...responsibility and managerial ethics You may be wondering, “Why should I care about corporate social responsibility or managerial ethics or whether or not my employees have health care benefits? Aren’t these the types of issues philosophers worry about?” To answer this question, you only need to pick up a recent newspaper or business magazine. Everything from Wall Street trading scandals to accounting frauds at AIG, Lehman Brothers, Enron, Parmalat, Satyam, WorldCom, Tyco, and Global Crossing to corporate cover-ups and massive oil spills from British Petroleum’s offshore drilling rig explosion in the Gulf of Mexico seem to be in the press daily. For example, Citicorp lost billions in market value when it was revealed that a group of traders in the firm’s London office had manipulated the bond market: A small set of traders disrupted the European bond market by placing 188 sell orders simultaneously (approximately $20 billion worth of bonds) on August 2, 2004 in about 18 seconds. This drove the price of bonds, in general, down dramatically. The prices continued to drop even after the Citibank traders stopped selling. Just a few minutes later, the same traders then bought the bonds back at much cheaper prices than they had been sold. This new buying triggered buying by other traders, and prices rose. In the process, Citibank traders made about $20 million in profits in under five minutes. Although the employees did not do anything illegal, their behavior was deemed...
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...Canadian Social Science Vol. 6, No. 5, 2010, pp. 102-123 ISSN 1712-8056 [Print] ISSN 1923-6697[Online] www.cscanada.net www.cscanada.org The Effect of Reward System on Job Satisfaction in an Organizational Chart of Four Hierarchical Levels: A Qualitative Study L'EFFET DU SYSTÈME DE RÉCOMPENSE SUR LA SATISFACTION AU TRAVAIL DANS UN ORGANIGRAMME DES QUATRE NIVEAUX HIÉRARCHIQUES: UNE ÉTUDE QUALITATIVE Ekaterini Galanou1 Georgios Georgakopoulos2 Ioannis Sotiropoulos3 Vasilopoulos Dimitris4 Abstract: Rewards systems are one of the most significant issues of the human resource management. Throughout the literature, it is obvious that theorists and academics, as well as practitioners and managers emphasize the important factor of rewards. Additionally, job satisfaction is another crucial term within the same body of literature. Job satisfaction is likely to provide employees of all levels with feelings of fulfillment, achievement and even pleasure for their job. Thus, such feelings can make people more productive, creative and therefore more profitable for the organization. Furthermore, feelings of job satisfaction can strengthen the commitment and loyalty of employees with the organization, which is very necessary in present times where all firms are looking for competitive advantage and especially through their people. The objective of this study is to examine the correlation of the rewards systems and job satisfaction, based on a qualitative research. An attempt is also...
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...their father’s rather spontaneous and unpredictable compensation style into a more professionalized and transparent approach. This gave rise to the LEAP plan which will be discussed in detail during the course of this case study. While certainly being more sophisticated than the earlier compensation practices, two executive employees, Bruce Henderson and Martin Wong, did not fully agree with the overall concept of the LEAP plan. As part of the “Before You Move” subsidiary, they are in charge to manage a rather dynamic and unpredictable business which requires a high degree of entrepreneurial spirit and creative leadership. To better align the compensation plan to the specific circumstances of this particular business, they bring forward a counter proposal which is would result in a partial ownership of equity after having achieved the set goals, which differs from the initial LEAP plan where the compensation would result in cash payments. The main challenge for The Cross Country Group is to identify the most suitable compensation plan that both satisfies the employees and the owners while representing an effective incentive system to achieve the company’s strategic objectives. Question 1: Evaluate the strengths and weaknesses of the LEAP plan The following points summarize the main...
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...Shareholders Watchdog, Inc. 777 Wall Street New York, NY 10005 December 7, 2011 RE: Is CEO Compensation Fair? Dear employee, Accompanying this letter is our completed report that discusses the issue of the fairness of current CEO compensation. Although there are two sides of this argument, recent legislation and regulations for reform tend to support those who believe it is unfair. We have evaluated the current standards of CEO compensation and examined why both sides think they should prevail. There are some advantages that strongly support CEO’s huge salaries, including the following: * Provides incentives and motivates the CEO to obtain or surpass corporate objectives * Retains key-value leaders for the long-term, resulting in consistent corporate success * Creates a strong CEO confidence for him/her to reinvest in the corporation (bonds) Our overall research indicates that CEO compensation does not reflect actual performance in most cases. Many CEO’s are grossly over compensated (including stock options, bonuses, hedge funds, and other benefits). The “Golden Parachute” guarantee adds insult to injury. Based on our research, conducted from the UNLV Library periodicals database and online sources, we recommend the following: * Require corporations to adhere to sections 951, 953, 955 and 956 of the Dodd-Frank Bill * Maintain a collective (“Esprit de corps”) work force environment for all employees * Consult third party professional...
