...adjust and bends due to unpleasant and stressfull circumstances. For example, one of the most ethical individuals may change how or why they do something if they are pressed for time, or if they are overwhelmed, or overly un happy. (Stealing may become borrowing because at that moment the believe they will return it.)Aspects of a managers work environment that will be discussed which can lead to unethical decisions include Economic prosperity, Technological and competitors. Economic prosperity refers to a thriving condition, especially in financial terms in which the overall business has access to a sufficient supply of resources and is generating enough income to maintain such a supply. Most Management decisions are catered towards building or maintaining large income flows in order to sustain or allow for business expansion. As a result Unethical decisions may result as unethical choices may offer certain shortcuts towards income gains that ethical choices may not provide (Awasthi Vidya 2008). For many businesses a popular way to fulfil profit maximisation is to partake upon expense minimisation schemes, as consequences many businesses choose partake on unethical activities such as outsourcing, downsizing, and...
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...in India, we believe that with community prosperity, increased infrastructure, and growth, the need for child labor will disappear. We do not feel that Bayer should directly invest in creating schools for children or water treatment facilities, as these activities are clearly outside the bounds of Bayer’s expertise. We feel that there is a natural progression in prosperous societies to move away from child labor, as has been the case for most western nations in the last century. Although Bayer had been in India for over 100 years, its cottonseed business there was quite young. Bayer acquired Proagro Seed Pvt Ltd in 2002. Even though many companies in the country considered child labor “business as usual”, Bayer had a zero-tolerance policy for it, which was underscored by its corporate mission statement. After Bayer was named in a report produced by the India Committee of the Netherlands, which was the result of an investigation on child labor in India, the company found itself in a difficult position. Roughly 6% of Indian children between the ages of 5 and 14 participated in the labor force, accounting for 20% of India’s economy. Bayer could either exit the cultivating industry in India or develop a solution to the problem. Cotton seed production was a profitable activity for both Bayer and the farmers. Eliminating child labor would be an uphill battle in that cheap labor was the only leveraging tool available to create profit for farmers. Regulating the activities of...
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...satisfies their material well-being, and generates a wide spectrum of prosperity. Exposition As citizens of the United States, we are members of the leading capitalist economy in the world. Our production and distribution is mostly done privately and we operate in a “profit” or “market” system. The capitalist system has been a target for criticism throughout the last three hundred years and is being discussed now more than ever due to the recent recession and financial crisis (Shaw and Barry n.d., 1). Its effects, structure, varieties, and possibilities provide for a large field of study and writers from several different disciplines have provided their input to the debate. Most fundamental is the question of whether our capitalist system is a morally justifiable one. This question can’t be answered by reviewing the efficiency and productivity capitalism provides, but instead requires a thorough analysis of ethics. A capitalist society is characterized by the private ownership of property and a free market that grants citizens the right to use their resources for their own benefit. Private property is the ownership of productive resources like companies, stocks, and bonds and should not be confused with personal property. Personal property consists of non-productive items like cars, clothes, and houses (Bishop 2000, 4). The free market in capitalism is one where supply and demand are able to operate without government regulation. Suppliers have the freedom to control things...
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...Should managers manage the employees soul? Are managers seeking to manage employee’s body for their benefit or do they really have the employee’s wellbeing in mind? It would be nice to assume that managers are seeking control for purely the employee’s benefit, but that is not always the case. Over the years, managers of every small and large organizational structure have implemented ways to control their workforce and get the best possible result out of them in order to maximize the profits of the firm. From F.W. Taylor’s “Scientific Management” techniques back during the industrial revolution to todays “Corporate Culture” world, managers are still striving towards managing the worker in the most efficient way. The principal object of management should be to secure the maximum prosperity for the employer, coupled with the maximum prosperity for each employee (Taylor, 1988, The Principles of Scientific Management, p. 1). The methods introduced by Taylor to achieve this maximum prosperity was inhumane, he ignored the soul of the worker, which led to strikes and other industrial action to be taken by workforce. Moving on to Corporate Culture, put in simple words, ‘It’s the way we do things around here’ (Deal and Kennedy, 1982). The culture is conveyed to its participants through the expression of sentiments, beliefs, and attitudes (Pleffer, 1981). The managers are responsible for integrating the desired culture into the organization. The manager becomes an evangelist, someone...
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...School of Business and Finance, Riga, Latvia K.Valdemara iela 161, LV-1013 E-mail: abrivere@td.lv Abstract: The objective of human actions eventually is prosperity – happiness for all the people. Prosperity is constituted not only by individual wealth but by the environment as well. A typical misunderstanding in the public opinion in Eastern Europe, and particularly Latvia, is overly narrow understanding of the concept of environment – only as the nature environment. This leads to overly narrow understanding of green economics and thereby not sufficient measures of public policy. The paper deals with overview of environmental changes in Latvia during the period of last twenty years, paying attention to social, legal, political, economic and cultural environment herewith the nature environment. The efforts to measure the state of these environments with quantitative measures, usually scalar measure for each aspect of environment (like Gini index for social environment) are not sufficient to make such kind of conclusions like Kuznet’s curve hypothesis. The idea of Kuznet’s curve is discussed, paying attention to structure and pace of economic growth, considering both social and ecological aspects, empirically based on case of Latvia. The possible ways of solution for the problems, which threaten prosperity, are discussed opposing globalization to localization. The main belief is that the problems, which prima facie do not have solutions in globalization, can be solved...
