The Assess Model of Intellectual Capital and a Company's Value Added Cohesion Nowadays intangible assets are especially important in every company and can help to increase a company's value added. The importance is so huge that many companies invest more money in intellectual capital than in material assets. Why has this happened? Scientists answer this question very quickly and easily - many companies have already been disappointed and damaged by their materials, goods, equipment, buildings, cars, machinery that (...) cost a lot of money but do not give effective productivity. On the contrary, intellectual capital that usually costs only the salary of an employee brings significant benefits. The research purpose is to evaluate the cohesion between intellectual capital and a company's value added and to provide the model of this cohesion. The methods used are analysis of scientific literature, GBN matrix method, expert evaluation, average comparison method, and Kendall's coefficient of concordance. Scientific aims: to reveal the cohesion between intellectual capital and a company's value added; to introduce a model of a company's value added and its intellectual capital; to demonstrate the results of expert evaluation on the model of intellectual capital and a company's value. The findings are as follows: intellectual capital is considered as a unit of social capital, communicational capital, and psychological capital; intellectual capital has a huge influence for the growth of a company's value added; employee motivation is the most important factor either for the growth of intellectual capital or a company's value added. Conclusions: expert evaluation was performed in order to investigate the importance of intellectual capital factors for the growth of intellectual capital itself and a company's value added. Experts were taken from two areas: business environment and academic environment. It is possible that experts from other environments could answer the questions in a completely different way, and this model could be improved even more. (shrink)

The advent of new antiretroviral medicines means that the effects of HIV can now be curbed, but only one in twenty infected people have so far benefited. For those living in developing countries, the new treatments are practically unattainable. Governments, UNAIDS and pharmaceutical companies recognise this only too well and have rethought established assumption in order to try and overcome the challenges posed by cost, inadequate health services and unreliable local supply of medicines.

In recent years, a growing number of small-to-medium-enterprises are embracing wind turbine projects not only as part of their cost reduction strategy but also to actively play their part in the global fight against climate change. However, it would appear there are currently limited empirical studies carried out in this emerging industry. This case study analyses the cost effectiveness of one such wind turbine initiative by a company in the Republic of Ireland, who invested in a 300 (...) kW embedded wind turbine project at the end of 2013. The research methodology which is primarily a case study analysis included comparing historical electricity utility bills which allowed the 2013 quantity of electrical energy units imported, i.e. the year before the turbine was installed to be compared with the 2014 value, i.e. the year after the turbine was installed. Numerous site visits were undertaken over a four-year period, during which electric meter readings were recorded and stored. The findings of this piece of research indicate that the installation of the embedded wind turbine had minimal positive effect on the annual electricity costs for the company. Indeed the turbine appears to have significant negative effects such as a need for an increased maximum import capacity and also it appeared to contribute to a deteriorating utility power factor. While the aesthetic nature of the on-site turbine seemed to create a positive image of the company, it would appear that caution should be exercised when business owners select alternative energy providers who claim to be experts in the energy field but may have limited knowledge in this area of wind energy, which as of yet has minimal robust research into all aspects of its benefits/attributes. (shrink)

With the rapid development of market economy, the task scheduling model has become the core problem in the field of corporate management. In order to solve the problem that the stability of the model will decline due to the interference of human factors in the process of multitask scheduling in the traditional algorithm, a reasonable scheduling model based on the priority principle is proposed in this paper. This paper expounds the principle of multitask scheduling in company management, constructs a (...) multitask scheduling network model based on priority, performs virtual scheduling on the model, searches the optimal solution in the solution space of the scheduling problem, and obtains the reasonable multitask scheduling method in the company management. Through the analysis of relevant simulation experiments, it can be concluded that the task scheduling algorithm proposed in this paper can not only allocate the corresponding resources for high-priority tasks effectively, but also can save the cost, so as to show better execution efficiency. (shrink)

Environmental degradation and extractive industry are inextricably linked, and the industry’s adverse impact on air, water, and ground resources has been exacerbated with increased demand for raw materials and their location in some of the more environmentally fragile areas of the world. Historically, companies have managed to control calls for regulation and improved, i.e., more expensive, mining technologies by (a) their importance in economic growth and job creation or (b) through adroit use of their economic power and bargaining leverage against (...) weak national governments, regional and international regulatory bodies. More recently, the industry has had to contend with another set of challenges that involved treatment of indigenous people and their traditional land rights, fair treatment of workers, human rights abuses, and bribery and corruption involving local officials and political leaders. These challenges currently fall outside the traditional areas of regulation and control. Nevertheless, they pose serious threat to the industry’s business practices because of their global scope, threat to company’s reputation, and long-term risks of political instability leading to increasing cost of capital. Industry has responded to these challenges by creating voluntary codes of conduct that would signify their intent to comply with higher standards of conduct, and assuage public opinion that no further action is called for. These codes, however, lack any monitoring mechanism and reporting integrity to assure the public that the industry members are indeed meeting their commitments. Consequently, pressure on the industry continues unabated and with ever increasing calls for mandatory regulation and oversight. This article examines the activities of one mining company, Freeport-McMoRan Copper & Gold, Inc., which has taken a radically different approach in responding to these challenges at its mining operations in West Papua, Indonesia. While cooperating with industry-based efforts of voluntary codes of conduct, Freeport also initiated a radically different response through its own voluntary code that would directly focus on issues of human rights, treatment of indigenous people on whose traditional land its mine was located; economic development and job creation and, improvements in health, education, and housing facilities, to name a few. Additionally, the company earmarked large sums of money and involved representatives of the indigenous people in their management and disbursement. The company took an even more radical action when it committed itself to independent external audits of the company’s compliance with the code, and that these findings and company’s responses would be made public without prior censorship by the company. We analyze the nature of corporate culture, vision and risk-taking propensities of its management that would impel the company to embark on a high risk strategy whose outcomes could not be predicted with any degree of certainty before the fact. The parent company also had to confront discontent among the management ranks at the mine site because of cultural differences and management styles of expatriates and local (Indonesian) managers. Finally, we discuss in some detail the extensive and intensive character of a two phase audit conducted by the outside monitors, their findings, and the process by which they were implemented and reported to general public. We also evaluate the strengths and challenges posed by such audits, their importance to the company’s future, and how such projects might be undertaken by other companies. (shrink)

