Question

In: Accounting

Apply Sociology of Organization and contribution of ADAM SMITH to any company, business or a product...

Apply Sociology of Organization and contribution of ADAM SMITH to any company, business or a
product of your choice

Solutions

Expert Solution

Adam Smith defines the business enterprise primarily as the endeavor of an individual who remains fully embedded in the broader society and subject to its moral demands. For him, the conceptions of the local community and its normative framework, of the enterprise, and of the individuals within it need to be aligned with each other and developed together.

Over time, four processes have, however, led to a widening gap between the business world and the local community. These are

(1) the dissemination of the corporate model,

(2) the transformation of the entrepreneurial role toward an agency role,

(3) changes in the ownership structure, and

(4) changes in the relation to the local community.

Adam Smith’s integrative conception of business and its contributions to the development of integrative theories of organizations and of business–society relations in the twenty-first century. Among others, it discusses the necessity to develop a normative-relational dimension of organizations that addresses the relations between the organization, its members (e.g., owners and managers), and the normative framework of the local community. This integrative approach of business–society relations challenges current business ethics research which often suggests that solutions to the current scandals lie either within the framework, the organization, or the individuals.


Related Solutions

Adam Smith argued that all business is local. Explain what this means, including the evolution of...
Adam Smith argued that all business is local. Explain what this means, including the evolution of the concept.
Fish, Inc., an exempt organization, reports unrelated business income of $500,000 (before any charitable contribution deduction).
Fish, Inc., an exempt organization, reports unrelated business income of $500,000 (before any charitable contribution deduction). During the year, Fish makes charitable contributions of $54,000, of which $38,000 is associated with the unrelated trade or business.  a. Calculate Fish’s unrelated business taxable income (UBTI).  b. Express your computation in part (a) as a Microsoft Excel formula.  c. Assume instead that the charitable contributions are $41,000, of which $38,000 is associated with the unrelated trade or business. Calculate the UBTI.  ...
Apply the marketing mix (4 Ps) to any company/product you wish to sell in the market....
Apply the marketing mix (4 Ps) to any company/product you wish to sell in the market. 20 marks What accounts are on the balance sheet? What is format of balance sheet? 5 marks
You will submit a proposed company/business for your project for approval. This can be any organization...
You will submit a proposed company/business for your project for approval. This can be any organization that would benefit from a marketing plan. Your team will assume the role that you have been hired to create a marketing plan for this organization. This organization is now your client. The first group assignment will be a written document, not to exceed two pages (single-spaced), providing the following information:  Group Members  Business Name  Product/Service Description  Information Resources (i.e.,...
Apple organization like any other business organization is required by the law to function according to...
Apple organization like any other business organization is required by the law to function according to the stipulated ethics so as to respond effectively to both internal and external triggers of change. These ethics are important in an organization since it expresses the values an organization has to its workers and to the general public. The elements which have contributed to this organizations excellent performance in the competitive market include respect for the clients, honesty and trust among other ethics....
THE SMITH COMPANY Using the business transactions below, complete t-accounts for the Smith Company. I have...
THE SMITH COMPANY Using the business transactions below, complete t-accounts for the Smith Company. I have provided a blank sheet of t-accounts as an attachment to this assignment. The company started business on June 1, 2019. a. John Smith, owner, invested $120,000 cash in the company. b. The company purchased $10,000 of office equipment on credit. c. The company billed a customer $2,000 as fees for services provided. d. The company paid $1,000 cash for the monthly rent. e. The...
Select any one business organization (for-profit organization of your choice). What is the strategy used by...
Select any one business organization (for-profit organization of your choice). What is the strategy used by that organization? What is the mission of that organization? Choose Walmart. **please cite sources. Thank you**
What is glocality, and how would you apply the concept to any product or service of...
What is glocality, and how would you apply the concept to any product or service of your own choosing? What is the benefit to business of glocality?
Smith Company started business on September 1. Smith had credit sales of $200,000 in September and...
Smith Company started business on September 1. Smith had credit sales of $200,000 in September and $300,000 in October. The pattern for collection of cash from customers is expected to be 40% in the month of sale (subject to a 2% cash discount), 50% in the month following the month of sale, and 7% in the second month following the month of sale, with 3% uncollectible. How much cash did Smith Company receive from customers on account during October?.
Smith Company started business on September 1. Smith had credit sales of $200,000 in September and...
Smith Company started business on September 1. Smith had credit sales of $200,000 in September and $300,000 in October. The pattern for collection of cash from customers is expected to be 40% in the month of sale (subject to a 2% cash discount), 50% in the month following the month of sale, and 7% in the second month following the month of sale, with 3% uncollectible. How much cash did Smith Company receive from customers on account during October?
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT