This document provides an overview of key concepts in business, including:
1) It distinguishes between for-profit and not-for-profit organizations and identifies the four factors of production.
2) It describes the private enterprise system and highlights six eras in U.S. business history from colonial times to today's relationship era.
3) It explains how today's business workforce is changing and the nature of work is evolving, and identifies skills needed for 21st century managers.
The world economy is change. The model of the 20th century corporation need to be adapted toward a 21st century model: flat, connected, focused on innovation, collaborative, global.
Explore the four pillars of future economic development - one prosperous, skilled, innovative, and livable - that communities are using to build globally competitive communities. Explore how private sector development, workforce and education, entrepreneurs and small business, and community development support broad-based economic growth and quality of life.
Gain more information on the topic during IEDC's Economic Future Forum in Tulsa, OK June 12-14. To register visit: iedconline.org/futureforum
International Business refers to the trade of goods, services, technology, capital and/or knowledge at a global level. It involves cross-border transactions of goods and services between two or more countries.
Creating shared value bridging the gap between business and societyTony Usidamen
A presentation by Tony Usidamen, Managing Partner, Uburu at the CSR West Africa 2014 Conference held at Four Points By Sheraton, Victoria Island, Lagos, Nigeria from the 8th to 9th of October 2014.
The world economy is change. The model of the 20th century corporation need to be adapted toward a 21st century model: flat, connected, focused on innovation, collaborative, global.
Explore the four pillars of future economic development - one prosperous, skilled, innovative, and livable - that communities are using to build globally competitive communities. Explore how private sector development, workforce and education, entrepreneurs and small business, and community development support broad-based economic growth and quality of life.
Gain more information on the topic during IEDC's Economic Future Forum in Tulsa, OK June 12-14. To register visit: iedconline.org/futureforum
International Business refers to the trade of goods, services, technology, capital and/or knowledge at a global level. It involves cross-border transactions of goods and services between two or more countries.
Creating shared value bridging the gap between business and societyTony Usidamen
A presentation by Tony Usidamen, Managing Partner, Uburu at the CSR West Africa 2014 Conference held at Four Points By Sheraton, Victoria Island, Lagos, Nigeria from the 8th to 9th of October 2014.
This is for the Creditable Fashion Presentation the working shoes .docxkbrenda
This is for the Creditable Fashion Presentation the working shoes that we are presenting for a new product
BUDGETING, VARIANCE ANALYSIS, AND PERFORMANCE EVALUATIONS
Required:
Make comments and suggestions on the following topics in your presentation.
· Enterprise and corporate performance management.
· Behavioral change management.
· The balanced score card.
· How to foster goal congruence for the organization and employees.
SLP Assignment Expectations
Submit a PowerPoint presentation or a Word Document. A PowerPoint presentation should have no more than six slides and a Word document cannot exceed two pages. Use words, tables, and graphs to make a succinct presentation. Document all sources and provide links at the end. It is acceptable to add another slide or page to list the sources.
Business Ethics and
Social Responsibility
http://www.wileybusinessupdates.com
Chapter
2
1
Explain the concern for ethical and societal issues.
Describe the contemporary ethical environment.
Discuss how organizations shape ethical conduct.
1
Learning Objectives
Describe how businesses can act responsibly to satisfy society.
Explain the ethical responsibilities of businesses to the general public.
Describe the responsibilities to investors and the financial community.
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3
4
5
6
2
Business Ethics
The standards of conduct and moral values governing actions and decisions in the work environment.
Social responsibility
Balance between what’s right and what’s profitable
Often no clear-cut choices
Often shaped by the organization’s ethical climate
Concern for Ethical and
Societal Issues
3
Ethical Challenges
Situation in which a business decision may be influenced for personal gain.
Telling the truth and adhering to deeply felt ethical principles in business decisions.
Businesspeople expect employees to be loyal and truthful, but ethical conflicts may arise.
4
The Contemporary Ethical Environment
High-profile investigations and arrests in headlines.
Vast majority of businesses are ethical.
New corporate officers charged with deterring wrongdoing and ensuring ethical standards.
See how Walmart highlights corporate responsibility on its website.
5
Individuals can make the difference in ethical expectations and behavior.
Putting own interest ahead of the organization
Lying to employee
Misrepresenting hours
Safety violations
Internet abuse
Technology is expanding unethical behavior.
Individuals Make a Difference
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Development of Personal Ethics
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How Organizations Shape Ethical Conduct
Code of Conduct: Formal statement that defines how the organization expects and requires employees to resolve ethical questions
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Ethical Leadership
Executives must demonstrate ethical behavior in their actions.
use clear, explicit language rather than euphemisms for corrupt behavior
encourage behavior that generates and fosters ethical values
practi.
This presentation is suitable for CIE A-Levels' students and teachers who are looking for additional references to teach, learn, study, and make revision. I hope you find it useful.
1. Chapter 1 The Framework of Contemporary Business Learning Goals Distinguish between business and not-for-profit organizations. Identify and describe the factors of production. Describe the private enterprise system. Identify the six eras of business and explain the relationship era. Explain how today’s business workforce is changing. Describe how the nature of work is changing. Identify skills and attributes of 21st-century managers. Outline the characteristics that make a company admired. 1 2 3 4 5 6 7 8
2. WHAT IS BUSINESS? Business All profit-seeking activities and enterprises that provide goods and services necessary to an economic system. Profit Rewards for businesspeople who take risks involved to offer goods and services to customers. Not-for-Profit Organizations • Businesslike establishments that have primary objectives other than returning profits to owners. • Examples: Ohio State’s athletics departments, U.S. Postal Service, American Heart Association • Face many of the same challenges as for-profit organizations.
