Women constitute around half of the total world population. They are therefore regarded as the better half of the society. In traditional societies, they were confined to the four walls of houses performing household activities. In modern societies they have come out of the four walls to participate in all sorts of activities. The global evidences prove that women have been performing exceedingly well in different spheres of activities like academics, politics, administration, social work and so on. Now they have started plunging into industry also and running their enterprises successfully. Although small businesses owned by women have traditionally focused on fashion, food and other services sector, but recently women entrepreneurs have been moving rapidly into manufacturing, construction and other industrial filed. Women owned business are lightly increasing in the economics of almost all countries. The hidden entrepreneurial potential of women have gradually been changing with the growing sensitivity to Continue reading
Business Articles
Why Businesses Fail to Manage Ethics in the Workplace?
The majority of the company including international and local organizations starts to alert and concentrate on the importance of business ethics between managements and employees. One of the major challenges in business ethics is creating a safe environment where all employees or workers can raise their concerns about possible misconduct and wrongdoing. Business ethics has been an essential but difficult subject to handle. Many business organizations recognize the importance of business ethics but do not give it due attention. One the contrary, some organizations have simply provided the fundamental business ethic course which involves learning what is right or wrong and doing the right thing. In the reality, some of the organizations have failed to manage the business ethics in the workplace. The major elements which affect the business failure mainly identified and divided into six different types of categories including gender diversity, sexual harassment, lack of communication, age discrimination, Continue reading
Importance of Ethics in Business Management Practice
To put in simple words, ethics is the principle of moral values which helps you to take actions that are considered as the right thing to do. However, doing what is ‘right’ is not that straightforward. Since everyone has different backgrounds and cultures, we therefore possess different conceptions and perceptions. This causes complication in the process of understanding the meaning of ethics as each person’s point of view on what is ethical varies significantly. Ethics is not a set of rules that should be followed inevitably but is a guideline to lead you to behave with integrity. It includes values such as equity, responsibility, honesty, and fairness. The importance of ethics can be seen from the fact that many of what were considered as ethical behaviors in the past has developed into law today. For example, stealing is known as an unethical act and is against the law as it Continue reading
Arguments For and Against Social Responsibility of Business
Business entities should pay attention to the welfare of workers, consumers needs and their security, the well-being and privileges of creditors, government regulations and the obligations of the enterprise towards the social order as a whole. Nowadays, numerous organizations are concerned about social activities and are playing an active role in the same. While the outlook of the society have transformed, companies have become further conscious of their social responsibilities. A cautious analysis of opinions for and against the participation of organizations in social welfare activities is essential to conclude whether an organization should employ social programs. Arguments Favoring Social Responsibilities of Business The needs of present day customers have changed, ensuing in a change in their outlook of businesses. As businesses oblige their profits to humanity, they have to thus counter to the needs of the society. Society and business gain mutual advantage when there is a symbiotic association Continue reading
The Meaning and Essence of Leadership
Leadership is a process of influencing the behavior of other people to work willingly towards the achievement of organisational goals. It involves existence of a leader and followers. So leadership is an exercise to influence the behavior of the followers towards attainment/achievement of specified goals. Here the person who guides or directs his followers is known as leader. Leadership is a process of influence: Leadership is a process whose important ingredient is the influence exercised by the leader on goup members. A person is said to have an influence over others when they are willing to carry out his wishes and accept his advice, guidance and direction. Successful leaders are able to influence the behavior, attitudes and beliefs of their followers. Leadership is the function of stimulation: Leadership is the function of motivating people to strive willingly to attain organisational objectives. Leaders are considered successful when they are able to Continue reading
Different Types of Stakeholders in Business
Stakeholder is a person who has something to gain or lose through the outcomes of a planning process, program or project. Stakeholder Analysis is a technique used to identify and assess the influence and importance of key people, groups of people, or organizations that may significantly impact the success of your activity or project. Stakeholder Management is essentially stakeholder relationship management as it is the relationship and not the actual stakeholder groups that are managed. Stakeholders can be divided into inside stakeholders and outside stakeholders. Inside stakeholders are people who are nearby to an organization and have the strongest or most direct claim on organizational resources: shareholders, executive employees, and non executive employees. Shareholders are the owners of the organization, and, as such, their claim on organizational resources is often careful to the claims of other inside stakeholders. The shareholders’ donation to the organization is to spend money in it Continue reading