The stronger the market pressure for profit, the greater the pressure applied on their profit and care conscience decision. In their strongly competitive share market environment, survival depends or means the generation of larger profits in order to grow and resist takeovers. Those who can afford or choose to ignore their conscience succeed only at the expense of those who cannot or do not. There is no other way to look at the situation. Society views health care providers as those who can be trusted in a socially responsible way even under pressure and to place patient care ahead and above personal considerations and convenience. Recent and continuing events in the health care marketplace in the U.S.A. strongly indicate the response of the market to adverse economic factors and the instability that response creates in the patients and their care. Market demands for large profits have caused companies to behave…… [Read More]
Business Ethics Focus on Merrill Lynch
According to Laura Hartman and her co-writer, Joe Desjardins in the work entitled "Business Ethics: Decision Making for Personal Integrity & Social esponsibility" philosophical ethics may be clearly differentiated from theological ethics because theological ethics attempted to disseminate the well-being of an individual on a religious basis while the ethics of an individual's philosophy is such that provisions of justifications that can be applied to all people regardless of their religious starting points. (paraphrased) In other words, there is always a reason for doing the ethical thing in business from a philosophical view without religion even having to enter into the discussion because ethics in business are rational, honest and in the end more profitable to all stakeholders in terms of the OI or return on investment.
It is certain that individuals such as Bernie Madoff and those at the helm of companies such…… [Read More]
When a company deals with its purchasing in unethical ways, it cannot suppose its suppliers to be trustable associates and guarantee business continuity. If one doesn't align with something, they shouldn't expect others to do it either. This weakens the entire value chain making it less aggressive in the market. Hence it is important for both buyer and supplier to connect in ethical dealings in their transactions (Ethical Buying or Ethics in Purchasing, 2011).
Ethical issues arise largely in three areas of procurement practice and all three should be considered when doing business:
Procurement conduct: this refers to the way that staff does business. The way that procurement is carried out.
Selection of Suppliers: does ones institution seek to promote its corporate responsibility objectives through its purchasing activity and supplier relationships? Will ethical criteria be used to exclude or positively discriminate in favor of certain suppliers?
Supplier's practice: is…… [Read More]
2). These are important issues because fire chiefs are routinely confronted with actual ethical dilemmas that involve conflicting or competing public and private values as well as corresponding conflicting professional responsibilities (Haraway & Kunselman, 2009). This point is also made by Pammer and Killian (2003) who cite the expanded responsibilities of both fire chiefs and line personnel in recent years. According to these authorities, "A successful fire chief today is assessed according to his or her administrative capabilities, educational level, and experience at managing programs. Premiums are placed on personal commitments to customer service, managing diversity, and notions of economy and efficiency" (Pammer & Killian, 2003, p. 132).
"Line personnel have found themselves inundated with change: new initiatives, programs, and philosophies (i.e., Total Quality Management, Data-Driven Decision Making, Benchmarking and Value-Added Service Delivery) that are both confusing and seemingly unrelated to emergency mitigation."
"esistance and frustration are common.…… [Read More]
Ethics and Code of Conduct
Our Core Values that shape us;
As a part of my Business Ethics lesson I have a task to criticize and improve my company's code of ethics, before doing that I want to briefly explain about my company; MLS Holding and what we do? The most effective statements in regard to business ethics are rooted in the strategic vision of an organization and the business philosophy and its stakeholders (Kinni, 2013). The moral value of authentic ethical leadership is clear and has many business benefits (Dobelli, 2013). This report will outline the business ethical position of MLS Holdings and offer improvements that could be used to strengthened the company's code of conduct in the future.
MLS Holding is a Family Holding company established in 1992 and the Company is currently working out of…… [Read More]
"the High Cost of High-Tech Foods case"
The cost of high-tech food continues to arouse debates over the ethical, moral, and practical impacts the foods have on the people, market, and economy. However, it is evident that the proponents and opponents of the motion do not seem to come to agreement as each holds their view right. The situation worsens due to the application of emotions in addressing the matter at hand. Evaluating the case in "The High Cost of High-Tech Foods" presents various ethical aspects arising about the subject of genetically modified food.
The opponents to the GMO present the case that the proponents are not honest in telling people the truth over the effects of the GMO. Thus, the first issue is honesty. Secondly, there is the legal issue of ethics arising in the concept. The legal issue claims that the proponents of the high tech…… [Read More]
Ethical Egoist- Egoism can be either descriptive or normative. Descriptive egoism holds that for each individual, there is only one ultimate aim -- survival and the betterment of the sole individual based on their own hierarchical principles. Normative egoism has the individual making claims about what should be done to do the "right" thing, rather than what one does. As well, ethical egoism insists that for an action to be morally right that it must maximize one's own self-interest; rational egoism says that the action is rational if it does the same. This is in contrast to altruism, which says morally we have the obligation to help and serve others; egoism elevates the self (the individual) above others in finding morality (Singer, 1990).
Essentially, the argument follows that each of us is most familiar with our own wants and needs. We do not know the wants and needs…… [Read More]
The less direct the impact, the more likely the stakeholder is to use consequentialist considerations to just the actions of managers. For example, government did not react to the need for improved governance and pass Sarbanes-Oxley until after multiple scandals had occurred. Millions of Americans lost money and faith in the financial system was eroded, threatening further harm. If the scandals had not resulted in outcomes so severe, it is unlikely that SOX would ever have been dreamed up.
