Business Ethics and Values for Social Responsibility

Question: Discuss about the Business Ethics and Values for Social Responsibility? Answer: Identification of Each Stakeholder and Impact of Economic Crisis to Stakeholder The different stakeholders of the bank are customers of the bank, shareholders of the bank and government. All these stakeholders were affected by the great depression of 2008 that are described below Customers of the bank Banks at that time were changing their strategy to increase their business and a lot of loan was approved that exceeded the guarantee amount. Most of the bank in USA and the UK were unable to recover that money. Due to this depression, the banks had become stricter and they were not providing any loan to the business organizations (Crane Matten 2010). The savings account holders were in a dilemma whether they will get the money or not. Thus, the confidence of the customers was draining and bank was losing their normal business because of high interest rate for loan and low security of their savings account. Shareholder of the bank Customers were losing confidence in the banking business and the share prices were well below the required level. The investment of the shareholders was under huge threat, and this was not encouraging any further investments by the investors. The onset of the credit crunch created problems for the shareholders as the banking sector was running out of cash to operate their business. The unethical business process of the bank was the main reason that developed the situation. Government The major reasons behind the financial crisis were the two major players namely USAs Lehman Brothers and UKs Northern Rock in the banking sector. Both the banks ran out of money and government had to take initiatives to minimize the rumour. Thus in such a situation, the government provided lots of funding to the bank and helped to regain the confidence of the customer. Huge capital investment by the government of UK was a bold tep that makes them economically unstable and several other developments was prohibited however; the government is still trying to recover the situation by controlling the banking activity strictly. Argument from the utilitarian perspective According to the utilitarian perspective of normative ethics, it is the moral and ethical action that maximize the utility of the resources. According to the defination, in this casestudy no action from the banking sector was nither ethical nor profitable. Thetrefore from the utilitarian perspective it was a avoidable damage that may be restricted with proper vission and ethical action. f we consider the government approach in the banking industry in the UK, then it becomes very difficult to get further borrowings from the financial sector because every investment should be backed up by proper and calculated bank guarantee. Therefore, from the utilitarian perspective, it can be said that the government of UK has taken the right step in tightening the banking regulation of the country. The customers were losing their confidence in the banking sector and that was a threat to the economic condition of the country because UKs economy was highly dependent on the banking sector. However, the government of the country provided the required funding of 70 billion to the countrys banking sector to regain the customers hope. In spite of huge funding by the government, it was not sure, that all the financial institutions would run their business ethically. Therefore, it is the right decision to implement strict regulation by the government to control the banking sector from any further crisis (Crane Matten 2010). However, some of experts are saying that the strict regulation of the banking sector will lose the business that will not help the organizations to overcome the losses they have suffered. On the other hand, if we consider the government funding, then it will be impossible for the government to provide such kinds of fund any more in such a short period. Therefore, to ensure the customer confidence and a stable economy of the country, the government has taken an appropriate action that will ensure ethical operations by the banking sector. The aggressiveness of the banking business therefore, will be low and this will ensure the repayment of their loan from the reliable sources. Explanation about UK Banks that acted ethically in their operations From the philosophical perspective of the maxim of duty, it can be considered that the banks in the UK have not acted ethically because of their several aggressive strategies, in order to increase their business. In the early 1980s most of the banks were conservative, since, they were more dependent on the customers who deposited money in their bank. Therefore, customers have a great influence in the operating procedure of the bank. However, from the late 1990s, the bank business started to grow when many business organizations started to borrow their fund to strengthen their cash flow. The unethical practices by the bank officials were introduced to survive the competition in the market and most of the investments were made on land guarantee. . People were borrowing money to make their home. However, payment of the loan was provided up to 125% due to the competition. Along with the banks, many customers also made the unethical practice by borrowing money from several banks with the same land. The banking business was aggressive at that time and the minimum government regulation was available to control the businesses that lead to the unauthorised funding, which in turn resulted in huge loss by the