Tag: importance

The importance of ethics in business – Ethical business practices – Cadbury Schweppes #internet

#ethics in business

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Ethical business practices
A Cadbury Schweppes case study

Page 1: The importance of ethics in business

Ethics concern an individual’s moral judgements about right and wrong. Decisions taken within an organisation may be made by individuals or groups, but whoever makes them will be influenced by the culture of the company. The decision to behave ethically is a moral one; employees must decide what they think is the right course of action. This may involve rejecting the route that would lead to the biggest short-term profit.

Ethical behaviour and corporate social responsibility can bring significant benefits to a business. For example, they may:

  • attract customers to the firm’s products, thereby boosting sales and profits
  • make employees want to stay with the business, reduce labour turnover and therefore increase productivity
  • attract more employees wanting to work for the business, reduce recruitment costs and enable the company to get the most talented employees
  • attract investors and keep the company’s share price high, thereby protecting the business from takeover.

Unethical behaviour or a lack of corporate social responsibility, by comparison, may damage a firm’s reputation and make it less appealing to stakeholders. Profits could fall as a result.

Along with good corporate governance, ethical behaviour is an integral part of everything that Cadbury Schweppes does. Treating stakeholders fairly is seen as an essential part of the company’s success, as described here: ‘A creative and well managed corporate and social responsibility programme is in the best interests of all our stakeholders – not just our consumers – but also our shareowners, employees, customers, suppliers and other business partners who work together with us. *’

Ensuring that employees understand the company’s corporate values is achieved by the statement of ‘Our Business Principles’ which makes clear the behaviour it seeks from employees.

Cadbury Schweppes’ good practice was recognised when it was voted one of the ‘most admired companies for community and environmental responsibility’ by Management Today magazine in 2003. It was also ranked second in the Food and Drink sector in the Business in the Community ‘Per Cent Club’ Index of corporate giving for 2003, with an investment in the community of around 3of its UK pre tax profits.

* Cadbury Schweppes Corporate and Social Responsibility Report 2002

Cadbury Schweppes | Ethical business practices





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Boston Business Journal: The importance of workplace culture #business #development #manager

#boston business journal

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The importance of workplace culture

​The importance of workplace culture

An employer’s perspective, as shared by William K. Bacic. New England managing partner, Deloitte LLP

It’s no secret that workplace culture has become one of 2016’s hottest topics for business leaders. Research shows that workplace culture drives not only behavior, but also plays a major role in innovation, and customer service. In terms of specific numbers, 82 percent of the respondents to the Deloitte Global Human Capital Trends 2016 survey believe that culture is a potential competitive advantage for employers. Equipped with that knowledge, it is nearly impossible to overstate culture’s importance, especially when thinking about not only recruiting and retaining talent, but also in meeting business goals.

Knowing just how crucial of a role culture plays, we, as business leaders, should consider doing all that we can to help foster a culture where professionals thrive. A step in the right direction may require that business leaders recognize the importance of culture, and give it the attention and investment it deserves. Executives should consider working with HR to help take responsibility for culture, and support it through both a measurement process and infrastructure.

However, that challenge, like many others, is often easier said than done. To start, we leaders should visibly prioritize culture in our organizations. That means clearly understanding the values of our companies, and how they affect business strategy. We should help shape the company’s value and make sure that we are leading by example, and reinforcing the desired culture. For example, at Deloitte, we are committed to making an impact that matters in the communities where we live and work. I enjoy taking an active role in my community, whether that is serving on nonprofit boards, hosting events in our office, or volunteering.

As executives, we should also consider examining the current culture at our organization, and determining whether or not that is the culture we desire.

That means taking a close look at our organizations and not only identifying those practices that align with the desired goals, but also taking note of practices that may require some change.

From there, it is up to leaders to help ensure this new culture becomes permanent. We should serve as an example of the new culture, and become cultural ambassadors for our organizations. Whether that means volunteering in your free time, avoiding email on weekends, or remaining offline while on vacation, leaders should consider embodying the culture of the workplace.