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...Chapter 1- The Pay Model Compensation: Does it matter? Compensation is one of the most powerful tools organizations have to influence their employees. General Motors (GM), like Chrysler, has, for decades, paid its workers well—too well perhaps for what it received in return. Having labor costs higher than the competition, without corresponding advantages in efficiency, quality, and customer service, does not seem to have served GM or its stakeholders well. On the other hand, Nucor Steel pays its workers very well relative to what other companies inside and outside of the steel industry pay. But Nucor also has much higher productivity than is typical in the steel industry. Wall Street financial services firms and banks used incentive plans that rewarded people for developing “innovative” new financial investment vehicles and for taking risks to earn themselves and their firms a lot of money. Troubled Asset Relief Program (TARP), which included restrictions on executive pay designed to discourage executives from taking “unnecessary and exces-sive risks.” In an opinion piece in The Wall Street Journal, entitled “How Business Schools Have Failed Business,” the former director of corporate finance policy at the United States Treasury wrote that “misaligned incentive programs are at the core of what brought our financial system to its knees.” 7 He says that we “should ask how many of the business schools attended by America’s CEOs and directors educate their students about the...
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...financial details on the green initiative, it says the program is already saving money and resources, and it projects billions in savings over time.1 Ethics and Corporate Responsibility Hear the True Story of how today’s managers do the right thing. Listen to what Derrick and Elaine have to say. “Ethics are crucial in the property management business. We are obligated to abide by fair housing laws in our dayto-day operations. Not only do we have an obligation as a company but also a social obligation to make sure our vendors and contractors are aware of these practices.” “The very nature and mission of my project is that of social responsibility. We are trying to do our part to help out developing countries in a way that an agricultural library is best equipped to do. Good workplace ethics translates into a better product for our subscribers. The better I and my employees perform, the better our product and the most useful it is to the end users, thus furthering the idea of social responsibility.” — Elaine Guidero, Library Manager — Derrick Hawthorne, Property Manager bat37233_ch03_050-071.indd 50 11/11/09 11:01:08 AM Confirming Pages WHAT YOU NEED TO KNOW ●● learning OBJECTIVES After studying Chapter 3, you will be able to: LO1 LO2 Explain how...
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...Department of Management EMBA 7th Batch Studies Major: Human Resource Rajshahi University Management Rajshahi University Date of Submission: Letter of Transmittal Date: Mr. Dr. Md. Saiful Islam Professor Department of Management Studies Rajshahi University Subject: Submission of Internship Report Sir, It is my great pleasure to submit the internship report titled “Human Resource Policies and Practices of IFIC Bank Ltd.” which has been prepared as an integrated part of the course requirement of my MBA program. I did my internship at IFIC Bank Limited, Rajshahi Branch. It will be highly appreciated if you kindly accept the report. Your positive action regarding this matter would be very much helpful for my academic career. Sincerely yours Md. Sohorab Hossain ID: 11251014 EMBA 7th Batch Department of Management Studies Rajshahi University Student’s Declaration I hereby announce that the extensive study entitled “Human Resource Policies and Practices of IFIC Bank” (Conducted in IFIC Bank Limited, Rajshahi Banch). Prepared in partial accomplishment of the requirement for the award of the degree Masters of Business Administration (MBA) From Rajshahi University is my original work and not put forward for the award of any other degree/diploma/fellowship or other similar term or honor. Md. Sohorab Hossain...
