Applied Concept Paper: Critical Thinking Structures for Business Ethics Essay

Executive Summary The purpose of this paper is to demonstrate my understanding of the previously mentioned fundamental concepts and capability in order to relate them to the actual business world through applications of my critical thinking skills. Key concepts such as ethics, social responsibility, whistle-blowers, sustainability, stakeholders, and environmental stewardship are mentioned in Chapters 3 and 4 of (Wheelen, 2012). This paper discusses recent articles regarding ethics in the Atlanta Public School Systems, a violation of the code of ethics by the former HealthSouth CFO back in 2010, and Wal-Mart’s latest ethics controversy. In addition, this paper targets important concepts such as social responsibility, sustainability; environmental stewardship and how they affect the stakeholders of Patagonia Clothing Company, Carlportland, U.S Silica and Lucky Stone Company. These companies have proven themselves to be in the forefront of sustainability initiatives through their everyday practice s. From this research, I learned that adhering to the Code of Ethics in the business world is important on many levels. It guides all managerial decisions, creating a common framework upon which all decisions are founded. In order for companies to fully meet their social responsibility, they should have in place a process to integrate social, environmental, ethical and human rights concerns into their business operations and core strategy. Furthermore, the concept of sustainability has come to the vanguard of the global understanding that economics, environmental health and human well-being are interconnected. This ultimately demonstrates that generating high-quality products in a responsible way increases brand reputation, competitive advantage, and most importantly financial success. Abstracts * Investigation into APS Cheating Finds Unethical Behavior Across Every level This article talks about how across the Atlanta Public School system (APS), staff members worked in secret to cheat on testing results. The report accuses top district officials along with school teachers and administrators, of wrongdoing which had been happening for years. In some schools, cheating became a routine, a part of administrative duties during the annual state examinations. It grew into an organized crime of falsifying test results for children who could not score high enough to meet the district’s self-imposed goals. In addition, Beverly Hall, former superintendent, and her top aides, lied to top investigators, destroyed and altered public records, tampered with information, and misled police to avoid taking responsibly for their unethical behaviors. This resulted in a culture of fear, intimidation, and retaliation in the APS. * Former Health South CFO Talks to Business Students About Wo rkplace Ethics This article discusses the ethical challenges that many CFOs face in the workplace. Aaron Beam, former HealthSouth CFO, served prison time for forging the company’s finances and breaking the code of ethics. Beam warned students of the ethical dangers in today’s workforce. He mentioned why accountants and CFOs get trapped into lying, and feel intimidated by their superiors. In this article, Bean touches on many important points, such as, how money changes people, how having more personal possessions does not guarantee happiness, and most importantly, how we need to stand by our principles and ethics all the time. After spending three months in the Montgomery jail, Beam learned his lesson; he wrote a book, opened a lawn service business, and decided to share his experience with business students in universities across the nation. * Wal-Mart’s Ethics Controversy This article debates how an employee ended up jobless after following the Wal-Mart ethics guidelines. Chalace Epley Lowry started working for Wal-Mart in January of 2006, and after a few days at the job, she witnessed unethical behavior from the VP of her department. Lowry suspected that Ms. Williams, the VP of Corporate Communications might have traded inside information about the company’s stock. She questioned it and filed a formal complaint with her immediate supervisor; she thought that it was the honorable thing to do. In return, her identity got disclosed to the offender, making it uncomfortable in her position since Mona Williams was effectively her boss. Also, she got a lower performance review, and when she complained, she was told to find another job. * Patagonia: Blueprint for Green Business The above article is the story of how Patagonia, an outdoor-clothing and equipment firm, and its founder, Yvon Chouinard, took his passion for the outdoors and turned into a successful business. By conducting business in a non-traditional way, Chouinard created a company with a different outdoor style that makes $270 million in yearly revenues. This organization is among one of the first in America to provide onsite daycare, as well as both maternity and paternity leave, and flextime. Patagonia reuses materials, questions growth, ignores fashion, makes goods that last, and discontinues profitable products. With a laidback atmosphere for employees, its production is at full capacity. Mr. Chouinard’s biggest dream is to turn Patagonia into a totally sustainable, ECO friendly company, where people enjoy coming to work, and he can sleep well at night. * Pursuing Sustainability Business Initiatives, a Large Business In this article, the National Stone, Sand and Gravel Association (NSSGA) recognizes their large producers’ member companies, which are pursuing sustainability initiatives through their everyday practices. The first one, CalPortland Company, one of the major producers of Portland cement, has been pursuing environmental stewardship for years. The second one, Lucky Stone Company, one of the largest family-owned and operated aggregates companies in the U.S, has an excellent environmental reputation. And the third one, U.S. Silica, is a leading producer of industrial minerals which recently adopted a formal sustainability policy. This article also emphasizes what these companies have in common and highlights the benefits companies will obtain by making sustainable decisions now. Concepts Ethics is defined by the textbook as the consensually accepted standards of behavior for an occupation, a trade, or a profession. There is no worldwide standard of conduct for business people. This is especially true given the global nature of business activities. Cultural norms and values vary between countries, ethnics groups and even among geographic regions (Wheelen, 2012). A Code of ethics specifies how an organization expects its employees to behave while on the job. â€Å"A code of ethics, (1) clarifies company expectations of employees conduct in various situations and (2) makes clear that the company expects its people to recognize the ethical dimensions in decisions and actions.