A company’s leadership is also involved training to handle the unethical dilemmas. An environment that practices ethical leadership, must have written codes of ethics on which an organization’s culture get to develop. Ethical compliances are also involved in the development of corporate social responsibility. Recommendations Although L’Oreal is ranked as one of the top ethical organization, there is always a placed to improvement. Here are some recommendations for the company that can improve the ethical leadership practice in the company.
Explain the FAIR approach to evaluating ethical business communications Student Answer: Fair Test if Ethical Communication helps examine how well you have provided the facts; how well you have granted access to your motives, reasoning, and information; how well you have examined impacts on stakeholders; and how well you have shown respect. Cardon (2013). Socially responsible business practices aim to benefit not only the owners of the company but the community and the natural environment in which the business operates. In theory, socially responsible business practices should be a market advantage, because many consumers would prefer to do business with companies they consider ethical. However, consumers often do not have
New Belgium Brewing’s (NBB) competitive advantage of social responsibility is the most important and the cornerstone of the company’s strategic focus. (Ferrell and Hartline, 2014, p. 359). In other terms, corporate social responsibility is a major competitive advantage of NBB. Corporate social responsibility (CSR) comprises business practices that are intended to improve the well-being of society (Korschun, Bhattacharya, and Swain, 2014). New Belgium’s social responsibilities provide the company serious competitive advantage because consumers have the desire to believe in and have positive feelings about the products they spend their money on (p. 359).
Whole Foods participates and believes in ethical practices that are very precise and knowledgeable about their outcomes. They are aware of these things through knowledge and the internal and external environment. Whole Foods also supports their community through donations and charitable events. Whole Foods marketing and branding of the company is very eye-catching. Whole Foods brands their employees to give excellent customer service and meaningful results when helping consumers (McCann, L. 2014).
386). When company earns positive impression for its practices, it is expected that it will not only gain more profit, but also regular and even loyal customers. Importance of Code of Ethics from an Employer’s Standpoint From the employer’s standpoint, code of ethics is vital because defines the relationship of employees to the organization itself, and it also affects the level of commitment of the employees as they perform their duties as a help in achieving the company's goals (Guber, 2011, p. 5). Importance of Code of Ethics from an Employee’s
In conclusion, the authors of, “A Stitch in Time,”and , “ Structured Procrastination,” give very good arguments of why procrastination is not a positive thing. It gets in the way of completing tasks, leads to misconceptions of what type of person you are, and can spike up your laziness levels. As studies have shown, procrastinating is not a very good thing and nobody should stick to doing it. So, are you a
They not only lead to decrease of the organizations stock value but also to the decrease in profit since investors would no longer interested in investing their money into a corrupted company; as well as in creating damage to its reputation. Further, they have learned lessons on the importance of hiring upstanding employees (which is an external auditor); who will contribute to the improvement of the company instead of lead it to its demise. It also goes to show how imperative it is to maintain good accounting practices and establish efficient accounting systems in the organization (infit Accounting; 2014). The reason that make users trust auditors opinion is that external audit are trusted to express an opinion on the fair presentation by using the terms of an acceptable financial reporting framework (Like IFRS or SME’s). (Louse Kretzschamar & Fransprinsloo, 2012:
Importance of Morals in Business Over the past decade there are many examples of why morals are important in a business. Without morals, businesses lack ethical and legal decision making. Morals help combat many different legal problems that hurt businesses in the long-term. Therefore, by a business embracing a culture of morality it helps them succeed into the future. Morals are an important part of all businesses and how they will perform in the future.
Ethics and integrity is essential and played an important role in helping the growth of the business. Behave ethically could contribute to good performance and customers’ satisfaction. This lead maintains and expands the relationship between both parties and indirectly would increase company reputation (Bandsuch, M 2009). According to the Trevino & Nelson (2010), behave in ethics and integrity not only could stronger the relationship with the customers, but also the relationship with the stakeholders. Apart from that, ethics and high integrity could also increase the confidence of customers towards the organization (Trevino & Nelson, 2010).
For the sense of business according to Joseph (2013), ethics are constructed and decided by each business and underpins decision that an employee makes. When it comes to the business’ environment, a well-constructed ethics is a key for a considerate and responsible decision making in a business (Bennett, 2014). Business Ethics is very important inside the company, it will show the moral standards that a company or business have whether it is right or wrong and good or bad. Every etiquette that a business has, will reflect on what kind of company or business you are. Thus, every company or business must show the proper and right etiquettes it should have, so that the customers will have that kind of trust and a good feedback on your company.
Employees observes the action and behaviors of their leaders and hence follow them as an example. For employees to uphold high integrity and good communication skills, their leaders are supposed to have these skills. Therefore, as CEO it is important to ensure all employees regardless of their position and rank in Chipotle Mexican Grill has to observe and follow code of conduct. The second step is emphasizing code of conduct to employees especially in their specialization(Aras & Crowther, 2012). It is important to ensure the employees understand code of ethics that are related to their fields of specialization and where they are operating.
It is important for a company to take into consideration and be responsible to the needs of all organization’s employees and other economic agents because it can give serious impact for the future of an organization. The organizations also should run their business ethically in order to earn the respect of others and can be a trustworthy. Any organizations who want to win trust are by providing transparent information, making no secret of their strategies, and being accessible to the wishes