6 pages/≈1650 words
Business & Marketing
ETHICAL ISSUES AND THEIR EFFECTS SMALL AND MEDIUM SIZE BUSINESS (Case Study Sample)
Introduction: A brief paragraph that states succinctly the most significant, key issues raised by the case. Analysis: Respond to each of the questions/issues listed below. Justify the answers you provide. Your report should recognize, integrate, and cite relevant theories, concepts, and ideas from the required course readings and from Discussions activities. Do not restate the facts of the case. Assume that the reader knows the facts. -What are the major social, ethical, or legal challenges that Kitchen Best and other small- and medium-sized enterprises (SMEs) face doing cross-border business? -Kitchen Best has a culture of offering entertainment and kickbacks to potential clients and business partners. What legal risks does this pose to the company in a cross-border setting? -What are some shortcomings of the management and governance systems of Kitchen Best? What kind of mechanisms should Kitchen Best put in place to prevent unethical behavior and to strengthen internal controls? What can Henry Chan learn from the U. S. Foreign Corrupt Practices Act (U. S. FCPA) or the U. K. Bribery Act? -Many of the problems at Kitchen Best are related to Horatio Sze and Ma Luk. Where has the company gone wrong in managing its staff? -You read about Siemens in DRS, watched the video on global ethics, read about the U. S. FCPA and the U. K. Bribery Act. Are top managers responsible when corruption is afoot? -Why is it important for SMEs to practice ethical management? How can Henry Chan enhance his role in this regard? - What would you advise your staff to do when faced with local expectations of “payoffs” or “referral money”? Where would you go for guidance, either within or outside your company organization? In the absence of guidance, what would you do? -Suggest specific steps Henry Chan can use to help build its corporate culture for the long term benefit of the company. How will the actions you recommend to mitigate or eliminate the problems you have identified in your analysis of this case? Conclusions and Lessons Learned: -What lessons do you take from your analysis as a current or future manager or leader in an international kitchen_best.pdf source..
ETHICAL ISSUES AND THEIR EFFECTS SMALLANDMEDIUM SIZE BUSINESS
Name of lecture
Kitchen Best Appliance Company LTD. Is a home appliance manufacturing company that is based in the mainland Hong Kong with mother manufacturing plant located in Guangdong province. The company was founded by a popular Hong Kong business kingpin known as Chan Dong Hwa. In the 2008 fiscal year, Chan Dong handed over the management of the firm to his son named Henry. Henry was very ambitious and embarked on a revamping process of the firm so as to diversify its business outlets and broaden its revenue channels. These ambitious targets were aimed to double revenues in the next four years.
Henry being a man of controversies altered the company's objectives into his personal gain's agenda. His plan suffered a huge setback in 2010 where a number of incidences and occurrences in the company's business revealed personal gains made at the pretence of the company's objectives. Such instances included his misconduct that undermined the company operations and belittlement of the management as most decisions were made without due consultations. Ethical issues are relevant for the success of any going concern and it is very prudent for any CEO to be very vigilant so as not to upset the social responsibility of the firm for scrupulous financial gains. As a CEO, Henry was tasked with the responsibility of putting his messy house in order so as to decide what kind of internal control mechanisms that would ensure the future stability of his crumbling firm.
Major, Social, Ethical and/or Legal Challenges that Kitchen Best and other Small and Medium Size Enterprises Face in doing Cross- Border Business.
Light industry has been the mainstay for Hong Kong industrialization. The industrialization campaign began in the early 1950s. The industrialization process has relied on light industry and Small and Medium size business mostly because Hong Kong has insuffi...
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