Porter Novelli Free Essay Example, 1500 words

Heckman (2011) points out that, effective leaders formulate competitive strategies that are implemented to make an organization competitive within the market place. Nonetheless, strategic leaders form part of executing strategy. Venkateswara (2004) argues that strategic leaders do not only formulate or craft policies, but they also set examples by executing them. Ideally, the leaders’ primary responsibility is to implement the chosen strategy and reveals the action plan to other employees. Primarily, the strategic leaders build an organizational culture that drives the realization of the formulated strategies. They direct the efforts of the employees towards achieving set high goals in the organization. In fact, the management team accomplishes competitive, distinctive capabilities that make organizations profitable consistently. Arguably, strategic leadership helps in choosing the right people that are best placed to execute strategies within organizations. They pick correct roles, and right people to suit such roles. Procedurally, the strategic leaders evaluate the performance of individuals within the organization and measure the performance of the organization in general. Karin Behrens (2008), posits that the organization’s leadership must always remain agile to ensure stakeholders pursue the formulated strategies effectively. We will write a custom essay sample on Porter Novelli or any topic specifically for you Only $17.96 $11.86/pageorder now Without performance evaluation, the enterprise is destined to failure. Strategic resilience makes the organization successful. The leaders evaluate their performance and measure the performance of others as a way of ensuring there is boosted performance at the firm. On the other hand, effective or strategic leaders nurture and utilize talents within and outside the organization. Talent management within an organization is quite critical. Karin Behrens (2008) believes that proper management ensures efficient utilization of skills that results in greater achievement to the organization. As such, talents must be identified and properly managed within the organization. However, the internal abilities must be aligned to meet both the long term and short term objectives of the organization. According to Bourne, Melnyk, and Faull (2007), this process entails building the needed talents from within the business as well as outside its in boundaries. There ar e five-point criteria used to evaluate the performance of individuals within the organization. I. Strategic congruence It is the evaluation of performance based on the alignment of the goals of the organizations to the strategies of the organization.

Stereotypes About Black People From The Times Of Slavery

Furthermore, the men sing the Roustabout song with the lyrics, â€Å"We work all day, we work all night, we have no life to read or write, we’re happy. We don’t know when we get our pay, and we do we throw our money away (Towbin et al. 32).† Not only are the lyrics are false, but also references negative stereotypes about black people from the era. Moreover, Joffe states that this scene subtly replication slaves singing on the plantation back in the times of slavery. Following these claims, Joffe connects negative stereotypes to racism. In her words, â€Å"[i]f those stereotypes are in regards to a certain race, generalizing their characteristics, abilities, or qualities specific to that group and distinguishing it as inferior or superior to another race, then those stereotypes cross the line into racism† (27). This means that negative stereotypes about the laborers in Dumbo are in fact racist. For the sake of the paper, racial, negative stereotypes will be synonymous with racism. The second scene that many scholars argue uses negative stereotypes is with the crows in the tree. To first understand why this scene is racist towards the black community, one must prove that the crows are black caricatures. Because one cannot tell ethnicity by physical appearance because they are crows, one must analyze the speech patterns to determine the animations are black embodiments Wainer uses line, â€Å"Uh, what’s all the rookus? C’mon, step aside brothuhs, uh, what’s cookin’ around heah? What new?Show MoreRelatedRacism And Racism1404 Words   |  6 PagesBeginning from the Western slavery, caused and created mostly for economics reasons, racism consequentially was promoted through law and social institutions. Using various means of dehumanization, marginalization of African Americans, and creating and legitimizing their image as a lower race, racism has been cultivated in society for hundreds of years. Gradually racism and racial stereotypes were woven into language, science, wide social opinion. The biological interpretation of the race has dividedRead MoreIn The United States, Not Only Are Latin Women Being Misunderstood,1508 Words   |  7 Pagesalso stereotyped by other people. Latin women are discriminated in their dressing and service occupations, while African American Americans are stereotyped in sexually promiscuous, caregiving role, and â€Å"welfare queens.