Business Ethics and Responsible Management

Business Ethics and Responsible
Management
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Table of Contents
INTRODUCTION...........................................................................................................................2
PART 1............................................................................................................................................2
A) Report from perspective of an employee about organizations ethical practices...............2
B) Theories of Ethics..............................................................................................................5
PART 2............................................................................................................................................7
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10
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INTRODUCTION
Business ethics is a form of implemented professional ethics that evaluate ethical moral
or principles or ethical issues that can arise in a business environment. It implements to all
aspects of venture conduct and is suitable to conduct of entire firms and individuals. There are
generally four key components in business ethics such as commitment, reliability, responsibility
and quality. The current report will base on specific case study that is Ladbrokes: The online way
to save individual job. This assignment will explain factors and companies approach to problem
gamblers and restructuring their workforce by deciding redundancies through outlines
mechanism. It will justify appropriate suggestions, two different types of ethical theories in
context of chosen caser and at last detailed discussion based on what makes an ethical leader
which will be written in form of reflection. Furthermore, this study will define some ethical
business practices that a company should consider.
PART 1
A) Report from perspective of an employee about organizations ethical practices
Ladbrokes Coral is a British gambling and betting organization, it is located in London
(Jones, Comfort and Hall, 2020). It is a market leader in retail book making in the United
Kingdom, Spain, Ireland and Belgium where company operates a mixed total of over than 2,700
betting outlets. It also operates betting facilities at nine racecourses and 8 FA premiership
grounds, including Ascot. In addition to their wide retail presence Ladbrokes is global leader in
remote gambling and offers thousands of gamble markets on a day to day basis over internet and
telephone. Betting is quite interesting and fun game, but it is very risk as well. Betting shops in
UK introduced new slot machine that is Fixed Odds Betting terminals where punters can win or
lose big. Bets of 100 pounds can be made every 20 seconds, it make a person addicted. FOBT
considered as crack cocaine and because of this reason government take major step and limited
highest bet down from £100 to £2. It put negative on betting shops like Ladbrokes and due to the
action taken by Government, Company were planning to react. They decide to close many
betting shops and because of that many people would lost their job. This reaction can be
considered as unethical behaviour of organization towards their staff members, who are unable to
find other jobs in short term period (Simion and Dumitru, 2018).
In context of case study, it can be said that Ladbrokes decision to shut down gambling
shops posing an ethical question for them. Job loss is one of the ethical challenges arising from
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given case study, which direct impact on living standards of workers and their family members.
Ethical dilemmas, also known as a moral challenge, are situation in which there is a option to be
made between two choices, neither of which resolves the condition in an ethically acceptable
fashion. In such cases, personal and societal ethical guidelines can cater no satisfactory result for
chooser. Some instance of ethical challenges include; taking credit for other’s efforts and
offering consumer a worse item or service for own profit. Case study is an ethical question for
organization because, they are not considering the impact of shops closed on their staff. Because
of this reaction many people lose jobs and company is accountable for it. Workers are key
element of business growth and success; they are able to work in complex situation or in
competitive environment within market place where firm operate since for so long. Without
skilled and talented applicants any organization cannot be able to sustain for long in their
industry.
Organizations must focus on well fare and safety of their employees; they also need to
consider staff needs and requirements as well, which is quite beneficial for them. In regard to
chosen case study based on Ladbrokes unethical behaviour, management do not take care of their
staff welfare and take decision to close some of their shops. It has been identified that
organization put figures of 5,000 job losses and 1 thousand of their 3,500 outlets closing. All
above this raise question upon reaction of firm. From chosen case study, it has been analysed that
to save their jobs in company, Bookmarker Ladbrokes coral force their workers to sign up more
gamblers as possible as they can to online accounts when they want to avoid being among people
who losses their jobs.
Along with all these things, it can be said that The chosen story describe that company
may be perceived in society as ethnical business because they not even care about their workers
and threaten them in order to increase consumers base if they wants to save their jobs. It is one of
the biggest factors that put negative impact on business of chosen firm and its market image in
front of people. This kind of behaviour also poses an ethical question for venture and raise
allegiance over them. Employees of Ladbrokes are being incentivised to inspire consumer to play
slot machines, which turn into jobs losses.
Organization wants to think about role of venture in society by conducting ethical
business practices in order to provide a lot of benefits to people. In context of this statement, it
analysed from given case study or information that three workers at company revealed that
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