental accounting is the set of cognitive operations used by individuals to organize, evaluate, and keep track of financial activities. Mental accounting does not, unlike other accounting ways, consist of numerous rules and conventions that have been codified over the years. We can learn about mental accounting only by observing behaviour and inferring the rules. The focus of the theory will be on a few parts of mental accounting.
In the 1960s, we began to see scholars striving to best state what CSR meant (Carroll, 2008) . Among scholars, who contributed to defining the corporate social responsibility on early stages, were C. Walton with his book Corporate Social Responsibilities (1967), which analyses the role of business organization in society, William C. Frederick with the article The Growing Concern over Business Responsibility (1960), which suggests new ideas how to judge your responsibility, as a businessman. Joseph McGuire`s Business and Society (1963) also significantly contributed to the studying