Understanding the Role of Law in Society and Governance
Law is defined as “a body of rules of action or conduct prescribed by controlling authority, and having legal binding force (Melvin, 2011). Law dictates every aspect of our day to day activities and gives us guidelines for what is right or wrong, upholds order, and without it civilized life would not exist.
Law in Business and Society
Laws are enforced by the government, both federal and state. Although it may seem as if federal has more power, it is actually the states that have more influence over individuals and business. States, unlike the federal government, cannot create new laws. This job is left up to the three separate branches of the government, Legislative, Executive and Judicial (Melvin, 2011). In a society we are mostly affected by statutory a law, which is broken down into two categories, civil and criminal. These laws affect businesses as well as individuals and breaking them will lead to fines or imprisonment (Melvin, 2011).
After the most recent recession, I believe that businesses are under a microscope now more than ever. With the scandal that came out from big businesses and their top executives, consumers and the government wanted ways to keep illegal activities from happening again. The Sarbanes-Oxley Act was put into place “to protect shareholders and the general public from accounting errors and fraudulent practices in the enterprise, as well as improve the accuracy of corporate disclosure (Rouse, 2014). SOX makes it, so we as consumers have a more clear view of what goes on behind closed doors of big business. I believe it has helped cut down on unethical business behavior by setting punishments for individuals who want to do things that may hurt others financially to benefit themselves.
I work for a produce company that buys and sells fresh produce within the US to different chain grocery stores. I handle all the logistic as the Transportation Coordinator and work with truck drivers on a daily basis. One major law these truck drivers need to comply with is the hours of service regulation. According to the Federal Motor Carrier Safety Administration, any driver of a commercial motor vehicle must not drive more than 70 hours per week, which decreased from the previous maximum of 82 (“Hours Of Service”, 2014). Drivers must allow themselves rest of 34 consecutive hours if they have worked a total of 70 hours the previous week before driving again (“Hours of Service”, 2014). Truck drivers are also only allowed 11 hours of drive time daily, with a limit of a 14-hour work day (“Hours of Service”, 2014). This means that once the driver has started down the road they can only drive a total of 11 hours. After the 11 hours have passed they must take a 10 hour break from driving or risk facing a fine if caught. Cutting back the amount of hours a truck driver can drive has affected the produce industry as well as others. Certain commodities need to deliver in a specific amount of time and can only ride in a trailer equipped with a reefer, which is a machine that maintains a specific temperature, for a period of time. Depending on the delivery location, a single driver in a tractor-trailer can make a trip from Southern Florida to Northern
Massachusetts in three days. The issue here is not drivers are given less time to make the same run. Produce has a shelf life and is deliveries are time sensitive. Truck drivers need to get loaded and get the product off as quickly as possible. The risk of hauling such sensitive freight can lead to claims against the truck driver. An example would be some customers may reject the product if they believe it has been on the trailer too long and were no longer okay to put in their stores. The sooner the product comes off the trailers, the better it is for the driver.
Conclusion
Laws separate us from the animals. Without them life as, we know it would not be as orderly or stable as we know it to be. Although many people still break laws and take a risk, our government has come up with ways to punish those who are not smart enough to break them. There will always be much debate about what laws are correct and what are not, but at the end of the day we need to have laws to ensure order.
References
Hours of Service. (2014). Retrieved from http://www.fmcsa.dot.gov/regulations/hours-ofservice
Melvin, S. P. (2011). The legal environment of business: A managerial approach: Theory to practice. New York, NY: McGraw-Hill/Irwin.
Rouse, M. (2014). Sarbanes-Oxley Act (SOX). Retrieved from http://searchcio.techtarget.com/definition/Sarbanes-Oxley-Act
Australian Legal System Structure, Contract Law, and Business Ethics
Abstract
This paper will look at three different dimensions of business law. It will start with an Overview of the Australian legal system looking at separation of powers, the Australian constitution and the federal parliament. It will then look at the issue of contacts of sale, making an argument on their nature that makes them by far the most popular and common commercial contracts before culminating with an overview of business ethics plus a study of various cases of unethical practices in Boeing Company which has been grappling with court cases and dip in public confidence due to some business malpractices.
The Australian Legal System
The Australian legal system has a fundamental foundation of the rule of law, independence of the judiciary and justice (Henry, 2004). This means the law treats all people, the Australians and the non Australians equally ensuring that everyone is safeguarded from unfair treatment by the government or its officials. The main basic principles of the Australian legal system are the procedural fairness, judicial precedence and the separation of powers. The Australian law system follows the one in the United Kingdom though it is distinct from most of the laws that operate in countries in Europe, South America and Japan. It is referred to as the common laws system and counties like the US, New Zealand and Malaysia use different variations of the law (Neil, 2009). The Australian constitution established a system of government called the federal system and the constitution distributes powers between the states and the federal government. In the constitution are two kinds of powers. There are the exclusive powers that entail the power of the government to make laws on national matters such as trade, taxation, commerce. External issues, national defense, Citizenship and immigration (Terence, 2004). There other powers that the federal government has been given by the constitution are called the concurrent powers where the two governmental tiers are able to make enactment of laws. The territories and the states have legislative powers that are independent in matters that are not particularly addressed to the federal government. If there is an inconsistency or controversy between the state/ territorial laws and the federal ones, the federal laws prevail because they apply to the whole of Australia. Australia has nine legal units; the eight territorial units and the overall federal unit. The day to day lives of the Australians are run by the territorial laws. Each of the federal and state units incorporates various separate branches of the governance system and these are the legislature, the executive and the judiciary. The legislature is responsible for making the laws, the executive administers them while the judiciary which is interprets and makes an application of them. The Australian high court makes an interpretation of the Australian laws and makes the decision on the cases that have federal significance including the validity of the law constitutionally. The high court is headed by the chief justice who is assisted by six other senior judges (Whitmore, 2009). There other courts like the federal court of Australia, the family court of Australia and the federal magistrate’s court which was established by the federal legislature in 1999 and has a wide range of jurisdictions. The Australian territorial courts have jurisdiction in all matters that are brought under the state or the territorial laws. The courts including the self-governing Territories in the North and Capital Territory, which are subject to the overriding Commonwealth's have plenary constitutional powers to make laws that would maintain order and peace in the in the states or the territories that they are made in (Whitmeore,2009). Each state and territorial system of courts is independent and some of the laws vary in nature. The government of Australia understands that people should have access to legal representation in order to ensure common justice. This means that the government can provide legal representation tom individuals who may not have the wherewithal to hire their own representative. Australian, like many other countries does not maintain strict separation of powers between the legislature and the executive sides of the governance. The Australian constitution defines the three governmental branches differently and the ministers in the government are supposed to hold a parliamentary seat. Australia does not maintain a strict separation between the legislative and executive branches of government indeed, government ministers are required to be a Member of Parliament constitution. The federal system of government in Australia means that the legislative powers are usually divided between the states and the common wealth. This is what popularly referred to as federal division of powers is and the enumerated powers are usually enjoyed by the commonwealth though the courts have expanded the scope at which the common wealth can make legal decisions. The northern and the Australian Capital territories are usually subjected to the power of the commonwealth in making full plenary powers especially if the territorial laws are inconsistent with the federal laws. However, the constitution states that there shall not arise a controversy in the interpretation of the federal and the state laws because if such discrepancy arises, the federal law is always superior that the different laws of each state.
