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

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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