Business Ethics Essay Example | Topics and Well Written Essays - 750 words - 3

Business Ethics - Essay Example Whilst other people may not be aware of this, the management will be fully aware that their action contravenes the moral principles they should uphold in their operations. They will be just behaving in such a way as a result of the fact that their action is beneficial to the majority of the people involved. To them, this practice is morally right since it benefits the majority of people. For instance, this action means that the company stands better chances of generating more revenue from this malpractice. This in turn benefits the shareholders and other stakeholders who have interests in the company. However, other unsuspecting people are likely to be impacted negatively by this kind of action. It may not be noticeable but these people are likely to be affected in the long run. The organizations in particular should always be guided by their stated values that compel them to act in way that make them different from other companies. The values in this case are basic tenets that shape the culture of the organization and these should not be compromised for financial gain. From this assertion, it can be seen that financial gains should not be given precedence over the interests of other people since this action is likely to result in negative consequences to the affected people. Indeed, the goal of each organization is to generate profits from its operations but care should be taken so as to ensure that the rights of the other people are not violated for the love of money by the organization involved. The moral principles that shape the company’s values should always shape its operations so as to be in a position to create trust among different stakeholders. It can also be seen that... It can be observed that action that is regarded as morally right may have negative consequences though it may benefit the majority of the people involved. Actions that are detrimental to other people should never be condoned though they are beneficial to the majority of people. Ethical principles that try to distinguish between something that is bad from right should always be upheld regardless of the fact that bad action can yield benefits to other people. It should always be noted that something wrong will remain wrong no matter how beneficial it may be to other people who may be involved in such a scenario.

Global Financial Crisis Research Paper Essay Example | Topics and Well Written Essays - 1250 words

Global Financial Crisis Research Paper - Essay Example This paper will analyze the actions taken by Samsung’s leadership following the world financial crisis of the year 2007-2008. The experience of Samsung Company in the year 2008 was quite different from the Asia financial crisis of 1997. The pre-global crisis of the year 2007 to 2008 offered varying opportunities from the one that was experienced ten years before. The company was at a different level compared to 1977 and 1987 when the company was at its infancy. As it was realized later, even before the crisis of 2007 the company faced varying tension as it role in the Korean market continued to change. The company had not yet learned from the previous crisis and was unprepared when the global crisis struck. The company’s leadership was divided though dialogues, disagreement and arguments as a result of one group wanting the company to remain as original as possible while the other group wanted to challenge everything that was being experienced in the company. Both sides were however shaken by the global financial crisis of 2007-2008 (Lee, 4). Political issues led to the chairman of the company resigning in 2008, a slowdown in the drivers of business was registered 2007 and the triumph of the Korean voice that led to the resignation of Yun as well as the onset of the global economic crisis that hit the country at around October 2008 were among the challenges that were faced by the company. Since the world economic crisis that was experienced by the company in 2008, Samsung Company has proceeded on the path of becoming one of the globe’s leading organizations in terms of progressive entrepreneurship and creative innovations (Necker and Ziegelmeyer, 20). As the United States financial crisis deepened the world’s economic downturn in 2008, the leadership of the company experienced challenges that were quite different from the ones that they had

Australian taxation law Assignment Example | Topics and Well Written Essays - 2000 words