† Both of them are victims of racial stereotypes, which affect them negatively on their identities and characteristics. However, the differentiation of their cultures makes them being stereotyped in distinct aspects. Some of African American women’s stereotypes are caused by their historicalRead MoreThe United States1202 Words   |  5 Pageshistory of satirizing African Americans in books, television, and film. These stereotypes started with minstrel shows and still run rampant in today’s popular culture. Although numerous Americans find African American generalizations like the Sambo or Black Rambo harmless and entertaining, in reality they are the epitome of mortification and inequality for Black Community. The first black stereotype created was the Black Sambo. The moment Rice stepped on stage in blackface and tattered clothes doingRead MoreSlavery And The Black Race1526 Words   |  7 PagesSlavery and the black race in America cannot be separated since slavery is a big part of the history of African Americans from the 18th century to early 20th century. There are many issues to consider about slavery and the lives of the slaves at the period. One of those issues is the role played by women slaves in the societies of the time. Deborah White writes about how women slaves had a different life compared to the other white women and compared to the male slaves. However, it is the statementRead More The Character Message in The Conjure Tales of Charles W. Chesnutt1466 Words   |  6 Pagesearly black writers such as Chesnutt was their audience. The problem of the black experience in America arose from the refusal of the whites to perceive black experience accurately, and the artists task was not simply to present the truth to the white minds, but to change those minds so that they could perceive the humanity of the black and the inhumanities which he suffered in America (Chesnutt, 346). According to Baldwin, whites had to be trained to perceive black experience from the black pointRead MoreCharacteristics Of The Following Stereotypes1304 Words   |  6 Pagesthe following stereotypes? o Aunt Jemima/Mammy - Mammy represented as a defense to slavery. She was born in ante-bellum America and was portrayed as fat, pitch-black, and happily obedient to her master and mistress. Mammy was docile, loyal, and jovial, and understood her value of society. She was considered the antithesis of white ladies, white ladies being fragile and beautiful. She was also classified as sexual. In her own family, she was the leader, an indication that black people cannot make itRead MoreReasons For The Compromise Of 1877899 Words   |  4 PagesCompromise of 1877, many supporters of black rights, such as freed slaves or radical Republicans, believed that conditions for freed blacks were worse than they had been when they were enslaved. Though there were definitely upsides to freedom from slavery, many conditions blacks lived under either didn t change or got worse after the Compromise. For example, the removal of the military from the South allowed the southern government to pass laws limi ting blacks rights, meaning the social, politicalRead MoreRacism And Aversive Racism1618 Words   |  7 Pagesterm ‘aversive racism’ seeks to encompass the nuanced and profound experiences of prejudice faced by racialized peoples in societies whose values do not accommodate explicit discrimination based on race. This form of â€Å"subtle racism†, which in the words of Donald Glover in â€Å"Hold You Down†, you’d only understand through lived experience, is but one facet of a larger social problem: anti-black racism (Glover 2011). Personal understandings and experiences of aversive and explicit racism, detailed in musicRead MoreNo Sympathy for Slaves in Mark Twains Work980 Words   |  4 PagesMany writers on the African-American diaspora have attempted to capture the black experience in America, although some to no avail. Most Black authors like Zora Neal Hurston, Martin Delaney, and countless others have succeeded in painting the most accurate image of black people with the characters in their stories. Nevertheless, some authors fail in their portrayal of black people by using recycled economic stereotypes, highly metonymic based characters, and Fetishization. Questions often ariseRead MoreBlack Stereotypes in the Harlem Rennaissance1245 Words   |  5 Pagesdiscussed a variety of black stereotypes portrayed in the media during the Harlem Renaissance. During the 1920s, there were specific stereotypes associated with Classic Blues vocal performers-especially black female artists. These stereotypes were based on the â€Å"Mammy† figure, which dates back to slavery. Female classic blues artists were portrayed as buxom and â€Å"hyper sexualized.† The idea of sexually independent women was considered immoral, so it is of no surprise that the stereotypes were unfair and damaging

Reason and Scholarship free essay sample

Being able to live to see this day is an honor, but being able to apply for this scholarship is truly a blessing. There are many reasons why people choose to apply for scholarships. Some may even have pros and cons. Today, I’m applying for this scholarship for benefits and less worries. I have some many reason why I would apply for this scholarship but I will only list three. I believe I’m the candidate for this scholarship because I am a very persistent person, I am unique, and I am able to do anything that is possible. I think I should be chosen for this scholarship because I am persistent. If something needs done in one day, I’m determined to meet my goals. I truly believe I can do all things through Christ who strengthens me Another reason why I think I should be chosen for this scholarship is because I am unique. We will write a custom essay sample on Reason and Scholarship or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Everything I do is different and creative. I try to come up with creative things in creative ways. Most of all, I am one of a kind. Finally, I think I should be chosen for this scholarship is because I can overcome obstacles. Give me your hardest task, I will make a way to do it. Even during the hardest trials I will overcome them. Nothing can stop, block nor hinder me from overcoming my obstacle. Since I have made it obvious that I am persistent, unique, and able to overcome anything, it should also be obvious that I embody Philippians 4:13. Therefore, since I am the type of person who will succeed if give help to do so, I believe I am very deserving of the scholarship presented by Gadsden State Community College. After all, I am going to be a world changer so your instruction will be helping me fulfil my destiny.

