Recent orders
An Ethical Mind. Integrating Business and Christian Concepts
An Ethical Mind: Integrating Business and Christian Concepts
Name
Professor
Institution
Course
Date
Introduction
Ethics plays an extremely vital role in life, and it also applies to those who engage in business practices. The need to ensure that businesses are run and managed from a Christian view point is also extremely beneficial. This means that Christian concepts have to be integrated into a business, in order to ensure that it succeeds. The business owner should have an ethical mind so that they do not engage in activities that are unscrupulous (Ferrel & Hartline, 2007). The book ‘Good to Great’ by Jim Collins gives rise to factors, which must be, considered in order to bring success to any company and business. On the other hand, the author Richard Chewning in the book ‘Business through the eyes of Faith’ provides information on how to apply Christian concepts into a business.
This paper seeks to give a critical analysis of how various Christian concepts can be integrated into a business. Also, it seeks to find out the impact of applying the concepts into business practices.
Critical analysis of applying Christian concepts into a business using an ethical approach
The first concept concerns the matter related to ‘A Culture of Discipline, Not a Tyrant’. This means that issues and other procedures should be handled in a standard manner. If this is the case, there will not be any incidents of misconduct in running and managing the business. The latter will help the business in attaining the much needed freedom and responsibility, which are extremely powerful combinations (Collin, 2001). Also, the business will benefit as it will be celebrated in many aspects. In the many known companies all over the world, discipline is an integral part of their culture. This is because they are known to engage in actions that are disciplined, employ people who are disciplined, as well as ensuring that disciplined thoughts are rewarded. Upon joining such companies, the employees are aware of what it entails to be disciplined. They will not engage in undisciplined acts or bureaucracy, as they have already been well oriented. It must be known that in order to achieve greatness, there should be a commitment to discipline. Those in leadership positions should be excellent examples to those who follow them. This means that the top to bottom approach on management should be focused on promoting discipline (Csikszenthihalyi, 2003).
While working at a restaurant some few years back, I noticed that the waiters were rude when they were dealing with guests. The reason why I think the waiters behave in this manner is because the restaurant’s owner was extremely rude to them. In turn, the waiters took it out on the guests and this led to slow business and diminishing profits. The lack of discipline is what was affecting the running of the restaurant. In order to solve this situation, while assuming the owner’s role, I would change my attitude and communicate well with my employees. This would make their work experience satisfying, and in turn would lead to customer satisfaction.
The second concept is concerning ‘Unwavering Faith amid the Brutal Facts.’ This means that faith and facts are essential aspects of any company or business, which wants to do well. Unwavering faith relates to a means that there is confidence and belief to succeed. On the other hand, brutal facts refer to a certain reality that exists and cannot be easily assumed. Effective and ethical decision making it what leads to the success of a company (Collin, 2001). The need to achieve a breakthrough is what ensures that, as time progresses, people engage in making decisions. It is vital that during the process of making decisions that the brutal facts are presented for everyone to know. In turn, it will be easy for self evidence to appear as a result of making the right decisions.
The concept of being aware of brutal facts related to that of being disciplined is essential. This is because they both contribute to the realization of what the business is all about. As a result of knowing the brutal facts, businesses become exhilarated and energized to make the result rewarding. Through having this attitude, employees are motivated to be stronger both collectively and individually as human beings. Businesses that are to succeed should have adversity, and they must persevere. This means that the business should have its unwavering faith maintained, and the reality of the brutal facts accepted. There is no need to engage in optimism that is self defeating and unrealistic (Csikszenthihalyi, 2003).
My neighbor owns a car dealership business and sells mostly second hand vehicles. His main competitor is another car dealer, who sells new and expensive vehicles. The problem that I witnessed was that my neighbor tried to sabotage the competitors business by spreading false rumors concerning the former’s vehicles. He claims that the vehicles are not road worthy, are faulty, among other issues. My neighbor ought to know that the target market for the both of them is entirely different, which is believed is a brutal fact. He needs to realize this and have an unwavering faith that his business will succeed. More should be done by him to find a strategy that can help his business to succeed, using only an ethical and Christian approach. My neighbor should ensure that he is honest and shrewd, so that he can know how to attract customers to his car dealership business.
