Business Values and Ethics - Implementation of CSR Program and Ethical Issues in Financial Reporting

This report discusses the implementation of a Corporate Social Responsibility (CSR) program in Sainsbury, a leading retail organisation, and analyses potential ethical dilemmas related to financial reporting. It covers topics such as raising CSR awareness, evaluating organisational culture, designing the implementation of a CSR program, and examining issues of corporate governance from an ethical perspective.

Business Values and Ethics
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INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
You are a decision maker in your company. Analyse any potential ethical dilemmas..........3
Evaluate the organizational culture in your organizations and its preparedness for
implementing Corporate Social Responsibility initiatives.....................................................3
Design the implementation of a Corporate Social Responsibility Program in your
organization, using a CSR management system.....................................................................4
Raising CSR awareness inside the organisation.....................................................................7
Analyse any ethical issues related to financial reporting that may arise in your organization7
How do issues of corporate governance be examined from an ethical perspective?.............8
Evaluate how the strategy of your organization can be driven or constrained by ethical
behaviors and corporate values..............................................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................10
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INTRODUCTION
Ethical values and business ethics is inclusive of number of elements such as responsibility,
honesty, integrity, quality, respect, trust, teamwork leadership etc. For a business organisation it
is essential to perform business operations with positive values and ethics in order to sustain in
business environment (Adiguzel, 2021). Present report is conducted on Sainsbury which is a
leading organisation in retail industrial sector. Present report include discussion upon
organisation culture, implementation of CSR responsibility program and discussion upon ethical
issues associated to financial reporting.
MAIN BODY
You are a decision maker in your company. Analyse any potential ethical dilemmas
Ethical dilemma is defined as a problem in the decision-making process between two
possible options in which neither of the option is acceptable from an ethical perspective. In this it
is essential for a leader and manager to solve ethical dilemma in order to have an effective
solution which complies with ethical norms in a well-defined and effective manner. For a
business organisation like Sainsbury, it is important to adhere code of conduct and ethical
standards and make sure that any rules and responsibility does not violate standards. In terms
with Sainsbury, it has been identified that to conduct a decision making in effective manner with
the help of different approaches of business ethics. The ethical dilemma in company in decision
making process is related to toxic workplace culture (Breakenridge, 2021). Company has
employees from different background. In this there is toxicity in workplace culture in which
employees are not being treated in effective manner. In this with the help of taking advantage of
virtue ethics and taking advantage of positive culture ethical dilemma can be overcome. In this
with help of taking strong decision-making practices with the help of virtue, ethics and justice
the issue can be overcome in a well-defined and effective manner. There are mainly disposition
attitudes all character traits which enable to act in the way that developed this potential. In this
with the help of adopting compassion, honesty. courage integrity in the decision making process
the issue of toxic workplace culture can be efficiently overcome. Thus, from the analysis it has
been identified that with the help of taking advantage of justice and virtue ethics the potential
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ethical issues can be solved. In this to overcome toxic workplace culture I will surely implement
integrity and honesty in the decision-making process and promote the same among team and
workers, as all these factors play important role in terms of business ethics which helps in
overcoming the situation in a well-defined and effective manner.
Evaluate the organizational culture in your organizations and its preparedness for implementing
Corporate Social Responsibility initiatives
Organisational culture is defined as collection of expectations, values and practices which
guide and direct the actions of individual and team members. Organisational culture act as
backbone for business, as it helps company to sustain in this competitive business world and
provide satisfaction to consumers efficiently. It has been identified that in Sainsbury there is
democratic style of leadership with no senior management change. With the help of setting
values company helps in accomplishing goals in which they can respect every individual in
organisational workplace environment for their efforts and contribution (Ermasova, 2021).
Sainsbury operating its business operations as a premier supermarket in the provinces of United
Kingdom. Organisation is continuously facing competitive threat from other rivals like Tesco,
Walmart etc. In this to efficiently compete with these issues leaders in Sainsbury developed
organisation culture which is made up of values, assumptions, tangible signs and norms of
company employees and their behaviour.
