Ethical Codes Of Conduct Are Secondary Thoughts - 1531 Words

Enron, WorldCom and Bank of Credit and Commerce, just to name a few, runs chills up and down the spines of, well, just about everybody. These scandals swirled around several large businesses, and hinged on unethical practices – unethical accounting practices, specifically. The idea of ethics is a hot button these days in all genres. In fact, universities and colleges are including ethics in the curriculum of every discipline instead of offering an ethics major, per se (Kanaiah Kumar, 2009). It seems that ethical codes of conduct are secondary thoughts after the critical elements of a chosen discipline, when in actuality; ethics are a common thread across the disciplines. When considering accounting and ethics, the implications of†¦show more content†¦In addition, and maybe most important to the layperson, an auditor does not prepare financial statements, nor do they determine the amounts included in said financials. In essence, an auditor sets the stage to a co mpany’s claim to reliability and accountability to its stakeholders. To that end, ethical standing is essential. Ethics In a perfect world, a company does not commit fraud or some other action to deprive its stakeholders standing, financially or otherwise. However, since the world is a smidge short of perfection, there are some checks and balances to protect stakeholders. Usually, a company’s accountants are such that the financial credibility is maintained internally and then confirmed by an auditor externally with the minimum of adjustments. If internal controls are ineffective, and a company is determined to undermine its stakeholders financially, those types of incidents are reined and culpable accounting practices are discovered by an auditor’s refusal to endorse the financials associated with said business. If the external process fails, the business’ potential viability fails. This has been proven over and over and quite famously. With all that having been said, it is safe to assume that auditors are not perfect; and commit ethical failure as the Arthur Andersen firm did with Enron. There are many ways or reasons

Good vs. Evil, Wrong vs. Right, and Ought/Should Be vs....

Good vs. Evil, Wrong vs. Right, and Ought/Should Be vs. What Is Group B: Question 1: An office worker had a record of frequent absence. He used all his vacation and sick leave days and frequently requested additional leave without pay. His supervisor and co-workers expressed great frustration because his absenteeism caused bottlenecks in paperwork, created low morale in the office, and required others to do his work in addition to their own. On the other hand, he felt he was entitled to take his earned time and additional time off without pay. Was he right? Answer: I feel that yes the office worker was entitled to take his earned time and additional time off without pay but I think how he went about doing so was wrong. Also, it†¦show more content†¦Answer: This could be a very bad situation for Rhonda because one of her friends could overhear them and this could cause problems not only in their friendship but at work also. Rhonda is wrong in thinking that it does no real harm and feeling no remorse for joining in because this decision she made can end up biting her in the rear. Just like these fellow employees are gossiping about other people, she can be sure when she is not around, they are going to be gossipingShow MoreRelatedCivilization Versus Savagery in Goldings Lord of the Flies Essay807 Words   |  4 Pagesnature of man. Golding uses symbols, characters and objects to represent his main ideas and themes. The conch was used to call meetings but is also symbolic of the government structure and power. One of the main themes in the novel â€Å"Civilization vs. Savagery† is fought between two egos, Jack the Id who represents savagery and the desire for power and Ralph the Ego and protagonist, who represents order and leadership. 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Riordan’s Competitive Advantages Free Essays

