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Ethical issues in business environment
Ethics and business performance
Business ethical issues in an organization
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Quality and product improvement: Companies are rapidly starting their operations in other parts of the world thus resulting to competition, further customer tastes and fashions are continuously and drastically changing thus creating the need for improvement in order to satisfy customers and maintain a considerable market share. Management concepts that have emerged to address the need for quality and product improvement are total quality management and reengineering. Total quality management is a ‘philosophy of management that is driven by constant attainment of customer satisfaction through continuous improvement of all organizational processes, Robbins (2010; p.34) Reengineering “reconsiders how work would be done and the organization structured …show more content…
Quality and product improvement also creates opportunities for managers as it leads to improved customer relations and focus, reduced cost of lost time, recalls and improves corporate brand reputation and recognition. Well managed quality and product improvement initiatives improves organizational profitability.
People Skill improvement: In the old era traditional approach to management, or scientific management made organizations operations effective as such managers with technical know-how were regarded as effective managers and could predict human behavior, however, with globalization, technological, and demographic changes has brought incredible alteration into human life and work as such, technical know-how of a manager alone is not enough to drive the organization, but a mix with manager-employee relationship or interpersonal relationships, ‘A greater manager-employee relationship can significantly influence members’ behaviors and increase the degree of their commitment to the leader and the organization Lussier ( 2005; p.231) as such this has challenged managers to acquire people or interpersonal skills so that they can
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Therefore, managers job is to ensure that profitability is achieved ethically, by putting in place guidelines and policies on ethics, however, ‘in recent years the line differentiating right from wrong has become even more blurred’ Robins ( 2010;p.40). Considering the hazy cloud that sounds the issue of ethics as to what is acceptable and what is not, manager’s personal judgement is key and are expected to lead by example and encourage whistle blowing with no reprisals. Business ethics causes dilemmas for employees and managers as what is regarded as business ethics to some extent reduces company 's freedom to maximize its profit. For example, a multinational company may move its manufacturing plant to a developing country to reduce costs, practices that can save company’s money such as child labor poor health and safety, low wages and coerced employment but, will not be tolerated as ethical. However, it could be argued that the restrictions on company freedom benefits wider society and further the company’s reputation is maintained, customers learn to trust ethical brands and remain loyal to
Business ethics are the moral principles that describe the way a business behaves. Because businesses are treated as “persons”, it can be said that the same principles that determine an individual’s actions can also apply to business. Making ethical choices involves distinguishing between right and wrong, and then making the right choice; and while it can be easy to identify unethical business practices, such as using child labor or not paying employees properly, good ethical practice can be harder to define simply because what is deemed right is not always universally accepted. In other words, everyone has a unique moral compass, and can see black and white as different shades of gray. In the face of this, every business holds corporate social responsibility to act fairly for their employees’, stakeholders’, and sometimes even the earth’s sake. However, whether or not the business adheres to this ethical paradigm varies.
The Goal is a book that has an immense support on improvement, which will undoubtedly encourage the Total Quality Management terminology when trying to built up and improve their productivity. However, the Theory of Constraints also plays a very important role in this book, because it guide us to not only focus on the improvements of the business as a whole, but also to focus intensively on the constrains, “ Herbies”, or bottlenecks.
Importance of ethics in the business world is superlative and global. New trends and issues arise on a daily basis which may create an important burden to organizations and end consumers. Nowadays, the need for proper ethical behavior within
Incorporating ethics into everyday decisions in the business world can greatly reduce the scandalous behavior that has as of late has run ramped. Obviously, we have seen the results and consequences of business conducted absent any moral or ethical boundaries. When decisions are made without the consultation of ethics there is no direction from the moral compass and surely consequences will follow. Choices contemplated by managers may often seem difficult, but assessing the options against ethics can assist the manager in making the best decision.
The concept of business ethics refers to a set of guiding principles that encourage individuals in an organization to make decisions based on the company’s stated beliefs and attitudes toward business practices within its industry (Lisa McQuerrey., 2016). Ethical and Unethical business decisions have long been a predicament encountered by organisations, these practices are concerned with how the companies interact with the global business world, and to their one-on-one dealings with individuals (Garry Crystal, 2016.) The concept of ethics and social responsibility emerged into the business world in the early 1970s after the end of World War I, saw these organisations become more profit driven resulting in negative impacts on society at large.