Given the emphasis on consequentialist assessment, the onus on managers is therefore to fully assess society's reaction to the expected outcomes of their actions. This works mainly when managers properly assess the expected outcomes -- something the likes of Kenneth Lay and Bernard Ebbers did not do. These outcomes must consider the impacts on the gamut of stakeholders. Ethical problems occur when there is goal conflict between the stakeholder groups (Heath,…… [Read More]
Thus high relativistic individuals and low idealistic individuals were likely to view slavery as a necessary evil to accomplish the goals set by society, while high idealistic individuals were perturbed by the harm that slavery caused to the slaves.
The concepts of relativism and idealism apply in business setting as well. Business ethics can be defined as written and unwritten codes of principles and values that govern decisions and actions within a company. In the business world, the organization's culture sets standards for determining good and bad behavior.
Ethical dilemmas arise when an employee's personal ethics, his morals, conflict with the business ethics set by an organization. For example situations have developed where doctors refuse to give abortions because it conflicts with their personal beliefs about terminating a human life. Alternatively, a judge may follow the law and impose the death penalty even though he or she may be personally…… [Read More]
Ethics is a very significant issue in all businesses because it illustrates the moral values of any given business, according to an article in the peer-reviewed International Journal of Business Administration. This paper reviews and critiques the article. Authors Aytac Gokmen and A. Turan Ozturk present a study of business ethics issues in both domestic and international businesses.
Review / Critique of Article
The authors posit that ethical behaviors in an organizational setting "motivate employees" and "satisfies their necessities" (Gokmen, et al., 2012, p. 82). The authors contend that when employees are working in a fair, ethical environment their performance is enhanced. The issue of ethics goes beyond moral principles and fairness, according to this article. There are fundamental approaches to ethics that also enhance the quality of employees' performance: a) justice (means being treated impartially in an organization); b) a human rights aspect is important as well…… [Read More]
Without this duty to take car of one another, government and society would have no reason to exist. Because man is a social creature, it seems reasonable that society is meant to exist, but that society will only be stable as long as everyone in it is treated fairly -- that is, ethically. Therefore, business ethics are not only important for the longevity and profitability of a specific individual business entity, but also for the advancement and stability of society as a whole.
One common business problem is reporting a loss to investors. The Enron scandal involved "creative accounting" to hide losses and so continue outside investment. Had the people at Enron behaved ethically and explained the situation honestly, they almost certainly would have suffered a loss, but the company might have survived. Accounts should always be presented honestly for this reason.
The mortgage issue is somewhat similar to the…… [Read More]
3). In addition, the Company strongly believes in fair dealing and has it made a central part in the Code. Each employee, officer and director should endeavor to deal fairly with the Company's customers, suppliers, competitors, officers and employees. None should take unfair advantage of anyone through manipulation, concealment, abuse of privileged information, misrepresentation of material facts or any other unfair dealing practice. Stealing proprietary information, misusing trade secret information that was obtained without the owner's consent, or inducing such disclosures by past or present employees of other companies is prohibited (see Durect, 2012, p. 2). Training and Education: The Company has designated Mr. XYZ as Chief Compliance Officer to administer this Code. In addition, the company conducts three mandatory and educational activities annually as reminders about our commitment to ethics and business conduct standards at the Company. Annual activities include ecommitment to Ethics, Code of Conduct and the Ethics…… [Read More]
Palmeri, C&Rupp, L 2013, May 3, Disney angladesh Exit Pressure on Clothes makers Who Stay, Retrieved from http://www.bloomberg.com/news/2013-05-03/disney-bangladesh-exit-puts-pressure-on-those-who-may-stay-1-.html
The work of Palmeri and Rupp (2013) is focused on highlighting the issues faced by the multinational organizations while operating in developing markets. It is highly likely for large organizations to develop their overseas presence. However the economically developing markets a number of issues including environmental, infrastructural, and compliance with health and safety standards according to internationally acceptable norms. The research is about the decisions of multinational corporations including Disney, Wal-Mart, and J.C. Penney initiating a closure of their manufacturing sub-contracts with multiple suppliers present in angladesh. However Gap and Children's Place Retail Stores Inc. (PLCE) are reported as continuing their operations in the country and providing assistance to improve working conditions.
The incidents of carrying risks for health and safety regarding workers in the angladesh market have instigated the…… [Read More]
Business Ethics -- obert Nardelli
Business Ethics: obert Nardelli and Home Depot
obert Nardelli became CEO of The Home Depot in 2000, despite the fact that he had no retail experience (Grow, 2008). He had previously been in management at General Electric, and he brought the Six Sigma style he had used there over to the home improvement retailer with plans to overhaul the company and completely change the culture of it (Terhune, 2007). He was successful in doing so. During his time as CEO of The Home Depot, he overhauled the entire company and greatly changed the entrepreneurial culture on which it had been built (Grow, 2008). At the time he took over, management was decentralized -- and he changed that by consolidating division executives and eliminating many of them (Weber, 2007). His leadership theory and style were clearly very different from what The Home Depot had when he…… [Read More]
Business Ethics and Its Importance
How is the notion of business ethics important for management, work and organisations?
Business ethics is a form of professional ethics guiding the moral conducts of business organizations. Business ethics applies to all aspects of business process relevant to the conducts of employee and the entire organization. In a contemporary business environment, a corporate organization is being viewed as a responsible corporate citizen. Building a strong ethical culture is an integral part of strong business reputation and creating an environment of trusts among the stakeholders. (Khatri & Shrama, 2011).
The objective of this essay is to examine how the notion of business ethics is important for management, work and organisations.
