Business Values and Ethics Assignment
Added on 2021-06-14
17 Pages4527 Words52 Views
|
|
|
Student’s Last Name 1Business Values and Ethics By (Name)CourseProfessorUniversityDate
Student’s Last Name 2Executive SummaryEthics most essential part is that the business activities of any organization should adhere to the law as well as comply with standards. At the same time, it follows the organization’s own clear objectives, while meeting the interests of everyone involved in the business. Businesses are obligated to always take into consideration the interests as well as the demands of all its stakeholders such as the suppliers, employees, environment, customers, as well as the public because all these stakeholders are the reason why the business exists. The primary ethical issue that is based on business is that the multinational organizations misuse their power. Often, these multinational companies seek opportunities thus extending theiroperations to the developing nations (Ruggie, 2013, pp.217). Nonetheless, many arguments have risen concerning the behavior of the multinational companies bringing their expert workers from their home country. Mostly, these organizations have been noted to hire only low wage labors aimed at reducing their cost. Additionally, it has been argued that the firms come and extract the country’s resources after which they depart without adding any value to the host country (Tai and Chuang, 2014, pp.117). Ethically, the companies should be more helpful to the country that is hosting them by assisting them to develop through the creation of employment through the provision of job opportunities that have appropriate wages. Different points of view have been presented concerning how business may act ethically. In the case of the consumers, organizations should customers’ safety through execution of product testing before the actual launch of the product into the market such that the end results are fully known (Schmiedel, VomBrocke and Recker, 2014, pp.51). In addition, the business should set the right product price, balance its quality, offer after sales services, as well as invest the profits of the organization into research and development among their products to ensure that
Student’s Last Name 3customers get products and services that are improved in the future. In the perspective of the workers, the business should treat the employees well and with respect as well as provide them with considerable payment enough to meet their needs is an ethical behavior that is necessary forany business (Selwyn, 2015, pp.71). Among the suppliers, it is essential that the business sets thecorrect prices for its products such that the supplier receives the correct payment. In the perspective of the society, the organizations should provide specific training that the society requires as well as funding charities and the non-profit companies.As noted, some of the issues identified concern the organizational culture. Organizationalculture is viewed to be among the determinant of the extent which individual behave ethically within an organization (Smith, Gonin and Besharov, 2013, pp421). Organizational culture is a collective phenomenon which emerges from the beliefs of the members as well as the social interactions that contain shared values, a mutual understanding, belief’s patterns, as well as behaviors that tie together people in an organization over a given time. The major organizational cultures in an organization are distinguished according to the ethical behavior in business and they include: first is the culture of defiance. Organization’s members are likely to openly resist authority (Wei, Samiee and Lee, 2014, pp.63). Low ethical standards as well as cutting ethical corners arise due to failure to follow the law or misinterpreting the law intentionally. In this culture, there is the encouragement of the behavior by the top management with aim of meeting financial goals. Such an instance is where the workers are illegally employed, the organizations disregard building standards as well as the permits because the fines associated with this are much low compared to the benefits that associated with completion of the project. The second culture is the culture of neglect where the top management follows the legal and ethical norms. Nonetheless, as a result of culture, they are
Student’s Last Name 4not successful due to the failure of understanding the industry’s legal and ethical codes, not communicating properly the standards within the organization, or lack of attention in carrying out tasks. The third culture is the culture of compliance.in this culture, the law and the ethical standards are complied with regardless that the organization’s members disagree with them. Thismeans that the top management reluctantly complies with standards. However, they do not internalize or accept the values’ true spirit.
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents