Ethical Challenges in Business and Professional Development

This report examines contemporary ethical issues within the global business environment, focusing on corporate social responsibility (CSR) as a primary concern. It investigates the influence of implementing a code of conduct, detailing its key aspects such as labor rights, health and safety, and ethical practices, and also explores the role of professional bodies like the OECD in providing support and guidance to multinational corporations. The report assesses the positive and negative impacts of both codes of conduct and professional support on CSR, considering issues related to legal, cultural, and practical challenges. Furthermore, the report includes a reflection on learning from the module, highlighting acquired skills like team working, problem-solving, and time management, along with a continuous professional development plan outlining strategies to enhance decision-making and communication skills, incorporating SMART objectives for effective skill development.

Preparing for a Professional
Career

CONTENTS
INTRODUCTION......................................................................................................................1
PART – A...................................................................................................................................1
Introduction of the challenge and issue chosen......................................................................1
Explaining the code of conduct..............................................................................................1
Support and guidance from the relevant professional bodies.................................................2
Impact of support and code of conduct on the issue..............................................................2
CONCLUSION..........................................................................................................................3
REFERENCES...........................................................................................................................4
APPENDIX................................................................................................................................5
PART– B....................................................................................................................................5
Reflection on learning from the module.................................................................................5
Continuous professional development plan............................................................................5

