Business Ethics - Like Nailing Jell-O to the Wall - Free Essay Example

Sample details Pages: 7 Words: 2073 Downloads: 3 Date added: 2017/06/26 Category Business Essay Type Essay any type Did you like this example? Business Ethics Like Nailing Jell-O to the Wall What are ethics? A simple definition for ethics is those standards or morals a person sets for himself or herself regarding what is good and bad and right and wrong. If something is ethical, it does not necessarily mean that it is legal, and vice-versa. This is partially because ethics are subjective à ¢Ã¢â€š ¬Ã¢â‚¬Å" that is, each persons ethics are unique to that individual. Don’t waste time! Our writers will create an original "Business Ethics Like Nailing Jell-O to the Wall" essay for you Create order For example, Sally, who works at Beckers, may give a carton of milk to a young mother with a baby who has no money for food. Though Sally believes this action is ethical, it is not legal. Another employee may not see Sallys action as ethical. Where do ethics come from? The most common factors that form a persons individual ethics are: Family Influences. People tend to develop beliefs about ethics and morals from their parents, brothers, and sisters based on observing their behaviour, and punishment for doing things that the family perceives as unethical. Peer Influences. Classmates and others in a persons social network can shape ethics. Peer pressure, for example, can help determine how much a person is willing to engage in questionable activities like shoplifting, lying, etc. Past Experiences. Often, the consequences of previous behaviour condition a person to feel comfortable with certain ethical standards. For instance, if a sales person lies to a customer to make a sale and then is reprimanded by the manager, he or she would likely perceive lying as undesirable behaviour and unethical. On the other hand, if the person makes the sale, and is rewarded by the manager, lying may become perceived as a desirable and ethical behaviour. Religious Affiliation. Generally, a persons religious affiliation (if one exists), will shape what that person perceives as right and wrong. Situational Factors. People adjust their ethics to suit certain circumstances. For instance, Sally in the example above, would probably have changed her behaviour if the customer had been a well-dressed parent who drove up in a BMW. Business ethics Business managers face ethical dilemmas (ethical questions) almost every day. Ethical dilemmas occur when a manager is faced with two or more conflicting ethical issues, and has to make a choice. Business to Employee. A business has a responsibility to act ethically towards its employees. Most importantly, employers must hire and fire people in ethical ways. Wages and working conditions are a second ethical issue. Businesses must ensure that employees are paid a fair wage, and that working conditions are reasonable. For instance, paying a worker $1 per day is considered unethical. The same could be said of having an employee work in a room filled with toxic fumes that would cause illness. Privacy is the final ethical issue with respect to employees. This includes random drug testing; and listening to employee telephone calls. Employee to Business. Employees have ethical responsibilities towards their employers. Some of importances include taking a part-time job with a competitor; leaking company secrets; wasting company time; and theft from the employer. Business to External Environment. Because businesses exist within a community from which they take resources, some ethicists believe that businesses have ethical responsibilities to the community. This obligation to protect and enhance the society is called Social Responsibility. This also includes responsibilities to the customers from which they earn profits. The main areas of Social Responsibility are: Ecology and environmental quality preventing and cleaning pollution, noise control, recycling, preserving land. Consumerism truth in advertising, warranties, control of harmful products. Community needs helping charities, aid with health care and urban renewal. Governmental relations elimination of bribery of officials and lobbying, following laws. Minorities and disadvantaged persons providing training and opportunities for these groups. Labour relations permitting unions, negotiating fairly, providing fair working conditions and compensation. Arguments Against Business Ethics Ultimately, businesses exist to make a profit for their owners and shareholders. In most cases, ethical behaviour adds expenses to the business, reducing profits. Profits are a good thing à ¢Ã¢â€š ¬Ã¢â‚¬Å" they ensure that people have jobs. The smaller the profits, the fewer income tax dollars are paid, which would hurt government programs. The government takes care of ensuring that businesses do things in an ethical way. No other forms of business ethics are required. Arguments for business ethics Business, like government, is a system that affects not only its managers and employees, but all members of the community. Many business decisions affect the lives of people in important ways. If businesses operate in unethical ways, this can contribute to people getting sick (as a result of pollution or defective products); or consumers could get taken advantage of (through false advertising). The Harvard Business Review suggests that well over three-quarters of businesses are trying to build ethics into their organizations. Many business managers believe that, though more costly in the short run, ethical behaviour is profitable in the long run as customers and government regulators will appreciate it. This will ultimately result in higher profits. Businesses earn huge profits from members of the community à ¢Ã¢â€š ¬Ã¢â‚¬Å" they owe it to the communities to put something back through donating to charities. For example, the major banks earn $2 $3 billion dollars a year each. A small portion of that should go back to the communities from which it came. Ethical Frameworks An ethical framework is a system that a person can use to help make