Business Ethics and Responsible Management

Business Ethics and
Responsible
Management

Table of Contents
PART 1-A REPORT........................................................................................................................3
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................3
TASK 1............................................................................................................................................3
Ethical issue or issues..................................................................................................................3
Role of business in society..........................................................................................................3
Five Stakeholders........................................................................................................................4
Examples of good and bad ethics................................................................................................5
Recommendations.......................................................................................................................5
TASK 2............................................................................................................................................6
Describe the theories...................................................................................................................6
Apply the theories.......................................................................................................................6
Critique........................................................................................................................................7
Recommendations.......................................................................................................................7
Part 2 REFLECTIVE ESSAY.........................................................................................................8
CONCLUSION .............................................................................................................................10
REFERNCES:................................................................................................................................11
Books and Journals:..................................................................................................................11

PART 1-A REPORT
INTRODUCTION
Day to day unethical practices are rising at an increasing rate in which one of them is
gender pay gap. Gender pay gap is the average difference between salary or wages of men and
women. It is identified that organisations do unethical practices as they make differences in
salary on the basis of gender rather than on performance (Laasch, 2018). It is very unfair with
women. This report covers the impact of gender gap with the help of a case study. In this
context, Lloyds Banking Group is undertaking to show the impact of gender gap.
MAIN BODY
TASK 1
Ethical issue or issues
In organisations there are many ethical issues that covered in organisations that reduce
the efficiency of employees and unfair with people. Gender gap is one of the main issue or
ethical issues in the society that is rising continuously. Gender gap is the difference between
wages of women and man. It is identified that day to day unethical practices are rising that is not
good for the society and the country (Kolb, Fröhlich and Schmidpeter, 2017). In this modern
world, there are many person or organisations which perform an unethical practices in which
they are not ready to provide fair wages to their employees. Every women is now focusing on
their bright future but these types of companies cannot give right to make their future bright.
This is not good for any person as it shows their unethical behaviour. It also violate the Equality
Act, 2010. Gender gap is one of the ethical issues which should be eliminate by a person or
society from the roots because it exploits the employees emotions. As per the case study, it was
found that in 2018 approximate 250 companies need to show their data in order to clear out the
gender gaps. UK prime Minister i.e. Theresa May gave a name to gender pay gap i.e. burning
injustice. It clearly shows that even Prime Minister in in against with the issues of gender gap. It
is the unethical practices or ethical issues that should removed or reduced from the society.
Role of business in society
Lloyds Banking Group is the company that deals in financial services in UK. It is the one
of the largest financial service organisation which have 30 million customers and 65000

employees. Every company needs human resources so that they can perform their operations in
the business very well. Without human and other resources it is not possible for the company that
they can run their business (Borges and et.al., 2017). Companies used society resources so it is
the duty of the company that they should behave ethically. It can be done through the ethical
practices. But it is identified that Lloyds Banking Group give their worst performance as they
have gender gap more than 30%. It really shows that they are performing not good as they are
giving excess pay to male employees as compared to female employees. It is analysed that
business plays a significant role in the society because they are the part of organisation. Due to
the human resources it gives a direct impact on the society. That means it is necessary for
organisation that they should perform good with their employees so that it reduce the negative
impact on society (Haski-Leventhal, Pournader and McKinnon, 2017). Employees' performance
depends on their organisational behaviour so that's why it gives negative impact of organisation
perform unethical issues. Lloyds Banking Group pays excess salary or wages to male employees
as compared to women that shows their unfair practices. Employees are the part of society in
which if they are not happy with the practices of organisation then it impacts on society as they
are not ready to share their resources.
Five Stakeholders
In the Lloyds Banking Group, there are many stakeholders such as customers, investors,
employees, governments, communities, etc. all of them plays a significant role in the
organisations (Stutz,and Schrempf-Stirling, 2020). So that's why if any changes are coming in
the organisation than it directly impact on every stakeholders. Customers get affected by
unethical practices of Lloyds Banking Group. They are the one who take services from Lloyds
Banking Group so if company perform any unethical practices then it destroy the trust of
customers. Due to Gender gap, customers are feeling unhappy with the practices of Lloyds
Banking Group. Whereas governments playing a major role in the organisation as they imposed
their policies. Companies need to act according to the policies and rules of governments, if they
do not act accordingly then they have to face negative consequences. As per their percentage of
gender gap it is identified that government took an action in order to reduce this gender gaps.
Investors invest in the company only after reviewing their report, but because of their negative
image they may be are not ready to invest in their company. It really gives a negative impact on
the organisation success and growth. Whereas communities has a major stakeholders in the