Business Ethics and dilemma Essay

1. Review the assigned readings from the text and article by Carroll (1991). 2. Prepare a 3- to 5-page paper titled, Corporate Social Responsibility. 3. Reflect upon your text readings from Chapters 1 and 9 with a focus on the following core concepts: Organizational Social Responsibility (Chapters 1 and 9) The Ethical Decision-making Process (Chapter 1) Corporate Reputation (Chapter 9) The Corporate Social Responsibility Pyramid (Chapter 9) The Importance of Trust (Chapter 9) The Pyramid of Corporate Social Responsibility (article by Carroll and Chapter 9) 4. Read The Merck and River Blindness Case at the end of Chapter 9 of your text. 5. Compose your paper in Microsoft Word. Include your name, the assignment name and number, the course and section number, and the date on your title page. Follow APA guidelines for formatting and citations.. NOTE: Your paper must meet the minimum requirements as outlined in the section of Weekly Written Assignments of the Assignment Guidelines and the grading criteria of this assignment. You are to provide a minimum of 2-3 references in your work. For this assignment, use of general google.com or Internet search references is not acceptable. Use the university library’s scholarly databases. 6. Respond to each of the following questions and statements: Stakeholders: Produce a list of all key stakeholders that you perceive to have a bona fide interest in the Merck company’s dilemma. Corporate Social Responsibility Pyramid: Frame the Merck company’s ethical dilemma within the Corporate Social Responsibility Pyramid. E.g. State briefly the key economic, legal, ethical, and philanthropic responsibilities. As a focal point, compare and contrast the economic implications against the ethical and philanthropic considerations. Organizational Values: State briefly and specifically whether the decision to a) proceed with the drug project or b) not to proceed with the drug development best fits with the company’s declared organizational values and its principles of profitability. Stakeholder Impact and Trust: If the drug development failed and cost hundreds of millions of dollars, would that harm to the company and its stakeholders be justifiable? If Merck decided not to pursue development of the new drug, what implications do you see this having for stakeholder relations such as the scientists who desire the development. E.g. Is this a trust and leadership consideration? Final Decision: If you were the CEO of Merck and the final decision on this risky new drug development was yours, what would you do and why? Justify your decision. Using Carroll’s theory, are you comfortable stating your opinion to the board of trustees, employees, and media? NOTE: Since this is an actual, real-life case, your focus should be on producing creative and new thinking that applies the ethical concepts to the material. Also, include an introduction and conclusion in your paper. You are encouraged to use the headings above in Action Item 7 in your paper for organizational purposes. 7. Submit your paper to Turnitin.com. NOTE: Turnitin.com is used by Franklin University to assist students in detecting plagiarism. Turnitin generates a report within minutes of submitting your paper. Your results will not be e-mailed to you; you must login to review your results. Submitting a paper ahead of an assignment deadline provides you with the opportunity to take action if you need to rewrite any part of the paper. Your professor will provide you with a class ID and password as an e-mail or a Class Communication object. Submission Instructions By Sunday, upload your paper using the Submit tool. Grading Criteria Content and focus: Response addressed the question(s) posed in a logical, cohesive manner: 0 – 35 points Analysis and critical thinking: Writing illustrates higher order critical thinking, analysis, synthesis, and/or evaluation: 0 – 35 points Writing style, grammar, sentence structure: Sentences are consistently clear, concise, well written; grammar and punctuation are correct: 0 – 15 points APA and research: Correct use of APA style in body of paper and appropriately references the text and/or other research sources: 0 – 15 points