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...financial details on the green initiative, it says the program is already saving money and resources, and it projects billions in savings over time.1 Ethics and Corporate Responsibility Hear the True Story of how today’s managers do the right thing. Listen to what Derrick and Elaine have to say. “Ethics are crucial in the property management business. We are obligated to abide by fair housing laws in our dayto-day operations. Not only do we have an obligation as a company but also a social obligation to make sure our vendors and contractors are aware of these practices.” “The very nature and mission of my project is that of social responsibility. We are trying to do our part to help out developing countries in a way that an agricultural library is best equipped to do. Good workplace ethics translates into a better product for our subscribers. The better I and my employees perform, the better our product and the most useful it is to the end users, thus furthering the idea of social responsibility.” — Elaine Guidero, Library Manager — Derrick Hawthorne, Property Manager bat37233_ch03_050-071.indd 50 11/11/09 11:01:08 AM Confirming Pages WHAT YOU NEED TO KNOW ●● learning OBJECTIVES After studying Chapter 3, you will be able to: LO1 LO2 Explain how...
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...Chpt 3 Country Differences in Culture Learning Objectives: (课堂教学目标) • Know What is Culture of a Society • Identify the forces that lead to differences in Social Culture • Identify the Business and Economic Implications of differences in Culture • Understand How differences in Social Culture influence values in work place • Learn some cross-cultural analysis frameworks. Content and Schedule : (本章主要内容与学时计划) • Case study 15’ What is Culture文化 10’ ● Social Structure社会结构 20’ ● Religious and Ethical System宗教和伦理15’ ● Language语言15’ ● Education教肓15 ● Culture and the workplace文化和工作场所 45’ ● Culture Change文化的变化10’ ● Implication For Business商务含义25’ • Summary and assignments 总结和作业 10’ Special Attention(重点与难点) 重点: Determinants of Culture 文化的构成 Implication For Business 商务含义 难点: Cross-cultural analytical frameworks( 文化分析框架) Teaching Design (主要教学方法) • Instructing • Case study • Group Discussion in the class • Invite French student to join discussion (邀请法国留学生Brigitte参加案例讨论,她在 “巴黎Disney”工作过 Opening case(开篇案例) : Disney in France |案例讨论题 | |1.What assumptions did Disney make about the tastes and preferences of French consumers? Which of these assumptions were | |correct? Which were not? ...
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...always taken pride in doing things make money. For example, in a recent article in Fortune magazine, Alex Taylor III commented that, “Operating a business is tough enough. Once you add social goals to the demands of serving customers, making a profit, and returning value to shareholders, you tie yourself up in knots.” Ben & Jerry’s financial performance has had its ups and downs. While the company’s stock grew by leaps and bounds through the early 1990s, problems began to arise in 1993. These problems included increased competition in the premium ice cream market, along with a leveling off of sales in that market, plus their own inefficiencies and sloppy, haphazard product development strategy. The company lost money for the first time in 1994, and as a result, Ben Cohen stepped down as CEO. Bob Holland, a former consultant for McKinsey & Co. with a reputation as a turnaround specialist, was tapped as Cohen’s replacement. The company’s stock price rebounded in 1995, as the market responded positively to the steps made by Holland to right the company. The stock price, however, floundered toward the end of 1996, following Holland’s resignation. Over the last few years, Ben & Jerry’s has had a new resurgence. Holland’s replacement, Perry Odak, has done a number of things to improve the company’s financial performance, and its reputation among Wall Street’s differently. Its profits had been declining, but in 1995 the company was offered an opportunity to sell its premium ice cream in the...
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...EXECUTIVE COMPENSATION DISCLOSURE HANDBOOK: A Practical Guide to the SEC’s Executive Compensation Disclosure Rules Perkins Coie LLP Danielle Benderly Susan Daley Iveth Durbin Sue Morgan Kelly Reinholdtsen Executive Compensation Disclosure Handbook: A Practical Guide to the SEC’s Executive Compensation Disclosure Rules REVISED MAY 2010 Danielle Benderly Susan Daley Iveth Durbin Sue Morgan Kelly Reinholdtsen RR DONNELLEY Copyright RR Donnelley, 2010 (No claim to original U.S. Government works) All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior written permission of the authors and publisher. This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is provided with the understanding that the publisher is not engaged in rendering legal, accounting or other professional service. If legal advice or other expert assistance is required, the services of a professional should be sought. Printed in the United States of America. RR DONNELLEY About RR Donnelley Financial Services Group As the world’s largest provider of integrated communications, RR Donnelley successfully leverages our global platform, industry leading service organization and enduring financial stability to help our clients achieve their goals. With over 145 years of...