The third concept is provided by Richard Chewning concerning ‘What does the Lord God require of you’. This concept means that Christians, who own businesses, should run them based upon what is demanded by God, and this information is found in the Holy Bible. According to Chewning, the world view on Christianity is applicable to many businesses. The Bible provides the needed information for ensuring that decision making is effective. Justice, integrity, and ethics, are possible to be achieved in any business, and this is what is commanded of Christians. Jesus Christ demands that people engaged in business practices are disciplined, just as Collins seems to believe. This is because when people are disciplined they will have everything in the right order. It will be difficult for them to diverge from their business dealings and engage in others issues, which are sinful. Every Christian is requested to behave in the same manner that Jesus would have when he was still on earth. From the bible teachings, it is evident that Jesus Christ is a role model who only has positive aspects (Chewning, 1990).
Justice is the main theme in doing what God commands, and this is in the Book of Micah chapter six versus eight. It says that “He has told you O man, what is good, and what does the Lord require of you but to do justice, to love mercy, and to walk humbly with your God” (Holy Bible, 2011). The concept by Chewning is applicable to Christians who have businesses. They should conduct their businesses while being well informed about the Christian concepts that Chewning provides in his book. This will help them in making sure that they maintain a healthy environment while working. Christians should attempt to make sure that they are disciplined and have faith that their business will succeed and flourish (Chewning, 1990). I have witnessed many Christians trying to run their businesses without being informed about what God requires of them. In turn, they end up making losses and some of them even become bankrupt. This is because they are not ethical in their business dealings and often just hope to succeed. As Christians, they ought to pray and read the Bible, in order to obtain guidance on how to run their business. They should seek to ensure that their businesses are conducted based on Christian principles.
Conclusion
In conclusion, it is vital that businesses are conducted in an ethical and Christian manner. The latter includes incorporating elements such as justice, discipline, and faith into the business. Businesses that are run by Christians are often differentiated from those that are not, and this is due to the issues involved. Jim Collins has provided elements that are accepted by Christians and are similar to those provided by Richard Chewning. The concepts of discipline, the requirements provided by God as well as knowing facts and faith are extremely vital. It is then that I conclude that integrating Christian concepts into a business is key, and more should be done to create awareness about this matter.
References
Chewning, Robert. (1990). Business through the Eyes of Faith 1st Ed. New York: HarperOne.
Collin, Jim. (2001). Good to Great: Why some companies make the leap and others don’t. New York: HarperBusiness.
Csikszenthihalyi, Mihaly. (2003). Good Business: Leadership. Flow, and the Making of Meaning. Colorado: Viking Adult.
Ferrel, O. & Hartline, Michael. (2007). Marketing Strategy. Colorado: South western pub.
Holy Bible. (2011). New King James Version. . Oxford: Oxford University Press.
Dorothys article, Seven characteristics of highly effective adult learning programs
Reflective Essay
(Author’s name)
(Institutional Affiliation)
Introduction
Dorothy’s article, Seven characteristics of highly effective adult learning programs, is about the association that occurs between learning and growth. The author bases her arguments on the fact that today’s world is characterized by an accelerated rate at which technology and knowledge develops, and the fact that individuals need to continually rejuvenate their skills and knowledge in order to stay relevant. The author carried out a survey that was meant to determine the best environment for adults to learn and develop. The author discovered that learning must, and is usually closely associated with learning (Billington, n. d). This article will summarize in brief the contents of Dorothy’s article and relate the key information of the article with the common social and educational experiences at school.
After the research, the author came up with seven key factors that she believed stimulated the development in adults. The factors included an environment that supports the student, their uniqueness and, therefore, an environment that allows respects the students by offering them freedom in intellect, and an environment that allows students to be creative and to experiment; an environment that treats students as peers or associates; a setting that lets learners to be accountable for their own development and learning; an environment that provides the adult students with an intellectual challenge; an environment that allows students to be active participants; as well as, an environment that allows for regular mechanisms of feedback to be put in place for the students (Billington, n. d).
