Business Ethics - Assignment Solved

Added on - 31 May 2021

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BUSINESS ETHICS
Table of ContentsIntroduction....................................................................................................................2Fundamental Issues........................................................................................................2Decision Making Issues.................................................................................................3Compliance and Governance Issues...........................................................................3Diversity Issues..........................................................................................................3Ethical Decision Making Process...................................................................................4Ethical Codes..............................................................................................................4Ethical Training..........................................................................................................4Government Regulations............................................................................................4Conclusion......................................................................................................................5References......................................................................................................................6
IntroductionIn Australia, business ethics are not merely limited to generating high yields of profit,but it aims at ensuring guest satisfaction through fair means. The Australian businessethics are all about keeping themselves on the upfront while assuring protection ofindividuality (Crane and Matten, 2016). The corporate structure of the countryfocuses on egalitarianism. The country has always kept the belief of maintainingequality in terms of business ethics. The aim of the present study is to assessfundamental ethical issues in business includes encouraging conduct based onintegrity hat engenders trust. Further, issues include accommodating diversity,empathetic decision-making, and compliance and governance consistent with acompany's core values have been discussed in detail to assess the ethical issues in anappropriate manner.Fundamental IssuesThe prime emphasis remains on providing the best quality of service with genuinelyhonest business practices. But being in the 21stcentury, even the biggest and leadingcompanies fail to meet the ethics which are generalized as the norms to be followed.A numerous code of conduct are often prepared in the country for all to abide in thebusiness industry, but despite lots of efforts, the business organizations fail to putthese ethics into action. The article was written byUmberger (2017), clearly outlinesinstances of business ethical issues in Australia.One of the most severe issues in business ethics is related to trust and integrity, as perthe article drafted by Mary Umberger. The basic meaning of integrity refers to theidea of conducting all the business transactions by providing true facts and treatingeach customer in a fair manner through following the norms regarding the transactionas an appropriate code of conduct. The same can be referred in the case discussed byUmberger, who was a real estate agent and presented property to a customerinterested in developing the same into a mixed use of commercial/ residential spaceand further intended to purchase the same without communicating the same with theclient. Due to same reason he has been ordered to take action in accordance with thecode of ethics by the dispute-resolution group. The client came to know about the factonly before an hour before the deadline when he was required to submit a bid on the
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