Business Accounting And Financial Management-Myassignmenthelp.Com

Question: Discuss About The Business Accounting And Financial Management? Answer: Introducation Based on the case study, it has been found out that Big Business Tobacco (BBT) is a large manufacturer of tobacco products in Australia and it is the leading firm in relation to sales of cigarettes. In addition, China has been identified as the progressing nation, in which the organisation could seek opportunity in diversifying its business for enhancing the overall sales margin. Due to this, a debate about the health-related warnings has taken place in relation to printing on the cigarette packs. Henceforth, the major stakeholders involved in the debate are discussed briefly as follows: Marketing manager: It has been identified that Mary Bender, the marketing manager of BBT, has been associated with designing the cigarette packs, which would be initiated in the market of Australia. In this regard, Jondle, Ardichvili and Mitchell (2014) advocated that it is of utmost need for the marketing manager of an organisation to assure the initiation of a specific product in the target market. However, Dinnie (2015) argued that if the marketing manager of an organisation lacks in relevant knowledge and pertinent skills, it might lead to loss of the overall sales revenue of the firm. From the perspective of the marketing manager of BBT, the primary business target is to ensure profits for raising the overall shareholders wealth. Hence, including health-related warning on the cigarette packs might minimise the projected volume of sales of the firm in the market of Asia. Public relations manager: As observed from the case study, Randall Hedges, the public relations manager of BBT, is involved in designing the packet of cigarettes along with collaborating with Mart Blender. However, the personnel has laid down a perspective, which has been contradictory with the proposed strategy of the marketing manager. In the words of Zadek, Evans and Pruzan (2013), one of the significant stakeholders of an organisation is the public relations manager, as the personnel could be able to monitor the planned activities related to the campaigns and tasks of publicity. From the perspective of Randall Hedges, it is necessary for BBT to include the health warning on the packets of cigarettes, since it is compulsory to comply with the Australian regulations. This because with the help of such display of health warning, the organisation could ensure progress in the long-run, as it would improve its disclosures related to corporate social responsibility and concern for the consumers. Normal health-related warning on the packet of cigarettes: It has been assessed from the provided case that the public relations manager associated with BBT has enhanced the issue related to health-warning message on the packet of cigarettes to be initiated in the market of Asia. In this context, Locke, Alcorn and ONeill (2013) remarked that adding such warning on the cigarette packs would enable in raising the brand image of BBT. Due to this, the customers could be made aware of the negative effects of smoking on their overall physical health. This would help in raising the corporate social responsibility of BBT as well (Weiss 2014). Based on the modern medical findings, it is anticipated that smoking would result in eventual death because of smoking in the future, particularly in the developing countries. This could be adjudged as the main ethical issue in the debate. Conformance to the legal needs: From the case study, it has been found out that the main objective of BBT is to enhance the profit margin, which would enable in increasing the shareholder value. Moreover, in accordance with the legislations of Australia, the addition of health-related warning on the packets of cigarettes is necessary for a tobacco producer for conducting the overall business operations. Even though such warning has no negative impact on the performance of the business and this has been evident over the period (Zhu, Sun and Leung 2014). On the other hand, if the health-related warning is taken into account in the packets of cigarettes in the Asian market, BBT might not be able to expand its market share. Instead, it might lose considerable market share in contrast to its competitors. However, it would take into account the same in relation of amendments to the laws of Asia. This would help the organisation to attract new investors for raising additional funds in order to improve the business operations further in the market. Moreover, such disclosure would help the organisation in winning the overall trust and confidence of all the stakeholders in the nation, which, in turn, would ensure steady future growth and progress of BBT in the market. Therefore, this could be considered as another ethical issue, which has been raised in the debate. References: Dinnie, K., 2015.Nation branding: Concepts, issues, practice. Routledge. Jondle, D., Ardichvili, A. and Mitchell, J., 2014. Modeling ethical business culture: Development of the ethical business culture survey and its use to validate the CEBC model of ethical business culture.Journal of Business Ethics,119(1), pp.29-43. Locke, T., Alcorn, N. and ONeill, J., 2013. Ethical issues in collaborative action research.Educational Action Research,21(1), pp.107-123. Weiss, J.W., 2014.Business ethics: A stakeholder and issues management approach. Berrett-Koehler Publishers. Zadek, S., Evans, R. and Pruzan, P., 2013.Building corporate accountability: Emerging practice in social and ethical accounting and auditing. Routledge. Zhu, Y., Sun, L.Y. and Leung, A.S., 2014. Corporate social responsibility, firm reputation, and firm performance: The role of ethical leadership.Asia Pacific Journal of Management,31(4), pp.925-947.