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Turnitin Assignment Name Individual Written Report (4000 words) due on 9 June 3pm Criteria to...

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Turnitin Assignment Name

Individual Written Report (4000 words) due on 9 June 3pm

Criteria to grade quality

Assessment length

Question

“Ethics is just one of those things that corporations need to consider when making business decisions. Whilst there are many aspects to consider when analyzing and understanding the intersection between what is legal and what is ethical or moral, an overriding consideration for any corporation must be the level of profits they are making and the impact they are having on key stakeholders. In the majority of cases these stakeholders are usually shareholders. They have expectations regarding governance and accountability. If these expectations are not met, then leadership has failed”

Consider the above quote and critically evaluate its key messages. Your critical analyses should include the following:

· The role of ethics in the business decision-making processes

· The relative positioning between what is legal and what is ethical in decision-making

· The apparent conflict between making profit and acting ethically

· The challenges of stakeholder requirements including who these stakeholders are and the impact they have on how corporations may act

· How governance frameworks impact ethical decision making, and

· How leadership success or failure may be determined in the context of ethical decision-making

You must provide a conclusion which outlines your views regarding the above quote and your arguments provided in the body of your report that support this conclusion.

As the Written Report represents 30% of the total marks in this Unit, marks are allocated according to the following inclusions:

• A clearly constructed Executive Summary of no more than 250 words (5%)

• A clearly presented Introduction which outlines the student’s approach to this Report (5%)

• Evidence of the following elements (50% of total):

o Clear understanding of the key issues raised in the statement

o Discussion of the implications of the statement on business activity, with

relevant examples

o A critique of the statement, including sound evidence from appropriately

researched literature to support the analysis

• A well-structured Conclusion that supports the informed opinion that is provided as to the validity or otherwise of the statement (10%)

• Good quality references which reflect a suitable depth of research, have been applied appropriately, and used correctly in terms of in-text application (20%), and

• An appropriate writing style, that is, clear, well presented and well-structured arguments, in grammatically correct language, with no spelling errors.

A written report of no more than 4,000 words (excluding References)

