This essay explores the rationale behind selecting business ethics as contemporary management topic. The study has selected business ethics in order to continue further analysis. Business ethics has emerged as an important management issue for companies in recent time…
The study has selected business ethics in order to understand following learning outcomes:
Many companies (read Nortel, Enron, Layman Brothers and others) have suffered the ill effect of poor business ethics in last two decades hence discussing contemporary issues related to business ethics can help the author to gain knowledge about organizational sustainability.
Business helps the organization to build sustainable representation in front of their stakeholders. Unethical business practice creates a negative impact in the mind of both shareholders and stakeholders. In many cases, it has been observed that government of a particular country takes legal action against organizations practicing unethical activities such as bankruptcy, fraud, misrepresentation of financial asset or fraud. Legal action against unethical organizations not only perturbs sustainability of them but negatively impacts shareholder’s interest. Studying business ethics will help the author to understand the importance of organizational sustainability in terms of financial perspective.
Many companies of USA have understood the importance of business ethics hence they have created ethical assistance lines for stakeholders to report the ethical concern about the business practice to them. The following diagram will show an increase of concern related business ethics in recent times.
There is a vast gap between ethics and self-interest in the business practice. Many business executives emphasize on self-interest in order to fulfill personal prosperity instead of doing business for the betterment of society. ...
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1.b Monopoly In a Monopoly market, the number of seller is one, and they produce unique goods having no competitors in the market and in this type of market the entry for the other parties or sellers is totally restricted (Velasquez, G.M., “Business Ethics: Concepts and Cases”: 167).
To begin with, the business environment has seen progress made in different quarters for a long time now. The manufacturing and non-manufacturing sectors have contributed in a positive fashion as concerns to the development of the business activities, tasks and processes on a continuous basis (Solomon, 1994).
According to the present day context, it can be observed that the global organizations significantly implement various strategies with the intention to gain incessant developments in relation to its various functions with due consideration to its organizational norms, structures as well as principles in the global context.
Discrimination is forbidden by the Equal Employment Opportunities Commission (EEOC), the Age Discrimination in Employment Act (ADEA), and the Americans with Disabilities Act (ADA). These employment laws have led to considerable litigation against companies for failing to comply with their language.
Contemporary Business Topic Table of Contents Table of Contents 2 Rationale behind Selecting Business Ethics as Contemporary Management Topic 4 Business Ethics 6 Objective of Business Ethics 6 Importance of Business Ethics in Business Environment 6 Theoratical Pespective 7 Descriptive Business Ethics 7 Normative Business Ethics 7 Impact of Business Ethics 7 Business 7 Social 8 Economic 9 Legal 10 Ethical 11 Immoral Management 11 Amoral Management 11 Philanthropic 11 Conclusion 12 Works Cited 13 Contemporary Management Topic Contemporary management issues can be understood from the standpoint of business ethics and learning organization theory.
It is a corporation with many subsidiaries in different countries across the world. Arguably, this company serves more than 2.5 million organizations and 26 million residents in Canada and the United States. The company recycles the waste products and also uses it to generate energy (Waste Management 1).
If the issues are true and valid, then I would move to the next step of approaching the management and informing them about the issue at hand. From that point, we can try to negotiate a way that will be most viable in dealing with the situation. The relevant pressure includes the fact that the item of discussion is the main income earner for the company.
Therefore, before doing anything that might be beneficial to you, one must also consider if the act will benefit others also or infringes others’ rights. Therefore, according to the product defect information, as a new employee in this company,
the need to incorporate a more comprehensive ethics training program for organizations that are committed to adhering to ethical, moral and legal standards of operating their businesses. As disclosed, Bucaro (2012) enumerated three minimum requirements that an ethics training