Business Ethics: Evaluating Morrison's Ethical Practices

BUSINESS ETHICS
Introduction
In today's global scenario, almost all businesses are in a cut-throat competition with its rival organizations. Amidst the hoard of building a good brand image along with increasing sales and
revenue output, it is also important to consider and follow the moral and ethical responsibilities in the context of business management. The following report will critically evaluate the ethical
business practices of a selected business organization. For this purpose the UK based retail company 'Morrison’s has been chosen in order to understand why it is considered ethical. The report
will discuss the various kinds of organizational ethics philosophies carried out by the company followed by an elaborate discussion of relevant challenges and the these were addressed in the past
by Morrison's. The report will also identify five key stakeholders of the firm and will analyse their contributions in preserving the business standards.
Discuss the reasons why Morrison's company is ethical
in nature
Morrison's is one of the fourth largest leading supermarket
retail company in UK with a strength of more than
130,000 employee workforce in over 500 retail stores. It
has a market share of around 9.8% in the UK grocery
enterprise. Morrison's ranks high on the London Stock
Exchange market and has a vast distribution network. This
retail giant offers a wide product range which consists of
farm produced organic foods & beverages, clothing,
music, etc. Morrison's has a good network of both
traditional and digital marketing platforms. With a well
diversified market supply chain, it is the largest buyer of
British farm produce and is extending its reach to more
suppliers.
Discuss which ethical philosophy the company follows
There are numerous moral and ethical responsibilities that
every business organization (be it a manufacturing, retail, or
service provider firm) needs to follow. These are also at
times known as corporate social responsibilities. The reason
of it being called so is because the larger concept of
business ethics demands that the organizations should
properly focus on fulfilling its surrounding responsibilities
in the form of environmental, social, and corporate
requirements. For instance, the retail industrial business,
like others, also need to take into consideration several
practices of honest, reliable, and ethical behaviours in their
organizational structure.
There are two type of stakeholder Morrison company has, and they are as follows-
Internal Stakeholders
- The Internal Stakeholders are all the Stakeholders that operate inside the company like the
employees, owners, shareholders and the mangers of the organization. The internal shareholders are
the ones that manage company from the inside and carefully set business standards for all the people.
External stakeholders-
The external stakeholders are people and the organization that operates outside the business. They
include the suppliers, governments, consumers, creditors and the trade unions. The external
shareholders are the ones that impact from outside to the company and plays a important role in
designing the product.