Being Good Is Good For Business Case Study

930 Words2 Pages
bulb-icon

Recommended: The importance of Business Ethics

“Being Good is good for Business.” – Anita Roddick states in a concise manner. A business decision is a settlement made concerning a business, which aims at providing benefits to its stakeholders. Morality can be defined as the principles governing the distinction between right and wrong, or good and bad behavior. Business decisions definitely have a lot to do with morality. Business ethics involves the creation and application of morals in a business environment. It is impossible to have someone make decisions solely for the organization’s betterment without analyzing how moral understandings of people are impacted. “Smart Business” mentions in an article that with an understanding of values, ethics and morals while using ethical principles, a business owner or leader can form a framework for effective decision-making with formalized strategies. Decision makers are bound to face a dilemma at some point or the other when they would have to choose between what abides by moral values and what doesn’t. This essay shall discuss how business decisions and morality are closely …show more content…

Values such as sensitivity to religion when dealing with multiple countries can lead to organizations performing extremely well in market competition. Corruption has been seen as being immoral and undermines market efficiency, which results in unhealthy competition, instability and inequality. Analyzing the case of Chang Guann Co. reveals that health of consumers is of utmost importance in any country. Businesses and its related agents such as owners and employees should have moral obligations. Businessmen should not take part in fraud and be honest in their work. “The Freeman” explains that the market rewards trustworthy, honest and cooperative businessmen. In conclusion, businesses and companies that adhere to morals perform better in the economy and enjoy greater

Show More
Related

  • Exploring the Moral Implications of Market Expansion

    758 Words  | 2 Pages

    With the expansion of these markets we get farther and farther from our morals. Market expansion grows greed causing us to be desensitized to the corruption going on around us. Sandel explains that money does not consider ethics but considers profit: “[t]hey don't ask whether some ways of valuing goods are higher, or worthier, than others. If someone is willing to pay for sex or kidney, and a consenting adult is willing to sell, the only question for the economist asks is “[h]ow much?” (Sandel 47).

    Read More

  • Dr. Sakiz Right Vs. Right

    1786 Words  | 4 Pages

    Ferrell, O.C. "Business Ethics." Ethical Decision Making and Cases. Michele Rhoades, Joanne Dauksewicz. Mason: South-Western Cengage Learning, 2011. Print.

    Read More

  • Corruption International Business Essay

    714 Words  | 2 Pages

    The development of a country depends generally on the work and values of its society. The image of a country can be severely damaged by certain actions and behavior of their citizens, like bribery. When a country is known as a corrupt nation, not only will the facade of the country be affected, but also the economy. Establishing measures to eradicate corruption are urgently necessary. Corruption has been around since the begging of time, but currently is more common in business, more specifically, international business. Although some organizations have been formed, and conventions have been signed in order to end it, corruption is still one of the mayor problems around the world. An ethical view might bring more insight to why bribery and corruption is not a moral act and why more severe measures should be taken into consideration.

    Read More

  • Achieving World Class Business Performance

    864 Words  | 2 Pages

    Achieving world class business performance is a major challenge in today’s society. Manufacturing companies continue to face increased competition and globalization from its competitors. (1, p. 148). The automotive industry is one of the most volatile manufacturing industries that we have, which was evident in the 2008 – 2010 automotive industry crisis. (2) This global financial downturn served notice to the American automotive manufactures to raise the bar, in order to achieve word class business performance. General Motors, one of the country’s largest automotive manufactures, had to receive a government bailout to survive. During this time many with the corporation asked themselves, if we were a world class business, would we be facing this pending crisis. The answer was a resounding “NO”. General Motors has come out of bankruptcy and is focused on being a world-class business organization.

    Read More

  • ethical leadership

    1562 Words  | 4 Pages

    Moral and ethical leaders are essential for any successful business because these leaders are the essential links between the organization’s objectives and its stakeholders. Leaders are the face of any organization, and their actions reflect the values and the ethics the organization they represent. Therefore, if a leader’s action and decision is ethical, the stakeholders and other organizations will respect the leader and the organization. Recent history has shown that ethical behaviors are important in sustaining businesses; large corporations such as Enron, Chevron, and Worldcom, destroyed people’s lives through unethical business behaviors (Josephson, M., 2013). If these corporations and its executives have operated morally and ethically, they would have been able to avoid bankruptcy and escaped going to prison (The Economist, 2002). Having ethical leadership in organizations will help to eliminate the negative impact executive’s gre...

    Read More

  • Lack of Ethical Behavior in the Cases of Bernie Madoff and Enron

    669 Words  | 2 Pages

    Ethical behavior is behavior that a person considers to be appropriate. A person’s moral principals are shaped from birth, and developed overtime throughout the person’s life. There are many factors that can influence what a person believes whats is right, or what is wrong. Some factors are a person’s family, religious beliefs, culture, and experiences. In business it is of great importance for an employee to understand how to act ethically to prevent a company from being sued, and receiving criticism from the public while bringing in profits for the company. (Mallor, Barnes, Bowers, & Langvardt, 2010) Business ethics is when ethical behavior is applied in an business environment, or by a business. There are many situations that can arise in which a person is experiencing an ethical dilemma. They have to choose between standing by their own personal ethical standards or to comply with their companies ethical standards. In some instances some have to choose whether to serve their own personal interests, or the interest of the company. In this essay I will be examining the financial events surrounding Bernie Madoff, and the events surrounding Enron.

