Importance of Business Ethics in Academic and Managerial Level

Business ethics

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK 1............................................................................................................................................3
Reflation......................................................................................................................................3
TASK2.............................................................................................................................................4
Investigate and evaluate the approaches of sustainability and corporate social responsibility...4
Business ethical theories.............................................................................................................5
Informed judgement about business dilemmas...........................................................................6
Analyse stakeholder perspective on business behaviour............................................................6
Importance of business ethics in academic level and managerial level:.....................................7
CONCLUSION ...............................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Business ethics is referred as the study of various policies as well as practices of business
appropriately in 'order to identify potential controversial aspect such as corporate governance,
discrimination, insider trading, bribery as well as corporate social responsibility. Business ethics
provide the guideline that are used by the business in order to gain public approval. It facilitate
the organisation to maintain trust between customers and different market participants with
respective business. In this report the chosen scandal Samsung boss' retrial that starts bribery
charges in retail of Samsung group. This report is divided into two parts, part one is reflection
and second part contains stockholders perspective, importance of business ethics as well as
descriptive and normative business theories are covered. Various approaches such as
sustainability, corporate social responsibility is discussed in project report.
TASK 1
Reflation
In this report, I have learnt about the concepts of business ethics. In my opinion these
ethics should be implemented by every organisation in its operations in order conduct all
activities in effective as well as efficient manner. It is analysed that Samsung boss retrial for
bribery charges on the South Korea country. The organisation gives money as well as horses as a
bribery. I think it is against to the business ethics. According to my point of view organisation
should implement all ethical factors in organisational activities in order to maintain better
relation with respective customers and environmental activates (Uhl, and Lütge,2018). It is
being analysed that Samsung boss as well executives were accused to give the bribery in the
form of money and horses to park aide in order to get the government support for controversial
merger of two respective business groups. According to my view point these activities only
provide the short teem profits to the respective organisation. I think organisation should adopt
the variety of ethics in operational as well as managerial functions to build effective interrelation
with organisational activities and other respective factors as well (Adiguzel,2021). I use various
research methods in order to get relevant information. Primary as well as secondary data that
help me to complete the report on time. In the process of preparing the report, I get various skills
and competencies such as time management and management of data as well as resources in
effective manner. It has been analysed that business ethics help the organisation to attain their

objectives in effective and efficient manner. According to my point of view ethics, values and
morality enhance the personal as well as professional competencies.
TASK2
Investigate and evaluate the approaches of sustainability and corporate social responsibility
Sustainability is is defined as the comprehensive approach that facilitates the organisation
to manage things effectively and focus on the creating as well as maximising long tern values of
economic, environmental and social factors (Michael, and Helms, 2018). It facilitates the
organisation to response the all challenges effectively that are raised in the modern world due to
public and private sectors.
Sustainability: Sustainability is defined as the responsibility of an organisation for the
impact that is exerted by it in its surroundings such as in business environment and society. If all
environmental factors are managed in effective manner than it facilitates the organisation to set
lower cost, maintain effective relation with various external factors as well as manage all risk
properly. According to the case it is Samsung use the bribery in terms of money and horses that
provides it the short term profits but in order to sustain in the current competitive environment is
becomes necessary to follow all ethics in business activities (Michalos, 2017). It is referred as
the effective as well as skilled positioning of respective organisation in terms of economic reality
by facing all economic and social challenges and threats in efficient manner and enhance the
opportunities in order to gain defines objectives. In order to gain the objective of sustainability,
Samsung group have create the understanding about the respective stakeholders and build good
relation with them by engaging them with organisational activities, this will support the
respective organisation to take various sustainable competitive advantages and in development.
It is related to the transforming as well as developing the organisation and creates long term
value by innovating new products and ensure effective use of intellectual property.
Business transformation as well as sustainable approach facilitates the Samsung by
providing various benefits such as help in identifying the effective area in order to create the long
term value of organisation, it ensures the effective utilisation of resources and reduce the
operating cost, manage risk. Business stability keep effective relationship with stakeholders as
well as building loyal customer base. As the sustainability is the effective response towards the