The main purpose of this article is to discuss the Caux Round Table (CRT) Principles for Responsible Business which has described moral standards for suitable behavior in the workplace. Breaks in company honesty, whether among a small amount or a lot of individuals, compromise the beliefs of workers and for this reason the ability of an organization to provide people’s needs. The main idea of the article is to determine a universal code of ethics in the CRT and talk about the standards for behavior in the workplace. The most important information in this article is the principles themselves and the similarities and/or differences to Jerry White’s Biblical guidelines. The first principle of CRT is to respect stakeholder beyond shareholders
in relation to marketing government regulations plays an important role in ensuring businesses are not presenting deceptive and misleading advertising, price discrimination, implied conditions and false warranties. An example of unethical behaviour through marketing is when a company promotes there business with false and inaccurate advertising which can result in a bad reputation towards the business as well as a loss of market share. An example of lack of contribution towards ensuring the business has kept up to government regulations standards especially through the marketing function of a business can result in penalties imposed by the court as well as public warning notices being issued out by the Australian Competition and Consumer Commission which can result in the creation of bad reputation for a business. Apple is a company that identifies how important ethical behaviour and government regulations are within the business as Apple has successfully acknowledged and ensured to promote and produce ethically in marketing allowing the business to gain a respectful reputation towards their company. As Apple has ethically practiced
How might a company be rewarded or punished for making an ethical or unethical decision? DQ 3: Review the case study “It Seems Right in Theory but Does It Work in Practice?” in Perspectives in Business Ethics. How is ethical theory applied in practice? DQ 4: Review the case study “Where and Why Did Business Ethicists Go Wrong? The Case of Dow Corning Corporation’ in Perspectives in Business ethics.
When it comes to organizational culture affects the way workers respond and react when positioned in ethical problems Organization’s culture can disclose the unwritten ethical standards that guide workers in their decision-making. Some companies can prevent unsafe ethical behavior by changing their organizational culture. Organizational culture is the study of the attitudes, beliefs and psychology within an organization. It not only includes how workers act together, but also how they connect with others outside of the organization. Ethical standards are the code of conduct required by the organization for workers to follow.
Explain the role of ethics and social responsibility in developing a strategic plan while considering stakeholder needs and agendas. Ethics and social responsibility of a business effects wide groups of stakeholders. Stakeholders that include employees, investors, shareholders, suppliers and customers will be influenced by the formulation of strategic plan. The ethical responsibility of the business reaches beyond the responsibilities to stakeholders, it also impact the community and many downstream industries that may be affected by the plan. Ethical considerations must be given by managers as to how the strategic plan will influence the stakeholders.
One of the main concerns in any motivational program is ethical issues. Motivational practices can have negative impact on work ethics and increase unethical behaviors in the workplace. Ethics in workplace Employees have to do their jobs in an ethical manner. There is no universal definition for ethics, however, De George has stated that :Ethics is a systematic attempt to make sense of our individual and social moral experience, in such a way as to determine rules that ought to govern human conduct, the values worth pursuing, and the character traits deserving development in life (De George, 2006, p.19-20). Business ethics is the guiding principles on what is the “right” or appropriate way to behave in a situation (Jones & George, 2008).
The demographic makeup of leaders differs from organization to organization which reflects in policies and procedures differing and resulting in no concrete principles for all organizations to follow (Hellriegel & Slocum, 2011). If no organizational policies and procedures were in place, the organization would be susceptible to major problems which could undermine their profits or bottom line. By having these organizational policies and procedures in place, employees are aware of the significant consequences that can result if unethical activity occurs, which can include or lead up to termination of employment. Also, these policies and procedures lay the groundwork for defense against frivolous lawsuits set off by employees who have acted
Business Code of Ethics Individuals have a personal code of ethics built on their personal experiences, environment, and economic background. For an organization to allow employees to run rampant with only their personal code of ethics to guide them, could mean chaos and ultimately destruction. While a personal code of ethics guides an individual, a business code of ethics, also known as an ethics code, guides its employees and management on how the organization expects behavior and business to be conducted. When organizations develop their business code of ethics, they should concentrate on the mission, vision, and values of the organization to ensure alignment. If the code of ethics is not in alignment with the code of ethics, then there is a lack of consistency at the core of the business.
If some public policy makers can make decisions that do not benefit the public as a whole but benefit their personal capitalist goals, their decision making is unethical. Taxpayers must unite to elect policy makers who follow the social enterprise model. This model produces goods and services for the market, but manages its operations and redirects its surpluses in pursuit of social and environmental goals. , By definition, ethics is the process of using reason, guided by moral standards or personal values, to make decisions regarding right- and wrong-doing in one’s professional and personal life, and taking responsibility for those decisions (Cropf). Given this definition of ethics, we would assume that our public officials understand their fiduciary responsibility to create and administer public policy that will benefit of society as a whole.
In today’s era of economic relations business ethics plays a vital role. It is of very importance at all levels of business, corporate, state or international. The questions of a firm’s community responsibility and business ethics are engrossing business more and more - both domestically and internationally (Sims 2006). This trend is highlighted by disgraceful cases illustrated by violating rules of ethical behavior. The rules and regulations of ethics and behavior are affected by the basic values of the goals of company with in the community.