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...The Booming Roar of The Canadian 1920’s Many Countries go through the business cycle throughout their history, and prosperity is the part of the cycle that truly roars. In 1920’s, Canada, the great prosperity roared, and it was great for all. Everything in Canada roared by 1924 and life was extremely satisfying for the average Canadian, as quality of life was at an all- time high. The future for Women began to appear to be very bright as they made many big steps for the purpose of women’s rights. There was a great deal of women who began to get involved with government. Therefore, the Canadian government recognized the change beginning, and the growing number of women who were starting to make a stand for their rights, and consequently creating...
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...purpose of their jobs is. The doctor immediately responds that he wants to help people and save life. The lawyer takes over and says he fights for justice and equality but when it comes to the businessman to answer the question - he remains silent. Would a normal businessman have been able to give readily a precise answer as to the purpose of business? Would he have said is it all about money and making profit? Or would he have answered like Peter Drucker that the customer should have the highest priority in business life and everything should be done to satisfy him1. Or would he have responded like Dave Packard once said: “I think many people assume, wrongly, that a company exists simply to make money. While this is an important result of a company’s existence, we have to go deeper and find the real reasons for our being...” 2 These quotes describe very well the difficulty in answering the question what the purpose of business is and the need for detailed analysis. As everybody is affected and surrounded by business every day, and since one can hardly imagine a world without business, it is crucial to know its purpose. Therefore it is the objective of this paper to examine in greater detail the nature and purpose of business and to demonstrate its importance to the whole world. “A business is any enterprise which makes, distributes or provides any article or service which the other members of the community need and are able and willing to pay for. “ 3 This is one of an abundant...
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...discussion. I think that his points are far too fantasized to be considered as something real and tangible. Although it would be nice to think that a globalized economy will bring about a rise in productivity and eventual prosperity for all, it is irresponsible to believe that the United States should be the forerunner in developing new technologies, and improve education in order to meet those rising standards in development. When Taborrok says, "The US educational system is the candle for others to light their flames", he leaves out that the United States of America is not even in the top rankings of education throughout all countries in the world. I disagree with this point. I, along with many other people, agree that our educational system is in complete shambles. Our children are forced into a standardized curriculum that doesn’t efficiently prepare them for the real-world. It also does not encourage problem-solving behavior. They completely glaze over issues such as taking care of ourselves by eating right, which is the cause for the nation-wide epidemic of obesity and disease. We have far too many of our own problems that need to be dealt with in our educational system for us to be considered the light that will shine the way into everlasting prosperity. If the globalized world comes to us for our education, than we will just increase our problems and spread them outward among others in the world which would essentially create a system of challenges and problems not growth...
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...Mohammad Ali Professor Kenneth Bullock Introduction to Business 22 October, 2014 Article Summary (Harvard Business Review) Profits without Prosperity Though corporate profits are high, and the stock market is booming, most Americans are not sharing in the economic recovery. While the top 0.1% of income recipients reap almost all the income gains, good jobs keep disappearing, and new ones tend to be insecure and underpaid. One of the major causes: Instead of investing their profits in growth opportunities, corporations are using them for stock repurchases. Take the 449 firms in the S&P 500 that were publicly listed from 2003 through 2012. During that period, they used 54% of their earnings—a total of $2.4 trillion—to buy back their own stock. Dividends absorbed an extra 37% of their earnings. That left little to fund productive capabilities or better incomes for workers. The buyback wave made the shareholders worried because in the wake of the financial crisis, many companies have shied away from investing them in the future growth of the companies. Many companies have cut their capital expenditure and increased the debt to boost their dividends and increase share buybacks. Massive resources being devoted to stock repurchases. Why are such massive resources dedicated to stock buybacks? Because stock-based instruments make up the majority of their pay, and buybacks drive up short-term stock prices. In general, when a company buys back shares at what turn out to be...
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...Miners would spend their free time gambling, and playing card games such as poker. Though the miners may have won a few times, in the end, they would lose the majority of their profit. According to J.S. Holliday, “Men would make and lose thousands in a night & frequently small boys will go up and bet $5 or $10.” This quote from J.S. Holliday shows that even those who managed to find a gold deposit would sometimes be plagued by a gambling addiction. Even young children would go into town and gamble away their profits. The lack of morals and restrictions allowed the miners to gamble as much as they wanted. As a result of this, the miners’ original image of California was ruined, and proved to be a very corrupt, unethical environment. This gambling would also affect those who had never gambled, and never intended to. Those who gambled would steal from those who didn’t and it ended up affecting everyone. JS Holliday also explains that during the prime years there was a great deal of wickedness, including lying, stealing, gambling, and murdering. This piece of evidence from JS Holliday portrays...
