Business operates within a society, therefore any action and decision made by the business should be made considering the impact of economic and social values. Stakeholder approach means better management and a more socially responsible behavior by the firm. The stakeholders approach sees individuals in a business acts altruistically, it is interrelated though independent for self creation and community creation, stakeholders approach addresses both collective and ethical theories, for a collective social demand and the right thing to achieve a good society. Mitchel, Agle and Wood (1997) emphasized on the interests of the stakeholders, Freeman and Phillips (2002) explained the fiduciary duties towards stakeholders. Jeremy Moon (2004) defines CSR as a combination of corporate citizenship, sustainable business and environmental responsibility; it is accountable to social, environmental and ethical issues both in term of corporate and the national environment.
Ethical leadership is related to employee job satisfaction by impacting a positive influence on employee performance (Resick et al., 2011). The ethical leadership also found to increase the intrinsic motivation and job responses (Piccolo, et al., 2010). The willingness of the employee to report any concern and problem also depends on the organization culture and leadership behavior (Brown et al., 2005). It is also studied that a leader with strong ethical traits can affect positively to task significance and autonomy of the employee job (Ruiz, Ruiz & Martinez, 2011). According to them, the followers have willingly perceived the good traits of their leaders and thus good moral, values are practiced in an organization that can shape the overall
Here I discuss whether business professionals may perform actions otherwise considered morally wrong. This requires for their role to come with special moral permissions. I approach this problem by investigating how role morality relates to ordinary morality and whether conflicts between the two arise for special permissions to try to resolve. I shall argue to the contrary: that there is no distinction between role and ordinary morality by attacking the various proposed justifications for role moral permissions. I will then conclude that it will be wrong for the business professional to do on their client’s behalf what is wrong of the clients to do themselves.
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.
By this thought, Norman Chase Gillespie (133) decried the normative and relativistic understanding of ethics in business in the contemporary times; uninfluenced by morality. The idea boils down to this: If everyone in business behaves in a certain way, that’s the rule of the game; thus, the current ethical standard to follow. I chose this quote because it provides a realistic view in certain areas of the contemporary business environment. The idea from Carr operates under a
In addition to that, one should see culture differences as an opportunity and advantage instead of threat and disadvantage. Although culture differences have brought challenges to multinational companies, they have also brought business opportunities. The company just have to use it right. Second, having a correct attitude of the existence of cross-cultural. The manager should realize that there is no good or bad in a corporate culture, there are simply differences.
INTRODUCTION Ethics and professionalism are the distinctive differentiation between a good business and a great business. It can create a great competitive advantage and a firm and loyal customer basis which is the obvious objective for all entities. Understanding and acknowledging these concepts can lead to a successful and profitable organization. Professionalism however is the way in which people act or behave when taking part in a particular job. Professional codes are put in place to ensure that employees within the business are acting and behaving in a particular manner.
The concept “Transformational leadership” was first introduced by James MacGregor Burns who defined this as a situation when “leaders and followers make each other to advance to a higher level of moral and motivation”. Transformational leaders concentrate on motivation, collaboration and team-building, and are aimed to take the performance of the company to the next level. They introduce clearly stated goals and encourage employees to work productively and with a great enthusiasm. Transformational leaders are capable of creating a beneficial and synergistic environment which is vital for a thriving business. Synergy shows that
“Etiquette is a set of unwritten rules that apply to social situations, professional workplaces and relationships. In the business world, good business etiquette means that you act professionally and exercise proper manners when engaging with others in your profession.” (Sheahan, 2017) First of all, I believe that Business etiquette is important in the career management context because it builds a healthy relationship between employee and the business. As we all know, first impressions are very important. Especially when it concerns an acquaintance of professional interest. The way you interact with your superiors and fellow workers says a lot about your personality and level of education.
Survival and Existence of a Company depends upon how responsible a Company is towards the Welfare of the Society. More active a Company is, it is easier for them to build a healthy Brand Image in the eyes of customers which leads to working towards building Brand Equity. Different concerns have different definitions of Corporate Social Responsibility (CSR) like, “The continuing commitment by business to behave ethically and endow to economic development while improving the quality of life of the workforce and their families as well as the local community and society at large.” – World Business council for sustainable Development. “The clear definition of Corporate Social Responsibility is that community is not just another stakeholder in our business but the very purpose of our existence,” – Jamshedji Tata. Greater number of the private companies says that they grasp Corporate Social Responsibility (CSR) not only because it reinforces their Brand, but also it is the right thing to do.