Journal of Business & Economics Research – November 2006 Volume 4‚ Number 11 Building Customer Value And Profitability With Business Ethics Robert C. McMurrian‚ University of Tampa Erika Matulich‚ University of Tampa ABSTRACT Firms assume ethical business practices only add costs to the firm. However‚ business ethics actually add value for customers and result in increased profitability and performance for the firm. INTRODUCTION D ue to constantly changing competitive environments
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1. What are business ethics? Give two examples of business practices that stakeholders would regard as ethical and two that might be considered unethical. Business ethics are the behaviours that any given business holds on to in its operations with either common or corporate world. In essence‚ the ethics may be dissimilar regarding the nature of the business activity one is engaged in. however‚ business ethics not only apply to how a business is engaged with the greater community
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* Profit making organization * Non-profit making organization * Charity organization Different organizations have different purposes .some work for profit and some are non profit organizations that work for the welfare of society. A business or other organization whose primary goal is making money ‚as opposed to non-profit organization which focuses a goal such as helping the community and is concerned with money only as much as necessary to run the organization and most companies considered
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Abstract Anglo-American and Primark are among the world’s leading companies. In this paper‚ I will analyze their application of ethics and then utilize “A Model of Business Ethics” to help describe the two companies ethical practices. The paper will provide a discussion of the costs and benefits of an organization as well as define ethical business. Introduction Anglo-American and Primark are two multinational organizations with different Code of Conduct ethics. However‚ the rapid economic
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Introduction The challenge facing business and society in the 21st century is how to use resources more efficiently. Every business large or small needs to consider carefully: 1. how to reduce its use of energy 2. how to minimise waste. The central economic problem is how to match finite resources with unlimited wants. With the demand for resources rising as the world economy grows this is becoming more of a challenge. Leading global companies like Anglo American strive to find new solutions to this
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Anglo American Business ethics and corporate social responsibility 1. How has Anglo American’s reputation enhanced by engaging with local communities in decision-making? Why is it important for this engagement to be an ongoing process? Anglo American mining company is one of the leading companies on the mining industry and has gained reputation because they include the local community at the moment of decision-making. Mining industries are often being observed as they are recognized because
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2. What are the pros and cons of Anglo American adoption of an aggressive strategy in combating HIV/AIDS among its South African workforce? What recommendations would you give the company concerning its HIV/AIDS policy? Answer: Anglo American had huge investment in South Africa and was heavily hit by the HIV/AIDS epidemic. It was the first private company to develop a proactive strategy to combat the ravages of the disease on its workforce and thus effecting their operations. Pros of adoption
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Introduction Anglo American Plc is a mining conglomerate and is one of the largest companies within the mining industry. It originally started in 1917 as a gold mining company going by the name of Anglo American Corp; the name was created when the initial starting capital of £1million was raised from U.K. and U.S. sources (Forbes 2006). In 1999‚ following a major strategic review‚ Anglo American merged with Luxembourg headquartered Minorco to form Anglo American Plc‚ with its primary stock exchange
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Q1: Trace the history of Anglo American from 1917 to date in South Africa and other Businesses? Anglo American plc is a global mining company headquartered in London‚ United Kingdom. It is a major producer of diamonds‚ copper‚ nickel‚ iron ore and metallurgical and thermal coal and the world’s largest producer of platinum‚ with around 40% of world output. The following is the timeline of Anglo American: 1917 Company founded by Sir Ernest Oppenheimer along with American J.P Morgan. Initial investment
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The Anglo-American Empire A special relationship with oilThe Ottoman (Persian) Empire collapsed with WW1(1918) when the British defeated the Turks. At the instigation of First Lord of the Admiralty Winston Churchill‚ the British government became a majority (and at-first secret) shareholder of Anglo-Persian during World War I. Britain soon became a dominant power in Persian and later Iranian politics. British and American political operations in that nation shaped the developments that led to the
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