James Liang And The Volkswagen Emission Scandal Essay

James Liang and the Volkswagen Emission Scandal An Ethical Examination On September 9, 2016, a veteran engineer of Volkswagen AG by the name of James Robert Liang pleaded guilty to charges of conspiracy to defraud the government, committing wire fraud, and violating the U.S. Clean Air Act. While working in Germany in 2006, Liang was part of a team charged with producing a new fuel-efficient diesel engine that satisfied new U.S. regulations on vehicle emissions. He and his team eventually came to the conclusion that their engine could not satisfy these new regulations while maintaining consumer expectations of engine performance. Their solution to this dilemma was to implement illegal software (known as a â€Å"defeat device†) into newly produced vehicles sold in the U.S. The purpose of this software was to detect any emissions test being performed on a vehicle and alter the results to show cleaner emissions on the onboard computer. Nearly 500,000 vehicles with this defeat device were sold in the U.S.; by 2008, consumers beg an to experience issues in their vehicles (not knowing it was due to the emission test software), and Liang worked to refine the device even further. The entirety of the scandal eventually came into the public spotlight in 2015 (Guess, 2016, p.1). The subsequent paragraphs of this essay will first discuss Kantian duty ethics and rule utilitarianism, and focus on analyzing the moral implications of Liang’s actions in reference to these moral theories. KantianShow MoreRelatedThe Case Of Engineer James Liang And The Volkswagen Emission Scandal1291 Words   |  6 Pagesoften be asked regarding the case of engineer James Liang and his role in the Volkswagen emission scandal. During the period of early 2006 to 2014, James Liang and his team of engineers developed a â€Å"defeat† device that allowed diesel powered vehicles to pass the EPA emission test, when in fact the vehicles were emitting up to 30 times the allowable limit. To many, this may seem a black and white case o f ethics due to the fact that Liang’s team and Volkswagen blatantly cheated on a governmental testingRead MoreAn Investigation Into The Volkswagen Emissions Scandal After Research Essay1636 Words   |  7 Pagesis an ongoing investigation into the Volkswagen emissions scandal after research indicated a large discrepancy in emissions during testing and road operation conditions on some of the company’s diesel engine vehicles.[1] On September 9, 2016, James Liang, an experienced Volkswagen engineer and head of the company’s Diesel Competence unit in the U.S., pleaded guilty to taking part in a fraudulent scheme to allow certain Volkswagen vehicles that violated emissions regulations to pass testing proceduresRead MoreThe Vs. Emission Testing1200 Words   |  5 Pagestopic that the Volkswagen engineer James Liang pleads guilty for his role in cheat U.S. emission test. Back to last year James Liang and his co-conspirators designed and implemented software for new â€Å"EA 189† diesel engine, to cheat the missions tests. They knew it was impossible to create a diesel engine that could meet the U.S. emission standard, so they developed a software â€Å"defeat device,† which could recognize the difference between using the dynamometer to measure the emission quality in U.SRead MoreThe Principles Of Teamwork, Leadership Practices, And How These Influenced Business Outcomes Essay1962 Words   |  8 PagesOnce known for quality automobiles, Volkswagen is now perceived as a global corporation that deliberately deceived the U.S. government and defrauded customers. In this paper our team investigated the principles of teamwork, leadership practices, and how these influenced business outcomes. Research indicated that Volkswagen’s corporate culture has not always been the best. Dictatorial executive leadership and a culture where â€Å"success at all costs† outweighed ethics created an environment hostile toRead MoreStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 PagesUniversity Jann Freed, Central College Crissie Frye, Eastern Michigan University Diane Galbraith, Slippery Rock University Carolyn Gardner, Radford University Janice Gates, Western Illinois University Ellen Kaye Gehrke, Alliant International University James Gelatt, University of Maryland University College Joe Gerard, University of Wisconsin at Milwaukee Matthew Giblin, Southern Illinois University Donald Gibson, Fairfield University Cindi Gilliland, The University of Arizona Mary Giovannini, Truman State

The Free Journalist Essay - 1466 Words

