Questions on Management, Business, and Finance

1. What is the purpose of financial statement analysis? The purpose of financial statement analysis is to provide information used by the business, potential creditors and investors.

Business Ethics are defined as “moral principles that guide the way a business behaves” (Businesscasestudies, 2017). In order for any business or individual to act in an ethical

1. Discuss the nature of stock as an investment. Do most stockholders play large roles in the management of the firms in which they invest? Why or Why not?

Using at least two (2) of the foundational ethical theories studied in Module 2, you should answer the following questions. With each answer, you should discuss the issues and set forth and defend a clear position on whether or not any constraint ought to be placed on the freedom of a business to:

Frederick W. Taylor believed that the way to improve organizational efficiency included all of the following, except

Under this task I will explain the ethical issues that business needs to consider in its operating activities and how a business they could improve the ethical of their operations and also I will evaluate the influence of stakeholders exert in one company.

Amazingly, productivity rapidly raised in the first 24 hours. The study concluded that for maximum productivity, the best worker had to be chosen to perform that task and had to be provided with training for efficient work. Every worker and his output had to be closely monitored and he had to be rewarded for greater productivity. Taylor also wanted to reduce conflicts between managers and workers by convincing them that they would benefit mutually from a rise in productivity, as this would favour society and the organisation as a whole.

Frederick Taylor was an engineer who ran experiments in the 1880’s on the common manufacturing process of his time. His goal was to increase the productivity of the workers. The experiments measured the time to perform different tasks. He created recommendations for the workplace that became business standards and were enforced in the workplace. Businesses used these as a measure of productivity and rewarded wages and other rewards on a basis of performance. These changes created a shift in the workplace and a demand for higher compliance became the norm. Taylor helped create the need for standards in the workplace.

This will be an over view of ethics as it relates to business in our society. Concepts from Philosophy will seek to describe the correlation between actions that are classified as morally right or ethical in our dealings with each other as human beings. Clear and concise examples will be given as well as ways in which to improve upon business ethics.

This paper introduced Manuel G. Velasquez and his four ethical precepts in business. These four ethical standards are specifically discussed in Chapter 2 of his book, Business Ethics: Concepts and Cases. These four standards or principles are usually used as a guide for people to considerate in making business decisions, which are the utility, rights, the justice and the care. They are described and explained with examples respectively below to indicate basic principles that people should follow as a member of a group when working for a same goal.

The second concept that I enjoyed as part of this coursework was in Chapter 15 on managing business finances. As Head of Global Procurement I am responsible for reviewing accounting statements, like our balance sheet, income statement, and cash flows on a monthly basis. I also have budgetary responsibility for my department, Ebert, R. J., & Griffin, R. W. (2015)

The main purpose of financial accounting is to prepare financial reports that provide information about a firm’s performance to external parties such as investors, creditors, and tax authorities. Must be performed according to GAAP (Generally Accepted Accounting Principles) guidelines.

1 The primary purpose of accounting is to determine whether the business entity is profitable or unprofitable in its operations.

The purpose of an audit is to enhance of confidence in the financial statements. An auditors opinion validates this purpose.

Previously workers would work on their own and strived to improve their skills. The development by Taylor informed staff on what to do and how to do it. The third principle was about cooperation between employers and employees. This principle had two aims one was to achieve productivity through his defined processes and the other was to ensure management and workers worked together.