Internal Stakeholders Owners of Toyota: -‐ These were the founders of the company who made the major decisions of investing in the automobile industry (i.e. Kiichiro and Risaburo) and significantly influenced Toyota to be the company that it is today. -‐ When the manufacturing law was
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PA R T I From Ethical Foundation to Addressing Stakeholder Needs Chapter 1. The Foundation of Ethical Thought Chapter 2. The Evolving Complexities of Business Ethics Chapter 3. Stakeholders and Corporate Social Responsibility 1 C H A P T E R 1 The Foundation of Ethical Thought The biggest corporation‚ like the humblest citizen‚ must be held to strict compliance with the will of the people. —Theodore Roosevelt We demand that big business give people a square deal; in return we must insist when
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BP: The Oil and Energy Company BP is an oil company whose roots start back in Cleveland‚ Ohio in the 1870 ’s. BP has grown from a local oil company to now being a global energy group employing over 80‚000 people and operating in over 100 countries worldwide. BP provides fuel for transportation‚ energy for heat and light‚ retail services‚ and petrochemical products for everyday items. They are all about finding oil and natural gas and have several brands that might sound familiar: BP‚ Castrol
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The decision whether to close the Lima‚ OH plant has not been easy to make. There have been many arguments as to why and why not the plant should remain open or be closed. As the VP of Finance for BP‚ I have kept an open mind and looked at the advantages and disadvantages of closing the plant. I will now discuss some of these arguments in the following paragraphs. The first argument as to why the plant should remain open is the 30% increase in productivity. Lima‚ Ohio has a population of 48‚000
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British Petroleum is a global brand which is acknowledged worldwide for quality gasoline. The brand name BP ‘appears on production platforms‚ refineries‚ ships and corporate offices as well as on solar products‚ wind farms‚ research facilities and at retail service stations’. BP has grown into a global energy group from a local oil company. It has employed over 96‚000 people. Strategic decisions are usually long term decisions which are often risky and speculative. A strategic decision
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BP is a multi-national oil company based out of London‚ England. Truly an "oil supermajor‚" BP has more than 115‚000 (2006) employees with operations in more than one-hundred countries throughout the world. BP has a corporate slogan that says "beyond petroleum" and such has been the corporation’s nature since it adopted the slogan in 2000. They are driven not to simply provide petroleum at a reasonable price‚ but to go beyond that‚ researching new forms of energy and providing to customers beyond
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Market structure : there are a number of different buyers and sellers in the marketplace. This means that we have competition in the market‚ which allows price to change in response to changes in supply and demand. Furthermore‚ for almost every product there are substitutes‚ so if one product becomes too expensive‚ a buyer can choose a cheaper substitute instead. In a market with many buyers and sellers‚ both the consumer and the supplier have equal ability to influence price. In some industries
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the movement of trade‚ capital‚ technology‚ and people”. And undoubtedly the disaster has affected the relationships between countries and affected the world economies‚ be it the relationship with the board of directors of BP and the US government or the change in value of BP PLC on the stock exchange. ²As a result of the oil spill the Obama administration imposed a six month moratorium on new deep water drilling operations which ended on the 12th of October. For twenty years previous to the oil
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The decision making biases greatly impacted the decisions made by those involved in the oil spill. Between both organizations‚ BP and Transocean‚ and there inability to agree and make adjustments caused BP to be publicly criticized. The cognitive bias‚ overconfidence‚ is explained by the Business Insider as being “too confident” about one’s abilities. (Lee & Leibowitz‚ 2015). The worker’s on the rig presented this specific bias when making decisions. When the data examined revealed warning signs
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HealthSouth Impact on Stakeholders HealthSouth’s fraud impacted many of their stakeholders. Some of the stakeholders discussed below are the Directors and Management Team‚ external auditors Ernst & Young‚ the employees‚ the patients‚ and Chief Financial Officer Weston Smith. The Board of Directors and Management team engaged in several conflict of interest actions. They were the first company to be charged under the Sarbanes Oxley Act of 2002; which holds financial executives more accountable by
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