    Read More

  • Organizational Ethics Issue Resolution Paper

    1738 Words  | 4 Pages

    For this paper Washington Mutual has been selected to show how the ethical decision making process can be achieve. When it comes to business ethics in the workplace Washington Mutual has designed what can be considered a well balanced workplace with behaviors that are aligned with their moral values and business ethics. Business ethics are sometimes depicted as resolving conflicts where one option can appear to be the correct choice. There are many different ethical dilemmas that are faced by managers and leaders everyday that are highly complex and have no clear choice or guidelines to assist in making the choices for resolution. There are times when an employee has to decide whether or not to cheat, lie, steal, or break their contract. These ethical decisions are real-life situations where they are forced to make on a daily basis. This is why it is ultimately important that all employee know the six steps to ethical decision making that the company uses.

    Read More

  • A Nice Manager Case Study

    1073 Words  | 3 Pages

    Implementation of organizational growth falls to the responsibility of upper management and they develop the strategic plan for the company to flourish in the projected economic market. Oversight of this senior team can hinder the organizational projected strategy into a viable organizational process that today’s global market places high demands that make it very difficult to attain these goals or plans and bring all effort to no avail of achieving projected growth and strategy of the organization. Essential that key employees do not lack the skill to delegate responsibility as well as expect results that promote organizational growth and adherence to the strategy set by senior

    Read More

  • Case Study Of A Nice Manager

    1356 Words  | 3 Pages

    Throughout this case study of a Nice Manager it discusses a company Called Chisum Industries that is looking to promote someone within the company. The company is widely spread throughout Texas. Right now the middle management within the company seems to be a great place to be. There are tons of opportunities to grow and become better leaders or managers for the company.

    Read More

  • Ethical Ethics Case Study

    1665 Words  | 4 Pages

    I discovered how sticking to one’s morals should be the topmost priority for everyone involved in business, whether personal or professional. Regardless of what the consequences may be, the intensity of the problem, and the complexities it may bring, sacrificing one’s integrity should never be an option, as integrity goes hand-in-hand with the morals of an individual (Duggan & Woodhouse, 2011). They further go on to say that having individuals take part in building a code of ethics that supports employee integrity, they will act ethically. Also, I believe that companies should place more emphasis on the moral behavior of their employees, and clear-cut policies should be set regarding such ethical situations. Furthermore, I realized how serving justice while making decisions really helps in the long run, and that opting to go for the ideal rather than they deserved is not always the best option, and could hurt a company in more than one

    Read More

  • Utilitarianism, Kant's Deontological Ethics, And Virtue Ethics

    1027 Words  | 3 Pages

    Ethics in business is a highly important concept, as it can affect a company’s profits, salaries paid to employees and CEOs, and public opinion, among many other aspects of a business. Ethics can be enforced by company policies and guidelines, set a precedent when a company is faced with an important decision, and are also evolving thanks to new technology and situations that arise due to technology usage. Businesses have a duty to maintain their ethical responsibilities and also to help their employees enforce these responsibilities in and out of the workplace. However, ethics and the foundation for them are not always black and white. There are many different ethical theories, however Utilitarianism, Kant’s Deontological ethics, and Virtue ethics are three of the most well known theories in existence. Each theory is distinct in that it has a different quality used to determine ethicality and allows for a person to choose which system of ethics works best with both the situation and his or her personal ethical preferences.

    Read More

  • Ethics In The Workplace

    1936 Words  | 4 Pages

    Ethics are the driving force behind good business. Every ethical choice made by a professional can and will have a much different outcome than any unethical choice. Bad ethics can ruin many aspects of a business and as (Gaye-Anderson, 2007) states how quite easily the lives and professional reputation of the employees can even be severally damaged (para. 3). Everything from morale to motivation can be severely affected by poor ethical choices. Customers will take their business elsewhere. Employees will abandon ship. Other, competing businesses reap the benefits of the bad moral choices. Ultimately, the entire business can be brought down by one poor ethical choice.

    Read More

  • The Characteristics Of Moral And Ethical Reasoning In Business Ethics

    1085 Words  | 3 Pages

    In the business world there are many fundamental aspects and situations that can lead to several issues. In order to find an optimal and professional solution, business decision makers need to apply moral and ethical standards. And it is at that moment in which business ethics perform its role. Business ethics, which is in charge of examine how companies and individuals should act in business situations, is very essential in order to reach a common agreement and to work within the laws of business and solve an arisen dilemma. Working of the hand of ethical business companies, employees, investors, directors, and even individual officers can be beneficiated and obtain most favorable outcomes.

    Read More

  • Google's Dilemma in China

    1222 Words  | 3 Pages

    In conclusion, companies that seek to integrate into global markets usually encounter several problems because of the effect of globalization on business practices. The challenges originating from such integration is attributed to the differences in cultures in various societies across the globe. As evident in Google’s dilemma in China, there is no single set of universal ethics that are applicable to all settings and societies across the globe. Companies such as Google need to develop varying ethical standards that are relevant and appropriate to various nations and cultures in the world. This would enable the companies that are integrating into global markets to avoid ethical issues while maintaining effective business practices.

    Read More

  • Challenges of Management in the 21st Century

    836 Words  | 2 Pages

    Business nowadays encounter with a lot of moral challenges in today’s global economy. Everyone is thriving to be more successful than their competitors, to make their next profits, to keep their job, to earn a big bonus, or to compete effectively. There exists temptation to bend lines, omit information, and do whatever it takes to get ahead of their competition. Many business employees and executives succumb. Sadly, the theme becomes...

    Read More

More about Being Good Is Good For Business Case Study

Open Document