† (Wheelen, 2012). Whistle-blowers are defined by the author of the textbook as those employees who report illegal or unethical behavior on the part of others. Even though the Sarbanes-Oxley Act forbids firms from retaliating against anyone reporting unethical acts, 82% of those who uncovered fraud reported being ostracized, demoted or pressure to quit (Wheelen, 2012). The concept of Social Responsibility as it is explained in the textbook proposes that a private corporation has responsibilities towards the society that extend beyond making a profit. Many business people have agreed upon the main responsibilities of a business, which are Economic, Legal and Ethical. Being socially responsible does provide a firm a more positive overall reputation (Wheelen, 2012). Sustainability may include more than just ecological concerns and the natural environment. It can also include economic and social aspects. In the business environment, in order for a firm to be sustainable, it must be successful over a long period of time; and it must satisfy all of its economic, legal, ethical, and discretionary responsibilities (Wheelen, 2012). Stakeholders are a large group of people with interest in a business organization’s activities. This group gets affected by the achievements or failures of the firm’s objectives (Wheelen, 2012). Some examples of Key Stakeholders are: creditors, directors, employees, government agencies, shareholders, suppliers, unions, and the community where the business operates. Environmental Stewardship refers to responsible use and protection of the natural environment through conservation and sustainable practices. Environmental stewardship defined in simple terms as â€Å"dealing with man’s relation to land and to the animals and plants which grow upon it† (Leopold, 2013). Analysis The article about the APS unethical practices touches on one important concept: Ethics. For years the Atlanta School District produced gains on state curriculum test by cheating on student’s exams. Years of misconduct took place at all levels of the organization, from the top of the chain of command to the Superintendent’s office. The cheating prevented many struggling students from getting the extra help they needed (Vogell, 2011). It also created an atmosphere of stress and deception among school employees. Top investigators in the case came up with three possible reasons that cheating flourished in APS. 1. The district set unrealistic goals, and pensions and raises were based on the test results. 2. Because the target test results rose every time the school reached the goal, the pressure rose. Cheating was, therefore, the only way to obtain the results. 3. The top officials refused to accept responsibility. However, I disagree with those three reasons. Just because g oals are unattainable, that does not mean we have to act unethically. Once the cheating started, it could not be stopped. It collapsed on itself, as lying usually does. If top leaders refused to take responsibility, it was their choice. We, as individuals, have to be responsible for our own actions. Teachers are responsible for helping students become better members of society; this includes teaching them good citizenship skills. There are always grey areas in professional codes of ethics because there are many areas that are subjective. Personal integrity and honesty are required by all who agree to follow a code of ethics. If an educator observes someone practicing unethical behavior, it is his/her duty to report such behavior through the proper administrative channels. In the article that talks about the former CFO of HealthSouth, Aaron Beam, he warned students about the ethical challenges that are in the workplace. I especially enjoyed this article because it touches an important subject, the code of ethics. Even the most ethically-aware professionals find their standards challenged on a daily basis . As accountants, part of the code is to represent the public interest, and sometimes that may mean putting it ahead of the company’s interest. As a CFO, that duty is heightened. In addition, the first people employees look to are the CEO and CFO to see if they have a real commitment to ethics. If they behave unethically, employees are likely to do so as well. A respectable CFO must be able to stand up to his/her boss with integrity and to speak unpleasant truths when necessary. Not only can inappropriate behavior lead to compliance failures, fraud, and theft, but the consequences can adversely affect employee morale and the firm’s reputation. An ethical framework is built by making the right choices in the little things. â€Å"Integrity is doing the right thing, even if nobody is watching† (annonymus). In the third article about Wal-Mart, we see an employee who is following the company’s code of ethics and acts as a Whistle-blower when she suspected an unethical act was committed by her department head. It is important to note that â€Å"Wal-Mart prides itself on having one of the strictest and most st ringent ethics policies in the retail industry† (Gogoi, 2007). However, that was not true in this case. Instead of rewarding Ms. Lowrey for such a heroic act, her identity got exposed, and she was encouraged to find another job within the company in 90 days. She even experienced a lower performance evaluation after the incident. She felt disappointed to see the way an ethics complaint was handled by a corporation like Wal-Mart. Most of Wal-Mart scandals are perpetuated by a culture of silence. Rather than addressing the concerns that are affecting workers across the country, Wal-Mart has attempted to silence those who speak out for changes that would help the company, workers, and the community. As front line Wal-Mart workers are facing hardships, the company is making almost $16 billion a year in profits. Meanwhile, the Walton Family (heirs to the Wal-Mart fortune), are the richest family in the country. All of this has taken a toll on Wal-Mart’s image. Some people will not shop at Wal-Mart because they do not want to support a company t hat they perceive is unfair to its workers. Reading about Patagonia got my attention, since I have purchased their outdoor products without really knowing the company’s history. This unique business is conducted upside down and inside out. Decades before recycling became a common practice, Patagonia was already reusing materials. The company’s founder believed in putting the Earth first, by attaining sustainable practices, while making unbelievable profits ($270 million in revenues yearly). This company would not release toxins into rivers or chase endless growth. All of Patagonia’s products are produced with the highest level of quality and manufactured in the most socially responsible way. Patagonia became the first company in California to use renewable sources, like wind and solar energy, to power all its buildings and one of the first to print catalogs on recycled paper. With a payroll of 350 employees, the boss greets them by name. At the sweatshops facility, workers overlook a playground of the comp any’s day care facility. The people that works there are anything but slackers: â€Å"it was impressive to see how involved in sustainability their employees are,† said Matt Kristle, a senior vice president of Sam’s Club (Casey, 2007). In addition, the owners agree to keep Patagonia privately held and say no to anything that may compromise their values. Also, a good portion of the company’s profits is being donated to grass roots organizations, $26 million since 1985. As a company, all of the stakeholders are really committed to doing the right thing. That is why Patagonia serves as a blueprint for future businesses that want to follow this path. In the last article I chose, there are three companies within the same industry that pursue sustainability initiatives through their everyday practices. They all agree that environmental stewardship and social responsibility can interact to increase stakeholder value as well as shareholder value, (Schlett, 2011). U.S Silica, CalPortland and Luck y Stone voluntarily assist their communities in resolving the issues that affect them. For example, CalPortland, does material donations for the City of DuPont’s war memorial. Lucky Stone collaborates with the James River Association to create a spawning reef for the endangered Atlantic sturgeon species. U.S. Silica’s effort to protect an endangered turtle species near Pennsylvania plant is admirable, as well as helping feed local homeless people once a month. By helping their communities to resolve social issues, these companies are helping themselves by increasing brand value and reputation, improving their license to operate, and reducing their risks. Conforming to environmental laws is not enough anymore. Consequently, pursing environmental stewardship elevates an organization into the â€Å"Risk Management† category. And that, when implemented together with social responsibility initiatives for greener products and processes, moves the company into the â€Å"Business and Sustainable Development.