a decision when faced with a moral dilemma. Here, two frameworks will be described: deontology, and utilitarianism. Deontology is the belief that there are some things that a person should do (right), and others a person should not do (wrong). People should do the right things (such as being honest), and refrain from doing the wrong things (such as stealing), regardless of what the consequences are. This can cause problems, if doing the right thing has a negative consequence. For example, if you are honest about the whereabouts of someone being sought by the police and wrongly accused of crime, the consequence is that an innocent person will be arrested. Another problem with deontology is that no clear method exists classify behaviours and actions as absolutely right and absolutely wrong. Deontological arguments are based on adhering to sets of rules. Utilitarianism suggests that you choose the behaviour or action that will result in the greatest good for the greatest number of people. It does not matter if the actual behaviour is right or wrong, the result is key. Utilitarian arguments are based on meeting a specific goal, and not on following rules. Discussion Questions Some business ethicists argue that acting ethical in order to increase profits in the long run is unethical à ¢Ã¢â€š ¬Ã¢â‚¬Å" that businesses should be ethical because they want to contribute to the community. How do you feel about that statement? Why do you think the title of this article is Business Ethics Like Nailing Jell-O to a Wall? Do you agree that the government should regulate aspects of a business to ensure they operate ethically? If so, what sorts of things should be regulated? No corporation is truly ethical unless it has banished all forms of external motivation for employees. What do you think this statement means? Reconsider the story discussed earlier about Sally the convenience store owner who gave a carton of milk to the poor mother. What would a deontologist say about Sallys action? What would a utilitarian say? Do you prefer deontology or utilitarianism? Why? Business Ethics Case Worksheet Name: ____________________________ Case Name: _____________________________ Role: _____________________________ Instructions Two members of your group must choose to play managers, two play ethicists. Each group will receive a case envelope. Everyone in the group must reads the case articles sheets in your envelope. Each person answers the questions on this sheet (to be handed in at the time you present). Your group will have class time to prepare a presentation (maximum 10 minutes long). The instructions are shown below. Make sure that you read your peer evaluation sheet so you know what is expected of you. The presentation should include: An introduction in which the background of the case is described to the class. A role play in which all members of the group participate, and argue their sides using an ethical framework. A conclusion, where you reflect upon the role play, and discuss the ethical issues involved and how they could be resolved in real life. Questions: 1. Describe the ethical dilemma you will be faced with. What are the main issues? What facts do you have? 2. Will you use a deontological argument, or a utilitarian argument in your presentation? Why? 3. Describe what information you plan to communicate in your argument to the other side. 4. How do you think the other side will respond to your argument? 5. With your group, write up an outline to describe your role play. Explain which members will be doing the introduction, which will be doing the conclusion, and what information you plan to communicate. Business Ethics Self Reflection Worksheet Your Name: ____________________________ Case Name: _____________________________ Members of your group: ___________________________________________________________ To be completed after you have presented your role play. Think about the level of effort each member put forth toward your presentation. You have 10 marks to divide up among your group. If you feel all members put in equal amounts of effort, allocate 2.5 marks to each of the four members. If you give all 10 marks to one person, everyone else would have 0. Name Mark/10 Total 10 In the space below, write a personal reflection on this activity. In it, describe your personal feelings about the case and related issues that you presented. Comment on how effectively you feel you argued your part, and what you would do differently if you were to repeat the exercise. Business Ethics Peer Evaluation Sheet Your Name: ____________________________ Case Name: _____________________________ Names of presenters: _____________________________________________________________ Item Consider These Things Mark (circle one) Clarity of Presentation Appropriateness of language Preparedness of group All members participated 12345 Role Play Clear introduction Good interaction among members Realistic positions 12345 Arguments Sound, realistic, and clear arguments made Use of ethical frameworks (deontology, utilitarianism) 12345 Conclusion Conclusion made sense given the case Reasonable possibilities for solutions offered 12345 Group Mark Add up all the numbers you circled to determine the mark. /20 Business Ethics Peer Evaluation Sheet Your Name: ____________________________ Case Name: _____________________________ Names of presenters: _____________________________________________________________ Item Consider These Things Mark (circle one) Clarity of Presentation Appropriateness of language Preparedness of group All members participated 12345 Role Play Clear introduction Good interaction among members Realistic positions 12345 Arguments Sound, realistic, and clear arguments made Use of ethical frameworks (deontology, utilitarianism) 12345 Conclusion Conclusion made sense given the case Reasonable possibilities for solutions offered 12345 Group Mark Add up all the numbers you circled to determine the mark. /20 Business Ethics Lesson Plan and Teacher Instructions Objectives By the end of the activity, students will: Knowledge: understand and define the concept of