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Ethical issues in business environment
Ethical issues and problems in business
Ethical practices in business
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The first important idea come to the question: why management and company are less and less Ethics? Effectively, nowadays we are in a capitalism economic system that is synonym of continual search of profit and her maximization. In addition, this concept allow to introduce the one of competition and mass production. Competition and mass production are primordial because they can explain the pressure of the market. Indeed, food processing industry, in response to the demographic and needs growth, have to produce always more and faster. Thus, companies in this sector are submitted at the big pressure of the management which want maximize the profit but also the pressure of the market.
In addition, Food processing industry is one of the big industry
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Many multinational companies abuse of corporate power in food processing industry. Nestle for example, was criticized for the manner in which baby formula has been marketed in developing countries. The American Smithfield food, largest poultry processor in the world. (Unionization abuse in North Carolina). Mac Donald’s; the largest fast-food company was accused of making fatty food so abundant and appealing that the entire society is becoming more obese and unhealthy. Its advertisements and promotions are particularly attractive to children.
We can observe the difficulties and the complexity to organize and have an “International Ethics and Law”. Indeed, If we emphasis on the creation of TTIP we seeing that firstly the negotiations began in July 2013 and disputes still go on. It’s the proof that common rule for an agreement is hard to set up and in this case even more because he affects more than simple trade
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Indeed, Internet allows free interchange around the world. Therein, he can be seen such as a catalyst for Globalization. The question that we have to ask us is how countries can apply law and sanctions in this system because he is International but additionally virtual that increase the difficulty of control. The main thing is the regulation, because it’s the only one way to oversee little the Internet system.
Otherwise Internet can be perceived like a tool of information. Indeed, thanks to this system, everybody can see and share information instantaneously. That can force company to have more transparence because nowadays all information that want hide can be reveal, share whole over the world and jeopardize their reputation. Today, company know that Internet can destroy a company if a scandal or something they want hide is reveal.
However, an industry like food processing can use Internet for orientate the customer and appear irreproachable. Indeed, it’s a kind of industry which have the power to influence and orientate media and
Food security is the availability, access, stability and utilisation of food for all people. (Beddington et al., 2012) The world’s population is expected to reach nine million by 2050. The main limitations stopping the world from achieving food security is food wastage, inadequate production and economic barriers. Overcoming these barriers is essential to being able to feed an increased population however it must be done in a way that will not exploit our natural resources or environment so that future generations can also to produce enough food.
The internet designed for the purpose of sharing information. Never before in history has it been so simple to send information from one place to another. While it was originally designed for storing information within large corporations, the internet today is used as an information highway. Due to this, things like music and movies can be shared very quickly via the internet. Property of one person can be shared quickly and efficiently. While there are many things to be gained from this, unfortunately it puts the manufacturers of this digital information at a disadvantage.
General Foods (GF) is in the process of evaluating Super as a new profit-increasing project for its business. Payback and Return on Funds Employed (ROFE) are the decision rules used currently by GF for project decisions. While these rules are helpful, they are flawed and do not take into account the time value of money when evaluating cash flows. Net present value is a more suited tool to evaluate projects because it takes into account discounting of future cash flows, evaluates liquidity through discount, selects the scenario that maximizes shareholder wealth, and considers all relevant incremental cash flows. Certain cash flows and costs for Super were either included or not in the financial worksheets presented to management. Flaws
Ethics is all about making the right decisions. Management is concerned with how decisions affect the company, while ethics is concerned about how decisions affect everything. Management operates in the specialized context of the firm, while ethics operates in the general context of the world. Management is therefore part of ethics. A business manager cannot make the right decisions without understanding management in particular as well as ethics in general. Business ethics is management carried out in the real world.”