Australian taxation law - Assignment Example (1+GST rate) ? FBT rate Hence, the following benefits of Paul shall be as follows: Car fringe Benefit $22,500 Entertainment Fringe Benefit $ 2,000 Loan Fringe Benefit $ 8,000 ---------------- Employer’s type 1 aggregate fringe benefits $32,500 amount 46.5% + 10% ------------------------------------------- $32,500 x (1 – 46.5%) ? (1+ 10%) ? 46.5% rate $32,500 ? 2.0647 = $67,102.75 Total Fringe Liability This is the total value of the fringe benefits tax liability of Chatswood Pty Ltd. for the year ended 31 March 2011. For purposes of computation, ‘the FBT year is the 12 months beginning 1 April and ending 31 March. Currently, the FBT rate is 46.5%. A GST of 10% is applied on most goods and services that are supplied in Australia and on goods imported into Australia’2. ‘If an employee receives certain fringe benefits with a total taxable value of more than $1,000 in an FBT year (1 April to 31 March), employer must report the grossed-up taxable value of the benefits on their payment summary for the corresponding income year (1 July to 30 June). This is called the reportable fringe benefits amount’3. Therefore, the Fringe Benefits Tax (FBT) that should be paid by the employer Chatswood Pty Ltd., at the end of the year is $67,102.75. The car fringe benefit, the loan fringe benefit and the entertainment fringe benefit which were granted to Paul by his employer are all entitled to Goods and Services Tax (GST) credit that is available to Chatswood Pty Ltd. However, the $1,000 salary of Paul is not considered as a fringe benefit since there is an imposed tax on the salary which is being paid by the employee. As defined under the Finance Act of 2005: â€Å"Fringe Benefits† means any consideration for employment provided by way of: (a)  Ã‚  Ã‚  Ã¢â‚¬Å"any privilege, service, facility or amenity, directly or indirectly, provided by an employer, whether by way of reimbursement or otherwise, to his employees (including former employee or employees) (b)  Ã‚  Ã‚  any free or  concessional  ticket provided by the employer for private journeys of his employees or their family members;  Ã‚  and (c)  Ã‚  Ã‚  Ã‚  any contribution by the employer to an approved superannuation fund for employees†.4 The total value of all fringe benefits given to a particular employee by his or her employer in an FBT year is known as their individual fringe benefits amount. 2. Peter’s is liable to pay a capital gains tax (CGT) for the sale of the gift shop for the year 2010/2011 based on the following computation: Gross Sale Proceeds from the gift shop: $840,000 Less: Incidental Cost of Disposal : $(60,000) Net Sale Proceeds: $780,000 Less Cost of Asset: $(450,000) Capital Gain: $330,000 Therefore, Peter shall be liable to pay a CGT on his gain amounting to $330,000. ‘Capital gains tax is a tax on the profits which may be made from the sale of capital assets. Only individuals are liable to pay CGT, cor porations are not liable to CGT. A liability to pay CGT arises only when a chargeable person makes a chargeable disposal of a chargeable assets’5. Some of chargeable assets include lands and buildings, paintings, jewelry, plant and machinery. However, no CGT shall be imposed on the sale of his main residence as he is entitled to ‘Private Residence Relief’. To qualify for the exemption based on the ‘Private Residenc

Should Smoking be banded in New Orleans' casinos Essay

Should Smoking be banded in New Orleans' casinos - Essay Example It covers Bars, Restaurants, Casinos, Patios, Hotel and Motel Rooms, Patios, Courtyards, Balconies, Parks, Public Events, Hotel and Motel Rooms, Bingo and Video Poker Halls, Sidewalks and Streets, Private Homes, Private Clubs, Conventions, Nursing Homes and assisted living areas, Stadiums, Care Facilities, Correctional Facilities, Amphitheaters and Outdoor Areas, and Bus Shelters. Hookah and Cigar Bars and Vape Shops however will be exempted from the ban (Mahey & Miller 312-46). The Mayor argues that the ban is about quality of life, protecting citizens and making the neighborhoods safer. The City Council will proceed with an aggressive campaign to create awareness about the ban. Enforcement will be placed on the hands of City health and code inspectors. Bars that defy the ban are subject to fines and penalties. Debate is torn between those decrying the dangers of second-hand smoke and those fearing for the collapse of businesses that host smokers. The smoking debate has been raging for a long time. Those in support of smoking bans argue that many people die from lung cancer and heart disease and that the world would be a better place without cigarettes. They say that smoking harms non-smokers who inadvertently inhale second-hand smoke and that it kills more people than alcohol; car accidents and AIDS combined. Smoking kills 1.2 million people in China and 430,000 people a year in America and about 50,000 non-smokers die from smoke related diseases in America (Farley & Cohen 18-20). The National Cancer Institute, Surgeon General of the United States and National Institute of Health all support the smoking ban particularly because of the effects of second-hand smoke on nonsmokers. Banning smoking will improve air quality they say and smoking bans are becoming common in the United States and the world over. The American Nonsmokers Rights Foundation reports that 36 States and 900 cities have enacted laws requiring bars and restaurants to be smoke free. More places

Audit and financial statements Essay Example | Topics and Well Written Essays - 2250 words

