Introduction
It has been discovered that a section head within Bolt has been using the resources of the organisation for his own personal gain. This misappropriation of company assets by the middle-manager, who is the son-in-law of the General Manager, has resulted in a decrease in productivity and has led to considerable trust issues within the business. The purpose of this report is to define the issue of managerial ethics and analyse the individual management functions that are associated with the problem as well as suggest recommendations to amend the problem. The management functions of control and leadership will be extensively discussed and their significance to the issue will be evaluated. Management theories closely related to the business structure of Bolt will be assessed in order to identify potential solutions to the problem. Moreover, relevant recommendations regarding actions the company can take to overcome the issue will be considered.
Definition of Issue
An ethical issue is present in a situation when the actions of a person or organisation may harm or benefit others. (Jones, 1991) The problem that Bolt faces is that a section head has breached managerial ethics by using company assets for his own personal gain. This breach has resulted in the formation of an ethical issue as it has caused the corporate social responsibility of the business to be in disrepute. Corporate social responsibility refers to ‘the obligation of organisation management to make decisions and take actions that will enhance the welfare and interests of society as well as the organisation.’ (Samson and Daft, 2012) There is potential for a culture of theft and fraud to be created as well as a breakdown in the ethical structure of the company ...
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Ethical decision-making is the responsibility of everyone, regardless of position or level within an organization. Interestingly, the importance of stressing employee awareness, improving decisions, and coming to an ethical resolution are the greatest benefits to most companies in today’s world (Weber, 2015).
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In a firm, management and leadership are important and needed. Leadership and management are similar. Actually, leadership and management are totally different. The leadership would influence the firm. The leader would have difference leadership styles to lead the subordinate.
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Sears Holdings is a company in transition. Now, faced with adversity and the threat of bankruptcy looming its leadership has come under scrutiny. “Great leaders not only have drive; they want to lead. Also important is a high need for power, a preference to be in leadership rather than follower positions. A high power need induces people to attempt to influence others, and sustains interest and satisfaction in the process of leadership. When the power need is exercised in moral and socially constructive ways, rather than to the detriment of others, leaders inspire more trust, respect, and commitment to their vision (Bateman, pp 399, 2007).”
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From reading this case, we realize the company did not apply the managing ethics competency in building its goals and structure. Managing ethics competency involves the o...
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There are many different avenues that one could take in the field of accounting. It is a lucrative career with many areas of interest to be followed. I have chosen Forensic Accounting to further review and research. This paper will define forensic accounting, describe what it takes to be a forensic accountant, give some statistics about forensic accounting, and give my feedback on this potential career path.
Ethical Dilemma In Business Ethical wrongdoing is a problem in the real world wherein the rules can be bent to manipulate financial standing. In some organizations such as Lehman Brothers, we will take a look at how they were able to alter real information that was damaging to the company in such a way to make it look more secure. Before these things can happen the upper management must discontinue listening to their employees and even punish the ones that speak up about issues in the workplace. Slowly an organization can slip into a level of deception and manipulation that can only be alleviated by the eventual bankruptcy of the organization. Mr. Lee's Concerns Ethical concerns of how business is performed can cause uncomfortable feelings
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