BUSINESS MANAGEMENT

Business management



Business management

Introduction

In the given scenario, a number of social and legal aspects need to be taken into account.

In the last decade, people asked legal, social and ethical aspects of organizations closer than ever. With the help of the media, business practices have become more transparent. Bateman and Ladder (2007) state: "There is a greater readiness to believe negative things about corporations today, what a dangerous time for business." In order to maintain credibility in the public eye, it is imperative that companies and people keep low morale (Ewan, 2005).

1) Legal and professional responsibilities within business

All companies are subject to legal liability and are required to comply with the law, organizations that impact the planning process. To correct operation, the company must be aware of external factors governing the industry the company operates within. A legal question presented in the case because it spoke of "diverting to another company a valuable opportunity it belonged to the company (Delaware, 2004, p. 1) you are employed and its partners have received most of their ill-gotten gains "the payments called competition. It was reported that in order to transfer corporate assets HII, you are an employee and his associates "can not reveal important information on necessary filings with the SEC, that" falsified corporate books and records "(p. 4), and" not accurately reflect the transaction. "Securities legislation requires disclosure of certain information provided on business and affairs of public companies. This includes periodic financial statements, reports of insider trading, an annual information form (AIF), press releases and material change reports.

Social responsibility

To thrive in the public eye, a company must meet certain requirements of social responsibility, thus in the planning stage should be aware that can add value beyond its products and services. For example, a company can meet its social responsibilities by supporting important causes and charitable donations. HII made several charitable donations, while the Black management, however, the chief executive's motives are questionable as it was embezzlement of company funds that was to make contributions (Andersen, 2006).

Ethical responsibility

In the planning process, organizations should think about setting guidelines to regulate business practices and protect the company, its employees and shareholders, which is usually done by establishing codes of ethical conduct. Caux ethics is a set of principles designed to help organizations establish basic standards for ethical practice. The first principle is the corporate responsibility beyond shareholders to stakeholders and states that "Businesses have a role to play in improving the lives of all its customers, employees and shareholders by sharing with them the wealth have created."

You are hired did not meet the first principle of ethical responsibility HII from the sale of one of its assets, the American truck driver, to another company and transfer U.S. $ 2,000,000 to pay non-compete agreement to a related entity, therefore benefiting directly from the operation at the expense of the shareholders of HII.

"You're hired" was a legal and ethical code of conduct in place, however, did not provide adequate protection for the organization and ...