However, in order to sustain for longer period of time organisation have preparedness for
implementing CSR initiatives which is mainly a process and aims to embrace responsibility for
organisation actions and also encourage positive impact through their activities on employees,
environment, consumers, stakeholders and all other members. In order to stay align with all these
stakeholders Sainsbury leaders and managers efficiently recognise importance of corporate social
responsibility and implementing various practices and policies and changes to provide a better
place for future generation to live. In this company emphasise upon equality of rights in which
they accommodate all their employees to be treated on equal basis regardless of their colour,
gender, background etc. Equality is another prominent characteristic of Sainsbury’s social
responsibility in which leaders and managers are continuously focus upon placing females on top
management. Along with this they have also developed initiatives to contribute towards
community welfare in order to ensure that society cannot be ignored. Company keeps on
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donating in various charities to have a positive contribution towards community organisation
also aim towards respecting environment in order to overcome various environmental issues
which is creating problem of climate change in adverse manner. For betterment of society
company is planning to zero energy consumption by implementing energy conservation system
practices. With the help of these preparedness to implement corporate social responsibility
initiatives Sainsbury is developing a positive organisational culture which helps employees to be
motivated and encouraged to work for betterment towards company community society and for
themself.
Design the implementation of a Corporate Social Responsibility Program in your organization,
using a CSR management system
In order to implement the social corporate responsibility program leaders and managers with the
help of CSR management system can fulfil commitment of business to behave in an ethical way
and contribute towards improving the quality of life of workforce, community their family and
society at large level. Mentioned below implementation of CSR program within Sainsbury is
done with CSR management system:
Raising CSR awareness inside the organization
It is the first step in which leaders and managers of Sainsbury can enhance importance of
CSR within the organisation by raising CSR awareness while evaluating economic, social,
political and individual behaviour, as these are the first driver in market (Kreismann and
Talaulicar, 2021). In this with the help of influencing CSR strategy company executives can
enhance awareness among employees and workers. In addition to this leader with the help of
developing societal and positive business environment in order to implement CSR program in
efficient manner can motivate and inspire employees towards program.
Assessing corporate purpose in its societal context
Corporate values are playing important role for proactive CSR program implementation.
In this manager of company by aligning their values, mission, norms of organisation with CSR
program can enhance awareness and understanding of organisation values and vision to
organisation core business practices in order to implement CSR program. Corporate value plays
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supportive role which helps in enhancing organisation efforts to reach objectives and mission. In
this Sainsbury leaders and manager by binding corporate values with management practices can
implementing CSR program in efficient manner. Sainsbury is having corporate value and
cultural values such as avoiding wasting of all the forms of resources, respecting skilled people
and their opinion, providing training to employees with best policy and honesty, to build long-
term close relationship and having honest attitude towards consumer, suppliers and consumers.
In this organisation is need to align their CSR goals and decision making with overall strategy.
This makes leaders and managers of company to incorporate CSR program into decision making
and long-term strategy criteria in order to value a driven culture. With the help of creating
organisational culture which is adapted to work change leaders and managers can successfully
execute CSR responsibility program.
Establishing a vision and a working definition for CSR
In this with the help of identifying issues of stakeholders and critical stakeholders’
leaders’ managers can conduct in depth research of the needs and demands and gather their
opinion to implement CSR program in effective manner, according to their views. After this
establishment of a work vision according to the demand from environment in which leaders with
the help of communicating the vision with employees can inspire them and can make them act
towards socially responsible measure that has been formulated by top management. In this with
the help of communication through official documents such as corporate brochure, annual report,
online posting company can make employees work towards CSR program objectives.
Assessing current CSR status
In this manager and leader with the help of auditing CSR mission, statement code of
conduct policies and operating documents can have logical review. In this with the help of
consultant with key managers in terms with CSR program along with other industry experts and
consultant firm’s proper implementation of plan can be assured. Auditing of current practices
will allow Sainsbury to emphasize upon CSR environmental dimension and impact of
organisational activities, the social corporate commitment to sustainability and corporate
governance issues. CSR audit methodology will allow leaders and managers to engage with
stakeholders and develop trust and commitment it helps in implementing program in effective
manner.
Implementing the CSR integrated strategic plan
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In this leader and manager are required to successfully implement CSR program with the
help of analysing government detailed guidelines and checkpoints to assure successful
implementation of plan. In this with the help of providing CSR training to employee’s leaders
and managers of Sainsbury can create awareness and can help employees to understand impact
of CSR program towards their growth and organisation sustainability. With regular progress
updates managers and leaders can create enthusiasm about CSR program. In this organisation
can provide incentive such as rewarding employees for relevant suggestion, incorporating CSR
performance element in job role.
