Kantian ethics is the best approach to the issues surrounding business ethics There are a number of issues which are created by business activity. Firstly, how are businesses relationships with their consumers? Secondly, how businesses relate to the environment, for example with pollution, or sustainability, or treatment of waste. Another is whether businesses follow moral principles like honesty in their dealings. Kant says that people in business should act out of duty alone, not self-interest or desire to earn huge amounts of money.
Scottish Power – Good Ethics Is Good Business The world has really changed, particularly the way business is conducted globally, with new economic and new technologies shaping the globalization environment. One of the main reasons for global success is found is due to cultural diversity. Companies are constantly faced with dilemmas, as in international cultures versus corporate cultures, the bottom line being social and environmental impacts. It is imperative that companies must first address the facts that constrain business values in order to be successful. The Director of IBE, Philippa Foster Black, stated: "Not only is ethical behavior in business life the right thing to do in principle, we have shown that it pays off in financial returns.” (Foster-Black, P. 2006) Companies are continually presented with challenges and opportunities formed by concerns about their environmental and social impact.
QBT Task 4 – Final Version 2 Robb Farrell Western Governors University Student ID# 000242903 THE REAL BOTTOM-LINE OF TODAY’S BUSINESS Research reveals that companies that focus on adhering to ethical standards and investing in socially responsible practices to the benefit of all stakeholders have a significant business advantage it today’s market place. Socially and ethically conscious originations have compelling business results in related to employee loyalty, company profits and consumer affinity. There was a time in our capitalist society that an organization’s number one priority and predominant focus was profits and shareholder interest. Indeed things have and are changing. In today’s market climate, companies have had to increase their consciousness as to what really matters.
Competitors – they will be only interested if the Business means “ASDA” is not doing so well as this will mean more business for them , because they are offering the same services within the same area. They can use the financial statement of “ASDA” as a “bench mark” for their own performance. Owners- they are the most important stakeholders, because they have established the business and they devoted a lot of their time for the company success. They are the stakeholders, who have the higher interest for the business to raise on profit and value. Employees and Managers- their interest is that the company provides them with decent live hood.
For example, common law for business balance prohibits paying a little and getting a lot. I will describe how political, social factors impact upon Tesco and Bank of China. Political factors of Tesco Tesco have political factors that affect their business activities. For example, political stability for the national economy in this case the government such as the government make decisions in the best interests of the people and should support businesses. The advantages of the government providing support to Tesco will economically benefit the growth of Tesco as well as the country.
Their interest is to see the profit they make increasing and the value that the business has rising. Like other stakeholders they want to business to have a good reputation and to grow. Pressure groups the business on making decisions which help defend the environment e.g. Green peace and friends of the world. Environment concerns are important for pressure groups so they try brought onto the business and also protest against the businesses.
It would encourage their regardless of the profit of the company and inevitably bring AIG into downfall. The ethical implications of the federal government bailing out companies such as AIG is not to keep it from bankruptcy, but to prevent the bankruptcies of many other global financial institutions that depended on AIG as counterparty on collateralized debt obligations. If AIG had been allowed to fail, it is possible that the financial meltdown which occurred during 2008 to 2009 would have been worse. It was a global rescue consciousness. Good corporate culture should have the ability to increase cohesion within the company, make executives and employees form the unified goal to promote development of the company.
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.
Alcoa put safety first which is a great quality to have in any business. In my opinion Alcoa used the integrity approach as far as the ethical criterion. To use an integrity approach is the best method in my opinion because to have integrity is having wonderful core values in my opinion. The top management enforced the Alcoa program. The Alcoa
The American Red Cross Ethics and Advocacy for Human Resource Professionals- HRM 522 April 22, 2012 Determine the impact of this event on ARC’s “benefits of business ethics” (employee commitment, investor loyalty, customer satisfaction, and bottom line). Business ethics is essential to the success of an organization. In fact, according to Ferrell, Ferrell, & Fraedrich (2010), more and more companies are becoming cognizant about business ethics by trying to improve their decision making process so that their financial portfolios will not be affected. Stakeholders play a sufficient role in ensuring that organizations like the American Red Cross (ARC) are ethical because they know that the judgment a company makes can affect how