Case Study: Moral, Ethical Issues in Business Success

This case study delves into the multifaceted aspects of a successful business, examining the core components that contribute to long-term viability and growth. It begins by defining the characteristics of a successful business, emphasizing the importance of a clearly defined vision, a comprehensive business plan, short-term goal identification, skill development, effective marketing strategies, and a deep understanding of the customer base. The study then explores various strategies for achieving success, including innovation, knowledge management, competitive analysis, research and development, customer feedback valuation, and the ability to embrace change. Furthermore, the case study addresses the critical role of moral and ethical considerations in business, differentiating between moral values and ethical practices, and highlighting the importance of integrity, trust, and diversity in fostering a sustainable and responsible business environment.

Running head: CASE STUDY 1
Case study
Student’s Name
Institutional Affiliation

Running head: CASE STUDY 2
Table of Contents
Introduction....................................................................................................................................3
What defines a successful business?.............................................................................................3
a) Clearly outlined vision........................................................................................................3
b) Having a business plan.......................................................................................................3
c) Identifying your short-term goals.....................................................................................4
d) Develop and manage skills.................................................................................................4
e) Marketing............................................................................................................................4
f) Proper knowledge of your customer.................................................................................5
Strategies for success in business..................................................................................................5
a) Innovation............................................................................................................................5
b) Knowledge Management....................................................................................................6
c) Keep tabs with competition................................................................................................6
d) Research on new products and market niches.................................................................7
e) Value customer feedback...................................................................................................7
f) Embrace Change.................................................................................................................7
Moral and ethical issues in a successful business perspective...................................................8
Moral issues................................................................................................................................8
Ethical Issues..............................................................................................................................9
References.....................................................................................................................................11

Running head: CASE STUDY 3
Introduction
"The long-term success of any business calls for a diverse body of talent that can bring
fresh ideas, perspectives and views and a corporate mindset that values those views." This is a
true statement and no doubt in agreeing with it. Business success is the desire of every
entrepreneur or business specialists. The successes of a business are highly dependent on a
number of factors that are more aligned to new idea generation and formulation that pumps in the
freshness of processes in the business. Big businesses that emanated from small startups have an
admirable attribute that continually keeps them in business overcoming a number of challenges
and weathering all manner of business ups and downs.
What defines a successful business?
A successful business is defined by a number of traits that keep the business in operation
for a longer period of time. Such traits as identified by Bollins (2016) include but not limited to;
a) Clearly outlined vision
Bollins (2016) asserts that a clearly defined business vision is the beginning of a business
because the vision describes what kind of business one seeks to build. A business entrepreneur
needs to first figure out the type of a business s/he seeks to build and determine where s/he sees
the business after a period of time. A business minded individual should be able to ask himself
the “what”, “how”, “when” kind of questions before finally settling on starting the business. This
is a sure way to determine what to offer and to whom and how best to offer what you choose to
offer.

Running head: CASE STUDY 4
b) Having a business plan
Despite having a clearly defined and formulated business vision, a successful business is akin
to having a business plan that clearly outlines how best you will achieve your business vision. A
business plan is a sure way of properly reviewing all the business requirements such as
marketing strategies, planning operations, financial planning, and also consider the human
capital required to run the business (Entrepreneur, 2006).
c) Identifying your short-term goals
It is coherent that most successful businesses around have a list of deliverables that can be
achieved at a short-term period even though it is necessary that businesses have long-term
business goals. A successful business should be able to classify its short-term goals into time
frames that such goals can be achieved, for instance, quarterly goals, monthly or weekly goals
that sum up to an annual goal. Goal setting is a gradual yet continuous process that should not
only be focused in profit/revenue generation but also focus in ways of satisfying your customers’
demands, offering quality customer service, business growth and/or any other relevant task that
can boost the business.
d) Develop and manage skills
Most successful businesses have mastered the art of developing and managing skills within
the business premise. Business success is often measured on the skill set at the disposal of the
business environment and how best the business uses the available skills for its growth and
development. Successful businesses often commit its resources in training and developing the
workforce to fit and blend in the tasks they undertake. Continual training and development is the
key to ensure your staff are on par with their responsibilities and harness their full potential.

