The report emphasizes the significance of CSR for Computing supplies ltd, discussing its background, development, and implications on business ethics and outcomes. It highlights potential impacts of changes in CSR on business performance and provides recommendations to improve business ethics.
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Business Ethics
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Table of Contents INTRODUCTION..........................................................................................................................3 TASK 1 : Understand perspectives on ethics and its relevance to business....................................3 1.1 Background and development of ethical approaches...........................................................3 1.2 Absolute and relative theory................................................................................................4 1.3 Ethical issues affecting the business activities and operations............................................5 TASK 2 : Report on the roles of directors, investors and other stakeholders to ensure ethical practice.............................................................................................................................................6 2.1 Conflicts between the needs and expectations of different stakeholders..............................6 2.2 Impact of CSR on Computing supplies ltd...........................................................................7 2.3 How to improve ethics.........................................................................................................7 TASK 3 : The issues which inform company reporting and their impact on society.....................8 3.1 Business objectives affected by ethical considerations........................................................8 3.2 The regulatory framework for CSR.....................................................................................8 4.1 Current ethical issues...........................................................................................................9 4.2 Potential impact of changes in the CSR on business performance.....................................10 4.3 Recommendations..............................................................................................................10 CONCLUSION..............................................................................................................................11 REFERENCES.............................................................................................................................12
INTRODUCTION Business ethics can be defined as a type of applied or professional ethics which analyzes principles, problems and moral values that are built within the business environment. There are specific set of regulations and rules which are imposed by the government which direct an organization to provide effective and satisfying services to their customers. This report is in context to Computing supplies ltd, IT solution company which is influenced by Corporate social responsibility and ethics of business. The report will identify the various impact of business ethics on the performance of a business or organization. The study will also identify the impact of ethical consideration on business objectives. Furthermore, the report will also summaries the regulatory framework of Corporate social responsibility along with the current ethical issue that is affecting the business operations of Computing supplies ltd. TASK 1 : Understandperspectiveson ethicsanditsrelevanceto business. 1.1 Background and development of ethical approaches Business ethics can be determined as a set of various values and codes of conduct which direct and guide the business and management to ensure that they perform their business operations in a fair and transparent manner. The different types of culture and structure which is followed in an organisation plays important role in the growth and development of an ethical business.It helps management to direct, control and monitor the employees as well as their performance so that the standard or quality of the business can be maintained effectively. Major objective or aim of a business or company is to generate maximum revenue and leading position in the market which possible through customer satisfaction. In this context it is essential that the organisation follows effective principles which can help in attracting more customers. Each and every company utilizes various set of values and code of conduct which assist in maintaining reputation of the brand, market position and customer's values. The organisation such as Computing supplies ltd which offers their customers similar services, Hence it is very important to follow and impose effective ethics in order to develop unique brand image or value in the customer's mind. The various developments related to ethical approaches are as described below - Teleological theory of ethics –The technological theory of ethics refereed as the various types of issues that are faced in ethical activities performed within a business or organization. It explains diverse perspectives of positive and negative action which
organizational operations tend to follow for achieving the business objectives or goals. It is commonly followed to keep the level of ethical issues and their effects on the organizational operations or functions. Deontology theory of Ethics– This theory focus on the effective set of actions instead of the possible results. It is dealing with the moral system which is built so that the organizational functions can be conducted effectively. In respect to this it is very important for the management to understand their Corporate social responsibility and moral duties. It also helps in reducing the negative impact of various activities with a goal of developing impressive corporate image. 1.2 Absolute and relative theory All approaches or theories identified with morals depend on creating positive business outomes and reduce negative activities on account of which management neglects to accomplish their objectives and targets. At the point when association works ethically and morally, they end up ready to create an incentive for their customers. Morals are likewise organized according to their district and territorial convictions. In this regard, it is imperative for associations like Computing supplies Ltd to ensure that they address every one of the viewpoints which are mindful to structure moral perspective. Beneath given are some other related morals which are as per the following: 1.Deontology ethics theory : This empowers in creating moral logic and expert morals representatives working inside association. Fundamental focal point of this hypothesis is to comprehend client's discernment and roll out improvements in administrations or business tasks with the assistance of which destinations can be accomplished. Further, it ensures that level of classification is kept up, representatives are not segregated and legitimate and applicable data is given to customers. 2.Absolute ethics theory : This hypothesis centers around single code that for the most part everyindividualtakesafter.Itisimperativethatindividualsknowaboutcertain arrangement of morals. There are cases in which individuals grow wrong recognition about the moral thought which is taken after inside association. In such circumstance, firms should ensure that they convey legitimate data related with morals that are followed in business.