The States including the self-governing Territories in the North and Capital Territory, which are subject to the overriding Commonwealth's have plenary constitutional powers to make laws that would maintain order and peace in the in the states or the territories that they are made in. This means that most the laws in section 51 are concurrent while the one in the next section are very exclusive to the commonwealth. This further explains that the states can make legislations in the aforementioned areas as long as there is inconsistent with the federal law and this also falls under division of powers. However, a situation where the high court has been largely involved in the interpretation of the constitution has led to a marked increase in the commonwealth powers thus the executive at the expense of the territorial and statutory powers (Whitmore, 2009). The Australian parliament is the arm of the government that makes laws and supervises all the other arms of the federal government and can make changes to the laws if it deems appropriate. The parliament is bi cameral meaning that it consists of a queen, a senate that has seventy six members and house of representative members who are 150 in number. There are two types of senators in the parliament; the state senators and the territory senators and the territory ones are elected using the preferential voting meaning that their term in office is not fixed. The territory senators are more influential in the national decision making because they represent a larger number of citizens that the state senators.
Contract of sale
A contract of sale is a contract that’s legal for the exchange of goods property or services from the vendor to the purchaser for a value that is agreed upon and they are, without doubt, both the most common and the most important of all commercial contracts. It is an ancient exchange practice recognized by the common laws but the Australian statutory law now recognizes it. The sale of goods contract of 1896 was designed to ensure that the transactions between merchants are straightforward (Salanie, 2003). The most basic application of the contract of sale is the simple transfer of property, goods or services for a monetary consideration that may involve one part owner and another part owner. This means that there are two levels of a contract of sale; absolute and conditional.
A sale contract occurs when the property is transferred from a vendor to a purchaser while an agreement to sell is when the contract of sale does not occur immediately, and it is given a future consideration. This means that an agreement to sell becomes a sale after the time span indicated in the agreement elapses. In every transaction that involves the transfer of good s, property and services for monetary consideration, the contract of sale must be involved whether consciously or subconsciously and this capacity to make purchase or conduct sales is usually regulated by the general Australian law under the sales act of 1806. There are even laws that govern contracts of sales made to people who are incapacitated, like the drunks, mad people or even minors who may not have the mental capacity to understand the details of the contract. Most common contracts of sale today are usually done in writing and the writing can be with or without a seal.
There are others, albeit in few cases that are made by word of mouth or a combination of the two methods. The law is however different when it comes to contracts of sale and the corporations (Fitzgerald, 2006). The goods that are involved in the contract of sale may be already in existent or may be manufactured or processed later after the contract is made and in the act, this is usually referred as future goods. There may be a contract of sale of goods where the sale depends on the contingency and this may not materialize meaning that in case a contract of sale is purported to effect a present sale of a good that is not already in existence the contract is not yet a contract of sale but an agreement to sell which means that there are chances that it may not materials. The contract becomes void if the goods which the seller and the buyer are transacting have perished without the knowledge of the seller prior to the making of the contract. However, if they perish after an agreement to sell is made; the risk is usually passed to the buyer according to the law. One of the most important factors in a contract of sale is pricing and the price may be fixed by the contract of left blank to be decided by the vendor and the buyer depending on circumstantial considerations in the course of dealership between the two transacting parties (Terry, 2003). Another famous instance in the modern days still under contract of sale is the agreement to sell goods using terms where the price will be fixed by a third party valuation and if that third party cannot make a valuation, the agreement is usually avoided. If the third party is prohibited from making the valuation because of fault of the vendor or the purchaser, the third party usually may seek damages from the two parties at fault. According to the Australian laws, a contract of sale is always subject to a condition that must be fulfilled by the seller and the buyer may decide to waive the condition or even treat that condition as a breach of contract depending on how the seller behaves especially if it is an agreement to sell.
The law in the case of a breach of a contract of sale is condition gives repudiations or warranties and ant party can claim for damages arising form the breach but this depends on the construction of the contract and the stipulations that were laid down when the contract was being made. This means that the contact is not severable and the buyer has to accept the goods once the contact is signed and any illogical grounds for rejecting it may lead to the treating of the contract as repudiated (Salanie, 2003). The implied terms in a contract of sale is that the goods are free and they remain free until a time shall come when the property passes to the buyer and the buyer is entitled to enjoy quiet possession of the good unless he or she is intercepted by the seller or any other party related to the contract.
One of the most common contracts of sale is the hire purchase (Cossa, 2008). Hire purchase is a close ended leasing and occurs in situation where the buyer cannot afford to pay the price that the seller has quoted at one go or in a lump sum but can afford to pay a fraction of the price as a deposit followed monthly rent figures called installments. In this case, the buyer gains possession of the property before he or she settles the full amount but the seller gets a percentage higher of the original price when the full amount is paid after the agreed period because the hire purchase price is always higher than the ordinary cash price. In most circles, hire purchase is referred to as installment plans or rent to own. In case the buyer does not honor the payment as agreed in the contract, the seller is allowed by the terms in the contract to repossess the property without refunding the deposit and the installments already paid. This is because the contract is even recognized by the law and the action the seller will take will be in accordance with the law.
