CRM 1300 Lecture Notes - Lecture 2: Old Ways, Law, Bloody Code

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sangriafox36

13 Sep 2015

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Mechanisms for dispute resolution have existed as long as humans have interacted though not as formal law. Modes of production: this is the dominant form of social and technical organization of economic production in a society. Historically, a variety of modes of production can be distinguished based on both technology and the structure of social relationships. Hunter-gatherers and kin-based communities knew that if they didn"t work together they wouldn"t be able to stay alive. The division of labour created strong communication within the group which allowed the group to develop what was acceptable and unacceptable. In order to survive, they must all cooperate. Everyone in the community was supposed to follow along and their opinions didn"t really matter in the community. Conflict was easier to manage because everyone was familiar with each other and interested in fixing problems. They wanted to resolve conflict so they could get on with their lives. Sometimes pressure was placed on one community by another.

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Case Study #3

TO WAL-MART OR NOT TO WAL-MART?

Wal-Mart is a $250-billion-a-year retailer. Eighty two percent of U.S. households made a

Wal-Mart purchase in 2002. It is the largest company in the world with a global

workforce of 1.4 million. Where Wal-Mart competes the average grocery prices are 14%

lower. In the past it was General Motors, IBM and other companies that were considered

to be the leaders in industry and the ones to watch. Now it is Wal-Mart that is being

studied in universities around the world.

At Wal-Mart, cost is king. Costs are kept low and this translates into goods being sold

for less. The entire organization is focused on reducing costs and passing those savings

on to the consumer. This allows poor people to buy food and other necessities that they

otherwise might not be able to afford. In the U.S. it dominates sales in a number of

categories : 32% of disposable diapers, 30% of hair products, 26% of toothpaste, 20% of

pet food and 13% of textiles.

Wal-Mart simply has developed the most efficient methods for operating their business.

Their inventory management, through a network of scanners, computers, and at-the-ready

suppliers, makes it the leader in successful turnover of inventory. How can we blame

Wal-Mart for being the efficient cost conscious giant that it is?

The Wal-Mart phenomenon has occurred at the same time that high-paying skilled jobs

are being lost in the manufacturing sector. When these jobs are lost, the alternative often

means being employed at Wal-Mart at a much lower pay scale with reduced benefits

such as medical insurance. Its labor costs are twenty percent less than those at

unionized supermarkets, and sales clerks make less, on average, than the federal poverty

level ($8.50 an hour).

Barbara Ehrenreich* has described the problems faced by the under class, such

as waitresses and Wal-Mart employees. They barely survive on a day-to-day basis, living

from hand to mouth, with no reserves, no safety net, no medical insurance and almost no

prospect of improving their positions in life.

The loss of manufacturing jobs has affected the lifestyles of many people. What they see

is the reality of reduced opportunity with a permanent reduction in wages and standards

of living. They are trapped in a new marketplace, with diminishing expectations and few

alternatives to shopping at Wal-Mart. This is a change in our American culture--the

dreams have now been down-sized.

Is Wal-Mart the hero or the culprit? After all, low prices, competition, and growth have

all been mantras that Americans have been chanting all of our lives. We were

told that if you built a better mouse trap, everyone would come to you. Well, Wal-Mart

has built a better mouse trap. Is there any logic in our looking at Wal-Mart as a

contributor to the loss of some our middle class or is it just jealousy and sour grapes?

For one thing, its hard line on costs has forced many factories to move overseas.

Wal-Mart imported most of the items it sells. Environmental standards

are lower in these countries where these goods are manufactured than they are in the

U.S. This probably results in increased health issues and costs. In addition, shipment of

goods many thousands of miles to their ultimate destinations, involve utilizing the

worldâs limited oil resources. When you add up all this, the cost of the goods may be

greater than if they were produced in this country.

Another issue is that Wal-Mart is a non-union employer paying wages that are below the

poverty level, with minimal health insurance coverage. As many employees cannot

afford the co-payment required for doctors office visits, when a medical crisis occurs they

are forced to use the emergency room facilities of local hospitals. The result is that the

community bears the direct cost of their medical treatment and the indirect, as well as

ancillary costs such as diminished work capacity, child care, etc.

There are other economic ramifications to the Wal-Mart explosion. When Wal-Mart

arrives in a town, âmain streetâ erodes. Neighborhood stores that used to provide goods,

services and paid their workers well, are eliminated, uprooting families and ways of life

in the process. The Wal-Mart decision to saturate Oklahoma City, resulted in the closure

of 30 supermarkets.

