Presentation IIThis is the second of eight Presentations, designed to provide an overview of the key points of each chapter.Please use these presentations to guide your reading of the chapters, the ongoing completion or your Study Guide, and to review information that will contribute to the course midterm and final.Four Demanding Ethical and Socially Responsible Behavior
OBJECTIVESAfter you have read and studied this chapter, you should be able to:Explain why obeying the law is only the first step in behaving ethically.
Ask the three questions you need to answer when faced with a potentially unethical action.
Describe management’s role in setting ethical standards.
Define corporate social responsibility and compare corporation’s responsibilities to various stakeholders.
Analyze the role of U.S. businesses in influencing ethical behavior and social responsibility in global markets.
Patty StonesiferProviding leadership in the nonprofit world can provide untold benefits on the welfare of thousands. Patty Stonesifer stands out as an outstanding example in this regard, moving from the important role as CEO of the Bill and Melinda Gates Foundation, to the CEO of Marthas Table, the huge nonprofit, providing food, clothes and education for those families in need. Work in this field requires the same critical skills necessary to succeed in the for-profit world. Marthas Table focuses on empowering residents, and the importance of placing needs of others before her own.
Its a fact that ethical behavior requires more than just following the law. It should be obvious that legal behavior is a first step toward ethical behavior.Behavior that is in conflict with values and sense of right and wrong can damage your self-esteem.Corporate responsibility is a fairly recent term, as the growth of companies engaging in less-than-ethical activities has continued to grow. It also extends beyond country boundaries.Unfortunately, people involved in business may be tempted to do something unethical in order to increase sales and profits, but they often do because when they are caught, our legal system will rarely deal harshly with them.Individuals who report unethical or illegal behavior within an organization are referred to as whistleblowers The Dodd-Frank Wall Street Reform and Consumer Protection Act provides for an award for whistleblowers whose actions result in a legal conviction.Progressive companies use social media to communicate their Customer Service efforts with the public. This often takes a social audit to provide oversight on doing things ethically.Have you seen or experienced businesses that have engaged in unethical practices? The primary recourse for many is voting with our feet and not doing business with these providers in the future. In addition, social media is now providing a venue for expressing displeasure with unethical practices.Business Ownership: Starting a Small BusinessFive How to Form a Business
OBJECTIVESAfter you have read and studied this chapter, you should be able to:Compare the advantages and disadvantages of sole proprietorships.
Describe the differences between general and limited partners, and compare the advantages and disadvantages of partnerships.
Compare the advantages and disadvantages of corporations, and summarize the differences between C corporations, S corporations, and limited liability companies.
Define and give examples of thee types of corporate mergers, and explain the role of leveraged buyouts and taking a firm private.
Outline the advantages and disadvantages of franchises, and discuss the opportunities for diversity in franchising and the challenges of global franchising.
Explain the role of cooperatives.
Anne BeilerSuccessful businesses often are created and thrive through a wide variety of motivation and circumstances. Ann Beilers growth from a humble start in a pizza and pretzel endeavor, and has evolved to a industry leader following her founding of Annie Annes. During her journey to success she focused on what she calls the three small Ps: purpose, product, and people. Which, as she proudly states, has resulted in big P profit.
The different forms that a business can take is important to know, as the degree of responsibility and legal impact can have a significant impact on how successful a business endeavor can be.The most common, and least complex business form is that of a sole proprietorship. Theres minimum of paper work involved, leading to the ease of formation and ease of dissolving a sole proprietorship as wellThere continues to be a growth in online franchising, which presents significant advantages to non-franchise operation: shared risk, shared responsibility, and quite a bit of freedom from many types of competition and geographical opportunities.Theres also been an exponential growth in the area of virtual organizations, taking full advantage of the power of the Internet.Six – Entrepreneurship and Starting a Small Business
OBJECTIVESAfter you have read and studied this chapter, you should be able to:Explain why people take the risks of entrepreneurship; list the attributes of successful entrepreneurs; and describe entrepreneurial teams, intrapreneurs, and home- and web-based businesses.
Discuss the importance of small businesses to the American economy, and summarize the major causes of small-business failure.
Summarize ways to learn about how small businesses operate.
Analyze what it takes to start and run a small business.
Outline the advantages and disadvantages small businesses have in entering global markets.
Prodencio UnanueFor over 80 years, Goya Foods has provided “a little taste of home” for generations of Hispanic immigrants. Prodencio Unanue, the company’s founder started his successful enterprise in New York, and over the years Goya has served the needs of more than their original customers, the Hispanic families, to where their sales now exceed over $1 billion dollars. Providing for a variety of non-traditional foods, such as yucca, guava paste, and pigeon peas. Their slogan, “If it’s Goya, it has to be good”, has helped their enterprise spread to future generations, responding to the country’s change in tastes, emphasizing the healthful nature of their offerings. Prodencio, and now his offspring, took a risk, and it continues to pay off for their family and their customers.
Entrepreneur is a term thats extremely common, yet its one that was literally unused as recently as a generation ago.Home-based/web-based businesses have increased exponentially, due, in great part to the increase development of more user-friendly tools with which entrepreneurs can perform a variety of important functions in building and successfully operating a business. (Our webinar on the Virtual Office will provide detailed descriptions on how these functions can be used.)Its a surprising fact that nearly 80% of businesses in the U.S. are classified as a small business, and many have fewer than 20 employees.Do you have what it takes to be an entrepreneur? See how yoou score on the entrepreneur readiness questionnaire on page 156. Send me your results by email to bill.denyer007@gmail.com for 150 extra credit points.
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