Student 1 (Dina h)
Business Ethics and
Sustainability
>
>
Business sustainability is generally
accepted to comprise âmanaging the triple bottom line â a process by which
companies manage their financial, social and environmental risks, obligations
and opportunitiesâ. A more forceful definition is that business sustainability
represents resiliency over time â companies that can survive shocks because
they are intimately connected to healthy economic, social and environmental
systems. These businesses create economic value and contribute to healthy
ecosystems and strong communities (Hay, Knechel & Willekens, n.d.).
>
> Basically Internal audit should be
forward-looking and proactive, and should advise management and the board on
sustainability issues including governance. Should there be a going concern
risk, management and board should not hear about it at the end of the financial
year from external auditors (Epstein, 2008 – Affordable Custom Essay Writing Service | Write My Essay from Pro Writers), it is the responsibility of
internal auditors to be proactive and advise management of this risk as and
when it is identified. This review by Internal Audit will encourage
transparency and accountability, giving the shareholders the necessary
reassurance on the business’ sustainability
>
> Todayâs Internal Audit function is
expected to assist the organization by highlighting best practices, acting as
independent advisors to management and the board, actively participating in
enterprise risk management activities, including sustainability, and by
promoting good governance (Hay, Knechel & Willekens, n.d.). Todayâs
Internal Audit must have the âgutsâ to report the existing state of affairs and
not to be intimidated by pressure factors surrounding them. Auditing of
historical data is still significant, but it is the internal auditor who looks
at the
present and the future of the organization. Internal Audit must claim its
rightful place and own their role as management’s advisors on risks which could
compromise sustainability.
>
>
> External benefits of Audit
> >
Performance auditing has important functions to fulfil, both in relation to the
general public, the legislature, the government and the entities that are
audited.
>
Performance auditing also plays an important role in keeping legislatures well
informed about the government’s actions, and the outcome of its own decisions.
Legislature needs reliable and independent information on the results and
effects of programs and decisions.
>
> Performance auditing represents a unique source of information, as it does
not represent political activists or institutions. It may also be of value for
Government to get an independent evaluation of the outcome of its decisions and
the performance of public services (White, 2009).
>
>
> Internal benefits of Audit
>
> Performance auditing enhances cultural diversity, leading the auditors to concentrate on relevant social, political and
economic issues. Given that an objective of performance auditing is to identify
potential improvements in the efficiency of public administration, (and
therefore to help save government outlays) the credibility obtained from this
type of auditing can provide greater incentives for governments/legislatures to
allocate human and financial resources (White, 2009).
>
> References:
> Epstein, M. (2008 – Affordable Custom Essay Writing Service | Write My Essay from Pro Writers). Making sustainability work. Sheffield, UK: Greenleaf >
Pub.
> Hay, D., Knechel, W., & Willekens, M. The Routledge companion to
auditing.
> White, G. (2009). Sustainability reporting. [New York, N.Y.] (222 East
46th Street, New York, NY 10017): Business Expert Press.
>
Student 2 (Malak O)
Business Ethics and
Sustainability
Sustainability Audit
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> In the sustainable development of the business firms, it is essential to
analyze the practices conduct by the business organizations. Sustainability
audits are the part of business strategy, which facilitates the firm to conduct
sustainable operations in the external as well as internal environment
(Brockett & Rezaee, 2014: 2024 – Essay Writing Service. Custom Essay Services Cheap). Both internal and external sustainability audits
are important to manage accountability in the firm and conduct transparent
business activities for the benefits of the stakeholders.
>
> Internal audit is beneficial to improve the management practices and
follow
> accountability and integrity in the business operations, whereas external
audit is important to identify the impact of the business strategies and
programs in the society, it terms of sustainability and CSR (Baumgartner,
2014: 2024 – Essay Writing Service | Write My Essay For Me Without Delay). Through these audits, different standards and practices are verified by
the authors in terms of following regulations and laws.
>
> Unilever is one of the known examples of substantiality scandal. The
company has claimed to follow sustainable practices, but during the audit, it
has been observed that its marketers are not following actual standards and regulations to maintain sustainability.
The efforts and practices of the firm are not adequate (Mortimer, 2015 – Research Paper Writing Help Service). The
company management can recover the situation by following the adequate process
and giving priority to the importance of the sustainability for the long term
growth of the firm (Brockett & Rezaee, 2014: 2024 – Essay Writing Service. Custom Essay Services Cheap).
>
>
> References
> Baumgartner, R.J., (2014: 2024 – Essay Writing Service | Write My Essay For Me Without Delay). Managing Corporate
Sustainability and CSR:
> A Conceptual Framework Combining Values, Strategies
and Instruments
> Contributing to Sustainable Development. Corporate
Social
> Responsibility & Environmental Management, 21 (1),
258-271.