If Americans shop with price being the only factor that determines where they

purchase their goods, doesnât this mean the permanent down-sizing of our standard of

living? How can the local retail establishment survive when they canât compete with a

Wal-Mart? Look at what has happened to the local supermarket, bookstore, hardware

and clothing store. The demise of these small business constitutes the loss of a middle

class of society in a community. We need to think: As consumers are we better off

paying a little more to enable the local merchants and their families to survive in order to

preserve the character of our communities and society or should we concern ourselves

with price only?

HERE IS YOUR DILEMMA:

You are the mayor of a small city in the West. You canât worry about the 4,700 workers

at IBM and the other workers at technology companies who lost their jobs. Your problem

is a more local one.

A Wal-Mart representative has approached you about the possibility of building a super-

store within your city limits. The store would serve communities within a twenty-five mile

radius. The land that they intend to build upon would require new zoning. Wal-Mart

would expect a certain amount of property tax and other relief. If your city does not

want a super-store, you are certain that one of the other towns close-by would be happy

to accommodate their needs.

What studies would you require before deciding which way to vote? What ramifications

do you foresee with this new super-store? What would you ask of Wal-Mart before

agreeing to their request? How much input would you seek from the residents of your

city

blushimpala894

Assignment Scenario:

As a new marketing associate with Barclays Bank, you are tasked with writing a critical essay summarizing what transpired during the investigation conducted by the United States Department of Justice into the abuse of the London Interbank Offered Rate (LIBOR) interest rate regulated by the British Bankerâs Administration. This essay, if chosen by your new employer, will be the report presented to the Board of Directors.

Write a 2â3 page, (not including a title and references page), double spaced, critical essay responding to the checklist items. For assistance with your Assignment, please use your textbook and library research resources. The instructions for you to execute this task are as follows:

Directions for completing this Assignment:

1. Read the âBarclays Bank: Banking on Ethicsâ case study: case study is below..

2. Learn how to write a critical essay: I will make the changes if need be..

3. Use APA format and citation style, provide a title page and references, and do not forget to use in text citations with their accompanying references so as to avoid plagiarism.

4. In your critical essay that includes your thesis, arguments, support, and conclusion, respond to the following:

Checklist:

â Describe the level of ethical development the executives at Barclays demonstrated

when manipulating the LIBOR interest rates.

â Did Barclays Bank neglect social responsibility? What could they have done to be more socially responsible?

â What actions regarding Corporate Social Responsibility (CSR) could Barclays have engaged in after the scandal broke to set things right and ensure that such an event would not happen again?

â Describe what level of morality would have been demonstrated if executives at Barclays asked themselves, âEven though manipulating the LIBOR will increase company profits, is it the right thing to do in the long run?â

â Explain the importance of ethics and social responsibility in marketing as a result of your case study analysis.

Case study

Chapter 3

On February 28, 2012, the United States Department of Justice announced a criminal investigation into abuse of the LIBOR, an important interest rate regulated by the British Bankersâ Administration. Four months later, London-based Barclays Bank was fined more than $440 million by United States and English financial regulatory agencies for knowingly manipulating the LIBOR to its own advantage. The political and economic uproar that followed the exposure of Barclaysâ actions led to several resignations (including that of Barclaysâ CEO Bob Diamond) and further criminal investigations. Former governor of New York Eliot Spitzer called the incident âthe mega-scandal of mega-scandals,â while journalist Robert Scheer christened it âthe crime of the century.â The LIBOR, short for âLondon Interbank Offered Rate,â is the interest rate banks pay when they borrow money from each other. To calculate this rate, up to 20 influential British banks report their own proposed bank-to-bank lending rates. The highest and lowest rates are trimmed off, and the remaining rates are averaged, creating the LIBOR. A low LIBOR often points to financial stability, while a high LIBOR indicates that banks lack confidence in each otherâs economic health. What Barclays was fined for was proposing artificially low bank-to-bank rates to make itself appear more stable than it actually was. However, further investigations indicated that Barclays colluded with other banksâand perhaps even the British governmentâto impact the LIBOR itself. An unnaturally low LIBOR would suggest greater economic stability than actually existed, misleading investors and loan-seekers in a potentially volatile market, and thus creating profit for the banks involved in the collusion. The rate manipulation carried out by Barclays affects not only London banks and business executives, but also small businesses and individualsâperhaps even you yourself. Because it has historically been considered trustworthy and economically accurate, the LIBOR is used all around the world as an interest rate and financial instrument benchmark. Everything from currency values (including the United States dollar) to multimillion-dollar corporate debts to home mortgages to individual student loans depend on the LIBOR. While it may not seem like it, each of these is a product that is marketed and sold. As loans and exchanges of varying types are banksâ primary sources of profit, banks compete to exchange these products within a market. At the consumer level, consider how many car and credit card commercials you have seen advertising a low interest rate. Hundreds of trillions of dollarsâ worth of these financial products have been sold based on the LIBORâa rate that may not in fact accurately reflect the worldâs shaky economic standing. Journalists and economic analysts have been quick to reject the ethicality of Barclaysâ actions. As information about the LIBOR scandal broke, TIME contributor Christopher Matthews wrote, â[Barclaysâ alleged collusion] speaks to the moral compass, or total lack thereof, of the worldâs financial professionals...the public and the government no longer trust the industry to set its own standards for acceptable behavior.â In a piece for

