(PDF) Ethics in business and communication

Added on - 21 Feb 2021

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Ethics in Business
Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................2Explanation of the vision, leadership style and management practices and the organisationalculture..........................................................................................................................................2Management styles which influence business functions and strategies......................................4CONCLUSION................................................................................................................................4REFERENCES................................................................................................................................5
INTRODUCTIONEthicsinBusinessrefers to the study of effective plans and practices that are formulateby the management of the company. These policesand strategies are developed in context ofpotentially controversial subjects consisting corporate governance, insider trading discrimination,CSR and individual responsibilities. In context of an organisation, it refers to operations, acts andactivities of a company which are performed by the management in an appropriate manner(Bell,Bryman and Harley, 2018).In a business concern ethics indicate, when a company treat itsemployees equally in all terms such as in term of payments, employees rights, benefits andothers. Business ethics are necessary to safeguard the rights of the consumers and employees. Ina business, they are needed to provide protection to the interest of customers, shareholders,employees, rivals, dealers, suppliers and others. It help in providing prevention from exploitationfrom unfair trade practices. It is beneficial for attracting the customers because if the companymake fairness in their operations and activities, customers will show their interest in the firm. Byproviding employees rights to them within the firm, the management of the company can retainthem for a long period of time. The purpose of business ethics is to modify the management tomake responsible decisions. Managing and maintaining highly ethical behaviour of the companyduring the time of operating a business and offer benefits to all the stakeholders.It is beneficialfor the organisation because it help in increasing the productivity and the morale of the workers.This assignment is related to Tesco plc which is a British multinational retail organisationand deals in groceries and general merchandise. This firm was founded in 1919 by Jack Cohenand headquartered in Hertfordshire, England, UK. This retail organisation is the third largestretailer in the world in context of gross revenue. This firm operate its business at global level andhas shops in seven nations across Asia and Europe. The products of this firm is supermarket,hypermarket, superstore and convenience shop and there are 450,000 employees who areworking within this firm for the development and growth of the firm.The rationale for chose thiscompany is that the code of conduct of this firm is good because it produce products and servicesas per its customers need and provide a happy and healthy environment to its employees(Craneand et. al., 2019). So they are loyal towards the brand and the management of the firm formulateappropriate and effective policies so that the organisation can operate or run its businessactivities ethically.1
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