This study examines the social impacts of labor-related corporate social responsibility (CSR) policies or corporate codes of conduct on upholding labor standards through a case study of CSR discourses and codes implementation of Reebok – a leading branded company enjoying a high-profiled image for its human rights achievement – in a large Taiwanese-invested athletic footwear factory located in South China. I find although implementation of Reebok labor-related codes has resulted in a “race to ethical and legal minimum” labor standards (...) when notoriously inhumane and seriously illegal labor rights abuses were curbed, Chinese workers were forced to work harder and faster but, earned less payment and the employee-elected trade union installed through codes implementation operated more like a “company union” rather than an autonomous workers’ organization representing worker’ interests. In order to explain the paradoxical effects of Reebok labor-related codes on labor standards, I argue the result is determined by both structural forces and agency-related factors embedded in industrial, national and local contexts. To put it shortly, I find the effectiveness of Reebok labor-related codes is constrained not only by unsolved tension between Reebok’s impetus for profit maximization and commitment to workers’ human rights, but also by hard-nosed competition realities at marketplace, and Chinese government’s insufficient protection of labor rights. Despite drawing merely from a single case study, these findings illuminate key determinants inhibiting the effectiveness of labor-related CSR policies or codes in upholding labor standards, and hence two possible way-outs of the deadlock: (1) sharing cost for improving labor standards among key players in global supply chain; and (2) combining regulatory power of voluntary codes and compulsory state legislations. (shrink)

This study examines the social impacts of labor-related corporate social responsibility policies or corporate codes of conduct on upholding labor standards through a case study of CSR discourses and codes implementation of Reebok - a leading branded company enjoying a high-profiled image for its human rights achievement - in a large Taiwanese-invested athletic footwear factory located in South China. I find although implementation of Reebok labor-related codes has resulted in a "race to ethical and legal minimum" labor standards when (...) notoriously inhumane and seriously illegal labor rights abuses were curbed, Chinese workers were forced to work harder and faster but, earned less payment and the employee-elected trade union installed through codes implementation operated more like a "company union" rather than an autonomous workers' organization representing worker' interests. In order to explain the paradoxical effects of Reebok labor-related codes on labor standards, I argue the result is determined by both structural forces and agency-related factors embedded in industrial, national and local contexts. To put it shortly, I find the effectiveness of Reebok labor-related codes is constrained not only by unsolved tension between Reebok's impetus for profit maximization and commitment to workers' human rights, but also by hard-nosed competition realities at marketplace, and Chinese government's insufficient protection of labor rights. Despite drawing merely from a single case study, these findings illuminate key determinants inhibiting the effectiveness of labor-related CSR policies or codes in upholding labor standards, and hence two possible way-outs of the deadlock: sharing cost for improving labor standards among key players in global supply chain; and combining regulatory power of voluntary codes and compulsory state legislations. (shrink)

Should companies’ human rights responsibilities arise, in part, from their “leverage”—their ability to influence others’ actions through their relationships? Special Representative John Ruggie rejected this proposition in the United Nations Framework for business and human rights. I argue that leverage is a source of responsibility where there is a morally significant connection between the company and a rights-holder or rights-violator, the company is able to make a contribution to ameliorating the situation, it can do so at modest (...) class='Hi'>cost, and the threat to human rights is substantial. In such circumstances companies have a responsibility to exercise leverage even though they did nothing to contribute to the situation. Such responsibility is qualified, not categorical; graduated, not binary; context-specific; practicable; consistent with the social role of business; and not merely a negative responsibility to avoid harm but a positive responsibility to do good. (shrink)

It is commonly assumed that many, if not most, adult children have moral duties to visit their parents when they can do so at reasonable cost. However, whether such duties persist when the parents lose the ability to recognise their children, usually due to dementia, is more controversial. Over 40% of respondents in a public survey from the British Alzheimer’s Society said that it was “pointless” to keep up contact at this stage. Insofar as one cannot be morally required (...) to do pointless things, this would suggest that children are relieved of any duties to visit their parents. In what appears to be the only scholarly treatment of this issue, Claudia Mills has defended this view, arguing that our duties to visit our parents require a type of relationship that is lost when parents no longer remember who their children are. This article challenges Mills’ argument. Not only can children be duty-bound to visit parents who have lost the ability to recognise them, I argue that many children do in fact have such duties. As I show, these duties are grounded in any special interests that their parents have in their company; the fact that visiting their parents might allow them to comply with generic duties of sociability; and/or the fact that such visits allow them to express any gratitude that they owe their parents. (shrink)

Literature on the teaching of ethics points to the need for realistic business problems in which students deal with ethical dilemmas. This paper presents the results of an experiment in which students take on the role of a Brand Manager who must decide on the level of support to allocate to four distinct business problems. The problems were presented as business problems including realistic profit and cost considerations, rather than being posed as "ethics cases". Students were able to select (...) from a range of product support levels for each problem. The experiment isolated the factor effects which included level of realism, degree of competition, company situation in terms of fault and profit level, and problem type relative to damage and visibility. Company fault was the most important factor in determining the level of product support allocations. Allocations generally increased when there was an increase in profit level from low to medium. However, there was no additional increase in allocations above the medium profit level. The paper concludes with suggestions on how the results can be used as a springboard for discussion of the integration of ethical considerations in managerial decision making. (shrink)

The aim of this paper is to shed some light on understanding why companies adopt environmentally responsible behavior and what impact this adoption has on their performance. This is an empirical study that focuses on the United Nations (UN) Global Compact (GC) initiative as a Corporate Social Responsibility (CSR) mechanism. A survey was conducted among GC participants, of which 29 responded. The survey relies on the anticipated and actual benefits noted by the participants in the GC. The results, while not (...) conclusive, indicate that companies have more than one reason for adopting environmentally responsible behavior and that ethical and economic reasons co-exist. In terms of performance, the impact of participation in the GC seems to be particularly high in securing network opportunities and improved corporate image. The results indicate that companies that have participated many years in the GC, have submitted the most projects and have attended the most GC meetings also regard their CSR involvement as having had a strong, positive influence on their market performance. GC participation does not result in significant cost advantages, but this does not seem to have been regarded as a goal anyway. Costs seem to be affected to a␣large extent by existence of in-house research and␣development and the capability of developing environmentally sound technologies. Overall, the company receives both ethical and economic benefits from joining the GC. (shrink)