non-payment of the loans (Mallin 2004). Customers was losing hope because banks were unable to return the depositors money that was guaranteed to them. All the factors acted as the unethical practice of the UKs banking sector. It was clear that the UK banks have not acted ethically in their business operations because they was providing the loan to most of the borrowers without verifying the degree of guarantee and at some instances banks were providing loan that was in excess of the bank guarantee. All these practices were unethical because in the early 1990s the source of the fund was depositors money that the bank used to provide loan with interest. Therefore, the money of the public was under the risk due to the aggressive activity of the bank that was ideally unethical. The practice of the banking sector was unethical because those customers who were highly dependent on the borrowing and made a proper repayment within time, but were unable to take loan to operate their business activity. Involvement of Clashes of Rights with the mentioned situation (Judgement of relative importance) The clashes of rights that are involved in this situation are the business right of the bank and the operating activity that was involved with the customers confidence. The relative importance of the right is associated with the customers and shareholders that are possible to judge. With this situation of the banking sector, the most affected persons are the shareholders who have invested a lot of money to make profit. The customers are also affected in this situation because they have provided the funds to the bank and in this situation; they do not know how they will get the return. Both the rights matter here because the bank was committed to both stakeholders. It was important for the bank to provide the information and take proper attention of their investment. The violation of the action by the bank officials was unethical. However, there was no such regulation of the government that would restrict the borrowing (Fisher Lovell 2009). Therefore, without any hindrance the busine ss of providing loan become popular, that involves many unethical practices form different industries, and among them, the real estate was the main. According to rights theory, as long as the distribution of wealth in society is achieved through fair acquisition and exchange, the distribution is a just one, regardless of any degree of inequalities that may ensue. Therefore, for both the stakeholders, right to information is the most relevant in this context. None of the stakeholders was aware about the fact that the bank is providing loan to their customers without any proper document just to compete in the market. If the customers had the information of the banks negligence then they might not depend on the bank, which is same in case of shareholders as well. If the shareholders knew it then they might not invest so much. Right to information is inalienable in this case because the bank has unethically provided loan to their customers only to make more profit. Application of normative theories Virtue Ethics The current situation of the banking sector can be explained with the two normative theories namely virtue ethics and egoisms. According to the virtue ethics, it is the action of the individual, which is more important to identify the codes of conduct to take an action. From the organizational perspective, the decision authority of the bank has decided to become aggressive which was unethical without the return guarantee. However, banks were more interested to provide more loans without thinking of the return. For example, managers of the bank decided to make aggressive business. Banks that were more involved with the activity of aggressive business faced the biggest problem in the industry and the government had to take the initiative to help them to gain the customers confidence (Mallin 2004). According to the virtue ethics, the officials in the banking sector were part of the race and change was introduced in the late 1990s with the onset of globalization. Therefore, several inter national banks like American Home Mortgage, ABN AMRO, Lehman Brothers etc. were also involved with the actions of unethical practices that are most relevant to the normative theory of virtue ethics. Egoisms The situation can also be explained with the theory of egoisms that explain an action is morally right or wrong. In the late 1990s, most of the banks became liberal and provided loans to their customers for several reasons. The main purpose was to invest in the land or in the real estate sector. All the investment of the bank was done to increase the business and to survive the increasing competition. In this case, the bank had taken these actions to bring more benefits to their customers and shareholders by providing more interest and profit. Therefore, the intention of the action was good, but the result of the action was on the negative side. The importance of the egoisms was more relevant because of the sustainability factor that will increase the intensity of the action without implementing the fact of return (Mallin 2004). Therefore most of the banks had done the same thing and provided a lot of money to their customers without thinking or verifying the process of repayment tha t lead to the disaster in the banking sector as well as generated the financial crisis. Reference List Crane,A Matten,D (2010) Business Ethics. (Third Edition). Oxford University Press. Fisher,C A.Lovell (2009) Business Ethics and Values. Prentice Hall. Mallin,C (2004) Corporate Governance. Oxford University Press.