American journalism is a constantly evolving field, and the freedoms granted by the Constitution allow the news media to flourish in a fairly unrestricted environment. As an integral part of the democratic United States, the media is responsible for keeping citizens informed and involved in their government and society. However, the media is not infallible, nor is it omniscient. Since its conception, it has faced detractors both foreign and domestic, and from every feasible political party. Despite its legions of reporters, analysts, and executive producers, the news media is unable to follow every story and capture each moment in detail. America is a dynamic aggregation in a state of perpetual expansion, and the media today is facing†¦show more content†¦Footage from the 9/11 attacks and the â€Å"Miracle on the Hudson† was first taken by bystanders effectively acting as citizen journalists (Emerson College ECommunication Thoughts). However, stories may also be negle cted due to the bias of networks and publishers (Outing). Various news stations, including Fox News and MSNBC, have a history of coming under fire for intense political bias. Although personal bias is usually negligible in the professional realm, political bias often stems from the influence of network heads and their monetary goals (Marcovitz 27). Journalists are often called â€Å"watchdogs† focused on keeping the government in check (Marcovitz 6). The effectiveness of citizen journalists is often in question; professional journalists are trained to keep their personal biases in check. However, a B.A. is not required to have moral compass. Although citizen journalists have no professional training, many still follow a certain code of ethics (Marcovitz 51). A metaphor is implemented to describe the position citizen journalism must hold: One way to conceptualize this new journalism, at its best, is to imagine it as a great jazz performance. Citizen journalists, bloggers, pro-am journalists and innovators we cannot even imagine would contribute along with paid professional journalists. The former would be the improvisers who would push the implicit logic and beauty of the music to its limits. The latter, theShow MoreRelatedMedia Law in Australia1303 Words   |  5 Pagesobjective of this work in writing is to examine media law in Australia and to answer the question of whether journalists should receive protection against revealing their sources in court. This work will discuss the merits of each side of the argument. Introduction Journalists are reported to be susceptible to being jailed for refusing to reveal their sources in court while simultaneously, journalist complain they are denied access to information, particularly background information on government decisionsRead MoreJournalists Privilege to Keep the Identity of His or Her Sources Secret660 Words   |  3 Pagesoccur when courts interact with media, specifically journalists. The court can often use information released by journalists as evidence; however, for the information to be usable a journalist must confess his or her sources. Yet, many journalists will not divulge their sources, creating difficulties for the court and in many cases, this kind of refusal of revealing sources can land a journalist in jail for contempt. 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EditorsRead MoreThe Truth Behind War Coverage846 Words   |  4 PagesThe Truth Behind War Coverage in the 21st Century In the 90’s, CNN introduced the world to â€Å"live coverage† when they sent journalists to Baghdad to cover the first Gulf War. This was ground breaking journalism that opened several doors in the media industry and there wasn t a journalist that didn’t envy the team of men and women that were sent to Baghdad to report the war. Network stations today have followed suit when it comes to war coverage, to the way that CNN has paved for broadcast mediaRead MoreMedia Bias Of The United States1389 Words   |  6 Pagesvariation on their beliefs, but I must disagree when you say all journalists and writers are biased because, â€Å"they push their agenda in news and entertainment.† Media bias comes from a multitude of factors, who enters careers in writing and journalism, where journalists get information from, and how audiences receive news and media. When looking at how written work is biased, one must look at who is doing the writing. On the whole, journalist are white, upper class individuals (Williams). This is becauseRead MoreFreedom of Speech and Freedom of the Press in Nigeria972 Words   |  4 Pagespolice arrested six journalists from the Nation Newspaper in October after they published a purported letter from former President Oluseggun Obansanjo.† (Human Rights Watch). This clearly confirms that although Freedom of Speech laws are in place to protect the opinions and expressions of journalists, and protect the lives of those who publish such information, corruption in Nigeria by government officials is overruling those laws. Government officials are punishing any journalists for publishing any

