We are here with you hands in hands to facilitate your learning & don't appreciate the idea of copying or replicating solutions. Read More>>

Looking For Something at vustudents.ning.com? Click Here to Search

www.bit.ly/vucodes

+ Link For Assignments, GDBs & Online Quizzes Solution

www.bit.ly/papersvu

+ Link For Past Papers, Solved MCQs, Short Notes & More


Dear Students! Share your Assignments / GDBs / Quizzes files as you receive in your LMS, So it can be discussed/solved timely. Add Discussion

How to Add New Discussion in Study Group ? Step By Step Guide Click Here.

Today’s organizations are facing stiff competition due to rapidly changing trends, unending advancements in technology and above all the knowledgeable customers. On the other hand profitability is the basic and utmost requirement of an organization to survive in such a highly competitive and turbulent environment. 

In some situations, it becomes very difficult for organizations to create a balance between the ethical practices and profitability. In your opinion how is it possible for an organization to continue business maintaining a good balance between the profitability and ethics?

+ How to Follow the New Added Discussions at Your Mail Address?

+ How to Join Subject Study Groups & Get Helping Material?

+ How to become Top Reputation, Angels, Intellectual, Featured Members & Moderators?

+ VU Students Reserves The Right to Delete Your Profile, If?


See Your Saved Posts Timeline

Views: 1218

.

+ http://bit.ly/vucodes (Link for Assignments, GDBs & Online Quizzes Solution)

+ http://bit.ly/papersvu (Link for Past Papers, Solved MCQs, Short Notes & More)

+ Click Here to Search (Looking For something at vustudents.ning.com?)

+ Click Here To Join (Our facebook study Group)

Replies to This Discussion

 On one side of those who claim that all that contradicts with the task of managing earnings will reduce the overall well-being by increasing costs and prices, and therefore wrong definition.

Nonsense, activists retort on the other side, who declare that it should not be tainted and others external costs to society be allowed to get away with it.

The irony here is that both extremes of the same assumption sharing, is the "morality" and "care" are opposites. So are confused, or at least consider that alone the expense of the other party.

But what if this assumption is false and the opposite is true? In fact, shows the need for trade-offs that the wrong idea in other areas where the senior management consists precisely in reconciling both sides of the spectrum. Thus the Japanese companies, commodities showed a combination of high quality and low cost of production.

It was almost 12 years, arguing that the same is true for the economy on the environment - Professor Michael Porter - not liberal softie it. Standing there is no trade-off - companies can both not only lean and green, but one necessarily implies the other.

So far, research on the financial performance of the companies 'ethical' versus 'unethical' is incomplete - which is one of the causes of infertility debate. Now, however, the British Institute of Business Ethics (IBE) claims to have added significantly to the evidence that pay ex. In his report, "Does Business Ethics Pay?" International Bureau of Education is that in a sample of FTSE 350 companies 'ethical' that such claims on three of the four financial measures (outperformed the market value-added [MVA], economic value added [EVA] and price / earnings). Between 1997 and 2001, concluded, "There are strong indications that the large companies in the United Kingdom with the work ethic codes / make above-average performance when measured produced against a similar group without symbols.

If they hold up, and this is important, so crucial and results. But ethics are difficult to measure. Even before we consider too much, it is important to be aware of the reservation. The authors of the book was based on a previous study methodology United States by Dr. Curtis Verschoor from DePaul University, Chicago, which also showed a positive relationship between ethical behavior and superior financial performance.

Verschoor said the policy uses ethical in the annual report as a substitute for good. Request of the International Bureau of Education to improve this by choosing the companies that actually have been a published code of ethics for five years. Of course, this does not prove anything in itself. Enron was a code of conduct, and good in many ways, according to the director of the return of Foster Philippa IBE. And that no one follows the problem.

 

To ensure that the companies actually lived their code, the researchers examined the IBE how stacked in the order "company most admired" annual management today, a survey of companies from colleagues and experts on non-financial aspects of performance. This has been tested in the evaluation of corporate governance social and ethical risks (such as aspects of mismanagement, and lack of community involvement and human rights violations) by the rating agency specializing SERM.

The first conclusion was that there is a strong correlation between the presence of a code of conduct, and address the non-financial risks effectively, a company admired. In other words, with a code that indicates that business ethics seriously. Thus, 19 of the 24 companies that consistently day management of the classification of thought for the past five years have ethical rules are evaluated by SERM people without symbols.

