Business Values, Ethics, and Information Governance: A Report

This report delves into the critical aspects of business values and ethics, exploring their incorporation within global culture and the reasons behind business failures in ethical management. It examines the core values and ethical considerations in business, the significance of ethical practices, and their impact on organizations. The report further discusses environmental ethics, corporate social responsibility, and the ethical responsibilities of businesses towards their stakeholders, including suppliers, employees, and customers. It also addresses the role of business management in community and society and illustrates how firms can incorporate effective information governance and key performance indicators. The report analyzes the impact of organizational culture on ethical practices and provides recommendations for shifting operational models towards better business ethics, offering a comprehensive overview of how businesses can foster ethical conduct and long-term sustainability.

Business Values
and Ethics

Table of Contents
INTRODUCTION...........................................................................................................................1
Question 1........................................................................................................................................1
a. Illustrate the background of business values and management ethics that are incorporated
within the global culture..............................................................................................................1
Executive Summary.........................................................................................................................1
Introduction......................................................................................................................................1
Main Body.......................................................................................................................................2
Conclusion ......................................................................................................................................5
b. Why businesses fail to practice the management of Ethics in the workplace due to
organization culture along with overall conclusion & recommendations on how organizations
can shift the operating model towards better Business Ethics....................................................5
Question 2........................................................................................................................................6
Write report on environmental ethics as well as corporate social responsibility by illustrating
effects of CSR on ethics of business within Pioneer Corporation..............................................6
Introduction......................................................................................................................................6
Environmental Ethics & Corporate Social Responsibilities.......................................................7
Question 3........................................................................................................................................9
Write an essay on illustration of views with respect to how firms can take effectual steps for
incorporation of information governance along with key performance indicators.....................9
Introduction......................................................................................................................................9
Main Body.......................................................................................................................................9
Conclusion.....................................................................................................................................11
Question 4: Corporate Responsibility............................................................................................11
Introduction....................................................................................................................................11
Question 1......................................................................................................................................11
What is the appropriate role of business management in community and society?..................11
Question 2......................................................................................................................................12
What is important for organisation ethical responsibility for suppliers, employees &
customers or earning profit for stockholders?...........................................................................12

Question 3......................................................................................................................................12
Does Wal-Mart have responsibility towards everyone along with this illustrate the
significance of ethics and business?..........................................................................................12
Conclusion.....................................................................................................................................12
References......................................................................................................................................14

INTRODUCTION
Business values refer to core or corporate values that are dependent on fundamental
beliefs on which business as well as their behaviour is based on. They act as guiding principles
which are being utilised by firms for managing their internal affairs along with relationship
among their customers (Dierksmeier and et. al, 2016). Business ethics refers to study of what
constitutes right or what constitutes wrong in context of firm. Business values and ethics denotes
knowledge, abilities and skills which are required for maintaining higher levels of personal as
well as professional integrity to act like ethical agents who are liable for promoting
accountability, integrity and core values within the organisation. This report comprises of values
as well as management of ethics which have been incorporated and provide overview on why
businesses fail to practice these aspects. Along with this, it renders details related with
environmental ethics along with corporate social responsibility and ways in which appropriate
governance can be incorporated. Furthermore, it involves role of business management in
community and responsibilities towards their crucial stakeholders.
Question 1
a. Illustrate the background of business values and management ethics that are incorporated
within the global culture
Executive Summary
Business values denote beliefs which are being shared by individuals related with culture
in context of what is good as well as bad. They lead to creation of huge impact on behaviour as
well as attitude of individuals and furnish broad guidelines with respect to distinct situations
which prevails while delivering their services. Management ethics implies social responsibilities
of organisation and this denotes discipline that is liable for dealing with right and wrong or
obligation and duty which acts as standard of behaviour that is liable for guiding managers
within carrying out their activities.
Introduction
Business value denotes an informal term that comprises of all forms of values that is
liable for identification of health as well as well-being of the organisation within the long run.
Management ethics refers to ethical treatment of stakeholders, public, owners and employees by
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organisation. Basically, it denotes study of standards of behaviour of business that is liable for
promoting good as well as human behaviour (Pandey and Rishi, 2016). This essay comprises of
crucial aspects related with business values, ethics and culture which creates an impact on
organisation while rendering their services in global environment.
Main Body
The moral convictions or beliefs which are liable for guiding judgement as well as
actions within distinct conditions is referred to as business values. It creates an impact on
objectives as well as priorities of corporate managers. Business value expands conceptions
related with value of organisation that is beyond economic values which involves other forms
like customer value, channel partner value, societal, channel partner values and many others.