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...the role of finance, and the different types of jobs in finance. ◆ Identify the advantages and disadvantages of different forms of business organization. ◆ Explain the links between stock price, intrinsic value, and executive compensation. ◆ Discuss the importance of business ethics and the consequences of unethical behavior. ◆ Identify the potential conflicts that arise within the firm between stockholders and managers and between stockholders and bondholders and discuss the techniques that firms can use to mitigate these potential conflicts. Lecture Suggestions Chapter 1 covers some important concepts, and discussing them in class can be interesting. However, students can read the chapter on their own, so it can be assigned but not covered in class. We spend the first day going over the syllabus and discussing grading and other mechanics relating to the course. To the extent that time permits, we talk about the topics that will be covered in the course and the structure of the book. We also discuss briefly the fact that it is assumed that managers try to maximize stock prices, but that they may have other goals, hence that it is useful to tie executive compensation to stockholder-oriented performance measures. If time permits, we think it’s worthwhile to spend at least a full day on the chapter. If not, we ask students to read it on their own, and to keep them honest, we ask one or two questions about the material on the first mid-term exam. One...
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...lessons of recent corporate governance failures in Ireland and Irish-listed companies must meet evolving international market expectations if they are to attract international investment, the Chief Executive of the Irish Stock Exchange, Deirdre Somers has said. Somers (pictured) made her comments at a special conference on corporate governance hosted by the Irish Stock Exchange in Dublin today. “Companies must consider whether their historical practices, although accepted in the past, will meet market expectations in the future,” she said. Somers also said that investors had a particular responsibility in respect of publicly quoted companies. She said they must “demand better standards and require better disclosure and then differentiate and penalise those companies that do not provide them.” ISE companies not solely responsible Also speaking at the conference was the Chairman of the Irish Stock Exchange, Padraic O’Connor, who said that while most Irish-listed companies complied closely with the Combined Code – a key guide for corporate governance issues for public companies – problems had arisen where some companies deviated from the principles of the code. He cited in particular instances when the Chairman of a company was also Chief Executive or a former Chief Executive as an example. O’Connor also warned against devolving responsibility for corporate governance issues solely to publicly listed companies: “Responsibly for Ireland’s international corporate governance...
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...confidently. I would like to acknowledge to the lecturers of ICBT Kandy Campus, my friends and the people who helped me to finish the assignment successfully. Finally, I gratefully acknowledge to the support, encouragement, and patient of my parents. Thank You Ahamed Rikaz Contents Introduction - 4 - Organizational Structure - 5 - Tools Used For Business Analysis - 10 - SWOT Analysis - 11 - New Steps In Strategic Plan - 19 - Market Analysis: - 19 - Risk management, Contingency plan - 26 - Impact of internet on the organizational environments and strategic planning - 28 - Utilization of Information System in Strategic Plan - 31 - Management Information Systems (MIS) - 32 - Discussion of appropriate IT tools - 42 - Recruitment and Employment - 55 - Future Considerations - 87 - Conclusion - 88 - Gantt chart - 89 - References - 90 - Introduction Today’s Managers have to be like artist. They work in a global economy where the relationships among nations and corporations, emerging economies, outstanding partners, and the fast-paced digital revolutions create influences, constant shifts and transformations. Understanding and communicating information to others, maintaining good relationship with customers and members of the organization, using Information Technology in an effective way to make clear rational decisions are key...
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...Nike: The Sweatshop Debate 1. Should Nike be held responsible for working conditions in foreign factories that it does not own, but where subcontractors make products for Nike? Answer: Most students will probably agree that Nike should be held responsible for the working conditions in foreign factories where subcontractors make products the company sells. Students taking this perspective are likely to argue that since the workers are there to produce the products for Nike, the fact that the company does not actually own the facilities is immaterial – Nike is the beneficiary of the work done in the factory. Some students may suggest that Nike be resolved of some responsibility if the factories also produce products for other companies. 2. What labor standards regarding safety, working conditions, overtime, and the like, should Nike hold foreign factories to: those prevailing in that country or those prevailing in the United States? Answer: The question of whether of whether to hold foreign factories to the same standards as domestic factories is difficult. Some students might argue that Nike should require all factories regardless of their location to maintain the same standards when it comes to working conditions, overtime, and so on. Other students however, may suggest that it would be completely out of line to pay workers the same wages around the world, or require factories to follow expensive safety procedures. Students taking this perspective might argue that doing so...
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