When Words Are not Enough The Magic of Music

Music is the sphere where the most unbelievable extremes meet; perhaps, this is the only sphere where complete harmony is possible. However, to have a better understanding of the music, careful analysis of its components is as important as the general impression. Analyzing several notable performances, one can feel the heartbeat of the musical rhythm.Advertising We will write a custom essay sample on When Words Are not Enough: The Magic of Music specifically for you for only $16.05 $11/page Learn More The three pieces under the analysis are strikingly different, yet they all possess certain unifying feature. Each of them represents a different musical style; in Ostrowsky’s performance of Marquez’s Dragon, it is the Mexican music, in Mackey’s composition it is closer to classics, as well as Grainger’s music. It is obvious that the tempo of the three concerts vary considerably. In Golemo’s version of Grainger, it is close to Andante Moderato, whereas in Mackey’s Aurora the tempo is somewhat slower, approaching Larghissimo. Marquez’s Dragon is moving with the grace of Adagio. The rhythm of each piece, the sounds and silences, have a stunning effect on the audience. While the music in Ostrowsky and Golemo’s interpretation create a constant flow of sounds, which crates an impression of integrity, Mackey’s piece in Heidel’s version sounds much more strained, making the audience feel the tension of the moment, with help of the uneven rhythm. Speaking of the melody of each piece, one must necessarily mark that the peculiarities of each composition are emphasized with help of the original interpretation of the orchestra. One of the finest examples of the classical musical pieces, the three compositions create the impression of integrity and wholeness, with their conjunctive melodies. Although Golemo and Ostrowsky tend to change the melody in the most dramatic moments of t he performance, which sends shivers down people’s spines, there is no doubt that the three compositions make complete pieces with not a single trace of incompleteness. Considering each musical piece, one can come to the conclusion that each of them is a complete theme. Listening to the enchanting melodies, one can set his/her imagination completely free; as (s)he follows the curvy path of each composition, one will inevitably mark that the music tells the story of the place far-away. One of them triumphant, another sad, the third thrilling and intriguing, they created entire themes, the stories told in music.Advertising Looking for essay on art and design? Let's see if we can help you! Get your first paper with 15% OFF Learn More Another important feature of the compositions is their texture. With help of the variety of musical instruments, the melodies in each case sound polyphonic, which enriches the musical pieces and makes them incredibly profound. This make s the music sound most harmonic and adds the musical compositions expressivity. Each instrument performing its function and none of them singled out, they create the most impressive music altogether. Like an organism where every molecule is of paramount importance, these melodies comprise the sounds of dozens of musical instruments, yet they make an impression of a complete piece with each of its elements an integral part of the whole. Speaking of the musical pieces, one must necessarily mention their dynamics. It must be admitted that there are certain switches of dynamics in the Golemo’s performance, as well as the concert conducted by Marquez, these changes are easily perceived as the logical continuation of the â€Å"stem† melody; like a river that can branch different ways yet stay the same, powerful and magnificent in its beauty, the symphonies played by Marquez and Golemo vary, yet these variations are taken as a whole. In contrast to them, Ostrowsky tends to ke ep the melody within the boundaries of its slow pace. Impressive and enchanting, these musical pieces evoke the grandest visions and lead one to the Promised Land of the classical music. This essay on When Words Are not Enough: The Magic of Music was written and submitted by user Fletcher R. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Death Of A Salesman, American Dream essays

Death Of A Salesman, American Dream essays After reading Death of a Salesman by Arthur Miller, I notice a major difference can be noticed between my vision of the American dream, and the Loman familys vision of the American dream. To mean the American dream is to decided on your own what you want to do for a living when you are older, and how you want to go about getting there. There are many roads you can take to get to your goals. You can go to college if you desire to, or if your goals and standards are set lower, you can achieve them without college. The choice on how you want to live your own American dream is limitless in my eyes. In my opinion the Loman family has a terrible view of the American dream, and will never be able to achieve true success. The Loman family lives in more of a dream world than reality. They often sugar-coat their lives and make things seem much better than they are instead of actually facing lifes hardships and dealing with them. The entire Loman family does not see life for what it really is, they see life on how they wish it was. Instead of trying to gain their desired lifestyle, they pretend they already have it. Willy Lomans imagination is much larger than his sales skills, which leads to him getting pay cuts and eventually leads to him getting let go from his company. Willys sons Happy and Biff serve as clueless children who live through their fathers lies and false lifestyle. Willys wife Linda serves as a loyal wife who stands by her husband and lives in his dream world. Through out the play I believe Arthur Miller shows many examples of the American dream, but none of them are of the nuclear Loman family. In the beginning of the story a boy named Bernard (neighbor) states that Biff needs to study with him today for the Regents exam that their class would be taking next week. Bernard also stated the results will determine who gets college scholarship. After hearing this Willy...

