Melbourne Institute of Business & Technology

MELBOURNE INSTITUTE OF BUSINESS & TECHNOLOGY

MMM132/MMMP132Management

Trimester 2, 2012

Assignment 2—Academic Essay (individual work)

BACKGROUND:

In the 1970s Milton Friedman argued that the sole purpose of business was to maximise profits based on the assumption that such action would benefit society through increased employment. Since this time the debate surrounding the degrees to which today’s organisations should be socially responsible has been the source of much research.

Task:
Write a 3000 word academic essay providing critical debate of the following question:
Should the primary objective of management be to increase the wealth of shareholders and owners?

ASSIGNMENT Requirements:

Compulsory assessment task: Students must complete all assessment tasks for this unit in order to be considered for a pass grade or better. It is therefore compulsory to submit Assignment 2.

Due date: Online submission to MIBT Portal by1.00 pmon Wednesday 5 September 2012.

Assessmentmarks:This assignment is worth 30 marks, which is 30% of your final grade.

Word limit: 3000 words (+ or – 10%;excluding References).

Sources:Students must use at leastten (10)academic references for this assignment. At least sixof these must be articles from academicjournals.Other academic references may include university textbooks but notWikipedia. See the list of journals on the Portal in week 1.

Sourcesyou may choose to use in your assignment:

Ahlstrom, D 2010, ‘Innovation and Growth: How Business Contributes to Society’, Academy of Management, August, pp 11-24.

Bejou, D 2011, ‘Compassion as the New Philosophy of Business’, Journal of Relationship Marketing, issue 10, pp 1-6.

Cosans, C 2009, ‘Does Milton Friedman Support a Vigorous Business Ethics?’ Journal of Business Ethics, issue 87, pp 391-399.

Craig Smith, N 2003, ‘Corporate Social Responsibility: Whether or How?’ California Management Review, vol. 45, no. 4, Summer, pp 52-76.

Husted, BW & de Jesus Salazar, J 2006, ‘Taking Friedman Seriously: Maximising Profits and Social Performance’, Journal of Management Studies, 43:1, pp 76-91.

Shaw, W 2009, ‘Marxism, Business Ethics, and Corporate Social Responsibility’, Journal of Business Ethics, 86, pp 565-576.

Van Beurden, P & Gossling, T 2008, ‘The Worth of Values – A Literature Review on the Relation Between Corporate Social and Financial Performance’, Journal of Business Ethics, 82, pp 407-424.

Wilcke, RW 2004, ‘An Appropriate Ethical Model for Business and a Critique of Milton Friedman’s Thesis’, The Independent Review, volume IX, no. 2, Fall, pp 187-209.

Citations and references: all ideas from reading sources must be correctly cited and referenced using the Deakin author-date (Harvard) system.

APPROACH TO WRITING YOUR ASSIGNMENT:

You are required to write an academic essay. An essay at university level is:

an argument
more specifically it is your argument in relation to the question that you have been set. This means that it is not just a summary of someone else’s views or writing, but is instead a piece of academic work in which you present your answer to the question asked, that draws on a range of other people’s published academic material to support and develop your answer;
an argument must have a clear, logical structure:
This means explicit sections that each deal with a particular aspect of your core argument and an introduction that tells the reader what you will argue and how you will structure our argument.
an essay that has evidence of substantial reading of relevant academic material;
an essay that supports its main points through references to published academic material;
a paper that has a conclusion which summarises again your argument and how you developed this in the main sections of your essay;
a paper that has an alphabetically ordered reference list of the sources referenced/cited in its pages.

ASSIGNMENT SUBMISSION INSTRUCTIONS:

Students are required to submit their assignment (in MS Word) online in a designated area in the unit on the Portal.
Students MUST ensure the following:
the paper is typed, with 1.5 line spacing
a title page is included
page numbers are included
the ‘Declaration’ is completed. This takes the place of an MIBT cover sheet.
No extensions will be considered for assignment submission due dates without the approval of the Unit Coordinator. If you believe you have circumstances beyond your control that make you eligible to apply for an extension, you must apply directly to the Unit Coordinator, Terry Gibson, via e-mail: Supporting documentation must be provided.
NO hard copy is needed. Do not submit one to your lecturer’s locker.

assignment results:

Your results and assessor’s comments will normally become available to you within 15 business days of the due date (unless an extension has been granted). Marks can be accessed from the Portal once the Unit Coordinator has released the marks (ie after all marking has been completed). Papers will be returned to students via the Portal. You will be advised by e-mail when marked papers are ready for you to access.

Before results are returned to students, the unit team will moderate the marking process to ensure that the same marking standards are applied to all students within the unit. If necessary, you may request additional information from your lecturer.