Share Holder Wealth Maximization Vis a Vis Social Responsibility

Introduction Limited information is found on how economic enterprises can incorporate business ethics and social responsibility as a means through which their primary objective of shareholder wealth maximization is achieved (Hawley 1991, p. 714).Advertising We will write a custom essay sample on Share Holder Wealth Maximization Vis a Vis Social Responsibility specifically for you for only $16.05 $11/page Learn More This lack of ethical considerations seems to be not only confined within the academic sphere but there is evidence of it taking a toll in the realm of corporate practice in the economy. Enterprises have ignored the ethical concerns in strategizing on how they will achieve their goal of wealth maximization. Through their total disregard of ethical issues, corporates are assuming that the mere pursuit of the wealth maximization goal meets the social responsibilities that could possibly be expected from any entity. However, there has been limited research and analysis of the ethical foundations and the perceived implications of the goal of shareholder wealth maximization. This paper seeks to analyze to what extent the corporate world incorporates business ethics and social responsibility in pursuing their primary objective of maximizing the shareholders’ wealth and how this pays back in terms of increased returns to the shareholders. It highlights the main differences between the goal of profit maximization and that of wealth maximization and the role played by market forces in the pricing of stocks within the shareholder wealth maximization paradigm. It argues that empirical and theoretical evidence on this subject will most usually lead to overlapping interpretations (Smith 2003, p. 58). Share Holder Wealth Maximization Since Milton Friedman’s largely criticized position that â€Å"the social responsibility of business is to increase its profits†, the ethical aspect in the maximization of shareholder wealth has been given a wide consideration. In order to build a logical analysis of this notion, it is of paramount that we understand the crucial link between the two distinct goals of a corporation, i.e. Wealth maximization and profit maximization. While the two may share some similarities, they are also characterized by various inconsistencies as analysed by Solomon in his work, (Solomon 1963, p. 2). For instance, profit maximization as an objective best suits a traditional macroeconomic market which is characterized by minimal uncertainties; the entrepreneur is the main decision-maker, the shareholding is fixed and determines within a given period.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More This kind of business structure is especially of great utility in analyzing the variables, i.e. Prices of raw materials and end products, production level etc., which occupies a central position for any corporate whole. According to Winch (1971, p. 14), profit maximization goes hand in hand with the ethical goal of the utilitarian mode of resource allocation. Contrary to the microeconomic world, proper allocation of resources is very integral to a corporate entity in regard to its financial dealings (Beurden Gossling 2008, p. 412). This difference in terms of the central focus of each establishes new fundamentals which the profit maximization paradigm declines to involve itself with. For example, this whole new structure separates the entity’s decision making from its ownership and places it in the hands of a separate and distinct management body. As this happens, uncertainties on the future earning capability of the firm sets-in when capital stock features in as a variable to be determined too. The goal of wealth maximization is developed by maximally utilizing the utility maximization strategy, i.e. management, being agents of the shareholders are required to max imize the projected utility of the shareholders’ wealth. If for instance wealth is the main argument in the utility of the shareholder, maximizing the anticipated utility of the wealth of the shareholder reduces the core objective of the entity as maximization of shareholder wealth. To this end, the ethical concept of a corporate finance adopts the same approach as that of microeconomics as use of utility maximization incorporates characteristics of the utilitarian ethic (Shaw 2009, p. 569). Conversely, the introduction of an element of the future, uncertainty, separated decision making structure creates complications in utilitarian allocation of resources. When even this basic objective cannot be achieved, it only holds strong for the argument that wealth maximization is incapable of providing a feasible ethical foundation for a corporate entity.Advertising We will write a custom essay sample on Share Holder Wealth Maximization Vis a Vis Social Responsibility specifical ly for you for only $16.05 $11/page Learn More