Business Ethics and its important to management, and work organisations
In a contemporary business environment, business ethics is a powerful tool for branding and attaining competitive advantages. (Azmi, 2006).
"Corporate ethics programs have the potential…… [Read More]
Kent's options are to go ahead with the original plans, to modify the game or to take the game to other markets where marketing it would not be considered a violation of the company's social responsibility.
Sex, violence and gambling are all controversial subjects in the United States, but all have significant commercial value. Some groups feel that these are negative attributes and should not be commercialized, while others view them as acceptable within certain contexts. Controversy typically emerges when the use of sex, violence or gambling is done out of what most of society would consider an acceptable context. In other countries, however, cultural norms are different. It is perfectly acceptable to market sex, violence or gambling to other countries if those elements are within the cultural norms of those societies. Cultural norms differ, and it is poor management to view the norms of other cultures through the lenses…… [Read More]
The law standardized internal control and auditing procedures. It mandated auditing committees use stricter standards when vetting accounting firms and raised standards for corporate responsibility for fraudulent accounting. It provided more stringent conflict-of-interest guidelines for accounting firms. It was passed by the U.S. Congress to protect ordinary investors from losing their money due to fraudulent accounting practices which ordinary investors could not monitor, through public documents. It also established an oversight board for public companies and mandated "stricter disclosure within company financial statements and ethical guidelines to which senior financial officers must adhere" (Sarbanes-Oxley Act of 2002 -- SOX, 2009, Investopedia). It created "authorities available to the Commission and the Federal Court, as well as required broker and dealer qualifications enforcement methods available for punishment of activities deemed criminal by the Act" (Sarbanes-Oxley Act of 2002 -- SOX, 2009, Investopedia).
ithin the act, the laws demanding stricter disclosure and monitoring…… [Read More]
Introduction (Summarize the overall viewpoint of the author, and discuss the major issues presented in the case.)
In the case, the author is showing how Dennis Kozlowski and Mark Schwartz were at the top of an elaborate scheme to defraud Tyco. This was accomplished by talking about how their troubles began based upon Kozlowski's desire to avoid paying taxes on artwork in New York State. As the investigation expanded, the overall scope of the fraud became much larger. ("Tyco I'm Sure that's a really Nice Shower Curtain," n.d.)
This is when the different programs were discovered that allowed for rampant abuses to occur. Most notably: the payment of employee expenses, the key employee loan, relocation and bonus programs. The combination of these factors allowed for Tyco executives to take large payouts from anyone of these initiatives and hide it from investors. This is how both men were able…… [Read More]
One of the criticisms of Broadway is that tickets are too expensive, but to encourage a new generation to enjoy Broadway, many theaters offer scaled prices, including discounts for students.
Regarding the sale of 50 tickets for $300 each -- this would depend upon the size of the venue. Some limited exchanges like this could fund more, less well-known groups to come to campus under the umbrella of the activities committee, but this practice should not dominate the business model of a university setting. Even in private, strictly for-profit enterprises, gouging is a serious issue of concern. Gas stations and companies that raise the price of gas prohibitively high because they 'can' or convenience stores in a city that raise the price of milk past a certain point in New York City are fined, because of the vital necessity of these products and the tendency for the product to be…… [Read More]
Mattel: Five lessons learned from its ethical lapse
In the 21st century globalized economy, it is not uncommon for companies to use outsourcing to keep costs under control. This is particularly true regarding relatively inexpensive products like children's toys. The Mattel Company, the maker of iconic childhood toys like Barbie and Hot Wheels, has outsourced major aspects of its operations to China as a cost-cutting effort. Mattel sells relatively low-priced toys that are accessible to a wide demographic of U.S. consumers, hence the need to keep prices within the budget of most families.
Mattel's problems began when Early Light Industrial Co., "a subcontractor for Mattel owned by Hong Kong toy tycoon Choi Chee Ming, subcontracted the painting of parts" of the Mattel CAS toys to yet another China-based vendor named Hong Li Da (Mattel responds to ethical challenges, n.d, Daniels Funds Ethics Initiative: 6). In other…… [Read More]
Business Ethics and Positive Social Change: The Ford Pinto Fiasco
How much is a human life worth? Most people would likely agree that human lives are priceless, but the executives at Ford Motor Company made this type of grisly calculation when they were confronted with the alarming facts about the dangers posed by flaws in the gas tanks of their Pinto automobiles in 1970. Although Ford Motor Company would ultimately recall 1.5 million Pintos to repair the gas tank flaw in 1978, the decision to continue production of this car represented one of the most high-profile examples of how unethical business decisions can have a profoundly adverse effect on society. The purpose of this paper is to provide a review of the relevant literature concerning this business ethics crisis and the scandal that ensued within the context of positive social change.
1) What are the essential details of the event,…… [Read More]
The concept of business ethics arises from the tensions that exist between the different stakeholders of business. One of the central ethical questions of business is "In whose interests should firms be managed?" (Moriarty, 2016). There are different perspectives to this issue, usually perspectives of different stakeholders. For example, Milton Friedman's famous view that business exists to increase its profits is, more or less, adopting a view that only shareholders matter as stakeholders, and that managers have a sole responsibility to the interests of the shareholders, and further that the interests of shareholders are narrowly defined as increasing wealth. But there are other perspectives as well, and the stakeholder approach reasonably looks at these other interests – of employees, of customers, of communities and of the environment. Where these interests are unaligned, there is often tension and from this tension arises ethical dilemma.