Marketing Mix Model of Qantas Airline †MyAssignmenthelp.com

Question: Discuss about the Marketing Mix Model of Qantas Airline. Answer: Introduction Themarketing mix is considered as the foundation model to understand the current market demand in the context of any organization (Festa et al., 2016). Product, price, promotion, and place are the four components of themarketing mix. In the recent years, marketing mix becomes a dominant framework that allows the business organization to take the decision regarding their business (Srijumpa, 2017). This assignment deals with the marketing mix analysis in the context of Qantas Airline based on its target market. It is important for the organization to give value to their customers and offer product according to their demand. Summary of the previous assignment based on the target market analysis and segmentation The target market of the Qantas Airline includes both business travelers and the leisure. However, traveling is a common need of the individuals who are associated with the business. Hence, the business travelers and the leisure travelers are the good target for Qantas Airline to enhance their profit in the business. The target customers of Qantas Airline aged 18 to 60 years. However, people of this age are able to show their choice regarding the traveling. People who are associated with the fashion trends will be the good target customers of Qantas Airline as such individuals like to gain new experience through the traveling. By achieving the leverage relation regarding its target customers Qantas Airline has obtained its position. Apart from this adoption segmentation is applied by Qantas Airline as it allows such organization to meet the demand of the customers. Marketing Mix According to the above PLC or product life cycle, it has been identified that the service or product of Qantas Airline is in the growth phase of the PLC. However, product in the growth phase means this service or product is going toward the maturity that ensures the profitability of a business (Adams, 2016). Branding is an important part of the product in the marketing mix (Dadzie et al., 2016). In the context of Qantas Airline, their branding logo is vital for their business. However, such organization uses different logos for their different brands. Kangaroo Icon is one of latest brands of Qantas Airline that gets significant profit in their business. Packaging The packaging is another part of the product strategy in the marketing mix. In the context of Qantas Airline, they use unique packaging method for their products within the flight and they follow unique design in their packaging. However, Qantas focuses on the environmental sustainability thus their packages can be recycled, which is a vital aspect of their packaging method. On the other hand, their attractive packaging method is effective to attract the customers. Labeling Labeling and the product quality of Qantas airline are very well this includes creativity to attract their customers. However, the labeling and the quality of the product should be unique in nature as this makes a business unique from other (Srijumpa, 2017). They provide safe service as it is vital for the customers to get a safe service within a flight. Therefore, the food quality of the Qantas Airline is also good that is provided to the customers. The labeling method of Qantas product follows unique design to gain the customer attention towards their product. Product mix Type of product Product Feature Enhancement of the economy service Offering new menu in economy classes of Qantas Airline including various types of food and beverages. Virtual reality glass Qantas Airline provides virtual reality glass to their customers to see the world in a unique way Offering discount to the regular customers Discount in booking and reward are provided Table 1: Product mix (Source: Ahmed Rahman, 2015) Augmented Service Qantas Airline provides augmented service to the frequent fliers. I-phone app and the Smartphone app are the suitable apps of the augmented service off Qantas airline. These apps are beneficial for the frequent fliers to take the current booking in the Qantas airline. Such augmented services will be beneficial for such organization to increase their customer