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3.Teleological Ethics theory : According to this theory, it expresses that its is not right to state superfluous or negative things to people. The activity for which positive or negative data is passed on to clients may not be moral but rather the outcomes acquired will be certain. 4.Relative Ethics theory : All people can be gone to with single general standard and there is no conviction connected on them. This theory gives moral thought to think about understanding of clients and moral ethics(Steenkamp,2017). 1.3 Ethical issues affecting the business activities and operations The position and market share of an organization or business is greatly affected by its operationalandfunctionalactivities.TheHRmanagementisresponsibleformanaging operations related to the employees working int the organization. The Human resource team develops specific principles and values for the employees which helps in maintaining the smooth flow of the business activities. There are various types of ethical issues faced by Computing supplies ltd as described below - Legal and regulatory compliance – There are different regulatory frameworks which needs to be followed by a business or organization. There are many kinds of functions performed within Computing supplies LTD which are controlled and managed by the legal and regulatory frameworks. In respect to this, there are various laws and regulations that are imposed on the organizations such as Computing supplies LTD, as mentioned below - 1.Employmentlaw–Themostimportantlawfollowedbytheorganisationisthe employment law, every business needs effective and motivated employee to perform various business functions. The Employment law is a regulation imposed on every organisation or company with regards to various right of the employees such as minimum wages working hours, sick leaves etc(Suliman, Al-Khatib and Thomas,2016). 2.Censorship and internet – Businesses that aims to provide effective services and products to their customers in the long run they are required to build confidence and trust in customer's mind and it can be achieved only if the management ensures that they resolve various concerns regarding security of information, eliminating illegal practices etc.
Individual ethical responsibility – Each and every individual working in a business also have certain ethical responsibilities which they need to fulfill while working in an organization. These responsibilities are regarding their behavior within the organisation such as following various business policies, HR policies, business culture etc. The employees working in an organization should not perform any illegal practices while working in an organization or business. TASK 2 :Reportontherolesof directors,investorsandotherstakeholdersto ensureethical practice. 2.1 Conflicts between the needs and expectations of different stakeholders The Computing supplies LTD have certain aims and objective which they need to achieve in order to meet the expectations of the various stakeholders. The needs and expectations of the stakeholders derive from business objectives and goals, therefore when a business or organisation fails to achieve its goals and objectives it fails is meeting the expectations and needs of the stakeholders such as investors, employees and customers. Hence, it is very important for Computing supplies ltd to focus on achieving its aims and objectives. Various objectives set by Computing supplies ltd with respect to the expectations of the stakeholders are as described below - Profitability – The objectives and aims of every organisation is to generate profit excluding the charity businesses. The Computing supplies ltd is established with the aim of generating profit and meeting demand of the various stakeholders connected with the businessororganization.Thereducedprofitabilitynegativelyaffectneedsand expectations of the stakeholders such as investors. Profitability is very important for an organisation in order to meet the expectation of the investors with respect to the return in investment(Cramer,2017). Ethical and social responsibility – The another aim or objective of a business such as Computing supplies is to be ethically and socially responsible with regards to the environment and society or its people. The stakeholders such as customers expect a business to be environmentally and socially friendly. The stakeholders such as suppliers, employees and shareholders ensure expect some or other needs to be full-filled as they contributed to the activities of the business.
