Using Facebook to Create Identity

Using Facebook to Create Identity Facebook biography Introduction A Facebook biography is a form of identity mask. People can hide their defects what they do while others and deceive others about their real identity true self. Traditionally, people make friends with others who are around them. Nowadays, people send friend requests to random people on Facebook or get connected use available through other networks to increase their number of friends. Others might make befriend friends with those people they interact with online. Many friend requests are sent after making contacts in other areas of the Web online websites. However, most people rarely interact with the majority of their Facebook friends, thereby creating a dormant archive of relationships. Despite this, most people want to portray certain traits through their bios. The Facebook bios of celebrities and professionals are frequently searched. In his article Reflections in the Facebook Mirror, Aimee Lee Ball argues that Facebook users hide their identity through well-crafted bios. Using Facebook to hide Identity The need to hide information about oneself is motivated by the increased possibilities of revealing oneself to large groups of people. People hide their identities so they can be liked more. Facebook increases opportunities for communication and influences how like other types of communicative such as the phone and email are used. It is difficult to describe oneself in a few words as required in Facebook; this is the reason professionals some people with a long list of credentials find it stressful difficult to describe themselves. Many people want their biographies to be simple but to reflect their skills and abilities as much as possible approachability. They want to look accomplished, but not boastful. There are professionals who expose a lot of information in order to ensure themselves open and sincere. Most of them have taken professions that are characterized by too much fraud and insincerity. Moreover, people do not want to limit their access by being on the other side of the political or religious division. They will go to great extent to hide their religious and political affiliation. Sometimes, they will make complex depiction of themselves. Regarding religion, Facebook users will make descriptions that make them look normal and acceptable. People rarely state that they are atheist. Others, who present themselves as atheists, have something else to compensate this weak point. Some Facebook users do not like the idea of filling in their bio-data especially because they will be required to get out of their comfort zones. Consequently, they will give haphazard descriptions in the ‘religion’ and ‘politics’ sections. Disgruntlement towards Facebook bios may stem from a desire to keep some aspects private, and the need to escape bias (Boyd Ellison, 2007). Most descriptions are radical and are a sign of protest to the inclusion of these fields in the identity information. In the religion section, a description such as â€Å"I have given up on God and now just worship Oprah† may be protesting at the self-promoting attitudes that people have as they post their information. Facebook bios are a sign of self-adulation and self-satisfaction. Most people do not change their bios after changing their habits, due to things such as relocation. Others may not be experts at stating that what hobbies they actually have. But their association with a hobby reveals innermost desire to become or to achieve. Some professionals reveal more than aspirations; they go to great lengths to show that they did something unique such as attending Yale University or working for Bain Company. They feverishly flood their profiles with events, achievements and projects. Still, some Facebook users prepare their bio in a self-exploration manner. For instance, they may want to test their marketing and branding skills. Self-exploration can be taken in the form of fun. Individuals will play with words in order to appear as jovial and open-minded. Identity formation through a Facebook profile is arguably a rational process of self-deception. Some professionals hire individuals to manage their profiles and increase obscurity through writing and vocabulary (Zà ºÃƒ ±iga, Jung Venezuela, 2012). However, most of the Facebook users use well-crafted words to show that they are interesting and creative. Others may give detailed descriptions in an a ttempt to show non-allegiance to common beliefs and associations. These people tend to deceive themselves. For example, a friend of mine is obsessed with the idea of achieving fame through the use of social media platforms such as Facebook and Instagram. She uses Photoshop on all of photo to make her look prettier and those photos made her over ten thousand â€Å"friends† and â€Å"followers†. But friending people online is not a substitute for real friendship in real life. She doesn’t have many friends in school and the friends she got left her behind because her self-importance of being famous on the social media platforms. But eventually their mask will pull off at a certain point and people will find out who they really are. Depending on individuals, preparing a Facebook bio can be a threat as well as an opportunity. It needs to be brief and may consume hours to make it short and satisfactory. Those who succeed in writing a good bio tend to think of the