phil 215 - First Essay

phil 215 - First Essay - 20229611 Page 1 of 8 First Essay...

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20229611 Page 1 of 8 First Essay Phil 215 Kurt Holukoff 6 June 2011 Vyvy Ta 20229611
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20229611 Page 2 of 8 If you were to look around you, would you be able to find an item that could not be traced back to a corporation? The answer is probably no. Even the paper that this is printed on came from a factory managed by a large company. The printer that printed this paper might even be from the same company as well. In the past, corporations were interested in increasing their value through shares and shareholders. [1] Corporations are now working to please more than the owners. They are looking at stakeholders as an important aspect to their success. Stakeholders are shareholders, but they are also other groups that are legitimately connected and interested with the corporation. [3] These groups can be the factory workers, consumers, and even nature itself. [1] Corporations must make decisions within their company and take into consideration the opinions and impact it may have on these other groups. [1] Corporations are no longer only working to make profits, but are working to improve relations within and around themselves. Although stakeholders are important, corporations must please them while working within their business model. A business model is how a corporation operates and makes profits. A very successful model so far is the bait and hook. A bait and hook usually involves two products. [4] The bait product is usually a low cost basic product that is sold at a loss in profit. [4] The hook product is a service or secondary product that is required to use the bait. [4] For example, cell phones are sold at a low price if they are coupled with a three-year contract. The three-year contract will ensure that the corporation will make back the lost profit from the phone and more profit on top of it. Another example is razors and blades. Razors need only to be bought once, while the blades to refill them must be bought continuously and are more
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20229611 Page 3 of 8 expensive than the razor itself. [4] As a business manager, one must make management decisions while fitting into their business model. One way to approach issues or conflict in a corporation is through principled negotiation. For instance, an international bank would like to attract more customers to use their high end services. However, there are many other local banks that offer similar services at lower prices. A business manager must come up with an idea to entice consumers and get more business for the bank. The first step is to separate the people from the problem. [2] What that means is that
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This note was uploaded on 03/12/2012 for the course PHIL 215 taught by Professor Wilding during the Winter '08 term at Waterloo.

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phil 215 - First Essay - 20229611 Page 1 of 8 First Essay...

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