The Composition and Properties of Glass

The Composition and Properties of Glass When you hear the term glass you may think of window glass or a drinking glass. However, there are many other types of glass. Glass is the name given to any amorphous (non-crystalline) solid that displays a glass transition near its melting point. This is related to the glass transition temperature, which is the temperature where an amorphous solid becomes soft near its melting point or a liquid becomes brittle near its freezing point. Glass is a type of matter. Sometimes the term glass is restricted to inorganic compounds, but more often now a glass may be an organic polymer or plastic or even an aqueous solution. Silicon Dioxide and Glass The glass you encounter most often is silicate glass, which consists mainly of silica or silicon dioxide, SiO2. This is the type of glass you find in windows and drinking glasses. The crystalline form of this mineral is quartz. When the solid material is non-crystalline, it is a glass. You can make glass by melting silica-based sand. Natural forms of silicate glass also exist. Impurities or additional elements and compounds added to the silicate change the color and other properties of the glass. Glass Examples Several types of glass occur in nature: Obsidian (volcanic silicate glass)Fulgurites (sand that has been vitrified by a lightning strike)Moldavite (green natural glass likely resulting from meteorite impacts) Man-made glass includes: Borosilicate glass (e.g., Pyrex, Kimax)IsinglassSoda-lime glassTrinitite (radioactive glass formed by heating of the desert floor by the Trinity nuclear test)Fused quartzFluoro-aluminateTellurium dioxidePolystyreneRubber for tiresPolyvinyl acetate (PVA)PolypropylenePolycarbonateSome aqueous solutionsAmorphous metals and alloys

Reactive Power (VAR) Compensation using Photovoltaic (PV) Inverter Assignment

Reactive Power (VAR) Compensation using Photovoltaic (PV) Inverter - Assignment Example The error is sent via PI controller and summed to the grid’s voltage in order in order to get a voltage amplitude equivalent to that of the inverter. Active power generated by the inverter is compared with reference active power signal to produce error. Error passes via PI controller, giving rise to a loading angle. This loading angle is then summed to grid’s voltage phase angle, hence resulting to an increased inverter phase angle. The Phase Locked Loop will still recognize the fundamental positive sequence of the source voltage even at the worst cases scenarios of voltage harmonic distortion.   At these conditions, the active filter absorbs balanced and sinusoidal currents from the source, which are in phase with corresponding fundamental positive sequence of the source voltages. The development of this regulation structure for active power filter is employed when combining with other structures that are to be connected in dc link bus. The structures are static converters that are capable of exchanging active power between an energy source or an energy storage device (capacitor at night). The inverter easily transfers this active power to the grid.   A Power Conditioner with energy storage capability is a viable solution in improving the reliability and the qual ­ity of an electric energy supply. There are several tasks that are performed at a single time, for example current harmonic reduction, smoothing of pulsating loads and reactive power com ­pensation. Moreover, the Power Condioner should work as Uninterruptible Power Supply (UPS) at a short time during interruptions of the grid supply. The Power Compensator is a flexible that is coupled to energy storage device like supercapacitor and battery. At the inverter’s dc side, there is a capacitor that stabilizes proper voltage level for better operation of the inverter that acts current source. The rectifier delivers dc power

Managerial Economics Resit Assignment Essay Example | Topics and Well Written Essays - 1250 words

