Why Businesses Should Invest in More Than One Profit - Essay Example

Name: Instructor’s Name: Class: Date Why Businesses Should Invest in More Than one Profit. The current situation in the business market has left business investors with no options in their businesses but to engage themselves in activities which bring more than one profit. This is achieved through the diversification of the business activities. This is attributed to different challenges in the business market including the uncertainties in the investing environment, global and economic changes. Therefore, to remain in this field, business people adopt diversifying their businesses in order to reduce the risks and increase their profits. When an organization invests in more than one profit it act as a survival strategy in the competitive market. This is through maintaining its state despite the challenges affecting its other business units (Hitt et. al.pg. 88). Businesspeople adopt the diversification of businesses in order to increase their profits by adopting various strategies which will ensure their success. Natural progression is one of the methods which can be used to invest in more than one profit in a business organization. The process involves improving radically on the nature of goods and services provided to the customers over a given period of time. The strength of the new brand can also be used in this strategy to increase the sales of the new product hence, increasing its profit. Businesspeople can also determine the nature of the demand and supply chain in order to enable them identifies the prevailing opportunities in the market (Hoskisson pg. 22). Investing in more than one profit is beneficial to both the customers and the larger society since it ensures that new products are available to them in the market. Additionally, the company may decide to invest in more than one profit as a means of extending the reputation of their new products into different markets increasing their products sales. Businesses decide to diversify their activities in order to increase their sizes and reputation which in turn increases the profits gained from these diversified activities (Hoskisson pg. 54). `Furthermore, businesses may decide to invest in more than one profit in cases of them making bulk of sales at specific period of times. Therefore, to maximize the income, the businesses may decide to invest in more opportunities by creating other branches hence, maximizing profits. Investing in more than one profit is beneficial to any business organization since it facilitates its growth due to the increased volume sales and high profit income from these sales. Through investing in more than one profit the businesses will be able to utilize fully the existing resources and its capabilities (Hitt et. al.pg. 187). Investing in more than one profit will allow the organization divert from the undesirable business investments and capabilities which promotes its growth. Additionally, the process will allow the organization acquire increased cash surplus which can be invested in other sectors hence, promoting the growth of these organizations. The business will be able to achieve high scope and economies of scale which will increase its competitiveness. Through investing in more than one profit, the business organization will be able expand their products and services provision into new business environments (Hoskisson pg. 67). In addition, investing in more than one profit is important in every business organization since it will enable it to have a continued growth in cases of business decline and maturity. The process will allow the business reduce he challenges of cyclical fluctuations associated with its cash flow and sales revenues. This method of investment will allow the organization come up with a portfolio which secures various assets in the organization. Moreover, investing in more than one profit reduces the risks faced in an organization since it enables it have different choices to invest in hence, reducing the risks (Hitt et. al.pg. 222). In conclusion, investing in more than one profit is one of the methods which business people should invest in due to the advantages associated with it. These include reducing the risks in the organization, enhancing its growth, competitiveness, and reputation among others. Therefore, the mangers should carefully choose on the business venues to invest in which will diversify the source of organization’s profit. To achieve this, they should conduct a company’s situational analysis to effectively determine its strengths and weakness in relation to the newly adopted method of investing in more than one profit. What I value In a Career. Values in a carrier play a great role in determining the nature of its employees functioning and the quality of the services being provided. Therefore, this section tries to analyze some of the attributes I value in any career. One of the factors I value in a career is its dedication to holistic services provision to their clients. Holistic services provision ensures that the consumers’ needs are met taking into consideration the good of the general community. This holistic care may be provided through collaborative approach in the process of decision making in order to benefit all in the society (Corey and Schneider pg. 37). Moreover, I value the social responsibility in a career. This is demonstrated by its professionals’ dedication to quality service provision through creativity aimed at improving the client’s outcomes and satisfaction. The compassion in the provision of their services is highly appreciable since it provides emotional and psychological support to those individuals in need of these services. I value a career where by the client’s rights are respected and taken care of. This includes taking into consideration factors including, consent, privacy, and dignity and information confidentiality (Patton and McMahon pg. 85). In addition, I value the justice involved in the provision of services to the customers in a career. This involves advocating for the clients rights, respecting, and the providing responsive services to them. I also value the professional accountability associated with a career. This involves proper record keeping and documentation of clients’ information. I value the self-enquiring practiced by the professionals in a career. This is important since it allows individuals to identify ways in which their insights can help them revitalize the quality of services they provide and enhancing their lives. I also value the adoption of collaborative decision making process adopted by the professionals in a career. This includes involving the client, their families and other professionals in deciding on the nature of the services which should be offered to achieve the desired outcomes (Corey and Schneider pg. 77). I also value the spirit of client centeredness in a career. This entails providing services with a specific aim to enable the clients achieve optimal satisfaction from the services offered to them. Convenient service provision to their clients is one of the key objectives in a career. I