† A good example of that is that all three companies have been working through their environmental management systems to go beyond compliance by implementing Best Management Practices. By encouraging a culture of environmental and social stewardship, these three large producers are at the forefront of sustainability, and as a result they are recognizing financial and sustainable success. Conclusion After carefully analyzing all the articles, I came to the conclusion that all those concepts are intrinsically related. It is important to understand that business ethics go beyond legal issues. Ethical conduct builds trust among individuals and in business relationships, which validates and promotes confidence between people. One of the principal causes of unethical behavior in organizations today is overly aggressive financial or business objectives. Abusive or intimidating behavior is another of the most common ethical problems for employees. Making ethical choices is sometimes the most difficult thing, especially when the one losing out is you or your business. Yet, for the greater good and the sake of mankind, one has to look at business as well as personal ethics and evaluate them periodically. All professions have a set of values that are the cornerstone of their belief system and the foundation of their practice. A Code of Ethics is important on many levels. It sets the â€Å"tone from the top† of the company’s culture. An effective Code of Ethics establishes the ethical expectations for employees and management alike and sets forth the mechanisms for enforcement and consequences of noncompliance. There are four dimensions of social responsibility: economic, legal, ethical, and voluntary, including philanthropic. Earning profits is the economic foundation of any company, and complying with the law is the next level. However, a business whose sole objective is to maximize profits is not likely to consider its social responsibility, although its activities will probably be legal. Sustainability is the balance between people and the environment. Air, water, and land are all impacted by the behavior and actions of human beings, but these impacts can be controlled. The challenge for companies in the twenty-first century is developing an environmentally responsible strategy that keeps them ahead of the game, helping them maintain an advantageous position in the marketplace. It is not enough to simply check boxes, publish a sustainability report, or reduce waste in factories. Companies must be truly innovative in terms of how they manage their relationship with the environment. Works Cited Casey, S. (2007, May 29). Patagonia: Blueprint for Green Business. Retrieved from http://cnnmoney.com. Gogoi, P. (2007, July 13). Wal-Mart’s Latest Ethics Controversy. Retrieved from http://www.Bloomberg Businessweek. Leopold, A. (2013, January 31). Aldo Leopold Quotes. Retrieved from aldoleopold.org: http://www.aldoleopold.org/greenfire/quotes.shtml Schlett, W. (2011). Pursuing Sustainable Business Initiatives, a Large Business. Stone, Sand & Gravel Review , 44-48. Vogell, H. (2011, July 26). Investigation Into APS Cheating Finds Unethical Behavior Across Every Level. Retrieved from http://www.ajc.com. Wheelen, T. L. (2012). Strategic Management and Business Policy: Towards Global Sustainability (13th ed.). Upper Saddle River, NY: Prentice Hall.

Childrens literature Essay

Child development was broken down into four theories. These theories focused on intellectual and cognitive development as well as social development and moral judgment development. Theoretical models can be applied to children’s literature by different kinds of books. Children in the younger ages enjoy books like Dr. Seuss the cat in the hat or The Bernstein bears books that focus on things like right from wrong and education. Children learn from these kinds of books at a young age and the books can be related to their lives. As children get older books become more meaningful and become something they can relate to. Harry Potter and the Sorcerer’s Stone is the book I chose, because I felt like it was well known and something children could connect to and enjoy. The story of Harry Potter can be related to by many children. The trials the he faces as a boy living with his aunt and uncle in the â€Å"non-magic† world can be understood by some who have encountered the same things. He was unappreciated, bullied, made fun of, and treated unfairly just because he was unliked. On his eleventh birthday he finds out that he is actually a wizard and there is a school for kids just like him. His parents, who were killed when he was a baby, were also magic people, and he was excited to be able to learn about them. At the school, Hogwarts, he is befriended by two people who truly become his best friends and family, and he is finally happy to know there are people who care about him. I think this book can be related to Piaget’s Cognitive Theory of Development. Piaget’s cognitive theory of development was outlined into four periods of intelligent development. The sensorimotor period, the preoperational period, the period of concrete operations, and period of formal operations. The period of formal operations hits right at the age group that the Harry Potter series was intended for. This period occurs between the ages of eleven and fifteen when young people begin to use formal logic, engage in a true exchange of ideas, comprehend the viewpoints of others, and understand what it means to live in society. Most readers of this stage have entered adolescence and are ready for more mature topics. I think that this theory applies to this book as kids can relate to Harry’s life with the Dursley’s and the world he is living in. After finding out he is a wizard they can also relate to all the situations he will face while  there at Hogwarts. Children can use their imagination to take them away into their own world where they can get away from reality even for a moment. As far as the book itself goes, literary criticism is meant to interpret the meaning of literature. I believe this book is approached by formal criticism. Formal criticism focuses on the work itself rather than the literary history of the book. When I read this book I am not worried about the author and her life or anything about the literature. I am focused on the action and story itself and the suspense it brings to its readers. I found this criticism part of the paper a little more challenging, but I agree with my decision as I did not think that any of the others fit. There is much that children and even adults can learn from reading books. There are books for children ages zero to three that focus mainly on shapes, colors, animals, and numbers. There are books for younger children up until age ten that are about little girls or boys and their adventures that they go on with their imaginary friends. Books about friendship and forgiveness that teach children to be kind and considerate of others as well as unselfish and giving. Books for ages eleven to fifteen that focus on life as a teenager when your mother or father does not understand you and you are desperately trying to figure out who you are. Books that can teach compassion and loyalty to family and friends and just overall make you imagine worlds you could have never dreamed of. Finally to the ages of sixteen to nineteen when you are googling over that boy or girl you so wish would notice you or even if you are interested in the fantasy world of dragons and wizards, there is a book out there that can teach every one of us something about ourselves. Books are out there to teach us new things and take us places we never knew we could go. It is all about actually reading what the author has to say and listening. For me reading was a way of life and something that made me who I am today. I encourage reading for everyone and I hope that my son is as passionate about reading as I am. References Russell D. L. (2008) Pearson education, Ch. 2: The Study of Childhood: pg. 1 The Discover of Childhood. Russell D. L. (2008) Pearson education, Ch. 3: The Study of Literature; para. 20 Literary Criticism.

The United States And Cuba Essay - 1008 Words

The United States and Cuba The United States is the leader of the free world. The United States exercises strength in this role through trade agreements and military strength. Because of this, the foreign policies the United States puts into place greatly affect the economies of other countries. This is especially true of Cuba. The island of Cuba is just over 100 miles south of the Florida border. The United States and Cuba have struggled to find common ground in regards to foreign policy over the past few decades. In the Cold War, Fidel Castro, who would later become the dictator of Cuba took control of Havana and with his revolutionaries overthrew Fulgencio Batista. The United States disagreed with the communist ideology of Castro, but let him rule anyway. The United States took economic issue only after Cuba began increasing trade with the communist Soviet Union. What began as a reducing sugar imports from Cuba soon became a ban on almost of the products Cuba was exporting. The Bay of Pigs invasion, where the United States tried to oust Fidel Castro with help from the Central Intelligence Agency, was unsuccessful and deepened the rift between these two countries. Cuba retaliated by granting permission to the Soviet Union to construct a missile base on Cuba. The United States then threatened to invade Cuba. This famous Cuban Missile Crisis was eventually averted. Mor e importantly, it effectively demonstrates the mistrust between the United States and Cuba. ItShow MoreRelatedCuba And The United States864 Words   |  4 PagesCuba and the United States are two very different countries. Although they are only nearly 90 miles away from each other it has been over 50 years since both countries have had any real relationship towards each other, other than the hatred that seems to shown by the two countries’ politicians. In October 1960 the United States began to impose its first round of embargoes towards the small island when Cuba decided to nationalize all of the American Oil on its county after the United States withoutRead MoreThe United States And Cuba1491 Words   |  6 Pages Before the conflict between the United States and Cuba, the two countries were strongly connected in terms of trading, with the US purchasing 87% of Cuba’s exports (CITE). However, once Fidel Castro came to power in Janurary 1959 after successfully overpowering President Batista and established Cuba as a communist state, relations became strained. In the following year, $1.8 billion US assets in Cuba were taken by Castro and the newly Communist state created close ties with the Soviet Union (CITERead MoreCuba And The United States1217 Words   |  5 Pageshe U.S and Cuba officially cut ties in January of 1961, meaning that there have not been any high-level diplomatic relations with Cuba for 54 years. At the time, America and Cuba considered one another as mortal enemies and mistrusted each other’s government greatly. So this raises the question; Was it the correct decision for Cuba and the United States to cut ties? This break with Cuba was a bad decision because it caused Cuba’s economy to plummet, caused Cubans to immigrate, and it caused CubanRead MoreCuba And The United States1610 Words   |  7 PagesIntroduction A lot has gone on between the United States and Cuba between 1959 and 2015. In 1959, Cuba and the United States cut off diplomatic ties. On December 17, 2014, the United States and Cuba announced that they would restore diplomatic ties. Diplomatic ties is defined as â€Å"The art or practice of conducting international relations, as in negotiating alliances, treaties, and agreements† by The Free Dictionary. This means that two countries work together and with other countries to talk aboutRead MoreThe United States And Cuba1534 Words   |  7 Pageshostilities, the United States and Cuba have taken significant steps in recent years to dramatically alter their relationship in the years ahead. Those efforts are controversial to a number of Americans who oppose engaging the Cuban government. Prior to the Spanish American War of 1898, Cuba was a Spanish colony with extensive commercial relations with U.S. businesses, particularly with regard to the production of sugar. Following the U.S. victory in the Spanish American War in 1898, Cuba, which is locatedRead MoreCuba And The United States1610 Words   |  7 PagesIntroduction A lot has gone on between the United States and Cuba between 1959 and 2015. In 1959, Cuba and the United States cut off diplomatic ties. On December 17, 2014, the United States and Cuba announced that they would restore diplomatic ties. 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A body of people, who for almost 55 years, have been given the cold shoulder by one of the world’s biggest superpower and the only superpower in close proximity to their own island. The U.S. implemented sanctions on Cuba in 1960 and 1961, with President John FRead MoreThe Embargo On Cuba And The United States1781 Words   |  8 PagesIn December 2014, President Obama started restoring diplomatic relations with Cuba. Cuba and the United States have been hostile since the Cuban Revolution of 1959, when Fidel Castro overthrew the US-supportedbacked dictator, Fulgencio Batista, and established a Communist regime. The US rejected Castro’s bid for equal economic partnership because they wanted to maintain economic dominance. As such, Castro began seizing US assets, causing back-and-forth actions that culmi nated in Presidents Eisenhower

Heres What I Know About Essay Topics Write

Here's What I Know About Essay Topics Write The Argument About Essay Topics Write Most of us have written an essay. The most effective argumentative essay writing service on the world wide web is a business that supplies good quality and inexpensive help on argumentative essay and argumentative essay topics. Typically, all you have to do is to state the topic and you'll obtain an entire essay sample to keep on working all on your own. There are several interesting and challenging Shakespeare essay topics to pick from. Key Pieces of Essay Topics Write Writing argumentative essay is an intricate undertaking, as it requires the presence of many skills at the exact time. Writing an outline isn't obligatory. Choosing excellent essay topics for middle school needs to be a careful procedure, where a balance must be struck between topics that might be too simplistic, more fit for the main school, and choosing argumentative essay topics that can be too complicated or controversial . 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ARandom topic generatoris intended to help you l ocate the most fascinating and appropriate topic for your essay. Persuasive essay is one of the most tough kinds of essays, yet is it one of the most favorite professor's assignments. Informative essays are somewhat more descriptive. Argumentative essay is believed to be one of the most difficult assignments to finish. Persuasive or argumentative essays are intended to convince the audience of a person's viewpoint about a specific topic. You need to write a minumum of one research paper in a semester for most of the subjects. If it comes to write engineering essay for those students that are studying in electrical engineering school becomes confused since they are engineers and not the writers. Remember your final grade significantly is based on the topic. For instance, you can opt for a topic for elementary, middle, or higher school. 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Managing Conflict With Employees With Conflict And Improve...