Thus, from the above-mentioned analysis it has been identified that with the help of
emphasising all these steps implementation of Corporate Social Responsibility program within
Sainsbury can done in effective manner (Naveed and Manzoor, 2021). In this organisation by
creating awareness among organisational workplace structure about the importance of CSR
program with the help of long-term strategy and strong decision making, with the help of strong
communication and establishing rewards for achievement can implement plan successfully. In
this while developing long-term value with stakeholders Sainsbury can maintain the capabilities
to accomplish CSR program goals efficiently.
Raising CSR awareness inside the organisation
CSR plays important role not only for organisation but also for employees, as it directs and
guide them to perform their roles and responsibilities with ethical standards and practices. In this
Sainsbury leaders and managers with the help of sharing knowledge and importance of CSR
within organisational workplace premises can produce more positive and productive workplace
environment which help in promoting positive efforts. In this company leaders and manager can
define the concept of CSR while making employees aware about its benefit. They can encourage
employee’s motivation by making employees believe in corporate social responsibility and
involving them at all levels by increasing participation. Sainsbury can raise awareness of CSR in
an efficient manner, in this it is essential for company leaders and managers to make employees
aware about the importance of CSR practices in terms of improving organisation public image
and perception. This will also help company to get positive feedback which helps in creating
stronger community connection. CSR practices also helps in enhancing brand awareness and
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recognition which also allow organisation to be cost saving. With the help of enhancing
awareness company can increase consumer engagement and employee engagement which can
help in fostering creativity productivity and professional growth (Ryan and Inguanzo, 2021). To
enhance awareness of CSR organisation employee engagement plays important role, in this with
the help of democratic leadership style positive changes can be enforced. It has been underlined
that, leaders and manager are required make employees work in a team. Sainsbury have
employees from different backgrounds in which individual from different background, gender,
values and religious are operating their roles and responsibility. It is one of the most important
elements which helps in enhancing CSR awareness and allow company to develop a work
environment which works towards driving change within community and society.
Analyse any ethical issues related to financial reporting that may arise in your organization
Sainsbury is operating business operations on a large scale on number of locations around
the world. This makes financial reporting important aspect for company, in which it is essential
for organisation financial managers and other executives to have a chain of command and a
systematic process to conduct financial reporting in efficient manner. In this the ethical issue
related to no direct chain of command can create problem for Sainsbury to provide best financial
reporting and analysis. Company is operating in retail industrial sector in which it is essential to
conduct financial reporting and evaluation in a systematic manner (Shawver and Miller, 2021).
Organisation in this industry sector is required to have a command chain which is effective and
highly trained. In this if employee notice any form of problem within organisation financial
reporting, then they are required to report and follow this chain in order to ensure its time
effective solution. In this without having no direct chain of command in financial reporting
Sainsbury can face major damage to organisation asset and transparency towards suppliers and
other stakeholders. It has been underlined that financial reporting assure that all users of financial
system are aware about Generally Accepted Accounting Principles (GAAP). In this industry
accounting plays important role in which accounting practices and ethical financial risk reporting
is needed to create credibility with employees and public. In this it is essential for management
of Sainsbury to have a direct chain of command and make sure that they stay away with
fraudulent financial reporting, it can lead towards mis-management of financial issue which is a
form of ethical issue that can affect organisation share price and profitability on global platform.
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In addition to this with the help of having direct ethical guidelines and spreading awareness
among employees with the direct chain of command accounting leaders and managers can have a
professional ethical standard to embrace ethics in efficient manner.
How do issues of corporate governance be examined from an ethical perspective?
Corporate governance is defined as a system, rules practice which direct organisation and
control their operation. Furthermore, it has been identified that corporate governance is defined
as the manner in which companies are duly govern and identify who has power and
accountability to undertake decisions. There are mainly four P's of corporate governance which
institute people, performance, process and purpose. Furthermore, corporate governance play
important role for Sainsbury as it is a leading industrial sector and performs its business
operations on different platforms with large number of employees. In this the help of creating a
system of rules and practices along with determining the manner in which company operates and
aligning the interest with stakeholder’s organisation can perform the roles and responsibility with
ethical business practices (Trevino and Nelson, 2021). This will also lead them towards financial
viability. It has been identified that corporate governance issue is associated to ethical
prospective as in this it is essential for company to have accountability towards stakeholders
have transparency. Ethics is important as it is the heart of corporate governance in the this with
help of integrating value such as transparency, honestly trust and fairness in decision-making
practices and policies corporate governance issues can be efficiently examines in from ethical
practices. It is essential for Sainsbury leaders and managers to embrace transparency, fairness,
trust in decision-making process practices and policies in order to identify corporate governance
issues in a well-defined and effective manner. Furthermore, it has underlined that in order to
identify and examine corporate governance issues from unethical perspective leaders and
managers are required to be transparent and accountable towards stakeholders at all the levels are
required to be treated equally and reasonably. corporate governance issues can be also examined
from ethical leadership which helped organisation to lead a culture to overcome complete
governance issue in efficient way.
