This unit examines what pressures there are on businesses to behave in an ethical manner. Learning outcomes On completion of this unit you should: 1 Understand the meaning and importance of ethics in the business world 2 Understand the implications of businesses operating ethically 3 Know the social implications of business ethics 4 Understand ethical concerns facing different communities. Context: You have been asked to research and draw up a report explaining business ethics for an organisation that is about to be floated on the stock exchange.
The report will demonstrate an understanding of ethical business behaviour; the implications of it and why it is increasingly seen as such a serious issue for more and more businesses. P1 explain the ethical issues a business needs to consider in its operational activities. •Begin by explaining your own understanding of the term “ethical issues” explaining some of the examples given below. •You must explain how these influence an increasing range of business activities. Operational activities: definitions of business ethics; ethical activities; values of businesses; professional ethics; individual ethical behaviour
Ethical issues: corporate governance; corporate social responsibility; environment; sustainability; human rights; corruption; trading fairly; legal and regulatory compliance; business practices; working conditions; individual ethical responsibilities P2 explain the implications for the business and stakeholders of a business operating ethically. •What does operating ethically mean for the various individuals, groups of people and organisations that have an interest in a business? •What conflicts of interest can arise among stakeholders if a business responds to ethical pressures? How might these influences affect a business’ performance? •Give examples of laws that may have an ethical basis that businesses must comply with. •Explain the implications of these laws on businesses. How has business behaviour been altered by these laws? Give examples to illustrate your point. P3 describe the social implications of business ethics facing a selected business in its different areas of activity. •For this task you will have to select a business to research, (you must agree this with your teacher).
The Essay on Business Practical Application Vs Ethics
Pete Holiday said 'Capitalism needs to function like a game of tug-of-war. Two opposing sides need to continually struggle for dominance, but at no time can either side be permitted to walk away with the rope.' It seems that college is just training for a businessperson to deal with that tug of war. Michael Inciardi, a York College Senior, thought that one of the most important skills he acquired ...
You will have to find indicators of the ethical values of the company. oExplore ethical issues relevant to the company Think about: Areas of activity: ethics in finance, e. g. bribery, executive pay, insider trading, lobbying; ethics in human resource management, e. g. discrimination, worker surveillance; ethics in production, e. g. animal testing, genetically modified (GM) foodstuffs, planned obsolescence; ethics in sales and marketing, e. g. spamming, shills, product placement, green washing; ethics in intellectual property e. g. oftware piracy, counterfeiting, peer-to-peer file sharing. Implications: global, e. g. environment; corporate, e. g. legal and regulatory compliance, policies and practices; individual (employee, consumer).
P4 examine the ethical concerns of the communities in which a selected business operates. •Following on from the previous section you must look at the communities in which your chosen company operates. This could be local, regional, national or global. •Identify any pressure groups that might seek to influence the activities of the company.
The Essay on Business Ethics: Ethical Decision Making And Cases
People must make decisions that are both morally and legally acceptable to the community. In order to make ethical decisions, one must ensure that he behaves in a way that the majority in the society consider good. People should behave ethically without rules and regulations being imposed on them. The society imposes sanctions to those who fail to meet ethical standards and the law punishes anyone ...
Issues: corporate social responsibility; globalisation; cultural imperialism; ecology; environment; fair trade; corruption; child labour; outsourcing; personal attitudes; whistle blowing. M1 assess how a selected business could improve the ethics of their operations M2 assess the social implications of business ethics facing a selected business in its different areas of activity. M3 explain the ethical concerns of the communities in which a selected business operates and suggest measures that could be taken to improve corporate responsibility.
D1 evaluate the impact of a selected business’s ethical behaviour on stakeholders and the business. Websites http://en. wikipedia. org/wiki/Business_ethics Business ethics from Wikipedia, the free encyclopaedia www. bbc. co. uk/news BBC News www. benjerry. co. uk Ben & Jerry’s Ice Cream www. business-ethics. com Business Ethics online magazine www. business-ethics. com/100best. htm Business Ethics online – 100 Best Corporate Citizens www. ethicalconsumer. org Ethical Consumer www. ethical-junction. org Ethical businesses directory for the UK and Ireland www. ethicalthreads. co. k Ethical clothing and merchandise www. uk. oneworld. net/guides Guides on wide range of ethical issues www. ft. com Financial Times www. hm-treasury. gov. uk HM Treasury www. ibe. org. uk/faq. htm Institute of Business Ethics www. loreal. com L’Oreal www. nike. com Nike www. nologo. org Official No Logo site www. redbox. gov. uk The Red Box, an interactive resource to teach learners about tax and public spending www. tax. org. uk The Chartered Institute of Taxation www. tes. co. uk The Times Educational Supplement www. uk. thebodyshop. com The Body Shop www. unilever. com U