Managing conflict with coworkers doesn t have to be difficult. In this article are eight simple rules that should both help you deal with conflict and improve your relationships at work. Rule 1: See conflict as an opportunity Your perception of conflict has a direct impact on how it plays out in your life. If you embrace conflict and see it as an opportunity to better a situation or a relationship, then you ll take on the challenge of seeing the confrontation through, regardless of how difficult it may be, because you know that the ultimate benefit of working through an issue will be worth it in the long run for both you and your working relationship with the other party. If, on the other hand, you distain conflict and would rather lie on a bed of sharp nails than address a problem with a coworker, you ll be more inclined to avoid it, mismanage it, or even deny its existence. In either case, your negative perception of conflict will prevent you from dealing with it effectively. Furthermore, avoiding conflict only makes it more likely that the issue will continue to be a source of contention with no end in sight. Keys: * Begin by breaking away from the following myths around conflict: a) Conflict is negative. b) Conflict is about winning and losing. c) Conflict, if left alone, will resolve itself. d) Conflict only impacts the parties in conflict. e) Your past determines how you handle conflict today. * The truth is, only you can determine what conflict means to you.Show MoreRelatedCompanies Must Mentor Relationships and Manage Conflicts Essay1172 Words   |  5 PagesManaging conflict and how it will undoubtingly affect the long-term success of your career. Understanding the five areas of the mentoring relationship becomes vital for all employees when effectively managing conflict. The next competency of leveraging diversity is just as important as being able to manage conflict. 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Financial Accounting Report Policy on Stock Prices

Question: Discuss about the Financial Accounting Report for Policy on Stock Prices. Answer: Introduction The report studies the impact of profitability of the two companies on investor performance indicators selected in this report. The two companies are AstraZeneca Plc and GlaxoSmithKline Plc, which are one of the big non-financial companies. Both of these companies are listed on the London stock exchange and both are pharmaceutical companies. Some analysis would be done in the following sections relating to these companies that would help to understand their profitability and their performance indicator analysis as well (Warren, Reeve and Duchac 2013). Moreover, profitability between the two companies would be compared on investor performance ratios between the two companies. Balance Sheet cum Income Statement of the Two Companies AstraZeneca Plc and GlaxoSmithKline Plc from 2011 to 2014 AstraZeneca GlaxoSmithKline 2014 2013 2012 2011 2014 2013 2012 2011 Net Sales 26095 25711 27973 33591 23006 26505 26431 27387 COGS 5842 5261 6026 5393 7323 8585 7925 7332 Operating Profit 2137 3712 8148 12795 3597 7028 7392 7807 Gross Profit 20253 20450 21947 28198 15683 17920 18506 20055 Operating Expenses 787 595 970 777 12086 10892 11145 12248 Preferred Dividends 0 482 323 312 0 0 0 0 Current Assets 16697 20335 19048 23506 14678 15227 13692 16167 Current Liabilities 17330 16051 13903 15752 13295 13677 13815 15010 Total Assets 58595 55899 53534 52830 40651 42086 41475 41080 Total Liabilities 38949 32646 29588 29358 33715 34274 35665 33048 Shareholder's Equity 19646 23253 23946 23472 4936 7812 5810 8032 Net Income 1249 3267 7646 12367 2756 5436 4565 5261 Weighted Average Share Common Outstanding Shares 1263 1257 1261 1361 2404 2416 2456 2514 Price Per Share 32.185 29.78 29.09 29.75 13.76 16.1 13.55 14.65 Annual Dividends per share 280 280 280 280 800 800 740 750 The balance sheet and income statement of both the companies have combined for the relevance of the calculation of profitability and key performance indicators. Nevertheless, after looking at the balance sheet and income statement, it can be deciphered that the both the pharmaceutical industries show same level of values across years but 2014 shows a dip in values. This may be due to the change in culture and strategies. Profitability Analysis of the Companies Profitability analysis means the analysis of the profit earning capacity of the companies based on the recent results (Grant 2015). The discussion of profitability of these companies would be analyzed in a systemized way. However, the best ways to analyze the profitability are effectively recorded by net profit margin, gross profit margin, operating profit margin and return on assets. Profitability Ratios Formula Net Profit Margin Net Income/Net Sales Operating Profit Margin Net Income - COGS -operating expenses/ Net Sales ROA (Return on Assets) Net Income/ Average Total Assets Gross Profit Margin Net Income-COGS/ Net Sales Table 1 Profitability Ratios AstraZeneca Plc It is a British-Swedish pharmaceutical company. It has its headquarters in London, in the United Kingdom. It is also a multinational company and the seventh largest pharmaceutical company in the world measured by the sales of prescription drugs, in the year 2012. This company has its operations across 100 countries (Astrazeneca.co.uk 2016). It has manifested its strong existence in market by working on drugs aligned with respiratory, inflammation, autoimmune, cardiovascular, metabolic, infection, and oncology and neuroscience diseases. Having partners all across the world, AstraZeneca has a wide global reach. The brief description of its profitability is discussed as follows: Profitability Ratios 2014 2013 2012 2011 Net Profit Margin 4.79% 12.71% 27.33% 36.82% Operating Profit Margin 8.19% 14.44% 29.13% 38.09% ROA (Return on Assets) 2.182% 5.971% 14.37% 23.81% Gross Profit Margin 77.61% 79.54% 78.46% 83.95% Table 2 Profitability Ratios of AstraZeneca from 2011 to 2014 The profits examined on each of the profitability ratio has been declining drastically such that the net profit margin declined from 36.8 2% in 2011 to 4.79% in 