Nevertheless, some essential features of wealth maximization are not included in the utilitarian resource allocation framework. For instance, the wealth of the shareholder is directly linked to the price of capital stock and in extension, the mode through which marketing for ownership claims contains elements of ethical concerns by the entity (Wilcke 2004, p. 198). Working on the assumption that the main objective of an entity is wealth maximization, various issues can be identified. For instance, since wealth maximization is completely dependent on market forces in order to create a strong value for the ownership of the firm, a question arises whether these market forces bring about stock prices incorporating the value of the social responsibility of the firm. To answer this question, we need to determine to what extent security prices reflects information on a firm’s ethical concern. Unfortunately, if t his debate continues, it will take us to the more irresolvable question of what the world perceives as constituting proper ethical behaviour. It even gets more complex when management, as the agents of shareholders, gets into the picture and we are faced with the question of whether shareholders would count management actions as constituting acceptable ethical behaviour (Cosans 2009, p. 396). Determining Share Prices Determination of security prices is a fundamental concern of corporate finance. Through efficient market hypothesis, the price of securities is a reflection of the information available to investors when making investment decisions. Through the market hypothesis, we can attempt to analyze the ethical impacts of the wealth maximization goal. For example, if wealth maximization is to meet a specified ethical standard, the price of securities should incorporate information containing ethical elements. In order to succeed in this, we need to first set an ethical standard. T hen empirical tests will be carried out based on the changes in prices of securities and determine the impact of ethical issues on the market prices.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The analysis will be made based on the assumption the main goal of the management is maximization of shareholder’s wealth (Husted Salazar 2006, p. 83). The hypothesis could also test on separate aspects, for example when a certain firm has been known to exhibit differing degrees of adherent to ethical issues. But this latter hypothesis will present various challenges. For example, there may be a situation whereby an organization allows management to engage in both socially acceptable behaviour as well as unethical acts which are perceived to result into positive effects. This may occur where the returns of the illegal acts are significant as compared to the costs to be suffered when such acts come to light such as litigation costs, fines and other penalties, reduced goodwill, etc. there could also be other mitigating factors such as the ability to keep the illegal activities as well hidden company secrets or by putting up strategies for timely damage control when such activi ties come to light. Besides, even when using efficient market hypothesis, it is hard to tell whether if an alternative course of action was taken it would have resulted in a different price change pattern. For example, it would be difficult to determine whether the unethical behaviour was a reflection of the ethical failures of the wealth maximization goal or that management diverted from practices consistent with wealth maximization objectives. This debate is premised on the idea that the efficient market hypothesis, by its very nature is characterized by joint hypothesis, i.e. price determination models are usually implied. Such an assumed model of price determination if it dictates that we assess a particular ethical issue, then a null hypothesis of the efficient market hypothesis requires that unethical act would violate the primary goal of wealth maximization. According to Treynor (1981, p. 7), management should address financial demands of the different factions within the org anization if it is to emerge as a successful entity. These factions include customers, employees, suppliers and other stakeholders. The wealth maximization goal requires that in pursuing its objectives, a corporation should take into consideration the interests of all the stakeholders of the organization, not just the shareholders. Thus we can use this argument to say that wealth maximization encourages the adoption of socially responsible business behaviour. The crucial connection between wealth maximization and the efficient market hypothesis can be well illustrated using the classical corporate theory. This theory proposes that a firm would most likely invest in a project projecting positive net present value. The variables used to calculate the projected cash flows is based on the performance of the firm which has been