Thus, many businesses create guidelines for ethical…… [Read More]
Ability to Spot Conflicts
The modern society is characterized by numerous issues on ethics, especially in the increasingly competitive business environment. Corporate scandals have become common in both the for-profit and non-profit sectors, which raises concerns regarding ethics. The increase in corporate scandals in these sectors is partly attributable to the relatively deteriorating ethical standards in the society. While nonprofits are generally considered to be uncorrupted by the desire for profit, recent events have demonstrated that they are vulnerable to ethical lapses that undermine the public’s trust in the entire sector. A critical aspect of these corporate scandals in the non-profit sector is conflict of interest. There seems to be a conflict of interest in the operations of nonprofits and involvement of some of their stakeholders in corporate scandals.
Conflict of interest is a major issue in the modern business environment given its strong link to corporate scandals and ethical…… [Read More]
How Philosophy Influences Society: Starbucks and the Restroom Controversy
When two African-American men were arrested for loitering outside a Starbucks after being refused permission to use the restroom as they were not purchasing customers, Starbucks’ CEO Kevin Johnson made the decision to open all Starbucks’ bathrooms to the public regardless of whether the person was a paying customer or not. This was Starbucks’ attempt to address a problem directly. This essay will examine the decision of Johnson as a deontologist, a virtue ethicist, and as a utilitarian and show what each would view as the right thing to do in this case.
On April 12, 2018, two African-American men were waiting their friends without making any purchase at Starbucks in Philadelphia. The store manager asked them to leave, but they refused, explained that they were waiting for their partners. After that, the manager called police, and said…… [Read More]
Ethical issues and dilemmas have always been hitting the operational performance and sustainability of business organizations. They directly affect the way an organization formulates and implements its policies, operates as an active participant in the industry, and competes with other organizations for the sake of accomplishing its strategic objectives. Ethical issues may relate to the organization's social responsibility or corporate responsibility; both are vital for the organization to ensure a sustainable future in its industry. This paper discusses an ethical issue which was faced by one of the world's most admired organizations -- Apple Inc. The main purpose of the paper is to highlight the ethical issue in which Apple was involved; the consequences of the ethical issue and the individuals involved in the process. The paper starts with a brief introduction to Apple; its main product offerings, industry, scale of operations, and major strategic decisions which it…… [Read More]
Reflection Prompt #1
Summarize three of the ethical theories that are explained in Chapter 1 of Introduction to Business Ethics. Explain how people running businesses would construct their companies if they utilized these ethical theories. For example, you might personally think that people should act to increase the overall happiness for the greatest number of people (utilitarianism). You would explain utilitarianism and then explain how a company based in utilitarian ethics would function. In other words:
What products would they make?
How would they treat their employees? How would they treat their customers?
How would they manufacture their products?
How would they utilize their resources and profits were they to become successful?
At the basis of the ethical considerations rests the question of whether or not ethics are static or they are relative. The example is give of Lockheed Martin who was caught offering a quarter of a…… [Read More]
However, she will either not feel comfortable in the culture and leave or, she will at least give thought to her actions at work and behave ethically so she is not fired.
Thesis statement: How a person acts in their personal life is indicative of how he/she will act in business.
Need more involvement from secondary schools and companies as role models.
Personal situation at work with unethical employee.
A. Anomie outside of work will remain or get worse in work situations.
Personal situation at work with ethical employee
Like first supervisor, his work ethics the same as personal ethics.
My personal values. Do not always meet expectations for myself or others.
What can be done?
A. Companies and universities have to work together to instill ethical values in employees.
Frederick, William C Corporation, be good!: the story of corporate social responsibility. Minneapolis: Dog Ear, 2006.
Andrews,…… [Read More]
Business Ethics magazine recently awarded the Chroma Technology Corporation, a Vermont-based manufacturer of high-tech optical lens products, the "Living Economy Award" as part of the 16th Annual Business Ethics Awards. The Living Economy Award is offered to the company that best exemplifies "the living economy with practices of employee ownership, fair wages, and environmental stewardship," (Business Ethics). One of the key reasons why Chroma earned the accolade was due to its unique official salary structure: no employee earns less than $37,500 and none more than $75,000; therefore, no upper-level management official makes more than twice as much as anyone on the shop floor. Chroma's unique salary structure in part reflects my vision of corporate business ethics and the values I would like to embody as a professional. There are other reasons why I admire Chroma's policies. They employ an egalitarian meeting format modeled after the Quakers; they ensure environmental sustainability…… [Read More]
Pharmaceutical drugs are among the most expensive products to produce globally and as a result have a major impact on the profitability of these firms. Without accurate financial reporting of these costs many investors have no idea of whether the companies are doing as well as they report they are.
The second most troubling issue that is impacting the community and the pharmaceutical industry is the lack of credibility of scientific research and its implications on the new drug development and marketing strategies of pharmaceutical firms (Verschoor, 2006). This continues to be a major concern specifically for government regulators who have seen pharmaceutical industry spend up to $5.5B a year to promote drugs to physicians, often citing inaccurate or falsified research (Verschoor, 2006). Not only does this impact the physician's credibility if the drugs do not perform, it also harms the patient.
The third major issue is the lack of…… [Read More]
It is critical for people to have a voice in what's required of them if they are going to change their behavior and take responsibility for their jobs. Second, employees need to be recognized as the authorities in their jobs, no matter how trivial to complex, a job must be a source of respect in any organization if the employee is going to actively take responsibility for accomplishing its goals and objectives.
There also needs to be freedom for defining how a job gets done. To reduce a job to mere procedures is to take the responsibility away from it. Conversely, to give employees freedom in how they complete tasks is to create an environment of creativity.
