Understanding and Significance of Regulations, Law, and Business Ethics in Organisations

Running Head: MANAGEMENT
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Sustainability and Ethics
5/18/2019

MANAGEMENT
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Contents
Introduction............................................................................................................... 2
Q1. Understanding and significance of Regulations, law, and business ethics in organisations..........2
Q2. Organisational values that support ethical decision-making...............................................3
Q3. Evaluate the implications of social and public pressure for ethical behaviour in organisations.....4
Q4. Identify and respond to ethical dilemmas that threaten the organisation and industry................4
Q5. Role of internal values in promoting organisation’s corporate responsibility and stakeholders in
the media.................................................................................................................. 5
Conclusion................................................................................................................ 6
References................................................................................................................ 7

MANAGEMENT
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Introduction
The assignment is the self-reflection on the understanding of the concepts of organisational
values, regulations, and ethics in context to contemporary organisations. The concept of
business ethics refers to moral judgements, and beliefs that state what is right or wrong,
determining the effectiveness of operations. Therefore, it can be stated ethics is important in
any organisation, as it leads to various benefits to the organisation, and their stakeholders.
Thus, the discussion is the assessment of organisational values that support ethical decision-
making leading to higher efficiency and profitability. The report will analyse the ethical
issues or dilemma faced by modern organisations, and impact on functioning and
performance. Ethics in business will be described from my understanding developed during
the class lectures and from the textbook chapters taught by our professors. In the later part,
the report will include the assessment of the CSR values, ensuring the satisfaction of
stakeholders within organisation.
Q1. Understanding and significance of Regulations, law, and business ethics in
organisations.
In our class lectures, and video sessions we were taught the basic and important concepts of
business ethics, law, and regulations affecting operations of business. It has been found that
the rule of law is significant to managers as it guides them how to act and operate in the
organisation, and industry. Ethics is described as the moral values, judgements, and beliefs
that determines or examine ethical problems in an organisation. Therefore, it can be stated
that ethics play a vital role in any organisation, as it helps managers to coordinate their work
and take responsible decisions (Wickert, Scherer and Spence, 2016).
Moreover, I have learnt during my class lectures, that ethics are significant to the employees
and stakeholders, as it protects the interests of various stakeholders. These stakeholders
include customers, employees, suppliers and community, and ensures their protection from
the unfair trade practices within organisation. Law, and ethics contribute to the increased
efficiency and high performance of employees and overall organisation. I have studied some
of the key principles of ethics such as integrity, honesty, respect, fairness, concern for others,
and trustworthiness, abiding by laws and so on. These principles contribute to the high