theorized by the management where it may have or may have not incorporated ethical behaviour. Here, the price of securities will be based on the managementâ€℠¢s assessment of the market. Including social responsibility and ethical behaviour in calculating the projected cash flows will be in line with wealth maximization where such considerations are reflected on the prices of securities. Empirical Considerations As we have noted above, empirical evidence does not help us determine whether pursuing wealth maximization will amount to a socially responsible and ethical managerial behaviour. It requires us to define what constitutes proper ethical behaviour and since ethical issues are complex in themselves, it will create conflicting opinions on the subject. Nevertheless, we can draw from the few theoretical and empirical studies relating to the impact of socially responsible behaviour on the price of stocks. In this light, it has been argued that price fixing has the potential to increase new entrants into the market industry leading to higher competition and thus diminishing returns (Waldman 1988, p. 78). Therefore, if the wealth maximiza tion is the main objective, price-fixing is aimed at offsetting losses in profit by offering a lower discount rate facilitated by a reduced business risk leading to a higher net profit margin. Yet, if this is not the end result, then price fixing will ultimately have the effect of reducing shareholders’ wealth. Research has shown that disclosing a legal action intended to correct corporate price fixing has resulted in significant negative returns (Skantz et al. 1990, p. 159). On this basis, while the reduced returns could be the market’s punitive costs for behaving unethically, it could also have arisen from a perceived increased business risk which has nothing to do with ethical issues. This is further evidence of the difficulties encountered in attempting to use market data to determine whether pursuing wealth maximization leads to ethical outcomes. Since the reduced returns arose because the market became aware of the unethical behaviour and not because of engaging in the actual price fixing, a question arises as to what information was originally included in the prices. If the original share price were impacted by information on the firm’s engagement in price fixing, then the reduced returns could mean that the entity needs to adopt a risky, highly competitive, reduced profit margin business policy. Here, the anticipated litigation costs arising from court cases will be expected to have been discounted into the stock prices. However, if price fixing was done in secrecy, then news on a legal action would lead to price adjustment to reflect the resulting costs of unethical act, which would include the lost goodwill. For this, the costs that would be involved in adopting a more competitive strategy are already reflected in the price. The probability of reaching different conclusions using the same piece of evidence has been found in other areas of our present concern. There is evidence that in making investment decisions, investors do ind eed rely on the information available on social responsibility (Patten 1990, p. 581). Other sources reveal superior investment performance of previously divested portfolios, though these results could have resulted from a combination of factors as opposed to mere social concerns. This may be explained in a number of ways. For example, following the net profit value method, the corporate financial theory holds that slight changes in either the projected net cash flows or the perceived discount rate impacts on the returns of capital stocks. Therefore, the grand performance of the divested funds may have resulted from a continuing increased risk or a weakening expected corporate performance as opposed to any ethical issues concerned. This argument can also be applied to the impact of ethical behaviour on investment in the nuclear industry. It has been found that markets place a lower value on nuclear firms at 20% as compared to other industries (Fuller at al. 1990, p. 124). On careful consideration, the results reveal that perceived risk changes could have contributed to the valuations observed. Thus this leaves us with the option that social responsibility concerns could have had a positive effect on the whole affair. As witnessed above, untangling the effect of a certain activity on the prices of stock has its own complexities. Besides, we have to give room for the possible assumption that management may not be pursuing wealth maximization. There is significant evidence that often times, management has been known to unethically chase their own selfish ends especially if they are in conflict with shareholder wealth maximization (Findlay Whitmore 1974, p. 28). This will give rise to additional agency costs which the shareholders will incur to monitor management activity and in effect, will