value it since it ensures that people have access to various services with less cost as possible. I also value the ethics associated with a career. These ethics are important since they regulate its professionals when practicing and decision making. These ethics include justice, confidentiality, veracity and informed consent among other ethics (Corey and Schneider pg. 43). Furthermore, I value the honesty displayed by professionals in a career. This includes being honest to their clients and the organization which reflects their autonomy towards their career. Career provision to its esteemed customers and employees is another objective of a career. I value this since it enables the building of their employees and clients’ knowledge and skills capabilities. I value the recognition of the professionals in a career. These involve recognizing them through job advancements, appreciation, and increasing the amount of wages earned among other forms of recognizing them (Corey and Schneider pg. 67). I also value the quality customer care services provision in a career. This includes responsive, compassionate and effective customer care services aimed at addresses its client’s problems. The value of fairness in this career has greatly promoted its reputation to the external environment. This is evidenced by the manner in which its members respect themselves, customers and their organization. I value the professionals in a career dedication to working towards sustaining the career’s and the organization’s reputation hence, attracting possible investors to the organization (Patton and McMahon pg. 45). Moreover, l value the ways in which the professionals in a career function. This includes working in accordance with the stated legal requirements. These involve avoiding activities such as unfair competition, antitrust, contributing to political activities and commercial bribery among other practices. The professionals’ dedication to upholding the organization’s culture and that of the career is highly appreciable since it ensures that the stated goals and objectives are achieved within the stated period of time (Patton and McMahon pg. 54). In conclusion, business values play a great role in determining the organization’s performance. Values ensure that the organization’s reputation is upheld, clients are respected and their needs met, promoting accountability and the overall improved performance in these organizations. Therefore, organizations’ management should adopt various methods of promoting the upholding of values in their organizations. This can be achieved through recognizing the employees’ performance and also providing training services to their employees in order to update their knowledge and skills. Meaning of Ethics for My Work. Ethics can be defined as fundamental principles and concepts which regulates the conduct of individuals in an organization. They include equality for all individuals in the society, justice, safety, confidentiality, honesty and social morality among others (Frechette pg. 54). As a future profession in the business field, ethics will play a great role in regulating the manner in which I will conduct myself. These ethics will also determine the quality of the services I will provide to the general public. Therefore, the sections that follow in this paper will analyze the roles which ethics will play in my career (Fraedrich and Ferrell pg. 100). Controlling the process of decision making is one of the importances of ethics to my career. This is through regulating the directions I will take when deciding on the best methods of intervening to a problem. Therefore, ethics will enable me adopt a method which will be beneficial to the client, organization and myself. Conducting myself in the required ethical behavior will be beneficial to the organization since it will ensure that customers are attracted to the organization increasing its performance (Fraedrich and Ferrell pg. 118). Conducting myself in accordance with the organization’s ethical requirements will act as a source of job satisfaction, reducing the chances of boredom associated with the job. Ethical behavior will enable me to build trust among the clients, colleagues and the organization promoting my confidence in my job position. Behaving in accordance with the ethics of an organization will reduce the chances of me being laid off from my position due to the trust built with the organization. Ethical behavior in an organization will enhance the organization’s social responsibility. This occurs mainly through building positive image to the surrounding society hence, promoting its performance (Fraedrich and Ferrell pg. 124). As employees working in an organization, ethical behavior will boost the organization’s performance. This will occur through the attraction of various investors keeping the organization’s performance high preventing the organization from takeover. Additionally, our ethical behavior will attract a high number of employees who will be willing to work for the organization. The organization will benefit through the reduction in the costs of recruitment (Frechette pg. 54). My ethical behavior in an organization will act as a source of personal motivation. This occurs through the provision of services which meets the clients and organization’s needs hence, acting as a source of motivation due to job satisfaction. Ethical behavior will enhance my job autonomy. This will be linked with the varied range of freedom I will be granted to execute my duties and make decisions. As a future manager, ethics will enable me understand the various methods of ensuring that other employees work in accordance with the desired behaviors (Frechette pg. 65) In conclusion, ethical behaviors play an important role in an individual’s contribution in an organization. This behavior enables employees to practice in accordance with the societal requirements. It is only through behaving ethically in an organization that, an individual will acquire the necessary skills for running and managing the organization. Therefore, managers should work in an organization to see that its employees work in accordance with the stated ethical behaviors. This is important since it will enable the organization and these individuals realize their goals. Additionally, employees should adopt the ethical behaviors so that they gain motivation from their daily activities and help the organization reduce the turnover rates. Works cited Corey Gerald and Schneider Marianne. I Never Knew I Had a Choice: Explorations in Personal Growth. Brooks Inc. (2010). Print. Fraedrich John and Ferrell Linda. Business Ethics: Ethical Decision Making and Cases. Cengage. (2011). Print. Frechette Shrader. Research Ethics of Scientific Research. Rowman and littlefield. (1994). Print. Hitt Michael, Ireland Duane and Hoskisson Robert. Strategic Management: Competitiveness & Globalization Concepts. Cengage (2011). Print. Hoskisson Robert. Competing for Advantage. South-Western. (2008). Print Patton Wendy and McMahon. Career Development and Systems Theory: Connecting Theory and Practice. Sense Publisher. (2006). Print. Read More