Moreover, while intending to enhance awareness, Public Relations follow some basic instructions such as being precise and using clear words to customers for being easily understandable. It includes using correct words and phrases on the billboards or in ads. Another aim of PR is to create trust for the company. Public trust has a considerable role in business. The organization with a lack of trust might lose out on business opportunities and even not be aware of its reason.
Top managers should recognize the importance of any contributions given, and should create an atmosphere that encourages and rewards corporation growth. The article states that if ethical behavior is consistent, it will limit the amount of problems that result from contractual errors. A second solution is giving ownership rights to stakeholders who provide highly crucial contributions to a company and letting them partake in governance decision-making. The benefit of this solution is allowing stakeholders to full decision rights, but at the cost of company’s risk potentially.
Unethical behavior verses doing the right thing will never equal success. Corrupt leadership created by senior management creates an immoral organizational culture and it promotes unethical behavior by the subordinates. These types of behaviors eventually lead to over 20,000 employees losing their jobs, health care and savings. Problem Statement Greed, arrogance, and accounting fraud were a matter of inadequate or misleading stockholder information by the organization prominent business e... ... middle of paper ... ...e Enron Corporation in December 2001 triggered two broad concerns: There may be more “Enron’s” out there, since many corporations share some of the characteristics that led to the Enron collapse. The unethical organizational culture at Enron has caused major burdens for the economy.
Ethical treatment of the competition will tie back into customer loyalty and an increase in brand recognition and quality. Interaction governed by ethical principles will result in fewer problems, leaving owners free to grow the business. Ethics for a solid foundation for a business to operate and grow. There will be problems, yet by following a strong ethical foundation, the company should admit to the mistake and take immediate action to rectify the situation. In doing so, the company has a strong chance to minimize negative press, and in most cases, emerge from the incident stronger, and in a better position for the future.
Being ethically sound is an important part of being an organization, through having policies in place on how things should be and the expectations of employee’s behavior benefits organizations. Suar, D., & Khuntia, R. (2010) expresses personal employee values and unethical practices at work behaviors all influence organizations. As a manager it is important to understand the influence that ethics has on the way on organization runs, and the problems an organization could face when dealing with unethical behavior. Having ethical concepts within the workplace will promote a strong public image for the organization itself. Having good ethical conduct will promote customer respect, which will in turn increase customer activity because customers
Good communication leads to transparency if an organization continuously communicates internally and externally to its stakeholders this will build trust in a company’s brand. When hard times come by transparent leaders will find it easy to explain the decisions made to its employees In this highly competitive world an organization will need to be innovative if it has to succeed, its competitors will come up with new products and it will need to counter this threat, it has to allow its staff to be creative and this can be done through good communication. Good communication will build as well as maintain relationships through positive encounters with others, without this skill it will be hard to construct a positive relationship. Businesses today exist because of relationships, not only is it important to have a relationship with a customer but maintaining that relationship is critical so as not to lose the customer to a
This is because any customer dissatisfaction may of consequences to the survival and prosperity of the company. As a result, all customer-related complaints should be dealt with swiftly and compassionately by taking into account all the key requirements that underpin the exercise lest any deviation cost the company dearly. On the same note, this service should be carried procedurally by taking into account all the recommended steps involved in order to ensure quality customer service delivery in the company.
The statement contributes to the work environment by outlining business values. Employees are to demonstrate honesty in all business transactions and personal dealings with others. They must consistently treat individuals with respect; demonstrate teamwork and the ability to work together. Employees must show innovative approaches to problem solving with a high priority to customer satisfaction. They must also seek continuous improvement in quality, fairness, and compliance to the ethical statement.
Both requires a positive public image. A company builds their image by acting in accordance with their values, and from demonstrating appropriate values. Documenting, implementing and publicizing the company's values and/or mission statement allows the public, clients, investors, and employees to understand what the company stands for, that it takes business ethics seriously. Companies with strong reputations are also companies that tend to attract more investments. Creating partnerships are of great importance to businesses.
Customer service is a key aspect of company-customer communication. This channel opens the door to feedback, as well as the ability to ensure all their customers are satisfied, in the end, with their product or service. If this channel were not available, perhaps the customer would resort to having to vent their frustration to other people, damaging the reputation of the company in turn. Communication in Corporate Social Responsibility Due to concerns of transparency and ethical behavior, building trust among stakeholders is a key management function of CSR efforts. This is achieved through effective and efficient communication strategies.