Society as a whole is responsible to conduct business ethically. Parallel to the formula that we use for inventing the laws that a society created to promote specific behaviors and actions that are appropriate to build trust and relationship, it is similar in corporations' behavior. According to Svensson & Woods "Society does have expectations of business and of its business leaders" (Svensson & Woods, 2008, p. 306). Ethical business behavior is a combination of values and normative ethics, which drive an organization. When analyzing Anglo-American and Primark for this case study.
McBride will need to ensure that changes are made, compliance is researched and built-in the strategic plan, and the shareholders will be satisfied with the new MFSI. Situation Analysis Issue and Opportunity Identification The first issue facing MFSI is the need to implement a strategic plan to ensure that the company is complying with all the corporate governance bylaws. MFSI has the opportunity to turn the company around and make sure that they are applying all regulations with honesty and integrity, thus letting their customers trust the way they conduct business. MFSI also faces the issue of a lack of ethical compliance. MFSI has the opportunity to attract more companies
Last, the article will evaluate ethics in an academic setting, principally concerning academic integrity and the code of conduct. Trustworthiness, Ethical Stewardship in Leadership Comparing and Contrasting Approaches The problem is the investigation of the association linking leadership, ethical stewardship, and trustworthiness in a corporation. Perceiving the correlation of these essentials factors is critical to the accommodating new and different trends in company’s culture and stakeholders’ needs in the global industry. Researchers and theorists agree company leaders need to establish ethical stewardship, and trustworthiness to develop a strong leader and follower relationship. Woods and Winston suggest that, “Leaders earn the trust and followership of others by being trustworthy and accountable by virtue of honoring their duties to others; leaders demonstrate their commitment to the covenantal
Two views of CSR: a. Shareholder View • Maximizing shareholder value ultimately enhances society’s welfare • Problems with Shareholder View of CSR • Examples: Bhopal disaster, NIKE, Toronto’s sweatshops b. Stakeholder View • Serious considerations should be given to stakeholders’ interest (employees, consumers, local communities) in making corporate governance decisions • Multi-fiduciary duties, shareholder activism, transparency & public accountability (internal governance strategies) • Does this work? Consider sweatshops in Toronto 3. Conclusion SHAREHOLDER VIEW OF CSR Maximizing shareholder value/profits ultimately enhances society’s welfare Instrumental View of CSR Friedman (1970), Jensen (2000) • Social responsibility of corporations is to maximize profits or shareholder value • Within the constraints of law and social morality • Society benefits from profit objectives of corporations: – Job creation, – Supply of high quality, low price goods and services – Technological innovation – Taxes and Public Funding for Public Service SOME STRATEGIES OF SHAREHOLDER VIEW OF CSR • Strategies for competitive advantages – Social investment to create competitive advantage (philanthropic investment in areas related to business e.g.
The ethics section is followed by an analysis of the emerging field of corporate social responsibility (CSR) accounting and auditing, an area that might provide answers for companies with challenges similar to those Nike encountered. ETHICAL CONSIDERATIONS When Nike began using traditional advertising methods to broadcast its production practices in response to activist criticism, it began to tread an ethically challenging path. Traditional advertising ethics are insufficient when applied to corporate social responsibility disclosure because the role of “company” intertwines with the role of “citizen,” which is held to a higher ethical standard. Corporate citizens are companies acting in behalf of a social interest, which may or may not affect revenues. These socially beneficial actions raise the ethical standard for such companies because of purportedly
We understood that businesses should continuously observe their goods and services to better assist customers. They have to understand what worked and generated earnings last year may not work as well this year. So therefore, product differentiation and positioning are key elements of a company's marketing plan and are fundamental of staying ahead of the game with competitors. Also knowing with including innovative concepts with careful analysis, product differentiation helps to join quality, or price, within a product to push the intended customers to observe it as different and desirable. Then the understanding in the next step is product
We try to keep the centre of the company relatively lean, and not make too many decisions centrally that would be better made in stores or factories close to customers and suppliers. Therefore, we must have a strong group of co-workers who can make the right decisions to support our strategies. (Strategy Allignment) Strategically People & Planet Positive IKEA Group Sustainability Strategy for 2020 Sustainability is one of the four cornerstones of the Growing IKEA Together business direction. From its beginnings, the company concentrated on continuous cost reduction in a way that elevated it almost to an art form. As a result low prices (SHRD) - System of strategic development and utilization the people working in the organization to cope with the environment changes in business efficiently, competently manage
Running Head: CASE STUDY The Coors Case: Balanced Scorecard Objective of Implementing Balanced Scorecard The main objective of implementing the balanced scorecard (BSC) in the Coors is to implement an effective performance measurement process as traditional process is not quite effective to measure the performance of the corporate and business units. The main objective to implement BSC in the organization is to increase the focus on continuous improvement. The other objective of the business is to reward the employees on their performance and also for their risk taking ability and learning to improve performance. The BSC will also be effective to state the employees about the opportunity and reward for their working clearly. The gap between the vision statement and sic planks of the Coors also supports the implementation of BSC within the organization as it would be effective to bridge the gap and to increase the business profitability.
Scholars and practitioners have increasingly acknowledged the gap of trust between leaders and followers, which undermine employees’ commitment, impair wealth creation, and create increased transaction costs in organizations throughout the world (Caldwell et al., 2010). This indicates that leadership of a company needs to ensure that they develop an organizational culture that uses ethical stewardship to develop a sense of corporate trustworthiness among its various stakeholders so that it can enhance its sustainability in a highly competitive market. Leadership Behavior According to Gini (1998), ethical leaders are leaders who use their social power in their decisions, their own actions, and their influence on others in such a way that they act in the best interest of followers and not enact harm upon them by respecting the rights of all parties. Rather than focusing on the intent or motivation of ethical
I would be able to have more time to help him with his homework. If he does extracurricular activities I could be there for them. With my degree I could work from home for a clinic, doctor’s office, insurance company, or a hospital. If I was to own my own company I could work for myself. Being financially stable is something that is also important to me.