3. Factors of Production Four basic inputs an economic system requires: Natural Resources All production inputs that are useful in their natural state. Capital Technology, tools, information, and physical facilities. Human Resources Anyone who works, including the CEO and a self-employed mechanic. Entrepreneurship Willingness to take risks to create and operate a business.
4. THE PRIVATE ENTERPRISE SYSTEM Private Enterprise System An economic system that rewards firms for their ability to see and meet the needs and demands of consumers. Also called capitalism . Competition Battle among businesses for customer acceptance; Adam Smith’s “invisible hand” that requires firms to engage in competitive differentiation to set themselves apart from competitors. • To succeed, firms must adjust to market changes and competitors’ actions • Example: Kellogg’s adaptations to consumers’ preference for healthier cereal help it succeed in its battle against General Mills for the breakfast cereal market.
5. Basic Rights in the Private Enterprise System Right to own, use, buy, sell, and bequeath most forms of property. Owner legally and ethically entitled to income in excess of costs, after taxes paid. Citizen choice in employment, purchases, and investments. Fairness ensured by rules and laws set in public sphere.
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7. SIX ERAS IN THE HISTORY OF U.S. BUSINESS The Colonial Period (pre-1776) • Emphasized rural and agricultural production. • Colonists depended on England for finished products and financial backing. The Industrial Revolution (1760-1850) • Move from one-by-one production of goods by skilled laborers to factory systems and mass production. • Factories profited from savings realized through large-scale production.
8. The Age of Industrial Entrepreneurs (late 1800s) • Inventors created an endless array of commercially useful products and new production methods. • Eli Whitney introduced concept of interchangeable parts. • Robert McCormick introduced horse-drawn reaper than reduced the labor involved in harvesting wheat. • Vanderbilt (railroads), Morgan (banking), and Carnegie (steel) started new businesses and reaped great benefits. The Production Era (through the 1920s) • Emphasis on efficient production of goods through huge, labor-saving factories. • Focus on internal processes rather than external influences, e.g., Henry Ford’s assembly lines.
9. The Marketing Era (since 1950s) • Drop in income during Great Depression focused businesses on marketing goods and services through sales and advertising. • Development of consumer orientation , a marketing approach that focuses on determining what consumers want and need and developing products to satisfy those needs • Businesses increasingly distinguished their products from competitors’ through branding , e.g., the McDonald’s “golden arches.”
10. The Relationship Era (began in 1990s) • Businesses take a long-term approach to interactions with customers to build loyalty and improve customer retention.
11. Managing Relationships through Technology Relationship Management Collection of activities that build and maintain ongoing, mutually beneficial ties with customers and other parties. • Involves gathering knowledge of customer needs and preferences and applying this understanding. • Many of these activities are based on technology , the business application of knowledge based on scientific discoveries, inventions, and innovations. • Communication with customers often aided by technology, particularly the Internet, e.g., Stonyfield Farm’s use of blogs to reinforce customer relationships. • Bovine Bugle
12. Strategic Alliances and Partnerships • Businesses affiliate with each other through partnerships to take advantage of new opportunities. • Firms form a strategic alliance to create a competitive advantage. • Example: A partnership between an online company such as eBay and traditional retailers such as Bloomingdale’s, Home Depot, and Motorola. • Traditional retailers contribute expertise in buying and distribution. • Online company sells outdated or excess merchandise. • Everyone wins: Customers get good prices, retailers get better return on their dollar, and eBay gets a cut of sales. • Example: Pepsi and Apple partnering in short-term promotion of Pepsi’s soft drinks and Apple’s iTunes Music Store.
13. TODAY’S BUSINESS WORKFORCE A skilled and knowledgeable workforce • Fosters strong ties with customers and partners • Improves efficiency and quality • Promotes innovation All of these provide a foundation for competitive differentiation.
14. Changes in the Workforce Aging of the Population The number of Americans 65 and older will double by 2030; trend is similar globally. • More workers at the younger and older ends of the age spectrum. • Companies developing incentives to keep older employees longer. Shrinking Labor Pool The U.S. may face a shortage of 10 million workers by 2010. • Technology requires workers with advanced skills. • Immigrants represent one of every seven workers, one of every two new workers.
15. Changes in the Workforce Increasingly Diverse Workforce Immigration and growing Hispanic and Asian populations are major factors contributing to a more diverse workforce. • Diversity —blending individuals of different genders, ethnic backgrounds, cultures, religions, ages, and physical and mental abilities—can enhance a firm’s chances of success. • Offer firms varied perspectives and experiences that foster innovation and creativity.
16. Changes in the Workforce Outsourcing and the Changing Nature of Work U.S. output is shifting from manufacturing to services such as financial management and communications. • Different work lifestyles, e.g., telecommuting, scheduling flexibility. • Outsourcing Using outside vendors to do work formerly done inside the company. • Increased use of offshoring , relocation of business processes to lower-cost locations overseas, and nearshoring , outsourcing near the firm’s home base.
17. Changes in the Workforce New Employer-Employee Partnership Lifetime employment with one company is largely a thing of the past. Today’s model is partnership. • Companies recognize value of a partnership with employees and many routinely share financial data with them. • Companies offer stock, profit-sharing, and employee training geared toward career advancement.
18. THE 21ST-CENTURY MANAGER Importance of Vision Vision is the ability to perceive marketplace needs and what an organization must do to satisfy them. Importance of Critical Thinking and Creativity Critical thinking is the ability to analyze and assess information to pinpoint problems or opportunities. Creativity is the capacity to develop novel solutions to perceived organizational problems. Ability to Steer Change Changes are driven by technology, marketplace demands, and global competition.
19. WHAT MAKES A COMPANY ADMIRED? Business ethics—standards of conduct and moral values involving decisions made in the work environment. Social responsibility—management philosophy that includes contributing resources to promote the well-being of the general public. More information about this list