Differentiate between indirect financial compensation from wages and salaries
Differentiate between indirect financial compensation from wages and salaries
DQ1
Please select ONE of the questions below to answer:
–Differentiate between indirect financial compensation from wages and salaries. Why are decisions about indirect compensation decisions more complex than decisions about other forms of compensation?
–Can employers pay out the pension benefits they have promised? If they can’t, what should be done for retirees who are left without their pension benefits?
–What is meant by the term mandated benefit? Describe government-mandated benefits. What are the advantages and disadvantages of each?
–What three general types of benefits do most medium-sized and large firms provide voluntarily? Describe each briefly.
n your answers please draw from your own professional experience and provide examples from your own life, either as a leader, helper, employee, or observer. Review the reading, draw from your own ideas, examples or experience– and conduct some additional research as needed.
DQ2
The topic of Ethics continues to increase as an issue of central importance to strategic planning. Corporate Social Responsibility and Environmental Sustainability are significant topics that are figured into any substantive discussion of Ethics in contemporary business practices and strategy. In this discussion, you need to investigate the topic of conscious capitalism, conscious business, or businesses with a conscience. Tell why the issue of conscientious business is significant; and, tell where this current theme is headed in a global application, if possible. Tell why this topic should be discussed in the context of strategic planning. Resources to enhance your understanding of this topic may be found in the APUS online library.
R1
Hello class, this week I decided to focus my discussion around conscious business. As a part of strategic planning & where the world is heading regarding corporate social responsibility (CSR) and environmentalism, it’s essential to understand as a leader, where your organization stands among these topics. A question I would propose to various leaders would be, “is the reason your organization exists truly beneficial to society or the environment? If so, why or why not? & if not, how do you intend to address that?” Leaders should be prepared to answer that sort of question & it’d show their progression to conscious business.
Over time, businesses have progressed into an unifying mindset that aligns with the means to make a profit, while also playing a role in CSR & doing their part to minimize impact to the environment. I’ve used this example in a previous class before, but GE is a great example here. They vowed to make sure that all their manufacturing plants run off of renewable energy. Not only do their products and solutions provide great value in various markets, but they understand their ability to impact the environment & have made large steps to mitigate it as well.
According to Dunbar (2020), “conscious business is a company that does no harm, has a holistic awareness of the impact of its actions, continually strives to do better, and addresses at least one social or environmental problem through its business model or operations” (para 3). With my example above, GE is a spitting image of what conscious business planning should be. If organizations can follow suit, essentially their ethics and choices would not be in question. Dunbar states (2020), “that conscious business practices lead to better employee retention, more innovation, better customer loyalty, and increased revenue.” When looking at the bigger picture, this planning & practice creates a well motivated culture and fosters innovation. By doing this, it will create more opportunity to capitalize on CSR and environmentalism, while not losing sight of the end goal, which is to make a profit and sustain business.
Thank you all for taking some time to read my post. I look forward to reading your responses & getting back to you when I can!
Take care,
Joshua Dyring
References
Dunbar, M. F. (2020, July 23). What is conscious business, and why is it important?Meghan French Dunbar. Retrieved January 24, 2023, from https://www.meghanfrenchdunbar.com/blog/what-is-conscious-business-and-why-is-it-important
R2
Hello Everyone,
This weeks’ discussion topic on ethics and the rise of conscientious businesses is a growing interest as recent generations have become more concerned about these issues. They are the conscientious consumers who pride themselves on making decisions that enhance environmental sustainability and choose to buy from companies who espouse the same ethical viewpoints. For new and existing companies who are looking to expand their market share and rebrand themselves, focusing on the principles of corporate social responsibility during strategy development is one way to do so. Studies show that such businesses who incorporate statements of higher purpose, a commitment to ethics, and encourage healthy corporate cultures can distinguish themselves from their competitors (Conaway et al., 2018, p. 113).
In foreign markets it is important to ensure that the company acts at all times in a socially responsible manner. Several companies have come under fire from consumers by following practices, that although considered legal in a foreign country, are considered illegal and or unethical practices in the United States. Such errors are generally not accidents, and are especially egregious for particular consumers. These incidents breed widespread public criticism and can inflict a huge blow to companies in terms of goodwill with consumers and market position (Conaway et al., 2018, p. 115). Earning back consumer trust is a long and difficult road. Even if the mistake was innocent, not being transparent in such situations can also trigger negative consequences.
The elements of corporate social responsibility and environmental sustainability should be discussed, considered, and integrated into a company’s overall business strategy. Ensuring these principles are integrated into strategies at all levels helps unify the organization, provide a method of quality assurance, and provides the environment for a culture centered on ethical decision making (Conaway et al., 2018, p. 118). Reinforcing these ideals in multiple ways and at multiple levels helps all employees in making the correct decision and may also help the organization to learn from previous mistakes during the process of crisis management. To grow in today’s market, it is imperative to understand the growing consumer sector of those who are “more environmentally centric, health-conscious, and more sensitive to philanthropic causes” (Conaway et al., 2018, p. 119). In the international sector you must also consider the culture and ethics inherent in your intended consumer market and balance those against organizational standards to make the best decision possible that aligns with corporate strategy.
Thank you for taking the time to read my post and best of luck in the course!
-Kristen
Reference
Conaway, R. N., Regester, K., Martin, S., Nixon, C., & Senior, B. (2018). Amazon Whole Foods: When E-Commerce Met Brick-and-Mortar and Saved the Brand of Conscientious Capitalism. Journal of Marketing Development and Competitiveness, 12(3), 112-122. http://ezproxy.apus.edu/login?qurl=https%3A%2F%2Fw…
R3
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