Running head: CASE STUDY 5
e) Marketing
Jamal (2015) assert that marketing in a business is at the heart of a business success since
most aspects of the business is highly dependent on the marketing strategies used by the business
owners. Marketing determines how best a business sells itself to the consumers. Without
marketing, consumers would barely know the existence of a business. Bollins (2016) further
notes that it is necessary that a business utilizes various marketing avenues such as adverts,
offering newsletters and taking advantage of social media platform for a big base of possible
customers.
f) Proper knowledge of your customer
A customer is a king in a business. A proper knowledge of business customer puts the
business in a better position to produce customer-specific service or product and working out
better strategies on how to completely satisfy the customer. Ewing (2015) adds that knowing a
customer should not only encompass age, sex, and levels of income but also other interests such
as hobbies and tastes which could also prove advantageous to the business in offering aftersales
services.
Strategies for success in business
As earlier identified, a successful business employs quite a number of strategies in
putting the business at a competitive position so that it can sufficiently, effectively and
efficiently achieve its objectives and satisfying customer needs without deviation. Sykes (2017)
analyses a number of strategies applied by successful business to beat the competition and to stay
top of their game in business making the business more successful. These include but not limited
to;

Running head: CASE STUDY 6
a) Innovation
Innovation in a business refers to the aspect of bringing a change on how to do things in a
business. The changing of how to do things would encompass creating new effective processes
and getting rid of redundant processes, creating more products, improving on the existing
products and pumping new ideas into the business (Business.gov.au, 2018). For a business to be
innovative, there should be a creation of an innovation-friendly environment where employees
are encouraged to innovate through effective processes in place. With a good approach to
innovation, the business is able to reduce operational costs, increase productivity, achieve a
competitive edge in the market, establish many stakeholders, improve profitability and revenue
generation and to build a competitive brand in the competitive market (Infoentreprenuers.org,
2018).
b) Knowledge Management
Alavi & Leidner (2001) define knowledge management as a process of securing,
apportioning, and effective use of knowledge in a business. Koenig (2018) further expounds on
the meaning of Knowledge Management in a business as a systematic approach to ensuring
information flows uninterruptedly to, from and between the right people in the right time in the
desired format and at a desired cost so that the people involved can act effectively and efficiently
for proper value creation of the business. According to Creene (2018), it is important for a
business to manage knowledge in the business premise because knowledge management is
beneficial in a number of ways such as; proper and timely decision-making process, transfer of
knowledge hence the business does not run the risk of knowledge drain, processes are
standardized, fewer mistakes in the business processes, motivation and attitude building. All

Running head: CASE STUDY 7
these aims at creating a work environment where everybody feels included hence ensuring
higher productivity and innovation.
c) Keep tabs with competition
Sykes (2017) asserts that a business entrepreneur needs to keep tabs with its main business
competitors by understanding their products or services that rival your products and services.
The information on competition will enable the business to market its products and services
strategically and to understand and use the weaknesses of the competition to the business
advantage.
d) Research on new products and market niches
A successful business takes into account the use of research and development for its
advantage. Research on new and emerging markets makes the business expand to new niches
and increase sales volume which relatively with sour the business to a new income level. It is
vital that the business management carries out a thorough homework to determine best
technologies to impose in the business to automate processes and systems in the business so that
the business becomes more effective.
e) Value customer feedback
As often said, a customer is a king in a business. The customer feedback on products and
services offered by a business will determine how best the business would perform in so far as
satisfying the customer demands and interests. The business should, therefore, listen to the
feedback regarding their services and products and offer a better service or product that suits the
desire of the stakeholders.

Running head: CASE STUDY 8
f) Embrace Change
Change is inevitable in a business environment. A successful business is one that embraces a
given change and eliminates rigidity in its processes and systems. A business owner should be
able to accept a change and make adaptable approaches. A change in product or service
responses by stakeholders should act as a trigger to introduce a counter way to embrace the
change in a flexible manner.
Moral and ethical issues in a successful business perspective
Saez (2018) analyses the moral and ethical issues that characterize successful business
and also identifies the distinction between moral issues and the ethical issues therein. Moral
issues in a business are those issues that are attributed to business values and beliefs be it
political, religious or cultural. Ethical issues, on the other hand, are the issues that govern how
best these values and beliefs are applied in the business both in the short and long-term to bring
the desired outcome. Both moral and ethical issues are therefore intertwined and should be
carefully applied in a business to maintain professionalism and manage accountability in the
operational environment.
Moral issues
Saez (2018) note that in regarding morality in business, the business owners should be
motivated to embrace morality and act in ways that preserve the business identity and what it
stands for. The morals perspective of the business should be clearly evident in the mission and
vision statements of the business. Moral issues such as trust, honesty, dedication, accountability,

