Values, Ethics and Working Collaboratively

Values, Ethics and Working
Collaboratively

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Task 1...............................................................................................................................................3
Concept of Ethics and factors that influence ethics.....................................................................3
Importance of Workplace ethics..................................................................................................4
UK Laws promoting good ethical practice..................................................................................5
Task 2...............................................................................................................................................6
Task 3...............................................................................................................................................8
(a).................................................................................................................................................8
(b).................................................................................................................................................9
c)..................................................................................................................................................9
d)..................................................................................................................................................9
(e)...............................................................................................................................................10
(f)................................................................................................................................................10
g) ...............................................................................................................................................10
h) ...............................................................................................................................................11
CONCLUSION..............................................................................................................................11
REFERENCES................................................................................................................................1

INTRODUCTION
Any individual or business organization takes the decisions on the basis of ethics, then it
enhances the accountability and transparency of that decision. So it is important for all along
with businesses to follow ethical standards. So the report will describe the concept of ethics and
the factors that influences the importance of ethics in both personal and professional life. The
report will state the importance by covering the Tesla corporate scandals. The report will also
describe the UK laws that promote the ethical practice among the people and businesses of the
UK. The report will also cover the ethical standards that help the businesses in achieving their
goals and objectives. The report will also consider the role of collaborative working teamwork in
enhancing the skills to the employees and providing the value to the business.
MAIN BODY
Task 1
Concept of Ethics and factors that influence ethics
Ethics indicates the study of the philosophical which cover the concepts of difference
between the right and wrong and good or bad. It covers the moral values and principles that
every company and individual must have to follow. It helps in decision making in the case of
critical situations (Ferrell and et.al., 2019). It state that it is not necessary that telling truth is
always good decision, but sometime lying is also become the good decision. This concept is
known as ethical dilemma in which it become difficult to make choice between what is right and
what is wrong. There are various factors which affects or influence the ethical standards of the
individual and business organizations. And it includes:
 Personal code of ethics: This depends on the personal beliefs of the individuals. It states
the individual consideration of what is right and what is wrong.
 Legislation: This factor influences the ethical behaviour of the business by government
interference, in case if any business continuously performing unethical practices and
ignores social responsibility.
 Government rules and regulations: This factors includes the law set by the government
regarding the statutory warnings, work conditions, product safety etc. This factors helps
the businesses to know their responsibility towards the society and environment (Trevino
and Nelson, 2021).

 Social pressure: This factor influences both people and businesses decisions. By
providing the pressure, the society can influence the business towards act honestly and
follow ethics.
 Work culture: The work culture of any business influence the mind of its working
employees. The internal politics may lead to resign of various employees of the company.
 Ethical code of the company: This factor influences the business in such a way that, if a
company follow ethical practices then only they are able to survive in the competitive
market.
Importance of Workplace ethics
The Workplace ethics is important not for the business but also for the stakeholders of the
businesses who have interest in the operations and decisions of the companies. Nowadays,
various corporate scandals are taken place in order to earn profit and manipulate the society and
government. For example; Tesla corporate scandals 2018 in which the security and exchange
commission files a complaint against the CEO of the Tesla company. It is because the CEO
disclose the false and misleading financial statement to the public and break the window dressing
concept along with business ethics (Gadgil and Sockin, 2020). The company does this in order to
avoid the losses of the company and show them as a profit in the financial statement. This lead
the consequences such as the shareholders are not receiving dividend even the company showing
profit. This also cause that by visualizing the FS many financial institutions and public invest
their funds and savings in the company without knowing that the company is manipulating them.
By doing this the company ignore its responsibility towards the society and also hurt its
employees. So this case indicates how much the workplace ethics is important for the businesses.
By following the workplace ethics, companies can satisfy and make employees happy, so
that they can enjoy the work and work culture. For this the company need to implement the
systems which properly measure the performance of the employees. And appraisal and salary
hikes is provided to the employees on the basis of their performance which lead to achievement
of targets in less time (van Dick and et.al., 2019). This will further lead to increment in the
coordination among employees and also minimum wastage of resources of the business. With
this the company able to reduce their extra cost and also able to make profits. So if company earn
profits, their no need arises for the company to mislead the financial statements of the company
and showing losses as profits.