Managing people Essay Example | Topics and Well Written Essays - 1500 words

Managing people - Essay Example The purpose of writing this paper is to identify the ethical policies and practices of an organization, its benefits and effects on stakeholders, and how people at the managerial level play their role in developing and implementing organization’s ethical policies and practice. Corporate level managers and executives are facing a lot of pressure from the external forces to maintain their ethical records. External forces may include government, legislative bodies, consumers, and employees etc. The objective of adopting ethical principles and practice is to provide ground for the development of modern ideas of doing work and collaborative efforts for business activities. Traditional concept of doing business aiming higher profit and enrichment of shareholders is no more successive because business ethics are now important aspect that every manager has to deal with (George 1982). Ethical managers believe in the fulfilment of following aspects: Achievement of corporate social respo nsibility Development of fair trade policies with business partners Ethical leadership, supervision, and control Community development Mutual cooperation (with employees and other stakeholders) Fair production and distribution Environmental protection Communal enterprise Fulfilling social rights, employee empowerment, and work life balance (Crane and Matten 2007). Managers who believe in serving ethical behaviour and practices gain more and achieve higher degree of cooperation and trust from their stakeholders. Adoption of ethical values results in higher revenues due to positive sentiments amongst general public and higher demand from the customers. It develops strong moral as well as financial support from ethical investors, and increases brand awareness and brand recognition. Moreover, ethical behaviour increases employee satisfaction, commitment, and their loyalty towards job and finally, it generates better corporate image and goodwill for the business (Andreasen 2001). On the other hand, managers may also face some drawbacks or disadvantages by adopting ethical policies such as higher costs for promoting corporate image and compliance with the fair trade policies with suppliers without quality compromise. Another disadvantage can be the development of false or wrong expectations among stakeholders. Organizations also lose their freedom to maximize profit. For example, an organization transfers its manufacturing facility to an underdeveloped country for less costly production due to the availability of cheap labour. Practices like child labour, poor work safety, and low wages are acceptable in that country, but all these may not be permissible in organization’s ethical policies and practices, therefore managers and other executives would compromise on profitability giving higher consideration to the values that the company holds for the society it operates in (Andreasen 2001). According to Milton Friedman, â€Å"primary and only responsibility of business is to make money† (Duska 2007). This statement can be true to some extent and most of the supporters of this view suggest that self-interest of an organization seeking profit automatically benefits the overall society. It is true that all profitable businesses provide benefits to their shareholders but stakeholders may or may not get their share. Stakeholders basically are those people or groups who directly or indirectly get benefits from organizations. Stakeholder includes shareholders, employees and their families, the

Travel Industry Essay Example | Topics and Well Written Essays - 2500 words

Travel Industry - Essay Example International traffic is slated to grow at 6.1% during the next decade and is likely to slow down to 5.5% over the 2015-2025 period.1 NORTH AMERICA: North America remains the most mature and the largest market in terms of traffic volume. Since it is a mature market the twenty years growth estimates are lower than the world average. However the market was occupy an important position because of the sizeable volume of traffic flows. International travel prospects are more promising than inter regional, therefore the passenger fleet size will enlarge to 7402 units in 2025 from its current size of 4133 units(in 2005).2 LATIN AMERICA AND CARRIBEAN: Agreement between Brazil, Argentinia, Chile and Peru allows for a level of fifth freedom rights.ElSalvador, Guatemala, Hondauras and Nicaragua have moved a step closer to a single Central American Aviation market with an agreement that calls for more relaxed customs and immigration controls. Traffic growth projections for Latin America, for the review period are higher than the world average at 5.3%.The annual average rate for inter regional traffic is anticipated to be 6.1%.3 EUROPE:Inter regional traffic within Europe will remain the second most significant flow accounting for nearly 12% of the total world's traffic within that region. In 2005 Transatlantic load factor stood close to 83%.European traffic growth forecast stands at 4.8% equally the world annual growth rate. International traffic growth is likely to be robust. Therefore Europe's passenger fleet will double by 2025.4 Europe-Asia Pacific traffic flows will increase at 6.0%, with Latin America at 6.0%.CIS and Europe traffic flows will hit a 6.6% growth rate and a strong 7.3% with Middle East. CIS: International traffic flows from CIS will see a 6.8% increase, marginally above the world average rate. Russia dominates the aviation market landscape in CIS.In September 20005, more than 88% of CIS available domestic capacity was with Russia. Strategic destinations for international travel will be-Asia Pacific, North America and Middle East and Latin America.5 AFRICA: Angola and Nigeria are increasingly becoming an important business destination, mainly because of the accessibility to natural resources like oil, gas and copper. India and China besides other nations have struck trade partnerships with these African nations. In 2005, 100,000 Chinese tourists visited Africa, doubling the figure from 2004.Sub Saharan Africa is saw a 13% increase in international traffic inflows in 2005 as against 5% in 2004.6 MIDDLE EAST: Dubai has climbed from the 26th to the 10th position as a global hub over the last decade.Globally, the route exhibiting the highest growth in terms of traffic volume is London-Dubai. Middle East also has a geographical advantage with a 8,000 nautical miles circle around it.Also, the benefit of having three emerging economies (Russia, China, India) in its "backyard" makes it an advantageous location. International traffic growth is anticipated to be 7.2% for the next ten years and 6.3% over the span of 2015-2025.7 Potential for New Markets. BRIC: Vast consumer base and a consistent high growth rate. The emerging economies in Asia with their large populations and buoyant economies are expected to be the most promising