lead to reduced returns. When agency costs are involved the equation becomes even more complicated as we need to now to assess the effect of agency costs on the security price s. Evidence of price fixing can be used to explain how agency costs bring-out a whole new interpretation of the empirical data. For example, working on the assumption that there is no diverging information, the stock market values its own stocks from the assumption that wealth maximization is the main objective of the firm. On this basis, announcement of a legal action could produce reduced returns because of the additional costs incurred in monitoring the activities of the management and not because of the unethical behaviour. Therefore, without a way of determining what kind of information was included in the original share price, major difficulties arise in trying to assess whether a certain pricing activity was impacted on by social responsibility behaviour. This raises the requirement for exercise of caution in interpreting the results of any given Empirical Study. The effect of agency costs may also help in the analysis of study results obtained for other perceived unethical a ctivities, more so in the area of mergers and acquisition whereby there are insider dealings by the management. Of particular relevance is the case of hostile takeovers. Drawing from debates on what constitutes ethical behaviour (Jones Hunt 1991, 839), we can base our argument on the assumption that hostile takeovers are unethical. As such, it would appear that, ethical behaviour is being rewarded in this scenario. This is because, ordinarily, the returns of the target group increase significantly while those of the hostile bidders become negative to zero following the announcement of the intended takeover, (Franks Harris 1989, p. 238). Further, due to the existence of agency costs, the use of ‘poison pills’ or ‘shark repellants’ by target management will most probably result in negative returns on the part of the target shareholders (Meulbroek et al. 1990, p. 1113). So do these results support the argument that ethical considerations on hostile takeovers are evidenced in stock prices? Unfortunately, this evidence raises even more questions rather than answering them. For instance, given the potentially negative returns suffered by bidding shareholders, it would not be appropriate to say that the management bidders are pursuing wealth maximization for their shareholders, thus increasing the likelihood of incurring agency costs. On the other hand, it is likely that the bidding management only pays high prices to the target group innocently since the target bid premium payable is in most cases given back through wage concessions. Besides, the ‘unethical’ bidders will most likely be the targets in the future other than the bidders who helped increase the firm value. Thus from this conflicting evidence, it is only the unethical takeover activities that are properly reflected in the ultimate prices of stock. Undoubtedly, this is as a result of the obvious reduction in firm value that is a unique feature of the anti-takeover strategies. Conclusions This paper has argued that wealth maximization as an objective will naturally adopt the ethical expectations inherent in its particular niche of operation. The best indicator of management’s performance is the price changes of the entity’s stocks in the capital market. Though management decisions could incorporate ethical concerns, it is the security market to determine whether these decisions are in accordance with wealth maximization goal through a valuation of stocks. Thus, this raises the question of to what degree is ethical behaviours reflected in the prices of securities? This question requires a careful study on the implications of unethical behaviour to the ultimate stock prices. But this presents a problem in that there is no established procedure on how to determine what does or does not constitute ethical behaviour, among other difficulties. For instance, assuming that stock markets rewards certain business ethical behaviour through attractive prices of securities, it does not automatically follow that when one pursues wealth maximization it will result into a socially responsible corporate behaviour. However, enterprises would most likely choose this path by choosing to believe that as long as actions are geared towards wealth maximization, then they are ethical and, therefore, justifiable. With this, changing management policy may become a big challenge since even reduced securities prices may not be adequate market sanctions. Thus even if it was determined that managerial decisions need to incorporate ethical considerations, market forces will not be sufficient to induce this. From this we can conclude that pursuing wealth maximization for the shareholders will definitely not result to a socially responsible corporate behaviour. However, evidence