...Business Ethics: Case Study 2: Starbucks’ Mission: Social Responsibility and Brand Strength 1. Why do you think Starbucks has been so concerned with social responsibility in its overall corporate strategy? Starbucks has been so concerned with social responsibility because of the reduce its Eco-friendly mark and as became tangled with the community. Also it is important to the corporate because of its ethical corporate should improve in the stretched period of time. Consumers’ feels worthy about conveying business to social responsible companies and the organisation’ impression are good about working there and makes organisation provide much better consumer service. 2. Is Starbucks unique in being able to provide a high level of benefits to its employees? Starbucks is irreplaceable in actually able to offer a high level of benefits to its organisation. Many businesses do not deliver organisation with many profits. Starbucks understands how important its organisation is and that they are the face of the corporate. Happy organisation creates good consumer service understandings and repeat business. It seems like a lot of businesses oversee their internal consumer too often. 3. Do you think that Starbucks has grown rapidly because of its ethical and socially responsible activities or because it provides products and an environment that consumer want? Starbucks express growth is exceptional to both its ethical and socially accountable activities and it providing products...
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...Errol A Lane Business Class ethics Describe at least two reasons for studying business ethics * Improve the Reputation of Your Business (One significant practical effect from studying business ethics and applying then to your business is an improvement in the reputation of your business. These things take time, but word of mouth is a powerful force in society, and having friends and neighbors talking about how you treated them right is the best advertising a business can have). In studying business ethics we find a lack of good business ethics what ar you saying when using that word * (Ethics or moral philosophy is the branch of philosophy that involves systematizing, defending, and recommending concepts of right and wrong conduct. The term ethics derives from the Ancient Greek word ἠθικός ethikos, which is derived from the word ἦθος ethos (habit, "custom").) a goof reputation derives form a good business acumen which make for better business ability and reputation. When you learn you do better, you think better and you will be better Become a Better Businessman and Human Being Being (Studying business ethics changes outlooks and influences behavior. Ethics provides a set of terminology and a conceptual framework with which you can think and talk about ethical issues. Studying business ethics will help you weigh the potential consequences of your business decisions, and it will teach you to make moral distinctions and avoid common fallacies...
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...match its greatest strengths, with external factors to create opportunities. When assessing opportunities to acquire a new business unit, firms should only seek to acquire units that have strengths that match, enhance or can be combined with the firms established strengths. The article [which? there is no list of references -- you’re supposed to discuss an issue from class before discussing the article] is about how firms are purchasing business units that do not align with their strengths or the vision/mission of the parent corporation. Once the business unit is acquired the viable option is to sell if off in pieces because it is not contributing to the corporations strengths. We agree with the author [sp] premise that diversification should not be pursued unless it will help a parent corporation achieve its already established mission. Corporations should avoid acquiring firms that possess strengths or missions not aligned with the parent corporation. A firm should not see purchasing business units as strength [clumsy]; a corporation’s strength is not an action. A corporation should see the reason why they have accumulated the financial resources necessary to purchase additional business units as their strength. Once that strength is identified the corporation should be pursing business units that have underlining strengths that will enhance the parent corporations [sp] ability to pursue their mission and maximize opportunities via their established strengths. In the same manner...
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...the scene for your business idea. To do this you need to carry out research into what makes a business successful. Topic B.1 How business ideas can be successful – listed below are features ● Finding innovative solutions, e.g. Dyson ● Meeting customer needs, e.g. products or services, filling a gap, doing it better than competitors ● Identifying new needs, e.g. mentoring and coaching, using digital media (such as social networking websites) ● Being entrepreneurial – ideas of recent entrepreneurs, e.g. Tanya Budd, Mark Zuckerberg ● Importance of having a strong vision and seeing it through, e.g. Apple ● Measures of success, e.g. financial, social, customer satisfaction Research at least four businesses in the local area. For each of the four businesses, describe the business and the features that make them successful. Business name and description of the area it is in | Description of business | Features that make the business successful | Nike SU1106-08, The Street, Westfield Stratford City, London E15 1AZ | NIKE, Inc. founded on September 8, 1969, is engaged in design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. NIKE is a seller of athletic footwear and athletic apparel across the world. | NIKE keeps their business running by providing customers with the latest shoes and brands in stores and online such as the Jordan’s, Kobe’s and the Lebron’s.They also keep their business afloat by hosting seasonal...