business ethics identify current ethical issues in business Skills apply various ethical frameworks in order to solve ethical dilemmas create and perform a role play that demonstrates an understanding of ethics and of contemporary ethic issues that relate to business Attitudes: appreciate societal and personal needs for business ethics in modern commerce Materials Needed One copy of Business Ethics à ¢Ã¢â€š ¬Ã¢â‚¬Å" Like Nailing Jello to the Wall per person. Six Business Ethics case envelopes each containing: 4 copies of a common case study; 2 copies each of confidential notes for managers and confidential notes for ethicists. Each envelope contains a separate topic: Employee Monitoring Harmful Product #1 (Milk and Agricultural Hormones) Harmful Product #2 (Tobacco in Developing Countries) Child Labour Customer Privacy Kids and Classrooms. One Case Worksheet per person. One Self-Reflection Worksheet per person. Five Peer Evaluation Sheets per person. Development Strategy First Class: Distribute Business Ethics à ¢Ã¢â€š ¬Ã¢â‚¬Å" Like Nailing Jello to the Wall. Go through key concepts with students. The delivery should be informal, and students should have the opportunity to contribute, creating a discussion atmosphere. Students will respond to the discussion questions in class. The teacher will explain the forthcoming assignment to students, and form groups. The packages will be distributed to students; they are expected to complete the required reading for homework. Second Class: Students will have time to work on formulating their role plays within their groups. The teacher will be present to assist with difficulties, and ensure students critically evaluate their positions. Third Class: Students will present their role plays. Specific instructions and expectations appear on the attached student handouts. Peer evaluation will take place. Students will complete the Self-Reflection Worksheet as homework. Business Ethics Harmful Product #2 L. Pinto, Teaching Business Ethics

Classification Definition With Examples

In rhetoric and composition, classification is a method of paragraph or essay development in which a writer arranges people, objects, or ideas with shared characteristics into classes or groups. A classification essay often includes examples and other supporting details that are organized according to types, kinds, segments, categories, or parts of a whole. Observations on Classification The primary support in classification consists of the categories that serve the purpose of the classification...The categories in classification are the piles into which the writer sorts a topic (the items to be classified). These categories will become the topic sentences for the body paragraphs of the essay...The supporting details in classification are examples or explanations of what is in each category. The examples in classification are the various items that fall within each category. These are important because readers may not be familiar with your categories.—From Real Essays With Readings by Susan Anker Using Classification in an Introductory Paragraph Americans can be divided into three groups—smokers, nonsmokers and that expanding pack of us who have quit. Those who have never smoked dont know what theyre missing, but former smokers, ex-smokers, reformed smokers can never forget. We are veterans of a personal war, linked by that watershed experience of ceasing to smoke and by the temptation to have just one more cigarette. For almost all of us ex-smokers, smoking continues to play an important role in our lives. And now that it is being restricted in restaurants around the country and will be banned in almost all indoor public places in New York State starting next month, it is vital that everyone understand the different emotional states cessation of smoking can cause. I have observed four of them; and in the interest of science I have classified them as those of the zealot, the evangelist, the elect and the serene. Each day, each category gains new recruits.—From Confessions of an Ex-Smoker by Franklin Zimring Using Classification to Establish Place Each of Jamaicas four great gardens, although established along similar principles, has acquired its own distinctive aura. Hope Gardens, in the heart of Kingston, evokes postcard pictures from the 1950s of public parks, gracious and vaguely suburban and filled with familiar favorites—lantana and marigolds—as well as exotics. Bath has retained its Old World character; it is the easiest to conjure as it must have looked in Blighs time. Cinchona of the clouds is otherworldly. And Castleton, the garden established to replace Bath, fleetingly evokes that golden age of Jamaican tourism, when visitors arrived in their own yachts—the era of Ian Fleming and Noel Coward, before commercial air travel unloaded ordinary mortals all over the island.—From Captain Blighs Cursed Breadfruit by Caroline Alexander Using Classification to Establish Character: Example 1 Local TV interviewers come in two varieties. One is a bulimic blond person with a deviated septum and a severe cognitive disorder who went into broadcasting because he or she was too emotionally disturbed for telephone sales work. The other variety is suave, sagacious, grossly overqualified for the job, and too depressed to talk to you. Good local TV people are always depressed because their field is so crowded.—From Book Tour by P.J. ORourke Using Classification to Establish Character: Example 2 The English-speaking world may be divided into (1) those who neither know nor care what a split infinitive is; (2) those who do not know, but care very much; (3) those who know and condemn; (4) those who know and approve; (5) those who know and distinguish.—From A Dictionary of Modern Usage by H.W. Fowler and Ernest Gowers Famous Classification Paragraphs and Essays for Study Conversation by Samuel JohnsonHere is New York by E.B. WhiteGive Her a Pattern by D.H. LawrenceThe Man Who Interrupts by Bill NyeOf Studies by Francis BaconOn Various Kinds of Thinking by James Harvey RobinsonThe Pleasure of Quarreling by H.G. WellsShaking Hands by Edward Everett Sources Anker, Susan. Real Essays With Readings, Third Edition. Bedford/St. Martins. 2009Zimring, Franklin. Confessions of an Ex-Smoker. Newsweek. April 20, 1987Alexander, Caroline. Captain Blighs Cursed Breadfruit. The Smithsonian. September 2009ORourke, P.J. Book Tour, in Age and Guile, Beat Youth, Innocence, and a Bad Haircut. Atlantic Monthly Press. 1995Fowler, H.W.; Gowers, Ernest. A Dictionary of Modern English Usage, Second Edition. Oxford University Press. 1965