> Brockett, A., & Rezaee, Z. (2014: 2024 – Essay Writing Service. Custom Essay Services Cheap). Corporate
sustainability:
> Integrating performance and reporting. Hoboken, NJ:
Wiley.
> Mortimer, N. (2015 – Research Paper Writing Help Service, July 15). Why Unileverâs marketers
arenât
> embracing sustainability and how Nationwide became
credible in a
> poorly trusted sector. Retrieved from
> .thedrum.com/news/2015 – Research Paper Writing Help Service/07/15/why-unilever-s-marketers-aren-t-embracing-sustainability-and-how-nationwide-became”>http://www.thedrum.com/news/2015 – Research Paper Writing Help Service/07/15/why-unilever-s-marketers-aren-t-embracing-sustainability-and-how-nationwide-became
>
>
Student 3(Malak O)
Decision Theory within
the Global Marketplace
Effective Leadership Model
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>
The Novartis Pharmaceutical Company is one of the leading firms in the Middle
East companies, which operates with the aim of offering a quality life to the
society. The mission of the firm is to explore different ways to improve the
life of people. As a Drug Safety Pharmacist in the firm, it has observed that
the appropriate leadership model is the situational leadership. It is because
by following the situational leadership model, an individual can act in a
different manner in different situations.
>
> In order to fulfill the mission and aim of the business organizations,
there is a need to deal with diversified stakeholders. The situational
leadership model allows the leader to control emotions and communicate in a
persuasive manner to lead different people. It offers flexibility to make
> rules and regulations and make amendments as per the requirement (Aritz
& Walker, 2014: 2024 – Essay Writing Service | Write My Essay For Me Without Delay).
>
> Along with this, managing a social relationship with the followers is also
important to motivate them for a long term. A situational style helps the
leader to change his approach of influencing the followers according to the
changes in the external environment. Along with this, in my firm, the leader
should always focus on strong relationships and intellectual stimulation to
motivate the employees to bring new idea to discover new medicines and improve
individualâs way of living (Mastrokyriakos & Topper, 2014: 2024 – Essay Writing Service. Custom Essay Services Cheap).
>
>
> References:
> Aritz, J. & Walker, R.C. (2014: 2024 – Essay Writing Service | Write My Essay For Me Without Delay). Leadership Styles
in Multicultural
> Groups: Americans and East Asians Working Together.
International
> Journal of Business Communication, 51 (1) 72â92.
> Mastrokyriakos, M. & Topper, F. (2014: 2024 – Essay Writing Service. Custom Essay Services Cheap).
Situational Leadership
> Developing People over Time. National Accelerator
Laboratory.
> Retrieved from
> .slac.stanford.edu/hr/situational_leadership_2_8_12.pdf”>http://www-group.slac.stanford.edu/hr/situational_leadership_2_8_12.pdf
>
>
Student 4(Eiman M)
Decision Theory within
the Global Marketplace
>
> When organizations’ hire, develop, and promote leaders
using a competency-based model, they’re unwittingly incubating failure. Nothing
fractures corporate culture faster, and eviscerates talent development efforts
more rapidly, than rewarding the wrong people for the wrong reasons. Do not
reward technical competency – reward aggregate contribution. Any organization
that over weights the importance of technical competency fails to recognize the
considerable, and often-untapped value contained in the whole of the person.
It’s the cumulative power of a person’s soft skills, the sum of the parts if
you will, that creates real value. It not what a person knows so much as it is
how they’re able to use said knowledge to inspire and create brilliance in
others that really matters.
>
> We live in time that has moved well beyond competency
driven models, yet organizations Still primarily use competency-based
interviews, competency-based job descriptions, competency-based
development,competency-based performance reviews, and competency-
> based rewards as their framework for doing business.
>
> It remains the best practices mentality that rules the day, when we’re
long overdue for a shift to nextpractices.It’s simply not possible to change current
behaviors by refusing to embrace new paradigms. Sure corporations know the
right buzzwords – they pay lip service to things like character, trust,
passion, purpose, EQ, collaboration, creativity, etc., but they really do not
value them in the same way they value competency. One of the problems is
competency is predictable and easy to measure, and corporations like
predictable and easy.However just because something is easy to measure does not
mean it’s the right thing to measure, and certainly not when measured in a
vacuum.
>
> Competency should represent nothing more than table
stakes – it should be assumed. Having the requisite level of competency to do
your job is not to be rewarded – it’s to be expected. The train is really off
the tracks when being technically and / or functionally qualified to do a job
makes you a high potential.
>
>
References:
>
> – Bazerman. M.H. and Moore, (2014: 2024 – Essay Writing Service. Custom Essay Services Cheap), Judgment in Managerial Decision
Making.