Dorothy argues that the environment plays a very essential role in the intellectual development and learning of an individual. Her arguments are that if a student does not feel comfortable enough, or respected, or threatened or unsafe then it is likely that those students will not effectively learn or develop as required. Any student can identify with her arguments. If a student does not have enough confidence in class, then it is likely that the student will fail in class because they do not participate adequately in class activities that help them understand. For example, I would not participate in class activities if the rest of the class laughed at my answers. I would also not feel comfortable, and; therefore, I would not be able to learn adequately if my teacher did not give me enough time to experiment and be creative about what I have learned in class. My peers are also highly significant in my learning process. If I am not a social person, and if the other students do not like, then it is possible that I would feel uncomfortable to participate in class and learn. If a student does not feel safe enough or respected enough in class, then their performance in class might deteriorate (Billington, n. d).
Annette Bell asserts in her article that the environment does affect our learning process. She also goes on and stresses some points expressed by Dorothy that, for students to learn, they must first feel comfortable with their teacher, with themselves and with the other students. She further points out, just like Dorothy, that students must be actively be engaged in their learning process, and that their learning environment must be supportive of their physical requirements for perfect development and learning. Further Bell points out that the classroom is very critical as it the environment where the construction of meaning of an individual takes place (Bell, n. d).
Conclusion
The environment has been indicated to be among the most essential requirements of effective learning and development in both children and adults. Dorothy points out that the environment must be conducive enough for the student to learn adequately.
References
Bell, A. (n. d). Creating learning centered environment. Tompkins Cortland Community College. Retrieved from http://www.dialogueonlearning.tc3.edu/model/environment/introduction-grp.htm
Billington, D. D. (n. d). Seven Characteristics of Highly Effective Adult Learning Programs. Retrieved from http://home.avvanta.com/~building/lifelong/workplace/billington.htm
Executive Summary of Oxford Industries, Inc. (OXM)
Executive Summary of Oxford Industries, Inc. (OXM)
Jeff Nelson
MBA 625
Section 1
FALL
2009
Oxford Industries, Inc.
1/31/2009
Company background and information
Oxford Industries Inc., which trades at the NYSE bourse under the symbol OXM, is one of the major apparel manufacturers in America. It traces its history to 1942 when it was founded by three Nashville-bred brothers. However, the brothers had started a venture eight years earlier, which involved production and selling of business forms and Dictaphones (OXM Website).
The business exhibited a steady growth over the years and in 1943, it purchased a manufacturing facility, at which time it was now based in Oxford, Atlanta. The demand for the company’s products grew as the World War II ended. With the post-war recession biting on every sector of the economy, businesses had to device methods of survival and growth. The company formed a growth strategy that saw it grow steadily through the post-war recession expanding steadily in the market. It was on three stock exchanges in 1960 when it went public with a public offering of 240, 000 shares. By this period, the company was making annual sales of 31 million dollars with a workforce of over 3,000 employees. The number of preferred stocks for the company currently stands at 30 million shares of $1.00 par value.
The company’s sales continued to grow rapidly as it bought other companies and manufacturing plants. The sales however dropped considerably in mid 70s when as one of its affiliate’s publicly- held company went public on the NYSE. In early 80s, the company saw an upward growth though this growth hit a slump in the mid of the decade because of various reasons originating from management issues. Due to extensive inventories and ineffective financial controls intermarried with the peak in popularity of the company’s fastest growing labels, the company saw three years of reduced sales. Because of these problems, plants operated below capacity while the inventory sell-offs ate into profits.
The company has its headquarters at 222 Piedmont Avenue Atlanta, GA 30308 in the United States. Presently, the company has an employee force of about 4,000 workers and produces apparel products for the US and the UK markets. It has extensively diversified its product lines though maintaining the clothing industry.
Current Market Performance
As of 21st of October 2009, the stock performance for OXM on the stocks market witnessed a high of $23.50 for a share and a low of $ 22.94. The average closing share price for the company was $22.94 as of 21st of December. With an average share volume of 164, 000 being traded, the company had a market capitalization of $378.95 million. The company does not sell its shares directly to the buyers but those wishing to buy the shares do so through a stockbroker.
Operational Performance and Financial Analysis
With respect to the company’s quarterly total revenue, the revenues have been declining steadily over the last four quarters. The quarter that ended November 1, 2008, the company registered total revenues of 244.186 million dollars with a cost of revenue of 150.557 million dollars (Wood and Sangster 2005). Total revenues declined to 199.868 million dollars in the next quarter with a cost of revenue of 110.006 million dollars. In the quarter that ended August 1, 2009, the company registered total revenues amounting to 192.887 million dollars while the previous quarter was 216.731 million and cost of revenue of $114.344M and $126.960M respectively.