Analysis Of Oedipus The King - 1250 Words

Jason Balut Professor Williams English 102, W09 7 June 2015 Oedipus the King Oedipus is a complex character who possesses attributes that many of us can identify with. He is an intelligent, prideful, arrogant man with a relentless, stubborn determination to find the truth. It is this arrogance and stubborn determination that ultimately leads to his demise. Oedipus’ intellect is evident even before the play begins. He became king of Thebes by solving the riddle of the Sphinx. The Sphinx stopped people on the road to Thebes and posed them a riddle. If they answered incorrectly, they died. The riddle posed by the Sphinx was â€Å"What goes on four feet in the morning, two feet at noon, and three feet in the evening?† Oedipus correctly answered that it was man, who crawls on four feet in the morning, walks on two feet as an adult in the afternoon and, in the evening of his life when he is old, walks with a cane on three feet. The Sphinx was so upset that Oedipus answered correctly that she killed herself (Kennedy, Gioia 1206). Oedipus’ pride and arrogance are obvious from the very beginning of the play when he says â€Å"I, Oedipus, who bear the famous name (Oedipus Prologue. Lines 5-10).† It’s easy to understand why he possesses these traits. After all, he did solve the riddle of the Sphinx and now the residents of Thebes worshiped him and looked to him to save their city. It’s easy for any of us to allow that kind of power to go to our head. When people constantly tellShow MoreRelatedAnalysis Of Oedipus The King 1127 Words   |  5 Pages For A Life Of Regrets Oedipus the King is a play written by Sophocles. Oedipus is the main figure and legend of Sophocles play. After Oedipus birth into the world, his father King Laius of Thebes heard from a prophet that his own child was destined to kill him. Sophocles play begins from past to present and starts to unravel the journeys Oedipus goes through. Oedipus isn t an evil character as one would think while reading the story. He neverRead MoreAnalysis Of Oedipus Oedipus The King 1152 Words   |  5 Pagesreading Oedipus the King. The number of times the words â€Å"see† or â€Å"blind† are in the play make it make it undeniably obvious that they are significant. The theme is developed throughout the dialogue, through characters such as Tiresias and Oedipus, and also directly in the irony of the play. It is important in a play about the truth because almost every character was â€Å"blind† to the truth. All of the characters, except one, can physically see, bu t mentally cannot see the truth. Oedipus seems toRead MoreCritical Analysis Of Oedipus The King1025 Words   |  5 PagesCritical Analysis: Oedipus the King Oedipus the King is a tragic play showing a shift from the belief of fate to freedom of choice. Therefore, Oedipus the king is a great example of those who run from fate ends up fulfilling their fate After reading this type of tragic play â€Å"Oedipus the King† written by Sophocles you can see that the author did a very outstanding form of presenting a tragedy that has the characteristics of mimesis and a tragic hero. Specifically, the writer written the playRead MoreOedipus the King Character Analysis1321 Words   |  6 PagesLancaster ENG230 11/25/2010 Oedipus the King Character Analysis Oedipus the King had accomplished many great things during his reign of Thebes and in his life time. Oedipus found out during his reign in Thebes that the Gods who loved him also knew his devastating fate. As a young man when Oedipus answered the riddle the Sphinx he soon found his self having everything want and need. He earned his spot as the new King of Thebes, he had a great wife and lovely set of childrenRead MoreAnalysis Essay: Oedipus the King1017 Words   |  4 Pages Casual Analysis Essay: Oedipus the King Sophocles play Oedipus the King has endured for over two thousand years. The plays lasting appeal may be attributed to the fact it encompasses all the classical elements of tragedy as put forth by Aristotle in Poetics nearly a century before it was written. According to Aristotle, tragedy needs to be an imitation of life according to the law of probability or necessity. Tragedy is serious, complete, and has magnitude. It must have a beginning, middleRead MoreOedipus The King Character Analysis1429 Words   |  6 Pages Mrs. Long-Goldberg Honors World Lit/Comp 26 September, 2017 Ignorance Can Lead to Great Agony Plays were of great importance in early Greek culture. Plays were the main source of entertainment, and one of the most prominent examples is Oedipus the King written by Sophocles. The drama is uplifted by the character development and excellent structure Sophocles has put forward. Interactions between characters and each character’s motivations generate brilliant themes throughout the play. SophoclesRead MoreCharacter Analysis Of Oedipus The King1419 Words   |  6 PagesAdhikari Mrs. Long-Goldberg Honors World Lit/Comp 26 September, 2017 Ignorance Can Lead to Great Agony Plays were of great importance in early Greek culture. Plays were the main source of entertainment, and one of the most prominent examples is Oedipus the King written by Sophocles. The drama is uplifted by the character development and excellent structure Sophocles has put forward. Interactions between characters and each character’s motivations generate brilliant themes throughout the play. SophoclesRead MoreOedipus The King Analysis1357 Words   |  6 PagesThe Greek play, Oedipus the King, shows how easy it is for a man to fall apart, while trying to make things right. Sophocles’ tragedy tells the story of Oedipus, a