21513 Business Ethics Assignment
Added on 2020-05-11
16 Pages4207 Words75 Views
BUSINESS ETHICS2Executive SummaryEthics are an important aspect of any business organization. This is because an ethicalorganization is able to create a positive image in the views of the consumers and even for thedifferent stakeholders, which results in the company being deemed as a preferred choice for theconsumers and for the employees as well. So, not only is a company able to earn profits, but isalso able to attain and retain talent, which furthers the objectives of the companies. However,when the organization indulges in unethical activities, not only a negative perception is formedin the eyes of the stakeholders, but it also translates into the financial results of the company.This report presents a recent ethical issue, which has been in the news in the recent timesregarding the LendLease company where the matter is still pending in the court of law. This casesaw the company going against a soon to be adopted code, resulting in the company being anti-competitive. This caused a massive issue and garnered the interest of media. There werenumerous articles which covered the entire incident, particularly because of the timing of actionsundertaken by the company. This report would help in analysis this ethical issue, particularly inthe context of businesses and also would help in drawing certain recommendations, which canhelp in avoiding such incidents.
BUSINESS ETHICS3Table of ContentsIntroduction......................................................................................................................................4LendLease Case...............................................................................................................................5Ethical Issues...................................................................................................................................8Recommendations..........................................................................................................................10Conclusion.....................................................................................................................................12References......................................................................................................................................14
BUSINESS ETHICS4IntroductionThe daily life of people is full of such decisions which seem right, but where only one of thepossible actions can be undertaken, thus giving rise to an ethical dilemma. In other words, aperson has to choose between alternative approaches, which seem to be correct on a particularlevel (Chan, 2015). The ethical dilemma is decided on the basis of the ethics which a personfollows and the same is true for organizations, which are faced with ethical dilemmas on frequentbasis. Ethics are the governing codes on which the decisions and the behaviour of an individualare directed and are influenced by the moral and the values which are upheld by such person(Noddings, 2013). There is a need to base the ethical decisions on trust and integrity, particularlywhen the situation has complex matters relating to compliances, governance and diversity.Particularly when the organizations are faced with ethical issues, they have to uphold the respecttowards human dignity, towards the ethical theories and towards the concepts of corporategovernance (Dewey, 2016). The neo-liberalism approach is a new approach which has been adopted by the governmentstowards the business regulations. As per this approach, the markets are deemed to be free fromthe intervention of state and have to be allowed to operate in free competition. This would allowthe self interest of the individuals to be supported by ideas of hard work, freedom andopportunity (Ibrahim, 2012). This approach supports the globalization of markets so as to createnew markets in places where they did not exist. However, when this approach is adopted, aquestion is raised regarding the need of the stakeholders being upheld. If the government allowssuch a free trade to continue, the ethics are most likely to be breached (Springer, Birch andMacLeavy, 2016).
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