Industrial tourism Essay Example | Topics and Well Written Essays - 1000 words

Industrial tourism - Essay Example One of the things that Abbey hates most about modernity is the construction of highways and access roads through or into wildernesses and national parks, whether it is to connect distant places or to make them more accessible. According to him, the roads and highways reduce the â€Å"old magic† of real, genuine amusement that comes from using less-motorized means to explore the wild such as walking on foot or using bicycles. He strongly accuses the notion that the purpose of the roads is to enhance accessibility so that more people can experience nature in lesser time. To him, accessibility is just a curtain to blind the people of modernity’s real intention, which to him is making money. His argument is that no place is inaccessible if one is willing to, and that accessibility does not make sense since people have been too extreme regions of the world unaided by heavy motorized mechanisms. â€Å"What does accessibility mean? ...even Mount McKinley, even Everest, have b een summoned by men on foot †¦Ã¢â‚¬  (Abbey 47). The second reason why Abbey is against modernity is that whatever it claims to be doing for the people is not true, claiming that the industrialization of tourism is merely for monetary gain. From his perspective, the motels, automotive industries, oil corporations, gas retailers, road constructors, and all other parties involved in the modernization of nature are all in the industry to make money, and that they care for neither the people nor nature itself. In addition, he reveals that in addition to being big business, it is a well-organized cartel inspired by the politics of the land. As he puts it, â€Å"Industrial Tourism is a big business. It means money †¦ and are represented in Congress with strength far greater than is justified†¦Ã¢â‚¬  (48). Abbey offers some corrective measures to change the attitudes of people from the ones already stained by modernization. For one, people should not take automobiles to n ational parks or in the wilderness. Just like they are not taking them to churches for their being â€Å"holy† so be it with parks as they are also holy. He suggests that people should be more natural: use their feet or enter the parks on animal backs. Second, he recommends that further construction of roads in the parks should stop, and the already existing roads to remain for use by those on bicycles. Lastly, he says that park rangers should do their work; to go out into the parks to guard and guide visitors, and not sit behind desks in booths selling tickets. Abbey adds that these measures will bring back the good old days of hiking, camping, and enjoying the wild in its natural form, not to mention that it is cheaper than using motorized assistance. He argues quite sensibly. If one forecasts the future, in the days when the population will have expanded, then it means the need for constructing more roads to connect more cities and towns that will have come up will grow. T his means more roads will appear in the wild. In addition, if we do not respect the natural parks and the wilderness, it means our population will lead to our encroaching on the natural geographies to create more dwelling places. Therefore, his argument for the monitoring of the growing population is very true. Abbey however chips in a little acknowledgement

Ethical Theories & Stakeholders Essay Example | Topics and Well Written Essays - 1750 words

Ethical Theories & Stakeholders - Essay Example An organization exists in the society, for the society and cannot have an existence independent of the society. Moreover, the organization has responsibility towards all the stakeholders that are directly or indirectly affected by the conduct of the organization or the employees (Joyce, 2005). Problem statement Top management involvement is essential to build a strong ethical culture within an organization (Clement, 2006). The issues before Veronica are to ascertain if the company policy permits action against such issues. Besides, as a director, she has responsibility towards the stakeholders. She is also morally bound by duty to act in the interest of the maximum number of people. If the demands of the shareholders, stakeholders, consumers and the investors are not met, it can adversely affect the brand image, customer retention, and overall business (Robinson, 2002). Ethical theories & Stakeholders The stakeholders The stakeholder theory holds that managers are obliged to serve al l those who have a â€Å"stake† in the firm (Marcoux, 2000). Initially the stakeholders included the Big Five – the employees, the owner or the shareholders, the customers, suppliers and the community in which the firm operated. The other twin stakeholders include the government (who has the responsibility to ensure that the firm complies with all regulations) and the competitors (who keep the company conscious of the developments and help avoid unethical business practices. The purpose of the firm itself is to serve and coordinate the interests of all the stakeholders (Joyce, 2005). Great Builds is a multinational engineering company and has to ensure that the interest of all the stakeholders is taken care of. Employees are the greatest stakeholders as they constitute the firm and contribute to the firm. Employees have the fundamental right to liberty and safety within the workplace (Greenwood & Cleri, 2005). Customers are only interested in reliable supply of goods a nd services but more recently they have become conscious of dealing with ethical firms. The suppliers demand timely payments and long-term relationships and the community expects safety and security. In the case of Great Builds the most affected by unethical practices would be the employees, the customers and the shareholders. The competitors could be positively affected if the performance of Great Builds suffers as a result of the CEO’s behaviour. Categorical Imperative According to Immanuel Kant duties cannot be associated with self-interest or rewards and payoffs (Carrigan, Maronova & Szmigin, 2006). Moral requirements are based on a standard of rationality known as â€Å"Categorical Imperative†. However, chances are these standards are desire-based on instrumental principles of rationality (Stanford, 2004). The moral philosophy goes beyond that of a human slave to passions. Kant emphasizes that there is a self-governing reason in each individual which guides the pe rson in a rationale decision-making process. There has to be motivation by duty or motivation by respect for law that governs actions. Thus, Kant states that the fundamental principle of our moral duties is a categorical imperative. The word imperative urges us to act in a particular way. The Categorical Imperative is derived from two maxims – objectivity and respect for all persons (Kitcher, 2004). The maxim of objectivity states that the act is right if

Comparison of IFRS and US GAAP Essay Example | Topics and Well Written Essays - 2500 words