Business values furnish guidelines for making effectual decisions as well as holding individuals
liable for peculiar decisions. There are various reasons which make it important for firm to set up
the organisational values. They have been illustrated within this section like it aids employees
within effectual decision making as it leads to setting up clear values which will assist employees
to acknowledge for what organisation stands for. Like Tesco emphasise on rendering their
services by focussing on their customer and it is their value. Along with this, each employee
believe on this and render their services accordingly (Saini, 2017). This enables organisation to
attain their mission, vision and values as per required standards. For this both firm needs to make
their employees clear about the rationale behind their existence.
Employee interaction is crucial aspect for having a better organisational culture,
engagement, employee engagement, motivation as well as their satisfaction. When employer of
firm do not know what are there values then this will lead to unclear as well as inconsistent
interaction among their employees. This leads to insecurities as well as confusion. Through this,
employee engagement and motivation can also be improvised as they know their goals and
objectives which they have to attain. The company values comprises of honesty, integrity,
accountability, learning, customer experience, discipline, leadership, constant improvisation,
development of employees, quality, partnership as well as collaboration and many other entities
(Yin, Qian and Singhapakdi, 2018). An instance can be taken into consideration with respect to
firms who possess fabulous company values. Like core values of Google includes emphasise on
the user, fast is better than being slow, be serious without any suit (believe that innovative things
can occur at appropriate culture), carrying out one thing in an impelling manner and right thing.
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Business values illustrates principles that make firms stand personally (in terms of
perseverance, innovation, passion, fair-mindedness and determination), attitudes as well as
beliefs in workplace (behaviour of people) and standards of organisation with respect to
behaviour (like acceptable business practices). Furthermore, organisations develop business
values by mapping personal beliefs and principles in distinct business categories (such as
customer services, decision-making, teamwork, market identity, financial material, etc.). Here,
for each category, it is crucial to understand principles behind them, why they are important and
what impact will be created through this (Crane and et al., 2019). The next step lies within
reflecting meaning associated with each value in terms of what they mean to them like what this
value is about and what assumptions are made with respect to them. Furthermore, translate your
values within set of guiding standards as well as principles of behaviour like behaviour like if
any kind of disagreements occur within organisation like M&S then employees go to the one
with whom conflicts have occurred rather than involving other individuals within the
conversation.
Managerial ethics refers to standards of moral judgement or conduct which is being
utilised by managers of firms within rendering their operations (Yin, Qian and Singhapakdi,
2018). This leads to creation of significant impact on legal standing of firm which is being
owned big names like Steve Wynn who have gone through sexual misconduct scandals. Like
Wynn was real estate mogul who resigned from their multi-billion dollar firm when scandal took
place. This makes it crucial for to formulate ethical policies which must be applied for each
company (Davies, 2016). The policies along with ramifications associated with violations are
responsible for management of different issues which may take place within the organisation.
Managerial ethics are crucial aspects with respect to each organisation as each individual is liable
to follow their leaders in terms of what they do. Even in case, firm have ethical policies within
place then top leaders ignore these standards as well as resonate within the firm. This implies
that individuals may not act in an ethical manner when they follow actions which are being
carried out by their leader. For this, it is necessary for firms like Tesco, H&M, etc. that they
follow higher standards of leadership ethics with higher morale as well as productivity and
turnover will be minimised.
Managerial ethics is liable for setting up principles as well as rules which are being
dictated through upper management that are responsible for defining what is right and wrong in
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organisation (Pearson, 2017). There exist different types of management ethics that can be
followed by firms depending upon the environment in which they are delivering their services.
They includes immoral management (a devoid of ethical principles as well as active opposition
with respect to what is ethical and not), moral management (it is descriptor to higher standards in
terms of ethical behaviour) and amoral management (this involves intentional (so not take into
consideration ethical factors) and unintentional (careless or casual behaviour with respect to
ethical consideration in the business management ).
An example can be taken into consideration with respect to ethics, values and culture like
when KFC entered in India after economic liberalization policies in 1990, then they received
permission for having 30 outlets. The issues that were being faced by them was that they lack
understanding of economic, regulatory, ecological and cultural issues while rendering their
services within the foreign country (Seagon, Booth and Pearce, 2018). Identify the reasons for
protesting people for ethical treatment of animals (PETS) and protection of animal rights within
developed countries. From this, it is clear that, for firms like KFC or any other, it is crucial to
acknowledge significance of ethics by apprehension with respect to issues within distinct
countries. Along with this, it is important to carry out distinct audit and guideline programs that
will aid them within understanding of different operations with respect to peculiar industry in
specified region or country.
Other instance can be taken into consideration like within China, the firms need to be
global players as well as knows that they need obviate corrupt practices which are being carried
out. The firms are innovative and emphasise on spending their time on bringing in something
new within the market through which they are able to produce innovative products within the
market. Due to this reason firms such as IKEA and many others as they can have effective
workforce whose value lies on furnishing their services on time with higher efficiencies.