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Evaluate how the strategy of your organization can be driven or constrained by ethical behaviors
and corporate values
Sainsbury is operating as a leading organisation in retail industrial sector with large number
of employees and various stakeholders. In this ethical behaviour and corporate values plays
important role as it enhances the law which is outline acceptable behaviour. It has been evaluated
that, in this with the help of establishing ethical behaviour and promoting corporate values like
integrity within employee organisation can also gain trust from stakeholders like consumers,
investors etc. In addition to this it has been underlined that it is essential for Sainsbury to
corporate ethical programs in order to drive organisation towards sustainability. By encouraging
employees to act in ethical behaviour and realising their positive impact on business performance
company can encourage ethical behaviour in organisation objectives. Furthermore, it has been
underlined that the perception of ethical behaviour can helps in handling employee job
satisfaction for organisational commitment. Sainsbury strategy can be effectively driven by
ethical behaviour and corporate values, as in retail industrial sector it is essential for an
organisation to have trustworthy relationship with all stakeholders, as it helps them to overcome
ethical dilemmas in a well-defined and effective manner (Wernaart, 2021). With the help of
ethical behaviour and corporate values Sainsbury can make awareness among employees to
sense right and wrong and identify best rational interest without sacrificing others. Thus, from
the above-mentioned analysis it has been identified that with the help of ethical behaviour and
corporate values company can enhance corporate reputation and can efficiently differentiate
themselves from other competitors. Promoting ethical behaviour helps in developing positive
corporate values through which Sainsbury can develop a better relationship with investors and
other stakeholders and can maximize overall growth in a well-defined and effective manner.
CONCLUSION
Thus, according to the above-mentioned report, it has been concluded that in order to sustain
in this competitive world business values and ethics plays important role. Along with this
corporate social responsibility also helps in enhancing organisation competitiveness in industry
which will help them to stay truthful towards all the stakeholders in industry.
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REFERENCES
Books and Journals
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Culture. In Multidisciplinary Approaches to Ethics in the Digital Era (pp. 248-275). IGI
Global.
Azharghany, R. and Suryaningsih, S., 2021. Analysis of Stabilization of Price Fixing for Foreign
and Domestic Tourists in the Perspective of Islamic Business Ethics. Jurnal
Mantik, 4(4), pp.2654-2661.
Breakenridge, D.K., 2021. Answers for Ethical Marketers: A Guide to Good Practice in
Business Communication. Routledge.
Ermasova, N., 2021. Cross-cultural issues in business ethics: A review and research
agenda. International Journal of Cross Cultural Management, 21(1), pp.95-121.
Irawan, A.W., Roni, M. and Putro, H.K., 2021. Islamic Business Ethics: How to Apply it on the
Supply Chain Management?. Journal of Sharia Economics, 3(1), pp.18-39.
Kreismann, D. and Talaulicar, T., 2021. Business Ethics Training in Human Resource
Development: A Literature Review. Human Resource Development Review, 20(1),
pp.68-105.
Martínez, C., Skeet, A.G. and Sasia, P.M., 2021. Managing organizational ethics: How ethics
becomes pervasive within organizations. Business Horizons, 64(1), pp.83-92.
Naveed, M.R. and Manzoor, S., 2021. The THE IMPACT OF GREEN WAREHOUSING,
LOGISTICS OPTIMIZATION, AND SOCIAL VALUES AND ETHICS ON THE
PERFORMANCE OF MANUFACTURING FIRMS OF PAKISTAN: TRIPLE
BOTTOM-LINE APPROACH. Research Journal of Supply Chain & Business
Management, 1(2).
Ryan, M. and Inguanzo, A.F., 2021. Big Data Ethics.
Shawver, T.J. and Miller, W.F., 2021. Assessing the Impact of Values Change Using Giving
Voice to Values. In Research on Professional Responsibility and Ethics in Accounting.
Emerald Publishing Limited.
Trevino, L.K. and Nelson, K.A., 2021. Managing business ethics: Straight talk about how to do
it right. John Wiley & Sons.
Wernaart, B., 2021. Ethics and Business: A Global Introduction. Routledge.
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