loyalty and increase in the sales revenue generation Pricing Strategy Pricing strategy is one of the vital elements of the marketing mix as the success of a business depends on the selection of the pricing strategy of an organization (Sari, 2017). Qantas Airline follows cost plus margin strategy to set the price of their product and service. In order to fulfill the high demand of the market competitive pricing method is also used by Qantas. They offer refunding, which enhances their customer loyalty for such organization. They offer the discount as well as the low price for the existing and new customers. This will fulfill the demand of the business and leisure travelers. Promotional Mix Integrated marketing communication strategy is beneficial for the business organization to involve their stakeholders in the business promotion (Ahmed Rahman, 2015). Integrated marketing communications Features Inside-out approach This allows Qantas to provide the single unified message to their stakeholders for their business promotion by assimilating the elements of the communication. Cross functional strategic approach This creates a customer centric environment during the promotion of the product. Outside-in approach This allows Qantas to understand the demand of their target market during their promotion of the product. Table 2: IMC (Source: Moorthy Suresh, 2014) People The target market is the business and leisure travelers in context of Qantas Airline. They focus on the age group between 18 to 60 years as this age is able to make the decision about their travel. However, it is important for the business organization to select their target people to give success to their business (Moorthy Suresh, 2014). Process Market penetration strategy, discount strategy and providing customer value are the main processes of Qantas Airline to carry out their marketing mix strategy (Jin, Kim Kim, 2015). Such method enables this organization to build a good relationship with their stakeholders, which give a valuable shape to their business. Physical evidence Physical evidence plays an important role in a marketing mix as it enables an organization to attract their customer towards their service (Moorthy Suresh, 2014). However, in the context of Qantas Airline, they use the logo in their products that increase their brand awareness among the customer domain. Conclusion This above study focuses on the application of the marketing mix model in the context of Qantas Airline. Product, price, promotion, and place are the four major elements of the marketing mix. It has been found that Qantas uses discounts in their service and they also use competitive strategy to penetrate in a market. Furthermore, use of the unique logo in their product increase their brand awareness. Recommendations Product life cycle or PLC is a good idea, as it will enable an organization to understand the phases of product life cycle from development to its decline. However, the Qantas Airline should follow the PLC practice to maximize their profit. PLC management will be helpful for Qantas Airline to reduce the cost of market entry. PLC management can be considered as the profitable and efficient distribution channel. Qantas Airline will be able to get high return from their investment by PLC management. References Adams, M. E. (2016).Beyond the Glass: Examining Wine Tasting Room Profitability Using the 4Ps of the Marketing Mix(Doctoral dissertation, Virginia Tech). Ahmed, S., Rahman, M. (2015). The effects of marketing mix on consumer satisfaction: A literature review from Islamic perspective. Dadzie, K. Q., Amponsah, D. K., Dadzie, C. A., Winston, E. M. (2017). How Firms Implement Marketing Strategies in Emerging Markets: An Empirical Assessment of The 4A Marketing Mix Framework.Journal of Marketing Theory and Practice,25(3), 234-256. Festa, G., Cuomo, M. T., Metallo, G., Festa, A. (2016). The (r) evolution of wine marketing mix: From the 4Ps to the 4Es.Journal of Business Research,69(5), 1550-1555. Jin, N., Kim, J., Kim, K. H. (2015, June). THE SERVICE MARKETING MIX EFFECT ON CUSTOMER EXPERIENCE AND CUSTOMER EQUITY IN THE SERVICE INDUSTRY. In2015 Global Fashion Management Conference at Florence(pp. 838-844). Moorthy, D., Suresh, G. (2014). Consumer Perception on Private Label Products in Coimbatore.Journal of Commerce and Management Thought,5(2), 241. Sari, R. P. (2017). Marketing Mix Implementation in Small Medium Enterprises: A Study of Galeristorey Online Business.ETIKONOMI,16(1), 115-126. Srijumpa, R. (2017). What beyond marketing 3.0: The 4Ss marketing mix strategy for sustainability.Journal of Global Business Review.,15(1), 1-12.

