Business Ethics - Assignment Solved PDF
Added on 2021-06-17
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1Business EthicsName:Course Professor’s nameUniversity nameCity, StateDate of submission
2IntroductionBusiness ethics can be denoted as unwritten or written codes of set principles, values and morals.Ethics governs the decisions and actions taken by a company. In a contemporary competitive business world, set standards are used to determine bad and good behavior in decision making. Corporate governance and corporate social responsibilities in business also falls under ethics in business. Growing constantly and generating evolution in business is the main concern of most companies.By virtue of this, business competitiveness is generated more difficult and it is necessary to have differential factors that guide leaders to meet strategic objectives. Company in FocusBHP is one of the biggest companies in Australia that deals with mineral. It is aware that integrating CSR into its business will endear itself to the business. It focuses on addressing its approach to global sustainability and reducing the carbon emissions from its industries. In its annual report, it states that ethics and sustainability are core to business strategies and must be integrated to decision making.The importance of Business EthicsWhile it is true, issues of ethics generate great difficulty to be understood and even more to be put into practice by employees. It is important that all leaders question and ask the following questions:Is business ethics an important issue for a company?
3What effects does having a corporate governance system have? How do I measure the efficiency of compliance programs? The answer to these questions will help guide the decisions of the members of corporate governance and strengthen its entire organizational structure. In this way, business ethics becomes the most important factor, as a control to prevent fraud within the organization. If employees are ethical, it is less possible that they have criminal initiatives (Boylan, 2014). Now, the act of not establishing strong ethical facts within the organization generates a harmful product that is corruption, which is defined as the "use of power to divert the management of the public towards the private benefit (Mallin, 2013). BHP In this sense has a good organizational culture which is a main determining component of business ethics, directing people to positive changes and challenging them to contribute to the construction of a healthy culture (Jeurissen and Rijst, 2007). Strategies that Help in Implementation of Business EthicsImplementing a code of ethics: more than a document, a code of ethics are the guidelines that define how senior managers and employees should act whole. This code must be easily understood and disclosed to all personnel and most importantly all employees must comply with it. A violation of the contained policies will have disciplinary actions (Monks and Minow, 2011).Communication: the main strategy when you have a code of ethics is that it does not remain on paper. The important thing is that it is known throughout the organization and that there is feedback in order to give more impetus to the implementation and that it is easily understood by the counterparts. Employees, on their part, have the duty to report, through an ethical line, the
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