Kant says that people in business should act out of duty alone, not self-interest or desire to earn huge amounts of money. For example motivating bankers through huge bonuses would be wrong. Kant would also apply the categorical imperative, to derive the duty of a businessman. However, whether Kantian ethics is the best approach in comparison to theories such as utilitarianism is debatable. One issue surrounding business is the relationship of the business to the consumers.
The stress of the audit partner is tremendous and choosing that profession is one that I would prefer not to undertake. The anxiety and pressure to certify that a company’s financial records are in good standing can be daunting. 3.) Independent auditors are sometimes perceived as the “necessary evil” by corporate executives because of the possibility of exposing corruption. To change this point of view an auditor can try to explain their intent to educate and improve the company’s policies, which can in turn lower costs.
Business owners can choose from one of several business options that the Internal Revenue Service’s offer in regards to tax (nbea.org, 2007). Antitrust law is to encourage corporate competition by restricting anti-competitive behavior. An example is a monopolization and, agreeing with a competitor on product price fixing. The antitrust laws require that each company establish prices and other terms on its own, without agreeing with a competitor. The government can stop businesses from merging or force businesses to divide into different companies to encourage competition (nbea.org,
Ethical considerations must be given by managers as to how the strategic plan will influence the stakeholders. The business organization’s management follows the mainstream behaviors of the society to justify their decisions on choosing their role as being ethically and socially responsible business. Many businesses in a depressed economy have to lay off their employees and close plants, these decisions are difficult to carry out because socially, it will cause hardships for employees or the community. A good example of being ethical and socially responsible business when encountering this situation is when Cisco Systems decided to lay off 6,000 full-time employees, that it acted ethically in providing a unique severance package where these employees it who agreed to work for a local nonprofit organization for a year would receive one-third of their salaries plus benefits and stock options and be the first to be rehired (Wheelen & Hunger, 2010). When investors or shareholders are demanding the business to produce profit, managers must consider how to devise steps for transparency in their strategic plans to report factual business dealings.
Political competence is what can really make the CC part of it shine and in turn CC will make political competence shine. Political competence is one of the skills necessary to apply good cooperate citizenship. Both are related to ethics. Whereas good corporate citizenship is about an organization acting ethically toward society as a whole, political competence is one of the necessary skill required to apply good cooperate citizenship, which is a number of related skills. Good CC, for example, a company CEO of a HCO defines good corporate citizenship as meeting the growth and demands placed on health companies by society in an economically, environmentally and socially responsible manner (“The Power to Change: Mobilizing board leadership to deliver sustainable value to markets and society”, 2001).
Hugh McBride will address who the company’s stakeholders are, define the end-state vision, identify and evaluate alternatives, identify and access the risk of the alternatives, recommend optional solutions, create and implement solutions, and to access the outcomes. Beltway Investments are McBride Financial Services major investor. There are some that anticipate for the company to be run by implementing corporate governance. The company’s CEO has decided not to implement this option. The new CEO would rather operate the company without interference of the “money man.” Even though, this maybe a gamble due to corrupt the thinking that would affect Beltway’s public credit.
ALL WK 1, DQ’s: WK 1, DQ 1: What is a business’s obligation to build an ethical culture and balance its desire for profit with ethical responsibilities to employees, customers, society, and the environment? Ethics is different from one person to the next, so it is imperative that business clearly define the norm for staff members and management. The decisions organizations make influence more than business partners, affiliates, culture, and others. It is important for organizations center of attention on maximizing shareholder revenue. Therefore, maximizing profit without causing destruction to the business culture can be a balancing act for most organizations.
Corporate Social Responsibility & The Law Individual Reflection Report With this journal I will reflect on my experience in processing the corporate social responsibility (CSR) concepts, why I feel CSR concepts are important and whether further action is required to ensure its continued importance. I found during the course that over the past decades CSR, and its effect on an organisation`s success has been the subject of much academic debate and criticism. Some people argue that CSR distracts from main purpose of business which is to make money. But, others consider that CSR does not reduce profit, it supports to gain financial improvements by strengthening organisation`s social responsibility. This reflective journal argues that Corporate Social Responsibility (CSR) is an important factor to achieve successful performance within organisation and it is also similar responsibility being financially successful.
CREATING SHARED VALUE Is CSV an attempt to legitimize bad business practices? According to the article “Contesting the Value of creating shared value”, in Michael Porter point of view, “CSV compliances with the law and ethical standards, as well as mitigating any harm caused by the business”. In fact, there is a viscous circle between business and society and companies have being seen as creating profits at the expense of the community, and not creating profits that automatically benefits the community. Because of that, the government has increasingly perceived business as a problem, as a source of bad practices in society and starts to regulate, to control the tax, so political leaders are unable to pursue business in friendly public policies because the political environment almost forced them to be tuff the business despite the fact that business and society need each other. There are many things that company can do that don’t involve the trade-off, and that’s what company should focus on.
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.