Ethics in Business Case Study
Added on 2021-04-21
14 Pages3662 Words47 Views
Running head: ETHICS IN BUSINESS Ethics in BusinessName of the StudentName of the UniversityAuthor Note
1ETHICS IN BUSINESS Table of ContentsIntroduction......................................................................................................................................2Case Study 1- Nike..........................................................................................................................3Problem areas...............................................................................................................................4Ethics: Theoretical Framework....................................................................................................5Ethical Dilemmas.........................................................................................................................6Recommendations........................................................................................................................7Case Study 2- Kentucky Fried Chicken...........................................................................................7Problem Areas.............................................................................................................................8Ethics: Theoretical Framework...................................................................................................9Ethical Wrongdoing...................................................................................................................10Recommendations......................................................................................................................10Conclusion.....................................................................................................................................10References......................................................................................................................................12
2ETHICS IN BUSINESS Introduction The global commercial scenario has experienced considerable dynamics and changes intheir operational framework with time. Over the year, with events like Globalization,liberalization of industrial sectors of different countries and with more and more businessesincreasing their operational domain internationally, the ways of doing businesses have alsochanges considerably (Wild, Wild and Han 2014). Businesses no longer only involve the demandand supply side players but also have implications on the overall economic and social conditionsof the countries. With the increasing expansion of the businesses in different domains, socialresponsibilities of the businesses across the globe have also increased. This in turn hasincorporated the notion of ethics in the operational framework of business. The demand formoral and ethical behavior to be incorporated in the aspects of business communications,domestic as well as international, in order to increase the welfare of not only those who aredirectly involved in these communications but also of those who are indirectly affected, hasencouraged the development of the concept of business ethics (Trevino and Nelson 2016). Thefield of business ethics addresses the morality, responsibility and sensibility in the actions takenby the businesses in order to ensure that to achieve their primary priority of profit maximizationthe companies do not hamper the well being of any individual or of the society as a whole. Often in their operations and corporate decision-makings, the companies face situationsof ethical dilemmas, which involve difficult choices between economic profits and socialperformances of the commercial companies. The economic profits involve the revenue andbenefits of the company itself. However, the social performances involve the measurement of the
3ETHICS IN BUSINESS obligations of the companies to the people and societies as a whole (Moore 2012). Consideringthis, the concerned essay tries to analyze two real cases of corporate ethical dilemmas andwrongdoings, involving two multinational giants, the reputed sports wears and accessories, Nikeand the globally reputed food chain of Kentucky Fried Chicken, in the light of the theoriesexisting in the domain of business ethics (Bazerman and Gino 2012). Discussing the ethicaldilemmas and wrongdoings on parts of the decision makers, the implications and influences ofthe stakeholders and also the behaviors of the companies the essay also tries to recommend thecorrect behavior for the same and tries to justify the same in the light of the business ethicsframework. Case Study 1- Nike As discussed above, Nike is one of the predominant multinational companies operating inthe domain of design and manufacturing of apparel, sports accessories, footwear and equipments.With its origin in the United States of America and with headquarter near Oregon; the companyhas its sales in all the corners of the world. The company has average annual revenue of nearly34 billion USD and employs nearly 75,000 employees across the world (Nike.com, 2018). Withhuge penetration in the sports accessories and apparel markets worldwide and with many highprofile celebrities endorsing the brand, Nike is a known name among the global population in thecontemporary period. However, in the last few years, the company has faced huge accusations and backlashesfor allegedly running sweatshops in different developing countries. In other words, the companyhas been accused for shifting a major part of its production process in the developing and poorlydeveloped countries, where they are accused of employing people at visibly low wages and in
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