Abstract This paper discusses the importance of ethics in the managerial decision making process. In the competitive corporate world of today, it is extremely important for companies to base their decisions on ethically accurate and morally sound principles. Since managers are the decision makers in the firms, the responsibility of incorporating ethics into everyday decisions lies with them, and, therefore, they play a key role in weaving ethics and morals into the company's fabric.
Abstract This paper reviews an article on the WorldCom scandal, and discusses how this article relates to 7-Eleven Inc. Also, based on the article, the paper discusses recommendations for improving accounting procedures at 7-Eleven, and explains the importance of ethics in accounting.
From the Paper "An article written by William Thomas and Thomas Morris discusses the Enron and WorlCom accounting scandals. In April of 2002, internal auditors discovered a $9 billion fraud. Unlike Enron, WorlCom has improperly reported capitalized expenses (Thomas and Morris). This was the largest amount of accounting fraud in U.S. history. Former CFO Scott Sullivan, who was the ?chief architect of the fraud,? pleads innocent to the original charges. Arthur Andersen was the accounting firm that was involved in both of these accounting scandals. This indiscretion caused the stock market to plummet, and many people lost thousands of dollars. Executives profited from this accounting fraud. The revelation of accounting fraud sent shockwaves through the investment community. Thousands of people lost much of their lives? savings in these accounting scandals. The devastation of this fraud caused President Bush to take a tough stance on corporate fraud."
Abstract This paper explains that Starbucks Corporation's target markets are determined through demographic segmentation, particularly age segmentation, and are generally classified into two divisions, college students and business executives. The author points out that the Starbucks Corporation's pricing strategy is largely based on competition. With prices ranging from a minimum of $8 and a maximum of $18, Starbucks coffees are in the average price range for the specialty coffee market. Starbucks? wide range of business activity allows it to utilize numerous channels of product distribution. The paper relates that the company adapts vertical channel integration, wherein the corporation owns and operates its own production facilities, warehouses, and retail stores.
From the Paper "The introduction of new products in the company is seen through the promotion of the following products: the ready-to-drink Starbucks Doubleshot, Starbucks Ice Cream, and Starbucks Coffee House Blend brand. The RTD drink Doubleshot is a new Starbucks product aimed to satisfy the needs of consumers who are always in a hurry. Thus, Doubleshot is a Starbucks product that is ?[t]he ideal way to start a busy day!? Meanwhile, Starbucks Ice Cream is a product aimed mainly to college students who love the traditional Starbucks traditional coffee beverage taste ice cream form, and this product is available in six (6) flavors. Lastly, the special signature brand House Blend Coffee of Starbucks introduces a new way wherein home-based consumers will also enjoy the goodness of Starbucks coffee. This product comes in different flavors (ranging from African, Arabian, to French Roast flavors), customized to fit the coffee-lover's taste and need for new, yet, equally delicious taste of the traditional Starbucks coffee."
Abstract In his thought-provoking book, Eric Schlosser argues that America's fast food franchises have played a major role in contributing to the obesity and ill health of Americans. This paper shows how Schlosser argues that fast food giants have contributed to urban sprawl, negatively impacted American culture, and have had a largely negative impact. The author of the paper shows that Schlosser's thesis is largely convincing, due to both his careful analysis and his powerful and effective writing style. The paper shows that the book makes the reader challenge many long-held convictions about the fast food industry in America and worldwide.
From the Paper "Despite his heavy thesis, and depressing conclusions, Fast Food Nation offers some hope for the future. He notes, "there is nothing inevitable about the fast food industry", and argues that careful legislation could help to lessen the impact of fast food advertising on America's children. At the end of the book, he calls Americans to action, and urges them to press for changes in the fast food industry, noting that Americans can still "have it your way", an obvious take on McDonald's famous advertising slogan. Further, his engaging writing style also helps to keep the book from becoming overbearing and depressing."
Abstract This report examines the success and future potential of one of the new players in the airline industry. JetBlue is a fairly new organization that has been very successful in spite of the airline industry's recent demise. This report defines the domestic airline industry as it applies to JetBlue by doing an analysis of JetBlue's external environment, opportunities, and threats. By reviewing the industry life cycle, macro environmental trends, competitors, strengths, and weaknesses of three major competitors, like Southwest Airlines, the paper assesses the company's internal strengths and weaknesses.
