Business Ethics and the Global Dimensions of Business Essay

Business Ethics and the Global Dimensions of Business This inclusive analysis was developed after an initial consultation with the C.E.O. of XYZ Construction, Inc. where the implications of expanding the construction company into Asia were discussed. The issues to be examined are the varied aspects of implementing a global business expansion. Time wise there is market potential for this opportune endeavor. However there are potential difficulties and risk that need to be considered before an international expansion is implemented. Moving from an exclusively domestic market into a global market within a horizontal construction operation can be perilous if not thoroughly strategized and prepared for carefully. Furthermore the ethical and†¦show more content†¦(Management eBook, 2010, p. 204) Relating opportunities to resources is a key strategy for businesses to consider. (Andrews, 1987, p. 35) Using human and material resources wisely benefits global business and due to less stringent regulations and lower wages companies seek g lobal opportunities to reduce cost. (Management eBook, 2010) Low interest rates have benefitted emerging economies. (Lee, 2006) Chief Executive Alistair Cox told Reuters in an interview that while consumers, global companies and employees seemed paralyzed by uncertainty over the world economy, they had since begun to adapt to tougher conditions and started hiring and changing jobs. He was particularly encouraged by a strong start to 2012 for Asia-Pacific, where two of its top five markets are located. Cox states, I would expect very strong double-digit growth across our Asia business in this calendar year because all the fundamentals are there†. (Janowski, 2012, p. 1) Michael Klein of Citigroup, states, â€Å"Emerging economies are using financial surpluses to attract sustainable economic activity. If growth in developing countries continues to outpace that of the developed countries the face of developmental finance will change†. (Lee, 2006, p. 99) Considering the evidence presented, not only will international developmental finance change but the dynamics behind the entire global initiative, approach and expansions will change how companies strategizeShow MoreRelatedBusiness Ethics and the Global Dimension of Business Essay2544 Words   |  11 PagesBusiness Ethics And The Global Dimension of Business Abstract Now that we have established a strategic business plan for Marketing, Operations and Human Resource Management for ABC Complete Kitchens, Inc, we must now establish an ethically and socially responsible business climate for our new plant. Another topic we must turn on our focus on is our presence in the global market. Because 20% of our sales are anticipated to be in the overseas market, we must address our international managementRead MoreEthical Decision Making A Good Corporate Social Responsibility938 Words   |  4 PagesIn today’s busness world, ethics must be considered in order to keep organizations in good social standing in their industries and in society. Hobby Lobby founder David Green insist that stores are closed on Sundays to allow employees time for family and worship (Green, n.d.). Critics say that believers and employees may be happy with the policy, but the store is losing business to competitors who remain open on Sundays and for longer hours. This might be true but it is not important to Mr. GreenRead MoreUnderstanding Cultural Dimension : Strategy For Globalization Business1596 Words   |  7 Pages Understanding Cultural Dimension: Strategy for Globalisation Business The maritime industry is a kind of vast business, which usually develop into multinational business. This business will involve many people from other countries. Since, the ship moves from one to another country, communicating with people from another country with different cultures is inevitable. Culture was defined by anthropologist as learning and sharing concept, value and belief or can be said as an adaptable systemRead MoreGlobal Business Today917 Words   |  4 PagesUnited States/West Africa: A Comparison Of Home and Host Cultures LeAndra Evans Upper Iowa University BA 488-Economics of International Business January 21, 2011 United States/West Africa: A Comparison Of Home and Host Cultures Introduction What is culture? Culture—according to many scholars is â€Å"a system of values and norms that are shared among a group of people and that when taken together constitute a design for living† (Hill, 2009). 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This culture is founded on ethics while still maintaining a completive nature that is embedded in the industry. They have structured their organization and policies in a way to prevent and report unethical actions employees may engage in. Through various bits of research, we are ableRead MoreEthical Principles Of The Word Ethics1464 Words   |  6 PagesThe Cambridge Dictionary of Philosophy states that the word ethics is commonly used interchangeably with morality ... and sometimes it is used more narrowly to mean the moral principles of a particular tradition, group or individual (Deigh, 1995). Since we were kids and we began to realize what was around us, our parents and grandparents have taught us the basic knowledge of what is good and what is bad. It is indeed an inherent characteristic of all human being and grows from our desires toRead MoreImportance Of Business Ethics On Previous And Current Literature Essay1459 Words   |  6 PagesImportance of business ethics in previous and current literature Previous Methodologies used for Studying Business Ethics Majority of the literature reviewed relied heavily on questionnaires and surveys as the chosen methodology. According to Rowley (2014), questionnaires are the â€Å"most widely used means of collecting data† (p. 308). However, when designing a questionnaire or survey researchers should consider the type of questions being used, sensitivity of questions asked, content and lengthRead MoreThe Ethics Of Business Ethics1064 Words   |  5 Pages　　　　Business Ethics Ethics can be viewed as the rules and values that determine goals and actions people should follow when dealing with other human beings. However, business ethics can be defined as moral principles of a business. 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Divorce Is More Popular Than Marriage - 868 Words