Business ethics simply can be defined as the application of business values in the business practice of a company (Seawell 2010, p. 2). For a multinational company, business ethics is one of the critical aspects need to be taken into account in business decision-making processes. Failure to give attention on ethics may bring consequences on company’s reputation (Meyer & Jebe 2010, p. 159). The company is expected not only to pursue its own profits but also contributing to the environmental and social welfare of the community where it operates (Svensson & Wood 2008, p. 308).
Throughout the course of day-to-day business life, the business professionals come in contact with quite a sum of ethical dilemmas. There are various ways to handle these ethical dilemmas, but failure to follow the appropriate manner could result in an unethical outcome. The ethical guides related to the book definitely help students develop an ethical character that is sure to stand out for highly ethical companies. In addition, there are companies that test how ethical applicants are before hiring them, this in turn makes getting the job more difficult and costly. However, despite the high cost and difficulty said companies stay firm to ethics, guaranteeing they get top-of-the-line employees who will act in an ethical manner. Ethics is defined
As a child, our parents try to instil morals and values into our beliefs that will guide us in the right direction to become individuals who portray the qualities of integrity, loyalty, and humanity. As we grow into adults, these qualities become even more prevalent in our careers. Ethics in the workplace can affect morale, productivity, relationships, and cohesiveness. This paper will discuss how managers with high ethical values have a positive impact the workplace environment and their employees, the importance of an ethical climate, biases that can impact moral decision making, and an ethical dilemma that occur within my organization, how it should have been handled and the ethical principles that should have been taking into consideration.
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.
Business ethics could be categorized as one of the least studied topics, although it has been widely acknowledged to be great significant (Bushe & Gilbertson, 2007). Being in the competitive market, most enterprises have either formal or informal ethical code to assist them in determining whether certain business activity is acceptable or not, especially when managers face dilemmas (Velasquez & Velazquez, 2002). This is because behaviors are justified by theories, orienting from the most basic question “what is the right thing to be done” (Grace, 1998; Takala, 2012). In order to address the mentioned question, it first needs to explore the definition of ethics and specifically, business ethics.
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.
Even though Total Quality Management (TQM) has been replaced by other quality methodologies in many cases, organizations that have taken the long arduous journey to properly implement TQM benefited from it immensely [1]. While TQM may be perceived by many employees as just another passing fad that will soon fall by the wayside, the environmental conditions that exist within the organization will determine if TQM can be successfully implemented and take root. What is Total Quality Management (TQM)? TQM is a system of continuous improvement of work processes to enhance the organization’s ability to deliver high-quality products or services in a cost-effective manner [2].
Business ethics courses, taught in higher institutions of learning such as colleges and universities have always been thought, in terms of making students more ethical. However, this is not what business staff considers as the most critical task during this 21st century. Instead, the most crucial task according to business staff is to ensure that students are able to comprehend complex ethical issues that the managers of this century must confront together with the most effectual ethical management, and sensible public policy in regards to the relationship of the business to the society. Despite the fact that ethical managers are faced with a myriad of ethical issues, the fact remains that those ethical issues differ from one business to the other. To coherently understand the complex ethical issues that managers must confront, this study will examine two specific ethical issues of this 21st century. In addition, the study will document the most appropriate ethical perspectives that can be used to solve the ethical issues and why they are suitable.
Quality is a very important thing in an organization; therefore it is not possible to improve the quality of a product or service substantially without major changes in all aspects of the organization. Because quality is so important if changes aren’t made throughout the organization the output of the product will no be very successful. Everyone in the organization plays a major role in the out come of its products.
Business ethics are a set of moral rules that govern how a business operates, how people should be treated within an organization, and how business decisions are made. They are a crucial part of employment and in managing a sustainable business, mainly because of the serious consequences that can result from decisions made with a lack of regard to ethics. Even if you don’t believe that good ethics don’t contribute to profit levels, you should realize those poor ethics have a negative effect on your bottom line in the long-run. Every business in every industry has certain guidelines to which its employees must stick to, and regularly outline such aspects in employee handbooks.