Please note that it is compulsory to submit Assignment 2, but it is not compulsory to pass Assignment 2 in order to pass the unit.

If you wish to discuss your essay results with your lecturer, you MUST ensure you have the marked grade form, and can justify why you believe the grade to be incorrect. This means you will need to provide evidence from the Grade Form (at the end of the assignment) to support your claim before a review will be conducted. Your lecturer will then examine your essay to determine if a review of the grade is warranted. Should your lecturer ascertain so, your lecturer will notify the Unit Coordinator. A request for a review of results will only be accepted by the Unit Coordinator from a lecturer within 5 days of the marks being released. Please remember, receiving a disappointing result is not a justification for review.

WRITING and referencing SKILLS:

In this essay students have the opportunity to demonstrate their understanding of management through a practical and realistic approach to their basic research methods.

Researching, writing and referencing skills are valuable in all facets of management practice. Effective writing is an essential skill for good managers because written documents provide busy executives with accurate information and appropriately informed viewpoints from reliable sources. Poorly researched work leads to poor decision-making, thereby compromising management.

Students are also expected to be constructively critical and analytical when they write about what they have read. This is important because an important aspect of presenting material to senior managers is to provide a balanced viewpoint; that is, to present alternative interpretations and to outline both the positives and negatives of any particular option. This ensures that the conclusions drawn are not biased.

Please note that all ideas within your essay, which have been obtained from your sources, will need to be cited and referenced using the Deakin author-date (Harvard) system. This system is used for other assignments submitted for Faculty of Business and Law units.

These are the reasons why you need to develop your academic writing skills and learn the art of constructive essay writing.

FINDING ACADEMIC JOURNAL ARTICLES:

Academic journal articles include References and have been peer-reviewed or checked by other academics before publication. They are accessed from library databases.

Eight academic journal articles have been provided to help you start your assignment and these may be included as sources for your academic references.

Other academic journals can be found by conducting a search of the Deakin Library databases. A list of good management journals is also provided on the Portal in week 1. Access these journals via the Deakin Library website to obtain these articles free of charge. A .pdf version generally is the best one to work from, so make sure that you already have Adobe Acrobat software loaded on your computer.

Suggested Essay Layout:

Do include page numbers
Do provide a title page stating title of essay, your name and Student ID
Do include a footer stating again your name, Student ID
Do not start separate sections of the essay on separate pages

Introduction

This first paragraph introduces the essay and tells the readers explicitly what your argument is and how your essay will be structured into sections to make this argument. Make sure your argument clearly addresses the question set.

Paragraphs

develop the points you want to make from the introduction. In every paragraph the points you make should develop in a logical sequence AND be supported by references to, and discussion of, academic work/other supporting sources;
ensure that each paragraph has one main objective as a point of discussion;
at the end of each paragraph remind the reader of what the paragraph has pointed out, AND how the next section builds further on this (ie your argument)

Conclusion

re-statement of your essay topic/aims/objectives, ie ‘In this essay I have argued that …..’
make it absolutely clear how your essay has answered the question set.

References

Separate page, with a heading
Contains all sources cited in the essay
Presented in the Deakin author-date (Harvard) system

THE PREP METHOD OF STRUCTURING PARAGRAPHS:

There are many different ways of constructing a good essay paragraph. The PREP method is one which many students find a helpful way to present a convincing argument or viewpoint:

Pdescribe the point you wish to make

e.g., Business students need to learn how to conduct research.

Rexplain the reason why your point is important

e.g., Proper research generates reliable and objective data on which management can base their decisions.

Eprovide an example to illustrate your point

e.g., Incorrect information about a competitor could lead to a costly and inappropriate advertising campaign.

Pdescribe the point you have just made

e.g., Therefore, research that is accurate and up-to-date ensures that management decisions are successful.

Example of a poor paragraph:

Business students need to learn how to conduct research. Proper research generates reliable and objective data on which management can base their decisions. For example, incorrect information about a competitor could lead to a costly and inappropriate advertising campaign. Therefore, research that is accurate and up-to-date ensures that management decisions are successful.

Note that ‘accurate and up-to-date’ provides a definition for ‘proper research’ and ‘reliable and objective data’ explains the foundation for a ‘successful’ business decision.

