Describe ethical and legal business solution

Assignment Help Business Management

Reference no: EM132549041

Scenario : Managing Cogs

Linda, a new employee, asks Steve for advice. Linda is the Project Manager for the Cogs product line as well as three other product lines scheduled to launch at the end of the year.

Linda: Hi, Steve. Do you have a minute to help me figure out a problem I found on the Cogs product line?

Steve: Sure. Tell me what the problem is.

Linda: Last week I got the invoice for the research I requested, and it cost way more than I thought it would. I'm not sure how it happened, but it looks like the Cogs product will be way over budget.

Steve: Hmm. Okay. So how can I help?

Linda: I guess I need to notify Finance and get a bigger budget approved. I'm a little nervous about asking for more money at this point. I was wondering if you would tell me how to do it.

Steve: You don't really have to do that. When I go over budget on one project, I can usually make up the difference by spending less than what I budgeted on another project. That way the bottom line stays even. The bottom line is all Finance really cares about.

Linda: Doesn't that make it harder for the people working on the other project, the one with a reduced budget?

Steve: Sometimes, but that's the way it goes. Anyway, they don't know why their budgets changed. They just have to deal with it.

As the manager of both employees, you will decide how to respond.

1. Describe your ethical and legal business solution and provide three sound reasons in support of your solution.

2. Describe three actions that you will take to implement your solution.

3. Does the situation make it essential to work with the human resources department? Provide two reasons to support your decision.

4. Does the situation make it essential to seek legal advice? State your decision and provide two reasons to support your decision.

Reference no: EM132549041

Questions Cloud

Find the impact on profit of accepting the order : Create a contribution margin income statement that shows the operating profit of the 6,000 units.Determine the impact on profit of accepting the order.

Prepare the journal entry to record compensation expense : A Wild West Corporation initiated a stock option plan for its management team on January 1, 20x4. Prepare the journal entry to record compensation expense

What are the three traditional training methods : What are the three traditional training methods? Detail the advantages and disadvantages of each in regard to learning. Your response must be at least 200 words

Discuss how a carbon tax regime is effective : Discuss how a carbon tax regime is effective (or not effective) to combat climate change?

Describe ethical and legal business solution : Describe your ethical and legal business solution and provide three sound reasons in support of your solution.

How the research has increased your understanding : Write a one-page reflection paper about how this research has increased your understanding of different cultures and how you would use this understanding.

What are the problems associated with food waste : What are the problems associated with food waste? Provide an analysis of possible solutions. Make a comprehensive argument

Prepare the adjusting journal entries required : On January 2, 20x5, a Trump Inc. issues convertible bonds maturing on December 31, 20x14. Prepare the adjusting journal entries required

Construct an absorption costing income statement : Construct an absorption costing income statement for Jackson Ltd for the year ending 31 December 2019. constuct a variable costing contribution margin

User Account

All Pages