regular man turned king of Thebes. Throughout the tragedy, Oedipus searches for the cause of the chaos and havoc encompassing his land; however, he discovers that he is the one responsible for the hardships plaguing Thebes. As the tragedy continues, Sophocles’ exposes a dark side to power, fame, and ambition. Further, Sophocles’ expose sRead MoreAnalysis Of Oedipus The King 1696 Words   |  7 PagesDaKan Wei Professor Annjeanette Wiese HUMN 1110 1 October 2014 Fatalism in Oedipus the King Tragedy has always been considered the highest form of literature; Oedipus the King is written by Sophocles who is one of the three ancient Greek tragedians, it fully represents the enduring charm of the ancient Greek tragedy, leaving the reader endless thinking. Through Oedipus’ misfortune, Sophocles tries to reveal the cause of their tragedy is ubiquitous and ever-present fate,Read MoreAnalysis Of Oedipus The King1145 Words   |  5 PagesOedipus goes against the Chorus as he strongly defends himself as the people intensify his incrimination of killing the old king. Oedipus could not believe in his wildest dreams that he murdered his own father and was the husband of his mother. As an adopted runaway boy and a newfound king, he had to dig deep in his past to ease his burden. The Chorus’ incrimination of the King has brought the town into a downward spiral due to finding the real truth of the blind prophet. The relevance of Oedipus’

Ethics in CSR-Free-Samples for Students-Myassignementhelp.com

Questions: 1.Are there any links or references to GRI and UN Global Compact (UNGC)? Briefly outline these references. What implication and impacts does that have on the sustainability of PUMA? 2.Using the GRI table, identify the social and environmental issues disclosed for PUMA that could be improved on. Which ones suggested by the GRI are not identified? Answers: 1.Links between GRI and UN Global Compact (UNGC) There are indeed certain links between the GRI and the UN Global Compact (UNGC). The companies who participate in the Global Compact commit themselves to some of the universal principles that have to be abided by mandatorily. These areas are human rights, labor, social environment and anti-corruption. The Global Compact has made some particular levels of commitment levels in their COPs. They have some minimum GC Active level in which the Chief Executive of the particular company has to make sure about how they have been committed in commitment to the facts that have been mentioned in the GRI (Fernandez-Feijoo, Romero and Ruiz 2014). The companies must include the ten principles that are important for securing the Strategies and Operations of the company in those chosen areas. The companies must have to take action in the cases where the rules are breached and they have to strict so that they can be supportive towards the broader objectives taken up by the United Nations. In this way the corporate governance and leadership will be feeling an impact with its sustainability (Benn, Dunphy and Griffiths 2014). A company like Puma will have deep implications because of this Global Compact. They have to maintain those guidelines for achieving the sustainability (About.puma.com 2017) The core values they focus on are the social, economical and environmental developments. They will be looking forward to serve the society more with their charity works which they think is part of their Corporate Social Responsibility (Schneider and Schmidpeter 2012). The sustainability strategy they follow is based on more than 20 years of Code of Conduct policies. 2.Social and Environmental issues in Puma Puma has been focusing on various social and environmental issues and the social issues according to the GRI table contain the materials, energy, water, biodiversity, emission, effluents and waste, products and services, compliance, transport and environmental assessment. These factors are characterized by G4-DMA, G4-EN2, G4-EN3, G4-EN5, G4-EN6, G4-EN7, G4-EN11, G4-EN12 and many others. Their main aspect of industrial experience belongs to the products and services which is characterized by G4-DMA and G4-EN27 that tells about Extent of impact mitigation of environmental impacts of products and services (Fernandez-Feijoo, Romero and Ruiz 2014) The social factors that are described in GRI table are employment, occupational health and safety, training and education, diversity and equal opportunity, supplier assessment for labor practices and labor practices grievance mechanisms. These factors are characterized by G4-DMA, G4-LA1, G-4 LA6, G4-LA9, G4-LA10, G4-LA11 and many others. Puma ha ve abided by the guidelines that they should not engage any child labor in their production process, they have assured the freedom of association and collective bargaining, security practices, proper investment on the products and non-discrimination between their employees (Benn, Dunphy and Griffiths 2014). Puma could be improving on various factors like biodiversity of their products, they have opined that their environmental sustainability is based on the Precautionary Principle (About.puma.com 2017). They focus on preventing their customers, employees and entire society from any harm so that they can maintain the international health and safety standards. They have also enforced upon being a corporate citizen and they look to contribute to the society in positive. Still they have to look to improve on the facts of antic-corruption policies and transport problems of delivering their goods (Schneider and Schmidpeter 2012). References About.puma.com. (2017). PUMA This is Puma. [online] Available at: https://about.puma.com/en/this-is-puma [Accessed 15 Jun. 2017]. Benn, S., Dunphy, D. and Griffiths, A., 2014.Organizational change for corporate sustainability. Routledge. Fernandez-Feijoo, B., Romero, S. and Ruiz, S., 2014. Effect of stakeholders pressure on transparency of sustainability reports within the GRI framework.Journal of Business Ethics,122(1), pp.53-63. Schneider, A. and Schmidpeter, R., 2012. Corporate social responsibility.Verantwortliche Unternehmensfhrung in der Praxis, Berlin ua.