In today’s society a divorce is more popular than marriage. As soon as you say,† I do,† the odds are not in your favor. One in two couples do not survive, they get divorced. Society is in a downward spiral with making a marriage last. We have become quitters; when times get hard we quit. The small things are the most important in a marriage. There are easy ways to make a marriage last. Having a healthy sexual relationship is vital for any marriage. Remembering the reason why you got married to begin with is important in a marriage. There will disagreements in a marriage; learn to pick your battles. Compromising is another key element to happy successful marriage. Sex is what sets you apart from being just a roommate. Having a healthy sexual relationship can improve the passion in your relationship. (2014 Aaron Anderson). There is a deeper communication that comes with sex. Both people feel a comfort level with each other that is not felt with anyone else. It requi res you both to become very vulnerable by asking, and receiving. It requires you to reach a deeper level of trust with your spouse. They also need to be open to hearing what their spouse wants feels and needs. This is not only a recipe for great sex but a great marriage as well (2014 Aaron Anderson). There are many benefits to having a healthy sexual marriage. It can help to reduce everyday stress in life. With these benefits, it can also build a stronger bond between each other. The next thing to remember is whyShow MoreRelatedPopular Culture s Negative Influence Essay1727 Words   |  7 PagesCelebrating twenty-eight years of marriage seems to be a pretty impressive feat in today’s world. Not to mention all the couples who have been together for forty, even fifty years. Forty to fifty percent of marriages end in divorce in America (Kazdin, 1). Some say that that is a myth, that it is not actually factual. However, thorough research proves that it is unfortunately true. 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Classical Management Theorists Frederick Taylor and Henri Fayol Free Essays

Management approaches Andrew Vasylenko Scientific advisor – Senior teacher Hvan A. V. Poltava University of Economics and Trade Management in all business areas and organizational activities are the acts of getting people together to accomplish desired goals and objectives efficiently and effectively. We will write a custom essay sample on Classical Management Theorists Frederick Taylor and Henri Fayol or any similar topic only for you Order Now Management comprises planning, organizing, staffing, leading or directing, and controlling an organization (a group of one or more people or entities) or effort for the purpose of accomplishing a goal. Resourcing encompasses the deployment and manipulation of human resources, financial resources, technological resources, and natural resources. Because organizations can be viewed as systems, management can also be defined as human action, including design, to facilitate the production of useful outcomes from a system. There are 6 management approaches, such as: The classical approach The human resource approach The quantitative approach The process approach The contingency approach The system approach 1. Frederick Taylor and Henri Fayol were both theorists of the classical management movement. The classical approach was the framework to what management is all about. Therefore it can be said that they laid the foundation for many theorists. Frederick Taylor was an important theorist of the early 20th century and he made many important contributions to management. He proposed the principles of scientific management which he believed would improve industrial efficiency. He believed management could be formulated as a discipline. Taylor’s principles of scientific management focused on cooperation between management and the workers as well as improving the technical skills of the workers. His approach is often referred to scientific management, Taylorism or Taylor’s principles. Fayol’s uggested that there were five main roles of managers, these being planning, organising, commanding, coordinating and controlling. 2. The Human Resources Management function includes a variety of activities, and key among them is deciding what staffing needs you have and whether to use independent contractors or hire employees to fill these needs, recruiting and training the best employees, ensuring they are high performer s, dealing with performance issues, and ensuring your personnel and management practices conform to various regulations. Activities also include managing your approach to employee benefits and compensation, employee records and personnel policies. 3. Quantitative Management (also known as Operations Research) offers a systematic and scientific approach to problem solving and decision making in complex environments and situations of uncertainty and conflict. The discipline is characterised by a search for an optimal (best) answer for a problem by using quantitative (numerical) models. The use of mathematical models enables a decision maker to bett er understand the problems facing him/her and provides a tool for making informed and reasoned judgements. It can be applied in many areas: manufacturing, businesses management, banking, environmental planning, mining, housing and engineering projects, management consultancy – in fact, in every situation where numerical data are available and management or decision making takes place. 4. The process approach is a management strategy. When managers use a process approach, it means that they manage the processes that make up their organization, the interaction between these processes, and the inputs and outputs that glue these processes together. There are 12 typrs of processes: 1. Quality Management Process 2. Resource Management Process 3. Training and Awareness Process 4. Product Purchasing Process 5. Design and Development Process 6. Production Management Process 7. Service Provision Process 8. Product Management Process 9. Customer Relationship Management Process 10. Internal Quality Management Audit Process 11. Monitoring and Measuring Process 12. Management Review Process 5. The contingency approach believes that it is impossible to select one way of managing that works best in all situations like promoted by Taylor. Their approach is to identify the conditions of a task (scientific management school), managerial job (administrative management school) and person (human relations school) as parts of a complete management situation and attempt to integrate them all into a solution which is most appropriate for a specific circumstance. Contingency refers to the immediate (contingent or touching) circumstances. The manager has to systematically try to identify which technique or approach will be the best solution for a problem which exists in a particular circumstance or context. An example of this is the never ending problem of increasing productivity. The different experts would offer the following solutions: Behavioral scientist: create a climate which is psychologically motivating; Classical management approach: create a new incentive scheme; Contingency approach: both ideas are viable and it depends on the possible fit of each solution with the goals, structure and resources of the organization. 6. Applying the principle of system approach to management typically leads to: – Structuring a system to achieve the organization’s objectives in the most effective and efficient way. Understanding the interdependencies between the processes of the system. – Structured approaches that harmonize and integrate processes. – Providing a better understanding of the roles and responsibilities necessary for achieving common objectives and thereby reducing cross-functional barriers. – Understanding organizational capabilities and establ ishing resource constraints prior to action. – Targeting and defining how specific activities within a system should operate. – Continually improving the system through measurement and evaluation. How to cite Classical Management Theorists Frederick Taylor and Henri Fayol, Papers