shows that the pursuit of wealth maximization could deter an entity from engaging in illegal activities. For example, a negative pattern of security price changes i s noted whenever it is revealed that an entity has been engaging in illegal activities. Generally, it would appear reasonable to conclude that the stock market presumes that entities try to avoid engaging in illegal activities because of the possible incidental costs that they may suffer from engaging in such activities. References Beurden, P Gossling, T 2008, ‘The Worth Of Values – A Literature Review On The Relation Between Corporate Social And Financial Performance’, Journal Of Business Ethics, vol. 82 no.1, pp 407-424. Cosans, C 2009, ‘Does Milton Friedman Support A Vigorous Business Ethics?’ Journal Of Business Ethics, vol. 87 no.1, pp 391-399. Findlay, M Whitmore, G 1974, ‘Beyond Shareholder Wealth Maximization’, Financial Management (Winter), vol. 1 no1, pp. 25-35. Frank, J Harris, R 1989, ‘Shareholder Wealth effects of Corporate Takeovers. The U.K. Experience 1955-1985’, Journal of Financial Economics, vol.1 no.2, pp. 225-249. Fuller, R, Himman, G, Lowinger, T 1990, ‘The Impact of Nuclear Power on the systematic Risk and Market value of Electricity Utility Common Stock’, Energy Journal, vol. 2 no1, pp. 117-113. Hawley, D 1991, ‘Business Ethics and Social Responsibility in Finance Instruction: Abdication of Responsibility’, Journal of Business Ethics, vol. 3 no.2, pp. 711-721. Husted, BW Salazar, DJ 2006, ‘Taking Friedman Seriously: Maximizing Profits And Social Performance’, Journal Of Management Studies, vol. 43 no.1, pp 76-91. Jones, T Hunt, R 1991, ‘The Ethics of Leveraged Management Buyouts Revisited’, Journal of Business Ethics, vol. 3 no.4, pp. 833-840. Meulbroek, L, Mitchel, M, Mulherin, J, Netter, J Poulsen, A 1990, ‘Shark Repellents and Managerial Myopia: An Empirical Test’, Journal of Political Economy, vol, 1 no.4, pp. 1108-1117. Patten, D 1990, ‘The Market Reaction to Social Responsibility Disclosures: The Case of the Sullivan Principles Signings’, Accounting, Organizations Society, vol.1 no.5, pp. 575-587. Shaw, W 2009, ‘Marxism, Business Ethics, And Corporate Social Responsibility’, Journal Of Business Ethics, vol.86 no.1, pp 565-576. Skantz, T, Cloninger, D Strickland T 1990, ‘Price-Fixing and Shareholders Returns: An Empirical Study’, Financial Review, vol.3 no.5, pp. 153-163. Smith, CN 2003, ‘Corporate Social Responsibility: Whether Or How?’ California Management Review, vol. 45, no. 4, Summer, Pp 52-76. Solomon, E 1963, The Theory of Financial Management, Columbia U Press, New York. Treynor, J 1981, ‘The Financial Objectives in the Widely Held Corporation’, Financial Analysis Journal, vol.1 no.5, pp.5-15 Waldman, D 1988, ‘The Inefficiencies of Unsuccessful Price Fixing Agreement’, Antitrust Bulletin, vol.6 no.3, pp. 67-93. Wilcke, RW 2004, ‘An Appropriate Ethical Model for Business and a Critique of Milton Friedman’s Thesis’, The Independent Review, vol IX, no. 2, pp 187-209. Winch, D 1991, Analytical Welfare Economics, Penguin, Harmonsworth, U.K. This essay on Share Holder Wealth Maximization Vis a Vis Social Responsibility was written and submitted by user Izaiah H. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Home Cooking Versus Restaurant free essay sample

According to several surveys, the best places for relaxing are Hawaii Island, South Beach, and Savannah. Actually, those three places have too many things to do for free. First of all, Hawaii Island has Hapunas beach where the soft white sand and rolling waves are warm in summer where tourist can relax around the water. Free bus system, if no one wants to spend money or rent a car at the Kona international airport it is an option to relax ,and do not be stress with traffic. Akaka falls State park is open daily, and is free to enjoy, and walk the park in 30 minutes where tourist can relax and walk around there. In addition, Hilo farmer market where can shopping such as seafood, produce, clothes and fresh fruits in fact is open every day so tourist can eat fresh food. On the other hand, be able to make your favorite dishes and relax in your hotel. We will write a custom essay sample on Home Cooking Versus Restaurant or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page In conclusion, Hawaii has too many places for relaxing and not spending lots of money. South beach has beautiful places to relax. For example sagamore hotel has a beautiful ocean view also it has two pools where travelers can seat around, relax and also can walk to the ocean. In addition, it has a nice restaurant bar around the pool area also the food in there is delicious where the menu has different kinds the meals where travelers can relax. Next, Mangos nightclub is a very nice place to dance and meet new friends. In addition, at Collins Avenue have too many places to shopping also a very famous spa to have a nice massage and relax.