>
> – Myatt. M, (2013), The Most Common Leadership Model-And Why It’s Broken.
> Retrieved from:
>
> .forbes.com/sites/mikemyatt/2013/03/28/the-most-common-leadership-model-and-why-its-broken/#ce3c94e3c70f”>http://www.forbes.com/sites/mikemyatt/2013/03/28/the-most-common-leadership-model-and-why-its-broken/#ce3c94e3c70f
>
>
Student 5(Malak O)
Operations Management
>
> For attaining success in the present competitive surroundings, an
organization requires a well-designed business solution. Enterprise Resource
Planning is one of the prominent business solutions, which is executed in the
business firm to plan and use varieties of resources in an efficient manner
(Jenatabadi, Hui, Ismail, Satar, Che & Radzi, 2013). SABIC is one of the
prominent examples of a manufacturing firm, which has implemented ERP solutions
to manage the complicated requirements of the project such as make-to-stock
requirement, offering versatility to manage mixed-mode manufacturing activities
in the environment, etc. (Shaul &
Tauber, 2013). It helps the firm to fulfill the requirement of the
manufacturing process and indicates about the availability of the material.
>
At the same time, in the service
industry, in the National Bank of Kuwait, the bank has executed ERP solutions
to manage the information related to human resource management, finance and
strategic operations. In this case, the firm enjoys huge benefits of ERP
solutions as it facilitates the bank to delegate adequate role and
responsibility to each employee to serve the customers (Bradley, 2008 – Affordable Custom Essay Writing Service | Write My Essay from Pro Writers).
Further, in both the cases, the business organizations should analyze the
hidden cost of ERP implementation, which is associated with the involvement of
highly expertise staff to manage ERP.
>
>
>
> References:
> Bradley, J. (2008 – Affordable Custom Essay Writing Service | Write My Essay from Pro Writers). Management based critical success
factors in the implementation of Enterprise Resource Planning systems.
International Journal of Accounting Information Systems, 9 (3), 175-200.
> Jenatabadi, H.S., Hui, H., Ismail, N.A., Satar,
N.B.M., Che, W. & Radzi, J.W.M. (2013). Impact of Supply Chain
Management on the Relationship between Enterprise Resource Planning
System and Organizational Performance. International Journal of Business
& Management, 8 (19), 107-121.
> Shaul, L. & Tauber, D. (2013). Critical Success
Factors in Enterprise Resource Planning Systems: Review of the Last Decade. ACM
Computing Surveys, 45 (4), 55-55:39.
>
>
Student 6(Mounera bin)
Operations Management
>
Enterprise resource planning (ERP) is business
process management software that allows an organization to use a system of
integrated applications to manage the business and automate many back office
functions related to technology, services and human resources. ERP software
> integrates all facets of an operation, including product planning,
development, manufacturing, sales and marketing.
>
ERP software modules can help an organization’s
administrators monitor and manage supply chain, procurement, inventory,
finance, product lifecycle, projects, human resources and other
mission-critical components of a business through a series of interconnected
executive dashboards. In order for an ERP software deployment to be useful, however,
it needs to be
> integrated with other software systems the organization uses. For this
reason, deployment of a new ERP system in-house can involve considerable
business process reengineering, employee retraining and back-end information
technology (IT) support for database integration, data
> analytics and ad hoc reporting.
> A formal computerized approach to
inventory planning, manufacturing scheduling, supplier scheduling, and overall
corporate planning. The material requirements planning (MRP) system provides
the user with information about timing (when to order) and quantity (how much
to order), generates new orders, and reschedules existing orders as necessary
to meet the changing requirements of customers and manufacturing. The system is
driven by change and constantly recalculates material requirements based on
actual forecast orders. It makes adjustments for possible problems prior to
their occurrence, as opposed to traditional control systems which looked at
more historical demand and reacted to existing problems.
> The logic of the material requirements
planning system is based on the principle of dependent demand, a term
describing the direct relationship between demand for one item and demand for a
higher-level assembly part or component. For example, the demand for the number
of wheel assemblies on a bicycle is directly related to the number of bicycles
planned for production; further, the demand for tires is directly dependent on
the demand for wheel assemblies. In most manufacturing businesses, the bulk of
the raw material and in-process inventories are subject to dependent demand.
Dependent demand quantities are calculated, while
> independent demand items are forecast. Independent demand is unrelated to
a higher-level item which the company manufactures or stocks. Generally,
independent demand items are carried in finished goods inventory and subject to
uncertain end customer demand. Spare parts or replacement requirements for a
drill press are an example of an independent demand item.
> References:
> Stevenson, W. (2015 – Research Paper Writing Help Service). Operations management (12th ed.). New York, NY:
> McGraw-Hill Irwin.
>