The Nation, Robert Scheer said, âThe modern-day robber barons pillage with a destructive abandon totally unfettered by law or conscience and on a scale that is almost impossible to comprehend.â Dennis Kelleher, president of nonprofit financial watchdog organization Better Markets, Inc. was perhaps most condemnatory of all: âWhat we probably need is to wipe out this entire generation of so-called banking leaders who apparently have no ethics or integrity.â While the total sum of the LIBOR scandalâs consequences are yet to be seen, Barclaysâ actions may go down in history as a monumental failure in business ethics and corporate social responsibility.

ivorytermite127

As temperatures in an African savanna increase and rainfall decreases, it would most likely change into

tiaga

desert

tropical rainforest

temperate forest

What is imprinting? Give an example.

fixed assocation, such as hatching ducks recognizing the first animal they see as their mother

a learned behavior, such as a wasp circling during a search for food, so that it can return to its nest

alteration of instinct, such as a spider changing the type of web it weaves depending upon the environment

Opportunistic species

provide extensive care for their offspring

produce many offspring

reproduce later in life

What are the five agents of microevolution?

gamete production; mating; fertilization; caring for offspring; formation of herds

photosynthesis; respiration; mitosis; meiosis; fertilization

mutation; gene flow; nonrandom mating; genetic drift; natural selection

Microevolution is

new species

minor extinction of species

changes in allele frequency in a population

Which of the following is does not help defend against predators?

Toxins made by plants that injure caterpillars feeding on the plant

The large eyespots on a moth's wing that can startle a hungry bird

Thorns on a plant

Many plants have brightly colored fruit and flowers

Humans have a favored birth weight, neither too small nor too large. This is

stabilizing selection

disruptive selection

artificial selection

directional selection

What is a keystone species?

the first organism that populates an area

an organism upon which the entire ecosystem depends

the first fossils found in the earliest rock strata

As temperatures in the Arctic warm, which of the following changes may occur?

Tundra will be replaced by taiga

Taiga will be replaced by tundra

Temperate forest will be replaced by taiga

Tundra will be replaced by desert

Taiga will be replaced by temperate rain forest

What is desertification?

restoration of vegetation and water to deserts

areas adjacent to deserts also become deserts

abandonment of a habitat by animals

Evolution occurs at the level of

individuals

populations

communities

The maximum population that the environment can support is called the

biotic potential

environmental resistance

carrying capacity

replacement reproduction

demographic transition

A population with relatively more pre-reproductive individuals is common in _____-developed countries

less

Endangered species sometimes breed in captivity. Why are such species endangered in the wild?

Their population density is too high

Loss of habitat

Their environment is polluted

Abiotic components of an ecosystem include

only animal life

only plant life

living components only

nonliving components only

both living and nonliving components

Carbon returns to the atmosphere

as carbon dioxide

from respiration of plants

by the burning of fossil fuels

from respiration of animals

All of the answer choices are correct

Why does the Tropical Rain Forest contain an abundance of antibiotic compounds?

The area is crowded, leading to random production of useful compounds

The area is wet. plants had to develop resistance to fungi and bacterial infections

There is a great diversity of plants, leading to random production of useful compounds

The carrying capacity of the environment for a species is determined by

the reproductive rate of the organism

the number of organisms of that species

the state and national wildlife laws pertaining to that species

a complex

the limited productivity of the environment and the environmental resistance to the biotic potential of the organism

An introduced species that breeds and spreads is

resourceful

harmful

native

dominant

invasive

What is disruptive selection?

environmental influences that select against change

environmental influences that promote one phenotype versus all others

environmental influences that promote two or more phenotypes versus all others

Natural selection acts on

individuals

populations

communities

Two populations of birds live in the same area but have different sleep/wake cycles. This is

behavorial isolation

mechanical isolation

geographical isolation

temporal isolation

An insect that resembles the face of a snake avoids predation by

camouflage

warning coloration

mimicry

chemical defense

mutualism

Unselfish acts that help others in a group so that they increase their chances of surviving and reproducing is called

imprinting

mimicry

altruism

learning

instinct

If an environment changes rapidly, organisms with ____ will be more likely to survive and reproduce.

the correct allele frequency

existing neutral mutations

existing beneficial mutations

How did geology influence Darwinâs thoughts?

