Business Ethics: Samsung Bribery Issues and Stakeholder Impact

Business Ethics
Assessment 2- Business Report
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EXECUTIVE SUMMERY
Business ethics includes the code of conduct, moral and social values. Business
ethics principles are correlated to every investors, employee and customers. Business
ethics can be defined as the moral standards of the business as well as their
employees. Business ethics are the key aspect of the individual’s morale judgment, their
right and wrong decisions. Business ethics strengthen the client loyalty, retain good
employee, and avoid legal problem and positive work environment.
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Table of Contents
INTRODUCTION...........................................................................................................................3
PART 1
PART 2
PART 3
CONCLUSION ...............................................................................................................................3
RECOMMENDATIONS
REFERENCES................................................................................................................................4
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INTRODUCTION
Business ethics defined to the application of moral value and ethical principal
applying business process. Business ethics is the study of business policy, business
activities and business situations. It is known as proper business policies related to
potentially hazardous issues like bribery, insider trading, corporate governance etc.
Business ethics is included in the code of conduct, moral and social values. Business
ethics principles are correlated to every investors, employee and customers. Business
ethics are the key aspect of the individual’s morale judgment, their right and wrong
decisions. Business ethics strengthen the client loyalty, retain good employee, avoid
legal problem and positive work environment. Business ethics can be defined as the
moral standards of the business as well as their employees. Business ethics includes
various morale principles that determine wrong and right behavior in the business. It
also includes the questions of justice, equity and fairness of the business operations.
Ethical decision making is very important in every organization because without this it
can create many ethical issues, cultural differences.
PART 1
Explanation of ethical issues in the Samsung Bribery issues
As we all know Samsung which is Electronics Company is a multinational
company originated from South Korea founded in 1938 by Lee Byung–chul. Initially
Samsung has started the career from trading industry and soon diversified itself to
textiles, retail and insurance. As of now Samsung holds the greatest installation base
from customer and revenue (Yu and Gray., 2016). Samsung is distributed among
several business units such as Electronics, Semiconductors, insurances, home
appliances and several others. The Samsung company has faced major ethical issues
such as perjury, embezzlement, concealing criminal profits, hiding assets oversees.
Stakeholders of the organization also affected by this scandal and the company had
loss the trust from stakeholders. By the ethical issue as prejury the other employees
and stakeholders misunderstood by all the policies and operations of business. This
scandal was a very big blast to Samsung’s reputation.
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