I encourage you to embrace the culture challenge, and own it at the highest level. Our actions tend to drive culture, just as they do other issues that reinforce business strategy. For more information on workplace culture, including tools for measurement, take a look at Deloitte’s Global Human Capital Trends Report .

© 2016. See Terms of Use for more information.

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. In the United States, Deloitte refers to Deloitte LLP, the US member firm of DTTL, and its subsidiaries where certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms.





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The importance of ethics in business – Ethical business practices – Cadbury Schweppes #buy

#ethics in business

#

Ethical business practices
A Cadbury Schweppes case study

Page 1: The importance of ethics in business

Ethics concern an individual’s moral judgements about right and wrong. Decisions taken within an organisation may be made by individuals or groups, but whoever makes them will be influenced by the culture of the company. The decision to behave ethically is a moral one; employees must decide what they think is the right course of action. This may involve rejecting the route that would lead to the biggest short-term profit.

Ethical behaviour and corporate social responsibility can bring significant benefits to a business. For example, they may:

  • attract customers to the firm’s products, thereby boosting sales and profits
  • make employees want to stay with the business, reduce labour turnover and therefore increase productivity
  • attract more employees wanting to work for the business, reduce recruitment costs and enable the company to get the most talented employees
  • attract investors and keep the company’s share price high, thereby protecting the business from takeover.

Unethical behaviour or a lack of corporate social responsibility, by comparison, may damage a firm’s reputation and make it less appealing to stakeholders. Profits could fall as a result.

Along with good corporate governance, ethical behaviour is an integral part of everything that Cadbury Schweppes does. Treating stakeholders fairly is seen as an essential part of the company’s success, as described here: ‘A creative and well managed corporate and social responsibility programme is in the best interests of all our stakeholders – not just our consumers – but also our shareowners, employees, customers, suppliers and other business partners who work together with us. *’

Ensuring that employees understand the company’s corporate values is achieved by the statement of ‘Our Business Principles’ which makes clear the behaviour it seeks from employees.

Cadbury Schweppes’ good practice was recognised when it was voted one of the ‘most admired companies for community and environmental responsibility’ by Management Today magazine in 2003. It was also ranked second in the Food and Drink sector in the Business in the Community ‘Per Cent Club’ Index of corporate giving for 2003, with an investment in the community of around 3of its UK pre tax profits.

* Cadbury Schweppes Corporate and Social Responsibility Report 2002

Cadbury Schweppes | Ethical business practices





Tags : , , , , , , , , , ,

The importance of ethics in business – Ethical business practices – Cadbury Schweppes #business

#ethics in business

#

Ethical business practices
A Cadbury Schweppes case study

Page 1: The importance of ethics in business

Ethics concern an individual’s moral judgements about right and wrong. Decisions taken within an organisation may be made by individuals or groups, but whoever makes them will be influenced by the culture of the company. The decision to behave ethically is a moral one; employees must decide what they think is the right course of action. This may involve rejecting the route that would lead to the biggest short-term profit.

Ethical behaviour and corporate social responsibility can bring significant benefits to a business. For example, they may:

  • attract customers to the firm’s products, thereby boosting sales and profits
  • make employees want to stay with the business, reduce labour turnover and therefore increase productivity
  • attract more employees wanting to work for the business, reduce recruitment costs and enable the company to get the most talented employees
  • attract investors and keep the company’s share price high, thereby protecting the business from takeover.

Unethical behaviour or a lack of corporate social responsibility, by comparison, may damage a firm’s reputation and make it less appealing to stakeholders. Profits could fall as a result.