Similarly, within the Japanese companies like Toyota employees are loyal towards their
employers and accordingly render there services which makes organisation as well as individuals
successful nationally (Trevino and Nelson, 2016). The values, ethics and culture makes Japanese
disciplined and they strive for attaining perfection through which they can improvise economy of
the country. Another instance can be taken into consideration with respect to this like Crocs Gulf
LLC (UAE based firm) emphasise on corporate social responsibilities as for them the welfare of
community and country is primordial. Here, the firm emphasise on attaining sustainable growth
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along with having good regulatory practices. It is liable for rendering laissez-faire policies as
well as possesses minimised regulations with respect to business.
Conclusion
On the basis of above discussion, it can be said that business values and ethics
management are two crucial aspects for any business organisation conducting its operations
within an economy. Also, it is analysed that it is important for companies to develop an
organisation culture which places due emphasis upon both of these aspects as this would ensure
long term sustainability of firm. Healthy and positive working culture leads them to have
impelling as well as oriented workforce which enables organisation to attain their goals along
with objectives.
b. Why businesses fail to practice the management of Ethics in the workplace due to organization
culture along with overall conclusion & recommendations on how organizations can shift
the operating model towards better Business Ethics
Within the confines of any corporation, culture is regarded to be a complex and multi
framework structure which should be effectively aligned in a bid to foster moral conduct within
the premise of company. The frameworks pertaining to organisational culture which constitute
ethical management encompass both the formal as well as informal components of a business
association (Vazquez, 2018). In this regard, the formal components hereby include the official
correspondences taking place among the administrators of business entities, the internal
corporate policies and sets of accepted rules (code of conduct), preparing training sessions,
worker selection frameworks (hiring as well as dismissals) as well as frameworks for overseeing
output along with objective setting. On the other hand, the informal frameworks hereby
incorporate standards of every day conduct, ceremonies that assist individuals with
understanding the association's personality and the business values possessed by it, the stories
that individuals narrate universally regarding the corporation together with the language that
individuals take into use in relation to their day by day conduct.
Consequently, culture is regarded to be a totally unpredictable phenomenon which drives
worker conduct (by way of formal system) and develops via the outlooks as well as practices of
representatives (through learning and copying other individuals). The goal of business
organisation across the globe in today’s time is to empower the corporate representatives in a
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manner such that they can effectively incorporate and value the effect of behavioural norms as
well as values upon the danger of wrongdoing. In this regard, it is of key importance for entities
to gain comprehensibility of their staff behaviour on a regular basis in a bid to ensure that their
conduct is aligned with ethics and values held by the company (Arnold, 2016) .
In an instance whereby the employees of an organisation fail to incorporate the business
values as well as ethics in their behavioural conduct and business practice, the overall company
fails to exercise the management of ethics within the entity in an effectual manner. Thus, it can
be said that organisational culture is of key importance for companies to make sure that their
conduct is aligned with the social norms of society as well as industry to which they specifically
pertain.
On the basis of above discussion, it can be easily stated that organisational culture places
a crucial influence upon the management of ethics within the premises of a business entity.
Further, it is analysed that organisational culture is a composite of certain formal and informal
elements which should be taken into due consideration by the employees in a bid to ensure that
their conduct and business practices are ethical in nature (Beckett, Maynard and Jordan, 2017).
Further, it has been recommended that to improve the management of ethics in companies, the
behavioural patterns of individuals pertaining to an enterprise should be matched with the
constructs or elements of culture. This would provide assistance to the corporation in enhancing
the application of ethics management and business values within the confines of an organisation.
Question 2
Write report on environmental ethics as well as corporate social responsibility by illustrating
effects of CSR on ethics of business within Pioneer Corporation.
Introduction
Environmental ethics refer to discipline that is liable for studying moral relationship
towards human beings, values as well as moral status of environment along with non-human
contents. It is responsible to exert impact on larger range of discipline that involves ecotheology,
environmental sociology, laws, geography, economics and ecology (Elhoshi and et. al, 2017).
Corporate Social Responsibility denotes the ways in which firms manage their business
processes for furnishing affirmative influence on society. This report is based on Pioneer
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Corporation which is a Japanese multinational corporation which is specialised within digital
entertainment products.
Environmental Ethics & Corporate Social Responsibilities
Environmental ethics imply branch of ethics that is liable for studying relation of human
beings as well as environment and what role is played by them. It illustrates branch of applied
philosophy that is liable for studying conceptual foundations with respect to environmental
values and concrete influences which surrounds societal actions, policies and attitudes for
protecting as well as sustaining biodiversity within the ecological systems (Hillary, 2017). CSR
is liable for covering sustainability, ethics and social impact with respect to ways in which firms
can carry out their core business. This aims at making effectual contribution towards societal
goals of charitable, activist or philanthropic by engaging individuals within carrying out ethical
practices. CSR acts as an evolving business practice that is liable for incorporation within the
sustainable development of organisations business model. The Pioneer Group's corporate social
responsibility is liable for making effectual contribution within sustainable development of
society through putting Corporate within practices while carrying out corporate operations.