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
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.
was the sheer power that big companies possess the food industry. The top 4 meat packing companies which are Tyson Foods, JBS USA, Cargill Meat solutions, and Smithfield Foods; control 90% of the meatpacking in the United States (Kenner). In addition to that, there were more than 1,000 slaughterhouses in the U.S in 1990, but in 2007 there was only 13 (Kenner). In the film Food Inc. a union organizer explained how Smithfield was taking advantage of low income workers, especially undocumented immigrants. Smithfield chooses low income, rural settings for its giant slaughterhouses, such as the hog slaughterhouse in Tar Heel, NC which is the world's largest slaughterhouse (Kenner). This way Smithfield can manipulate workers into doing about anything with the threat of losing their jobs, most often to keep quiet about what happens inside the slaughterhouse
The food industry wants people to think that their advertising of products is good for you, but in reality they are not. Most of us don’t even know what we are consuming from eating their food. If people knew what was in their food that the food industries are promoting/advertising, they wouldn’t want to eat it. There can be given facts on this and maybe even some proof as to what you don’t know about the food industry, but also what you are consuming in your body at the same time. Some of the products that they advertise on TV, Billboards, and etcetera, you actually start to believe that they are good products until you start to do your research
Ethical issues in business arise because of conflicts between an individuals personal moral philosophies and values and values or attitudes of organization in which a person works and a society in which one lives. Ethical issues can be identified in terms of the major participants and functions of business. Ethical issues related to ownership include conflicts between manager’s duties to the owners and their own interests, also separation of ownership and control of business. Financial issue includes, for example, the accuracy of reported financial documents. Ethical issues can acquire between manages and employees, then employees are asked to carry out assignments they consider unethical. Consumers and marketing issues are related to providing safe desired products for a fear price and not harming people and an environment. Accountants also face ethical dilemma, they have to deal with competition advertising commission. All of this places the accounting profession in situation of ethical risk.
Overall, Whole Foods Market is financially strong even though gross margins may fall in the future. According to Bradley Seth McNew, Whole Foods Market is in the best cash position of any of its competitors. With almost zero debt, Whole Foods' operating cash flow could cover its long-term debt more than 246 times. Compare that to just 0.62 times for Sprouts Farmers Market, which has over $400 million in debt with only $180 million in operating cash flow (McNew, 2015).
Nowadays, society is governed by the implications of rules and legal restrictions. All of these rules were created to uphold and maintain the idea of ethical and moral values. Even children growing up were taught by some very important codes of ethics at school. These lessons learned as a youth growing up carry over into adulthood, as an employee or manager. Managers and workers both follow a similar code of ethics within the work place. Today, as a management consultant, I am going to prepare a code of ethics for my clients as they have recently started a restaurant called Knox, it is important to have a code of ethics in every company for their employees and also a circular by explaining the purpose and benefits of a good ethics. And finally, a brief report on the steps of strategic formulation and implementation.
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.
The Internet is, “a vast computer network linking smaller computer networks throughout the world.” (dictionary.com) Everyday millions of people use the Internet in order to communicate, to work, to research information, and educate themselves. (internetworldstats.com) The popularity of the Internet has caused the world to become more dependent on the information that is searched. Some countries’ governments believe that although the Internet is one of the top worldwide researching databases, its lacking in privacy has created unnecessarily high security risks and has had a negative if not harmful affect on their society. (techcrunch.com) One example of this lack of privacy would be that research found on the Internet can be accessed from any country in the world. Many countries view being able to access information from an...
Also Internet helps companies advertise their work throughout social media to promote their products. “Innovations in technology have improved operations at companies of all sizes and helped turn small local businesses into global businesses.” (Kooser n.pag.). Yes, however workers are depending more on technology to do their job instead of doing their own work, this can cause workers to be lazy and instead of doing work they will just use technology to do everything for them. Which result in lack of knowledge and less experience in work
Internet as part of the history is the most important invention around the world which connects people thru phones, satellites and cables. People all over the world have access to it as it is everyday usage, and internet becomes globally real and in demand. To mention here, the usage for permits technically for travelling or getting tickets are electronically through internet, paying bills, shopping thru nets without going out (just browsing), playing games, and mostly the merit of possibly downloading music and movies in no time (just a click).