Business Ethics Assignment: Organizational Challenges
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Added on 2020-05-28
Business Ethics Assignment: Organizational Challenges
Added on 2020-05-28
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Running head: BUSINESS ETHICS Business EthicsName of the StudentName of the UniversityAuthor Note
1BUSINESS ETHICS Table of ContentsIntroduction......................................................................................................................................2Operational framework: Organizational Challenges of the contemporary business organizations.3Challenges in Corporate Social Responsibility...........................................................................3Challenges faced by business organizations in terms of profit....................................................6Challenges in organizational goals..............................................................................................7Conclusion.......................................................................................................................................8References........................................................................................................................................9
2BUSINESS ETHICS Introduction Over the years, the social, political and economic aspects in the global framework, havechanged considerably, which in turn have significant effects on the overall way of living ofpeople across the world and on their personal and professional domains. These changes,obviously have affected the workings and operational frameworks of the business organizationsoperating in the global framework, the same facing considerable dynamics over time(Abouzeedan & Hedner, 2012). In the last few decades, the business organizations in the international framework havechanged considerably in terms of their objectives, goals, production process, operatingframework, area of operations and others. With contemporary economic and social phenomenalike Globalization, Liberalizations and other similar incidents, more and more organizations andbusiness enterprises have been going global, by expanding their domain of operations in differentcountries and exploring varied opportunities of venturing in different types of markets (Powell &DiMaggio, 2012). The corporate culture and the work environments of these organizations arealso experiencing considerable changes with the inclusion of multi-cultured and multi-specialtyworkforce. Keeping the above situations in the global business framework into consideration, theconcerned assignment tries to discuss the challenges these contemporary business enterprisesface in the aspect of profit maximizations, their long term and short-term goals as well as thecorporate social responsibility of these organizations (Awadh & Alyahya, 2013). The assignmenttries to highlight the ethical issues faced by these organizations in the aspect of achieving theirgoals, profit expectations and I the aspect of corporate social responsibility.
3BUSINESS ETHICS Operational framework: Organizational Challenges of the contemporary business organizations The operational framework of the commercial institutions, showing the overall structure,strategic framework, productive operations, employee structure and social commitments of thesame, is the backbone of any organization. This is primarily because the sustainability,profitability and long-term prospects of any organization highly depend on how efficiently thesame carries out its functions and responsibilities. The companies also need to take intoconsideration not only the maximization of its profit, but also the maximization of welfare of thepeople attached to the company as well as of the society as a whole (Wirtz et al. 2016). In the earlier periods, the operational frameworks of the businesses used to be simple andunilateral, with the core objective being maximization of its own profit, by accruing as muchmarket share and clientele as possible and targeting maximum productivity in minimum cost.However, with time and an increasingly integrating global business environment and with thesebusinesses venturing different domains, both geographical as well as operational, their mode ofoperations has also been changing significantly (Symon & Cassell, 2012). The businessorganizations are no longer viewed as solely profit maximizing institutions but are expected tofulfill several responsibilities towards their employees and towards the society as a whole. Thisin turn, gives rise to several challenges, which the businesses face, in term of Corporate SocialResponsibility, Profits and Goals. These are explained as follows: Challenges in Corporate Social Responsibility As discussed above, the global business environment has been becoming moreintegrating with more companies venturing into different areas and product and service markets.The demand patterns of the customers across the world have also experienced immense
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