proc ess as a copywriting exercise. Individuals who see opportunities in writing a bio tend to think of it as an introduction of them on the social network. They think that the bio is the merit for an audience to evaluate them and to decide whether they are worth their time. It is a rare chance for them to make a big impression. Many Facebook bios intend to show what a person does, rather than what a person is. Therefore, such bios comprise on actions and thus have resume-like descriptions of individuals. For instance, a classmate of mine who always posts photo of his designer clothes, luxuries and expensive food on Facebook or Instagram to make other people on the social media platform to think he is wealthy to gratify his vanity. But in real life, he always borrows money from other people and something he does not pay them back. The approach has also been incorporated in the portrayal of character. Rather than stating that, individuals have certain traits such as creativity or sociability, the bio references specific projects or activities that demonstrate those traits. There are people/professionals who help their friends or clients to prepare an appealing Facebook bio (Boyd Ellison, 2007). They tend to have three main ingredients: wit, focus, and evidence of polish. Wit means there’s a governing intellect behind the style while polish means there’s an element of authenticity. The things such people keep in secret, are like they do not define themselves as much as they are exposed to the public (Boyd Crawford, 2012). Firstly, people succeed in deceiving others through their attractive bios that do not reflect their true identities. Secondly, no one is willing to expose the questionable individuals who hide their real identities to deceive and are engaged in crime and misdemeanor. In particular, stalkers are rarely exposed. Facebook users tend to block the friends and strangers with questionable character or background to restrain their access to their profiles. However, they do not do enough to help others for escaping the stalkers, rapists and cons. In addition, many questionable individuals have tailored some keywords to attract the audience. Keywords are used by many Facebook users to specify that what individuals they are. As most social media bios are searchable to some extent, individuals tend to state specific positions or qualities so that they can be found easily. Many Facebook users cannot be measured on the basis of their self-evaluation. Most of the people cannot adequately state their level of competence in their respective positions. It is critical to evaluate them on a person-to-person basis or through their friends and former clients. Professionals also introduce new styles to personal descriptions so that they can appear creative and adventurous to explore. They want to raise their value proposition. Followers cannot determine the value a professional has unless they try his services. However, many professionals do not reveal cases or challenges that threaten, or may have threatened, to keep them out of business. They will not expose such hobbies that are uniquely theirs. Measuring someone through his own impression in person is achievable. A face-to-face meeting can reveal whether the person is familiar with their profession o r not. The discussion of their hobbies and interests can be involved in the meeting. Facebook users who have stated their real interests in their profiles will also give much detail about it. Frequent dealings with a person can reveal whether he has a fully rounded personality or if merely deceives people through their profiles (Boyd Crawford, 2012). For example, people who appear disorganized in their Facebook bio or profile are likely to be disorganized in real life. The intention of determining the real identity of a professional is to verify his identity and level of professionalism. If individuals are found, for example, to have different hobbies, their competence can be put in questioned. Facebook profiles should be changed if progress warrants it. While some people are evaluated by others in their timeline, taking care of some supporters may have their own personal interests. Conclusion A Facebook biography is a form of identity mask that people can wear to deceive others about their real identity. Facebook bios are a sign of self-adulation and self-satisfaction. Identity formation through a Facebook profile is arguably a rational process of self-deception. Most of the Facebook users cannot be measured on the basis of their self-evaluation as they have perfection in the art of deceiving others. Measuring someone through their own impression in person is achievable. In future, Facebook users may describe themselves in more complex terms than today; this may grow out because of the need unique and distinct appearance from others in an increasingly populous planet. References Boyd, D. and K. Crawford. (2012) Critical Questions for Big Data: Provocations for a cultural, technological, and scholarly phenomenon. Information, Communication and Society: 662-679. Boyd, D. M. and N. Ellison. (2007)Social Network Sites: Definition, History, and Scholarship . Journal of Computer-Mediated Communication: 210-230. Zà ºÃƒ ±iga, H. G., N. Jung and S. Venezuela. (2012)Social Media Use for News and Individuals Social Capital, Civic Engagement and Political Participation. Journal of Computer-Mediated Communication: 319-336.