Ikea Report free essay sample

Key Company Facts Inter IKEA Systems BV| Headquarters| Netherlands| Regional Involvement| Asia Pacific, Australasia, Eastern Europe, Middle East and Africa, North America, Western Europe| Sector Involvement| Home and garden specialist retailers, home shopping, internet retailing| World retailing share (2007-2008)| 0. 3% (2008)0. 3% (2007)| Value sales growth (2007-2008)| 16. 9% (2008)20. 7% (2007)| Increasing global share Ikea generated revenue of EUR22. billion (US$35 billion) in the year ended August 2008. This makes it by far the largest player in the furniture and furnishings stores channel, with second-placed, Bed Bath Beyond Inc registering revenue of just over US$7 billion in the year ended February 2009. Ikea’s broad geographic reach, rapid store network expansion and market positioning meant that its sales grew significantly faster than most of its main rivals. Bed Bath Beyond’s reliance on the US led to revenue growth of only 2% in the year to February 2009. For tax avoidance reasons, privately-owned Ikea is controlled by INGKA Holding, itself owned by the non-profit INGKA Foundation, and a franchising relationship exists between INGKA Holding and Inter IKEA Systems BV. We will write a custom essay sample on Ikea Report or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page In the financial year to August 2004, the last year when it released results, INGKA Holding recorded profits of EUR1. 4 billion, corresponding to a robust 11% margin. Defying economic crisis Despite the fact that the global downturn in discretionary consumer spending and declining house prices in several markets have had a marked negative impact on the performance of many home and garden specialist retailers, Ikea saw revenue grow by 9% in the year ended August 2008. The compatibility of Ikea’s value-orientated business model with prevailing market conditions enabled the company to increase its share of world furniture and furnishings stores value sales by 0. and 0. 4 percentage points in 2007 and 2008 respectively. SWOT ANALYSIS FOR IKEA Strengths * Strong brand image Ikea has developed a strong brand image combining a distinctive style and affordability. Hence, it has a broad and loyal consumer base. * Broad geographic reach Developed a wide-ranging geographic reach which enabling significant growth potential of emerging markets. Weaknesses * Queuing systems Customers often spend hours to pay at the checkouts. It is caused of insufficient stores available. * Cost Delivery cost and time waiting to receive the items that have been purchased. Opportunities * Dynamism in emerging markets Planning to expand the markets to different countries by opening more stores and focusing on cheaper and beneficial prices. * E retailing It could introduce internet buying which would offer service for those customers who prefer to shop online. Threats * Difficult economic conditions The business is still being threatened by low spending power, waning consumer confidence and poorly performing housing markets. * Increasing competition from non-specialists The efforts of major grocery retailers to expand their furniture and furnishings offer are further enhanced by the development of internet retailing and also lower prices offered by the competitors. References Kotler P, Wong V, Saunders J and Armstrong G (2005) Principles of Marketing 4th edition, Harlow; Pearson Education Limited. IKEA 2005 – home page (internet) WWW. IKEA. COM Key Strategic Objectives and Challenges Competitive Pricing Low prices are central to Ikea’s strategy, enabling it to reach a very broad consumer base and to remain robust in the face of extremely challenging economic conditions, even attracting new consumers who may previously have been put off by its mass-market image. However, rising raw material and transport costs forced the company to raise prices in 2009, stating that this was the first price hike in five years. Moreover, the differentiation conferred by Ikea’s pricing strategy is undermined by similar approaches from direct rivals and low-price retailers such as Wal-Mart, Carrefour and Tesco venturing into furniture and furnishings New market entries Ikea aims to accelerate the pace of its expansion into new markets. In the 10 years to the end of 2008, the company entered only two new markets –Japan and Portugal –a significantly lower rate of expansion than during its early history. However, Ikea has stated its intention of entering seven or eight new markets over the next decade. 90% will be in emerging markets, with India and Mexico amongst the markets under consideration. Thus, the company hopes to tap into the expansion of the urban middle class and counter maturity and increasing competition in developed markets. Slowing down store expansion While Ikea intends to speed up expansion into new markets, it is responding to the impact of the unfavourable economic environment in developed markets by slowing down its overall store expansion. In 2007, Ikea opened 22 stores, with 20 more being added in 2008. However, from 2010, the company intends to open only 10-15 stores a year, down from a planned 20-25 stores a year. Moreover, while Ikea intends to increase its staff numbers from the current 130,000, it does not rule out eventual job cuts as it seeks to adapt to a harsh economic climate. Expansion in Eastern Europe With Ikea increasingly looking to emerging markets to generate growth beyond mature developed markets suffering from severe economic difficulties, Eastern Europe is becoming an increasingly important focus for the company’s development strategy. With