Final answer:
Identifying improper practices is essential for any organization to minimize risks and ensure ethical conduct. Embezzlement, insider trading, and fraudulent advertising are three common improper practices that can have significant risks for an organization and its stakeholders. Two business objectives for a retail organization could be increasing market share and improving customer satisfaction.
Step-by-step explanation:
Identifying improper practices is essential for any organization to minimize risks and ensure ethical conduct. Three common improper practices in organizations include:
- Embezzlement: The misappropriation of funds by an employee or organization member for personal gain.
- Insider trading: The illegal trading of stocks or securities based on non-public information.
- Fraudulent advertising: False or misleading claims made in advertising materials to deceive consumers.
These practices can have significant risks for the selected organization and its stakeholders. Embezzlement can lead to financial loss and damage the organization's reputation. Insider trading can undermine the integrity of the financial markets and result in legal consequences. Fraudulent advertising can harm consumers and lead to lawsuits and reputational damage.
As for the selected retail organization's business objectives, two examples could be:
- Increasing market share: This objective focuses on gaining a larger portion of the target market and competing effectively with other retailers.
- Improving customer satisfaction: This objective aims to enhance the overall customer experience, leading to higher retention rates and positive word-of-mouth.