Ultimately employees the most accountable and responsible when they have the opportunity to define what their goals, objectives and approach to completing their jobs are. Second, there needs to be an opportunity for…… [Read More]
Business Ethics and Morality
Many in the business and sociology fields have attempted to separate the ideas of ethics and morality from religious beliefs. Researchers have worked hard at identifying the principles which hold our societies together from the viewpoint which identifies the common good, or the well-being of the individual or organization as the foundation of moral or ethical behavior. However, this humanistic approach to morality voids the central thesis of what makes moral decisions important, and possible. Moral decisions are based on a code of behavior which lies specifically outside ourselves, and is focused on building a common good on the basis of a moral understanding which is defined, and unchanging. Regardless of how broad a sociological perspective one takes, when morality is separated from an unchanging definition of right and wrong, the foundation changes from rock to sand, only waiting for the next sociological revolution to come…… [Read More]
CS programs, according to Berenbeim (2009) must be integrated with the company's business ethics, and that companies must have their own "corporate ethics brand." This call for a corporate ethics brand stemmed from the fact that while CS programs are developed to benefit and improve the business's community, it is also primarily a program geared to invest in "public capital" to "enhance the value" of businesses with respect to the community. In the same way that the community is dependent on companies for employment and their services/products, companies are also dependent on the community to ensure that their operations will continue through a more than sufficient manpower supply and continued support for their products/services, hence, a holistic view of the corporate ethics brand.
Berenbeim, . (2009). "Defining the corporate ethics brand." Ethics World Website. Available at: http://www.ethicsworld.org/ethicsandemployees/viewsandanalysis.php#def
"Business ethics." (2009). London South East Website. Available at: http://www.lse.co.uk/financeglossary.asp?searchTerm=business&iArticleID=2420&definition=business_ethics.… [Read More]
Thus, the authors do not advocate an ethical free for all, for they acknowledge certain ethical broaches can result in corporate legal costs, thus resulting in executives violating the ethics of their profession -- but this is a more important ethical standard than either laws or social responsibility, stress the authors.
The authors also acknowledge that in the current environment, government regulations must be obeyed by businesses, else they face the costs of litigation. But Macham and Chester also question whether this is a good, namely if too many regulations exist and ultimately hamper corporate profits. In fact, they believe that in the ideal business environment, other than protecting property, the government should not regulate business at all, and rather internal ethical systems should govern the organization, ideally in a Friedman-like utilitarian fashion, taking into consideration the fate of stakeholders only so much as need be, for the organization to…… [Read More]
Pattern of Ethical Challenges
One company that consistently makes the news because of ethical issues is Walmart. This essay examines business ethics as practiced at Walmart.
Founded in 1962, Walmart has grown to sales of $405 billion and more than 2.1 million associates worldwide. The company is now ranked as the world's largest retail chain. But that explosive growth has also made Walmart an exceptional target. How many companies can boast of their own dedicated watchdog organizations, whose sole purpose is monitoring the company's performance on a wide range of issues related to business ethics? Walmart is such a company, although it would probably prefer otherwise. According to the website of Walmart Watch, it exists solely to "hold Walmart fully accountable for its impact on communities, the American workforce, the retail sector, the environment and the nation's economy" (Walmart Watch, 2011). Launched in 2005, Walmart Watch's stated purpose…… [Read More]
Walt Disney is the largest entertainment company in the industry all over the world. Throughout the years the company ahs become a leader in the source of entertainment.an in-depth look at the company's financial processes [provides an insight of how the company became known, respected and loved by many people all over the world. Disney is a familiar household name due to the its lasting impact not only in American society but all over the world .from 1920's Walt-Disney has left an impact to people throughout the world for its entertainment which includes films, theme parks as well as resorts (Disney, 2013). Being a leading entertainment company in the world is an indication that the financial performance of Walt Disney has been secure since its inception. Everyone in the world enjoys entertainment and Walt Disney has natured and organization that provides entertainment to people just as…… [Read More]
In the long run, Machan & Chesher's argument makes sense -- care for the health and safety of company employees and see the company grow more profitable! Care for one's own health and one will be a better employee! However, management does not always take the long-term vision that, 'if I allow my employee to take a day off for the flu, he or she will be more productive upon his or her return, and not infect other employees.' Employees may be told to come in to the office when they are sick or else they will be fired. Thus, they risk their own health or the health of others, to make a quick return on the corporation's investment in an employee. Also, an adolescent or even a twenty-year-old on his or her first job may have a sense of invincibility, and do imprudent things, like speed to deliver pizzas,…… [Read More]
Companies that outperformed their peers environmentally performed better on the stock market by as much as 2%.
The Storebrand Scudder Environmental Value Fund selects firms that rank in the top third in environmental performance within their industry sector. The fund grew 51% between 1996 and 1998, and outperformed the comparable Morgan Stanley international World Index by 8% over the same period.
1996 study by ICF Kaiser Consulting Group that looked at 327 S&P 500 firms found that companies could push up their stock price by as much as 5% by improving environmental performance.
All these studies are valuable resources for helping a company understand that ethical behavior will actually improve a company's ability to make profits. While there has been much emphasis on legal accountability for unethical behavior, more emphasis should be placed on the positive relationship between ethics and financial performance.
