Explain the importance of ethics and values in business sustainability
Ethics, values and sustainability are three very important aspects to consider in any business.
Ethics can be defined as moral principles of which a person behaves. These can therefore be categorised as individual ethics. Every individual has their own ethical beliefs. These ethics therefore influence ones feelings towards, for instance, a business. A person may choose to do business with an organisation based on many factors. If an organisation fails to appeal to a person, most likely due to business conducts being in contradiction with one’s ethical beliefs, that organisation has lost a customer. This then in turn results in the business being negatively affected due to it not being able to accommodate a vast array of individual ethics.
Furthermore, ethics can be categorised into business ethics. Business ethics can be defined as expressly or tacit codes of principles that govern decisions and actions done by the business. Every business, big and small, has their own codes of ethics which are there to be followed and implemented. Ethics in businesses are not always, although they are very vital. So a question may be raised, are business ethics, or individual customer ethics at that, of great importance?
To find this answer, a look at Nikes controversial “sweatshop” saga would be a good reference. Bob Herbert, a New York Times columnist criticized Nikes labour conditions by writing a bold article in 1996. Nikes production was done in low labour cost areas, this obviously minimising its expenses, and increasing profits. Bob Herbert called the factories in which Nike produced its footwear “sweatshops” and called the workers “slaves”.
This did not paint a pret...
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...d have to be shared on a broad scale. Each employee would want to have their say, this resulting in slow information transfer and a slow decision making procedure.
On the other hand, an organisation with a leader, will not suffer the misfortunes of a leaderless organisations. An organisation with a leader will be better structured and better equipped to take on many challenges posed to it, as compared to leaderless organisation. The role that leaders play in an organisation should never be be underestimated. A leader brings about harmony within an organisation. The leader, being neutral, will be able to monitor and control all the happenings within the organisation.
One can reach a conclusion and say that leadership is of great importance when it comes to the success of business organisations. Moving forward without guidance is just as bad as having a bad leader.
Ethics or rather morals entail mechanisms that defend, systematize as well as recommend conceptions of right or wrong. Many organizations develop ethical codes to ensure employees and employers understand the difference in doing good or bad. In that respect, ethics are an essential aspect of successfully running of any organization or government. Ethics ensure employee’s productivity levels are up to the required standards. It also assists them to know their rights and responsibilities. Additionally, employers, as well as any persons in management, are guided by them to ensure they provide transparent leadership. Ethics also defines how customers should be handled. Ethical codes govern the relationship between customers and an
Nike, as many other companies do, facilitates production in other countries to help grow sales in those particular regions. The main difference between Nike and some of the other companies is that other companies do not support the exploitation of labourers or human rights. Not to suggest that Nike promotes labour exploitation, but they are less strict about these rules than other companies in foreign markets. Impacts on health and safety are a major factor for employees in sweatshops. However, physical and sexual abuse is another serious concern of many of the sweatshop workers. Most of the sweatshops run by Nike contractors are factories located in relatively small spaces to save on real estate costs. They are often soiled with dirt and kept unheated to save on expenses. Broken glass and dangerous equipment is left on the floors causing potential dangers to any people scattered within the factory. Employees are subject to harassment and violent punishments if work is not being completed as thoroughly and efficiently as the contractors would like. Workers slave under unfavourable conditions for up to 14-hour days often with no breaks. These employees are paid less than $100 US and work on average over 250 hours per month. "Substandard wages keep factory workers in poverty and force them to work excessi...
(Mallor, Barnes, Bowers, & Langvardt, 2010) Business ethics is when ethical behavior is applied in a 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 complying with their companies ethical standards. In some instances, some have to choose whether to serve their own personal interests, or the interests of the company.
Do you agree with Schmeltekopf that business schools are not preparing students well for the for the ethical challenges they will face in the workplace? Why or why not?
The role of leadership can impact an organization performance in many ways. Excellent leadership can propel a company to the fortune five hundred list. For Example, Harpo Incorporated Oprah Winfrey’s company is a successful business that has made billions of dollars over the years. The business consists of several different entities such as the Oprah Show, Oprah Winfrey Network, and The Dr. Phil Show to name a few. This could not have been accomplished with a weak or uneducated leader. Many years ago I heard her give advice to the Williams Sisters. The a...
Explain the connection between the economic model of corporate social responsibility and “free market” or “neoclassical” economic theory.
“Without leaders, things drift along”. They go where they want to go, following the path of least resistance. A leader’s job is to overcome this resistance and make the things flow in a different direction.
By definition, ethics refers to "a set of principles of right conduct." It is also defined as "the rules or standards governing the conduct of a person or the members of a profession," (www.thefreedictionary.com) and in business may be considered the standards governing the conduct of people in the business environment. Business ethics is the behavior that a business adheres to in its daily dealings with the world. It relies on values as a way of guiding behaviour in business.
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.
Ethics is the application of one’s personal beliefs and the impact on how a person makes decisions regarding the relationships involving a company. The most common agents that involve a person’s decisions are owners, employees, customers, clients, suppliers and communities, according to Robert Audi (Audi, 2009). A person’s beliefs are often the determining factor in whether an action is considered right or wrong. Although ethics are often not explicitly displayed, a person with any sort of moral belief tends to have a grasp about what is considered ethically right or wrong. These obligations attempt to create a mirror image of how one would expect to be treated themselves. Audi states that there are ten moral obligations that serve as a model for how to assess ethical dilemmas. The following obligations are moral obligations that help to assess ethical dilemmas: justice, non-injury, fidelity, veracity, reparation, beneficence, self-improvement, gratitude, liberty, and respectfulness (Audi, 2009). Once these moral obligations are engraved into someone’s mind, it is much easier for a person to make a decision based on ethical grounds.
...al nature of a business but so will customers. A high level of ethics in business should always be in place for customers. The customer should be considered a top priority when it comes to ethical business practices. In the long run, a company will reap great profits from a customer base that feels it is being treated fairly and truthfully. (Ethics in the Workplace, 2006)
Leadership, without doubt, is a significantly important function of management. It helps to aggrandize efficiency and to fulfil an organization’s goals. Leadership is the ability of a manager to induce the subordinates to work with confidence, determination, courage and zeal. It is also defined as ability to influence a group towards the realization of a goal. Leaders should have the capability of developing future visions, and to drive the organizational members to want to attain the visions. This paper states my points in which I duly believe, justifies the importance of an outstanding leader in any organization.
Ethics are moral principles or values that govern the conduct of an individual or a group.It is not a burden to bear, but a prudent and effective guide which furthers life and success. Ethics are important not only in business but in academics and society as well because it is an essential part of the foundation on which a civilized society is built.
Leaders are everywhere in everyday life, in our homes, places of work, in our schools and in our communities. Leaders are likely anywhere that influence and direction are essential and it is obvious when a beneficial leader is not present. Imagine if businesses were ran without managers or supervisors, would the business likely fail because there is not a person directing and assisting with goals of the business. Better yet, think of a country without any governing laws or leadership, there would be chaos. Not having a successful leader is almost as damaging as not having any leader at all. Leadership skills are beneficial in all areas of life, when utilizing these skills in a positive manner success is probable.
The Facts: Kermit Vandivier works for B.F. Goodrich. His job assignment was to write the qualifying report on the four disk brakes for LTV Aerospace Corporation. LTV purchased aircraft brakes from B.F. Goodrich for the Air Force. Goodrich desperately wanted the contract because it guaranteed a commitment from the Air Force on future brake purchases for the A7D from them, even if they lost money on the initial contract.