It demonstrated that the earth was very old, therefore there was enough time for species to evolve

it demonstrated that all continents were similar

it demonstrated the presence of many fossils

The founder effect occurs when

large groups of individuals leave their home population and establish new settlements, mating only among themselves

many members of a population die, resulting in a great loss of genetic diversity

many members of a population reproduce causing too much genetic diversity within the population

small groups of individuals leave their home population and establish new settlements, mating only among themselves.

The greenhouse effect is due to high atmospheric

Nitrogen

Ammonia

Carbon monoxide

Carbon dioxide

Oxygen

What are the Reproductive Barriers that keep species separate?

lack of food; lack of habitat; lack of potential mates; lack of nesting sites; lack of genetic variation

mountains; canyons; glaciers; bodies of water (for terrestrial animals); areas of land (for aquatic animals)

habitat isolation; temporal isolation; behavioral isolation; mechanical isolation; gamete isolation

What is directional selection?

environmental influences that select against change

environmental influences that promote one phenotype versus all others

environmental influences that promote two or more phenotypes versus all others

Which of the following is correct when describing a predator-prey cycle?

A decline in the numbers of predators causes a decline in the number of prey

A decline in the numbers of prey causes a decline in the number of predators

An increase in the number of predators triggers an increase in the number of prey

An up-and-down cycle will be seen for the prey animal

A seasonal die-off that will occur without the other species present

Why are top-level predators (lions, eagles, humans) so rare in a community?

Only a small amount of the energy is passed from one trophic level to the next

They do not breed as fast as other animals

Because of predation by higher predators

It is difficult for them to learn how to capture prey

Their job is to keep the population size of other animals in check

Alleles conferring bright color to male guppies are common because

they make males less visible to predators

they help males identify each other

they are preferred by females

Organisms that obtain their energy from producers or other consumers are

autotroph

heterotroph

producer

autotroph and producer

heterotroph and producer

What is the environmental impact of strip mining?

lack of trees exposes the surface of the earth, promoting runoff and loss of adjacent trees

removal of minerals from the soil hampers growth of vegetation

it causes a potential increase in volcanic activity

Two populations of squirrels are separated by a mountain range and would not be capable of interbreeding. This is an example of:

behavorial isolation

mechanical isolation

geographical isolation

temporal isolation

What is a danger of overfishing?

humans will become dependent upon fish

selection for smarter fish that can avoid being caught

driving the population back into the lag phase

What is meant by prezygotic versus postzygotic speciation mechanisms?

before versus after formation of a zygote

before versus after meiosis

before versus after gamete formation

The relatively short term changes in allele frequencies within a species or population is

artificial selection

microevolution.

speciation

macroevolution

Avoidance of a location with predators is the result of

imprinting

mimicry

altruism

learning

instinct

What is the difference between Density-Dependent and Density-Independent Factors on populations?

density-dependent factors exert a greater influence when there are more individuals; density-independent exerts the same influence on all individuals regardless of their number

density-dependent factors exert a greater influence on larger, more dense individuals; density-independent factors exert the same impact on individuals of all size

density-dependent factors exert the same influence on all individuals regardless of their number; density-independent factors exert a greater influence when there are more individuals regardless of their number

All of the organisms in a given location or area is termed a

peer group

flock

community

population

herd

The concentration of the pesticide DDT would be highest in

a minnow

a mosquito larva

a seagull

plankton

algae

Our biosphere is

the Earth

the atmosphere

the ocean

land on Earth

fresh and salt water

What is meant by âcarrying capacityâ?

the amount of food produced in an ecosystem

the extent of energy required to maintain an ecosystem

the number of individuals that can be supported by an ecosystem

Species living on another is

resource partitioning

coevolution

symbiosis

predation

niche sharing

One species feeding on another is

competition

a community

an ecosystem

predation

symbiosis

Populations of different species interacting with one another in a natural environment is called

competition

a community

a biome

predation

symbiosis

Which of the following is not a biogeochemical cycle?

ATP cycle

water cycle

carbon cycle

phosphorus cycle

nitrogen cycle

Horses became larger and faster to escape predators. This is

stabilizing selection

disruptive selection

artificial selection

directional selection

CRM 1300 Lecture Notes - Lecture 2: Old Ways, Law, Bloody Code

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