When analyzing Anglo-American and Primark for this case study. These two organizations provide excellent examples and strategies on how to practice a strong ethical business behaviors. These companies' executives invested ample time and money on promoting an acceptable ethical behaviors for their organizations. Even
Q1: MBA’s were lured into working for the company with $20,000 signing bonuses and prospects of annual bonuses of up to 100% of salary. Additionally, all recruits were put on a pedestal “so they would develop a sense of superiority.” A two-week program also strove to impress Enron’s newest elite with images of Enron as “a cosmopolitan, global company with unlimited opportunities.” The company developed a reputation of being innovative and hiring only top professional staff—candidates were seen to have a high level of technical competence and an excellent track record. Moreover, the employees were convinced that both the intentions and the commitment of the company executives were aligned with the employees’ interests. Specifically in 1998, MBA’s from various prestigious universities turned down offers from very promising companies in order to work for Enron. Enron rewarded their associates with huge corporate benefits.
In 1985, Fred Fetterolf, then president, decided the company needed to document the values that all employees must live by: Integrity, environment, health, and safety; Customer; Accountability; Excellence; People; and Profitability (Lawrence & Weber, 2011, pg.129). Today they have Our Values, Integrity, Environment, Health & Safety, Innovation, Respect, and Excellence (www.alcoa.com). Alcoa has the same values as when they first started in 1888 and today they are the world’s leading producer of primary aluminum and fabricated aluminum, as well as the world’s largest miner of bauxite and refiner of alumina (www.alcoa.com). The top management commitment played a significant role in developing the ethical work climate and organizational performance seen at Alcoa. In the 1990’s Paul O’Neil the CEO implemented the health and safety to the global ethics and compliance program (Lawrence & Weber, 2011).
Setting goals give followers a common end to work towards. Setting goals can help workers stay focused and motivated President Lincoln is one of the great leaders of our nation. He displayed many leadership qualities that made him successful. By displaying President Lincoln’s leadership qualities,
Caldwell et al. (2006) noted that the duties of stewards were fraught with a complex set of ethical obligations. Many professional codes of ethics or rules are supposed to govern the ways and actions or conduct of laws given by the professionals within a professional business for you. Group of professionals generally sets these rules so that their professional peers see anyone who violations one of these rules of conducts are in violation of this rule as disapproval. The moral ethical standards of a society provide the basic guidelines for corporate ethical stewardship existence and allow us to resolve conflicts by social existence and allow us to resolve conflicts by appeal to shared principles of justification.
The role of ethics and compliance within Starbucks financial environment is a big part of the company’s business model. Starbucks is the premier roaster of specialty coffee in the world. Starbucks operates in more than 50 countries. As such Starbucks has made it a very big ideal to be compliant with financial reporting and financial regulations. Starbucks knows and realizes it is a billion dollar company with more than 20,000 shareholders.
Zappos’ leadership would agree with this statement since they believe their company culture is the differentiator. Hsieh states, “Our belief is that if you get the culture right, then most of the other stuff—like great customer service or building a long-lasting, enduring brand—will happen naturally.” Aside from how this may have impacted the company from a financial performance perspective, this was the driving factor behind the attention Zappos was receiving from consumers, the press, and academics. People were interested in taking tours of the company’s headquarters and understanding more about Zappos. This is partly because of Zappos’ unprecedented focus on its’ unique company culture. Since people talked about it and gave that aspect of the company attention, it clearly impacted Zappos in a positive way.
They create a vision, using people in the organization. Transformational leaders are generally energetic, enthusiastic, and passionate. This type of leader is concerned with being a part of the process and is also interested in helping every member of the group succeed (Cherry, 2013). Jack Welch is a great example of a transformational leader because he created a change driven environment. He expected the best from each one of his employees.
Welch’s management created wealth for shareholders. So, Steiner said that “If you had invested $100 in GE stock when Welch took the reins and held it for 20 years, it would have been worth $6,749”. (Steiner & Steiner,p.143). Welch’s management also seemed to protect and enhance societal assets. Welch acquired these businesses to improve them and reap the profits in the process.
If your image is excellent, it will make your company stand out from its competitors. Since the 1894 Mark and Spencer Company always offers products with the highest standards and quality and pride of services. So they manage good reputation and good image in the market. Because of the good quality and the pride of the service consumer building trust on the company. • High recognition of brand.