On the financial front, try the IBE to enhance results by expanding the United States in the management of MVA (the difference between the cash investors and cash out) with a comparison between the EFTA (estimate economic profit real), the return on capital employed (ROCE) and the price multiplier profitability / . The results were positive again. Over the past five, not code much better equipped companies on the MVA and EVA than their competitors - and it seems that the widening gap. There is "convincing evidence" that companies that have symbols ratio P / E is more stable than those who do not. The fourth on a scale, ROCE, and the results are less clear, with the 'moral' performance monster until 1999 but then outperform their competitors.

What could explain these results? While the relationship between ethics and performance is still strong, does not prove that one causes the other. Example that high-performance companies to adopt codes of conduct, rather than the other.

Foster admits that back since Enron and others have shown that it is not the law itself that is important, and raised new questions about how to search the links. 'How' of the case, rather than 'what' will be the subject of subsequent search IBE.

In the meantime, the assumption that the values ​​represented by the way the code is an integral part of the organization that makes the difference. He lived more values, the better and more consistent decision-making at all levels, and an increased level of trust, and staff more confident and motivated and less risk of costly damage to the reputation of the company. It can be expected that the spiraling growth of customers and suppliers and other stakeholders to embrace. Verschoor also takes this view.

Another way to say it, can à Porter, to be anti-social behavior is a type of waste. The green measurement of the action plan from the beginning to the end probably less expensive than repairing the damage after the event. Because ethical, such as green, can promote innovation, and that steals lead on companies that are still less picky along morality "have no place in the way of work.

In any case, by suggesting strongly that there is no inherent contradiction between good and in good health, and the results indicate a welcome shift IBE of fertile land ethical debate. How it works is still 'black box' that should be explored, but we can at least start from the International Bureau of Education carefully the claim that the "code of business ethics with ... maybe we can say that a feature of the company that well managed," rather than wasting their own money. plz chnage it.

1- sbse pehle ap ethical behavior implement krna senior management se shuru krte ho. jtni ethical management hoge utna he ethical staff hoga. hence more profits.
2-  phir ap apne staff members ko personal ethics k bare mein bolte ho, unke personal ethics k high standards houn ge tu wo work environment mein b un ethics ko implement (use) kr sakain ge. mtlb unka ghar pr aur office mein donoun jgah pr honest kam hoga - more profits.

3- ap customers ko highest priority pr rkho, ap customer k sath honest dealing kro. jb customer apki honest dealing daikhe ga wo impress hokr ap se he apni business dealings kre ga ksi aur k pas nai jai ga - mtlb long term profits.

4- ap apna kaam ethical rkho ge vustudents.ning community wale daikhain ge, community wale frnds and family mein through word-of-mouth marketing apki tareef krain ge. ap nai clients secure kr sako ge, increasing profits. since marketing pr b apki buchat hoge.

5- fair play kro ge competition b sharminda hojai ga. win win situation

salaaaaam, mera solution sai nai hai kya nadia?

Here are some “ways” through which a company can maintain a good repute (keeping intact basic ethics) alongside a steady flow of profits.


(A) MANAGEMENT. The ethical stance of a company originates from the consistent integrity of its senior officers. From the first day in business, they inform all employees that the primary focus of the organization will be equitable and unbiased service. Customer satisfaction will always be given top priority.


These objectives should be proclaimed proudly in all media advertising. Members of the public, frustrated with the half-truths and price-gouging so prevalent in business today, will be more than willing to give this refreshingly honest enterprise a try.


(B) STAFF. The employees must also be committed to the maintenance of high ethical standards. In turn, they, themselves, must be treated as valued members of the organization and be well compensated for their work. Overtime hours and contributions to the efficiency and improvement of the operation must be recognized and rewarded.


The staff will become ambassadors of goodwill for the organization. Word will soon be spread around the community that the company is a great place to work,and there will be no shortage of skilled and qualified workers anxious to come on board as the company grows.


(C) CUSTOMERS. With competent workers, high ethical standards and an overall commitment to excellence, any organization will very quickly secure a nucleus of satisfied customers and all their repeat business.


Of course, there will be the occasional slip-up, whether through accident or human error, but when it happens, every employee will go out of their way to make amends and ensure that the customer suffers as little cost and inconvenience as possible. Steps will also be taken to assure that particular mishap will not be repeated.


( D) THE COMMUNITY. The community will become your advertising agents. You will be recommended to the friends and neighbours, relatives and co-workers of your regular customers. Your reputation for high ethical standards, honesty, and good service will draw an ever-increasing number of new clients . Your greatest problem will be finding time and room to expand.


(E) YOUR COMPETITORS. They will notice their customer base dwindling, and realize they either have to adopt improved professional practices or look around for another location outside the sphere of influence of your company and its satisfied and loyal customers.