The question of how an individual firm's social and environmental performance impacts its firm risk has not been examined in any empirical UK research. Does a company that strives to attain good environmental performance decrease its market risk or is environmental performance just a disadvantageous cost that increases such risk levels for these firms? Answers to this question have important implications for the management of companies and the investment decisions of individuals and institutions. The purpose of this paper (...) is to examine the relationship between corporate environmental performance and firm risk in the British context. Using the largest dataset assembled so far, with community and environmental responsibility (CER) rankings for all rated UK companies between 1994 and 2006, we show that a company's environmental performance is inversely related to its systematic financial risk. However, an increase of 1.0 in the CER score is associated with only a 0.028 reduction in its β. (shrink)

Exploration of the political roles firms play in society is a flourishing stream within corporate social responsibility research. However, few empirical studies have examined multiple levels of political CSR at the same time from a critical perspective. We explore both how the motivations of managers and internal organizational practices affect a company’s choice between competing CSR approaches, and how the different CSR programs of corporate and civil society actors compete with each other. We present a qualitative interpretative case study (...) of how a French children’s clothing retailer develops CSR practices in response to accusations of poor working conditions and child labor in its supply chain. The company’s CSR approach consists of superficial practices, such as supplier audits by a cooperative business-organized nongovernmental organization and philanthropic activities, which enable managers to silence more radical alternative models defended by other NGOs, activists, and trade unions. By this approach, the core business model based on exploitative low-cost country sourcing remains intact through self-regulated CSR. Through the case study, we develop a framework of dynamism in competing CSR programs. We discuss the implications of our study for CSR researchers, company managers, and policy makers. (shrink)

BackgroundSince 2006, the genetic testing company 23andMe has collected biological samples, self-reported information, and consent documents for biobanking and research from more than 1,000,000 individuals, through a direct-to-consumer online genetic-testing service providing a genetic ancestry report and a genetic health report. However, on November 22, 2013, the Food and Drug Administration halted the sale of genetic health testing, on the grounds that 23andMe was not acting in accordance with federal law, by selling tests of undemonstrated reliability as predictive tests (...) for medical risk factors. Consumers could still obtain the genetic ancestry report, but they no longer had access to the genetic health report in the United States. However, this did not prevent the company from continuing its health research, with previously obtained and future samples, provided that consent had been obtained from the consumers concerned, or with health reports for individuals from other countries. Furthermore, 23andMe was granted FDA authorization on February 19, 2015, first to provide reports about Bloom syndrome carrier status, and, more recently, to provide consumers with “carrier status” information for 35 genes known to cause disease.DiscussionIn this Debate, we highlight the likelihood that the primary objective of the company was probably two-fold: promoting itself within the market for predictive testing for human genetic diseases and ancestry at a low cost to consumers, and establishing a high-value database/biobank for research and personal information).SummaryBy dint of this marketing approach, a two-sided market has been established between the consumer and the research laboratories, involving the establishment of a database/DNA biobank for scientific and financial gain. We describe here the profound ethical issues raised by this setup. (shrink)

Although contract sugarcane farming is the most dominant and popular land use among farmers in Nzoia Sugarbelt, results from a 2007 study suggests that the intended goal of increasing farmers’ incomes seems to have failed. With a mean monthly income of Kenya Shillings 723 (US $ 10) from an average cane acreage of 0.38 hectares, it would be difficult for a household of eight family members to meet their basic needs and lead a decent life. Analysis of farmer statements showed (...) that up to 86% of the changes in net income were significantly determined by six cost variables as a group (i.e., acreage, tillage costs, seedcane costs, transport costs, yield, and farmer’s education level). Area under sugarcane had the greatest influence on net income whereby an increase in one hectare under cane would result in an increase of Kenya Shillings 110,427 in net income (per crop cycle of 21 months), holding other variables constant. This translates into Kenya shillings 5,258 per month (or 175 per day per household, or for a family of eight people—KES 22 or US $ 0.3) per member, which is far below the international standard of absolute poverty. Key net income depressors were tillage, seedcane, and transportation costs, all of which were determined by the company with no input from farmers. To bridge income gaps between the company and farmers in favor of sustainable community livelihoods, this paper argues strongly for the need to institutionalize Corporate Social Responsibility within the daily operations of the company particularly to address net-income depressors. Ten key building blocks for such a policy for Nzoia Sugar Company are suggested, based on farmers’ responses and ethical considerations. (shrink)

In the article the analysis of modern approaches to labor protection management at different levels, taking into account the dangerous risks at work and at home. This makes it possible to reduce the influence of the "human factor". Presented closed model of labor management, determined the major risks and priorities of the money introduction of the company to reduce accidents, injuries and occupational diseases. Presented the formula for determining risk. Presented the rational scheme of management, map risks depending on (...) the cost, a block diagram of monitoring, evaluation parameters and likelihood of hazardous events. Offered recommendations to the security plan. (shrink)

The recent proliferation of new data and technologies enables increasingly finer personalization of products and prices in every domain. In insurance, this revives and enlarges old debates around fairness that have never been completely settled. We will argue that the commonly accepted “actuarial fairness” as based on the “individual cost of risk” derives in fact from a conflation: while it indicates the average cost for a group of insureds from the perspective of an insurance company—and is therefore (...) sound from a business profitability viewpoint—it is arguable whether it represents the “fair price” for the individual insured. We first show in a historical perspective the intertwinement of conceptions of fairness with knowledge, in order to point to the alternative to actuarial fairness for insurance. We then describe the intrinsic difference between the insured and the insurer when underwriting an insurance contract. Finally, we build on this distinction to discuss the meaning of fairness in insurance prices. We thus hope to re-center the debate around insurance fairness on its underlying solidarity mechanisms rather than technical and actuarial considerations. (shrink)

The high price of drugs is receiving due consideration from ethicists, policymakers, and legislators. However, much of this attention has focused on the difference between the cost of drug development and company profits and the possible laws and regulations that could limit a drug’s price once it reaches market. By contrast, little attention has been paid to the ethical implications of high drug prices for the research subjects whose bodies were essential to the drug’s development. Indeed, the future (...) price of a drug is routinely ignored and treated as unknowable during the ethical evaluation of the clinical trials that support its development. In this paper, I will argue that ignoring the future price of a drug during the research process is in tension with all three of the major principles of research ethics: it fails to show respect for the research participants, undermines the quality of risk/benefit judgements made by ethical review committees, and makes it impossible to judge future patient access and assess justice. (shrink)