Comparison of IFRS and US GAAP - Essay Example A financial statement must provide details with regard to financial position, changes in position and operations of an enterprise which may be useful for decision making. International Accounting Standards Board is development of International Accounting Standards Committee (IASC) created in 1973 with the objective of developing the uniform standards of accounting. IASB and US Financial Accounting Standards Board (FASB) congregated the IFRS and US GAAP in 2002 as part of the Norwalk agreement making their existing financial reporting standards compatible and practicable and coordinating their future work programme to ensure compatibility. The IASB provided two accounting standards for financial reporting frame works like International Financial Reporting Standards (IFRS) developed by The International Accounting Standards Board (IASB) and Generally Accepted Accounting Principles (US GAAP). The US GAAP was acknowledged extensively as the international set of standards to make certain best quality financial statements. This standard was mostly used in the US and also elsewhere, but with the entry of IFRS a debate on the virtual class of both authoritie s has taken place. GAAP is exceptionally comprehensive on what is acceptable and unacceptable. IFRS is used by more than hundred countries as their standard set of guidelines and principles. Still more countries, like Canada and India are projecting to follow IFRS from 2011. This paper is intended for providing some explorative information on the IFRS / US GAAP and also some demarcation and comparison of the two standards of financial reporting. More specifically, the purpose of the current study is to investigate the properties of IFRS versus US GAAP standards of accounting using the accounts of National Grid Plc that is listed both in EU and US Stock Exchange. And most importantly, the paper identifies the difference between the rules and principles of two accounting standards through the accounts of National Grid Plc and its usefulness to various stakeholders of the organization. IFRS and US GAAP - Significant differences in National Grid Plc National Grid is an energy production organization which owns and operates the electricity transmission system in England and US. National Grid distributes gas to 11 million homes and businesses in UK. The company is also engaged in business of wireless infrastructure along with other businesses like National Grid Metering, Onstream, National Grid Grain, property, etc. The main areas of operation of the company are UK and US which was created by the restructuring of UK gas industry in 1986 and electricity industry in 1990 and entered the US market in the year 2000. (www.nationalgrid.com) According to annual report for the year 2005/06, it is revealed that the group has achieved 25% increase in the revenue from 7382m to 9193m. And according to the same reports, operating profits have also increased from 2142m to 2439m (2005/06) which is 14% higher. National Grid has also entered into acquisition and merger with some companies like Keyspan Corporation. The company with its base in US and UK, the countries which adopt two different standards of accounting principles, has to prepare accounts conforming to the rules and regulations of that particular nation. However,

Harmonization and Financial Reporting Coursework

Harmonization and Financial Reporting - Coursework Example That seemed far from a sure thing last spring, w. hen the Financial Accounting Standards Board (FASB) solicited comments on the AICPA's new "comprehensive "model f business reporting" and so endowed it with a faint whiff f reality. The timing seemed right. At the Securities and Exchange Commission (SEC), commissioner Steven M.H. Wallman was already lending tacit support to the concept by publishing articles and hosting conferences on his own ideas for an expanded system that would include improved disclosure f intangible assets. Meanwhile, SEC chairman Arthur Levitt had just successfully lobbied the Financial Accounting Foundation (FAF) to give one f the seats held by the Financial Executives Institute (FEI) to a public-sector trustee. The FAF oversees FASB, f course, and what small voice preparers had in directing the views f FASB was further diminished. Finally, many preparers had concluded that FASB, as demonstrated by the onslaught f new standards it had issued in recent years, w as hardly worried about complaints that financial executives were overburdened. And yet, like a baseball team that has just captured a wild-card ticket to the playoffs, the preparer community appears to have enjoyed a turn f luck. After reviewing the AICPA's arguments for a new reporting model and listening to comments from users and preparers f financial statements, both in written and oral testimony, FASB chairman Dennis Beresford has concluded that, for now anyway, it's just too much. "While it is dangerous to generalize about such letters and meetings," Beresford says, "my feeling is that most f our constituents aren't interested in wholesale changes to our current financial reporting system." And FASB, it seems, is not interested in tackling any major overhaul f the status quo. "My prediction," says Beresford, "is that FASB is going to be quite cautious about expanding its role beyond traditional financial statement matters." The Complicating Factors FASB has good reasons for tabling the issue. For one thing, Beresford's second five-year term expires in June, and many observers think the Board will be reluctant to take on any major new projects until a new chairman is installed. In addition, FASB's current agenda is jam-packed with such projects as derivatives disclosure, segment reporting, and comprehensive income. While FASB agreed to review the future f financial reporting as part f its first strategic plan, adopted last April, so far it has been reluctant to for-realize the creation f a new financial reporting model as a working project. And whatever decision is made about the future f reporting has to be made with an eye toward possible U.S. acceptance f new international accounting standards--which isn't expected for at least several more years. All in all, this is not what the AICPA had in mind when its Special Committee on Financial Reporting, chaired by Edmund Jenkins, issued its voluminous report a little over two years ago. The committee said then that current financial statements were no longer providing users with the information they needed to make smart credit and investment decisions, and were