Webley, S. And More, E. Does business…… [Read More]
Whereas I try to respect the requirements of formal rules and procedures, I would prefer to violate those rules where their application would lead to an unintended result or undermine the effort to achieve the greatest benefit. In this respect, I would violate the requirements of rule utilitarianism where isolated violations provide a benefit without necessarily resulting in any diminution of the greatest possible good. For example, our office building prohibits coworkers from using their access passes to allow other employees to enter the facility without their own access cards. I recognize that, in the aggregate, the purpose of this rule is designed to preserve the safety of all of us by reducing the likelihood of access by unauthorized personnel. However, in the isolated circumstance where a coworker known to me forgets his credentials at home, I will violate the rule for the purpose of the good of that individual.…… [Read More]
PHL/323 Ethics Management Current Ethical Issue Business Paper (select a recent article -- back 1 year) • esearch information issue deals business ethics a newspaper, magazine, journal, TV, Internet.
Current ethical issue in business: Ethics of marketing junk food
There are many products which are marketed to the American public which are not 'healthy' such as cigarettes and spirits. However, the issue of food marketing is a more nebulous one, ethically speaking. Unlike nicotine and alcohol, human beings need food to survive. But certain types of food have been identified by many nutritionists as being uniquely deleterious to human health, aka 'junk food.' McDonald's has drawn particular ire, in part because of its marketing to children, according to the article "Marketing to children: Accepting responsibility," recently published in Business Ethics. McDonald's is an American icon, yet it also sells some of the unhealthiest food in the country. McDonald's…… [Read More]
Adamson, John. Law for Business and Personal Use. Mason: South -- Western, 2008.
Lamb, Charles. Marketing 5. Mason: Cengage -- South Western, 2011.
Simms, Mary. "What are the Different Consumer Groups." E. How. Last modified 2012. http://www.ehow.com/info_8060212_different-consumer-groups.html
Chicago Format. http://owl.english.purdue.edu/owl/resource/717/03/
Mary Simms, "What are the Different Consumer Groups," E. How, last modified 2012, http://www.ehow.com/info_8060212_different-consumer-groups.html
"Community," American Marketing Association, last modified 2012, http://www.marketingpower.com/Community/Pages/sigs.aspx
"The American Citizen Interest Groups," Twyman-Whitney, last modified 2012, http://www.twyman-whitney.com/americancitizen/links/lobbies.htmv
John Adamson, Law for Business and Personal Use (Mason: South -- Western, 2008) 164 -- 178.
John Adamson, Law for Business and Personal Use (Mason: South -- Western, 2008) 164 -- 178.
John Adamson, Law for Business and Personal Use (Mason: South -- Western, 2008) 164 -- 178.
John Adamson, Law for Business and Personal Use (Mason: South -- Western, 2008) 164 -- 178.
Charles Lamb, Marketing 5 (Mason: Cengage -- South Western, 2011), 35 -- 39.…… [Read More]
Those discretionary areas include sales and negotiating. These are open to flexibility, argument, discussion -- all within boundaries. The boundaries that fence them in are the non-discretionary functions of the business, those areas where the lines must not be crossed.
The non-discretionary areas have very firm guidelines, rules, and even laws and regulations that guide what can and cannot be done. It is when we violate those guidelines, that we cross ethical and/or moral standards whether or not we actually violate the law. There is no compromise in the non-discretionary areas. usiness ethics can be a very personal function rather than organizational (Cagle, Glasgo, & Holmes, 2008).
As an example, safety is non-discretionary. Safety procedures must be enforced and employees have to follow them. There is no negotiation or flexibility. If the company does not establish proper safety standards but no one gets hurt, is it a violation of business…… [Read More]
Finally, the universalizing stage is often referred to as enlightenment, or having achieved a true understanding of the nature of good virtue. (Fowler, 1995; p.p. 73-145).
Clearly, my personal ethical values are heavily influenced by my stage of personal development. As I continue to grow, my values will evolve and adapt to my new way of looking at the world. The way that defining moments influence me will also be controlled by my ethical level of development. However, having at least a conscious understanding of my level of development allows me to better understand my ethical influences, work to overcome the obstacles my ethical development stage creates, and better work to be a better employee and leader.
adaracco, Joseph L. (2002): Leading Quietly: An Unorthodox Guide to Doing the Right Thing. Cambridge: Harvard usiness School Publishing.
adaracco, Joseph L. (2006): Questions of Character: Illuminating the Heart of Leadership through…… [Read More]
Business Ethics Case Study -- Harassment on the Job
Applicable Ethical Systems
The principal ethical system at issue in this case is the concept of equal rights and opportunities and, even more fundamentally, the obligation of employers to protect all rights of their employees from malicious conduct and abuse from coworkers (Halbert & Ingulli, 2008). Employment law expressly prohibits harassment at work in connection with gender and also absolutely requires management to respond immediately and effectively to complaints of any such abuse (Halbert & Ingulli, 2008).
