Business ethics could define as the practices of corporation and firms regarding their responsibility and their way to behave as the same as the principles that can applied to individuals’ behavior towards society. The topic sparks flame of conflict between economists Milton Friedman who stands against the topic while on the other side Colin Grant responds to the arguments of Friedman and supports the necessity of ethic in corporations. Friedman’s point of view of business could described as machinery of making money without considering society, but Colin’s point of view is that business is not isolated from society and it is a part of it. Both of the articles show three major points of discussion social responsibility, political interferes and the free-market. Friedman criticizes some of the executives’ speeches about business responsibility, which reflects a wrong image about business and corporations.
The University of Ohio created the Model of Leadership program so they could analyze various measurements ,standards and areas of business management used to interact with supervisors,employees and consumers in various situations. In addition to this, the leadership program also uses diverse business opinions about corporations and employees and how they influence the success of organizations.It gathers the scopes and opinions of corporations to find out the characteristics of competent business leaders. It also compares measurements and areas of the program that analyze partnerships and their relationships between supervisors, employees and consumers. These actions influenced research programs that conducted evaluations on power and influence
Trying to ignore the social responsibilities might stain an organization’s image and reputation. Thus, performing social responsibility is not simply a choice; it is a need of any corporation. In the twenty-first century, businesses are in the bottlenecks where globalization, science and technology advancement and integrated knowledge are taking place in today’s society (Chan, n.d.). To gain a foothold in this economy, image and reputation play an important role to differentiate a company from one another. With good reputation, it helps firms to create competitive advantage in the business environment.
Corporations ensure journalists who inquire too deeply into politics and raise questions about business position in society will not see their stories to the masses and that journalist’s job is to keep corporation happy but reporting issues that are irrelevant. Third, business power undermines the development of aspect of democracy. Fourth, “business power is a threat to democracy because of a new divergence between the economic interests of business
Corporate Cultural Dissonance or Not Dissonance is a condition where what is happening is not in agreement with what is thought to be in a given environment. Commonly referred to as cognitive dissonance; when applied to the behavior witnessed in corporations, it is known as cultural dissonance. At first glance, the fictitious company Finer Bags appears to be suffering from an ethical misalignment. However, an examination of their statements and actions would reveal the two are congruent within the organization. Given the material provided regarding the company, I will present the case that the actions of FinerBags.com is in alignment with their business ethics.
Introduction Corporation is a single unit that is dispersed from its shareholders and it involves a legal individual with their own right. Corporation and Karl Marx link together as corporation illustrates the influence between human beings and the society we living in, meanwhile Marx’s identified his ideology through alienation, labour, revolution and economy which are core features. In this following assignment corporation and Karl Marx ideology will be discussed through comparison, using the points on the corporation and also focusing on alienation. Marx economic basis of and human society and communism will be critically assessed and lastly my view will be elaborated further. Background Marx’s life and work
Introduction The current paper examines the role of Ethics and Social Responsibility of businesses and corporations in marketing strategy. Specifically, the current paper investigates the corporation named Enron, to demonstrate how ethics and social responsibility play a part in the marketing mix and drives new trends on public trust in the marketplace. The paper at hand outlines the external factors that contribute to business ethics such as political and legal environment, consumers and competitive environment and builds an understanding of the dynamic marketplace and how external forces impact marketing activities. About Enron Enron was founded in 1985 as an American based energy supplier and services company based out of Houston, FL. The company was formed as a merger between Houston Natural Gas and InterNorth.
A business’ ethical responsibility clarifies the principles, norms or expectations that have to deal with the employees, consumers or the host community affected by a business’ activity. Carroll expresses the importance for a corporation to adjust to their host community. The actual societal and ethical customs of the given host may in fact go beyond what is at present required by law – making it vital to know that the corporate integrity and ethical conduct may possibly go beyond law and regulations of the given host country (Ibid: 42). In the case of MNCs, this type of situation can happen when conducting business in a country where its legal systems are non-functioning and likely suffers from oppressed regimes and corrupted government officials
So that, international business ethics take center stage as a major concern of the modern era. 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.
Legitimacy theory The legitimacy theory relies upon the notion that there is a “social contract” between an organization and the society in which it operates. Therefore, corporations try to legitimize their corporate actions by engaging in CSR activities to get the approval from society (societal approach) and thus, ensuring their continuing existence. The social contract represents countless expectations that society has about how an organization should conduct its operations. The legitimacy theory stems from the idea that for corporations to continue operating successfully, it must act within the bounds and norms of what society identifies as socially responsible behavior. Legitimacy of a firm is dependent on the maintenance of reciprocal