The gross profits also declined steadily over the four quarters. However, the gross profits were more than the operating expenses registered leading to operating income except for the quarter extending 2-Nov-08 to 31-Jan-09, which recorded a heavy operating loss amounting to losses for all the $302.973M. On an annual basis, the trend has almost been the same over the last three years. The company registered $433.109M drop in total annual revenues over the revenue the previous year.
Profitability Trends
Profit margin (Net Income/Revenues)*100
In 2007, profit margin (1-Jun-07)
(52,137/1,128,907)*100
= 4.6184%
In 2008, profit margin (2-Feb-08)
(19,215 /695,798)*100
= 2.7616%
For 2009, profit margin (1-Jan-09)
(265,812)/947,516*100
-28.0536%
In 2007, with a profit margin of 4.618% this implies that for every dollar of sales made by the company, $0.0462 was a net income. For the company’s 2008 financial year, every dollar of sales contributed a net income of $0.0276. This was a drop in the profitability of the company as compared to its previous financial year. The same year saw the company experience several financial difficulties, which made its operations less profitable. Thus for the financial year ended 1-Jan-2009, the company’s sales resulted to a net loss of $.2805 for dollar of sales made.
With respect to the company’s liquidity, the company’s liquidity ratios over three-year period are as follows:
Current Ratio
Current ratio = (current assets/ current liabilities)
1-Jan-09
228,289/106, 8333
= 0.21368711815510706867615247305849
= 0.214
2-Feb-08
298,099 /156,417
= 1.9057966845036025495949928716188
= 1.906
1-Jun-07
334,241 / 142,444
= 2.3464729999157563674145629159529
= 2.345
From the above results, it is evident that the company’s present standing poses a great danger since the current ratio falls below one. This could mean that in case its short-term obligations come due in a short period, the company may not be able to cover them and therefore it is likely to face more financial difficulties (Wood and Sangster 2005). The trend further indicates a persistent fall in the current ratio value. A further look at the acid-test ratio may give a better understanding of the company’s position in relation to its ability and capacity to handle its short-term obligations.
Acid-test ratio = (Current Assets less inventories)/Current Liabilities)
31-Jan-09
(228,289 – 129,159)/106,833
= 0.92789681091048646017616279613977
= 0.93:1
2-Feb-08
(298,099 -158,925)/156,417
= 0.88976262170991644130753051138943
= 0.89:1
1-Jun-07
(334,241 -137,333)/ 142,444
= 1.3823537670944371121282749712168
= 1.38:1
From these figures, it is evident that Oxford Industries Inc. has not been able to cover its short-term obligations (the current liabilities) fully as they fall due. Even the figure for the year ended 1-Jun-2007 does indicate that the company was at great risk of any slight change in its current assets or any slight increase in current liabilities.
In order to examine the company’s activity, the asset turnover ratio is defining to help in understanding how far the company’s management utilizes the invested assets.
The asset turnover ratio = Revenue/Assets
31-Jan-09
947,516 /473,494
= 2.0011151144470679670703324646141
= 2.001
2-Feb-08
695,798/910,272
= 0.76438471138297124376010686915559
= 0.764
1-Jun-07
1,128,907/908,738
= 1.2422799530777847960578296494699
= 1.242
There seems to be no consistency in the decision of converting invested assets into revenue. The company has an investment grade of BB- as rated by Standard and Poors, which means that it most likely faces major uncertainties that might expose it to further adverse conditions; economically, financially and business-wise. This also implies that the business may not have adequate capacity to meet its financial commitment (Robertson 2007). Based on the analysis carried out and the information available from various sources, the company needs to adopt a more stringent credit management strategy.
Works Cited:
Wood F., and Sangster, A., (2005) BUSINESS ACCOUNTING 10th Edition Financial Times/ Prentice Hall.
Robertson, V. (2007) Focus on Finance http://www.yovich.co.nz/finplan/20070918.php
Oxford Industries Company Website Accessed on Thursday, October 22, 2009 from URL: http://www.oxfordinc.com/CG_ECP.asp