3/26/2020 0 Comments
International Engineering Management - Essay Example This study highlights that the first machine was huge in structure which was then technologically upgraded. This led to the invention of some smaller models. The company revolutionized by inventing popcorn machines which used a unique blend of â€˜butter oilâ€™ and â€˜leaf lardâ€™ to offer crispy popcorns to the customers. In its initial years, to attract customers, the company offered the popcorns in a uniquely designed vintage vehicle with a toy clown in it. Charles Cretors was successful in tracking the market demand which helped the company to establish its niche in the market. With the success of the invention made by Charles Cretors, the company leaped to fame. The company enjoyed the advantages of being a first mover in the industry. This was achieved by the companyâ€™s breakthrough innovation in being the first in discovering this type of machine. It enabled the company to earn a bigger market share within a shorter lapse of time. The company was also able to achieve cost synergies. Being the pioneer in inventing such a machine, the company could price its products accordingly, depending on the rise in demand for its products in the market. Though the initial demand of these machines was not very high, but in the year 1887, the company was able to sell thirty of such machines which helped it to generate revenues of approximately $3,627. With the rising demand of popcorns, the company started growing stronger in the domestic market. The company was successful in estimating the growing demand for popcorns which was in turn triggering the demand for better popping machines. Such a technologically upgraded machine would enable easy production of popcorns in huge amounts incurring lesser time. To tap this growth opportunity, the company launched two new models out of which one model was named as â€˜Earn moreâ€™ to attract the grocers to buy this model to ensure higher profits.
1/11/2020 0 Comments
Ethical Theory (Philosophy) - Essay Example Unfortunately, despite of the huge popularity of ethics in academia, it has been an observation that individuals informally and even organizations formally have ignored the importance of ethics and its implementation in different procedures intentionally and/or unintentionally, which has resulted in rising of various ethical dilemmas globally. This paper is an attempt to contribute towards the similar debate regarding the role of ethics in understanding and resolving ethical dilemmas in our society. Particularly, focus of the paper will be on ethical dilemma in the business world while an ethical theory Utilitarianism will be under utilization for analysis purpose. In the corporate world, majority or almost every decision involves the factor of profitization, and for this purpose, business organizations develop their own code of ethics to suit their decisions and justifications. As the result, one can observe a conflict of ethical standards when it comes to comparing different organizations that are resulting in creation of global issues that are directly or indirectly affecting millions of people around the world. Experts believe that â€œbusiness ethics is a set of principles and ideologies that offer understanding and methodology to earn fair income in the business organizationsâ€ (Crane, 2007, pp. 23-28). Unfortunately, analysis has indicated that there has been a similar understanding in majority of organizations; however, it has remained limited to the level of understanding only rather than implementation (Furrow, 2005). Ethical Dilemma In every business organization, accountancy is one of the major aspects that play a significant role in determining its success or failure. Due to such significance, accountancy includes dealing with sensitive information that results in a very big responsibility on accountants, which at the same time, opens doors for unethical acts and fraudulent behaviors (Kotler & Lee, 2005). Unfortunately, literature has identified a number of instances in which accountants and particularly, organizations failed to abide by the ethical code of conduct resulting in heavy prices (Beenen & Pinto, 2009), and the case of Enron Corporation is a very famous example of ethical dilemma in business field. This case resulted in a new debate that now focuses on white-collar crimes and possibility of organizational corruption due to presence of loopholes in organizational setup that then lead to unethical activities globally. The paper will analyze this ethical dilemma in light of non-religious ethical theory of Utilitarianism; however, from analysis of other literature, work pressure has turned out to be the most evident factor that enforces individuals to incline towards unethical activities (Johnson, 2008). Work pressure can be in the form of overload work that results in lesser time for individual to spend at home or out of organization, which creates pressure. On the other hand, work pressure exists in the form of financial pressure that involves using organizational structures and loopholes for personal advantages and success (Beenen & Pinto, 2009). Utilitarianism As earlier mentioned, many philosophers and scholars proposed their theories for explaining the notion of ethics; however, many of these theories faded in darkness but Utilitarianism (Mill,