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Comparison between two retail companies picked are Walmart and Costco

The two retail companies picked are Walmart and Costco whose 2017 Financial statement links are provided below: WALMART https://www.nasdaq.com/symbol/ wmt/financials?query=income- statement COSTCO https://www.nasdaq.com/symbol/ cost/financials?query=income- statement Both organizations are well known brands and position themselves well with their customer base. Walmart’s value proposition is “We save people money so they can live better”. On the other hand, Costco’s value proposition is “All-in-one convenience and everyday affordability”. Both retailers focus on cost saving for their customers. Looking at their financial statements and by analyzing them a few key areas are evident when comparing the two organization. Looking at the current ratio and quick ratio we can determine the short-term solvency of each organization. The current ratio can be determined by dividing the assets by the liabilities. Walmart’s current ratio sits at 0.86 while Costco’s sits at 0.99. The quick ratio is c...
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Does management, in your view, help shape the values and ethics of an organization?

Ethics refers to standards of behavior that tell us how human beings ought to act in the many situations ( Velasquez et al , 2015).  Ethics is about determining value; it is deciding what is worth doing and what does not matter so much  ( Brusseau, 2012) . E thics has everything to do with management. Unethical business practice involves the tacit, if not explicit, cooperation of others and reflects the values, attitudes, beliefs, language, and behavioral patterns that define an organization’s operating culture (Paine, 1994 ). DISCUSSION What do you see as the role of ethics as it pertains to management and managers? Managers in organizations face ethical issues every day of their working lives . As managers take decisions they face ethical issues .  Whether they be engaged in   planning, organizing, motivating, communicating, or some   other management role, they face the fact that matters of   right and wrong, fairness and unfairness, and justic...
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Does management, in your view, help shape the values and ethics of an organization?

Ethics is an important part of a successful organization because owners and managers have to set the standard of ethics in the organization. It is management responsibility to set tone and shape the normal working environment. Seeds are easy to sow for unethical behavior in the mind of employees and it is especially important when people who are responsible does not set good example. Employees should know that there are personal and professional rights within the company. As if an employee is facing harassment, than the management should take it seriously. The working conditions are necessary and work schedule should be appropriate and fair. The administration, who does not keep employees' moral rights, will end up creating policies that can adversely affect the morale and motivation of workers (Fabian, 2017). Is employee behavior, ethical or not, a by-product of the organization's ethical climate?  Employees trust their management at the time when employees and executives prac...
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EXAMPLES OF MANAGERS WHO DEMONSTRATED ETHICAL BEHAVIOR.

In every industry, a code of conduct is important for managers, as a workforce  can not move forward without integrity from its leaders. The best managers place a high value on fairness and ethics, and their own performance as well. Not only do managers who create their own code of conduct benefit their workers, but they also often benefit the entire company’s public image ( Amico, n.d). This statement from the website Chron is crucial. It is easy to make rules and expectations but as a manager and leader you too must adhere to those guidelines as well. The leader sets the tone for the workforce that is why it is so important that they “Walk the Talk”. If the manager does not follow the code of conduct or show ethical behavior, then many will think why should I? Good managers are leaders and they need to set the example because workers are watching and learning from their actions. If a leader chooses to ignore some rules, then it can be expected that employees who see that behavior...
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Encouraging ethical behavior other than legally

Conflicts of interest In any endeavor involving more than one person, there will be conflicts of interest.  In the Enron case, these conflicts included: Individual vs. corporate goals (for example, Enron leadership’s self-interest vs. the interest of its shareholders) Enron vs. Arthur Andersen auditors Arthur Andersen auditors vs. Accenture consulting Investors vs. Arthur Andersen auditors Avoiding the conflicts I don’t believe “avoid” is the right word.  That word implies that conflict is eliminated.  But there are always competing interests in any exchange.  Therefore, I believe the better course of action is to recognize and acknowledge that the conflicts exist – and then to try to create structures and environments that reduce their effect. Further, “what could have been done” depends, to a large extent, on who is being asked to do something.  Obviously, Enron senior leadership could have decided not to engage in the off-balance-shee...
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Conflict of Interest Between Enron and Arthur Anderson

This paper discusses and analyzes the relationship and conflict of interest between Arthur Andersen LLP, a fast-growing accounting and financial audit company in the United States, and its client Enron, an American energy company, with incorrect financial reports, then will provide some recommendations that could avoid the conflict of interest. Discussion Arthur Andersen LLP established in 1913 by Arthur Andersen, was one of the largest audit firms in the world, Andersen was one of the fastest-growing and most profitable auditing units and consulting networks in the world in 1984. Arthur Andersen and its largest client in the business faces a serious integrity issue that could have avoided if the conflict of interest in their areas of business was properly addressed. The issue starts when it was revealed that Enron ‘s financial statements report which was audited by Arthur Andersen contained some incorrect financial information. Andersen was considered responsible for auditing the Enro...
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What could have been done to avoid the conflicts of interest you identified?

The conflict of interest between the two roles played by Arthur Andersen, as auditor but also as consultant to Enron; the lack of attention shown by members of the Enron board of directors to the off-books financial entities with which Enron did business; and the lack of truthfulness by management about the health of the company and its business operations. In some ways, the culture of Enron was the primary cause of the collapse. The senior executives believed Enron had to be the best at everything it did and that they had to protect their reputations and their compensation as the most successful executives in the U.S. When some of their business and trading ventures began to perform poorly, they tried to cover up their own failures. Greed and a lack of fundamental ethical values drove a potentially successful company into the ground. Had the executives of the corporation instilled values into their corporate culture that reflected dealings with them and others in a value driven and et...
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Does the value of a parcel of land come only from the profits it can generate? If not, what makes land valuable? Does it ever have any value that is not recognized by the law?

Patent ownership is essential because the owner of the patent or investor own all the right, title and interests granted by the patent. Almost all countries of the world have the patent system based on the “First-to-File” doctrine, in which the patent is granted to the inventor who is the first to file a patent application, regardless of the invention date. In the United States, Canada, and Philippines, the patent system was based on “First-to-Invest” doctrine, in which the inventor who first conceived of an invention then diligently reduced it to practice by filing a patent application, is considered the first inventor and is entitled to patent protection (General Patent, 2007). Later on Canada and the United States also changed their patent system from First-to-Invest to First-to-File system, because the First-to-Invest system was costly with long interference procedures in order to determine which investor conceived of the invention first.        ...
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