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It aims to increase and regulate trade between the countries through minimizing and eliminating tariffs and duties on products and services. (Foundation)
European Union is an economic and political jointure that consists of 27 of European countries. Established in 1993, it aims to establish a single market through a standardized set of laws that all member countries have to adhere to. The laws mainly come under the domain of trade, fisheries, agriculture and regional development.
Ethics refers to code of principles and values that direct a person’s actions in his personal or business life. It, basically, means knowing the difference between what is right and what is wrong and then choosing the right way to do things.
Social responsibility refers to an ethical ideology that says that any individual or organization has an obligation to the society. Any individual, company, or country should act in a way that inflicts the least amount of harm or damage to its environment and must take steps that are beneficial to the society as a whole.
The main purpose of any business is to maximize gains and minimize losses. In a non-profit-organization, however, these gains are not monetary. Nonetheless, the sole purpose of the existence of any business is to make profits. Therefore, this should be given highest priority.
However, it is also the firm’s responsibility to abide by the particular state’s rules and regulations, standard, and moral obligations as well. Failure to do so, in the long run, affects the very purpose of the firm i.e. making profits. Therefore, the firm should not only be focused on making profits and should adapt its offerings and procedures to the regulations and other moral obligations even if that translates into some additional costs and compromise on the profits.
The creditors – all lenders such as banks, shareholders, investors, etc. must be paid back or
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In understanding this method of fiscal control, it is important to understand the meaning of ‘public’. As well, in determining the differences between public administration, public governance, and public management, the definition of public management, while varying across many scholars, can become a bit more clear.
Adoption of the country’s culture is essential and plays a big role in the success of the organization. In this case the company has acquired a manufacturing plant outside Kuala Lumpur and thus it becomes necessary to deal with the cultural shock so as HR professional it is necessary to select as well as train people.
Businesses are of different forms of ownership, one of such form is partnership. One of the major advantages of forming a partnership is that capital can be easily raised as different partners will invest capital on their own. Increase in the ability to generate more capital for running the business leads to increased profits.
advantage will only occur, when the factor conditions, the supply and demand conditions, as well as related and supporting industries, and the local market are in favor for comparative advantage. Since diamonds do not meet up with these conditions anymore, diamonds have
access to approximately 4 billion consumers across the world, and over 300 million consumers domestically in the United States of America (Roberts & Berg, 190).
Despite being recognized both domestically and internationally as the largest discount store in the United States,
Being responsible for the welfare of the employees means that the human resource department has a direct effect on the outcome of the organization because this department determines how motivated the employees are and how satisfied they are with their jobs. Here, this
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