Managerial Economics Resit Assignment - Essay Example However, in a free market economy, price is highly influenced by the market forces of demand and supply and the utility or the value customers are expecting from a commodity is also influenced by these market forces. This paper addresses factors that determine the price of computers in a free market and explain why computer price has continued to fall even while the demand constantly increased. Price determinants of computer in free market Free market is a market system with few government restrictions on how a product or service can be produced and marketed or on how a factor of production can be employed (Kates, 2011). Government in all other market systems do intervene in matters regarding how a good or service can be produced and marketed and how factors of production such as land, labor, capital and organization can be employed more than in the case of free market. As there are relatively few government restrictions in countries like United States and Canada, their economies are said to be closer to free-market economy. In a free market economy, price is determined by the market forces of demand and supply. Consumers are willing to pay for a goods or service only if they are worth the price. Similarly, suppliers are ready to produce and market only if consumers are ready to pay for them. Market equilibrium occurs when market demand and supply are equal and this is how the price of a commodity is determined. Thus, value or utility of the commodity and willingness to pay are significant factors that determine the demand and supply forces in the market. In a free market mechanism, price is never affected by outside forces such as government restrictions. The resources are allocated by the spending decisions of millions of consumers and producers. As governments place no or relatively very less restrictions on what can be bought and sold, owners of factors of production and producers of goods and services have fuller right to buy and sell whatever they own thr ough the market system. When it comes to computers in a free-market, the price is determined according to the demand and supply forces. As depicted in the table and graph below, price of computers in a free market is determined in the equilibrium point where the demand for computers and its supply intersect. When price of the computers areas lower as 10,000 or 15,000, the demand may increase to 60 and 50 respectively and the supply will reduce to 20 and 30 respectively. As the table shows, there is only one price of shifts ($ 20,000) where the market is in equilibrium. Quantity demanded is equal to quantity supplied at 40, 000 computers. At all other states, the market price is in disequilibrium wherein supply of computers and demand for computers are in a state of imbalance. Disequilibrium occurs either when the demand exceeds supply or the supply exceeds the demand for computers. Price per computer $ Demand (000 computers) Supply (000 computers) Market position Effects on price 10 ,000 60 20 Shortage Rise 15,000 50 30 Shortage Rise 20,000 40 40 Equilibrium Stable 25,000 30 50 Surplus Fall 30,000 20 60 Surplus Fall 35,000 10 70 Surplus Fall As far as computers in free-market mechanism is considered, government will not intervene in resource allocation. In other economic systems, governments may choose to interfere in the price mechanism mainly because they want to control,

Great Expectations Essay Example for Free

Great Expectations Essay Great Expectations by Charles Dickens is a novel that focuses on the life of Philip Pirrip and his expectations. Throughout the book these expectations change and as they do, the reader comes to realise the key theme of how a characters upbringing and environment can dehumanise them. This essay will examine this key theme and how it demonstrates and helps the reader understand Pips growth as a character.  Initially, Pip is a very compassionate and sensitive character. We see this right from the start as the first scene describes him at his families grave crying. The reason for this behaviour at this stage of the book is Pips sister and guardian Mrs Joe Gargery. She concluded by throwing me- I often served her as a connubial missile-  This quote shows that Pip feels in most ways inadequate to his sister and that this domination is the reason for his sensitive and compassionate appearance at this stage of the book.  However, when Pip receives his expectations from Mr Jaggers, and he moves into lodging with Herbert, this domination is no longer valid. As Pip falls deeper and deeper into debt with his flippant spending, he moves further away from Joe and his old home. This gap becomes more apparent after Mrs Joes funeral, when Pip has an awkward conversation with his used to be good friend Biddy. In this conversation Pip presents himself as much more of a selfish and uncompassionate young man: Biddy, said I in a virtuously self-asserting manner, I must request to know what you mean by this?  This quote demonstrates Pips growth as a character as it shows the speed at which he has changed into more arrogant and self-righteous Pip since his childhood. It helps the reader understand the theme of how a characters upbringing and environment can dehumanise them, by showing that in his new, wider-boundary environment, Pip has become somewhat dehumanised. This dehumanisation is demonstrated in this conversation, as Pips manner is made to seem selfish and arrogant to underline the gap between Pips humanised place of upbringing and his somewhat dehumanised state in London. After Mrs Joes death, Pip seems more compassionate and thoughtful. This is because his visit back to his place of birth has helped him realise the change that he has undergone while he has been away by showing him the emotional distance he has put between himself and his family, and the consequences these distances have had on his relationships with his friends and family back home. This compassionate change is reinforced when he sets up Herberts job in a bid to see his friend more financially stable. I did really cry in good earnest when I went to bed, to think that my expectations had done some good to somebody.  This quote shows that Pip has realised the main theme of how a characters environment and upbringing can dehumanise them, by acting in this compassionate and thoughtful way. Also by referring to Herbert as somebody at the end of this quote, Pip shows the reader that he does not believe that his expectations have done himself that much good. In conclusion, Pip reacted throughout the novel towards his environment and upbringing in both negative and in the end positive ways. At the beginning of the novel, he seemed a very modest and sensitive young boy. However when he receives his expectations this marks the beginning of the changes and dehumanisation that he undergoes whilst he is in London. Thankfully though, after his experience at Mrs Joes funeral Pip realises these changes that he has undergone and endeavours to be more compassionate and thoughtful. This shows the reader that Pip has almost completed a full circle of growth, in terms of his behaviour in relation to his upbringing and environment, and this was reinforced by the main theme of how a characters upbringing and environment can dehumanise them.