Ethics
Business ethics is also known as corporate ethics and it is applied to examine the principles of ethics that arise in business atmosphere and it applies to every aspect of how a business conducts itself. The conduct of individuals in a business, position notwithstanding is relevant in the analysis of business ethics in a certain entity. Ethicism is the focus on ethical processes of business especially in the conscience focused 21st century business environment where pressure is being applied unto businesses to improve on how they conduct themselves ethically. This is because, the gains that are made when a business acts in an unethical manner are short term but the long term effects can be highly detrimental. Most businesses act ethically for a variety of reasons especially avoidance of fines and litigation, improving the reputation in the public realm, protecting the investments of the share holders, and to also protect the market share of the business. An ethical business has a competitive advantage over unethical ones especially because internal corruption is not condoned in such a business.
Unethical Practices at Boeing
One of the companies that have been riddled by a myriad of unethical practices in the recent past is the leading plane maker, Boeing of the United States (NY Times,2003). These unethical practices range from illegal business deals, accounting malpractices and illicit sexual liaisons involving top executives. The latest blemish on the waning reputation of the aero maker is the sentencing of four years to prison of the chief financial officer at Boeing, Mr. Mike Sears for secretly negotiating with procurement officer at the US air force to lease about 100 planes to be modified so that they can become tankers.
The investigations into this illicit deal have cost the government more than 2.5 million dollars. This is one of the most high profile corruption cases that would have cost the government and the taxpayers at large billions of dollars had the secret deal gone though. The public outcry towards the revelations was sharp and acerbic because it exposed the underbelly of Boeing which in the past has had a clean record shying away from various controversies that have tainted a variety of companies in the United States of America.
In 2003, Phillip Condit was forced to resign because of widespread criticism against Boeing because of unethical business practices in a series of ethical lapses that has hit the worlds leading aero maker. The resignation was as a result of a lawsuit filed by its competitor, Lockheed, that resulted in pentagon canceling contracts of more than $1 billion that were supposed to be awarded to Boeing and the company was also disqualified from making bids for defense projects for two years. This is because it was found out that the company had been spying on the competitor in a manner that was likely to affect the market presence of the latter.
These revelations also brought under scrutiny the tanker project that Boeing had a deal with the US air force. The pressure from the media forced the pentagon to review the deal actually at the negotiation stage. Two top executives had been sacked prior to the resignation of Condit. These top executive had been involved in human resource malpractices where underhand methods were used to hire some top accounting personnel in order to conceal some unethical accounting malpractices that would have seen the government lose billions in revenue from the multi billion dollar aero company. A few months later, the CEO who took over from Condit was also forced to resign after an illicit sexual liaison with a junior female staff that brought the reputation of the company down. Harry Stonecipher did not even make a year at the helm of the embattled air craft manufacturer before he was forced out because of an improper relationship with the female officer. Though the relationship did not have an impact on any business of the company, the revelation of the relationship with the executive young enough to be his daughter is enough to dent the image of the company already grappling with bad publicity due to an upsurge of unethical behaviors.
A CEO is supposed to be the one leading in upholding any ethic that is laid out by the company and the conduct of Mr. Stonecipher, did not reflect that of someone who is supposed to lead the way in ensuring that high levels of corporate ethics are followed in the company. It is also a bad example to the young members of the public who are looking up to influential figures like Mr. Stonecipher for motivation and inspiration. The public expects a person holding the position like that to be of unquestionable integrity and ethics and morality which means that Mr. Stonecipher has terribly failed the test and as such cannot be entrusted to hold such a position of public importance. These ethical lapses have brought down the credibility of this are manufacturer down and there has been a lot of media and public scrutiny on the corporate governance of the company. This because Boeing is a blue chip company, a trendsetter in the aviation industry and one of the historical industrial masterpieces in the United States. This means that this is a pride of the nation and any bit of negative development is bound to raise public outcry.
There is the accepted code that the CEOs and the top executives of the company were supposed to adhere to that they did not. Staring with the cancelled deal with the US air force, the CEO was supposed handle the deal in a manner that does not betray the corporate image of the company. However, the CEO decided to use underhand methods of spying onto the operations of its main competitor thus compromising it’s the company’s image that is supposed to be without blemish (NY Times,2003). There is no problem if the US air force decided to split the tender and award it to the two rival company but sending officers on an espionage mission to the rival firm in order to scrutinize all their business deals was a contravention of the fair play policy and raised questions about the credibility of Condit as a CEO who was supposed to lead Boeing out of the woods.
The move was cheap and tainted the image of the company in the public eye. The public who the company serves also expects the leadership of the company to be responsible and act in a way that would not have a detrimental impact on one of the biggest national symbols. A tainted image of a national symbol taints the whole nation and that is why high quality business practices and ethics are supposed to be upheld (Terry, 2009). The case involving illegal recruitment of accounting executives was a move that was supposed to hide the underhand and unethical accounting principles of the company that were geared towards tax avoidance and other forms of defrauding the government (NY Times, 2003). Once gain, corruption, whether in hiring or in accounting is a very unethical practice that the public does not expect from a company of Boeing stature. It is expected that the company should submit clean accounts fro public auditing but the revelations that illegal hiring were made in order to adulterate the accounts in bid to defraud the government is a stain on the company and that is why the top executives had to be sacked. At a time when the American public has become increasingly conscious of the gradually growing corruption cases in the country corporate and public realms, such revelations coming from a symbolic multinational are just too grave to contemplate (NY Times,2003). As a result of the string of ethical scandals that have hit the company in the recent years, the public confidence in one of Americas biggest exporters of technology has dipped to an all time low and this loss of confidence in the corporate governance can also affect the market share of the company because people will now start questioning the products of the company.
The public expects an all round perfection in any company that is in business because if the way the company is being administered is questionable, then even the process of making the goods or providing some services will be in doubt.(Garland,2009) In the mind of the public are a myriad of unanswered question because what has been unearthed about Boeing may be just a fraction of the rot that is in the company and this decay may compromise the company’s efficiency in providing the world class technology that is famed for. This will subsequently dent the competitive advantage that Boeing has been having internationally and giving its competitors space to catch up and even take its market share. The effect of this unethical behavior can be evidenced by the gradual dip of the share prices of the Boeing Company at the local stock market (NY Times, 2003).