2.2 Impact of CSR on Computing supplies ltd Computing supplies ltd has been highly affected by the CSR recently, according to the case scenario a 10 year old child burnt computer for gold. The computers consist of various precious metals and gold which influence people to burn the computers(Walker and Kelly,2015). The computers generate various dangerous gases and fumes when burnt which is not good for the environment as well as people. It states that the Computing supplies ltd is not socially responsible due to the improper management of wastage. The computers and related elements should not be disposed in open environment. The company should make sure that the computers are effectively recycled in order to protect environment, society and the people. The negative impact of not fulfilling the CSR greatly affected the profitability of the business. The another issue was unsatisfied employees, Computing supplies ltd reduced the wages of employees in order to increase the profit margin. This negatively affected the employees and forced to join unions and this damaged the reputation of the company in the market. Due to this many customers discontinued their contract with the company which lead to reduction in profit of the business. Therefore, avoiding the CSR negatively affected the image and brand reputation of the company which resulted in the decreased profitability of the business. 2.3 How to improve ethics The term Corporate social obligation allows to the workers of the association to contribute towards the public or group, Environment and so on. The corporate social obligations may expedite an awesome change the economy of a nation. In the event that the association has vowed to instruct poor offspring of a specific town not just it gives a feeling of inward fulfilment yet in addition pride and happiness(Yakovleva,2017). The Corporate social responsibility goes long making a positive image for the association overall. Helping out others for instance your partners would not just take your business to a more elevated amount yet additionally guarantee the long haul achievement and development. A mindful administration assumes and critical part inmakingtheassociationprevalentanddrawsinclientsandinadditionmoregifted representatives. Individuals builds up a positive feeling for an association or brand which steps up contributing towards the public, for instance planting trees, contributing in financial crisis, instructing poor kids and etc The organisation makes a particular picture of their image among
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the general population which helps in building a positive position in the market. (Brammer and Pavelin,2016). Corporate social responsibility likewise gives a sentiment joy to the representatives, Employees take pride when their association steps up with regards to social commitment. This fortify the bond between the association and the employees. The solid bond among the representatives and association prompts the advancement of the association and enhancing the profitability and also brand value. The positive notoriety of an association creates more incomes by pulling in more clients. TASK 3 :Theissueswhichinformcompanyreportingand theirimpacton society. 3.1 Business objectives affected by ethical considerations Treating employees fairly – The ethical approach related to employment helpsinpromotingtheemployee'swell-being,safetyandsecurityat workplace. This helps in motivating the employees as well as building strong relationship with them encouraging them to perform better and achieve organizational objective effectively(Hopkins,2016). Ethical considerations to the products – The companies can apply ethical consideration to their product in order to attract more customers and high profit. The ethical considerations to products refers to high quality and safe safety. Sustainableproductionpractices–TheEthicalconsiderationsneed organizations to reduce the negative effects on the environment in which they perform their business functions. This helps in building a positive image in the market and attracting more customers. 3.2 The regulatory framework for CSR The government of UK developed a CSP website which states an ambitious visionofUKorganizationstoconsidersocial,environmentalandeconomic
impactsoftheirfunctionswherevertheyperformalloverthe world(Leipziger,2017). The UK corporate governance code is not specifically concerned with the CSR but there is some acknowledgment that an organization's roles extend beyond the shareholder. Therefore, the government has established laws and regulation for the businesses such as employment act, environmental protection policies, etc which are imposed in order to ensure that the companies are operatingtheiroperationswithrespecttotheircorporatesocial responsibilities(Argiolas,2017). 4.1 Current ethical issues TherearedifferentcurrentethicalissuesthataffectsComputingsuppliesLtd. Globalization has made the way of life, budgetary foundations, countries more associated. Thus, the moral issue identified with ideal utilization of assets has risen. This has affected Computing supplies Ltd in light of the fact that the assets appear to be drained. Subsequently, as lesser assets are accessible, Computing supplies Ltd needs to execute more effective methods for completing its tasks with the goal that the accessible assets can be utilized as a part of a more ideal way. Another moral issue might be identified with condition. There are different exercises which are engaged with running of vast associations. A significant number of these exercises may have hurtful effect on condition which turns into a moral issue. For instance, inappropriate waste administration, air contamination, water