American Success in Achieving Independence Essay

Introduction The British military was considered the strongest in the world at the outreach of fighting between England and the American colonies in 1775. Britain had just defeated France and the Indians in the Seven Years War and had attained its prominence as a world’s superpower. Yet despite Britain’s overpowering military dominance, the British found themselves unable to subdue General Washington and the American colonies. The American’s success in achieving independence during the American Revolution was not due to General Washington’s strategic skill but by numerous British blunders. The British mistakes during the Revolutionary war are: they never had an overall strategy; they failed to identify the Center of Gravity, shifting from offensive strategy to a defensive strategy and diverting the war to the Southern colonies. Overall strategy The British never had an overall strategy for winning the Revolutionary War. They acted vigilantly at points when authoritative and serious attacks could have undermined the Continental army. The British assumed that American rebellion would disintegrate when British troops lands on American shores. They believed that the Continental Army was amateurish and unable to fight a interminable war against an organized British military force. Not until after the Battle of Bunker did the British even begin to consider in terms of war rather than simply rebellion. Britain certainly not intended for a lengthy war and constantly expected for the one pivotal victory. The Continental Army was fighting a domestic war while the British had to ship their troops from across the Atlantic. Fighting against their own countrymen was also both a psychological and emotional handicap for the British soldiers. The British military regularly made mistakes, especially General Howe. His indolence to take action at the start of the war made it probable for General Washington and the Continental Army to survive. Occurrences of poor communication and collaboration between British commanders resulted in squandered occasions as well in Saratoga and Yorktown. The component of period unceasingly handicapped British maneuvers. Communications both across the Atlantic and within the colonies were dawdling and useless. Some commanders took matters into their own hands and followed strategies that they felt best suited their immediate goals. The indecision surrounding responses frequently led to unwarranted caution, unnecessary delays, or unforeseeable prospects in strategic situations, which eventually demonstrated to be costly. Because of the length of time it took for communications, field conditions continually changed. Failure to identify the Center of Gravity The Americans had no discernable central government and the British could not determine a truly decisive Center of the Gravity (COG). The COG is the hub of all power and movement, on which everything depends (Clausewitz, pp. 595-596). There was no COG that Britain could seize and end the war. There was no one that the British military could defeat that would quickly bring about the abandonment of the entire colonist opposition. Throughout the campaign, General Howe continued to allow the Continental Army to withdraw from the field without entirely destroying them. General Howe’s unwillingness to conduct a forceful pursuit and destroy General Washington’s Continental Army saved the Americans from a defeat that could have possibly ended the American Revolution. General Howe did not take into account that the Continental Army was the life of the rebellion and should have been considered as the COG. The British dissipated an opportunity to inflict a destructive defeat on the Continental army at the Battle of Bunker Hill in June 1775. Although they strained the insurgents from the elevated field, the British army missed their chance to deal the rebellion a possibly disastrous blow from the start. Another chance of destruction of the Continental Army came in August 1776. General Washington and the Continental Army had been routed in the Battle of Long Island and withdrew to the defenses of Brooklyn Heights, which left them confined between Hessian and British troops and the East River. General Washington was able to keep the revolution alive by maintaining the Continental Army in the field. Shifting from offensive strategy to a defensive strategy Without French assistance, it is uncertain that the American colonies could have been a match over Britain’s sizeable and well-equipped military. France clandestinely provided the American colonies with supplies and money, and upon formally declaring war on England in June 1778, also committed soldiers and naval fleets. With the French joining the naval war, Britain switched from an offensive strategy to a defensive strategy since their naval superiority is