The essence of the ethical issues pertinent to business activities is the harm or benefit that occurs as part of a company's resource transformation process. A typology is developed that sorts ethical issues according to three variables: (1) the nature of the harm, (2) the nature of those harmed and (3) the transformation stage where the harm occurs. Propositions are formulated that would enable analysts and practitioners to predict the degree of legal condemnation of, and stakeholder retaliation to, harms (...) generated by questionable moral reasoning. An organizational harm analysis is then constructed as a decision making tool that could supplement cost/benefit analysis. (shrink)

Using panel data of 4,244 company years, we examine whether and how corporate social performance (CSP) affects a firm’s capacity to achieve profitable sales in foreign markets. Based on our extension of instrumental stakeholder theory into the international arena, we hypothesized a U-shaped relationship between CSP and multinationality. Results supported our contention that multinational enterprises (MNEs) need to be substantially committed to social performance objectives if they are to recoup the cost of their CSP investments, and improve their (...) capacity to compete in foreign markets. MNEs engaged in intermediate levels of CSP achieve lower levels of multinationality than firms operating at either anchor of the social performance continuum. In addition, this study demonstrates that CSP moderates a well-established relationship in international business literature – the relationship between R&D investment and a firm’s multinationality. Implications for research and practice are discussed. (shrink)

This study examines how the reference-point effect and sunk-cost fallacy interact with stakeholder theory and influence how investors evaluate corporate social performance. We propose that ex-ante (pre-IPO) corporate social performance influences ex-post (post-IPO) perceived riskiness and that this relationship is U-shaped. We also evaluate how CEO duality and company age moderate this U-shaped relationship. Using young and newly public entrepreneurial firms in China, and focusing on stock returns in the secondary market, empirical results and robustness tests provide strong (...) support for our hypotheses. (shrink)

Managers often ask why their firm should have an ethics program, especially if no one has complained about unethical behavior. The pursuit of business ethics can cost money, they say. It can lose sales to less scrupulous competitors and can drain management time and energy. But as Harvard business professor Francis Aguilar points out, ethics scandals (such as over Beech-Nut's erzatz "apple juice" or Sears's padded car repair bills) can severely damage a firm, with punishing legal penalties, bad publicity, (...) and irreparably injured customer relations. Equally important if less obvious, unethical behavior can undermine a firm's organizational spirit. On the other hand, Aguilar argues, in a well run firm, ethical programs can actually enhance corporate performance, strengthening the company at every level and supercharging employee risk taking and innovation. In Managing Corporate Ethics, Aguilar shows managers how to create ethical programs within their organizations that not only discourage large-scale wrongdoing, but can contribute substantially to the achievement of corporate excellence. Aguilar's program is down-to-earth and comprehensive, and based on his extensive research on highly successful, ethical companies, both large and small. He recommends action on three fronts: first, get senior management to provide effective ethical leadership; second, set up an ethics program that promotes concern for the interests of people affected by the firm's operations and that provides safeguards against corrupting business pressures; and third, staff the company with ethical people and surround the organization with ethical advisors (including legal, financial, accounting, tax, and marketing consultants). To illuminate this three-step program, Aguilar incorporates the lessons learned in his in-depth study of ten prominent firms with proven successful ethics programs--among them Hewlett-Packard, Johnson & Johnson, Nucor Steel, Cray Research, ServiceMaster, and Texas Instruments. He examines Lincoln Electric's attention to compensation and job security to ensure quality products and to reduce the pressure or temptation to act unethically. He shows how General Mills, while pushing product line managers to compete aggressively, uses corporate staff units to guard against illegal or unacceptable claims (testing cake recipes, for example, to see if a product's quality fails under the less-than-perfect conditions of a normal kitchen). And he details how Armstrong World Industries uses pep talks, inspirational stories, role models, and ready access to management to promote ethical standards among employees. Throughout, Aguilar demonstrates convincingly that an ethical program pays dividends: that employees, suppliers, customers, and the community at large know when they are being treated in a positive and constructive manner, and are likely to respond in kind. Packed with real life examples of successful (and failed) ethical programs, Managing Corporate Ethics is a valuable roadmap to an often overlooked source of business success. (shrink)

This paper questions the ethicality of commercial relationships between universities and external donors. By examining cases such as technology transfer and the outside funding of research interests, we identify possible conflicts of interest between the external provider of financial support and academic institutions. The reality today is that university administrators, who have significant decision-making powers, proactively seek large corporate sources of funding that may compromise academic values including academic freedom and the ability to make institutional decisions without the influence of (...) commercial interests. For example, Coca-Cola and Pepsi-Cola have provided extensive funding to universities in return for exclusivity rights to market their product on campuses even though such products may not be healthy alternatives to other soft drinks. Pharmaceutical and biotechnology companies may have opposing interests to faculty and universities if the results of research do not meet the expectations of the sponsors. Curricula issues may be slanted to promote the interests of a corporation or other provider of outside funding. Corporate partnerships between universities and companies such as Nike raise ethical questions when students or other members of the campus community object to the acceptance of financial support from a company that allegedly practices anti-social labor practices in developing countries. On the other hand, corporate funding can be used to supplement diminishing financial resources available to academic institutions, especially for public universities. One benefit of external funding is that it supports pharmaceutical and technology-oriented research and development into new products and processes that have the potential to serve the public good. One cost of such funding arrangements is that the acceptance of financial support from commercial interests solely to market their products on campus restricts the choices available to students that should exist in a free market economy such as in the U.S. The ethicality of the relationship between universities and commercial interests is a matter of concern because of the potential influence of providers of external funds to universities that can compromise academic freedom and objective decision making. (shrink)

The purpose of this paper is to examine whether anonymous reporting channels are effective in detecting fraud against companies. Fraud, which comprises predominantly asset misappropriation, represents a key operational risk and a major cost to organisations. The fraud triangle provides a framework for developing our understanding of how ARCs can increase detection of fraud. Using publicly listed company survey data collected by KPMG in Australia—where ARCs are not mandated—we find a positive association between ARCs and reported fraud. These (...) results indicate that ARCs are effective in detecting fraud. Additional analysis reveals that small firms derive the greatest benefit from adopting ARCs. We also find that independent boards do not directly influence the detection of fraud, but companies with independent boards detect more fraud because they implement ARCs. (shrink)