contamination and so forth all these raise moral issues as these corrupt the nature of condition. Computing supplies lid's business is affected by this moral issue since it needs to embrace appropriate waste administration forms. Alongside that, it likewise needs to coordinate its speculations towards actualizing gear and frameworks which lessen the carbon impression of the organization(McWilliams,2014). Corruption is another moral concern and incorporates a wide scope of issues which are related with, out of line and wasteful portion of assets and openings. Any demonstration of debasement and pay off inside the association influences the workers to lose confide in the business. This adversely impacts associations like Computing supplies ltd which may lose some of its effective workers as they discover the organization degenerate. Moreover, corporate social responsibility (CSR) is likewise a current moral issue. CSR exhibits the responsibility of a business towards an extensive variety of partners. Ecological assurance and in addition prosperity of workers are the
key regions of CSR The effect of this issue is that Computing supplies ltd attempts an assortment of CSR exercises, for example, diminishing nourishment wastage, supporting neighborhood groups and being an awesome manager 4.2 Potential impact of changes in the CSR on business performance The Computing supplies ltd planned to shift some of its production process to India in order to cut down the manufacturing cost, the major factor that influenced the organisation to develop this plan was to decrease the cost of the company. However, the plan may not be that successful as the local people will not be benefited due to the local wages and local use of water. The company still not focusing on the wages of the local employees which will still affect the image of the brand or company, the another issue which will remain in front of the company is the use of natural resources. The company utilizes water within their local environment which is affecting the environment. The performance of the business may rise due to the reduced production cost but still the CSR of the company is not fulfilled as the local employees within the company are not satisfied with their wages and the local environment is also getting depleted. Therefore, the change in the CSR policies can be effective only when the company focus on motivating the stakeholders such as customers and employees or protect the environment in which they operate their business(Pedersen,2015). 4.3 Recommendations With a specific end goal to be an Ethical and Socially dependable organization the Computing supplies ltd Group ought to takes after the accompanying advances - Build up a dream – Corporate Social obligation in an association begins with an attention to who the association is and what are the convictions of the association. Once the choice of stepping up with regards to the social duties is taken, While advancing a social obligation, The association need to centre around the obvious association between they say and what they can do(Choi and Moon,2016). Propelling solid and screen seriously – Once the Computing supplies ltd aggregate composed a CSR program they should make mindfulness and execute their drives
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adequately without overlooking the continuous techniques for checking how well the activities function. The Computing supplies ltd gathering needs to consider the clients needs and inclinations. The vast majority bolster moral business hones. Clients will be pulled in towards the association as they will have a positive sentiment for them on account of the social commitment. CONCLUSION The report concluded that corporate social responsibility (CSR) is very essential for every organization, the study consist background and development of ethical approaches to understand the importance of business ethics. The report also includes conflicts between the needs and expectations of different stakeholder along with the impact of CSR on Computing supplies ltd. Furthermore, the report also describe potential impact of changes in the CSR on business performance and recommendations for Computing supplies ltd in order to improve their business ethics and outcomes.
REFERENCES Books and Journal Pedersen, E.R.G. ed., 2015.Corporate social responsibility. Sage. McWilliams, A., 2014.Economics of Corporate Social Responsibility. Edward Elgar Publishing. Hopkins,M.,2016.Theplanetarybargain:corporatesocialresponsibilitycomesofage. Springer. Yakovleva, N., 2017.Corporate social responsibility in the mining industries. Routledge. Cramer, J., 2017.Corporate Social Responsibility and Globalisation: an action plan for business. Routledge. Walker-Said, C. and Kelly, J.D. eds., 2015.Corporate Social Responsibility?: Human Rights in the New Global Economy. University of Chicago Press. Leipziger, D., 2017.The corporate responsibility code book. Routledge. Choi, H. and Moon, D., 2016. Perceptions Of Corporate Social Responsibility In The Capital Market.Journal of Applied Business Research (JABR),32(5). pp.1507-1518. Argiolas,G.,2017.CorporateSocialResponsibility.InSocialManagement(pp.43-59). Springer International Publishing. Brammer,S.J.andPavelin,S.,2016.CorporateReputationandCorporateSocial Responsibility.A Handbook of Corporate Governance and Social Responsibility. p.437. Suliman,A.M.,Al-Khatib,H.T.andThomas,S.E.,2016.CorporateSocial Responsibility.Corporate Social Performance: Reflecting on the Past and Investing in the Future. p.15. Steenkamp, J.B., 2017. Corporate Social Responsibility. InGlobal Brand Strategy(pp. 209-238). Palgrave Macmillan UK
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