plans to open stores in all major cities in the country, Ikea foresees Russia becoming its largest world market. It is also investing heavily in Poland, and entering or considering entering several new markets in the region, including Croatia, Serbia, Slovenia and Ukraine. SOURCE :  © Euromonitor International Ethical Development Strengthens Brand Distinctiveness Sustainable values With rivals imitating Ikea’s pricing strategy and product design, and the expansion of major grocery retailers into furniture and furnishings sales, the company is having to work increasingly hard to maintain the distinctiveness of its brand. Ongoing creative marketing activity maintains a buzz around the brand, and is particularly helpful in raising awareness of new store openings. However, the company is also seeking to develop a more sustainable image bringing additional resonance with consumers, associating the brand with deeper values in the context of a growing consumer concern with ethical issues. Distinct advantages While many retailers are seeking to generate an image of corporate responsibility related to social and environmental issues, Ikea’s established high levels of consumer trust and the association of its Scandinavian heritage with progressive and environmentally-aware values, place it in an unusually strong position to build a positive ethical and transparent image. Thus, while the efforts of retailers such as Wal-Mart to develop a socially and environmentally-responsible image are often attempts to turn around negative consumer perceptions, Ikea once again has the opportunity to build on established strengths instead. Furthermore, it has the advantage of a loyal consumer base which is willing to view its social and environmental plans in a generous light and thereby strengthen its association with the brand. For example, the Ikea Social Initiative is an organisation which sponsors medical treatment, and educational and environmental projects on a national and international level, including a programme to introduce cancer treatment training to doctors in Vietnam. Environmental focus Ikea is particularly focused on the environment, an area in which it appears to go some way further than competitors such as Wal-Mart and Home Depot. The company’s eco-friendly activity extends from no longer offering disposable plastic bags in its stores to investing US$75 million in new green technology in five areas -solar technology, energy conservation, water saving products, alternative lighting and new product materials –through its Green tech subsidiary. Ikea also recycles 84% of the waste generated in its stores, while 71% of all Ikea products are recyclable, made from recycled products, or both. In addition, the company aims to have 100% renewable energy sourcing for its stores. Moreover, when forced to adapt to stricter environmental legislation in particular markets –as when Japan restricted formaldehyde emissions to close to zero –Ikea extended the restrictions to its global operations. KEY RECOMMENDATIONS Develop internet retailing presence Increased access to the internet, the rising popularity of mobile internet devices, greater transaction security and convenience and price-consciousness are all driving strong growth in internet retailing in the majority of Ikea’score markets. â€Å"Click and brick† operators with established store-based brands, such as Tesco and Wal-Mart, are expanding strongly in the channel. Ikea’sstrong brand and established distribution infrastructure position it well to develop its own internet retailing presence. Continue expansion in emerging markets Despite its geographic expansion, Ikea’ssales remain heavily biased towards Western Europe and North America, which jointly accounted for 87% of company sales in 2008. With these markets subject to maturity and increasing competition, as well as severe economic problems, the company should make good its commitment to increase its focus on emerging markets. It should focus on targeting the growing urban middle class in these markets, continuing to move beyond first-tier cities in existing markets such as Russia and China, and entering new ones, such as Ukraine and India. Stay receptive to opportunities of economic climate Ikea’sallegedly strong financial base and its low-priced strategy mean that it is well adapted to survive in the current testing economic environment. The company should look beyond mere survival, however, at the opportunities thrown up by these conditions. Ikeashould target consumers who may previously have considered it too downmarket. It should also court the customers of failed rivals, such as MFI in the UK. The failure of rivals and the condition of the real estate market in several key countries also offer opportunities to acquire cut-priced store sites. Tapping into such potential will leave Ikeaa stronger company as economic conditions improve. Focus on ethical image With the distinctiveness of its offer being undermined by rivals’ imitative strategies and the aggressive pricing of major grocery retailers expanding into its key product areas, Ikeaneeds to concentrate on maintaining its brand differentiation. The company should look to build on its high levels of consumer trust and the positive associations of its Scandinavian heritage by developing its corporate image in line with growing consumer concerns with ethical issues. It should continue, for example, to develop environmental practices ahead of legislative demands, and invest in eco-friendly product development. SOURCE :  © Euromonitor International lovelynisha6 Passwordtribuneshipevase