From the Paper "The situation in the airline industry is near dire. Major airlines such as American Airlines, Delta, United and Continental have all considered or are pursuing bankruptcy as a way to stave off ultimate organizational collapse. Since deregulation, the only alternative for the major airlines has been bankruptcy as a way to remain solvent. The events of September 11, 2001, where terrorists hijacked jetliners and used them as missiles to attack several sites including the World Trade Center and the Pentagon are thought to be the reason the airline industry is in such financial trouble."
An industry report on Starbucks, including early years, vision, strategy, industry analysis, competitive analysis, situation analysis, financial analysis and case recommendations.
7,089 words (approx. 28.4 pages), 11 sources, 2001, $ 158.95
From the Paper "Starbucks is a well-managed, aggressive company that has achieved consistent growth since its inception. The company has earned its place in business history as an innovative first-mover and has established a brand that is synonymous with quality. Starbucks sells premium coffee beverages and beans through company-owned and licensed retail outlets. The company's stated objective is "to establish Starbucks as the most recognized and respected brand of coffee in the world". Through its retail outlets, the Seattle based company also sells bakery goods, confections, and coffee equipment and merchandise. The company has expanded both its product line and its marketing channels as it has grown. To serve these new channels, the company has partnered with several high-profile corporations, including PepsiCo, Dreyers, and Barnes & Noble. Starting with 17 stores in 1987, Starbucks has grown to 2,619 company operated stores located throughout the United States, Canada, and the United Kingdom exceeding the established goal of 2000 locations by year 2000. Starbucks is just beginning its international expansion, and plans to focus first on Asian markets."
From the Paper "Statistics is a branch of mathematics dealing with the collection, organization and analysis of numerical data the application of this information to make informed decisions in a variety of applications. Statistical results may be used to forecast business trends, define the extent of prevailing opinion throughout a given population, changes in availability of resources or assets, and provide quantifiable answers to questions in almost every type of business, social or political area. (Encarta) Professor Edwards of the Andover Theological Seminary defined statistics as ?the ascertaining and bringing together of those facts which are fitted to illustrate the conditions and prospects of society."
Abstract This paper presents an analysis of sexual harassment in the workplace. The author discusses background of sexual harassment, legalities of sexual harassment and business strategies to reduce sexual harassment in the workplace such as various policies and requirements.
From the Paper "In 1964 Title VII of the Civil Rights Act was accepted into our nation's law. Since then sexual harassment has been added as a protected class under Title VII. Unfortunately, it has taken many high-profile lawsuits such as the Anita Hill Senate hearings, Faragher v. Boca Raton, and Crowley v. L.L. Bean for employers to understand that it is imperative for every company, no matter how big or small, to have a well-thought out plan for dealing with sexual harassment situations. It is also crucial that these organizations make sure their employees are completely aware of the procedures to follow if such a situation arises. Not only should companies have guidelines in this area, but they should also make it clear where they stand on relationships between employees and how sexuality is viewed within the company, because what is acceptable in one instance may be unacceptable in another. One of the most common reasons sexual harassment situations evolve into multi-million dollar lawsuits is because the victims are not made aware of their organization's policies or their claims are not properly dealt with by the organization. By taking a few simple preventive measures, the probability that a lawsuit will arise from a sexual harassment is minimal, making the workplace better for both employees and employers."
Abstract Report on the importance of leadership with respect to the five functions of human resource management: planning, organizing, staffing, leading and controlling. The author investigates to what extent leadership is a requirement for the effective accomplishment of these functions.
From the Paper "The Leader is interested in aligning the beliefs and values of people with the overall goals and vision of the organization. In the Leadership role one can bring about change by providing direction, by setting an example, by motivating through inspiration, and by building teams based on respect and trust. A leader is focused on results rather than methods, systems and procedures. Leaders ask themselves "For what purpose?" and "What are the consequences for the system as a whole?" (Chait, 1997). In relation to planning, organizing, staffing, leading and controlling, leadership plays a vital role in determining these activities within an organization."
Abstract The paper discusses the effects of downsizing on employee morale and overall organizational performance. The author comments on the approaches that management should adopt to overcome the negative effects of downsizing.