Bibliography
Cossa, L, 2008, Commercial Law II, Willey, NY
Fitzgerald, S.R, 2006, Legal Perspectives in Commerce, OUP, Durban
Garland, O, 2009, Corporate Ethics, OUP, Oxford
Henry, J, U, 2004: The Australian Government, OUP, Oxford.
New York Times, 2003, Boeing: Scandal after Scandal, retrieved on 17th Jan 2010 .
Neil, P, 2009, Australian Constitution: The History, Harper and Row, London
Salanie, B, 2003, Australian Laws: economic perspective, CUP, Cambridge. .
Silverman, H.A, 2000, Tax avoidance, OUP, Canberra
Terry, E., 2009, Ethical Practices in Corporate Sense, Willey, NY
Terence, Y, 2004, Commonwealth Constitutions, OUP, Oxford.
Whitmore, B, 2009, Australian Laws, OUP,Canberra.
The Gramm-Leach-Bliley Act Financial Privacy Protection
The Gramm-Leach-Bliley Act is which in other words is known as the Financial Services Modernization act that began in 1999 and is now relevant in society today. The act itself was created for the United States to control and monitor the ways that financial institutions dealt with the private information of individuals. The passing of this act was important so that it could keep the individuals protected financially. Since the time that this act was been passed, while the intentions behind the act were positive, there are still many people who have their financial information compromised which is a significantly negative problem. This is something that affects our country today. The Gramm-Leach-Bliley Act comes in three different parts. The three parts of this act consist of the Financial Privacy Rule, The Safeguards Rule, and Protecting provisions. In addition, this act requires the financial institutions to give the majority of the clients a composed notice that was private which discusses the private sharing rule. The Gramm- Leach-Bliley Act, while it has a few downsides and problems of compromising, has very positively impacted the nation and the general security of customers from bank to bank. This increase in general security has caused our overall economic system to be strengthened and for consumer confidence to increase.
The Gramm-Leach-Bliley Act has had such an expansive effect on the United States. In the United States, people have become increasingly worried about their bank information being compromised. The process of customer information being compromised is individually one of the main reasons that this act would come into play. The United States could make a framework where individuals realized that without this law being passed, undesirable data would be shared, which exhibits an absence of protection. By giving clients their arrangement of trade, it secures the data the native does not have any desire to be shared. Many individual polls took place in which stated that consumers were growing increasingly unhappy with banks lack of concern with their privacy. Studies that were done proved the consumers unhappiness was concerned with the current bank standards of the level of privacy for their consumers. The Gramm-Leach-Bliley has changed our daily living in different ways because it began to cancel out laws that were instilled in the era of the Depression. The act now represents and supports money related exchanges in today’s day in age. Essentially, this impacts how banks, securities firms, and different kinds of monetary establishments could combine to offer their clients a more entire scope of administrations. Furthermore, this bill finds a way to revise a portion of the most exceedingly terrible misuse of the 1977 Community Reinvestment Act a confused exertion that constrained banks to put resources into distraught neighborhoods notwithstanding when it was not fiscally achievable and to give shoppers huge new insurances of individual money related information.
Despite the fact that it is as yet not an ideal blend of conceivable monetary administrations changes, this enactment speaks to the hugest deregulation of the budgetary administrations industry in finished 50 years.
This act specifically affects my life in more ways than just one. A portion of the reasons that this act influences my life alongside the majority of my family and friends is on the grounds that it is ensuring something that we as a whole utilize which is financial balances, account numbers, and routing numbers. Without these things our bank information would simply be at the hands of people we did not intend it to be in. People would continually have access to our information with no regulation without this act. Yet, this is something that is profiting everybody with a money related circumstance at the current time alongside organizations. With this in mind, the fact that we once did not have this act makes it clear to see that without it, it was incredibly hard to monitor money related situations. It truly proves to be useful when managing budgetary circumstances since you don't need to be over the greater part of your monetary circumstances.
Individuals may now simply get all that data from your bank which has every one of the records of what cash you deposited or withdrew along with the money that has been spent. In addition, if money was taken out from your bank account that was not your doing, then the act itself comes into play. The bank would then be responsible for letting this situation occur. The bank itself would then have to figure out what is going on and get to the bottom of it for their customers.
The Gramm-Leach-Bliley-Act, coming into play in the year 1999, has since changed the way that our banks protect the information of consumers. Following a couple of changes and rectifications along the way, it is still having a positive impact in the world and helping individuals' lives all over our country. The Gramm-Leach-Bliley Act, that is used to protect and keep our financial information safe, has exemplified and proved its need in our economic world to date.
Works Cited
Center, Electronic Privacy Information. “EPIC - The Gramm-Leach-Bliley Act.” Electronic Privacy Information Center, epic.org/privacy/glba/#reduce.
Neale, Faith Journal of Economics and Business, 2005.
United States. General Accounting Office. Financial Privacy : Status of State Actions on Gramm-Leach-Bliley Act's Privacy Provisions. U.S. General Accounting Office, 2002.
Topic Proposal
The Gramm-Leach-Bliley Act is relevant in today’s society. The act itself was created for the United States to control and monitor the ways that financial institutions dealt with the private information of individuals. The passing of this act is important to keep individuals protected financially. While this act was passed with good intention, there are still many individuals who have their financial information compromised.
In the United States, people became increasingly worried about their bank information being compromised. Many polls took place in which stated that consumers were growing increasingly unhappy with consumers lack of concern with their privacy. Studies that were done proved the consumers unhappiness with the current bank standards of the level of privacy they had about sharing unwanted information.
Center, Electronic Privacy Information. “EPIC - The Gramm-Leach-Bliley Act.” Electronic Privacy Information Center, epic.org/privacy/glba/#reduce.
This is a good source because the website really explains the importance of the Gramm- Leach- Bliley Act. It is a great college source because it explains the history behind the act and the privacy protection under the Gramm Act.
Neale, Faith Journal of Economics and Business, 2005.
I thought that this source would be useful for my paper because it discusses not only what the act is but how it can be harmful. As I said earlier, while the act was put in place with good intentions, there were some downsides. This is a good source for college because it is a scholarly source.
United States. General Accounting Office. Financial Privacy : Status of State Actions on Gramm-Leach-Bliley Act's Privacy Provisions. U.S. General Accounting Office, 2002.
