Better Business Bureau System Analysis

The popularity of different social media platform like Facebook, MySpace, twitter, LinkedIn, group me etc. has forced many companies to create new policies about social media. With the increasing use of social media policies in both the business and the personal lives, it is very important to set suitable strategies policies of social media. Therefore, I reviewed and critically analysis some of the boundaries on social media policy of a company called Best Buy. Let’s take a look at Bes Buy, which is the biggest multinational consumer electronics corporation in America.

The Federal Trade Commission(FTC) was created in 1914. It was created to ensure that there were no businesses that were anticompetitive; meaning that there wasn’t one company or business that was creating a monopoly. The FTC has three main goals; they are to protect consumers, maintain competition, and advance performance. They protect the consumers by preventing fraud and making sure businesses are fair in the marketplace. They maintain competition by preventing companies from merging together and creating a monopoly. Finally, they advance performance by advancing the FTC’s performance through organizational, personal, and management excellence. The FTC is very beneficial, and although not everybody knows about it, as a consumer it helps with the economy of every American. Throughout the years since it was created, there has been more laws added that help keep businesses

A countless number of businesses are learning that through social networking they can resolve problematic matters of their complete staff reasonably instead of choosing to trust in a particular panel or faction. To help improve sales businesses like Lowes are using social networking. For example they chose a worker in the internal networking site display a demonstration operating a product that is not selling rapidly. Many others have since tailored their company to use this method and have outcomes of over one million dollars of extra income (Afshar).

“Instead, prior research claims to show that younger, nonminority consumers with relatively high incomes and educational levels are more likely to take advantage of services from third-party agencies, like the BBB” (Garret & Toumanoff, 2010, p. 3). Therefore, the organization created, Council of the BBB (CBBB), changed point system to eliminate points awarded for accreditation, streamlined its processes for receiving complaints, implemented additional procedures for investigating complaints, begun a thorough investigation into its Los Angeles bureau, agreed to review its processes into accrediting businesses, and instituted a procedure requiring an independent third party to help in the review process. Hopefully, these changes will give this organization the ability to regain its reputation with consumers. Since this organization is mainly funded by businesses and accredited membership, one should be confused as to whether these standards will be adhered to by BBB

The Consumer Financial Protection Bureau (“CFPB”) is tasked with writing and enforcing rules for financial entities to protect consumers from unfair, deceptive or otherwise harmful practices by such entities. A major area of focus for the CFPB is a robust and effective oversight of a financial institution’s third-party providers (vendors) to ensure consumers are not exposed to unnecessary risk of financial or personal harm.

The Federal Trade Commission (FTC) was created in 1914 primarily as a way for the government to “trust bust” or apply regulations ensuring a free marketplace for U.S. consumers and business enterprises. In this regard, the FTC enforces antitrust viola- tions that could hamper consumer interests, as well as federal consumer protection laws against fraud, deception, and unfair business practices. The commission’s primary enforcement mechanism is the Bureau of Consumer Protection, which is divided into seven divisions: (1) enforcement, (2) advertising practices, (3) financial practices, (4) marketing practices, (5) planning and information, (6) consumer and business educa- tion programs, and (7) privacy and identity protection.21 As the federal

What The CPFB Rule Does: The terms of the CPFB's proposed rule has two parts. First and foremost, it restores Americans' rights to come together and hold big banks accountable for unethical or predatory practices. It also introduces a new degree of transparency into the arbitration process. In fact,

Better Business Bureau – a system of nongovernmental, independent, local regulatory agencies supported by local businesses that helps settle problems between customers and specific business firms.

The Better Business Bureau (BBB) is a well known self-regulatory trade association in the United States. Companies that adhere to self regulation standards meaning the business will exhibit best practices and social responsibility. The BBB creates self regulatory programs for its members and uses the internet, newspaper, and media to inform the public of businesses who have violated self regulatory rules. The BBB's membership dues are around $425. The BBB's purpose is to establish a place of trust between business and consumers, as well as, dispute and complaint resolution services, reliability reports, and arbitration.

Although no laws have been passed, in 2011 the Consumer Financial Protection Bureau(CFPB) was passed. The CFPB regulates the financial services Americans depend on daily to ensure those services work fairly to the advantage of the American people. Its purpose is to also ensure that the federal consumer financial laws are enforced so that consumers may access markets for financial products and so that the markets are fair and competitive. CFPB aims to make markets safe, very accessible and help customers avoid people who abuse their powers(The

If you aren't in business, you may have no idea what the BBB is, but if you are, it is either something you love or are terrified of. The better business bureau is an organization that analyzes just about every single business that is in operation, regardless of how big or small they are. This gives other people an understanding of how reputable you are and whether or not they want to do business with you, which is why your score is incredibly important, despite whether you like the bureau or not. If you have shady business practices, engage in any sort of illegal activity that gets reported, or flat out do not do good business, your BBB score is going to suffer and anyone that wants to find that information is going to be able to find it. When business deals are made between several companies, the first thing they are going to do is look up their BBB score to size them up. A lot of places won't even talk to you if you have a low BBB score, which can be a great thing and can be a bad thing at the same time.

In 2002, the U.S. Chamber of Commerce showed CWB is an important outcome variable for organizations since it is estimated to cost organizations billions of dollars each year in lost revenue, theft and fraud (as cited in Kessler et al.,

Facebook is involved in a serious controversy in the United States. And last but not least they are being accused of nothing less than ideologically manipulate the news that serves its users , all this is happening on the campaign trail, so the whole thing takes on an even greater dimension that already itself has.

People are increasingly sharing their lives online through social networking sites with little concern for who may be viewing their information. This has become an issue in current times and is up for debate based on the ethical issues associated with Social Media. People don’t realize joining a social network is like joining a community. As any community in real life, your business has a place in the community but should not invade one’s privacy. Social networking is one of the most popular methods apart from forum marketing that is available to Internet users today. Places like MySpace and Facebook among others have gone from just social interaction spaces to a part time marketing program as

The purpose of this paper is to highlight the role of external auditing in promoting good corporate governance. The role of auditors has been emphasized after the pass of the Sarbanes-Oxley Act as a response to the accounting scandal of Enron. Even though auditors are hired and paid by the company, their role is not to represent or act in favor of the company, but to watch and investigate the company’s financials to protect the public from any material misstatements that can affect their decisions. As part of this role, the auditors assess the level of the company’s adherence to its own code of ethics.