From a more general ethical perspective, the conduct perpetrated against the two female firefighters was unconscionable because it was predicated on prejudices about their gender and their rights to hold positions for which they were qualified by virtue of having passed the requisite employment tests. More importantly, the actions perpetrated against them were emotionally damaging in one case and physically harmful in the other…… [Read More]
Three common characteristics of poor decision making are the following errors in logic: appeals to pity, ad hominem arguments, and arguments from authority. Appeals to pity do not focus on the victim and try to create pity for a victim in order to elicit a certain result. However, these appeals to pity frequently fail to adequately link the lobbied-for action with the victim's predicament. That someone is in a bad situation is not a reason to act unless that action would remedy the victim. Moreover, it is not a reason to act if that action would harm a person who was not responsible for the victim's predicament. Therefore, while an ethical decision-maker should be compassionate, he should not have his decisions dictated by pity. Another characteristic of poor decision making is listening to the ad hominem attack. Ad hominem attacks attack the character of a person rather the…… [Read More]
This would lead to a new round of calls for increased ethical standards. (De George, 2005)
Name at least three reasons why ethics are important to your job/profession or a job/profession you would like to work in Three reasons why ethics is important would include: it helps improve decision making, allows us to go beyond traditional business theories and it creates a culture of acceptable behavior within an organization. Decision making is improved, because executives can see the impact of their actions. Ethics help managers to choose the outcome that will have greatest impact, resulting in improved decision making. Once this takes place it allows, executives will be able to see what is occurring beyond traditional business theories. Where, ethics will shape how each theory is applied and to what degree. Over the course of time, the consistent application of ethical standards will become a part of the business culture,…… [Read More]
Ethics in usiness
usiness ethics can be seen from two perspectives. The first, highly personal view of ethics depends to a great extent upon a person's upbringing and life experience. Thus, if a person was raised to be ethical and moral in a general sense, and has been so throughout life, it is likely that he or she would be an ethical business person as well. Secondly there is the perspective from a business point-of-view. Some have found that it is a sound business principle to be ethical, and that sound ethics also mean a sound bottom line. However, it does appear that ethics in business are experiencing a crisis. Some blame inadequate business courses for this.
O'Neill (2002) for example blames scandals such as those caused by Enron and WorldCom on business programs in schools that fail to make ethics a priority of teaching. Instead, he claims, the ideal…… [Read More]
In the case of Enron, upper-level executives went too far. By blatantly lying on numerous occasions about the value of their stock, participants like CEO Kenneth Lay overstepped the boundaries of utilitarian lying.
Many studies have been conducted on the relationship between ethics and profitability in the business world. Studies indicate a "positive but not definitive" relationship between ethical behavior and financial success (ebley and More). Especially in the wake of the Enron disaster, investors and employees are looking toward companies with stronger ethical codes. Research has also indicated that companies that overtly refer to their codes of ethics in their annual reports and other public communications fare better than those that don't, in terms of economic added value (EVA), market added value (MVA), and reduced volatility (ebley and More).
Such research does not indicate a causal relationship between ethical behavior and profitability. hat such research indicates is not necessarily…… [Read More]
Business Structure and Ethics in Organizational Behavior
Business ethics can also be known as corporate ethics. It is described as a form of professional or applied ethics that helps in investigating ethical principles as well as moral or ethical problems that comes up within different business environment. Its application takes place within every aspects of business conduct and it is always of relevance to the individuals' conducts and the organization as a whole. The aim of the paper is to examine ramifications and application of business structure and ethics in organizational behavior that will impact businesses in the next ten years.
Sometimes business may try to make short-term gains when it decides to turn a blind eye to ethics. Even though there are laid down regulatory oversight, code of practice, as well as ever-increasing public pressure, most of the firms always decides to ignore ethical considerations. Moreover, they…… [Read More]
Business and Ethics
The business ethics checklist
Organizational Decisions-Making on Substandard Products
Unaccountable products from companies or manufacturers are often regarded dangerous, unsafe and substandard, both by the target consumers and government. Unfortunately, toy products stand among the most affected group of items within the field of production. Sub-standard products are those that do not meet the legal and safety standards and/or qualities set by the pertinent authorities. Such products may result due to failure in quality control during the production process, or failure in legal handling pursuit. According to Cockburn (2005), these are genuine items produced by legitimate manufacturers; however, they do not satisfy the quality disclaimers that the producer defines. It may not be intent of the company to cheat, but may be as a result of problems during the manufacturing process. Thecase of metal whistle herein is thereby regarded to fall under the category of sub-standard products,…… [Read More]
ecent high profile bankruptcies in the U.S. corporate sector such as the ones filed by Enron, WorldCom, and Global Crossing in 2001 have highlighted the importance of financial ethics in business since lack of ethical practices were identified as the main cause of their failures. The business scandals underlined the importance of stricter regulation of the corporate sector and forced the U.S. legislature to pass the Sarbanes-Oxley Act of 2002 that contains a number of important provisions relating to business ethics. This paper about business ethics focuses on the impact of financial ethics in business.
Greed and an over-riding focus on increasing the profits and "share-holder value" usually leads managers and business leaders to disregard financial ethics in business. Although the impact of such "over sight" may be beneficial in the short run, it is invariably disastrous in the long run -- both at the individual as well…… [Read More]
In this case the affair did not have any apparent effect on the business. In fact during the time of the nearly two-year affair profits actually rose. However the whistle blower believed that the affair was morally wrong, particularly because the boss was married with children.
The whistleblower believed that ultimately the affair would be detrimental to the business so he blew the whistle. He believed that the affair was an indication that the boss was a poor decision maker and that this poor decision making would ultimately cause the business some harm. Some people believed that he was not obligated to tell of the affair. However, others argued that it would be just a matter of time before the decisions that he made in his private life would affect the manner in which the business was run. In this instance the idea of preventing harm encompassed a broad scope.…… [Read More]
The U.S. Navy falls more towards the engaged end of the continuum but they are not as actively engaged as Costco. The Navy's ethics relate to its core values. In many respects, honesty and integrity are crucial to the Navy's success. This is certainly the case with respect to internal interactions. ith respect to external interactions, however, the Navy moves away from active ethical behavior towards relative indifference to the issue. To some degree this is necessitated by the work the Navy must do. Combat work and other issues relating to national security occasionally require that the Navy not treat all stakeholders equally well. Such activity, secrecy or lack of public accountability is not actively unethical; it is simply necessitated by circumstances. However, the majority of activity of the U.S. Navy is conducted according to high ethical standards, which puts them towards the engaged end of the continuum.
orks Cited:…… [Read More]
Timmon's Manufacturing Company employee Don Carmen was used by DeVito Management Consultants as part of a time study in the painting of a new product. That time study will be used to establish the labor time standard for the next 6 months. Don was aware that he was being used in the time study, so he slowed his pace in order to obtain a labor time standard that would be easy to meet.