I found this book through the WSU library and I found it to be very credible and release. This book discusses the privacy aid that was intended to come from the Gramm Leach Bliley Act and why it was meant to be a positive, protective thing.
Philosophy
↳ Political Philosophy
Ethics Code Analysis
Every organization must have a code of conduct regardless of the underlying legal mandate. A code of ethics has value internally as a guideline and externally as the statement of corporate values. A proper code of conduct clarifies the organization's mission, ideals, and principles and connects them to professional conduct standards (Kotzian et al., 2021). Moreover, a code of conduct articulates the morals that employees should reflect and creates in them the desired behavior. Values refer to "what we choose as worthwhile or believe to have merit in a general or broad sense […] are deep-seated ideas and feelings that manifest themselves as behavior" (Grigoropoulos, 2019, p.168). In essence, a code of conduct becomes the benchmark for measuring performance, both individually and organization-wide, and evaluating behavior.
Also, a code of ethics guides the organization's decisions, policies, and programs for business. An organization's ethical philosophy impacts its bottom line, productivity, and reputation. Ethics in an organization is crucial since unethical behavior costs a firm its reputation and profitability. To this end, the paper analyzes Morinda Corporation's Code of Ethics by focusing on the rationale for choosing the ethics code.
One of the reasons for developing the ethics code is compliance. Every business must adhere to the laws that regulate issues such as safety standards and hiring. Apart from setting guidelines for conduct, compliance-based codes also inform penalties in case of violation. Any law or regulation forms the rules that adhere to daily business interactions. Legislation such as the Sarbanes-Oxley Act (2002) mandates individuals who serve on boards and public company leaders to implement codes. Thus, it is imperative to develop company codes to conform to the national legal requirements. The Sarbanes-Oxley Act was a direct consequence of the infamous Enron scandal where executives falsified financial documents to gain selfishly (Calinovici, 2018). The law details what institutions must do. In this case, Morinda's Code ensures that the finance department provides complete and truthful records that align with the International Financial Reporting Standards (IFRS), as well as the Generally Accepted Accounting Principles (Gwardzinska, 2019). Notably, a comprehensive code of ethics enables an organization to have extra protection even if one employee commits fraud or other criminal acts while using the company's name. For instance, when a purchasing manager defrauds suppliers, the organization's Code of ethics will help convince the court that the firm did not endorse the behavior.
The Code is critical in building customer loyalty (Iglesias et al., 2020). Consumers will not let firms take advantage of them if they become victims of unfair treatment, such as overcharged products. The customers are unlikely to be repeat customers. A loyal customer base is a key to long-term business success since dealing with existing customers does not entail marketing costs compared to acquiring new ones. A firm's reputation for ethical behavior fosters the creation of a more positive image (Iglesias et al., 2020). The positive image can lead to new customers, primarily via word-of-mouth.
In contrast, having a reputation for unethical practices can damage a firm's reputation, hindering the opportunity to bring new customers. With the current era of social networking, dissatisfied consumers can quickly share information concerning their bad experiences with a company. Nonetheless, Morinda Corporation maintains a code of ethics that considers the treatment of customers to prevent such issues from occurring and ultimately damaging its reputation. For instance, the Code covers integrity and responsiveness, representing two vital aspects of customer interaction.
The ethics code promotes a positive work environment. Employees must remain ethical ever since their first job interview with the company. Employees must be honest concerning their
capabilities and experience. Essentially, others view ethical employees differently, as they perceive them as team players instead of individuals. Such employees develop positive relationships with their colleagues, and supervisors trust them with confidential details, often giving them more autonomy than others. Unethical employees expose themselves to limited chances of advancement in an organization. Another impact is dismissal. Extreme cases of unethical behavior include employee theft or fraud. The cost of unethical employee conduct is high. In sum, the codes promote a positive work environment for everyone.
Ethical codes also affect the organizational culture. Achieving this ideal requires a positioning process integrating ethics and corporate mission, ideals, and strategies. Ethical principles strongly impact social tenets. Therefore, alignment is pertinent to interactions as it defines interpersonal anticipations. The result is a principled organization that represents the desired one. Also, it leads to an enhanced internal and external relationship. All parties involved experience an excellent and consistent treatment that leads to the growth of an ethical culture. A fantastic opening awaits firms that are attentive to the moral observances integrated into the daily functioning of their business activities. Moreover, these ideas make Corporate Social Responsibility (CSR) the core of management (Grigoropoulos, 2019). They provide for employees' well-being while guaranteeing that all stakeholders profit.
A code of ethics entails a set of principles that intend to instruct professionals to behave in honest ways that benefit every stakeholder involved. A business drafts a code of ethics in a customized way to suit its specific industry and requires every employee to adhere to it. Failure to comply with an ethical code attracts several adverse effects to a company. The reasons for creating a code of ethics are numerous, including compliance, building customer loyalty, legal considerations, among others (Iglesias et al., 2020).
References
Calinovici, V. (2018). Can be the code of ethics an important piece of the big picture companies' puzzle? LUMEN Proceedings, 5(1), 40-48.
Grigoropoulos, J. E. (2019). The role of ethics in 21st century organizations. International Journal of Progressive Education, 15(2), 167-175.
Gwardzinska, E. (2019). Standardization of competencies and qualifications of customs representatives of the EU Member States. http://biblio.umsf.dp.ua/jspui/handle/123456789/3334
Iglesias, O., Markovic, S., Bagherzadeh, M., & Singh, J. J. (2020). Co-creation: A key link between corporate social responsibility, customer trust, and customer loyalty. Journal of Business Ethics, 163(1), 151-166.
Kotzian, P., Stöber, T., Weißenberger, B. E., & Hoos, F. (2021). Effective, but not all the time: Experimental evidence on the effectiveness of a code of ethics' design. Business and Society Review.