Along with good corporate governance, ethical behaviour is an integral part of everything that Cadbury Schweppes does. Treating stakeholders fairly is seen as an essential part of the company’s success, as described here: ‘A creative and well managed corporate and social responsibility programme is in the best interests of all our stakeholders – not just our consumers – but also our shareowners, employees, customers, suppliers and other business partners who work together with us. *’

Ensuring that employees understand the company’s corporate values is achieved by the statement of ‘Our Business Principles’ which makes clear the behaviour it seeks from employees.

Cadbury Schweppes’ good practice was recognised when it was voted one of the ‘most admired companies for community and environmental responsibility’ by Management Today magazine in 2003. It was also ranked second in the Food and Drink sector in the Business in the Community ‘Per Cent Club’ Index of corporate giving for 2003, with an investment in the community of around 3of its UK pre tax profits.

* Cadbury Schweppes Corporate and Social Responsibility Report 2002

Cadbury Schweppes | Ethical business practices





Tags : , , , , , , , , , ,

The importance of ethics in business – Ethical business practices – Cadbury Schweppes #business

#ethics in business

#

Ethical business practices
A Cadbury Schweppes case study

Page 1: The importance of ethics in business

Ethics concern an individual’s moral judgements about right and wrong. Decisions taken within an organisation may be made by individuals or groups, but whoever makes them will be influenced by the culture of the company. The decision to behave ethically is a moral one; employees must decide what they think is the right course of action. This may involve rejecting the route that would lead to the biggest short-term profit.

Ethical behaviour and corporate social responsibility can bring significant benefits to a business. For example, they may:

  • attract customers to the firm’s products, thereby boosting sales and profits
  • make employees want to stay with the business, reduce labour turnover and therefore increase productivity
  • attract more employees wanting to work for the business, reduce recruitment costs and enable the company to get the most talented employees
  • attract investors and keep the company’s share price high, thereby protecting the business from takeover.

Unethical behaviour or a lack of corporate social responsibility, by comparison, may damage a firm’s reputation and make it less appealing to stakeholders. Profits could fall as a result.

Along with good corporate governance, ethical behaviour is an integral part of everything that Cadbury Schweppes does. Treating stakeholders fairly is seen as an essential part of the company’s success, as described here: ‘A creative and well managed corporate and social responsibility programme is in the best interests of all our stakeholders – not just our consumers – but also our shareowners, employees, customers, suppliers and other business partners who work together with us. *’

Ensuring that employees understand the company’s corporate values is achieved by the statement of ‘Our Business Principles’ which makes clear the behaviour it seeks from employees.

Cadbury Schweppes’ good practice was recognised when it was voted one of the ‘most admired companies for community and environmental responsibility’ by Management Today magazine in 2003. It was also ranked second in the Food and Drink sector in the Business in the Community ‘Per Cent Club’ Index of corporate giving for 2003, with an investment in the community of around 3of its UK pre tax profits.

* Cadbury Schweppes Corporate and Social Responsibility Report 2002

Cadbury Schweppes | Ethical business practices





Tags : , , , , , , , , , ,

Boston Business Journal: The importance of workplace culture #business #from #home

#boston business journal

#

The importance of workplace culture

​The importance of workplace culture

An employer’s perspective, as shared by William K. Bacic. New England managing partner, Deloitte LLP

It’s no secret that workplace culture has become one of 2016’s hottest topics for business leaders. Research shows that workplace culture drives not only behavior, but also plays a major role in innovation, and customer service. In terms of specific numbers, 82 percent of the respondents to the Deloitte Global Human Capital Trends 2016 survey believe that culture is a potential competitive advantage for employers. Equipped with that knowledge, it is nearly impossible to overstate culture’s importance, especially when thinking about not only recruiting and retaining talent, but also in meeting business goals.

Knowing just how crucial of a role culture plays, we, as business leaders, should consider doing all that we can to help foster a culture where professionals thrive. A step in the right direction may require that business leaders recognize the importance of culture, and give it the attention and investment it deserves. Executives should consider working with HR to help take responsibility for culture, and support it through both a measurement process and infrastructure.

