Business Ethics: Ethical Philosophy and Challenges Faced by TJ Maxx

This presentation discusses the ethical philosophy followed by TJ Maxx, a departmental store in the clothing-retail industry. It also highlights the challenges faced by the company in implementing ethical strategies and the key stakeholders involved. Additionally, it covers the strategies used by the company to overcome those challenges.

Introduction:
Business ethics generally study about the business
performance that should be act in the face of ethical
dilemma and work under different controversial
situations. This process includes different of
situations including the role of business issues and
more practices. The modern era of businesses is
basically work effectively to increase their market
share and manage varieties of reason in different
concepts. The very first reason to use business
ethics is to keep business activities within the
boundaries of law, ensuring that the people within
the organisation are not committing any activity
which is crime against the employees, customers or
any other parties (Abou Naaj and Nachouki, 2021).
This project includes some basic information and
ethical policies of the TJ Maxx, a departmental
store in clothing-retail industry. It is an American
departmental store that achieve lower prices than
others similar stores. The company has nearly 1000
stores in United State and they further try to
become it one of the major store within the country.
The company serve into the clothing, footwear,
bedding, domestic and giftware options into the
market to their customers. This report highlight
about the main reason for considering ethical in
nature for the respective company. Furthermore, a
brief discussion is made to achieve ethical
philosophy and major challenges that company
faced during implementing ethical strategies. In last
five major stakeholders are discuss and their role to
work effectively into the market.
Discuss which ethical philosophy the company follows
Ethical philosophy is the term which is very important for the
growth of the company in different manner and provide some
effective issues. TJ Maxx follow the different ethical practices
which are helpful for the company and make growth in their
market. The first link of the retail industry is helpful for
generating the link and make appropriate distribution chain and
manage the customer's effective point to achieve the view. Some
of the general philosophies are deontology, utilitarianism, rights
and virtues (Cooper, 2021). TJ Maxx work for their customers and
complete their all demand in ethical manners. They are following
the Deontology philosophy and work with different perspective to
make decision within an organisations. Some of the major ethical
philosophy that a company follow is approaches in different
sectors. These are explained below:
The company follow appropriate laws, rule and regulation to
provide appropriate company's act and different legal perspective.
All of these are helpful for generating different sectors to provide
conducting behaviour and customers with each others.
Another philosophy is to achieve obligation for the organisational
perspective to achieve employees success and make its impact on
the human rights and interest to their customers. The company
used to work and manage their safety and security within the
organisation's success.
They try to solve the conflicts and generate high level interest to
the employees for the growth of organisational perspective
(García, 2021). Company try to use customer informative data,
progress and appropriate personal benefits to achieve the
organisational perspective to the company. Company work under
the different circumstances and try to work with more effective
and appropriate challenges in the market.
Company use effective ethical practice for the growth in their
environmental perspective. Some of them are beneficial for the
society and manage their individual perspective to work
effectively in market. The company follow the perspective to
work and make ethical practices which helps to grow into the
market.
Business Ethics
The reasons why the company is considered ethical
The chosen company for this project is TJ Maxx, which is an American department company
founded in 1976 and its headquartered is in Framingham, US. In 2009, the company launched
their e-commerce website into the market and only sell their handbags that further expand the
size and include clothing, shoes and home accessories products. Fashion is the part of an
individual and show their perspective in different manners as people are living in the age of
individuation and self-expressive style (Alacovska and Bissonnette, 2021). When it comes to
ethical and sustainable development with the clothing retail industry, it feel overwhelming to
the organisation. TJ Maxx work effectively into the market and gain higher profit to work and
achieve systematic growth into the ethical clothing and accessories that are available for the
efficient price. The company believe in collaboration and ethical clothing industry. The
company provide their products at online and increase the brand image in an appropriate
ways. The company is using pie in building up the sustainable development practices to
achieve all the ethical consideration in different ways. Fashion make a positive impact on the
accessible and effective growth in their people and choose integrity at an effective and
affordable price. For strengthen the value of partnership the owner feel more grateful and
active to provide small brand to their valuable customers (TJ MAXX OF ETHICAL BRANDS,
2021). A great way to make more effective and ethical sustainable growth to simply achieve
the new clothing sector to work with the large amount of brand like H&M, Navy, GAP and
etc. and to support these brands and their values to achieve ethics in different segment
(Borglund and et.al., 2021). All of these aspect make a clear statement for working effectively
and manage perspective to achieve higher ethical standards and make systematic growth in
different channels. Furthermore, it is analyse that the use of sustainable and ethical
consideration are helpful for the company.