Within these activities, the firm is liable for accomplishment of social responsibilities in context
of seven themes, they are: human rights, environment, group-wide organisational governance,
community involvement as well as development, consumer issues and fair operating practices
(Kaushal, 2017).
The business activities are liable for accomplishment of goals via creation of shared
values through provisions within their products through which 17 sustainable goals are being
defined for resolution of social issues. The Pioneer Corporation adhered to ISO 26000 within
international standards for making effectual contribution for making better society by having
cooperation with their stakeholders that comprises of NGOs, business partners, local
communities and customer which are being committed for accomplishment of social
responsibilities. The Pioneer Group revised CSR procurement guidelines in context of current
global trends associated with corporate social responsibility. The various aspects associated with
this in context of business ethics have been illustrated below: Eliminate anti-social elements: The Pioneer Group needs that there suppliers are not
associated with, make use of render any kind of funds for anti-social elements. This
depicts there ethics and it is being considered as social responsibility (Lim, 2018). It will
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enable them to ensure that any kind of unwanted activities are not carried out within
working premises. Prohibition on bribery: As per Pioneer Group, all the employees are supposed to adhere
with regulations and policies against bribery which is being applicable within the
countries in which operations are being furnished by business. BCP promotion within supply chain: This involves that the Pioneer Group is liable for
recovering quickly within the events such as unforseen circumstances or disaster for
ensuring continuation of supply as well as business continuity (Marcos, 2018). Thus,
each supplier is liable for clarifying their operations while establishment as well as
continuously improvisation within BCP for enabling swift response in context of any
kind of accidents which may occur. Furthermore, in case of any kind of risks associated
with accidents and natural disasters, there exist certain environmental regulations that
might disable operations with context to them. Acknowledgement of environmental laws along with regulations: The Pioneer Group is
liable for requesting business partners for making efforts as well as enhancements with
respect to environmental preservation in which they hold up maintenance, improvisation
as well as handling over global environment with respect to next generation within their
corporate mission. This involves construction of environment management system,
reduction within greenhouse gasses, promotion of resource recycling and management of
chemical substances. Response to conflict minerals: The Pioneer Group's policy involves that any product,
part or material must not be procured which comprises of environmental destructions,
human right violations or any other kind of problems which might occur.
The Pioneer Corporation has formulated Business Ethics Committee to make sure that
there is legal compliance with respect to operations and code of conduct. The internal control
committee is liable for identification of risks that are related with business activities and also
prevention of such kind risks from occurrence (Medeiros and et. al, 2017). Along with this, the
environment is being created in which distinct group of employees are liable for maintaining
professionalism as well as work upto their complete potential for creation of new values despite
of factors like nationality, gender or age. In context of business ethics, Pioneer Group furnish
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their employees with enhanced flexibility within working styles as well as personal development
programs which comprises of furnishing support for employees in different backgrounds for
attaining enhanced job satisfaction. Furthermore, Pioneer Group is affirmatively engaged within
corporate citizenship activities in which emphasis is laid on environmental protection, audio
&video along with educational support. In addition to this, organisation, carry out distinct
activities with respect to needs local communities in context of disaster relief and social welfare
(Mees, 2019).
The Pioneer Group is engaged within advanced product quality planning (APQP) which
is a cross-organisational approach that is being utilised for finding as well as resolution of issues
in a quick manner which initialise from upstream stage an varies to product development through
which targets can be attained. They make sure that their customers are provided with quality
services and provide them with enhanced satisfaction. Pioneer Group is liable for generation of
response to environmental problems that involves environmental pollution, loss resources &
biodiversity along with global warming is considered as their social responsibility through which
they promote environmental preservation as well as proactive disclosure of information
associated with sustainable society. This is evident from Pioneer's mission in which they aims at
furnishing higher standards of living as well as delivering inspiration on the basis of new sense
of ecology. For this, they are liable for promoting group wide strategies with respect to laws and
regulations in context of social contribution as a response for issuing environmental contribution
and preservation.
Question 3
Write an essay on illustration of views with respect to how firms can take effectual steps for
incorporation of information governance along with key performance indicators.
Introduction
Data ethics refers to illustration of principles as well as furnishing guidelines which will
assist within aggregation of data in context of processing activities. This is related with
sustainable as well as responsible usage which implies carrying out appropriate thing for society
and people. Basically, it adhere and refers to principles as well as values with respect to personal
and human right protection laws (Rakesh, Anusha and Suresh, 2016). Data acts as valuable asset
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