Understanding Management Information Assignment

Understanding Management Information - Assignment Example This report intends to examine and portray the trend witnessed in the UK Tablet PC market, especially in respect of the preferences deciphered by young students aged between 18 years to 35 years and assist PG Communication LTD, a communication equipment producing company, to develop and launch innovative Tablet PCs in the UK. With enhanced features and operational efficiencies, Tablet PCs have thus emerged in the market segments of the UK and worldwide as dominating technological gadget. There are various factors which include simplicity, battery life and multi-tasking facility on the basis of which Tablet PCs are used for household, business and education purposes. Presently, Tablet PCs are used immensely by students and educational institutes with the objective of improving the education system, being strongly influenced by the notion of real-life learning, rather than focusing on traditional classroom learning merely (Korkmaz & et. al., 2012). Accordingly, the objective of this pa rticular research study is to determine the market conditions for Tablet PCs in the UK and accordingly devise appropriate strategies on the basis of which PG Communication LTD can launch Tablet PCs for students in the UK. Research Method Data for this particular research study were collected from secondary sources primarily. According to the report published by TechSciResearch (2011), the statistical results signified that Tablet PCs are the emerging technological gadgets in the electronic market segments. Tablet PCs have immense demand in the worldwide market segments. ... On the basis of quantitative descriptive research approach, apart from the secondary sources, the research findings have also been postulated on the basis of primary data, collected with the application of a questionnaire survey. The sample size for the questionnaire survey was 100 who were selected from the population comprising UK students aged between 18-35 years, i.e. the targeted customers of PG Communication LTD. To be noted, both the primary and secondary data collection methods used in this study possesses particular advantages and disadvantages which has been depicted in the section below. Secondary Sources Primary Sources Advantages The data collected through secondary method are determined to be cost as well as time efficient Secondary data are readily available which may assist in acquiring adequate information in an efficient manner (Parasuraman & et. al., 2006) Obtained first-hand, the data collected from primary research are more appropriate as well as reliable source of information for research study as compared to the secondary data (Wiid & Diggins, 2010) Disadvantages The data collected from secondary data may be out-of-date (Parasuraman & et. al., 2006) The primary data collection method is time consuming and expensive The researches should be experienced and unbiased while collecting information which requires high interpretive skills within the researcher (Wiid & Diggins, 2010) Analysis Secondary Research According to the report published by TechSciResearch (2011), the statistical results signified that Tablet PCs are the emerging technological gadgets in the electronic market segments. Tablet PCs have immense demand in the worldwide market segments. Moreover, the report states that

Intelligent Buildings Assignment Example | Topics and Well Written Essays - 3500 words

Intelligent Buildings - Assignment Example There is another aspect, however, to the design of the modern structure which today is discussed in terms of its use and how well humans who occupy it feel about it from a sensory perspective. From much of what has been written, the modern view of design must adhere as much to its function and it does its aesthetic appearance and usefulness in offering itself as a pleasing place to be. The intelligent building then must be a ‘multi-sensory experience’ (Clements-Croome, 2004, p. 58). We do not 'see' or perceive our environment only with the eyes, but with all senses. It is the job of the architect to acquiesce to those senses and create building designs that are more than warehouses—buildings that encourage from its occupants an emotional and natural interpretation of their environment through the interactive workings of the senses. The Multi-Sensory Perspective While speaking of aesthetics in architecture it is interesting to note that while the term technically a pplies to visual pleasure, in our field we are also speaking about the senses-- auditory, tactile, olfactory, thermal, and even kinesthetic. And while current thinking today favours a holistic or multi-disciplinary approach to building design, the same applies to the multi-sensory approach to design that in the end most affects the building’s occupants or users as well as those who view it. There are examples of this in many older buildings. ‘The delicate composition of the architectural elements in the Residence of the Middelheimpark, in Antwerp...creates an intensely poetical effect: a single tone, white, brings about a wide range of greys and creates optically intriguing effects’ (Farmer & Louw 1993, p. 320). So when the term aesthetics is used it is predominantly referring to the goal of an all-around positive aesthetic experience through all of the senses, often occurring in esoteric ways that must be carefully considered in the design process. Hands and ski n feel texture as pleasing or not; visionary sense elicits other sensory reactions; odours, as we have all experienced, may illicit memories of events and times, such as cooking smells make us think of our mothers’ kitchens. As Clements-Croons (2004: 63) found, ‘The human senses are extraordinarily sensitive, and it is through them that we experience life wherever we are’. From a psychological and spiritual perspective, it can not be emphasized too strongly that people, through their senses. need the stimulation of a pleasing well-considered environment. Buildings, viewed in a philosophical context then provide a high level of stimulation—stimulation that not only presents a pleasing result but a spiritually uplifting one metaphorically similar to those experienced in nature. This animation of the architectural experience is not unlike the lift of spirit one experiences through the senses when viewing a good piece of art. As a necessary life element, such experiences are crucial and as such sensory architectural details ‘should always be given high priority’ (Clements-Croons 2004, p. 58). Space, Sensory Perception and the Human Psyche In the words of filmmaker Murray Grigor, ‘To comprehend architecture, one needs to move through its spaces. After all, that’s how we all experience buildings, inside and outside: we walk,