Company faced any ethical challenges
When it comes to the following an ethical strategy most of the
companies are able to work and make growth in different sectors. This
is very important for the organisation to work and make social
movements to achieve effective events to promote and focused on the
ethical workplace practices. TJ Maxx has found different issues which
are faced by the company in the past activities. Some of the problems
arise are explained below:
The very first problem or challenge the company faced is to lie in the
nature of different supply chain. The company is using their maximum
raw material from the suppliers and work effectively into the market
(Jain, 2021). In starting is is good to deal with their suppliers but now
the changing nature of global market in clothing retail industry will
decline the prices and revenue of the company.
Another issue which the company faced is the human rights activities
that are used to manage human price and work with the low factors
growth within Los Angeles and South-east Asia. This would lead to
miscommunication or mistrust in-between employer and employees of
the company. Many of the outlets of the company found doing poor
treatment which has make an effective standards in Southern
California.
They are having issue in making more transparent supply chain just
like the their other competitors. Furthermore, TJ Maxx work to defy the
laws and have the low profit ratio into the markets. It is very famous
and tight-lipped to manage strategies and make report in different
channels.
The company had different challenges which are associated to their
supply chain, poor workers conditions and work to manage reputation
in shop floor that is related to work and provide employee's growth to
nudged the Walmart efficiency and manage a raise sector in their
dismal performance to gain a fair wage and success into the market (TJ
Maxx Accused of Shady Labor Practices, 2021).
5 key stakeholders
The company believes in forming different policies and practices which are effective and helpful for
evolving the different perspective for the growth of the company and their stakeholders like associates,
investors, customers, government and the suppliers. Their role in following business ethics within the
respective company are explained below:
Business associates: They are working effectively with business associate by building relationship, open
door philosophies and maintain the culture. They play a significant role in managing business ethics as if
they feel demotivated then it will decline the brand image. So, it is important to share information, make
decision in their perspective and other success process (Tan and Ng, 2021).
Customers: The are spreading at world wide and the customers are work and make diversifying
demographics. Engage with customer allow the company to make effective strategies and concerns. As
change in their perspectives or preferences to buy products will decline the brand image and sales across
worldwide.
Investors: They arrange the meeting with their investor throughout each years, as it will make beneficial
growth in the company. Most of the investors are work with appropriate business ethics policies and
perform on the basis of environmental, social and government matters. This is related to work and
perform effectively to manage insight and work through the perspective.
Government: They are the one who provide firm stake and success ratio in the market. US government
highlight the sustainable and business practices that would be beneficial for the government practices
and provide a growth in oversight nature. They make a role to follow the policies related to business
ethics and minimize the community engagement process. That helps the company to follow the practice
in most effective and ethical behaviour.
Suppliers: Suppliers are the one who are interdependent to the company as the success of suppliers will
make an impact of company. It is important to understand the nature and closely analyse the external
stakeholders (Traczykowski, 2021). Within the respective organisation, it is important to analyse and
manage different perspective to gain the relationship with these stakeholders at point of time.
Business Ethics
Key elements of its successful addressing of those challenges
In order to overcome the above mentioned challenges, company using
different strategies that are effective and helpful for gain more benefits and
make corporate ladder. Some of the strategies are related to:
Strong leadership: TJ Maxx are not just loyal to their customers but for
their employees also. So, it will be beneficial for the success and growth in
the market by just empowering the charge and make effective treated by TJ
Maxx in their traditional departmental stores. The company now using
effective cost leadership approach to make more sustainable corporate
ladder in order to follow the business ethics.
Completing demand with effective price: Clothing retail industry is
working in promoting online sales and make more promotive activities
within the US market (Ruban and Yashalova, 2021). In the dilemma of
retail industry, TJ Maxx try to work and effective online presence to work
and make systematic growth that further relies on the brand items. This
approach is basically helpful for the stores to achieve primary competitors
to make systematic growth into the market.
Make something unique: In order to work with different ethical practices
it is important for the company to provide something unique to their
customers. TJ Maxx customer do not come to their stores to purchase
something particular, instead of this they search the store and looking for
the best and unique products. So, it would become beneficial for the
company and gain the effective brand image into the retailers while paying
full-price (Retail Challenge: Understanding TJX’s Success, 2021).
All of these strategies which TJ Maxx already follow
to work appropriately and overcome the challenges which are discussed
above. Finding a best deal from their customers and make them available
to offline and online markets become effective for growth of the company.
References
Books & Journals
Abou Naaj, M. and Nachouki, M., 2021. Evaluating Students’ Cyber Ethics Awareness in a Gender-Segregated Environment Under the Impact of COVID-19 Pandemic. Tem Journal-
Technology Education Management Informatics, pp.1248-1256.
Alacovska, A. and Bissonnette, J., 2021. Care-ful work: An ethics of care approach to contingent labour in the creative industries. Journal of Business Ethics, 169(1), pp.135-151.
Borglund, T., De Geer, H., Frostenson, M., Lerpold, L., Nordbrand, S., Sjöström, E., Sweet, S., Windell, K. and Grafström, M., 2021. CSR and sustainable business. Sanoma Utbildning.
Cooper, T., 2021. Teaching Global Media Ethics. In Handbook of Global Media Ethics (pp. 1071-1091). Springer, Cham.
García, E.V., 2021. Ethics, Law and Professional Deontology. ESIC Editorial.
Jain, R., 2021. Digital Ethics in Technology and Investments. In Applied Ethics in a Digital World (pp. 157-171). IGI Global.
Ruban, D.A. and Yashalova, N.N., 2021. 'Greening'business ethics in gold mining: Evidence from the codes of conduct. Resources Policy, 74, p.102322.
Tan, H.C., Ho, J.A., Teoh, G.C. and Ng, S.I., 2021. Is social desirability bias important for effective ethics research? A review of literature. Asian Journal of Business Ethics, pp.1-39.
Traczykowski, L., 2021, September. Legal Ethics Teaching: Use an Applied Ethicist. In Society of Legal Scholars Annual Conference 2021.
Conclusion
From the above project, it is analysed that ethical business is very important for the
growth of the company and achieve desired objectives. It is very important for the growth of the company and
outlined the acceptable behaviour to achieve markets and make beyond activities in different external factors.
It is determined that the company follow ethical consideration that are effective and helpful for the growth and
improve sustainable practices. It is analysed that how different stakeholders are helpful and effective to plays
an important role in maintaining the business standards and make effective development in the company's
successive policies.