References at least 8-10

Answered Same Day Jun 02, 2021

Solution

Arunavo answered on Jun 08 2021
127 Votes
BUSINESS ETHICS
CASE: BUSINESS ETHICS IN AN ORGANIZATION
Executive Summary
Ethics can be defined as the moral and ethical beliefs that one has or that is prevailed in the organization, which guides or directs the values, behaviors and the decisions of that business organization. The report will discuss about the role of ethics in making business decision, the conflict between earning profit and at the same time, remaining ethical. It will also discuss the challenges of the stakeholders and the way; they affect the organization, the manner, in which the governance framework lay impact on the ethical decision-making and the way; the success and failure of the ethical decision-making is associated with the success and failure of the organizational operation. In this report, all these above points will help in understanding the ethical aspect of the organization.
Table of Contents
Executive Summary    2
Introduction    4
Role of Ethics in Business Decision Making Processes    4
Relative Positioning Between Legal and Ethical Aspects in Decision Making    5
Apparent Conflict between Making Profits and Acting Ethically    7
Stakeholder Analysis and their Impact on the Business Operations    8
Impact of Governance Framework in Ethical Decision Making    10
Determining Success and Failure of Leadership in the Context of Ethical Decision Making    11
Conclusion    12
References    14
Introduction
Ethics is one of the most important parts of the business organization. The ethical consideration ensures that either the business practices are being followed by considering what is good or what is bad for the organization, or for the environment of the place, they are operating. Considering the ethical values will ensure that the organization runs smoothly and that to have a sustainability in their existence. The ethical consideration can be defined as the manner, in which the laws are being followed, taking care of the rights and responsibilities of the workers of the organization, taking care of the environmental aspect, taking care of the development and benefits of the local community and preserving and respecting the culture and beliefs of that community. In this report, the discussion will be made with respect to the ethical consideration an organization must follow and practice as to ensure their proper decision-making, their position between the legal and ethical aspect, the requirements as well as the considerations of the stakeholders. The discussion will be made on the ethical aspect in profit earning and finally the manner, in which ethical leadership is being followed in the organization.
Role of Ethics in Business Decision Making Processes
Every organization works for any kind of purpose. The purpose lies in providing goods or services to the people or to the society as to provide them some benefits and making their life better, however taking care of the organizational benefit or profit. Skinner et al. (2016) have added that making no harm to others and providing or doing something good for them is the major goals of any organization. Based on the ethical consideration the decision making process of the organization also takes place. It is the moral philosophy of the organization to understand the fundamental values, both personal and professional values as how to facilitate effectively the business action that reflects the values of the organization. Every organization ensures that the ethical practices and the behavior are followed in the organization. Avdeev, Nassiripour and Wong (2019) have further discussed that with respect to any kind of decision making in the organization the ethical consideration should be made.
One has always to think before taking any kind of decision is that weather the decision taken is right or wrong. The ethical obligation that will drive the organization to take decision based on that are regarding the employees, the suppliers associated with the company, the customers of the company and the society where they are operating. It is concerned with the situation when the obligations are inconsistent with the economic and strategic choices, which are in conflict of each other. Ethical behavior is a conduct that is being followed by an individual’s personal beliefs or the shared organizational values. Therefore the decision taken by that individual person on behalf of the organization, it represents the organizational ethics in the society. Any business organization is dependent on the reputation as it is important for them to have clear and consistent expectations regarding the ethical standards that will guide the employee of the organization. Many of the employees work on their individual beliefs and their decision is also being influenced by their beliefs and values, however their decision-making should always align with the values and objectives of the organization.
Burton et al. (2017) have further discussed that the sometimes the individual perception or the viewpoints can affect the decision taken by the person and that represents the decision of the organization can be harmful. Therefore, the decision in ethical manner should be followed by certain process. There must be commitment while taking any decision. The desire to do anything right and that should be beneficial on a larger scale should be taken at any cost. Regardless of any kind of obstacles being faced, the decision should be taken in a right manner. Secondly, the decision should be made with full consciousness. The awareness regarding the manner to act in a consistent manner and to apply any kind of moral convictions must be their regarding the behavior. Lastly, there must be competency in the decision-making.
There should be ability to collect the information and evaluate them in a proper manner to develop the alternatives and the ability to see the potential risks and the consequences that can be faced through a decision. Bain and Kongnyuy (2018) have added that the decision taken must have to be both ethical and effective. The ethical decision generates the trust and sustains it along with that it demonstrates respect, responsibilities, fairness and caring. These are the decisions, which provide a foundation for the behavioral aspects that a person must have. Further the decision need to be effective, as that will help the purpose of taking decision to be fulfilled. This will help in understanding and prioritizing the immediate, short term and long-term goals that need to be accomplished. These are the ethical consideration, which needs to be followed while taking any decision.
Relative Positioning Between Legal and Ethical Aspects in Decision Making
In an organization there always need to take a complex decision and that is related to the organizational policies and the objectives. Herlihy and Turner (2018) have further added that the in a workplace the right and wrong of doing anything is dependent on the ethical and legal aspect of the work. Every activity of the organization is bound by the legal and the ethical aspect; however, they are bound by the moral codes of conduct, which is not being enforced onto anyone. The decision taken will however will be the same for the either of the perspective. However, the legal perspective of any decision will not always be equated with the ethical perspective of the decision. Robinson (2017) has further added that the ethical principles are different from the value and the ethics is considered as a more permanent, universal and unchanging whereas the values do change as they are subjected to the personal aspect and they change with the time.
These principles or the law can be considered as the approaches that can help in examining the choices and options, which will help in before making decision or helping in any ethical dilemma. With the familiarity with these principles will in taking the moral decision process, while taking care of the principles and this will be beneficial in taking any kind of organizational decision. Bennett et al. (2017) have further discussed that the utilitarianism principle will basically hold that any action taken which is morally right and that is
inging good for a large number of people. It has been further said that the action is morally right if the net benefits over the cost that are the greatest for all the affected with respect to the net benefits received from the choices. There are some limitation with the principle is that this never considers any individual and there is no agreement on the definition that is related of good for all concerned. This is one of the most widely...
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