We examine the equity valuation effect of press releases of upgrades or downgrades reflected in the Covalence Ethical Quote, an index ranking the ethical performance of multinational firms. The index is updated quarterly and is comprehensive enough to include 45 criteria reflecting working conditions, impact of product, impact of production, and company institutional impact. Thus, it captures many dimensions of firms’ ethical performance that are not accounted for in previous research. Our research encompasses a joint test of the value (...) relevance of the index itself and the impact of ethical reputation on a firm’s value. We find first a significant causal relationship between stock market reactions and changes in the CEQ. Specifically, disclosures of positive changes in firm ethical performance cause increases in firm value. Second, cross-sectional analysis indicates a positive association between changes in firm ethical performance and both its financial performance and its financial reporting quality. Collectively, these results suggest that the CEQ conveys information that is useful to investors. Further, corporate measures taken to increase ethical performance are associated with positive benefits to shareholders. Finally, investors have concluded that good news about their firms’ efforts to be ethical is worth the cost. (shrink)

This book brings together the basic documents needed for reaching an informed judgment on the central ethical question in the Pinto case: did Ford Motor Company act ethically in designing the Pinto fuel system and in deciding not to upgrade the integrity of that system until 1978? The five parts of this book cover the case, cost-benefit analysis, whistle blowing, product liability, and government regulations.

Using panel data of 4,244 company years, we examine whether and how corporate social performance affects a firm's capacity to achieve profitable sales in foreign markets. Based on our extension of instrumental stakeholder theory into the international arena, we hypothesized a U-shaped relationship between CSP and multinationality. Results supported our contention that multinational enterprises need to be substantially committed to social performance objectives if they are to recoup the cost of their CSP investments, and improve their capacity to (...) compete in foreign markets. MNEs engaged in intermediate levels of CSP achieve lower levels of multinationality than firms operating at either anchor of the social performance continuum. In addition, this study demonstrates that CSP moderates a well-established relationship in international business literature - the relationship between R&D investment and a firm's multinationality. Implications for research and practice are discussed. (shrink)

Pharmacogenetics is an emerging biotechnology concerned with understanding the genetic basis of drug response, and promises to transform the development, marketing and prescription of medicines. This paper is concerned with analysing the move towards segmented drug markets, which is implicit in the commercial development of pharmacogenetics. It is claimed that in future who gets a particular drug will be determined by their genetic make up. Drawing on ideas from the sociology of expectations we examine how pharmaceutical and biotechnology companies are (...) constructing, responding to and realising particular ‘visions’ or expectations of pharmacogenetics and market stratification. We argue that the process of market segmentation remains uncertain, but that the outcome will be fashioned according to the convergence and divergence of the interests of key commercial actors. Qualitative data based both on interviews with industry executives and company documentation will be used to explore how different groups of companies are developing pharmacogenetics in distinct ways, and what consequences these different pathways might have for both clinical practice and health policy. In particular, the analysis will show a convergence of interests between biotechnology and pharmaceutical companies for creating segmented markets for new drugs, but a divergence of interest in segmenting established markets. Whilst biotechnology firms have a strong incentive to innovate, the pharmaceutical industry has no commercial interest in segmenting markets for existing products. This has important implications, as many of the claimed public health benefits of pharmacogenetics will derive from changing the prescribing of existing medicines. One significant implication of this is that biotechnology companies who wish to apply pharmacogenetics to existing medicines will have to explore an alternative convergence of interests with healthcare payers and providers . Healthcare providers may have a strong incentive to use pharmacogenetics to make the prescribing of existing medicine more cost-effective. However, we conclude by suggesting that a question mark hangs over their ability to provide the necessary economic and structural resources to bring such a vision to fruition. (shrink)

What should maximin egalitarians think about seniority privileges? We contrast a good-specific and an all-things-considered perspective. As to the former, inertia and erasing effects of a seniority-based allocation of benefits from employment are identified, allowing us to spot the categories of workers and job-seekers made involuntarily worse off by such a practice. What matters however is to find out whether abolishing seniority privileges will bring about a society in which the all-things-considered worst off people are better off than in the (...) seniority rule's presence. An assessment of the latter's cost-reduction potential is thus needed, enabling us to bridge a practice taking place within a firm with its impact on who the least well off members of society are likely to be. Three accounts of the profitability of seniority privileges are discussed: the “(firm specific) human capital”, the “deferred compensation” and the “knowledge transfer” ones. The respective relevance of “good-specific” and “all-things-considered” analysis is discussed. It turns out that under certain circumstances, a maximin egalitarian case for seniority privileges could be made. Senior: Do you know that they are planning layoffs? Of course, it is only fair that they lay-off the newcomers first! After all, I have been loyal to the company for many years. Junior: Did I choose to be a newcomer? Footnotes1 Many thanks to two anonymous referees, to P.-M. Boulanger, B. Cockx, C. Fabre, L. Jacquet, E. Lazear, I. Robeyns, G. Vallée, Y. Vanderborght, Ph. Van Parijs, V. Vansteenberghe and J. de Wispelaere for their help and critical comments. Earlier versions of this paper were presented in Louvain-la-Neuve, Ghent, Montevideo and London. I am very grateful to these audiences. Special thanks to G. Brennan for his extensive and extremely valuable comments on earlier drafts of this paper. The usual disclaimers apply. (shrink)

Shared electric vehicles are becoming a new way for urban residents to travel because of their environmental protection, energy saving, and sustainable development. However, at present, the operation mode of shared electric vehicles has the problem that the vehicle cannot be utilized efficiently. For this reason, this paper studied the mode of SEVs with ride-sharing and SEVs routing optimization under this mode. Firstly, the operation principle of MSEVRS is presented, which includes the collection of user demand information and SEVs information (...) and the routing optimization of SEVs, both of which are completed by the user and SEVs management center. Secondly, the routing optimization model of SEVs with ride-sharing is proposed, in which the SEVs operation cost, user time cost, user rental cost, and user ride-sharing bonus are taken into account. And the genetic algorithm is designed to solve the model. Finally, a case study is carried out to illustrate the effectiveness of the proposed model. The results show that the proposed routing optimization model achieves the optimal SEVs route, realizes the MSEVRS, and improves the utilization rate of SEVs. Compared with the current SEVs mode, the MSEVRS reduces the number of vehicles, user rental cost, the total cost of users, and the total cost of user and company of SEVs. And the total distance is reduced, which means saving energy. Moreover, it shows that MSEVRS obtains a better cost performance and service for users and has a better application prospect. (shrink)

