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.
The ethical theory I would’ve chosen that Famous Brands follows is the utilitarian based theory as such a large company needs to make calculated decisions when having so many businesses under them making sure each business is growing successfully so that they therefore receive a higher profit. The second article my educator had provided me with is Article 2 and this article speaks on the decrease of unethical behavior in the private sector. The article is about surveys that were provided and filled out by workers and t has shown that there hadn’t been a significant shift in the ethical culture of companies even though many ethics in management had been
The virtue theory, which pursues virtuous principles, strategies and actions, can lead companies to understand their values, including mission, purpose, profit potential and other objectives. Virtuous employees tend to perform their roles consistently and competently in the direction of the company's goals. Virtues are the kind of thing you allow someone to take action to appreciate. Business people increase their likelihood of reaching their values and goals when they reach Objectivist virtues. Virtues emphasize the importance of each employee's valuable contribution.
Our country, Malaysia is a developing country and growing towards a better future so do us, as citizens. Economic growth is one of the major factor in developing the country as a survey has proven that business is one of sector contributes to the development of the economy wealth. Unfortunately, business moral examinations are an issue which is progressively being given legitimate consideration in the business world today. Business ethics is being downgraded by the society but even there are still some who supports and encourages ethical in business studies. It is because business ethics and studies involve their own way of thinking and creativity.
The Root Cause(s) of the problem The problem that the company is losing their loyal customers and their product is getting returned is either due to the quality of their product or due to their dysfunctional delivery channels. With the increase in the competition in the market, customers have more choice of buying the same product with better quality and getting it delivered in a timely manner. From the case, we can assume timely delivery and quality product are two of the most important criteria for their customers. Causal Togs has been struggling on both of these fronts which have allowed their competition to swoop in and has resulted in the company to lose its loyal customers. The organisation shows resistance to change and many workers
The level of probity and integrity needs to increase inside a company, to stimulate its employees to do what is morally right and avoid misconduct. Entrepreneurs have to keep in mind that, costumers have more respect and credibility in companies that have transparency and ethical corporate behavior. Having codes of ethics and codes of conduct in a company; is also a good way to reinforce how everyone should behave and this can help
Ethics act as the set standard that measure how good or bad an action is. There is a direct correlation between ethics and leadership because ethics looks into the identity of the leader and their function. Any discussion on ethics and leadership contains two main aspects that should be taken into consideration; the personality and character of leaders and the behaviour and actions of leaders. Leaders are expected to motivate and persuade employees to achieve common goals however, in doing so this must treat their employees with respect and understand that the workforce is a composition of multiple personalities unique to each individual. Effective and ethical leaders operate
Good governance facilitates efficient, effective and entrepreneurial management that can deliver stakeholders value over the longer term. It is about commitment to values and ethical business conduct. It is a set of laws, regulations, processes and customs affecting the way a company is directed, administrated, controlled or managed. Good corporate governance underpins the success and integrity of the organizations, institutions and markets. It is one of the essential pillar for building efficient and sustainable environment.
Based on what we have discussed, we believe that companies often struggle to deal with the challenge of enhancing productivity of the work in order to maximize the profits of their organizations. The maximization of profits can be seen on how effectively they manage their business operations whereby they attract highly trained employees as well as retaining skilled employees. Best company has best people because they are surrounded by ‘winners’. In order to create ‘winners’, each organization should have the best ways to motivate their employees because organizational success is not achievable where employees are not motivated enough to fulfill their work
employees or workers play a very crucial role in the success of a business. Therefore, business must use business ethics while dealing with the employees. The business must give them proper wages and salaries and provide them with better working conditions. There must be good relations between employer and employees. The employees must also be given proper welfare facilities.