How to make a non-alcoholic cocktail essayEssay Writing Service

How to make a non-alcoholic cocktail essayEssay Writing Service How to make a non-alcoholic cocktail essay How to make a non-alcoholic cocktail essayIt is not a secret that cocktails are very popular today. According to researchers, â€Å"people have been mixing drinks for hundreds of years† (Page 6). If you are going to organize a party, you should find the most suitable recipes of cocktails to impress your guests. Today there are many young people who take care of their health. They do not smoke and ignore alcoholic drinks. Experts suggest that â€Å"non-alcoholic cocktails are exciting, attractive and safe† (Biggs 116). You should make the best non-alcoholic cocktail in order to satisfy your non-drinking guests. There are millions of recipes of non-alcoholic cocktails. Actually, it is not an easy task to find the best recipe among millions, but you are to do it! Some of the most popular cocktails are rather easy to make. Among the most popular and highly recognized cocktails are the Screwdriver, the Tom Collins, the Blood Mary, the Harvey Wallbanger, which contain only 2- 4 ingredients! Although these cocktails are rather easy to make, they â€Å"have been around for years and are still enjoyed immensely today† (Page 6). You can use similar ingredients, but without alcohol. Let’s discuss the process of making a premium class non-alcoholic cocktail.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Making non-alcoholic cocktails is a rather simple task. You need special equipment that will facilitate the process of making a cocktail. To start with, you need a cocktail shaker. Today there are two types of cocktail shakers available on the market: the European cocktail shaker and American cocktail shaker. The former is made of metal or glass, with a metal top and lid, while the latter consists of two cones of the same size. Both types are appropriate for premium quality cocktails. Second, you need a glass jigger to measure your spirits.   Finally, you need a muddler in order to bash up leaves, ice and other ingredients. You may also use ice cr usher and electric blender.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Now, it’s high time to make a cocktail. The Virgin Mary cocktail is the best choice! The original name of this cocktail is the Bloody Mary. However, we’ll take the non-alcoholic version.   Experts suggest that â€Å"this drink is full of spice and perfectly served with breakfast or lunch† (ODochartaigh). You need the following ingredients:3 ounces Tomato Juice ½ ounce Lemon Juice ½ teaspoon Worcestershire Sauce2-3 drops Tabasco SauceLime, Lemon or Pickle SliceThe process of making the Virgin Mary cocktail is very easy to remember. You should take a tall glass and combine tomato juice, lemon juice, Worcestershire sauce and Tabasco sauce, mixing all ingredients well. Do not forget to use special equipment that will facilitate the process of making the cocktail. You should serve cocktails in the right glass. Use fancy umbrellas and straws to impress your guests! You may serve the Virgin M ary cocktail chilled with ice. Do not forget to garnish the cocktail with lemon, lime or pickle slice.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Thus, non-alcoholic cocktails are tasty and easy to make. According to experts, â€Å"by eliminating the cost of alcohol, these cocktails become a perfect drink appropriate for anyone at any age and can be served any time of the day† (ODochartaigh). You may use your imagination to create new recipes of non-alcoholic cocktails.

Strategic audit Case Study Example | Topics and Well Written Essays - 1750 words

Strategic audit - Case Study Example The primary objective of the company had been to make a holistic improvement and incorporate everybody in this innovative drive. The company nurtured a corporate objective to occupy the leadership position in the home improvement retail global market. The business strategy aimed to diversify the business and to open new stores whereas the functional strategy attempted to provide better service. However the management failed to achieve the objective within the allotted timeframe. In 2006, the company framed a new strategy that was comprised of 3E’s; â€Å"enhancing the core† by improving the quality of products and services offered, â€Å"expanding the business† by entering different business operations and â€Å"expanding the market† by opening new stores in US as well as in the international market. None of these strategies were consistent with the mission, strategy and objective that were adopted by the company. This led to the non alignment of the internal as well as external environment. The company then adopted a policy that would improve store productivity, increase acquisitions and mergers, diversify the product and services offered to the clients, and open new stores. In reality, the company failed to implement its policies in all the occasions because they were not aligned with the mission, strategy and objectives. At present, the company has planned its mission, objectives, strategy and policies to achieve higher growth in the services provided by it. However the direct-to-consumer section contributes very little in the revenue portfolio of sales. The current policy is to open stores in 1500 locations. But the market in US is already saturated and the company managed to open only a few stores in the last 5 years. As on May 25, 2006, the company had 11 people in the board out of which 9 were independent. Hence majority of the board members were from external sources (as they belonged