Note also that the above paragraph follows the PREP model but includes no citations. Therefore, it is merely an unsubstantiated claim made by the writer. In order to substantiate the claim and make it credible, the writer needs to include a citation for a journal reference to back up the point being made (first sentence) and why it is important to know (second sentence). The example (third sentence) is hypothetical so does not need to be supported by a reference. The final sentence point is a conclusion drawn from reading the two articles so it also does not need a reference. So the paragraph should look like this:

Example of a good ‘PREP’ paragraph (includes citations):

Business students need to learn how to conduct research (Smith 2008). Proper research generates reliable and objective data on which management can base their decisions (Jones 2007, p. 123). For example, incorrect information about a competitor could lead to a costly and inappropriate advertising campaign. Therefore, research that is accurate and up-to-date ensures that management decisions are successful.

Please remember that it is neither compulsory nor appropriate to always follow the PREP structure, and that PREP is not a requirement or assessment criterion for this Literature Review Essay. Depending on the type of essay, the specific topic, the specific task, or your own writing style preferences, it may be more successful to use alternative paragraph structures.

RESOURCES FOR ACADEMIC WRITING AND REFERENCING:

You are required to include in-text citations throughout this essay, as in all your academic assignments, to demonstrate your research and show the sources of your ideas. All sources cited in the essay must also be included in the References section. Citing and referencing correctly is how good students show that they understand the rules of academic writing and avoid plagiarism. It is also good management practice to include correct and complete details about sources of information in written documents. This demonstrates to the manager that the advice being offered is supported by objective information from credible sources and not the simply the subjective opinion of the writer. Any writer who omits citations and references is regarded by management as a plagiarist and incompetent researcher whose work cannot be trusted.

Written assessment tasks can vary from unit to unit and even within one unit. Examples of writing styles used for assessment in the Faculty of Business and Law include assignments, essays, case studies and reports. It is important that you understand what is required of a particular writing style to maximise your chances of academic success.

Referencing involves acknowledging original sources of information when producing written work. By referencing correctly, you not only give weight to any arguments or statements made in your work, but also avoid plagiarism.

It is highly recommended that you obtain and use the following booklet published by the Deakin Division of Student Life and provided free of charge to first year MIBT students at Orientation:
Gaspar, M & Shepherd, M 2009, Guide to assignment writing and referencing, 3rd edn, Geelong, Deakin University.

The following Deakin weblinks also provide relevant and helpful explanations and examples. Most of these can be downloaded if you wish:

Division of Student Life: ‘Referencing using the author-date (Harvard) system’:
Division of Student Life ‘How to Reference Your Writing’:
Library: A virtual tutorial on referencing and online quiz:
Division of Student Life: ‘Resources: Reading and Writing’ including different writing styles:

Please make use also of the Academic Skills Moodle tab to assist you with research and writing skills. Morag Burnie, MIBT Academic Skills Advisor, is available to help you further with academic learning skills. You are urged to attend the Academic Skills Workshops held each week to assist you with this assignment, and with all your academic studies at MIBT. Check the Academic Skills Moodle tab for further information.

Plagiarism and other forms of cheating:

All assignments may be checked for plagiarism (via Turnitin) and disciplinary procedures will be initiated if any student’s work is found to include plagiarism (i.e., penalties will be imposed relative to the degree of infringement. Please see Plagiarism and Collusion Policy, and Academic Misconduct Policy on the Portal under Forms).

Plagiarism is the copying of another person's ideas or expressions without appropriate acknowledgment and presenting these ideas or forms of expression as your own. It includes not only written works such as books or journals but data or images that may be presented in tables, diagrams, designs, plans, photographs, film, music, formulae, web sites and computer programs. Plagiarism also includes the use of (or passing off) the work of lecturers or other students as your own.

Plagiarism is a form of cheating that the University regards as an extremely serious academic offence. The penalties associated with plagiarism are severe and extend from cancelling all marks for the specific assessment item or for the entire unit through to exclusion from your course.

It is important to realise, however, that it is certainly not cheating to use the work of others in your work. On the contrary - a well-constructed essay or report should normally refer to and build on the work of others for positioning, supporting and strengthening your work and advancing knowledge. Plagiarism occurs when due recognition and acknowledgement of the work of others is not provided. Therefore, whenever you are using another person's research or ideas (whether by direct quotation or by paraphrasing) you must appropriately cite the source. If you are ever in doubt about the most appropriate form of referencing, you should consult your lecturer or Student Life.

Talking about your assignment with other students is acceptable and encouraged. However, jointly writing up the assignment, or using the same written words from your discussion, is a form of cheating because we are not able to identify whose idea the information is. Unauthorised collaboration involves working with others with the intention of deceiving examiners about who actually completed the work. If there has been any collaboration in preparing individual assessment items, this must be disclosed (clearly stated that it is a joint effort). In the case of group project work, lecturers provide guidelines on what level of collaboration is appropriate and how the work of each participant in the project is to be presented. If you have any doubt about what constitutes authorised and unauthorised collaboration you should consult your tutor or lecturer.