CHAPTER 3 & 4
1. What are the institutional contexts of business and how those components impact global business?
The institutional contexts of a business are administrative contexts Cheap New York Giants Hats , technology context, political context, economic environment, social and cultural context, stakeholder context. The above institutional contexts of a business play a major part in facilitating and constricting business forces on the business when it is working to accomplish its role and mission. Additionally Cheap New York Giants T-Shirts , these forces can maintain the artificial life of an institution or can thwart the survival of an organization.
2. What are the national context of business and how managers take its components into consideration for business decision making?
National context of business refers to the local state-of-the-art environment in which businesses and corporations operate. National context includes the analysis of the business cycles and policies required to run the business locally and ensuring that they realize profits in the same way they would have realized while running in the global contexts. Managers take the components of national context of business into consideration while making decisions by ensuring that they will be able to achieve earnings and remain within the ethical way of running business operations.
3. What are various stages of industrialization and what are their implications on business
The various stages of industrialization according to history are:
i. The early period (1817-1865) 鈥?The period comprises of textiles, cotton gin, shipbuilding and small machines bearing replaceable parts, and first railroads and steam engines.
ii. The middle period (1865-1914) 鈥?People start producing steel, coal Cheap New York Giants Hoodie , oil, cargo ships, railways, and lumber among others in large scale. Additionally, agriculture is mechanized.
iii. The late period (1914-1973) 鈥?The period sees labor becoming organized Customized New York Giants Jersey , assembly line production and an increase in the sophistication of production machines. There are also department stores, aerospace, nuclear power, and modular buildings among others.
Industrialization is welcome for businesses. Industrialization has created more business opportunities which have enabled businesses to expand. In the same way, industrialization has brought about specialization where businesses can decide to concentrate on one line of business while outsourcing the other one. It has also increase vertical business relationships. The above have played to increase and improve ways in which businesses operate.
4. What is corporate social responsibility (CSR) and how it helps corporate ethics and business
Corporate social responsibility Cheap New York Giants Jerseys , shortened as CSR, refers to practices associated with business operations which involve initiatives and activities benefiting the society in which the business operates. A wide business鈥檚 corporate social responsibility (CSR) can comprise of various tactics among which include donating a part of the business鈥檚 proceeds to charity and implementation of 鈥済reener鈥?business operations among others. Other areas of concern are the protection of the environment, the community and civil society, and the employees鈥?wellbeing. Through CSR, businesses can operate their business ethically since it interprets what is good from what is bad. CSR embeds forward-thinking and sustainability into the core of the operations of businesses thus creating shared value for both society and business.
5. What are various kinds of stakeholders and by what mechanism they can impact corporations to make right decisions
A stakeholder is any person interested in a certain business or organization. There are different kinds of stakeholders:
i. Corporate Stakeholders 鈥?These refer to a person or a group of persons whose actions can easily affect the business or who can easily get affected by the actions of the business.
ii. Internal Stakeholders 鈥?These refer to the entities within the operations of the business such as investors Darius Slayton Giants Jersey , managers, employees, and the board of directors.
iii. External Stakeholders 鈥?Refers to the entities outside the business but who care about the business or are affected by the performance of the business such as consumers, suppliers, investors Julian Love Giants Jersey , and regulators.
Stakeholders are significantly important for survival of the corporations. These stakeholders can easily impact corporations to make the right decisions by providing essential resources. Additionally, corporations pay attention to the stakeholders capable of significantly affecting ways in which the corporate runs.
6. How a company that adheres to ethical norms should make decision? What processes they use for ethical decision making?
Companies are required to make decisions from time to time. However, companies which adhere to ethical norms have a way of making decisions or an ethical model when they are making decisions about the running and operations of the business. A company adhering to ethics norms should make decisions by using the applied behavior analysis. Using this analysis, a company can easily observe and comprehensively describe the current state of the way things are running. Applied behavior analysis provides ethical companies with tools of learning through which they will be able to understand what people are saying, doing easily Oshane Ximines Giants Jersey , and under what conditions. Through this process, ethical companies use a systematic, data-driven approach to which they can easily increase or decrease some behaviors according to whether they are ethical or unethical. Such companies should make decisions by understanding that ethics can be used for great good or harm.
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