Critical Review of Literature
In several countries, particularly in the developing world, small and medium enterprises have a crucial role. The majority of enterprises globally contribute to Small and medium enterprises and are significant as sources of creating employment and increasing economic growth. They account for about 90 percent of enterprises and more than 50 percent of the world's largest workforce. In developing economies, formal SMEs potentially contribute to 40 percent of the overall GDP [CITATION The201 \l 1033]. Many formal jobs are created in developing economies by Small and medium enterprises, which generate 7 out of 10 jobs [CITATION The201 \l 1033]. In particular, in marketing campaigns, the massive rise and influence of social media have opened up new possibilities for marketing strategies, allowing SMEs to communicate with their customers effectively and factually at a cheaper cost and with more productivity than conventional communication channels [ CITATION \=allS \l 1033 ], especially during the pandemic period. However, acquiring financial services is a major hindrance to the Growth of Small and medium enterprises. It is the second most prevalent barrier for SMEs to expand their business in developing and developed countries. A multitude of issues and drawbacks are faced by small startups like Small and medium enterprises.
Small and medium-sized businesses are much less probable than large companies to be able to access debt financing; therefore, they depend on internal capital, or capital from family and friends, to start and effectively operate their businesses. The International Finance Corporation (IFC) reports that 65 million companies in developing countries, or 40 percent of established micro, small, and medium enterprises (MSMEs), have an unfulfilled funding demand of $5.2 trillion per year, corresponding to 1.4 times the existing amount of MSME borrowing worldwide [ CITATION The201 \l 1033 ]. Nonetheless, small business does have its own advantages. First, independence, Entrepreneurs are their own managers are. They make these choices and come up with strategies to run the business effectively and efficiently. They pick on whom to conduct business with and what task they're going to perform. As well as what to pay and when to take holidays, they determine what days and hours to function. The independence to manage their future would be enough for most business people to overshadow the possible risks [CITATION Rua18 \l 1033].
Secondly, SMEs ensure financial gains for most small businesses. The entrepreneurial activity provides a better opportunity than working with others to receive substantial financial benefits. Possessing a personal company eliminates the salary limitation when people are workers in other companies, especially when they are not paid well. Most startups are motivated by the giant entrepreneurs they see nowadays, including Bill Gates, Mark Zuckerberg, Jeff Bezos, and Warren Buff et [ CITATION Rua18 \1 1033 ]. Although reaching the global market takes time, most startup entrepreneurs are motivated by successful business people who began as SMEs, therefore forming a significant step towards financial gains as self-employed employees. Other than that, it ensures a sense of control over the entire business process since the launching stage. It allows one to engage in the company's total activity, from idea to model to the formation, through marketing to business processes to customer response. Small business owners who are motivated by enthusiasm and imagination and have a "dream" of what they plan to accomplish, this capacity to be completely absorbed in the company is very rewarding [ CITATION Rua18 \1 1033 ]. This degree of engagement enables the company owner to really construct everything of their own, which gives them a chance to implement their own strategies and form business policies to ensure their business's smooth functioning.
Thirdly, small and medium enterprises give the owner a sense of privilege. This provides the prestige of being the individual in command. The definition of becoming the owner attracts most entrepreneurs. Furthermore, however, there is the dignity and modesty of possession. When someone says, "Who was doing this?" "The businessman might respond, "I did." thus, giving them the status of being in charge [CITATION Han14 \l 1033]. Furthermore, they ensure equity since they offer a person the chance to create equity that can be preserved, transferred, or handed along to the next generation. Owning several companies across their lives is not unusual for entrepreneurs. They build a business, manage it for a while and sell it to somebody else afterward. To fund the next business, the revenue from this transaction could then be used. The main goal can be to create something that could be transferred on to their children to help secure their economic future if they are not eager to sell the company. One thing is sure: people need to be the owner to enjoy the economic advantages of a business enterprise truly [CITATION Lib13 \l 1033].
Also, it offers various opportunities to business owners and the community as a whole; for instance, the entrepreneurial activity provides a chance for an individual to make a difference. Most small entrants boost the country's industry. Several benefit societies as a whole by their inventions by providing employment opportunities, taking part in environment rehabilitation programs, and youth empowerment campaign. However, they often face a range of risks and drawbacks within their tasks, such as time commitment. When anyone starts a small business, it is possible that they will have limited staff, at least at the start. This leaves the person with all of the obligations and responsibilities. Owners of small businesses report working over eighty hours per week, managing everything, including buying to accounting to marketing. This dedication to time will burden friends and family and contribute to the pressure of beginning a new commercial enterprise [CITATION Kar20 \l 1033].
Subsequently, even though the enterprise has been designed to mitigate the founder's potential liability and risk, risk cannot be eliminated completely. For example, if a person leaves a stable job to pursue a business dream and the company fails, it may be difficult to resolve this financial setback. Business owners have to understand the danger of product liability, staff disputes, and compliance standards alongside liquidity loss [CITATION Loa19 \1 1033].
Additionally, while the enterprise may be competitive at the outset, external factors like economic recessions, new competitors entering the marketplace, or changes in customer preferences may prevent enterprises' progression. It would never be possible for even entrepreneurs who go through a rigorous preparation phase to predict all the future changes in the market world [CITATION Rua18 \l 1033].
Apart from those, the financial commitment is another major issue impacting small and medium-sized businesses [CITATION Sim19 \1 1033]. It takes a certain amount of money to set up even the smallest of business projects. For several individuals establishing startups, personal savings, pensions, or retirement savings are their key capital sources. Commitment to a commercial enterprise with these types of funds makes them inaccessible for personal or family requirements. In several situations, if a small business seeks startup financing via credit, the businessman must protect the loan by promising personal properties, such as a house [CITATION Kar20 \l 1033]. Comparatively, since the major limiting issue affecting most small and medium-sized businesses is access to adequate financial services, improving SMEs' access to financial services and seeking creative ways to access financial capital is a main area of the World Bank Team project. In order to maximize the impact that SMEs can contribute to the various sectors of economy, especially underserved sections, including women-owned SMEs, their strategy is comprehensive, incorporating consultancy and loan services to clients [ CITATION The201 \l 1033 ]. Advisory and Policy Support for SME finance typically involves diagnostic procedures, assistance for implementing the business, international support, and exchange of good practice expertise [CITATION The201 \1 1033].
For instance, the world bank is focusing on providing the following as a remedy for mitigating challenges experienced by SMEs; Supporting the introduction of policies such as establishing conducive conditions, developing and setting up credit guarantee systems.