2014. However, it followed the same pattern in sales, revenue, and the assets converted into sales (Leuz 2012). Nevertheless, its earnings forecasts are depleting which may be not good for the company as the investor would not want to invest in a company fallowing a declining trend over the years. GlaxoSmithKline Plc It is a pharmaceutical company of British origin. It has its headquarter in London. It is also a multinational company. This company was established in the year 2000. GSK was the fifth largest pharmaceutical company in the year 2015 (Gsk.com 2016). The profitability of the company can be analysed on the help of ratios taken into consideration. Profitability Ratios 2014 2013 2012 2011 Net Profit Margin 11.98% 20.51% 17.27% 19.21% Operating Profit Margin 15.64% 26.52% 27.97% 28.51% ROA (Return on Assets) 6.662% 13.011% 11.059% 12.775% Gross Profit Margin 68.17% 67.61% 70.02% 73.23% Table 3 Profitability Ratios of GlaxoSmithKline from 2011 to 2014 The GlaxoSmithKline another non-financial company and of the competitors of AstraZeneca, even shows a declining trend just like its competitor. The ratios show declining trend but not on a drastic scale. The net profit margin of the company was 19.21% in 2011, which had come down to 11.98% in 2014. The trend is followed by conversion of assets into sales; costs of goods sold as well as rise in operating expenses. Investors Key Performance Indicator (KPI) Analysis on the Companies The key performance indicator (KPI) analysis of investor performance is measured to study the effectiveness of the organization against its objectives. However, choosing correct investor performance indicator is very essential for the organization as it is need to transfer business objectives to measured goals (Barth 2015). The organization is examined on the efficiency of each department for example; IPI useful for finance would be different from IPI useful for the sales department (Mahajan, Naurial and Singh 2014). These assessments very often tend to identify the potential improvements. Hence, performance indicators are often associated with initiatives forrevenue, cost and conversions (Krause and Arora 2010). The indicators that constitute important for investors to evaluate performance are given as: KPIs Formula Debt/Equity Ratio Total Liabilities/ Shareholder's Equity Current Ratio Current Assets/ Current Liabilities E.P.S (Earnings Per Share) Net Income- Preferred Dividends/Weighted Average Share Common Outstanding Shares Dividend Yield Annual Dividends per share/ Price per share Table 4 Key Performance Indicators (KPIs) AstraZeneca Plc The KPIs of AstraZeneca is essentially based on the reputation and government objectives involved in the key areas. The global quality team of this company is one of the largest company based on quality performance. However, the company ensures trends that are data driven as well as designs and delivers a powerful application on each manufacturing site (Baguley and Winter 2012). The company globally has achieved success because evaluating on KPIs factors and the performance can be shown with the help of ratios. KPIs 2014 2013 2012 2011 Debt/Equity Ratio 1.982541 1.403948 1.235613 1.2507669 Current Ratio 0.963474 1.266899 1.370064 1.492255 E.P.S 0.988915 2.215593 5.807296 8.8574578 Dividend Yield 8.699705 9.402283 9.625301 9.4117647 Table 5 KPIs of AstraZeneca from 2011 to 2014 Each KPI shows different level of indication in the organization. The leverage ratio shows that the debt in the organization is increasing from 1.25:1 to 1.98:1 in 2011 and 2014 respectively, which is surpassing the favorable debt position which is 1:1 (Bodie 2013). However, depicting that debt is accumulating. The current ratio is showing a falling trend depicting fall in current assets or the issue of not meeting its short-term debt. The two areas where the investor will have maximum attention would be E.P.S and Dividend Yield. The dividend yield of the remains consistent across all years but E.P.S has declined to larger extent constituting only 0.98% in 2014 against 8.85% in 2011. GlaxoSmithKline Plc GSK company is experiencing a shift in its cultural environment whether is relevant to leadership, people, partnership, process, business or customer results. The changes are mainly manifested due to the drive for change experienced by many organizations. However, in order to define the problem of its key indicators, The company has created a strategy for every group whether it is business partners, stakeholders, employees or society. The RD of GSK is creating a vital environment for sustaining competitive advantage (Mehmood 2012). KPIs 2014 2013 2012 2011 Debt/Equity Ratio 6.830429 4.387353 6.138554 4.114542 Current Ratio 1.104024 1.113329 0.991097 1.077082 E.P.S 1.146423 2.25 1.858713 2.092681 Dividend Yield 58.13953 49.68944 54.61255 51.19454 Table 6 KPIs of GlaxoSmithKline from 2011 to 2014 According to the Key Performance Indicators, the companys debt position is at its worst because of the accumulated long-term debt which has been increasing since 2011 and has reached to 6.83:1 in 2014. However, the current position of the company is considerably low depicting though it is able to pay off its short-term but still the debt burden is increasing on the company. However, the E.P.S value is fluctuating amongst the years but the dividend yield based on the share prices has increased due to change in its cultural environment (Ali, Sharif and Jan 2015). Comparison and Contrast of Profitability between the Companies AstraZeneca Plc and GlaxoSmithKline Plc said to be renown competitors are struggling on maintain profitability of the organizations. According to the annual reports of 2011 to 2014 in both the companies, generating profits had been as issue because the debt of the company is accumulating due non-financial company (Dunne 2015). On the other hand, the general profitability position of GSK shows a better trend than AstraZeneca. There was some downward trend also for GSK, but it was balanced by revue generating in the organization that helped in incurring less of operating expenses. However, the other factor that outlines