However, that challenge, like many others, is often easier said than done. To start, we leaders should visibly prioritize culture in our organizations. That means clearly understanding the values of our companies, and how they affect business strategy. We should help shape the company’s value and make sure that we are leading by example, and reinforcing the desired culture. For example, at Deloitte, we are committed to making an impact that matters in the communities where we live and work. I enjoy taking an active role in my community, whether that is serving on nonprofit boards, hosting events in our office, or volunteering.

As executives, we should also consider examining the current culture at our organization, and determining whether or not that is the culture we desire.

That means taking a close look at our organizations and not only identifying those practices that align with the desired goals, but also taking note of practices that may require some change.

From there, it is up to leaders to help ensure this new culture becomes permanent. We should serve as an example of the new culture, and become cultural ambassadors for our organizations. Whether that means volunteering in your free time, avoiding email on weekends, or remaining offline while on vacation, leaders should consider embodying the culture of the workplace.

I encourage you to embrace the culture challenge, and own it at the highest level. Our actions tend to drive culture, just as they do other issues that reinforce business strategy. For more information on workplace culture, including tools for measurement, take a look at Deloitte’s Global Human Capital Trends Report .

© 2016. See Terms of Use for more information.

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. In the United States, Deloitte refers to Deloitte LLP, the US member firm of DTTL, and its subsidiaries where certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms.





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The importance of cash flow – Controlling cash flow for business growth – Chartered

#cash flow business

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Controlling cash flow for business growth
A CIMA case study

Page 2: The importance of cash flow

Cash flow is of vital importance to the health of a business. One saying is: revenue is vanity, cash flow is sanity, but cash is king . What this means is that whilst it may look better to have large inflows of revenue from sales, the most important focus for a business is cash flow.

Many businesses may continue to trade in the short- to medium-term even if they are making a loss. This is possible if they can, for example, delay paying creditors and/or have enough money to pay variable costs. However, no business can survive long without enough cash to meet its immediate needs.

Cash inflow and outflow

Cash comes into the business (cash inflows), mostly through sales of goods or services and flows out (cash outflows) to pay for costs such as raw materials, transport, labour, and power. The difference between the two is called the net cash flow. This is either positive or negative. A positive cash flow occurs when a business receives more money than it is spending. This enables it to pay its bills on time.

A negative cash flow means the business is receiving less cash than it is spending. It may struggle to pay immediate bills and need to borrow money to cover the shortfall. The distinction between cash flow and profit is shown in the example. In accounting, negative figures are shown in brackets.

Liquidity

Businesses aim to provide greater financial returns than the level of interest earned by simply placing the cash in a bank. They can also hold too much cash. Cash does not earn anything so holding too much cash could mean potential losses of earnings. The cash situation is referred to as the liquidity position of the business. The closer an asset is to cash, the more ‘liquid’ it is. A deposit account at a bank or stock that can easily be sold are liquid. Assets such as buildings are the least liquid. Liquid assets are those that are most easily turned into cash.

Cash flow is always important, but especially when it is not easy to obtain credit. When the economy is in recession, financial service providers are reluctant to lend money. Borrowing also becomes more expensive as interest rates are raised to partially offset the risk of borrowers not paying back loans.

Controlling cash

Controlling cash is essential and management accountants deal with a range of cash issues:

  • ensuring that sufficient cash is available for investment by not tying up cash in stock unnecessarily
  • putting procedures in place for chasing up outstanding debts
  • controlling different levels of cash outflows in relation to the size of the business.

For example, a car repair garage buys parts and tyres whilst a hairdresser buys shampoos, equipment and pays for power. In each case, if the business has cash problems it may be slow to pay its bills to suppliers. This creates further cash problems which spread throughout the economy. If small suppliers are not paid they may go out of business. This in turn may affect businesses further up the ladder.

Chartered Institute of Management Accountants | Controlling cash flow for business growth





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