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.
Shareholders expect a certain return on their investment, so knowing how businesses plan to handle any increase will be important to them. Business executives are stakeholders for the same reasons as shareholders. They are going to care about the affect on profits, and whether or not the shareholders are satisfied. How minimum wage affects their business’s success in non-financial ways will also be a concern. Executives must consider how the treatment of and benefits for their employees affects society’s view of them.
The millennials hurd together, but the issue is that a cohort of clueless and ignorant people will not learn anything new from each other. A business undergoes the process of converting to an environment that does not only teach millennials how to be their best, but how to look back on past generations and learn from their mistakes. The millennials need more exposure to more fulfilling and old fashioned times, so that they can fix themselves and work more efficiently in a corporate
A reward for ethical behavior The ethical behavior must be recognized and appreciated and at the time it must be awarded. So it can promote ethics in other employees. Conclusion Ethics in business and in corporate culture has become a critical issue for many companies. There is need to pay more attention to an analysis of unethical behavior in leadership and its relation to corporate culture. Ethical leadership is a growing concept and many large companies are promoting business ethics as their corporate social responsibility.
Two concepts you discussed that this reply will expound upon further are, inventory turnover and maintaining top talent. From the example of Target alone we can see that it is not feasible to look at one metric or ratio alone. One must asses several metrics in order to get a clear picture of the financial stability of a given organization. According to Hançerlioğulları, Şen,& Aktunç (2016), “managing inventories is at the core of operational performance in many industries” (p. 681). Though Targets inventory turnover is low which may be thought to be a downfall of the corporation, Target CEO justifies the actions Target takes and use specific strategy in order to ensure the best use of space and products in order to keep cost lows and shelves
Three moral philosophies that impact Verizon’s ethical business decision making are teleology, utilitarianism, and egoism. Teleology is important because when making decisions, it is imperative that you think about the repercussions that may happen. It is even more important when making decisions for a large company like this. You will have to consider how this will affect the stakeholders as well. The consequences of unethical actions will affect their employees and their families.
If the corporation initially had prioritized ethical values and decision-making evaluations at every level of the business, this scandal could have been prevented at least its magnitude. Contracting ethical officers and on-going training would have educated employees on the proper decision making steps. This dilemma safeguarded that Wells Fargo will take a different approach with its management team, ensuring they are trustworthy and promoting the company values, as customer satisfaction and trust is the
Character is an essential ingredient in ethical leadership. It is also important in mangers and CEO’s. According to Uhl-Bien, Schermerhorn and Osborn (2014), “the ethical leadership theory describes that leaders should be role models of appropriate behavior” (p.321). As a leader whether you are a CEO or a manger, you should have certain characteristics whether it is honesty and respectfulness. Managers and CEO’s should have a positive character because they influence others.
And while the company making decisions, the interests of all shareholders must be considered. (3) Considering from opportunity element, the supervision of information disclosure should be improved. For the listed companies, information disclosure is particularly important. SFC has published a series of principles about disclosure rules to ensure effective of disclosure, and the principle is still developing. But how to improve these principles, and made these rules become a completely system, and made the listed companies pay attention to the substance of the information disclosure rather than the form of the information of disclosure, is worth more
Firstly, it can impact at the company level and secondly at the ethical portfolio level. There are several ways through which ethical behaviour/investment of the company could indirectly affect the organizational performance. CHAPTER 4: CONCLUSION • Ethical investment is not only concerned with the investors but the organization as well as to how it invests within the organization for the functioning of various internal activities as well as investment externally. • Ethical investment has an effect on the organizational performance and the brand image of the company. • Not investing much of the time on responsible investment could get the company through in the short run but for long run sustainability of the organization which is on social, financial, ecological and political basis responsible investment is suggestable for the organization.