Improving the credit systems, which involve credit reporting programs, protected payments, collateral registers, and bankruptcy regimes can contribute to increased financial inclusion for SMEs [ CITATION Holl 7 \l 1033 ]. The implementation of technologies in SME financing, such as e-credit systems, the use of e-invoicing, alternative credit decision data, funding of the production process, and e-factoring [ CITATION The201 \1 1033 ]. Additionally, ensuring the financial sectors' evaluation to define areas for change in legislative and compliance contexts, allowing improved access to financial services for proactive SMEs. In consideration of SME finance operations, policy analysis, technical assistance, and other advisory services may also be offered. Resources and flagship articles for knowledge management on continuous improvement, effective models, and policy structures can be given to startup SMEs to motivate them [CITATION Rua18 \l 1033].
Conversely, Outreach for sustainable SME finance via membership and sponsorship of the Financial Stability Board, the G20 Global Partnership for Financial Inclusion, and the International Credit Committee for Credit Reporting on SME Finance issues [ CITATION The201 \l 1033 ]. Other recommendations include; first, Early Stage Innovation Funding is applied to ensure debt and equity or quasi-debt for the startup or high-growth businesses that otherwise would not be able to access credit facilities. Secondly, implementing Partial Credit Guarantee Schemes (PCGs) since the implementation of Partial Credit Guarantee Schemes is integral to SMEs' survival, and funding for such services' design and capitalization can be given by the government or the global monetary services. This would make it easier for SMEs with poor sustainability and collateral to access funding services. It will establish a comprehensive environment for the growth and advancement of exports, as well as the growth and promotion of SME startups for local and overseas services [CITATION HonlO \l 1033]. Lastly, SME Lines of Credit to provide dedicated bank funding ensures that SMEs often have longer tenors than are commonly commercially available to positively influence investment development, diversification, and export [ CITATION The201 \l 1033 ].
Therefore, it can be concluded that regulatory enforcement, supply chain management, human resources, and credit access are listed as essential aspects of operating most small and medium-sized enterprises. The results indicate that performance is a multifaceted process. All contributing factors have to be taken into account and approached concurrently to ensure that startups and existing SMEs have a favorable atmosphere for their sustainability.
Critical Appraisal
The definition of learning styles is commonly used to explain how learners collect, filter through, view, process, draw conclusions, and store knowledge for future application. Learning style preferences relate to typical attributes and expectations in the methods individuals take in and interpret information. Most of the main models for understanding learning preferences are integrated into learning styles. They are structured to be used by college and university students to self -test their learning preferences. The concept of learning styles started in the 1970s, where students have unique, personalized learning styles that function better for them, asserted by a growing body of literature and sector. Considering the variance in categories of Learning styles and preference. The underlying concept regarding learning styles remains the same: each person has a particular learning style or preference, and they understand it better when knowledge is delivered in this style. For instance, if visual learners are provided graphically or by other aspects of digital images, kinesthetic learners will learn any subject at hand better if they could include facial expressions in the learning process. The main three Learning styles and preferences include; Kalb's Model, Honey and Mumford Learning Styles, and YARK Model.
Kalb's experiential learning theory operates on two dimensions: a four-stage learning cycle and four different types of learning. Most of the theory of Kolb is associated with the intrinsic cognitive abilities of the learner. Kolb notes that learning requires the development of abstract principles that can be implemented intelligently in various contexts. Unique ideas establish inspiration for the emergence of new ideas in Kalb's theory [CITATION Sau17 \l 1033]. Usually, Kalb's theory of experiential learning styles is determined by a four-stage learning process, which includes; first, Reflective Observation of the New Experience of any contradictions between perception and comprehension that are of special significance. Secondly, concrete experience represents an emerging experience or circumstance encountered or a restatement of existing experience. Thirdly, Abstract Conceptualization requires contemplation that gives rise to a new idea or a shift in an established abstract idea that the individual has developed from their knowledge. Lastly, active experimentation in which the learner incorporates their theories in order to see what occurs to the world within them [CITATION Saul7 \l 1033].
Comparatively, when a student goes through a period of four phases, effective learning can be evidenced: having a particular experience preceded by analyzing and reflecting on that experience that contributes to the emergence of abstract ideas analysis and assumptions that are then included in subsequent situations to formulate a theory, giving rise to new encounters.
Kalb's theory considers studying as an interlinked cycle, with each stage simultaneously supporting and developing into the subsequent step. At any point, it is possible to join the cycle and follow it through its logical series. Successful learning, however, only happens when a learner can execute all four phases of the design. Consequently, often no phase of the process is successful as a learning process [CITATION Saul7 \l 1033].
In comparison, Peter Honey and Alan Mumford defined learning styles centered on Kalb's research and provided various different learning styles or preferences: activist, theorist, pragmatist, and reflector. These are the four learning styles that people naturally choose, and they suggest that each learner should consider their learning style and pursue the chance to engage using that style to maximize their own personal learning. Honey and Mumford have created a Learning Style Questionnaire for learners to achieve their specific learning style, and they will be in a much better place to do three significant things with this knowledge [CITATION Hon82 \l 1033]. First, be sharper at finding a better match between the opportunity for education and the way they perceive effectively. It makes their education smoother, more productive, and more rewarding. Secondly, the bandwidth of interactions from which their self efficacy can be extended. Becoming an all-around student enhances their flexibility and allows them to learn from a broad spectrum of formal or informal interactions, some scheduled and some unintentional. Lastly, it enables learners to enhance their learning abilities and strategies. An adequate understanding of how students study sets new personality and change in the entire phase. Continuous learning is the most significant skill of learners because it offers the key to anything else they would like to build [CITATION Hon82 \1 1033].
In contrast, there are several unique ways to classify learning types, but one of the most common is the YARK model by Neil Fleming. In 1987, Fleming launched a model that was aimed to assist learners and others learn more concerning their individual learning preferences. The YARK model of learning styles indicates that the primary kinds of learners are: first, kinesthetic learning based on hands-on activities, experiments, and movement. Secondly, reading and writing, for instance, reading textbooks, making lists, and taking notes. Students of reading and writing learning styles tend to learn effectively if the information is presented as text and words. Thirdly, visual learning is based on diagrams, movies, and pictures. Visual learners tend to see knowledge portrayed visually instead of writing for this form of learning. Lastly, auditory learning centered on lectures, discussion, and music. Via hearing knowledge, auditory or aural learners prefer learning. They seem to get a lot out of learning sessions and are excellent at recalling information they are taught [ CITATION Ken191 \l 1033 ].
