In the long run, NPOs that have a strong system of internal controls will prove to be winners in their respective marketplaces and industries. Strong internal controls can help push a organization beyond its current limits and insure the organization not wasting valuable resources. Strong internal controls can also help the organization ensure it serves the public better. The results from the paper have demonstrated that internal controls make a significant contribution to NPO, not only in financial performance but also the financial management processes.
Competition is well known for providing great productivity which leaders to a growth in the economy. Not only can competition improve the quality of work, it can also improve innovation. Innovation is an important quality to have in a company because it aids in keeping products and services fresh. “Economic Influence on Marketing” claims, “To keep current, your business has to adapt to changes in the industry and must always keep its eye out for innovative, cutting-edge technology and product improvements” (Bradley). With the advancements of technology today, many new products come out on the market and the consumers taste begin to change.
Business world on the other hand, should do their job by complying with the regulations and operating profitably at the same time. However in my opinion, I do think that companies have a responsibility to pursue social good. Business corporations are the one and only biggest organization and also the most powerful entity to be able to influence and offer social good towards the society.
Leadership transforms the potential into reality. The better the leader the better the employees and both the leader and the employees together make the better product that will increase sales and generate profitability. Leadership must be put in place in order to get things done. Leadership can be linked to team work as managers must influence the team for work accomplishment through leadership. If management fail to provide leadership within an organisation employees may come into conflict
According to Fleming (2012), the company is increasing its long term business prospects which may aid its customers to gain social and economic goal. It is identified that the company has looked up its competitive benefit and examine its philanthropy efforts by the most effective way. According to Geppert et.al (2014), this means company is socially responsible and associated to environmental practice which can also lead to a strong customer and sales loyalty. This may enhance the productivity and quality of the company’s product which retain and attract its workers in order to reduce the regulatory
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.”
We find it more beneficial to focus on the stakeholders because down the road we must ensure that we continue to increase profits. If the company is still able to create revenue, the company should keep higher positions in order to ensure a smooth order of business and job stability. It is important to think of the community and the primary stakeholders when proposing a business plan because their positive outlook of Chocoholics Anonymous is needed to create a profit. In a discussion written by Waldkirch, he discusses the models of shareholders and stakeholders. He responded that the shareholder’s model was not as strong as the stakeholder’s model because “Corporations cannot be successfully managed in the long run against the interests of its stakeholders” (Waldkirch, 2008, p. 7).
A reward for ethical behavior The ethical behavior must be recognized and appreciated and at the time it must be awarded. So it can promote ethics in other employees. Conclusion Ethics in business and in corporate culture has become a critical issue for many companies.
(Seow, 2009, p. 202). Being forced to comply with regulations is a useful motivating factor for senior managers when it comes to maintaining a continuity plan. The benefits of partaking in a continuity plan also appeal to management when examples of good management practice are established. A huge core motivator for business continuity is its ability to trigger an advantage over competitors by having the ability to become more reliable than other organizations in the event of an outage. “When disaster strikes, the organization that is better prepared to meet delivery deadlines and customer expectations through more resilient operations and that is better able to recover quickly clearly has the advantage.”
I believe that people are a major asset for any business organization because this model describes the importance of stakeholders, leadership and employees for the organization. That is the main reason why this model would suit me. To conclude I will work hard to change and organization successfully.
However, Chipotle’s leaders believe that the company has engendered greater trust among its customers and this is something that promises to pay huge dividends down the line. For example, managers In addition, the integrity of the company also is important for every business nowadays. It is one of the most sought-after qualities not only of individual employees, but of companies.