Profit Maximization Essay Example | Topics and Well Written Essays - 2500 words

Profit Maximization - Essay Example Businesses have developed a heightened interest in promoting awareness on ethical responsibility. Issues concerning environmental damage, improper work regulations and inappropriate employee treatments and faulty production of products which either cause inconvenience to customers or danger public safety are resolved through the links on their objectives and actions. Value-based decision-making through integration of clearly-defined values into organizational structures of numerous organizations proactively address a broad range of community dilemmas. These organizations which attach functional aspects of operations to public welfare include various companies ranging from pharmaceuticals, automobiles, consumer goods to services. Corporate social responsibility, described as the alignment of a company's activity to public expectations, governs organizations which clearly show that public concerns and not profit maximisation is the common objective among organizations. British organizations alone would prove that improving the quality of human life is the primary objective of their operations. Consider GlaxoSmith Kline, a pharmaceutical company established in London whose aim is to improve the quality of human life by enabling people to do more, feel better and live longer. The mission to contribute to the improvement of lives guides the company in developing innovative medicines and products that help millions of people around the world. It does research for medicines and vaccines for the World Health Organization's priority diseases that include HIV/AIDS, tuberculosis and malaria. The company shows its care to Third World countries where debilitating diseases affect millions of people by providing discounted medicines to let more patients acquire necessary cures. These cost reduction schemes applied by the company in its business operations entailed losses from probable profit collections. Actual earnings have been reduced as a result of the pro spects that considered lowering of prices through discounts. The corporate strategy is indeed a way of the company to provide value to consumers and society notwithstanding the objective of financial advantages and profit maximisation (GlaxoSmith Kline, 2001). In the early part of the 21st century, the company made efforts to lower its prices on HIV/AIDS drugs for the benefit of developing countries in relation to their commitment to deliver ways to reduce costs and pass the savings to patients. As a result of their action, patients suffering from the illness in various developing countries were able to take medications and these constitute live of millions of individuals. Due to its desires to continuously improve access for healthcare products, the company gained international recognitions for its decisions that reduced barriers in the consumption of health products (Baker, 2003). In the pharmaceutical industry, social responsibility is not a practice of a single organization. Aside from the GlaxoSmith Kline, another international company with British operations that promotes global corporate social responsibility is Astra Zeneca. Corporate social responsibility is an integral part on how operations are run by the company

Journal article critique Example | Topics and Well Written Essays - 750 words - 1

Journal critique - Article Example This is a challenge since there is limited amount of data in prior researches that tackled the said age range. For that matter, the results were related to behavioral analysis of the effects of disciplinary practices on children belonging to higher age group e.g. 3 to 6 years old. Through the use of the reports of the parents on the frequency of spanking, the specific disciplinary practice noted, the evaluation of the significance of prediction of spanking attitudes can be achieved (Vittrup, Holden and Buck 2056). A longitudinal study of one hundred thirty-two mothers had been the main basis of the research conducted. The said mothers are chosen on the basis of having children that belongs to the 12 months to 4 years age group. The sample size can be considered as sufficient specifically for the targeted behavioral results. It is important to consider though that sample size needs to be the right amount to properly support the assumption that the number of population used in the study constitutes a significant portion of the population. This is specifically important in the statistical analysis of the results (p. 2057). In the type of research method applied there are different biases that can be observed. These can either be inevitable or necessary to be able to set the constraints of the research and focus on specific results to be achieved. In terms of the population size, the number of participants in the study had been dependent on the number of people that can comply on the needs of the research process, such as the cooperation for the 3.5 years of research. In addition, the focus on mothers exclusively threatens the statistical validity due to the need for randomness in choosing samples but this is needed to achieve uniformity in data since there is significantly low number of fathers in the original population invited to take part in the research (p. 2057). The data was gathered through the use of a questionnaire of the