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...1.SWOT Analysis The SWOT analysis is a business analysis technique that your organization can perform for each of its products, services, and markets when deciding on the best way to achieve future growth. The process involves identifying the strengths and weaknesses of the organization, and opportunities and threats present in the market that it operates in. The first letter of each of these four factors creates the acronym SWOT. As a manager, your role in any strategic planning is likely to involve providing operational data to help assess the internal capabilities, and (depending on your job function) you may also be asked to provide market intelligence. The completion of a SWOT analysis should help you to decide which market segments offer you the best opportunities for success and profitable growth over the life cycle of your product or service. The SWOT analysis is a popular and versatile tool, but it involves a lot of subjective decision making at each stage. It should always be used as a guide rather than as a prescription and it is an iterative process. There is no such thing as a definitive SWOT for any particular organization because the strengths, weaknesses, opportunities, and threats depend to a large extent on the business objective under consideration. KEY POINTS 1. SWOT Analysis provides information that helps in synchronizing an organization’s resources and capabilities with the external environment in which the organization operates. ...
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...As a food service company, Five Guys has its own strengths that could see them increase the influence it has in the world market over the other companies. First of all, it has more than seven hundred locations in forty different states and even in four Canadian Provinces (Weise, 2011). An extensive network of a business and its operations is strength in accordance to what their competitors present. They offer a wide variety of foods and drinks in regard of their competitors. Moreover, funny enough, the company offers free peanuts while clients wait for their orders. They have the president’s stamp of approval. The information they provide on the type of foods they produce is equally strength for the company. Five Guys’ Weaknesses All businesses have their strengths and weaknesses. In order to survive and be successful, business should try as much as hard to ensure that their strengths are more than their weaknesses. This increases the chances of succeeding. In the context of Five Guys, the company seems to concentrate more on the production of fries and burgers maximally in disrespect to other kinds of food services (Weise, 2011). For instance, fries are considered to be a health hazard given the amount of fats it increases to the body. Hence, the company should also increase the provision of other types of foods in line with the burgers and fries. Opportunities for Five Guys While engaging in business activities, one should be able to discover the opportunities in the macro...
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...assignment is to analyze and review the performance of jerry’s advertising business and to help him identify his company’s strength and weakness as a experienced business executive. His business strength and weaknesses is being analyzed and a plan of action is taken into recommendation to exploit on his company’s strength to overcome his weaknesses. Task 1 Reviewing the performance of Jerry’s Business Jerry focuses only of opening his daily, because it is in early stage. But once his business is established and running well, he may be inclined to let things continue to run as they are. However, it's actually time to plan again. After the crucial early stages, he should regularly review your progress, identify how you can make the most of the market position you've established and decide where to take his business next. He will need to revisit and update his business plan with his new strategy in mind and make sure his introduce the developments his noted. This guide takes him through this essential process, detailing the stages he should go through to assess how well his business is performing, highlighting his strengths and areas that could be improved and suggesting the actions you need to take to implement the improvements that his identified. I’m reviewing Jerry’s business from how he feels: * Unsure on how is the business is performing * unsure if he’s getting the most out of the business * Making the most of market opportunities * Is his...