Internet Impact on Business Essays

Internet Impact on Business Essays Internet Impact on Business Essay Internet Impact on Business Essay Name: Lecturer: Course: Date: Internet Impact on Business The invention of the internet has revolutionized the human civilization in all aspects including culture, perception and even the corporate sector. Particularly, the internet has greatly facilitated globalization in the corporate realm since the business operation is not bound by government policies such as taxes and duties that mainly characterize business in the physical realm. It now evidenced that all of the major companies worldwide are internet companies. This means that these companies have websites of the own where business can be conducted across the globe as long as one can afford internet connection. The inception of the internet influenced the global market through the introduction of E-commerce. Electronic commerce is whereby business entities get to conduct their business communication and transaction through the internet. In this way, the company communicates with its various stakeholders through the utilization of the interchange of electronic data for the facilitation of completing transactions. Business entities are now able to conduct entire transactions online whereby the consumer does not have to visit the premises for purchase. The firms display their commodities in the web pages whereby potential consumers can view freely, payments are also facilitated through internet facilities such as Paypal and commodity is shipped to the consumer. Airplanes companies have also adopted E-commerce whereby passengers get to book and pay for their tickets online. The internet has also led to the availability of low priced commodities due to competition and its ability to minimize costs across the companies’ supply and demand chains. Retail stores no longer need to open up new stores in order to explore new global markets. The customers in these new markets only need to access the commodities sold by the retail stores and the necessary purchases can then be made. This means that the company does not necessarily have to incur additional costs such as the acquisition and setting up of premises, hiring of new staff and the like. The above costs that are forgone by the business entities are availed to the consumers in terms of discounts and reduced prices. The utilization of the internet has also enabled the multinational business entities to overcome some of the trade barriers imposed by some of the nations. Globalization is seen as killer to small-scale local companies. In the process, states usually impose stringent legal barriers for foreign companies in the effort of protecting the local companies. However, through the internet, foreign companies are able to override these stringent barriers and avail to the consumer competitive products. On the other hand, the internet also tends to create a level playing field for all the business entities irrespective of their size or origin. When customers are perusing through commodities in the internet, their focus is primarily on the quality of the product and its price as opposed to the supplier. In the process, the business entities that get to offer products at the most competitive prices usually make the sales. However, the use of the internet especially in conducting has raised securit y and confidentiality concerns. This has also created an extra expense in the form of putting up security efforts to ensure transactions are and secure.

Reflection of Class International Marketing Essay

Reflection of Class International Marketing - Essay Example that this is one of the best courses I have ever taken as it opened my eyes on how culture plays an important factor in business operation, choose between standardized or localized approaches in marketing, conduct country and market analysis, and understand entry strategies. The most interesting lesson presented in the class has been how culture contributes to and hinders the success of a business organization opting to expand in other countries. This course opened my eyes why there is no â€Å"one size fits all† strategy for different markets. It stressed the importance of business organizations’ adaptation to the economies where they operate. I believe that these points are very much important to the growing me-economy where customers demand highly unique products in order to address their individual needs. After the course, I believe that a company’s success hinges on its ability to evolve and recreate itself in order to suit the needs and preferences of the market. After all, this is what marketing is all about. I also have to mention that I enjoyed all the aspects of world culture presented in the class. It is exciting to note the differing consumer perceptions around the globe. I highly appreciate the professor’s strong encouragement for us students to participate in the class activities. I should also say that I have not been as active as my classmates because of my quiet personality. However, even for a silent and shy person like me, I have to admit that my colleague’s participation really made the class a fun experience. Participation makes learning more engaging and easier. Honestly, I have built friendships in the class which is very uncommon as I always find it very hard to open up myself and ideas to other individuals. Our class has truly provided a fertile ground for academic and social development. I know I have a lot to thank my professor