Audit and financial statements - Essay Example The scope of external auditor's work covers the audit of financial statements, probity in the use of public money and value for money in the use of resources. Internal auditor objectively examines, evaluates and reports on the adequacy of the internal control environment as a contribution to the proper, economic, efficient and effective use of resources. External audit is conducted in accordance with International Standards on Auditing (ISA) and with the Audit Commission's Code of Audit Practice. Internal audit's strategy and plan is agreed between internal audit and management. It is approved by the Audit Committee and cannot be directed by external auditor. Effective co-operation between external auditor and internal auditor means more than avoiding duplication. An effective framework of co-operation and co-ordination ensures liaison, co-operation on work programmes and the sharing of information. This can be achieved through: The external auditor has various responsibilities when it comes to performing the audit. It is the responsibility of the external auditors to perform audit of financial statements in such a way that they areable to form opinion, including: Auditors have a responsibility to satisfy themselves that the audited body has put in place proper arrangements to secure economy, efficiency and effectiveness in its use of resources. While doing so, the auditor must consider and assess the relevant significant business risks. Auditors are not required to report to audited bodies on the accuracy of performance information that the audited bodies publish. Auditor's work is limited to review of the systemsput in place by the audited body to collect, record and publish the information. Nor are auditors required to form a view on the realism and achievability of the assessments published by those audited bodies. The auditor's report should contain a clear written expression of opinion on the financial statements taken as a whole. The auditor's report includes the following basic elements: (a) Title (b) Addressee (c) Opening or introductory paragraph containing (i) Identification of the financial statements audited (ii) A statement of the responsibility of the entity management and the responsibility of the auditor (d) Scope paragraph containing (i) A reference to ISAs or relevant national standards or practices (ii) A description of work performed by auditor (e) Opinion paragraph containing (i) A reference to the financial reporting framework used to prepare the financial statements (ii) An expression of op

Research - Qualitative Methods - Developing a Qualitative Orientation Paper

- Qualitative Methods - Developing a Qualitative Orientation - Research Paper Example Those who could not afford it turned to crime as a way of surviving. Theft and murder were some of the crimes initially done as a way of acquiring these basic needs which were quickly becoming luxuries to the poor and unemployed. Other kinds of crimes emerged thereafter. It is difficult to find out the organization of people involved in crime since this would require me to interact with criminals on a personal basis who may find it difficult to trust me. This may also lead to the suspicion of me being a police officer which may make things for me even more complicated (Strauss & Corbin, 2008). The focus of my inquiry is to try and establish comprehension of the genesis of misdeed and possible ways of solving it. This understanding of the origin should help in a great way to establish a working solution. As per my understanding the origin of crime is not mostly due to industrialization as due to personalization of lifestyles. If people became more responsible towards each other’s wellbeingthen there would be a great reduction in crime rates. The locus of my study is what people think about crime and the areas whereby crime is most prevalent. The areas that are most prone to crime are towns whereby everybody is his/her own self. Most people hate crime.Even the majority of criminals are forced by circumstance to use it for survival (Glaser & Strauss, 1967). Crime is a creation of development which is quickly becoming a drawback to further development. In one hand crime has an almost complete negative reception whereas on the other hand it is not entirely easy to do away with. In conclusion it is a problem facing many who would rather have it solved and at the same time the solution is not as easy as the will to come to it. This is because doing away with crime entirely would mean that people go back to the days of communal wealth but this would bring development to a halt. In

Wigand vs. brown and Williamson- ethical issues Essay

Wigand vs. brown and Williamson- ethical issues - Essay Example ere not only grounded on the dangers accompanied smoking but also the fact that the company was adding chemicals to the cigarettes and this made the consumption of such cigarettes more addictive to the consumers. First, there was ethical violation of the consumers’ rights. Apart from the fact that the company endangered the lives of the people, it was also unlawfully and corruptly obtaining wealth from the unsuspecting consumers. When investigation was instituted by the CBS, Wigand was convinced by Lowell Bergman to make his testimony proving the allegation through an interview. In the process of doing that, Wigand found himself in an awkward situation that put his entire life at risk. The information he provided regarding this malpractice was treated with contempt. He suffered a lot of harassment and faced numerous threats because of such crucial information. The point of interest was that the CBS did not air the interview and the information that was presented by Wigand despite the risk he had taken. The main reason that the CBS gave for the failure to air the interview was the fear of litigation by the company. The CBS had broken law in this matter because of the omission. As a fourth estate, it was important that they work at the interest of the people and not base their actions on fear of actions being taken by the company. This was one of the major ethical dilemmas that CBS had placed itself in. It was now serving its own interests based on assumption rather than the interest of the people. It was revealed that the management of the CBS has chosen not to air the interview purely for monetary reasons. According to the study, it was revealed that the CBS did not want to taint their name with any legal issues particularly litigations, considering that they were at the verge of selling their company with the Westinghouse, and negotiatio ns were at critical level. This envisaged litigation was seen to have the potential of lowering the company stock.