contested. Operations in America became secondary to defense of the British Isles and larger economic interests in the Caribbean. The ministry decided to defend and strike the French in West Indies, which was regarded as more valuable than the American colonies. The British militaries had to be dispersed in several theaters and spread so thin across the Atlantic and no longer concentrated on the colonies, which consequently lost the war in America (Middlekauff, p. 438). Britain’s failure to identify key locations to concentrate her Navy led to not able to secure their most strategically located territories and did not have enough military resources to continue the war in America. â€Å"With the defense thus concentrated, England’s great weapon, the Navy, should have been vigorously used on the offensive† (Mahan, p. 394). Diverting the war to the southern colonies During the initial years of the American Revolutionary War, the initial military battles were in the north. The British changed their strategy to focus on the southern colonies as the leadership felt that the south was home to many loyalists where they could enlist their support and assistance. England felt loyalists in the South were oppressed by the revolutionary government and would flock to them in support (Mahan, p. 516). Britain constantly pursued and hoped for Loyalist support but was never received. Moreover, Britain also definitely did not do what was needed to gain and sustain the Loyalists’ support because they inclined to disregard the help that the Loyalists contributed. In addition, the British Parliament assumed that loyalists would be a more intimidating force and play a more effective position in the war. The British was successful in most conventional battles fought in that region, but American generals in the south turned to irregular and hit-and-run combat that ultimately thwarted the British military. The British should have focused most of their forces on the Continental Army in the north instead of taking the south. Counter-Argument Some argue American independence might not have won without the leadership of General George Washington. He was honest, brave, and sure that the America and its Continental Army can win. He certainly not gave up faith that he would reach that object. His first military victory resulted in the British evacuating Boston in March 1776. General Washington reevaluated the wisdom of the tactical defensive and thereafter avoided confrontations with large concentrations of enemy forces after unsuccessful defense of New York and next Philadelphia. General Washington came to realization that it was far more critical for him to maintain the army as an entity than it was to win any particular battle or campaign (Weigley, p.12). Instead of trying to defeat the British in one decisive action, General Washington instinctively realized that the revolution would survive as long as the Continental army survived. Washington had to remain not only on the strategic defensive, but frequently on the tactical defensive, as well. He correctly understood that, by keeping his army intact, he could keep the revolution alive. If he could maintain the war long enough, Britain would exhaust her resources and struggle across the Atlantic and independence would be gained. Although General Washington lacked major victories in the Revolutionary war, his noted two tactical successes, at Trenton and Princeton, were conducted against smaller concentrations of an enemy force. But, General Washington made a number of excellent decisions at crucial times throughout the conflict. Conclusion Britain had an enormous military advantage at the beginning of the American Revolution with vastly superior naval power and a professional military with far greater financial resources. The British fought a much weaker enemy yet failed to accomplish its military and political objectives. General Washington recognized that the Continental Army was the backbone of the revolution, the Center of Gravity, where the British failed to identify. Another reason was the assistance the Americans received from the French. The British military were remarkably unmatched and clearly the superior army, and had the French not provided aid, it seems unlikely that General Washington and the Continental Army could have defeated the British. They pulled together and were able to capitalize on the British’s blunders. Bibliography 1. Clausewitz, C. On War. Michael Howard and Peter Paret, eds. and trans. Princeton: Princeton University Press, 1989 2. Mahan, A. T. The Influence of Sea Power Upon History, 1660-1783. New York: Dover, 1987. 3. Middlekauff, R. The Glorious Cause: The American Revolution, 1763-1789. New York: Oxford University Press, 2005. 4. Weigley, R. F. The American Way of War: A History of United States Military Strategy and Policy. Bloomington: Indiana University Press, 1977.