Shareholder Wealth Maximization free essay sample

The ultimate goal of any financial manager (as well as the firm) is the maximization of shareholders’ wealth. A good financial manager therefore should carefully consider and weigh the risk of undertaking a certain project against the profits associated with undertaking such a project. Capital Budgeting techniques enable the manager to make such decisions. The first question that comes to mind is, when making a capital investment decision, should we focus on cash flows or accounting profits. The book is stating â€Å"In measuring wealth or value, we will use cash flows, not accounting profits, as our measurement tool. That is, we will be concerned with when the money hits our hand, when we can invest it and start earning interest on it, and when we can give it back to the shareholders in the form of dividends. Remember, it is the cash flows, not profits that are actually received by the firm and can be reinvested. We will write a custom essay sample on Shareholder Wealth Maximization or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Accounting profits, however, appear when they are earned rather than when the money is actually in hand. † The answer to the question now seems too obvious; it is cash that buys new equipment, used to pay suppliers and employees etc; it is also cash that is to be reinvested to further increase shareholders’ wealth and hence brings the firm closer to its goal. This brings us to another question, should all cash flows associated with the project be considered? Again, the book provides an answer â€Å"In measuring cash flows, however, the trick is to think incrementally. In doing so, we will see that only incremental after-tax cash flows matter. † By incremental we mean â€Å"marginal†, or â€Å"additional†. Incremental cash flows are those cash flows that would affect the capital budgeting decision, but another condition also applies, those incremental cash flows must be considered on after-tax basis, this is because what really increases the value of the firm is the net cash flow (free cash flow) that would be available to the financial manager in considering future investments. In analyzing a project, one has to also consider depreciation, and although depreciation in itself is a noncash expense, it still affects free cash flow because it has an effect on taxes. Depreciation reduces Earnings before Tax (EBT), and therefore reduces the Tax Expense. Another important type of cost that needs to be discussed is what is known as â€Å"Sunk Costs†. As discussed above, only incremental (differential cash flows) need to be considered in making a capital budgeting decision, yet if the firm has, for example an empty lot of land that it had purchased in the past and that lot of land is suitable for the investment decision on hand, does the financial manager need to consider the cost of this piece of land when making his capital budgeting decision? The answer is a firm â€Å"No†; and the reason behind this is real logical: if the investment is not accepted, the cost of the land cannot be recovered, hence whether or not the investment is undertaken; the cost of the land (a sunk cost) is irrelevant to the decision. As I have stated earlier, in making a capital budgeting decision, the financial manager needs to consider only incremental cash flows, and the first of those are the initial outlays. This is because to take up an investment, the financial manager needs to make sure he has the funds initially required to undertake a certain investment (project). Those include, for example, cost of equipment, installation costs, cost of training as well as any increase in Working Capital. Based on the above, and based on the calculations on the attached excel sheet, the initial outlay for the new project is $8,100,000. The second set of cash flows that need to be analyzed is the â€Å"Differential Cash Flows†; again as stated above, those are the cash flows that are relevant to the project under consideration. Those include (but are not limited to), added revenues (less added selling expenses), any labor and/or material saved or incurred, any increase or decrease in overhead costs. Needless to say here that all such cash flows should be analyzed on after-tax basis. Such cash flows, however should not include any finance charges whether those are interest charges paid on a bank loan, interest charges on the firm’s issued debt securities, as well as dividends on preferred and common stock. The reason behind such exclusion is that such finance charges are implicitly accounted for when calculating the cost of capital (also known as the Weighted Average Cost of Capital). Having said that, Caledonia’s differential cash flow (as per the attached xcel sheet) are: Year 12345 $3,956,000 $8,416,000 $10,900,000 $8,548,000 $5,980,000 The last type of cash flows to be examined is the Terminal cash flow which includes all incremental cash flows realized at the termination of the project such as the salvage value of the equipment plus (or minus) any taxable gains or losses associated with selling the equipment. Terminal cash flows also would include any non-expen se cash outlays related to the project such as the recovery of working capital needs. Caledonia’s terminal cash flow then is $5,980,000 as per the above table and the attached excel sheet. A cash flow diagram of the project would provide a full image of the cash out flows and cash inflows associated with the project as it would provide a summary of those cash flows that are to be analyzed using the various capital budgeting techniques: $3,956,000 $8,416,000 $10,900,000 $8,548,000 $5,980,000 0 1 2 