WHAT IS THE ROLE OF ETHICS IN MANAGEMENT? Ethical management refers to corporate management that not only fulfills economic goals and legal responsibilities‚ but also meets the ethical expectations imposed by social norms in conducting business. There are 5 specific functional areas of management which is covered by business ethics : 1) Ethical management in the workplace. Ethical management is the foundation of CSR (voluntary activities undertaken by a company to operate in an economic‚ social and
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business ethics | a specialized study of the moral standards that apply to business policies‚ institutions‚ organizations‚ and behavior. | consistency requirement | the necessity of moral principles to be applied the same way to everyone in similar circumstances | ethical relativism | the theory that morality varies according to culture and/or time. | Ethics | the study of morality or the moral standards of a society or an individual. | law of agency | a law that specifies the duties of persons
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Case Study Supporting Operations Management at Standard Bank A Case Study by Bloor Research Author : Simon Holloway Publish date : September 2010 Standard Bank‚ by using QPR software for their Six Sigma initiatives‚ were able not only to map the processes to a standard‚ but to produce measures aligned to higher level objectives‚ with targets that were realistic and achievable‚ resulting in hard savings Simon Holloway Supporting Operations Management at Standard Bank Introduction The
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Cash – Cash includes: currency and coins‚ checks‚ money orders‚ bank drafts and demand deposit accounts. Held for Trading Securities – Temporary investments of excess cash which are primarily held for short term gain. Loans and Receivables – include trade receivables and non trade receivables. Trade Receivables are claims against others which arise in the ordinary course of doing business. Examples are: Trade accounts receivable- these are claims against customers arising from the provision
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defining “what ethics means?” However‚ ethics consists of a code of conduct that essentially outlines right from wrong. These moral principles describe what an individual’s behaviour ought to be like and what should be done regarding their rights‚ responsibilities‚ equality and welfare. For example‚ ethical morals implement the need to avoid actions of misconducts such as manslaughter or theft. There are laws that are applied for such offenses except it is important to point out law and ethics differ
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INTRODUCTION TO Operations Management 1. Operations management deals with the design and management of products‚ processes‚ services and supply chains. It considers the acquisition‚ development‚ and utilization of resources that firms need to deliver the goods and services their clients want. 2. What are the three basic functions in business organizations? 1)operation‚ or product service knowledge 2) finance 3) marketing 3. A supply chain consists of 4. What is meant by
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What is Business Ethics? What is Business Ethics? Business ethics is a management discipline born out of the social awareness movement of the 1960s’ that has improved society substantially. Business ethics is also the “study of ethical dilemmas‚ values‚ and decision making in the world of commerce that addresses environmental‚ social‚ and governance concerns” (Academic Info‚ n.d.). A business or organization builds integrity and trust with society by demonstrating sound business ethics
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Operation torch was the first British-American attack on North French Africa during WWII on November 8‚ 1942. The Soviet Union needed America and the United Kingdom to open a second front on Germany to relive the soviets from there continues attacks of the german forces. An American commander had a different idea to attack Europe as fast as possible but a British commander thought that was a terrible idea and decided to go with operation torch. The plan was to clear the axis forces from north Africa
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Chapter 01 Introduction to Operations Management True / False Questions 1. Operations managers are responsible for assessing consumer wants and needs and selling and promoting the organization’s goods or services. True False 2. Often‚ the collective success or failure of companies’ operations functions will impact the ability of a nation to compete with other nations. True False 3. Companies are either producing goods or delivering services. This means that only one of the two
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fulfilling of a given task. Now let us imagine success‚ without opportunities; without the opportunity to prove your worth‚ without the opportunity to even get a chance to attempt to work towards a goal. Life is meaningless without opportunities‚ and success thrives on these very opportunities. I would like to share a story with you. One day‚ a young boy decided to buy a goat. After paying up‚ he later found out that the goat was dead. What would an ordinary person do? Regret buying that goat from
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