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...How can firms use models of analysis to understand their business environment? Discuss using appropriate examples. Organizations can use one business analysis model to analyse a section of its business or combine this with other business models to help them in the strategic planning process to gain a competitive advantage in today’s fast changing markets. SWOT and TOWS are acronyms for strengths, weaknesses, opportunities and threats. SWOT (internal-external) provides a checklist of strengths, weaknesses to minimize, uncover opportunities to take advantage of and identify threats to avoid. Whereas the TOWs matrix is (external-internal) matching internal strengths and weaknesses with external opportunities and threats provides a more in depth look at your company’s standing in its current market and gives an understanding of your competitors. External Opportunities (O) External Threats (T) Internal Strengths (S) (SO) Maxi-Maxi Strategy Use strengths to create opportunities (ST) Maxi-Mini Strategy Use strengths to minimise threats Internal Weaknesses (W) (WO) Mini-Maxi Strategy Minimize weaknesses to take advantage of opportunities (WT) Mini-Mini Strategy DEFENSIVE Minimize weaknesses and avoid threats It is important to use verifiable statements such as “Opportunities to save $10M in changing supplier” rather than “Opportunities to save will be good if we change supplier”. If the business is small it is important to know the risks and limitations in using...
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...what extent do you think that SWOT analysis are translated to reality and made real? Many managers and academics criticize or don’t even recognize the SWOT Analysis as a serious tool. According to many, it is a ‘low-grade’ analysis. Here below are the main flaws identified: * Excessive lists of strengths, weaknesses, opportunities and threats; * No prioritization of factors; * Factors are described too broadly; * Factors are often opinions not facts; * No recognized method to distinguish between strengths and weaknesses, opportunities and threats. Therefore the following guidelines in my opinion are very important in order to be able to do a successful SWOT analysis. These guidelines eliminate most of the above-mentioned SWOT limitations and improve its results significantly: * Factors have to be identified relative to the competitors as this allows you to specify whether the factor is a strength or a weakness. * List between 3 – 5 factors for each category. This prevents creating too short or endless lists. * Factors must be clearly defined and made as specific as possible. * For example, firm’s strength is: strong brand image brand image valued at $10 billion, which is the most valued brand in the market (very good). * Rely on facts not opinions by finding external research analysis information and/or involve people who could provide an unbiased opinion. * Factors should be action orientated....
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...employees, employee interaction with management, manager interaction with other managers, and management interaction with shareholders. In addition, discussions, interviews, and surveys can be used to analyse the internal environment. Organizations also need to analyse the external environment. This would include customers, suppliers, creditors, and competitors. Several questions can be asked which may help analyse the external environment. It examines the company’s relationship with its customers and its suppliers. It also seeks to find out if the company have a good rapport with its creditors, if it’s actively trying to increase the value of the business for its shareholders and who the competition is. Strategy Formulation Strategy formulation involves designing and developing the company strategies. Determining company strengths aids in the formulation of strategies. Strategy...
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...beginning a new business, there are several factors need to be taken in account however, one of the most important factors is conducting a SWOT analysis. SWOT is an acronym that stands Strengths, Weaknesses, Opportunities and Threats. “A SWOT analysis is an organized list of your business’s strengths, weaknesses, opportunities and threats. (Berry, 2014) Strengths and weaknesses represent the internal factors of the company while opportunities and threats represent the external factors. In the following a SWOT analysis will be conducted on a new proposed messenger company Metro Express. The analysis will be a part of initial planning process and determine what is unique about the company in addition to what is needed to sustain the business and meet mission and vision statements. Introduction Metro Express is messenger company that focuses on small and mid-sized businesses that need errands ran for them and we would provide the service. Metro Express will provide a different number of services that range from picking and delivering packages, relocating offices and removal office equipment. Our customers that experience the everyday stress of running a business will experience that our services will give them one less task to worry about. Requirements for Starting the Company In order for Metro Express to get started, there are some requirements that must be met. The first thing needs to happen is to acquire a license to do business in the state where the business will operate...