The Criticism Of Simpson And Brown Finance Essay - Free Essay Example

Sample details Pages: 11 Words: 3184 Downloads: 4 Date added: 2017/06/26 Category Business Essay Type Research paper Did you like this example? 1. Simpson and Brown presumably acted in what they thought were the best profit interests of their companies. Nothing they did was illegal. Don’t waste time! Our writers will create an original "The Criticism Of Simpson And Brown Finance Essay" essay for you Create order On what grounds if any, are their actions open to criticism? Indeed the role of a financial manager in a corporation is key for a companys success. He has the responsibility in ensuring the proper workflow of the financial management process in the company including financial analysis, financial decision making and financial control which contributes fully to the successful management of the business. He has to make sure that there is effective funds management in which all the funds are properly allocated and utilized for organizational objectives. He is also in charge of making sure that the firm is exposed to minimum financial and foreign exchange risk and tax liabilities. He needs to interact with the financial market and other financial institutions to find more investment and financing opportunities for the company. He also has to be involved in handling the companys image and its good relationship with the financial community. Balancing the profitability of a company versus de aling with ethical issues surrounding a companys project is also part of a financial managers task. The financial manager is not only a financial specialist but is also involved in being part of a team. He is the key member of the senior management team who is required to have good interpersonal skills to be able to communicate among his colleagues, as well as have technical skills which is important in contributing to the overall management of the organization and its goal of value maximization. (McNemanin, 1999) In the case of Mr. Sumner Simpson, President of Raybestos-Manhattan and Vandivar Brown, Secretary of John-Mansville, financial managers to two different asbestos companies, they were only thinking of the long term value and benefit of their product and its impact to the company. As financial managers, their main goal is the maximization of value for shareholders. They have to ensure that the owners of the company are gaining significant profit from their investment i n the company. And Asbestos being in demand and a necessity in different manufacturing areas such as fireproofing, electrical insulation, building materials, brake linings and chemical filters, they knew that income will continue rising thus, overwriting its negative effects. The potential liability of the inhalation of asbestos was not a cause of immediate concern for Mr. Simpson and Mr. Brown. As stated in the article, only people who are exposed to this chemical for long periods of time, usually 10 years or more are the ones who develop asbestosis and mesthelioma. So the link between these illnesses and the asbestos product cannot be proven in a short span of time. In line with this, if the asbestos companies can prove through research that asbestosis was milder than silicosis, an illness which causes shortness of breath caused by inhalation of silica dust, they knew that they can give compensation to workers who will develop this disease. But the thought that asbestosis ca n be a compensable disease is also what made these financial managers bring their companies to financial ruin. Even as the link between asbestos and the lung diseases asbestosis and mesthelioma is not immediately apparent in the first year, the cases of workers who developed this sickness boomed after a few years. With so much sick workers filing for compensation, reaching almost 500 workers a month, Raybestos-Manhattan and John-Mansville corporation were spending more than they were earning to the point of filing for bankruptcy. They didnt think of the long term effect of this illness not only to the workers but to the company. Mr. Browns justification of concealing the true state of a workers health as long as he is not disabled to be able to happily work in the company shows the selfishness of the company towards the welfare of its workers. A caring company should make sure that their workers are in their best health condition to be able to work properly. In times of sickness, they should provide their employees proper health care. These are mandatory obligations of a company to their employees, who are major players in the success of a company. Mr. Simpson and Mr. Brown were too focused in thinking of maximization of wealth. They have forgotten that a company is made up not only of the owners but of all of those affected by corporate behavior such as the general public, workers and consumers. The Stakeholder theory states that in making corporate decisions, the company should always think of everyone involved in the company including the workers and consumers. In the Stakeholder theory, the owners are the primary stakeholders. Employees, lenders and others who are with a direct economic interest in the corporation are the secondary stakeholders. Stockbrokers, tax authorities and potential investors are the tertiary stakeholder. Maximization of wealth of the shareholder is not the only goal of the financial manager but the over-all welfare of all stak eholders. (McNemanin, 1999) This management theory believes that healthy relationship among all the stakeholders will produce long term benefits for the company. For example, giving workers additional bonuses and proper health benefits will boost their morale and make them more enthusiastic in working for the company. They will feel they are being taken care of by their employers and in return, they will be committed and give their best for