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...the most significant and pervasive contemporary trend. Humanity is moving from a set of relatively autonomous nation states to an integrated global reality, more ruled by international corporations and organizations, and economic and ecological interdependencies, than national and political ideologies and issues. Fueled by global communication, technological networking, expanding transportation systems, economic exchange and competition, and the growth and spread of a global culture, globalization is seen both as a positive and as a negative trend. What are the main features of globalization, what are the future possibilities, and how will globalization have an effect upon your individual life? Outline “Nothing will be done anymore without the whole world meddling in it.” Paul Valéry The History of Globalization Positive Images of Globalization Imbalance, Diversity, and Conflict: The Problems of Globalization Global Tensions, Challenges, and Evolution for the Future Howard Bloom – The Deep History of Globalization – Reciprocity and Conquest Global Communication and Networking of Life Global Expansion of Humanity Emergence of Cities and Trade Routes Reciprocity and Conquest Robert Wright The Evolution of Win-Win Reciprocities in Human History The Expansion of Economic Interdependencies and Exchange The Expansion of Communication Networks Cumulative Evolution of Civilizations John Naisbitt Globalization and Individualism Increasing International...
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...standards of living, while socialist or communist countries have the least economic freedom tend to have the lowest. In fact, country like the United States generated unparalleled ability to produce wealth, raise the general standard of living, and provide goods and services in a society. Careful study of the long list of countries, and analyze each government system, viewer should see a trend that when too much government intrusion hinders the economic progress that occur every day and will ultimately lead to economic slowdown. “If a government limits its involvement in economic activity, so as to maximize opportunities for individuals to reach their full economic potential, then it will be on a path leading to the greatest levels of prosperity and human well-being for society as a whole” (Miller, Holmes, Kim, 2009). With the...
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...his 26-years of career, he worked at Midvale Steel, Simonds Rolling Machine and Bethlehem Steel companies, and performed a large number of experiments in this practice of management. [ (Chyung, 2005) ] Principal Object of Management/Leadership Taylor, in his book “the Principles of Scientific Management” stated that “The principal object of management should be to secure maximum prosperity of the employer, coupled with the maximum prosperity for the employee.” [ (Taylor, 1911) ] Problem Statement Presented by Taylor Taylor examined and described the inexcusably inefficient work practices in the steel industry, which he found during his career. He reported a number of criticisms of managerial skills; some specific criticisms are as follows: [ (Thakur, 1998) ] * Workers were employed on the basis of a first-come, first-hired policy without keeping into concentration the ability and skills of worker. * The training, provided to workers, were completely disorganized, which uses only basic apprentice systems in minimal extent. * Tasks were done through a general rule-of-thumb without any defined standard times, method, or motions. * Workers themselves defined machine speed and workspace. * Nearly all workers determined their work and most of the responsibility for that work themselves. * Managers worked along with the workers, while ignoring their basic managerial functions and responsibilities, such as planning and organizing the work. * The...
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...How far were the policies of the Republican Party the main reason for America’s economic success in the 1920’s [50 marks] Although America remained neutral and did not join World War One until 1917, they were already increasing their country’s profits by selling goods such as: weapons, food, equipment and other ammunition to both sides of the war. During World War One, as well as selling goods, America became ‘the banker’ to the rest of the world: loaning countries money at a very high interest. According to the First World War commissions “Britain, France and Italy owed the USA $22 billion plus interest”, this is showing that USA was at a very stable place financially even before the 1920s began. When the war ended Woodrow Wilson put forward his 14 Points which included a League of Nations. The League of Nations’ overall aim was to prevent war from breaking out again. America’s congress at the time decided that it would be best for America in the long run not to join the League of Nations because, congress believed that the USA should not interfere in any European or world affairs. Refusal to join the League of Nations made America an isolationist country. When Warren G. Harding won the presidential election and became president in 1921 a political party called the Republicans took over from the Democrats and the American government. 1920s America was known as the ‘Roaring twenties’ because of the entertainment and the crazes sweeping the country. There were lots of...
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...Explain the main differences or similarities between Scientific Management and Human Relations. Maximum efficiency and prosperity are always a part of employers' goals, as having these main goals can led to a better working environment, and employees can be paid better. So psychologists and management experts started to observe workers' behaviours when placing them into different working environments, e.g. putting a lazy worker beside a hardworking one, changing the factory's setup everyday, etc, just to see if their productivity would increase or not. Frederick Taylor invented Scientific Management in order to make a factory more fluent and smooth on producing products, thus maximising the profit. Taylor (1911) stated that the main objective is to foster each worker's efficiency, and arranging the most suitable job to meet the worker's natural ability. Meanwhile, Elton Mayo invented Human Relations Movement to boost workers' motivation, thus maximising their productivities. Hollway (1991) mentioned that Mayo undertake his experiments in Hawthorne Electric Plant in the USA, and so, it's also called Hawthorne Effect. Similarities between Scientific Management and Human Relations approach are obvious, that are to maximise a factory/ firm's productivity. Taylor focused on maximum prosperity, which means that not only to maximising the productivity, but employers also have to pay higher wages to employees. Taylor (1911) showed that most interests between employers and employees...
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