products manufacturer. In 1907‚ it was founded by Eugène Schueller‚ a young chemist who developed a hair dye formula which was safe for people. He named the products as “Aurelióne” and offered to the hair salons in Paris. Within 2 years‚ he registered his own company as “La Societe Franeaise des Teintures inoffensives pour Cheveux”‚ which soon became L’Oreal. In 1920‚ the company employed 3 chemists in the laboratory. At the end of the year‚ there were 40000 hair salons in France and L’Oreal new products
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Activity 3-Stakeholders‚ Categories & Responsibilities of Organizations 1. Describe the basic features that distinguish the four basic forms of business ownership: sole proprietorships‚ general partnerships‚ C corporations‚ and limited liability companies. Ownership of C corporation is represented by shares of the stock‚ or shareholders‚ it is the most common type of the business‚ where ownership to the shareholders offers a limited liability to all its owners. Limited liability companies
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Strategic ethics and social responsibility are two of the most important‚ yet perhaps most misunderstood concerns in the world of business today. By their very nature‚ these fields are controversial‚ and there is no universally accepted approach for solving their questions. On the other hand‚ government is encouraging organizational accountability for ethical conduct‚ and organisations are being asked to prevent and control misconduct by implementing ethics programs. By defining strategic ethics‚ we can
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Introduction It all started in the early 1970’s‚ when two computer enthusiasts Bill Gates and Paul Allen sees personal computer is the key to the future. In 1975 they established their first company‚ Traf-O-Data‚ which sold mostly rudimentary computers that recorded and analyzed traffic data. Then after a year later Gates named their partnership as Micro-soft. In June 1980‚ Microsoft got their first break through‚ when IBM contracted Microsoft to develop languages for the PC operating system. Gates
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In the aftermath of the revelation that Bernard Madoff ’s investment fund was a tremendous Ponzi scheme‚ businesses have fallen under heavy scrutiny and continue to be challenged by the public as the result of a growing mistrust in the way business is conducted. Issues in management practices‚ like conflict of interest‚ can be raised from this debacle. Madoff developed a culture of individualism and arrogance that silenced any insurgence. His communication and manipulation skills helped him generate
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Business ethics and corporate social responsibility have become an increasing area of focus for organizations today. However‚ this has not always been the case in the American business environment. Chapter three "Conducting Business Ethically and Responsibly" (R.W. Griffin & R.J. Ebert‚ p.56 - p.87) concentrates on the development of ethical codes of conduct as it relates to business. The chapter also focuses on the social responsibility an organization holds in relation to everyday decision making
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Ethics are a collection of principles of right conduct that shape the decisions people or organizations make. In a market economy‚ a business put all possible effort in its own best interest in order to make the best profit. In other hand‚ businesses are involved each other in that process. It’s ethical in business to do the best possible for your own business without harm the interests or profits to other businesses involved. Ethical behavior is what all carrier people should have in all businesses
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and evaluating corporate social performance. There are three principal sections: (a) a summary of the approaches‚ models‚ and methodologies used in conducting more than 70 field studies of corporate social performance from 1983-1993; (b) a discussion of the principal conclusions derived from the data that (1) corporations manage relationships with stakeholder groups rather than with society as a whole‚ (2) it is important to distinguish between social issues and stakeholder issues‚ and (3) it is necessary
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profit‚ Bernie Madoff and his accomplices created and participated in what can be considered the greatest ponzi scheme in history. After several years in the securities and exchange industry‚ Bernie Madoff broke the law and deceived clients and investors in order to amass millions of dollars. It was unethical for him and others to prey on and betray the trust of investors. When he was repeatedly questioned by investigators‚ he consistently lied to evade criminal charges or suspicion. What started
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Business ethics and Madoff affair The Madoff affair has broken all what can have a relation with ethics. Studying the case of Bernard Madoff has shown that he is a very smart person‚ because he was able to make all kind of people invest‚ rich and poor‚ smart and stupid‚ individuals and companies…etc. Bernard Madoff has used many ways to convince people to invest. Ways that obliged him to break ethic rules. These ways are: * Injecting money in order to fund research projects against several
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