The link between business ethics and profitability is undeniable. Smart business owners know this. They repay their staff and customers being honest, trustworthy, conscientious, and by sharing some of the benefits and profits they accumulate through others’ effort and loyalty .

You can’t stop others from maligning you, but a good reputation can come to your rescue when other members of your network rise to your defense without your even knowing it. We are, in fact, all caretakers of one another’s reputations. In a society in which simply being accused is enough to render a conviction in the court of public opinion, we would all do well to presume not only innocence but goodness until facts prove otherwise. We all need to be kinder to and gentler with one another.
A good reputation provides you a target at which to keep aiming. Sometimes you may not feel you deserve your reputation, that it’s better than you are. Rather than lament your weaknesses, let your good reputation serve as motivation for you to try to improve yourself.
A good reputation represents a great marketing strategy. When I find a service provider of any kind whose performance outshines their competition, they become like gold to me. I use them repeatedly, recommend them enthusiastically to others, and don’t begrudge paying them what they’re worth.
A good reputation inspires others. We all need positive role models, even the best and brightest among us.

MGT610 1 GDB Complete solution

Today’s organizations are facing stiff competition due to rapidly changing trends, unending advancements in technology and above all the knowledgeable customers. On the other hand profitability is the basic and utmost requirement of an organization to survive in such a highly competitive and turbulent environment. 

In some situations, it becomes very difficult for organizations to create a balance between the ethical practices and profitability. In your opinion how is it possible for an organization to continue business maintaining a good balance between the profitability and ethics?

There are some “ways” through which a company can maintain a good repute And also Earn alots Of proft.

1- If we Have Ethical Management Then we Can easily Create Ethical staff,With the Help Of Ethical staff We can achieve More and more profits for long term basis.

2- If we will Apply Honesty in our business then we Can Enjoy alots of benefits.Our Honesty is included In our Ethics And also with the Help of this Business can Enjoy a higher profits.

3- Our Staff Must have ethical behaviour then we can easily Create ethics in our Business environment.And iN this way we Can earn alots of profits becoz our repute in markets attract a lot.

4-Our Ethical work Advertised our Goodwill because we know that one person feel comfortable then he/she will through word of mouth not only in the market but also friends,family and realitives also.It can als increase Our Company’s profits.

5- If we give better response to our client then we will secured our client and its include in our business ethics And in this regard profit ratio is increasing easily.

MGT610 GDB SOLUTION 


Solution:

Here are some “ways” through which a company can maintain a good repute (keeping intact basic ethics) alongside a steady flow of profits.

(A) MANAGEMENT. The ethical stance of a company originates from the consistent integrity of its senior officers. From the first day in business, they inform all employees that the primary focus of the organization will be equitable and unbiased service. Customer satisfaction will always be given top priority.

These objectives should be proclaimed proudly in all media advertising. Members of the public, frustrated with the half-truths and price-gouging so prevalent in business today, will be more than willing to give this refreshingly honest enterprise a try.

(B) STAFF. The employees must also be committed to the maintenance of high ethical standards. In turn, they, themselves, must be treated as valued members of the organization and be well compensated for their work. Overtime hours and contributions to the efficiency and improvement of the operation must be recognized and rewarded.

The staff will become ambassadors of goodwill for the organization. Word will soon be spread around the community that the company is a great place to work, and there will be no shortage of skilled and qualified workers anxious to come on board as the company grows.

© CUSTOMERS. With competent workers, high ethical standards and an overall commitment to excellence, any organization will very quickly secure a nucleus of satisfied customers and all their repeat business.

Of course, there will be the occasional slip-up, whether through accident or human error, but when it happens, every employee will go out of their way to make amends and ensure that the customer suffers as little cost and inconvenience as possible. Steps will also be taken to assure that particular mishap will not be repeated.

( D) THE COMMUNITY. The community will become your advertising agents. You will be recommended to the friends and neighbours, relatives and co-workers of your regular customers. Your reputation for high ethical standards, honesty, and good service will draw an ever-increasing number of new clients . Your greatest problem will be finding time and room to expand.

(E) YOUR COMPETITORS. They will notice their customer base dwindling, and realize they either have to adopt improved professional practices or look around for another location outside the sphere of influence of your company and its satisfied and loyal customers.

The link between business ethics and profitability is undeniable. Smart business owners know this. They repay their staff and customers by being honest, trustworthy, conscientious, and by sharing some of the benefits and profits they accumulate through others’ effort and loyalty .

RSS

© 2019   Created by + M.Tariq Malik.   Powered by

Promote Us  |  Report an Issue  |  Privacy Policy  |  Terms of Service

.