Riordan’s Competitive Advantages The research will describe which competitive advantages Riordan has in common with McDonald’s and Burger King. This study will estimate, which competitive strategies Riordan could use to improve innovation and sustainability of business operations both in the United States and in the global market. Research will explain why those competitive strategies were chosen and estimate how they may affect sustainability of long-term organizational performance. We will write a custom essay sample on Riordan’s Competitive Advantages or any similar topic only for you Order Now The examination will also explain how the global market would affect the business strategy of Riordan. Riordan Organization McDonald’s and Burger King The McDonald’s Corporation and the Riordan Manufacturing Company are both main industry leaders in their own field. One major competitive advantage that each company has in common is differentiating their products. Each company has a variety of items that meets the need of their consumers. The three companies sell both nationally and internationally. Burger King, Riordan, and McDonald’s increase their sales by offering price discounts, and sale promotions to ensure that their prices are affordable to everyone in need. All three companies use cost leadership, focus, and differentiation tactics to gain a competitive advantage over their competition. Another commonality between the three companies is that they use some type of reward and incentives program to ensure that they are recognizing their employees for operational excellence. Riordan Innovation Strategies Innovation Riordan could increase innovation and sustainability for the business operations in the United States of America and globally by implementing a strategic capacity plan. This plan will increase effectiveness, add improvement to its supply chain, and implement the methods and concepts of lean production to gain value and over time help sustain competitive advantage. Strategic capacity planning starts with better use of resources by reducing waste of raw material and producing products in good time at a lower cost. Riordan should make sure it has stock available and on the shelf, which will allow the inventory cost to rise. Riordan can increase its competitiveness by using farsighted capacity planning, by making use of the breakeven analysis of financial statements. This will help Riordan improve the process that it already uses, and by using the just-in-time inventory, which would help the company in the area of its operation processes. These strategies can be implemented by ensuring a better eye for detail, adding the key values of extreme precisions and enthusiastic quality control to help continued success in the future. Business Decisions Differentiation and cost leadership were two strategies chose because they are the most common between the different companies. Amazingly two leading organizations from different industries are using the same competitive strategies and tactics. The two competitive strategies may be the reason both organizations are leading within their industries. Differentiation is a type of competitive strategy with which the organization seeks to distinguish its products or services from competitors (Valdehueza, 2009). Riordan’s organization sells heart valves, plastic bottles, fans, and medical stents. Clearly, they have a large variety of products. According to Valdehueza, cost leadership is a competitive strategy with which the organization aggressively seeks efficient facilities, cuts costs, and employs tight cost controls to be more efficient than the competition. Decreasing business costs every way possible while providing customers with a high quality product is a definite way to ensure an advantage over the competition. Sustainability When organizations master’s cost leadership, and differentiation they will began to meet and exceed long-term goals. The organizations can use these two strategies for every business situation they may encounter. Proper use of both strategies will result in sustainability and organizational performance. Competition between companies will create a winner and a looser. In the competition process in efforts for the winners to win, they have to increase consumer value to satisfy the customer. This method alone will create long-term sustainability within the corporation. Organizations create customer loyalty by increasing consumer value in efforts to surpass the competition. Continual improvements of this particular process will sustain long-term organizational performance, and operational excellence. Global Market Affect Business strategy The globalization of markets is the merging of historically distinct and separate national markets into one larger global marketplace (Hill, 2009). With any form of globalization, companies will have to understand international measurement issues. Riordan’s Plastic began with international measurement in efforts to prepare the company for the global market. According to Hill, the globalization of production is the sourcing of services from one location around the world to take advantage of national differences in the cost of factors or production in labor energy, land, and capital (2009). International measurement issues include return on investments (ROI), budget analysis, and historical comparison (Wheelen Hunger, 2010). Dr. Riordan insisted on using their resources as a tool to increase profits when he started this company. This way when Riordan became international customer satisfaction and the rate of return was the most important factors. Riordan also needed a budget analysis as well as a historical comparison to maintain global success. Conclusion One major competitive advantage that each company has in common is differentiating their products. Each company has a variety of items that meets the need of their consumers. All three companies use cost leadership, focus, and differentiation tactics to gain a competitive advantage over their competition. Riordan can increase its competitiveness by using farsighted capacity planning, by making use of the breakeven analysis of financial statement, which will help Riordan improve the process that it already uses, and by using the just-in-time inventory, which would help the company in the area of its operation processes. Differentiation and cost leadership were two strategies chose because they are the most common between the different companies. When an organization masters cost leadership, and differentiation they will began to meet and exceed long-term goals. Continuous improvements of this particular process will sustain long-term organizational performance, and operational excellence. Riordan also needed a budget analysis as well as a historical comparison to maintain global success. References Chauhan, S. , Nagi, R. , Proth, J. (2004) Strategic capacity planning in supply chain design for a new Market opportunity International Journal of Production Research 42(11), p. 2197 – 2206 Hill, C. W. (2009) International business competing in the global marketplace (7th ed. ) Boston, MA: McGraw-Hill Shields, T. 1999) Tutorials – lean production / lean manufacturing Defense Acquisition University. Retrieved January 31, 2012, from http://www. dau. mil/educdept/mm_dept_resources/navbar/lean/01rdg-lean. asp Valdehueza, Gregar, D (2009) Strategy Formulation, and Implementation Retrieved from: http://www. slideshare. net/gar_dev/strategy-formulation-and-implementation-1224519 Wheelen, T. L. , Hunger, J. D. (2010) Concepts in strategic management and business policy: Achieving sustainability (12th ed. ) Upper Saddle River, NJ: Pearson/Prentice Hall How to cite Riordan’s Competitive Advantages, Papers

Just-In-Time Manufacturing free essay sample

A study of the method of Just-in-Time manufacturing for business organizations. This paper examines the use of the Just-in-time manufacturing method. It describes the key strategy behind just-in-time manufacturing: less inventory means more cash, which is good for most businesses, and demonstrates the application of this principal. The author writes that with Just-in-time manufacturing, stock is wasteful and eliminated, but there are also negative effects on the environment involved in this alternative process. Just-in-time manufacturing is a method of manufacturing goods that was developed by Toyota in the 1980s. Since that time, many companies around the world have begun to successfully implement just-in-time processes, including several companies in the United States. (Maskell, 1989) Just-in-time manufacturing is a method of manufacturing in which non-value-adding activities (or are identified and removed for the purposes of reducing costs, improving quality, improving performance, improving delivery, adding flexibility and increasing innovativeness.