The problem with model-theoretic modal semantics is that it provides only the formal beginnings of an account of the semantics of modal languages. In the case of non-modal language, we bridge the gap between semantics and mere model theory, by claiming that a sentence is true just in case it is true in an intended model. Truth in a model is given by the model theory, and an intended model is a model which has as domain the actual objects of (...) discourse, and which relates these objects in an appropriate manner. However, the same strategy applied to the modal case seems to require an intended modal model whose domain includes mere possibilia. Building on recent work by Christopher Menzel (Synthese 85 (1990)), I give an account of model-theoretic semantics for modal languages which does not require mere possibilia or intensional entities of any kind. Menzel has offered a representational account of model-theoretic modal semantics that accords with actualist scruples, since it does not require possibilia. However, Menzel's view is in the company of other actualists who seek to eliminate possible worlds, but whose accounts tolerate other sorts of abstract, intensional entities, such as possible states of affairs. Menzel's account crucially depends on the existence of properties and relations in intension. I offer a purely extensional, representational account and prove that it does all the work that Menzel's account does. The result of this endeavor is an account of model theoretic semantics for modal languages requiring nothing but pure sets and the actual objects of discourse. Since ontologically beyond what is prima facie presupposed by the model theory itself. Thus, the result is truly an ontology-free model-theoretic semantics for modal languages. That is to say, getting genuine modal semantics out of the model theory is ontologically cost-free. Since my extensional account is demonstrably no less adequate, and yet is at the same time more ontologically frugal, it is certainly to be preferred. (shrink)

Background This pilot study evaluated the speaking book ‘What it means to be part of a clinical trial’. The book aims at empowering populations with information on their rights and responsibilities when enrolled in clinical research. Wide publication of the book—at significant cost—is anticipated. It is important that the book is evaluated within the communities for whom it is intended, and the necessary changes (if any) are made, before translation and large-scale publication takes place. Objective The objective of the (...) study was to measure the efficacy and ease of use of the book. Methods Participants were recruited from a catering company. Participants were questioned on their knowledge of clinical trials and were then given the book. Instructions for use of the book were given to one group (‘experimental’ group). The other group (‘control’ group) was not given any instructions. A week later, the investigators returned, repeated the knowledge questions and asked ‘ease of use’ questions. Results A two-way repeated measure of covariants showed a statistically significant positive increase in knowledge of clinical trials among the intervention group (p=0.02). Results for the control group displayed trends that were not statistically significant. Percentage analysis of ‘ease of use’ questions proved that the book is easy to use, although some changes would be beneficial. Conclusion This study revealed that the speaking book is easy to use. It significantly increased knowledge of clinical trials among the study sample if instructions on use of the book were provided. (shrink)

This paper presents research conducted during two coffee farming seasons in Costa Rica. The study examined coffee farmers’ weed management practices and is presented in the form of a case study of small-scale farmers’ use of labor and herbicides in weed management practices. Over 200 structured interviews were conducted with coffee farmers concerning their use of hired labor and family labor, weed management activities, support services, and expectations about the future of their coffee production. ANOVA and regression analyses describe the (...) relationships between farm size, labor, and herbicide use, and three farm types (i.e., conventional, semi-conventional, and organic). Based on findings regarding the amount of labor used to manually control weeds on different types of farms (large farms, small conventional, semi-conventional, and organic farms) I am able to challenge small conventional farmers’ perceived need for herbicide use. Semi-structured interviews of coffee farmers and extension workers further revealed a dominant role played by agro-chemical companies in assisting farmers with production problems, and documented a high transaction cost for information provided from elsewhere. Chemical companies hire extension workers to visit farmers at their farms, free of charge, to offer recommendations on how to treat different pest problems, while government and cooperative extension agents charge for the service. There is a need to increase the amount of resources available to the National Coffee Institute to fund one-on-one farmer support services in order to balance the influence of agro-chemical company representatives and allow farmers to make better decisions regarding weed management. (shrink)

ABSTRACTAn important part of responsible business practices is compliance with the law. This article details what actually happens when the laws of the host country fail to ensure adequate protection. The focus here is on land dispossession and loss of livelihood in relation to a gold mine project in central Ghana. How is it that a well‐known international company—Newmont—with its own corporate social responsibility statements sets up a project in the year 2003 that displaces subsistence farmers from their land (...) without compensating in cash or with replacement land? The analysis identifies the factors that lead the company to not compensate farmers for their lost land: cost‐cutting, strict adherence to the law, CSR commitment that was new and not internalized, complexities of the Ghanaian land tenure system, peer pressure to preserve the status quo, selection of an “old‐school” CSR manager, and the inadequacy of Ghanaian mining law to account for relatively novel, “open‐pit” mining techniques. However, the specter of famine raised by civil society activism, the involvement of the International Financial Corporation, and a better qualified CSR team constitute another set of factors that lead to a comprehensive package of livelihood improvement measures. There is a contrast between the complexity, long‐term, and advanced type of assistance Newmont currently envisages and the backward, short‐term, formalism, and brutality of denying compensation for land back in 2003. This research is based on the extensive documentation Newmont makes available on its web site, interviews conducted in Ghana, and literature research. (shrink)

Our research investigated pricing policies of fast-food restaurants in predominantly black neighborhoods. We argue that the lack of monitoring of franchisees’ pricing policies leads to higher prices. Results indicate that franchisees are significantly more likely than company-owned outlets to charge higher prices based on the proportion of blacks in a neighborhood. These price differences donot appear to be explained away by cost or competition factors. Our findings do not establish an intent to discriminate; nevertheless, wediscuss the fairness of (...) the pricing structure found. (shrink)

In the early 1990s, managers at Exxon decided to seek lower cost disposal in Louisiana for oil-field wastes declared hazardous in Alabama. This decision resulted in injuries to the residents of Grand Bois, Louisiana; the disposal company; Exxon; and the oil industry in the state. Given the need for business and society to manage business operations for mutual benefit, it is essential to understand why businesses injure the public so that similar incidents do not happen again. The authors (...) use three analytical perspectives to suggest how corporations may make unethical decisions without purposefully setting out to do so: their managers may fail to understand changing social expectations for corporate behavior; they may adopt organizational structures, policies, and procedures that block ethical action in the name of efficiency; and they may follow unwritten rules of behavior for career success that exclude ethics. These perspectives suggest that individual Exxon managers may not have been making greed-based decisions, weighing corporate gains against harms to others. The situation more likely involved a failure, for the reasons discussed, to raise ethics questions in making business decisions. This explanation does not make much difference to those injured nor does it absolve those who made the decisions. It does make a difference to society and to companies seeking to understand factors that have to be overcome in any large corporation that wishes to prevent such events from occurring. (shrink)