the benefit of the company. Giving additional rewards to customers also produces customer loyalty to a companys product. The stakeholder theory recognizes the rights of all the different parties involved in the companys function and not only the shareholders interests. If Mr. Simpson and Mr. Brown have given more value to their employees, the worker should have not gotten sick and filed complaints. Mr. Simpson and Mr. Brown have also clearly violated corporate social responsibility. Companies have major areas of social responsibility. First of all is the full compliance with all the laws where the company functions. It should abide by all international, federal, state and local legislative laws and acts. Asbestos companies have undoubtedly violated the law by putting in danger the lives of its workers. By concealing the hazardous effects of the inhalation of asbestos, these companies have put thousands of civilians lives at risk. The litigation of asbestos companies has been the longest running mass tort in U.S. History.(Carpol, 2002) Every year, the number of people who file for claims is growing. Asbestos companies have not been able to give all of these victims proper compensation. Different arrangements have been planned to pay all the plaintiffs, however, due to lack of funds, improper allocation of funds is happening. The fall of the asbestos companies clearly show the drastic effect of not following proper corporate social responsibility. The second area of social responsibility is creating moral and ethical standards on which the company will operate. These standards vary from one company to another. Something is considered ethical if it abides by the principles of conduct given by the group. Much problem arises in developing a companys set of ethical and moral standards. Answering the question what is the right thing to do? is not easy especially since each and every person in the company have different backgrounds and perspective in life which means every judgment differs from another. Ethics in business provide a moral framework where financial managers may evaluate their decisions and judgments when faced with a difficult business dilemma. Unethical behavior does not equate to illegal behavior. An unethical behavior usually breaches an accepted code or conduct of behavior in a certain group of people but not necessarily break a law. Common ethical issues in business are usually giving consumers misleading information about a product or service, not disclosing company policies and practices and not telling how a company deals with environmental matters. Also non-disclosure of pertinent information regarding a product is also one ethical pitfall. (Anderson, 1989) In a financial managers point of view, there is nothing illegal in what Mr. Simpson and Mr. Brown did to preserve the interest of their company. They continued promoting asbestos as it evidently gave the company huge profit. However, it was unethical for them to not disclose the hazardous effects of the inhalation of asbestos to the public. They mislead the people in believing that their product is safe to use, they did not give the people the true information regarding this product. Mr. Simpson and Mr. Brown may have benefitted from this omission for a short term, but in the long run, they lost the publics confidence and trust resulting to massive law suits to their disadvantage. Because of this disgrace, their companies have lost millions of money eventually leading to bankruptcy. In concl usion, Mr. Sumner Simpson and Mr. Vandivar Brown should have re-evaluated their companies project in using asbestos. They should have seen the long term effects of the disclosure of information regarding asbestos and giving their workers proper knowledge about the product that they were exposed to while working. Despite maximization of wealth being a primary goal, financial managers should never forget the companys social responsibility to the people. Investing in the welfare of the people workers, consumers and other diverse parties provides future long term benefits to a company. 2. Does Dr. Smiths explanation for concealing from workers the nature of thir health problems illustrate how adherence to industry and corporate goals can militate against individual moral behavior? Or do you think Dr. Smith did all he was morally obliged to do as an employee of an asbestos firm? What about Lanzas suppression of data in his report? Deciding whether or not to follow ones moral duty or abide to industry corporate goals is not an easy decision to make. Sometimes, the goals of the corporation may not be in accordance to an employees morals and ethics. There is an ethical conflict between what is best for the company and its workers. In this case, whether or not to pertinent information regarding the effects of the inhalation of asbestos to the public is a hard decision for an employee to make. By exposing the studies, shareholders wealth will surely suffer, but at the same time concealing the effects will be harmful for the workers who are employed in the company. Who should be given utmost importance in this scenario- the profit of the company or the welfare of workers? Who should sacrifice? The company who can suffer future financial loss? Or the workers who can die of cancer because of their continued exposure to asbestos? Discussion of the conflict between maximization of wealth and the moral and ethical v alue of decisions within a company can be linked to two concepts in making crucial decisions in financial management. The first concept is Corporate Governance. Corporate governance is the group of customs, policies, laws and processes that affects how a company is controlled and managed. This is also the standards of behavior and conduct expected from the directors and other senior executives in running the affairs of the company. This involves the relationship among various participants in determining the direction and performance of corporations (Monks and Minnow, 1995) Corporate governance also refers to the relationship of the senior executives to shareholders and other stakeholders such as the employees, consumers and suppliers. Some of the important themes discussed in the corporate governance are the principal-agent problem where the interests of the manager in practice may be in conflict with the goal of maximization of the share holders wealth. Another theme in corpo rate governance is always acting for the best interest of the shareholder and one more popular model is the stakeholder theory which gives importance not only to shareholders but also to other stakeholders who are part of the company. Corporate governance practices have been given renewed interest as the decisions of financial managers and directors in the past, such as in the case of the asbestos company, has shown to be crucial in the success or downfall of a company. Dr. Smiths explanation in concealing from workers the nature of their health problems indeed illustrate how the goals of the companies manipulate the individual moral behavior. As said in the article, by not telling their true condition, the workers could continue to live happily in peace and be more beneficial for the company. They have manipulated their employees in believing that they are healthy and have deprived them of their right to take control of their health. When workers who had cancer filed lawsuits already in the 1950s, he also suggested Health Industrial Health Foundation be retained to conduct a cancer study that would destroy the link between asbestos and cancer, however, companies refused believing that such a research would only give bad publicity to their product. His only goal in suggesting this was to disprove the asbestos-cancer connection, and protect the brand name of his company. He was not thinking of the workers welfare. Also, by not recommending to John-Mansville officials to put warning labels on insulation products containing asbestos, he was again thinking only of the reputation of the brand name of his asbestos firm. He was only thinking of the potential future financial loss of putting such a warning and therefore never suggested the idea to the company. His acts were fully in the interest of maximization of shareholders wealth and completely disregarded his moral obligations to the other stakeholders. However, these selfish decisions evidently backf ired because in the long run, his asbestos firm suffered. It only proves that choosing the right corporate governance practice is beneficial not only to the company but to social-economic progress as well. Ethics is another principle which is crucial in financial management decision making. According to Charles Handy (1995): An ethical company is one that does what it believes in, and if it does well, then shareholders will benefit. People will work better, and the company will be respected by everyone including customers and clients. In business, Ethics is a yardstick for evaluating managerial decisions and actions in relation to moral standards. In making complex and critical decisions, ethics provide a moral framework in which the employee can gauge his decisions. Unethical behavior is not equivalent to an illegal behavior. An unethical behavior may violate a standard conduct of a certain group but it does not mean that it is illegal. A firm who has good ethical behav ior can be linked to have a long-term shareholder value. That is why a lot of companies make sure that they have a solid code of ethics which guides their investments. Enhanced corporate image, greater investor confidence, less risk of expensive litigation and loyalty from workers and customers are some of the strategic benefits of having a sound ethical code of conduct and practices. In contrast companies who have bad ethical values are destined to fall. Unethical behavior made by companies can clearly lead to significant loss of value or wealth for the shareholders. A company who gains a poor ethical track record will lose public trust and confidence and therefore will have a difficult time to re-establish connection with potential investors making it a tough task to raise new capital. In the case of the asbestos companies in the article, they have definitely failed to establish solid ethical values and code of conduct. Because of their drive to raise profit, they didnt cons ider the welfare of the employees and consumers. The directors and managers failed to review the moral consequence of their actions. By following their corporate goals in maximizing shareholders wealth, they have completely forgotten their responsibility to the other parties involved in the function of their company. Dr. Smith has committed a grossly unethical behavior by disregarding the health of the workers just to implement the corporate goals of the company. And because of this, their company extremely suffered. The asbestos companies had many options rather than conceal the hazardous effects of asbestos. They should have reviewed their capital budget and determine if such product is worth pursuing. If they gauged the long term effect of their actions, they should have opted to restructure the company. They also had the option to abandon the use of asbestos and find new materials to use in the different industries in manufacturing. They should have weighed the potential liab ility of using this hazardous product in the long run rather than make an unethical behavior and conceal such important information to the public. Financial journalist also plays a huge part in corporate governance.