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.
Businesses without Morals
There is no great example of a business that lack morals than Enron. The employees of Enron were so motivated by greed that they abandoned their morals. The heads of Enron created a corporate environment of competition. Enron achieved this by implementing a policy
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A company that is an excellent company that embraces a corporate culture of morals is Chick-fil-A. Chick-fil-A teaches character education to all their employees to improve their personal morals (Boyles, 2005). This creates an environment of personal morals and companywide ethics. This then creates an environment of service for the customers which consequently creates customer loyalty to Chick-fil-A. This has led is Chick-fil-A to be one of the most successful fast food restaurants in the United States (2005). Therefore, by is Chick-fil-A embracing morals it has led to a successful business unlike Enron that only embrace …show more content…
It focuses on the public business sector of Swaziland for the study. They studied Swaziland as they have had a problem with corruption in that country. Therefore, Swaziland is the perfect country to study the connection between morals and how they combat corruption within a country. The journal article found a strong relationship between a person’s morals and how they treat money in an ethical way (Gbadamosi & Joubert, 2005). Therefore, they suggest that morals play an important role in the combating corruption in a country as when a person has morals that are against corruption they are less likely to participate in fraudulent behavior. Therefore, morals are important to the success of a company as it will help safe guard their assets from
Lloyd Ransford Osei Principles at the Forefront: Chick Fil A’s Decisions and Opinions Liberty University BMAL 530 August 10, 2014 Dr. Jeremy Woo Business decisions and opinions are the essential success of how the operation of accounting and finance flows within a company. In the case of Chick Fil A their executive decisions and opinions constitute to involving a Christian background in their line of work. Chick Fil A has inherited the principles of founder, Truett Cathy, a Southern Baptist.
Costco has built a reputation of being a caring corporation1 with a low cost structure in the discount services sector. Their founder, Jim Sinegal, believed in building a business on strong ethics while offering a wide selection and great value. Costco’s vision is expressed in its code of ethics which contains five key tenets by which the company operates: Obey the law, take care of our members, take care of our employees, respect our suppliers & reward our shareholders.2 With this vision Costco has built the third largest retailor in the United States. By looking closely at the code of ethics it becomes possible to see it has built in strengths and weaknesses.
Title Page Abstract Introduction With over 1300 restaurants located throughout the United States, Chick Fil-A is one of the largest fast food chains, as well as one of the most consent in sales and growth as evident in its historic growth records with positive growth since the opening of its first restaurant in 1943. What has been and continues to remain key to the success of the restaurant chain founded by Truett and Ben Cathy is the values that company was founded on: servant leadership, social responsibility, and belief in God. From its meager beginnings in a restaurant outside Atlanta, Chick-fil-A has become powerhouse in the fast food industry worth an estimated $2 billion.
Businesses should have a code of ethical conduct for the employees of the company to follow to ensure their activities are in compliance with their standards and any laws that need to be followed. There are key areas of the businesses code of conduct that are of significant importance to the business. There are steps the business can take to help ensure their employees follow the code of conduct. There are ways the restaurant can engage in socially responsive activities within the community. Chipotle has become more popular in the recent years and being in the news for being more like a casual restaurant but at the speed of fast food.
After my parents told me about a woman who came to them to talk about something I had done, I realized that being different isn 't necessarily a bad thing. So I am what is termed a TCK, a third-culture kid, which means that I grew up in between two cultures which melded together to form a unique culture of my own. This third culture can make it difficult people who don 't have experience with TCKs to understand me and there have been instances where being a TCK has gotten me into trouble. So we were at Chick-fil-A,
Working at Chick-fil-a, I play the role of captain, mentor, and leader. Although I get paid to interact with guests, it is more important to care for my team. I get to work with and care for the team members every day as they are like family. The best part of working at Chick-fil-a is the interaction between team members and leaders. Many look up to me for guidance and leadership, but they are also my friends.
The book has four important but basic sections comprising the totality of what the author wants to convey: (1) Essence of a Compelling Culture A compelling culture is defined in the book as a combination of people comprising the whole of the organization including: the guest or customer, the team member, the operator or owner, and the staff member. The Culture of Chick-fil-A as defined by Mr. Cathy – a man of faith was to sell chicken, be faithful stewards, have a positive influence on others, and ultimately to glorify God. (2) Building a Team that creates a Competing Culture Mr. Cathy looked at each person and gave attention in an individualistic way. He aspired to hire the best talent and train and mentor that talent, cultivating and fostering loyalty and commitment.
While we often kid about Chick-Fil-A and how perfect the restaurant is, it’s hard to ignore just how glorious their food can be. Chick-Fil-A is top six favorite foods in Texas according to Fox news. Their success rate is very high due to the variety of food. This restaurant specializes in delicious and affordable food for anybody. It is a great restaurant to have a delicious meal for lunch or dinner, or even both without emptying our wallets.
1.) Why did you choose this particular profession, career, company, etc.? I chose Chick fil a for the Code of ethics because chick fil a is a popular fast food restaurant that serves the best quality, and customer service against the big top competitors that have been in the industry for a longer period of time. I do not work for Chick fil a so I thought it would be interesting to learn more about the company since i frequently dine there. 2.)
In this Enron Scandal ,several moral issues and values are being discussed .The moral issues is the misconduct of code of ethics by management level of a corporation , violation of code of professional ,ethical dilemma that faced by a management level when involved own interest . The first moral issues that discussed in Enron Scandal is misconduct code of ethics by management level of a corporation .In this case ,the mastermind of this scandal is the company CEO , Mr .
Fast food companies have demolished competition throughout the last 30 years in the restaurant industry. The practices used to eliminate competition such as using unhealthy food to make a profit have been reported unethical by Americans, but it tends to be desired by the American society. According to the American Franchise Corporation, certified by TrustArc, fast food companies generate $570 billion annually in the United States ("Fast Food Industry Analysis"). These statistics continue to rise as more and more fast food companies become ubiquitous. As a result, fast food companies get richer, while people contract life-altering health effects.
This statement is supported by Bennett (2014) wherein ethics clearly defines what is the right and wrong things and shapes what kind of behavior the business should act on. 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.
This also evident from above discussion that ethical leadership is also crucial in developing the ethical culture within an organization. The employee performance can also incredibly increased by ethical and moral behavior in a workplace that practice good ethics. Finally, the overall performance of an organization in term of its financial outcomes is also benefited from the ethic practice. The case study of L’Oreal also provides a good example of all
Review of Literature Unethical behavior can tarnish a company’s image and reputation. If a company is unethical, they may have to spend additional money to improve their public image, as well as gain back as many customers as possible. The reason I have chosen to use articles that are quite a few years old and that are not so recent is because I feel that they are very good examples of what I am trying to prove in the terms of ethical behaviour within companies and these specific articles relate well to my chosen topic.
The earlier opinion stated that a business cannot be ethical, but this opinion is not used anymore in the modern business. Today business has belief that they must be responsible for social since they live and operate within a social structure. The key factors that make business ethics is important at the quarter of the 20th century are corporate social responsibility, corporate governance, and globalized economy. The culture of an organization, or else we can call it as the philosophy of an organization which is related with ethics have a great relationship with the performance of a business in long and short term. As a business is manage by human being, the people who manage a business