Salespeople have a moral obligation to prospect/customer, company and self. As such, they continually encounter truth-telling dilemmas. "lgnorance" and "conflict" often block the path to morally correct sales behaviors. Academics and practitioners agree that adoption of ethical codes is the most effective measure for encouraging ethical sales behaviors. Yet no ethical code has been offered which can be conveniently used to overcome the unique circumstances that contribute to the moral dilemmas often encountered in personal selling. An ethical code is (...) developed that charts ethical paths across a variety of sales settings (addressing "ignorance") while illustrating why the cost associated with acting morally is generally reasonable (addressing "conflict"). The code applies the universal transactional notions of customer expectations and salesperson reputation to illustrate why and when salespeople are morally required to tell the truth. In doing so, the code tackles head-on the vexing question of how best to juggle mixed motives - involving self-interests, corporate-concerns, cus-tomer-needs and other influences such as the nature of the transaction. The issue of how mixed motives can be dealt with through moral means is one that ethicists have previously sidestepped (Stark, 1993). (shrink)

In the early 1990s, managers at Exxon decided to seek lower cost disposal in Louisiana for oil-field wastes declared hazardous in Alabama. This decision resulted in injuries to the residents of Grand Bois, Louisiana; the disposal company; Exxon; and the oil industry in the state. Given the need for business and society to manage business operations for mutual benefit, it is essential to understand why businesses injure the public so that similar incidents do not happen again. The authors (...) use three analytical perspectives to suggest how corporations may make unethical decisions without purposefully setting out to do so: their managers may fail to understand changing social expectations for corporate behavior; they may adopt organizational structures, policies, and procedures that block ethical action in the name of efficiency; and they may follow unwritten rules of behavior for career success that exclude ethics. These perspectives suggest that individual Exxon managers may not have been making greed-based decisions, weighing corporate gains against harms to others. The situation more likely involved a failure, for the reasons discussed, to raise ethics questions in making business decisions. This explanation does not make much difference to those injured nor does it absolve those who made the decisions. It does make a difference to society and to companies seeking to understand factors that have to be overcome in any large corporation that wishes to prevent such events from occurring. (shrink)

This study investigates the link between female board directors and company financial performance and agency costs in Sri Lanka's publicly listed companies. In order to investigate the impact of board gender diversity on firm financial performance, a dynamic panel generalised method of moment estimation is applied. Three variables are used as proxies for gender diversity of the board of directors, namely the percentage of women on the board, a dichotomous dummy and the Blau index. A Tobit model with endogenous (...) regressors is used to investigate the impact of female board members on agency cost, using growth opportunities as a measure of agency cost. After controlling for size, industry and other corporate governance measures, this study finds a significant negative relationship between the proportion of women on boards and firm value along with an increase in company agency cost. This evidence provides insights for governments and academic institutions in their efforts to provide resources that will help enhance women's leadership skills. (shrink)

With the rapid growth of E-commerce business, logistics service, especially the last-mile distribution, has become one bottleneck, which leads to the rise of coordination complexity of logistics service supply chain. This research, based on Stackelberg’s game theory, studies the coordination of a new three-echelon LSSC consisting of an E-commerce mall, an express company, and a terminal distribution service provider and investigates the optimal solutions and profits for each party within the semicentralized and centralized LSSC alliances, respectively. To accomplish this, (...) it firstly shows that the three-echelon LSSC can lead to global optimum under the centralized decision-making scenario and then deploys the contract coordination schemes, including revenue sharing, cost sharing, and unit delivery price contracts, in three semicentralized alliances, so as to achieve the same performance of the centralized decision-making scenario, in which each party in the LSSC can achieve the win-win situation. Finally, numerical examples are provided to illustrate the feasibility and the effectiveness of the proposed coordination strategies. This study enriches the coordination theory in the field of LSSC and provides managerial insights for decision makers in LSSC. (shrink)

Andrew Pelling is a Canadian experimental scientist who uses low-cost, open source materials to create the medical technology of the future. He runs an interdisciplinary, curiosity-driven lab at the University of Ottawa, where he researches non-genetic ways to create artificial tissues and organs. Much of his experimental work has led to new insights in cancer pathology, muscle degeneration and stem-cell development. He has a cross-appointment in the departments of Physics and Biology and the Institute for Science, Society and Policy (...) at the University, has held a Canada Research Chair since 2008 and was elected a member of the Global Young Academy in 2013. He is an honorary research fellow at SymbioticA, Center of excellence for biological arts. Dr Pelling has also recently started a company to sell and distribute low-cost kits for key scientific equipment that lets anyone create biomaterials for regenerative medicine. His latest achievements and hard work have earned him a place in the TED2016 Fellows Class. We were interested to interview Andrew Pelling, whose experience within and beyond the life sciences could help us better navigate the complex and emerging realms of laboratory life. (shrink)

Managers are expected to actively build their role, shaping and adjusting it day after day on their own company needs and on market upheaval. In our society development became one of the keywords: development at all costs, continuous growth, economic growth, professional development, purchasing power growth. Inside this logic a self-empowerment or coaching project are frequntly required, and really often the consultant acts inside the same logic of development at all cost. When the adviser agrees to this request (...) without opening a space to analyze the question, but simply working on the given target in order to supply the comforting answer, he acts inside the same weird and directive logic leading to the prevalence of the role on the person. Working through an effective empowerment perspective means working together with the person in the role: improving his self-awareness, promoting a reflection on targets and values, ensuring an elaboration space for emotions and experiences. The aim is to bring into question the answer taken for granted, trying to look from a different perspective what we do, what we are, what we say. (shrink)

Perhaps the topic of acceptable risk never had a sexier and more succinct introduction than the one Edward Norton, playing an automobile company executive, gave it in Fight Club: “Take the number of vehicles in the field (A), multiply it by the probable rate of failure (B), and multiply the result by the average out of court settlement (C). A*B*C=X. If X is less than the cost of the recall, we don’t do one.” Of course, this dystopic scene (...) also gets to the heart of the issue in another way: acceptable risk deals with mathematical calculations about the value of life, injury, and emotional wreckage, making calculation a difficult matter ethically, politically, and economically. This entry will explore the history of this idea, focusing on its development alongside statistics into its wide importance today. (shrink)