From the Paper "Due to the recent slump in overall business, many organizations are considering to downsize their operations in order to minimize their losses and save themselves from further losses in future. However, the top management of any company must consider the consequences of shutting down its several operations and lying off employees, on the employee moral and the motivation to work among employees. Companies not only downsize at the time of recession but they usually lay off employees for several others reasons as well. It is usually claimed that downsizing is done in order to quickly improve profits, a company in trouble identifies its largest expenses, which is in most of the cases payroll and starts laying off. The reasons mostly used as a basis for downsizing by companies are organizational restructuring, a slump in business and business process reengineering.'
Abstract This paper describes the history of the Enron Corp. and what led to its bankruptcy which the author sees as a product of management's greed, shady, yet legal accounting practices and a web of influence created through large campaign donations.
From the Paper "Enron created various types of contracts that protected both the buyers and sellers in case of price fluctuation over the length of the contracts. This new marketplace allowed energy users to predict and stabilize costs far into the future. This strategy created by Enron was based on the belief that it could be a big energy player without owning all of the power plants, ships and pipelines that most companies owned. Instead they would use contracts to control facilities in which other had invested. By 2001, Enron had evolved into a market maker for some 1,800 different products, many of them energy- or Internet-related contracts or derivatives the company had created itself.[i]"
Abstract This paper outlines a Wall Street Journal (WSJ) article about WorldCom's restatement of $7.2 billion in expenses and subsequent financial collapse. The basis of why the editors of the WSJ considered the story leading financial news is explored. Issues related to the study of finance include capital markets and institutions, investments, and financial management. Of particular interest are the financial management issues of accountability, financial statement accuracy, ethics, fraud and corporate responsibility.
From the Paper "The financial collapse of WorldCom occurs in the wake of the recent Enron financial scandal. The Wall Street Journal editors correctly categorize the WorldCom story as "leading the news" (Sandberg & Pulliam, 2002, A3). Attesting to the newsworthiness of the WorldCom story is the fact that this event is being covered in all major news outlets: print, radio, television, and on the web."
Abstract This paper analyzes the conflicts between the new economic world and the traditional cultures. "Jihad" refers to the cultures that focus more on traditional values. It does not simply refer to the Islamic notion of the word, but includes anyone who is opposed to the new modern west. Jihad is slow, personal, and stagnant. "McWorld" is the over-all notion of the consumerist west. McWorld is fast-paced, information-based and ever changing. Members within McWorld are in favor of individual rights and personal advancement over the culture as a whole. The paper concludes that Jihad and McWorld must learn to work together all over the world.
From the Paper "In his book, 'Jihad vs. McWorld', Benjamin Barber takes a view of the new economic world as it relates to those cultures that are hanging on to traditional values. There is a basic conflict between these two ideologies: tribal control vs. technological and economic upward mobility. Barber describes each these two schools of thought, and how they work for and against each other."
Abstract The paper looks at the effects on investment and employment that the bankruptcy of Enron has had on the economy. The positive effects on accounting standards and procedures are also highlighted.
From the Paper "The world's biggest bankruptcy ever, caused by fraud, misleading accounts and less than honorable, although legal, auditing practices was filed on December 2, 2001-shattering the integrity and trust of even the most credible businesses that will never be replaced. (Economist Editors, The Enron Scandal, paraphrased). Now, no business is above suspicion. Some experts believe that the Enronitis has had more of an impact on the economy than the terrorist attacks. This report will be discussing the impacts The Enron Downfall had on the economy."
Abstract This paper looks at corporate social responsibility and the importance of ethical behavior by management in business. The author stresses the importance of acting responsibly and how the manager's actions and reactions set the tone for their employees. According to this argument, a manager acts unethically, they certainly cannot be upset when one of their employees acts in a similar manner. The manager must set an appropriate tone in order to guarantee the success of their department and therefore of the company. The author presents and discusses several business situations where an employee, or management were in a situation that required them to choose between ethical and unethical behavior.
From the Paper "The importance of acting according to one's own personal values cannot be overly emphasized. It is rare indeed that a person in today's economy will work for a single company for their entire lives. But a person will always keep their conscience and a sense of having acted correctly is far more important and far more enduring that the temporary advantage one might achieve by acting in an immoral fashion. It is always possible to find another job (although it may not pay as well or be as socially prestigious). But it is never possible to undo a wrong that one has committed, and this distinction must be remembered at all times. Managers who set an example by acting themselves ethically at all times do a great service to their companies and do much to contribute to an atmosphere in which not only will their employees be ethical but that they will also be content."