3 4 5 $8,100,000) Going back to the main goal of the firm maximization of shareholders’ wealth, an important question arise: how can the financial manager of Caledonia make sure that the new project adds to the value of the firm. Capital Budgeting techniques would help, and the first of such techniques is the Net Present Value method. Net Present Value (NPV) is a capital-budgeting decision criterion defined as the present value of the free cash flows after tax less the project’s initial outlay. The most important advantage of the NPV as per the book is as follows: â€Å"The project’s NPV gives a measurement of the net value of an investment proposal in terms of today’s dollars. Because all cash flows are discounted back to the present, comparing the difference between the present value of the annual cash flows and the investment outlay does not violate the time value of money assumption. † . This method tells us to accept any project for which the NPV is equal to or greater than zero. Applying this to Caledonia, the NPV is equal to $16,731,096. (Please see the full analysis on the attached excel sheet). Another capital-budgeting decision criterion that is widely used by financial managers is the Internal Rate of Return (IRR), which is defined as â€Å"the discount rate that equates the present value of the project’s free cash flows with the project’s initial cash outlay. † The IRR method states that projects with an Internal Rate of Return that is equal to or higher than the required rate of return should be accepted. This makes sense because if the project’s rate of return (IRR) is equal to the required rate of return, then investors would be happy as they are earning the rate of return that they initially require. The Internal Rate of Return of the proposed project is 77% (Please see the attached excel sheet). Based on the above, Caledonia should accept the project since its Net Present Value is greater than zero, and the Internal rate of return is much higher than the required rate of return. Equally important as maximizing shareholders’ wealth, risk management is an important consideration when evaluating new projects. In capital budgeting, risk can be measured from three perspectives; first there is the Systematic Risk, and this type of risk is the risk of the project from the view point of a well-diversified Finally, there is systematic risk, which is the â€Å"risk of the project from the viewpoint of a well-diversified shareholder; this measure takes into account that some of a project’s risk will be diversified away as the project is combined with the firm’s other projects, and, in addition, some of the remaining risk will be diversified away by shareholders as they combine this stock with other stocks in their portfolios† The second type of risk is the Project’s Contribution to Firm Risk, which is the â€Å"the amount of risk that the project contributes to the firm as a whole; this measure considers the fact that some of the project’s risk will be diversified away as the project is combined with the firm’s other projects and assets, but ignores the effects of diversification of the firm’s shareholders† . Finally, there is the Total Risk (or stand alone risk of the project) which combines all risk associated with the project ignoring the fact that some of this risk will be eliminated through diversification. Actually, according to CAPM, the only relevant risk for capital budgeting purposes is Systematic Risk yet sometimes the firm might have undiversified shareholders, and for them the only relevant measure of risk is the project’s contribution to the firm’s risk. For these shareholders, a project’s contribution to firm risk brings the ghost of bankruptcy closer and therefore such measure of risk could be more relevant. Risk can also be incorporated into capital budgeting analysis through the use of simulations. Simulation â€Å"involves the process of imitating the performance of the project under evaluation. This is done by randomly selecting observations from each of the distributions that affect the outcome of the project, and continuing with this process until a representative record of the project’s probable outcome is assembled. † This enables the financial manager to base his decision on a range of possible outcomes. Usually Simulations are accompanied by a Sensitivity analysis (also known as the What-if Analysis). In this analysis, the financial manager changes the value of one input variable (Direct material, Direct Labor, Variable Overhead Rates, Interest Rates) while holding all other variables constant. The distribution of possible net present values and/or internal rates of return â€Å"is then compared with the distribution of possible returns generated before the change was made to determine the effect of the change. † In conclusion, a financial manger must realize that there is always a trade-off between risk and return, he should always utilize the tools available to him in considering any new projects such as capital budgeting techniques (Net Present Value, Internal Rate of Return, †¦etc) as well as simulations and sensitivity analysis to arrive at the most accurate decision. He also need to know how shareholders perceive risk and how they measure it so as to avoid agency problems and arrive at the ultimate goal of the firm- Maximizing shareholders’ wealth. In analyzing Caledonia’s proposed project, we only performed a capital budgeting analysis and based on that the project seems to be acceptable, but the financial manager should also strive to conduct other forms of analysis as stated above to ensure that he has taken all possible measures to achieve his goal. References: