2.1 Early Detection of Misconduct Issues An early detection of misconduct due to the implementation of compliance program allows businesses to address the real risk and deter any... ... middle of paper ... ...rvices to the customers. Hence, the establishment of compliance program creates a guideline that urges the corporations to be responsible for the actions that they commit and helps to detect any misconduct and offenses. Nevertheless, the implementation of compliance program requires higher cost and once the corporations introduce the compliance program, they are bound to comply with the standards listed. The disclosure of the internal reports may as well disadvantages the firms by creating substantial risk that will waive the information protection from attorney-client. In my opinion, corporation should consider developing and implementing effective compliance program despite having certain disadvantages.
The better a business understands its customers, the more responsive it can be to their needs. Benefiting from CRM is not just a question of buying the right software but businesses must also adapt themselves to the needs of their customers. In the commercial world the importance of keeping existing customers satisfied and expanding business is paramount. The importance of customer satisfaction should not be underestimated. Happy customers buy more than unhappy ones, and they do so for a much longer period of time.
This means that the information is either imperfect or asymmetric. Imperfect information, as well as asymmetric information, lowers quality. Advertising may solve this problem in most cases. Consumers can gather information for several products through advertisements and because of this, producers must improve the quality of their products. But why firms advertise so much?
The article suggested that fairness to respondents has to be the primary concern. The authors believe the incidence of unethical behavior in the profession was generally low, and the authors also believe that the uses of unethical behavior were not lead to success. The authors also suggested that if top management criticized the use of unethical behaviors will be helpful in reducing the ethical problems. This article provides a clear understanding of what are the major ethical issues and the suggestion to reduce the problems, which is extremely helpful in our study of ethical issues in marketing
This helps businesses produce without the worry of being overrun by bigger companies. Federal regulatory agencies help to protect competition so that it does not get out of hand. Competition is important so that prices remain in reason and product quality is outstanding. Without competition, the market would be filled with monopolies for different products. Competition is made fair so that companies are able to accomplish this.
This opportunity allows ... ... middle of paper ... ... of remaining fair with a collection of antitrust laws. The laws ensure that there is not monopolization of products, price fixing to destroy competitors and over charging the consumer. The open market is filled with such competition that producers are unable to compete in the market against the larger companies and develop countries. Laws have been enacted to protect the small producers and the consumers from harm. To fix this dilemma, we must provide equal opportunity in the open markets.
Keep in mind, the selected strategies are more in alignment with Allstate and best because it presents additional opportunities that Allstate can explore to drive growth and their ratings. Generic Strategy To begin, Allstate is a profit driven organization. Subsequently being categorized as an exclusive low cost leader under the generic strategy is not accurate. However, differentiation is a better strategy for Allstate. Reason being, differentiation is more so tailored to attract specific customers who desires an exclusive product or feel as if their product is superior.
But there are problems with this act; it allows the government to decide when to bring it into action and take it out of action. By doing this it gives the go... ... middle of paper ... ...risis. Illiberalism also suggest that because it supports the idea of straying away from liberal ideas. It supports the absence of rights and freedoms, private property and rule of law, as would the source indirectly. The source agrees with government intervention in crisis but allowing the government to intercede completely would allows them to surpass laws (taking away rights and freedoms), inevitably breaking rule of law.
Local content requirements may have favorable effects on the production of the intermediate sector, unemployment, and welfare (Yabuuchi, 2003). The local content requirements allow for local industries to protect their jobs and businesses even with the increased presence of international organisations in the industry. This can allow for strong relationships with international countries allowing for trade efficiency while also attaining local hardworking jobs and businesses. The process of local content requirements can also be used on local industries making sure that they are still using mostly local goods to produce their goods instead of potentially outsourcing most of the production to overseas markets and profiting off potentially unethical business behaviour by exploiting the cheap labour of underdeveloped
In order to deduce that a monopoly is ‘harmful', there must be another market system which is preferable to monopoly so as to offer greater benefits to the public. A monopoly can therefore be compared to perfect competition. If the benefits of perfect competition outweigh the benefits of monopoly then a monopoly can be regarded as ‘harmful' since the consumers are not receiving the maximum possible utility for their purchases. Monopolies are criticised for their high prices, high profits and insensitivity to the public. Some governments therefore, in the light of these protests, advocate policies relating to monopolies, in order to regulate their power in favour of the public's interest.