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...WHAT IS SWOT ANALYSIS? SWOT analysis (alternately SWOT Matrix) is a strategic planning method used to evaluate the Strengths, Weaknesses/Limitations, Opportunities, and Threats involved in a project or in abusiness venture. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favorable and unfavorable to achieve that objective. The technique is credited to Albert Humphrey, who led a convention at the Stanford Research Institute (now SRI International) in the 1960s and 1970s using data from Fortune 500companies. Setting the objective should be done after the SWOT analysis has been performed. This would allow achievable goals or objectives to be set for the organization. Strengths: characteristics of the business, or project team that give it an advantage over others Weaknesses (or Limitations): are characteristics that place the team at a disadvantage relative to others Opportunities: external chances to improve performance (e.g. make greater profits) in the environment Threats: external elements in the environment that could cause trouble for the business or project Identification of SWOTs is essential because subsequent steps in the process of planning for achievement of the selected objective may be derived from the SWOTs. First, the decision makers have to determine whether the objective is attainable, given the SWOTs. If the objective is NOT attainable a different objective must...
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...advance a dream and a method that connection the two. We have to weave together our comprehension of our conglomeration and our movements to advance a destiny. The motivation behind the Swot dissection is to give informative content on our qualities and shortcomings in connection to the chances and dangers we confront. When the Swot dissection is lacking nothing, it will then be a great opportunity to assemble everything and look nearly to structure a methodology. This will include how you can abuse the Opportunities and how to take out or manage the Threats. This may well hinge on upon your association's unique destinations and objectives yet the entire methodology will surely give a general take a gander at the present position of your business. You may contend that you can make a record in your mind about the regions that make up your dissection and that no profit could be determined from a Swot activity. Attempt a fast record with the four regions and recognize where one territory effects on another. Provided that you discover one occurrence that is a present issue, you might then have reason to finish the full examination....
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... 2.1 How SWOT analysis prevents weaknesses and maintains strength 4 3.0 How SWOT analysis reflects the basic strategic management 5 Conclusion 7 References 7 1.0 INTRODUCTION 1.1 Overall description of SWOT analysis SWOT analysis is an analytical method which is used to identify and categories significant internal (Strengths and Weaknesses) and external (Opportunities and Threats) factors faced either in a particular arena, such as an organization, or a territory, such as a region, nation, or city. It provides information that is helpful in matching the firms' resources and capabilities to the competitive environment in which it operates and is therefore an important contribution to the strategic planning process. It should not be viewed as a static method with emphasis solely on its output, but should be used as a dynamic part of the management and business development process. Strategic planning depends on a clear understanding of your organization’s resources and Capabilities, as well as critical ingredients that are lacking. The assessment of organizational Strengths and weaknesses and opportunities and threats must be candid, open, thorough, and reflective. It should not be superficial, with the usual statements about “good, committed staff” or “community good will…” It may be that strengths are also be weaknesses. 1.2 Overview of the elements of the SWOT analysis a) Strengths Strengths are the qualities that enable firm to accomplish the organizations...
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...February 23, 2014 Dr. Terry Hibbler In order for a start-up business to be successful, it should perform a SWOTT analysis which refers to strengths, weaknesses, opportunities, threats, and trends. SWOTT analysis is the process of management identifying the internal and external factors that will affect the company’s future performance. It is a planning process in which financial and operational goals are set for the upcoming year and creating strategies to accomplish these goals. The following are the internal and external factors that affect McCain’s Fabulously Tasting Gourmet Food Truck. External forces Legal and Regulatory Strengths Weaknesses Opportunities Threats Trends The food truck follows all sanitary practices in compliance with food handling. And is consistently examined for cleanliness and clearly posted. There are always new laws and regulations in regard to food handling. The business must continue to stay abreast of new regulations. The Food Truck has an excellent reputation due to cleanliness and adhering to legal and regulatory requirements, thereby allowing growth If the Food Truck should not comply with a new regulatory requirement, the fine could be stiff and decrease profit and stakeholder’s investments. Trending will involve keeping abreast of legal and regulatory requirements and ensure the Food Truck is up to date with these trends. Economic Strengths Weaknesses Opportunities Threats Trends The food truck has a large collegiate...
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