Don and his coworkers were seemingly benefitted by Don's actions. By slowing down his time, Don established a slow pace that would be easy for him and his coworkers to meet. Therefore, it would seem that they would make more money for less work. However, by reducing production standards, they Don may have made the company less profitable. If the company is less profitable, it might not be able to continue to pay its staff,…… [Read More]
An ethical issue refers to a situation whereby an organization is required to choose amongst alternatives that must be evaluated as either wrong or right. For example, an ethical issue arises when a business company opts to make as much profit while pollution the environment, the dilemma here being the regulation and social consequences. The company management may opt to bribing the regulation implementing organization as long as they continue making short-term profits before the law catches up with them, by then they may be forced to attire with the rule or shut down but they will have made as much finances than when they may have started and the consequences on the social life will have reached the stage where it affects their health and made the environment unbearable. The principle of autonomy; which requires individuals to be left on their own independence to conduct their activities,…… [Read More]
Business ethics are important in conducting business transactions. There are several reasons for this. First, a firm that behaves ethically in conducting its business transactions reduces the cost of business transactions. For example, in conducting a business transaction, there is always a gap between order entry by the customers and shipping of the products by the company and payment made by the customers. The gaps between these different stages of business transactions are likely to create an unethical situation for the completion of the sale, because either customers can hold the company hostage by not making timely payment or the company can make the customer hostage by not delivering the products. If this situation becomes prevalent, the convenience for the customers and the firms who behave ethically will be still reduced in monitoring each of transaction step. Or let us take another example, where small mom-and-pop's stores do not accept…… [Read More]
For example, AIG got into a lot of trouble during the Great ecession because it was paying retention bonuses so that people about to be laid off would stay on but this was controversial because AIG got bailed out by the federal government. Even though the bonuses were contractually obligated and evne though they served a specific purpose, the vitriol and invective was toxic. This despite the fact that government-serviced entities that were ALSO bailed out the government (Fannie Mae and Freddie Mac) did the same exact payouts for the same exact reason and the outrage for those firms was a lot less even though they cost the taxpayers a whole hell of a lot more money than AIG ever has or probably ever will. In short, businesses operating within the law should not be harassed or treated unfairly but it can happen.
In short, Mackey made some good…… [Read More]
Both the government and the company failed to ensure that employees suffer as least as possible for the company's difficulties. This means that ethical responsibilities towards employees were not put into practice. Although Carroll rates ethical responsibilities on the third line of the CS pyramid, it is not appropriate to rate economic, legal, ethical, and philanthropic responsibilities with different importance. Each of them should be treated with the same importance, developing a strategy that manages to address each type of responsibility. Carroll's view on CS, mainly referring to the pyramid he developed, is considered by some as a limited approach (Visser, 2005).
3. In the MG over case, it is obvious that the government was surpassed by the situation and by the private players involved in this business. The government was unable to help the company maintain its activity and most of its employees, and this was admitted by the…… [Read More]
Other measures can include sanctions against foreign companies that are engaged in bribery. This many motivate the governments of those countries to take stronger measures towards eliminating bribery.
3) There are a couple of reasons I think Starbucks has been so concerned about its corporate social responsibility. One is that it helps cultivate a positive image of the company, which can help to both attract and retain customers. Another reason is that the company comes from a culture in the Pacific Northwest where philanthropy and social responsibility is more accepted in business. This cultural difference may have impacted the overall philosophy of Starbucks with regards to this issue. Also, Starbucks is a high-profile company. They open themselves up to significant negative publicity if they engage in social irresponsible acts. Maintaining a high level of corporate social responsibility is therefore a defense against potentially damaging criticism.
Starbucks' various relationships are generally…… [Read More]
Love Canal Scandal
The Love Canal situation dealt with a chemical company that buried there toxic chemical waste and then sold the land that was contaminated. The Hooker Chemical and Plastics, Co. bought a canal that was unfinished because the owner went bankrupt before he got to finish it. Hooker then filled a large area, a 3,200 ft. section of the canal with chemical waste. It wasn't Hooker alone who dumped in this area. In the same period, several other chemical companies as well as The City of Niagara alls also were also adding to the waste. Hooker claims to have chosen this site for hazardous waste due to the clay composition in the subsoil and the fact that not many people lived nearby. The company reported to have buried approximately 21,800 tons of chemical waste in the canal.
The company later sold the land for…… [Read More]
Every company regardless of the nature of their work is required to contribute to the community that sustains their growth. Casinos are therefore not an exception to this rule. We understand that they consumer massive energy and other resources to keep their customers satisfied on daily basis but that does not excuse them from contributing to the benefit of the environment and of the community that support them.
An environmentally conscious company is the one that is aware of the impact of its activities on the environment and works hard to reduce the impact. Oil companies for example come under attack regularly for damaging the environment. BP oil spill is one such example. But that doesn't mean that only companies like Oil or Drug organizations are responsible for protecting the environment, other firms are equally responsible for playing their role effectively.
Gambling is a socially acceptable activity in…… [Read More]