the brief of this problem is the Crestor crunch faced by AstraZeneca which turned out to be expensive but helped in recovery of GSK (Ficenec 2016). According to the profitability, ratios depicted in Figure 1 (a), (b), (c) and (d) a comparison has been made between the companies. Figure 1 (a) Net Profit Margin of AstraZeneca Plc and GlaxoSmithKline Plc Figure 1 (c) Operating Profit Margin of AstraZeneca Plc and GlaxoSmithKline Plc Figure 1 (d) ROA of AstraZeneca Plc and GlaxoSmithKline Plc However, after comparing the data, the investor should invest in GlaxoSmithKline as the profit margins of the company are better than AstraZeneca Plc. Moreover, the company shows a decreasing trend depicting decrease in revenue and sales of the company from 2011 to 2014. Comparison and Contrast of Key Performance Indicators between the Companies The investors performance ratio has been assumed to be dependent on the leverage ratio, liquidity ratio, valuation ratio and profit margin for both the companies (Delen, Kuzey and Uyar 2013). However, when investigated on investor performance debt, earning per share and dividend given to the shareholders gives an idea to the investor regarding the organizations functionality. Nevertheless, both the companies show a high ratio on long-term as well as short-term debt. Thus, the companies had a decreasing rate of return on assets from the period of 2011 to 2014. Hence, the position relating to the investment performance is almost same for both GSK and AstraZeneca. Therefore, the analysis for investors investment wants to deal with debt on the first followed by dividend yield (Damodaran 2012). Conversely, if the debts grow on increasing in accompany, the profitability as well as dividend payout and yield will too get affected. This makes it vital for the management to assess the situatio n and take necessary measures for rectification (Bhattacharyya 2012). According to the Key Performance Indicators (KPIs), ratios depicted in Figure 2, 3, 4 and Figure 5, a comparison has been made between the companies. Figure 2 Solvency position of AstraZeneca Plc and GlaxoSmithKline Plc Figure 4 Earnings per share of AstraZeneca Plc and GlaxoSmithKline Plc Figure 5 Dividend Yields of AstraZeneca Plc and GlaxoSmithKline Plc However, after comparing on the key performance indicators current ratio, debt-to-equity ratio, EPS and Dividend yield. It can be said that though the GlaxoSmithKline Plcs indicators are declining from 2011 but the company has been showing a consistency. Nevertheless, AstraZeneca Plc has fallen drastically as a result no investor would be interested to invest in the company. Conclusion The assignment can be summarized based on the investment to take place. The profitability and Key Performance Indicators are the basic factors that help the investor to carry out investment practices in the organization. However, the assignment deals with these factors to be assessed on AstraZeneca Plc and GlaxoSmithKline Plc, the two British organizations that are based on profitability Pharmaceutical organizations. The result based on profitability highlighted that the organizations are facing a decreasing trend due to the changes in the current environment. Nevertheless, on profitability factor, the investor will invest in GSK. On the other hand, on KPIs, the investor will invest in AstraZeneca Plc. Recommendations It is highly recommended for the management of both the companies to assess the general pharmaceutical market relating to cultural changes in the environment relating to their sphere of activity and efficiently identifying the reasons for poor market performance. Consequently, changing environment will give investors a warning regarding the investment in the pharmaceutical company. Moreover, both the companies are undervalued and are working flat to return to growth. According to the investment criteria, investment in pharmaceutical sector, especially in these two countries show the traits of classic contrarian value investments. However, it is advised that when one of the companies undertakes RD, then that is the time investor should think of investment. Nevertheless, AstraZeneca Plc and GlaxoSmithKline Plc is trying hard, but as per internal and external factors, AstraZeneca GlaxoSmithKline is performing better and AstraZenecas Competitor is taking the lead. However, Glaxo has 258 products, which are under development and will be marketed by 2020 whereas Astra has 222 new products and expects to be marketed by 2018. Both the companies are in competition and are expected to grow together with a close-knit competition (Hargreaves 2015). The investors are advocated to see other factors as well before investment. References Ali, A., Sharif, I. and Jan, F.A., 2015. Effect of Dividend Policy on Stock Prices.Journal Of Management Info,6(1), pp.55-85 Astrazeneca.co.uk. 2016.AstraZeneca Home. Available at: https://www.astrazeneca.co.uk/ [Accessed 21 Mar. 2016] Baguley, M.J. and Winter, M.J.E. eds., 2012.Outsourcing clinical development: strategies for working with CROs and other partners. Gower Publishing, Ltd.. Barth, M.E., 2015. Financial Accounting Research, Practice, and Financial Accountability.Abacus,51(4), pp.499-510. Bhattacharyya, A.K., 2012.Financial Accounting for business managers. PHI Learning Pvt. Ltd.. Bodie, Z., 2013.Investments. McGraw-Hill. Damodaran, A., 2012.Investment valuation: Tools and techniques for determining the value of any asset(Vol. 666). John Wiley Sons. Delen, D., Kuzey, C. and Uyar, A., 2013. Measuring firm performance using financial ratios: A decision tree approach.Expert Systems with Applications,40(10), pp.3970-3983. Dunne, N., 2015.Competition Law and Economic Regulation. Cambridge University Press. Ficenec, J. 2016.Questor share tip: AstraZeneca faces Crestor crunch in year ahead. Telegraph.co.uk. Available from: https://www.telegraph.co.uk/finance/markets/questor/12141816/Questor-share-tip-AstraZeneca-faces-Crestor-crunch-in-year-ahead.html [Accessed 21 Mar. 2016]. Grant, R.M., 2015.Contemporary Strategy Analysis 9e Text Only. John Wiley Sons. Gsk.com. 2016.Home | GSK. Available at: https://www.gsk.com/ [Accessed 21 Mar. 2016]. Hargreaves, R. 2015.Why GlaxoSmithKline plc And AstraZeneca plc Are The Best Bargains In The FTSE 100! | The Motley Fool UK. Fool.co.uk. Available at: https://www.fool.co.uk/investing/2015/10/21/why-glaxosmithkline-plc-and-astrazeneca-plc-are-the-best-bargains-in-the-ftse-100/ [Accessed 21 Mar. 2016]. Krause, H. and Arora, D., 2010. Key Performance Indicators. Leuz, C., 2012. Empirical Research on Financial Reporting, Disclosure Capital Market Regulation.Journal of Accounting Research,38, pp.91-124. MAHAJAN, V., Nauriyal, D.K. and Singh, S.P., 2014. Efficiency and Ranking of Indian Pharmaceutical Industry: Does Type of Ownership Matter?.Eurasian Journal of Business and Economics,7(14), pp.29-50. Mehmood, F., 2012. Growth by Merger-A long-term analysis of GlaxoSmithKline. Warren, C., Reeve, J. and Duchac, J., 2013.Corporate financial accounting.

