Monday, February 17, 2020

Ethics and Social Responsiility of Corporations Essay

Ethics and Social Responsiility of Corporations - Essay Example Also because there is such a flux occurring , in individuals mind sets regarding their values , norms and belief systems which build up the ethical responsibility list , that it seems as if no individual could ever reach a point where , he/she would be able to describe a perfect list of ethics , ethical responsibility. In the Author's views Schools don't aid students nowadays, in learning or sustaining proper ethical behaviors. So, that they would be able to cope with the global environment. There exists a blame game, which initiates at a point where the business schools are blamed by some. Blamed, for not grooming their students in the right manner in terms of ethical value realization, and responsibilities. When it is time to take responsibility, then we see this Blame hat shifting from individuals to individuals, organizations, teams and groups of individuals. Employees are observed blaming the management for their workload and pressure, the management on the other hand blames the external environment, the competitive forces which are global. There are larger organizations blaming the environment as they believe that, in failing to co ordinate and innovate with the changing trends and patterns of organizations globally would mean bringing the organizations on the brink of extinction. The managements cannot be blamed, neither can the employees, suppliers, or consumers .Globalization has enveloped us all rather quickly and so we all need to cope up with this notion in our individual ways, at our distinct levels. This era of Globalisation has changed a lot many do's and don'ts in the ethical value record book. Because every individual is part of this, the blame will eventually fall to all. Every organization, or an individual on their own have distinct roles in society. So, each is seen playing their parts. Arguments on, whether child labor is acceptable or not Does pollution in third world countries promote employment for individuals Is the meaning of good ethical behavior this that we justify all acts of ours through our views of what seems ethical If management set minimum employee wages, the organization can prosper because of the fact that the organization would be able to sell at cheaper costs thus increasing market shares rapidly. It seems that there is an erosion of the less privileged. This has further shifted our notions in the 'I' direction. We can see characters building up the set of individual ethical mindsets, and values and so we raise a question of whether characters can be built Characters those are responsible ethically. All these and many more arguments have now initiated at distinct forums. Organizations, researchers and individuals are now looking at another picture, how we can comprehend what these changing values, and characters, behaviors and ideas are mounting up to. The traditional views and arguments are all now being overseen by new values, perceptions and belief systems. And so we see that a fresher look is being given to Ethics and Ethical responsibility and education, at distinct levels.It is now, considered essential for all individuals, organizations o look at ethics and define our ethical culture, and value system in a manner that would aid us in critically evaluating our Positions at various levels i.e. of organizational, employee level etc. It is vital that all courses that are designed at

Monday, February 3, 2020

Corporate Income Taxes - Tax-Planning Client Letter on Irrevocable Research Paper

Corporate Income Taxes - Tax-Planning Client Letter on Irrevocable Trusts, Gift Tax, and Estate Tax - Research Paper Example n this case, he will have estate and tax considerations as the part of the asset under irrevocable trust will not be reflected in his tax obligations. By removing a part of the estate from all incidents of ownership, my client will effectively remove them from his taxable estate, Hosseini (2013). Furthermore, the client will be relieved from tax obligations emanating from that part of asset under irrevocable trust. Though tax law differs among jurisdiction, the granter will not be exempted from the aforementioned tax relief if he remains the trustee of the trust. The fact surrounding this case is that the irrevocable trust has both drawbacks and benefits in equal measures. On the part of the disadvantages, the trust cannot be revoked, as the name suggest. In addition, it cannot be amended to accommodate other inclusions or exclusions. On the other hand, the granter is exempted from various tax burdens including estate and income taxes. These facts are significant for my client so as to make a sound decision. The issue in this legal matter is that the granter is interested in establishing an irrevocable trust in favor of his two grandchildren. In this case, his interest is two have the beneficially receive the income from the estate to be distributed to the two children until they are 20 years of age. In this case, they are interested in knowing the benefits and drawbacks of taking this particular choice or rather to learn of other available channels that can be used to address their interests. Rules and regulations governing estate tax in America are enshrined in the estate and gift act of 2001 together with a multiple amendment to the same. The Act provides that estates are subjected to taxation that is gazetted in the government press in a given period of time. In this case, the tax is payable by the person to which the estate in registered or the trustee, Frischmann (2008). This implies that my client, as the registered owner, is supposed to remit both the