Besides learning style concepts, the relevance of the YARK design has been widely challenged and criticized. Some commentators have argued that it may potentially be a major obstacle to learning to mark a person as having a certain preferred learning style. Despite these critiques, the YARK model is particularly reasonably common both among teachers and learners. Learners may appear attracted to a specific learning style. Others can notice that their learning styles reside somewhere in the process, like considering combining auditory and visual learning highly competent [CITATION Ken191 \l 1033]. If a person has no particular learning style or may switch preferences depending on circumstances or the type of data they are studying. They possibly have what is regarded as a multimodal preference. Nonetheless, Learners might consider that it can be beneficial to understand their own style of learning. If they acknowledge that auditory learning attracts to them more than other learning preferences, it could enable them to recall and appreciate their learning more by using auditory learning techniques combined with other learning styles like reading and writing.
Educational researchers have established various typologies of diverse learning styles to support teachers in successfully engaging each learner in their classroom to ensure that the learning process is efficient, beneficial, and desirable to the learners. It is upon the learners to conform to the most appropriate preference of learning that suits them. However, since some learners can excel well with diverse learning styles; they do not suddenly indicate that they should really be associated with multiple learning preferences in certain instances. While the modern cultural setting has enabled multimodal learning simpler than before, studies have suggested considerable precaution and consideration when incorporating digital instructional material into the curriculum. Multimedia should be viewed carefully as a tool to an appropriate teaching purpose instead of an objective on its own. More complicated topics and capabilities should be designated for multimodal, interactive teaching than simply remembering.
It can be concluded that learners can be categorized as complex in people with distinct learning styles, personality types, cognitive preference, attitudes, and attitudes towards learning. As a result, students have different mechanisms of learning and comprehending different information they come across. Every person has a unique and reproducible preferred method of retention, organization, and perception. Such uniqueness is based on personality types and preferences. Some learners will prefer to understand information effectively if presented via audio, while others will like it better if they read it visually inform if pictures. These learning preferences and styles serve as a better signal of how students interact with learning materials, respond, and perceive the learning environment. Also, learners do not solely rely on a single learning style, but they usually have a preference for either one or two, depending on the situation. By acknowledging their specific learning style, they can use their learning preference to realize their weakness and strengths of each style.
References
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Han, L. B. (2014). The use and impacts of bank support on UK small and medium-sized enterprises. International Small Business Journal, 32(1), 61-80.
Hollender, L. Z. (2017). SME foreign market entry mode choice and foreign venture performance: The moderating effect of international experience and product adaptation. International Business Review, 26(2), 250-263.
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Honohan, P. (2010). Partial credit guarantees: Principles and practice. Journal of Financial Stability, 6(1), 1-9.
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McLeod, S. (2017). Kalb's Learning Styles and Experiential Learning Cycle. Retrieved from www.sirnplypsychology.org: https://www.sirnplypsychology.org/learningkolb.htrnl#: :text=Kolb%20explains%20that%20different%20people,cognitive%20structure%20of%20the%20individual.
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Information Science and Technology
↳ Modern Technology
Geographic Information System Essay
Buffers are terminologies that are used to refers to regions of storage that are used in holding information or data temporarily while being moved from one location to another. One of the most significant features of buffers is the determination of method parameter in determining how buffers are created. Buffers can be constructed in two basic methods being Euclidean and geodesic, where Euclidean is used in measuring the distance in a double dimensional Cartesian plane. They work best during the analysis of the distance on projected coordinate system features. For the geodesic buffers, their functionality comes during accounting for the earths actual surface. The geodesic features are created when considering input features dispersed. They are also used when the preservation of properties such as area during spatial reference of input features are of distorting distances.
During buffer creation, there are two major formats that are offered. The parsed data stream that is normally from the parse process. Parsed data refers to a data string transformed to a different set type. For instance, when it is received in HTML format, the parser will be able to convert it into a more understandable and easily to read type. The data stream is composed of parsed XML document and the header. While parsing the XML document, it is read and an interface provided for the user to access the documents.
Briefly discuss what Model Builder is, including the following topics in your discussion:
Why Model Builder provides a graphic template
What models created in Model Builder allow users to do
What scripts are, and what they can be used for.
Geoprocessing workflows are built using programming languages that are known as Model builder. Spatial analysis is always documented and automated using geoprocessing models. It is used in creating and is modification of the models interpreted as a diagram linking process sequences together and geoprocessing tools, whilst utilizing one process' output as another process input. Some of the benefits of model builders include its ease of use in the creation and workflow Runnings. It also enables creation of tools that can be used in python scripting.
Graphic templates can be taken as features that have been created for particulate uses that are meant to save designers time and an able proper flexibility while editing. The graphic templates normally contain text colors and images that that are in most cases appealing to the eye (Esri, n.d). The graphic templates are used in illustration of tools and variable elements. Further more, the readability of the model is enhanced through the diagram properties, display properties and the pictures for the elements and label to document.
The models built by the model builder has many functions to the user. Some of the most specific functions include the following. They have the ability of selecting different layers by their attributes. Through the buffer, they can help create an area within 1500 feet distance around specified areas (Esri, n.d). They can also help the user erase the buffer area within the selected zones. Finally. They have the ability to intersect, in that they can help in overlaying the erase tool output with different layers hence ease in identification of areas meeting the needed criteria.
Script is a command lists that is executed by scripting engines on certain specific programs. Their major functions are in generation of web pages or process automation on local computers. A typical example is Dos script that maybe utilized in process running in windows computers (Christensson, 2006). Macintosh machines may make use of apple scripts. When describing script files, they can be termed as documents containing instructions that are written in a scripting language. With that the overall implication is that majority of the scripts can be edited or opened using basic text editors.
References
Christensson, P. (2006). Script Definition. Retrieved 2021, May 5, from https://techterms.com Esri, (n.d). Fundamentals of Model Builder. Retrieved from, https://proceedings.esri.com/library/userconf/cahinvrug09/papers/tech- workshops/arcgis_desktop_fundamentals_of_using_modelbuilder.pdf
Esri, (n.d). How Buffer (Analysis) works. Retrieved from, https://pro.arcgis.com/en/pro- app/latest/tool-reference/analysis/how-buffer-analysis-works.htm