Which areas of knowledge are affected by doubts Essay Example

Which areas of knowledge are affected by doubts? Paper For Example, Galileo Galilei had proven a false of thinking that was produced by religion. He had proven that the earth orbits the sun. He could have made a major role in the scientific revolution with the heliocentric theory. This theory was not accepted because people had believed the Ptolemaic theory at that time. Galileo Galilei could have died because he had assisted heliocentric theory. It is now proven that Galileo Galilei was right but it was denied from religion. Later, it was proven by other person again and heliocentric theory could be said as a true theory. Strong belief in early centuries kept away the scientific revolution in finding knowledge. Also, for many years, there have been lots of debates of creation and evolution. The debates are about recurring theological and cultural-political dispute about the origins of the earth, humanity, life, and the universe. Before evolution theory was made, people all believed in god created human and places for them, also universe including the earth. Charles Robert Darwin is the main scientist who had doubt in creation and thought of evolution. He proved in scientific way and it could be believed by people surpassing belief in religion. We will write a custom essay sample on Which areas of knowledge are affected by doubts? specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Which areas of knowledge are affected by doubts? specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Which areas of knowledge are affected by doubts? specifically for you FOR ONLY $16.38 $13.9/page Hire Writer So biology developed based on doubt and achieved lots of biological prove. There would be lots of belief but the most powerful belief was religion. This had suppressed people to doubt about religion. Wrong belief had made some developments which could have be wrong but progressive. Like this, unproven theory had appeared a lot from religion. However, as shown from the examples above, doubting created new knowledge towards science. Moving into history, there are two types of history. Which are finding past and re-analysis of the past. History in TOK is only re-analysis past. Re-interpreting history is seeking for coherence of reason and background of history. In this process, people can have different opinions of history as people see history by different point of views. So re-analysis history is not objective but subjective. It is simply said to analysis how and why the history had happened subjectively. History is thinking of chronology in terms of coherent. If we relate history with our own thinking then even the same history is given, a lot of different views could be gained by people. It could be different by ethnic group, countries, education, disparity of ages, and a position in them. Lots of things could be a reason that they could have different point of views in history. If no one was interested in distorted history, then there would be wrong historical truth. As people have their own thinking, therefore they doubt in historical truths. I leant history of Korea before; the memorable history in which I leant was about Korea and Japan, when they were middle of World War 2. Everything in Korea had been ruined and destroyed by Japan to maximize their own benefit but not for Koreans. In my opinion, Japan was wrong in their actions and also they have caused World War 2, also, sacrificed Koreans for their own benefit. Most of people think that Japan was wrong, but the opinion of this history can be different to some others. Maybe some people in Japan could have opposite thoughts towards my opinion. Japan is now slowly sinking into the ocean and they had only one choice to overcome, which was conquering other countries. It could be reason for Japan why they caused WW2. Like this, re-analysing history could be different to each other due to some factors. On the other hand, the Persian proverb Doubt is the key to knowledge is not valid in the developments in technology. When we compare technology with natural science, technology does not have beliefs in certain aspects nor needing to doubt if what said in the previous was true or not. Technology is change of paradigm. Here is the graph of development in technology. Just to make sure, this graph is not drawn in scale. See these parts where the lines are not connected to each other, these are called paradigm. The technology we use and the technological skills we have are not developed by doubts. For example, in the olden days, TV was in black and white. The process between having black and white and inventing colour TV was not created by doubt. John Logie Baird who invented colour TV did not doubt in invention of black and white TV to invent colour TV. It was just the process of new invention but this is not due to any doubts. Finally I conclude my presentation. Even though this counterclaim argues that the doubt is not the key to knowledge, however, I believe that doubt does act as a key to knowledge. I think that if someone was to prove something wrong, then doubting about something will be the first step needed. As you wont know if something is wrong or not, without any doubts of right or wrong.