Outsourcing is the action of contracting a specific task, function, or process to an external company instead of using an organisation’s resources. The history of outsourcing goes back to the 1980s when it was used for cost reduction in non-core business operations. Over time, outsourcing has moved to more strategic areas and has become an important factor in business performance. The selection of the best alternative among alternative outsource manufacturers is a multi-criteria decision-making problem. In this study, the (...) fuzzy set theory is used to capture the uncertainty embedded into the decision problem. In this paper, an interval-valued intuitionistic fuzzy Analytic Hierarchy Process and Technique for Order of Preference by Similarity to Ideal Solution-based methodology is proposed, and an application is provided for the evaluation of outsource manufacturers. (shrink)

Both the Athenian wrestler and the Florentine clerk, it turns out, demonstrate a persistent concern with the moral problematic--that is, the tendency of human beings to do what they want to do at the cost of that which they ought to do. Both thinkers see man's vulnerability to fortune as a symptom of this tendency, and they agree as to its ultimate cause: the inability of men to accurately weigh that which is present here and now against that which (...) is far removed in time and space. Machiavelli does not part company with Plato until it is time to suggest a remedy. Here he indeed accomplishes a radical innovation--perhaps as radical as was suggested above. Whereas Plato resolves the problematic by founding the soul on that which is, and which is better than and prior to man, Machiavelli supposes that man, starting from scratch, can construct his own foundations. Nonetheless, the Florentine walks a long way with the Athenian before he takes his leave; it may be best, then, to interpret Machiavelli's writing less as a monologue than as a dialogue, the dramatis personae of which include himself and Plato. (shrink)

On November 27, 1905, the steamship Reynolds was moored to Vincents owner, the Lake Erie Transportation Company, was held liable for the cost of the damage. Defendant’s appeal against an order denying a new trial was dismissed by a two to one majority of the Supreme Court of Minnesota in an opinion that has since enjoyed considerable and consistent attention. 1.

Ambient assisted living technologies are expected to solve a significant number of problems related to elderly care. However, in Japan, limited discourse on the ethical issues concerning their application is hindering the spread of AAL technologies. Against this background, this study explores the ethical perspectives of AAL technology engineers in Japanese companies and the circumstances influencing their perspectives. A qualitative study using semi-structured interviews was conducted. Nineteen Japanese AAL-technology companies were contacted, and nine of them and their engineers responded to (...) the interviews. The contents of the interviews were analyzed with thematic analysis which showed that the engineers had ethical concerns about their products as follows: safety and related conflicts, acceptance of the technology, dependence on the technology, accident liability, fair access to the technologies, and privacy. In relation to these issues, they identified as company employees with regard to the following: responding to social needs, having many users, and cost reduction. They also mentioned being influenced by the Japanese national program for AAL-technology promotion. The engineers experienced dilemmas between the various stakeholders’ interests and they hoped that ethical guidelines for developing AAL technologies would resolve such dilemmas. In conclusion, Japanese AAL-technology engineers tackle ethical issues with regard to the application of their products. The engineers hope for the establishment of guidelines for the ethically responsible development of AAL technologies. The guidelines need to be established and implemented in an interactive manner, in order to avoid their being reduced to a bureaucratic formality. (shrink)

Combined with the research of mass customization and cloud manufacturing mode, this paper discussed the production planning of mass customization enterprises in the context of cloud manufacturing in detail, analyzed the attribute index of manufacturing resource combination, and given a system considering the characteristics of batch production in mass customization and the decentralization of manufacturing resources in cloud manufacturing environment. Then, a multiobjective optimization model has been constructed according to the product delivery date, product cost, and product quality that (...) customers care most about. The Pareto solution set of production plan has been obtained by using NSGA-II algorithm. This paper established a six-tier attribute index system evaluation model for the optimization of production planning scheme set of mass customization enterprises in cloud manufacturing environment. The weight coefficients of attribute indexes were calculated by combining subjective and objective weights with analytic hierarchy process and entropy weight method. Finally, the combined weights calculated were applied to the improved TOPSIS method, and the optimal production planning scheme has been obtained by ranking. This paper validated the effectiveness and feasibility of the multiobjective model and NSGA-II algorithm by the example of company A. The Pareto effective solution has been obtained by solving the model. Then the production plan set has been sorted synthetically according to the comprehensive evaluation model, and the optimal production plan has been obtained. (shrink)

. All personal that belong to a company, has to be consider into their daily agenda theoptimization of the inventory, in matter of create a cost reduction into the organization, an finallyincrement the productivity.The inventory is the element that gives “live” to the companies, in the moment to be manufacturedinto a product, through the works stations, is the case, that the excess of inventory will force thecompany not invert into development, research, training, technology, etc., and this situation willaffect (...) competiveness, and take the risk of be out of the market.The clients pay for a good, with a competitiveness price, excellent quality, and complete all thespecification that they request, plus has to be deliver on time; our responsibility is do wherever ittakes to guaranty the mayor percentage of efficiency in all our process and complete the goal ofsatisfy our clients.Keywords. Competitiveness, cost, inventory management, productivity.Resumen. Todo el personal estratégico, administrativo y operativo perteneciente a una empresa,debe considerar dentro de su agenda diaria la optimización de la gestión de los inventarios,permitiendo con ello un impacto en la reducción los costos de la organización, que se traducirá en unincremento de la productividad.El inventario es el elemento que permite dar vida a las empresas, al momento de ser transformada enun producto, a través de todas las estaciones de trabajo dando paso a paso un valor agregado, sinembargo el exceso de los inventarios ocasiona que la organización no pueda en incurrir en gastos quepermitan el desarrollo y crecimiento, como son las áreas de investigación y desarrollo, capacitación yadiestramiento, tecnología, mercadotecnia, etc., trayendo en consecuencia perder el nivel decompetitividad, y con ello correr el riesgo de quedar desplazado por la competencia.Los clientes pagan por producto que presente un precio competitivo; de la más alta calidad; quecumpla con todas y cada una de sus especificaciones; que sea entregado en tiempo y forma; esnuestra responsabilidad como estrategas, administradores y operadores de los inventarios, elgarantizar el mayor porcentaje de eficiencia en los procesos productivos y administrativos, demanera de lograr el fin último de toda empresa tiene, satisfacer a sus clientes.Palabras claves. Administración de inventarios, competitividad, costos, productividad. (shrink)