Running head: CASE STUDY 9
and integrity should have a base for measurement and evaluation and if possible should be
included in the business's mission as these issues help build trust in the business and its
stakeholders. Moral issues in business are important for both legal and moral lessons, for
instance, in the event, the business spells out in its values statement that it offers equal
employment opportunities to all, it puts the business in the limelight as a discrimination-free
business which does not despise in age, gender or physical appearance.
It is, however, critical to note that there is a thin line of difference that exists between
moral issues and ethical issues, probably the difference lies in the definition of the terms. The
two terms are all intertwined in meaning and apply to a business in equal measures.
Ethical Issues
Ethical issues as earlier defined refer to how best the business puts in practice the
available moral beliefs and values such as honesty, credibility, and accountability among other
notable moral issues. Oster (2018) assert that it is vital that a business embrace major ethical
issues such as trust and integrity. Integrity, Oster (2018) notes encompass the manner in which
the business will conduct its affairs in an honest manner and commitment to fair treatment of
business stakeholders. In the realization by major business stakeholders that the business has
them at heart and treats them fairly and honestly, a big trust will be developed which in turn
results in the business success (Tutorialspoint.com, 2018).
Ethical issue consideration comes in handy with other ethical related issues such as
diversity issues. According to Sharifian (2017), diversity issues of ethical conduct related to the
difference in cultures and people who need to respected and treated fairly. Further, ethical

Running head: CASE STUDY 10
response to diversity in business starts with engaging a diverse human capital and inducing equal
opportunity framework for training and development of the diverse team so that every member
of the business feels positively accommodated.
Sharifian (2018) also notes that ethical issues also incorporate decision-making process.
It is important that a business identifies avenues for proper ethical decision-making framework
which will result in adequate solutions that uphold integral issues in determining the proper
course of action. Ethical decision making, therefore, should weigh the interest of the customers,
employees and other stakeholders without skewing to either side.
Lastly, it is ethical that a business operates in accordance with the set governance
standards. This encompasses compliance issues of the business code of conduct. This is keeping
tabs with the government regulations in complying with the laws such as environmental laws,
safety regulations, financial reporting laws among other necessary civil laws. The compliance
with these laws would win trust in all the major stakeholders of the business and create a
harmonious coexistence.

Running head: CASE STUDY 11
References
Alavi, M., & Leidner, D. E. (2001). Knowledge management and knowledge management
systems: Conceptual foundations and research issues. MIS Quarterly, 107-136.
Bollins, L. (2016). 10 Must-Have Characteristics of a Successful Business. Retrieved from
https://www.mycustomer.com/community/blogs/lisa-bollins/10-must-have-characteristics-
of-a-successful-business
Business Ethics Tutorial. (2018). Retrieved from
https://www.tutorialspoint.com/business_ethics/index.htm
Ewing, J. (2015). The Importance of Knowing Your Customer | GROW. Retrieved from
https://www.growbusiness.org/the-importance-of-knowing-your-customer/

Running head: CASE STUDY 12
Greene, J. (2018). What Is Knowledge Management, and Why Is It Important? · Spoke.
Retrieved from https://www.askspoke.com/blog/knowledge-management/knowledge-
management-importance/
Business.gov.au. (2018). Innovation. Retrieved from https://www.business.gov.au/change-and-
growth/innovation
Jamal, B. (2015). The Importance of Marketing for the Success of a Business. Retrieved from
https://www.linkedin.com/pulse/importance-marketing-success-business-jamal-eddine/
Koenig, M. (2018). What is KM? Knowledge Management Explained. Retrieved from
http://www.kmworld.com/Articles/Editorial/What-Is/What-is-KM-Knowledge-
Management-Explained-122649.aspx
Oster, K. (2018). List of Ethical Issues in Business. Retrieved from
https://smallbusiness.chron.com/list-ethical-issues-business-55223.html
Saez, A. (2018). What Are the Differences Between Ethical Issues & Moral Issues in Business?
Retrieved from https://smallbusiness.chron.com/differences-between-ethical-issues-moral-
issues-business-48134.html
Sharifian, Z. (2017). What are the ethical and moral issues in business today? Retrieved from
https://www.quora.com/What-are-the-ethical-and-moral-issues-in-business-today
Sykes, T. (2017). 6 Timeless Strategies That Drive Successful Entrepreneurship. Retrieved from
https://www.entrepreneur.com/article/242573
Inforentrepreneurs.org (2018). Use innovation to grow your business. Retrieved from
https://www.infoentrepreneurs.org/en/guides/use-innovation-to-grow-your-business/