(Borden, 2007) Through their coverage of legislative initiatives and affecting corporate governance and securities regulation, the people become aware of the important information regarding companies that are sometimes deliberately hidden from the public. They become the publics gatekeeper of information exposing scams and frauds that are sometimes committed by companies. However, these gatekeepers are sometimes not successful in preventing managers from engaging in inappropriate self-serving conduct. This happens when these journalists also have their own personal interests and are paid by the same companies that they are researching on. Instead of becoming the gatekeeper of important information, they can spin and tweak their journals to serve the interest of the com panies they are working for. They forget their moral obligation to the public and become a tool for companies to provide them a good image. This has been the case for Anthony Lanza. The research he conducted from 1929 to 1931 on 126 workers with three or more years of asbestos exposure has served no use because the asbestos companies did not approve of his initial findings. Since his review failed to prove that asbestosis was milder than silicosis, a lung disease caused by inhalation of silica dust which was then a compensable disease, he was ordered to manipulate the review and claim that asbestosis was milder than silicosis. In addition to that, he omitted the important fact than among the 126 workers that were examined, 67 of them were already suffering from asbestosis. He completely manipulated his review and published fraudulent information. He acted completely in accordance with his bosses command and abandoned his responsibility as a gatekeeper of information that improves corporate governance. Dr. Smith and Mr. Lanza have both failed to practice ethical behavior. They solely acted upon the corporate goals of their companies. Their actions clearly illustrate how adherence to the industry and corporate goals can militate individual moral behavior. They were certainly puppets of the company who didnt think of the well being of other stakeholders. Their companies have showed poor corporate governance by choosing only the maximization of shareholders wealth and not the overall welfare of all its stakeholders. Â Resources: Anderson Jr., Jerry W. (1989). Corporate Social Responsibility: Guidelines for Management pp. 15-17. New Yor: Quorum Besser, Terry L. (2002). The Conscience of Capitalism: Business Social Responsibility to Communities pp.14. Westport CT: Praeger Borden, Michael (2007). The Role of Financial Journalists in Corporate Governance. Fordham Journal of Corporate Law and Financial Law Carpoll,S.J. , Hensler, D., Abrahmse, A., Gross, J., White, M., Ashwood S., Sloss, E. (2002) Asbestos Litigation Costs and Compensation: An Interim Report pp.2. Santa Monica, CA: Rand Institute for Civil Justice McNemanin, Jim (1999). Financial Management: An Introduction pp.40-55. London: Routledge Â

Strategic Management and Matrix - 13286 Words

Strategy Analysis and Choice What s Ahead The Nature of Strategy Analysis and Choice The Process of Generating and Selecting Strategies A Comprehensive Strategy-Formulation Framework The Input Stage The Threats-Opportunities-Weaknesses-Strengths (TOWS) Matrix The Strategic Position and Action Evaluation (SPACE) Matrix The Boston Consulting Group (BCG) Matrix The Internal-External (IE) Matrix The Grand Strategy Matrix The Decision Stage The Quantitative Strategic Planning Matrix (QSPM) Positive Features and Limitations of the QSPM Cultural Aspects of Strategy Choice The Role of a Board of Directors Chapter Wrap-Up What s Ahead Strategic analysis and choice largely†¦show more content†¦This information, coupled with the firm s mission statement, will help participants crystallize in their own minds particular strategies that they believe could benefit the firm most. Creativity should be encouraged in this thought process. Alternative strategies proposed by participants should be considered and discussed in a meeting or series of meetings. Proposed strategies should be listed in writing. When all feasible strategies identified by participants are given and understood, the strategies should be ranked in order of attractiveness by all participants, with 1 = should not be implemented, 2 = possibly should be implemented, 3 = probably should be implemented, and 4 = definitely should be implemented. This process will result in a prioritized list of best strategies that reflects the collective wisdom of the group. A Comprehensive Strategy-Formulation Framework Important strategy-formulation techniques can be integrated into a three-stage decision-making framework, as shown in Figure 6-2. The tools presented in this framework are applicable to all sizes and types of organizations and can help strategists identify, evaluate, and select strategies. Figure 6-2 The Strategy-Formulation Analytical Framework Stage 1 of the formulation framework consists of the EFE Matrix, the IFE Matrix, and the Competitive Profile Matrix. Called the Input Stage, Stage 1 summarizesShow MoreRelatedStrategy Formulation, Situation Analysis and Business Analysis1590 Words   |  7 PagesStrategy Formulation: Situation Analysis and Business Strategy Institut fà ¼r Strategisches Management Institut fà ¼r Strategisches Management Situational Analysis Strategy Formulation - developing a corporation’s mission, objectives, strategies and policies Situation Analysis - the process of finding a strategic fit between external opportunities and internal strengths while working around external and internal weaknesses Wheelen / Hunger, 2010, p 224 SWOT Analysis SWOT- Strengths-WeaknessesOpportunities-ThreatsRead MoreGe Matrix1190 Words   |  5 PagesThe GE matrix is an alternative technique used in brand marketing and product management to help a company decide what product(s) to add to its product portfolio, and which market opportunities are worthy of continued investment. 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