INTRODUCTION
As the present business world is evolving at a fast pace, the issues pertaining to the
business world is also increasing as a fast pace. All these issues have assortment of aspects.
Implications and nature. Overall, it can be termed as an ethical issue. Since, they are quite
alarming these days, it is important to address them effectively. Considering this, the main
aim of the present research work is to scrutinize a contemporary ethical issue within the
global business environment. The report will also be going to evaluate the likely influence of
executing a code of conduct along with the support from the governing bodies.
PART – A
Introduction of the challenge and issue chosen
One of the most necessary and principal ethical issues that the firms nowadays face
are trust and integrity. Additionally, numerous ethical issues appear as adjustments, outside
the reconciliation situations, whistle blowing and trustworthiness. However, the most
significant among them is corporate social responsibility (CSR). It is being referred as the
procedure with the obligation or accountability by the business to perform ethically and
fulfils the main objectives of the companies. It is often defined as the practice where the firm
performs for improving the community in some of the other. CSR might influence the
companies both positively and negatively (Benedict, 2015).
On the positive front, corporate social responsibility helps in boosting the employees
of the companies and makes them more satisfied. Additionally, it also helps in augmenting
the awareness of the brand in the market and also helps in improving the profitability and
value of the business. Nevertheless, CSR can also negatively influence the business that is it
results in rise in the cost of operations of the companies and as the companies are in the
public eye then it is more likely they are being scrutinized for anything they do. There are
many companies across the world such as Tata, Microsoft, Wipro, Micheline etc. who have
adopted social good initiative and are building them into the business framework. On the
other hand, there are some companies who are adding to this problem such as PepsiCo.,
Unilever, Tesco, ASDA etc.
Explaining the code of conduct
A code of conduct is the most common policy within the companies which helps in
laying down the principles, standards along with the moral and ethical expectations that the
workers, society and environment have as they communicate with the organizations. For the
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purpose of improving the situations for both the firms and the employees and the
communities, there are certain aspects which are being suggested by the code of conduct and
these are as follows:
 Labour and human rights – It is important on the part of the companies to paid the
minimum wages and benefits to the workers as applicable by the laws and regulations.
There should not be any sort of discrimination on the basis of caste, colour, creed and
religion. Any person age under the 16 should be not employed. Each and every
employee must have freedom to express their opinions (Alan and Wilson, 2018).
 Health and safety – Further, the code of conduct also entails that there must be
adequate systema and procedure for occupational health and safety, safe working
practices and environment, emergency preparedness and work which is physically
demanding must be controlled and determined.
 Ethics – In regards with the environment and community, it is important that suppliers
must make sure safe handling of the materials, reuse, recycle, disposal and restrict
utilizing of hazardous substances. Must take care of the emission and pollution
prevention measures. Further, confidential information should be disclosed with
applicable rules, no corruption and no improper advantage.
Support and guidance from the relevant professional bodies
The Organisation for Economic Co-operation and Development (OECD) is the most
important and popular professional body which offers continuous support and direction to the
multi-national organizations in respect with economic progress, world trade and societal
expectations. It is an inter-governmental economic organization with around 38 member
nations. OCED is being selected as it is best suited professional body that helps the firm in
dealing with the issues related to corporate social responsibility (Gordon, 2001). This
professional organization provides different guidelines and support to make sure that the
multinational corporations perform and behave in harmony with the policies of the nations in
which they are operating and with the expectations of the society. Further, they are the only
all-inclusive, multilaterally recognized code of conduct for the multinational enterprises.
They also provide non-biding principles along with the standards for covering a wide variety
of issues in relation with business ethics.
Impact of support and code of conduct on the issue
Both the code of conduct and support from the professional body might have a
positive and a negative impact on the corporate social responsibility. On the positive side,
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they provide a right direction, guidelines and policies which helps the companies aware about
the laws, regulations and ethical practices that they have to follow while operating in the
business environment. On the other hand, they sometime negatively influence both the
community and the company. In relation with the multi-national organizations, they
sometime came across with the issues related to legal and cultural aspects (Zachary, Minoo
and Yun, 2018). The code of conduct is aligned with the laws which might address
transparency and confidentiality when dealing with the workers and clients. the companies
also face issues related to cultures when the code of standards contradicts the existing culture.
Besides, sometimes the code of conduct and professional bodies does not address the realities
of the business which sometimes makes it difficult for the community and the other
stakeholders to trust the companies and their business and also create a doubt among the
societies.
CONCLUSION
Thus, from the above analysis, it can be concluded that the business ethics plays a
very crucial role in offering direction and guidance to the business corporations operating in
the international business environment. There are many professional bodies and code of
conduct that supports the multinational firms in operating effectively. However, they also
negatively influence them as well.
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REFERENCES
Books and journals
Alan, D. and Wilson, J., 2018. Business Ethics. A European Review. 7(3). pp.140–149.
Attia, M. and Edge, J., 2017. Becoming a reflexive researcher: a developmental approach to
research methodology. Open Review of Educational Research, 4(1), pp.33-45.
Benedict, S., 2015. Defining CSR: Problems and Solutions. Journal of Business Ethics.
131(3). pp.625–648.
Dalvit, L., 2021. Back to Whose “Normal”? Personal Reflections of a Visually-Impaired
Academic at a Small South African University. Communication, Culture & Critique,
14(2), pp.328-331.
Gordon, K., 2001. The OECD Guidelines and Other Corporate Responsibility Instruments: A
Comparison. OECD Working Papers on International Investment, 2001/05, OECD
Publishing.
Guccione, K. and Hutchinson, S., 2021. Enabling Efficiency and Effectiveness. In Coaching
and Mentoring for Academic Development. Emerald Publishing Limited.
Zachary, J., Minoo, A. and Yun, L., 2018. Self-Reporting CSR Activities: When Your
Company Harms, Do You Self-Disclose? Corporate Reputation Review. 21(4). pp.153–
164.
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APPENDIX
PART– B
Reflection on learning from the module
As this module has come to an end, I thought that it is important that I should reflect
upon the module and my own development that took place throughout this journey. I have
painstakingly relished this module along with its content. There are many notions and
concepts that have been picked up by me that I will definitely use in the future career and for
upcoming further studies. At the initiation of this module, I was little bit scared however after
attending the sessions I got relaxed and started enjoying the topics that are being covered in
this module of business ethics. I have acquired and learnt different skills and abilities such as
team working skills, collaboration skills, problem solving and planning skills. One of the
biggest things that I have learned from this module is questioning. In addition to this, the
module has also supported me in learning the importance of time through submitting the
assignments on time, this helped in gaining acquittance of time management skills (Dalvit,
2021). Furthermore, I think I still haves some areas that needs to be improved and developed.
However, now that I am more confident in regards with my abilities and capabilities, I think
that I will be able to overcome some of the skills which I am lacking or which needs some
improvement such as decision-making skills, and communication skills. This can be
overcome by me engaging in some research work and then planning exciting as well as
engaging activities. I will also prepare a continuous professional development plan (CPD) for
improving on the weak areas being identified. In this different SMART objective will be
prepared which will help in making sure that the skills are developed efficiently and
effectively.
Continuous professional development plan
What do I want
to learn?
What will I do to achieve
this?
What support and
resources will I need?
What are my success
criteria?
To make
improvement in
my
communication
skills.
This skill can be improved
by engaging in different
activities such as attending
seminars, reading articles
and books and assistance
Different support and
resources will be needed
such as online and
offline classes, books,
articles, seminars and
Collaborative and effective
team working in
assignments and groups
tasks. Good feedbacks from
the team members and
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from the seniors and
tutors. Further, this can
also be improved by
making suitable
association with the fellow
members, peer, tutors,
friends and family.
academic videos tutors and cordial
relationship with others
(Guccione and Hutchinson,
2021)
To enhance the
decision-making
skills
This can be improved and
developed by performing
work on growth of
decision-making skills
through choosing different
tactics which motivates
and helps in creating an
effective decision.
Through attending classes
and seminars and
investigating the issues in
detail.
Online classes, tutors,
notebooks, experts and
professionals (Attia and
Edge, 2017.)
Be able to take strong and
efficient decisions on time,
choosing the best
alternative among different
options available and be
able to determine relevant
information in the context
of that decision
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