...1: Summary of writing intent leading to thesis 2: Define ethics 3: Discuss the importance of ethics in the business environment 4: Connecting Law and Ethics/The role of ethics in law 5: Elaborate on the ethics side of each case. 6: Summary The question of whether an employee can be terminated for off-duty activity can be answered in numerous ways. Some occupations require employee carry a firm moral code even when they are not present at workplaces such as priests, CEOs, and other public or civil servants while other occupations are more lax or do not even require anything more of their employees rather than to show up on time and perform at expected performance levels. The varying levels of standards, in regards to moral code, with the multitude of industries pose the question of what the underlining basis of these rules are. Because as an employer or manager contemplates the reasoning behind the termination of an employee, there must be a general rule of thumb to abide by in order to make the decision. The rules that the employer or manager relies on are called ethics. When an employee is considered for termination, an ethical approach from the employer’s side as well as the employee’s side must be apparent and clear. In order to better understand the role ethics play in employee relations, we must have a thorough understanding of what ethics is and it’s importance in the business environment. Furthermore, in the context of employee termination, we must also understand...
Words: 1486 - Pages: 6
...BUSINESS ETHICS Name Institution of Affiliation Introduction The business environment is changing to embrace ethical conduct in the performance of duties and activities of individuals in professional setting. Nowadays, companies are exposed to public scrutiny where their corporate social responsibility and social accountability are assessed. A shift towards rethinking the various functions of a business entity to encompass ethics into their daily management activities has been undertaken as entities seek to be market leaders. Business ethics encompasses the relationship the company has with the employees, customers, shareholders and the community. Business ethics is the analysis of business activities and situations where issues pertaining what constitute a right or wrong act are dealt with through institutional processes (Jennings, 2011). Consequently, ethics involves ascertaining good practices from bad practices based on the context of morals. On the other hand, moral conduct is the behaviour exhibited by human beings that can either be right or wrong depending on the context whereas business ethics. Business ethics can be viewed from two distinct perspectives; descriptive ethics and normative ethics. Normative ethics ascribes to the justification of moral systems whereas descriptive ethics depicts what ethical practices are. Ideally, the paper will delve into more details concerning what business ethics entails and the importance of business ethics...
Words: 1492 - Pages: 6
...Business Law- In this unit you, Click Link Below To Buy: http://hwcampus.com/shop/business-law-in-this-unit-you/ In this unit you, you will select a case law pertaining to the topic of business entities. Each case law analysis allows you to express yourself as clearly and fully as possible in dissecting a court decision. The purpose of the assignment is two-fold: 1. To give you the opportunity to read a real court decision. 2. To challenge you to think about how you would have decided the case. In your case law analyses, you must be able to navigate the court's decision and summarize it; you are not expected to act as a judge or an advocate. Using your selected court decision, prepare an analysis that responds to the following: 1. Articulates the importance, context, purpose, and relevance of law in a business environment: • Identify the parties who are before the court. • Provide a brief background to problem. Summarize the facts in no more than 2–3 paragraphs. • Identify what is the specific disagreement between the parties. • Explain the ruling of the court in no more than 1–2 paragraphs. 2. Evaluate legal options to create a business entity. • Was there a dissenting opinion? If so, explain why some of the judges or justices disagreed with the majority in the decision. • Compare to other types of business entities-would the party have been in a better position if they formed as a different type of legal business entity? • Do you agree with the...
Words: 420 - Pages: 2
...Table of contents Abstract 3 Introduction 4 ESSENTIAL ELEMENTS OF A VALID CONTRACT 5 Explain different types of business agreements and the importance of key elements require for the formation of a valid contract. 5 Apply the rules of offer and acceptance in the given scenario, also considering any impact of new technology. 5 Assess the importance of the rules of intention and consideration of parties to the agreement by applying. 7 Explain the importance of the contracting parties having the appropriate legal capacity to enter into a binding agreement 7 SPECIFIC TERMS IN A BUSINESS CONTRACT. 8 Analyze specific contract terms with reference to there importance and impact if these terms are broken using Mr. John’s contract for purchase of computers. 8 Justify the selection of methods/ techniques that Mr. John should use for the termination of contract with Mr. Bobs Company. 8 Apply and analyze the law on standard form contracts in the given scenario 9 Discuss the effect of exemption clauses in attempting to exclude contractual liability in the given scenario 11 LAW OF TORT IN BUSINESS ACTIVITIES AND PARTICULAR FORMS OF TORTIUOS LIABILITY. 12 Describe the nature of general tortuous liability comparing and contrasting to contractual liability 12 Explain the liability applicable to an occupier of premises in the given scenario 13 Discuss the nature of employer’s liability with reference to vicarious liability and health and safety implications taking Mr. Bobs Company...
Words: 3228 - Pages: 13
...Business Ethics: The Responsibilities of Employees and Employers Debra J. Scott Columbia Southern University Business Ethics: The Responsibilities of Employees and Employers Ethics are an extremely important aspect of every successful business; they are crucial on the end of the employer as well as every employee. Employees and executives need a clear definition of business ethics and a clear explanation of the significance of ethics in relation to the position and to the business as well. It is shown to be beneficial to employees and executives to use a decision making process in the development of making important decisions; there are many approaches as well as many consequences to making ethical decisions. Good ethics start with the employer and how they handle and execute their ethics and provide a good working example for their employees. There are many viewpoints on what ethics are, especially in relation to business, “Ethical obligations are a set of “ought to” standards that define a moral course of action and draw a line between right and wrong” (Lohrey). Business ethics can be comprised of written and formal guidelines in relation to an organization’s morals. Many businesses use their code of conduct or credo as their guidelines to communicating their organizational ethics, “Business ethics manifests both as written and unwritten codes of moral standards that are critical to the current activities and future aspirations of a business organization. They can differ...
Words: 2028 - Pages: 9
...RUNNING HEAD: THE IMPORTANCE OF ETHICS IN THE BUSINESS WORLD BY Marie J.Lucel MAN 2604 International Business Submitted to: Professor McFarlane Donovan Department of Business Administration Broward College North Campus Coconut Creek, Florida April 01 , 2013 The Importance of Business Ethics in International Businesses Abstract Keywords: Business ethics, corruption, human rights, conducts employment practices, environmental regulations, conflicts of interests, General Policy and Procedures, and moral obligation of the multinational organization. Introduction Businesses are faced with very real ethical dilemmas where the appropriate course of action is not really clear. Some of these are the ethical obligations of a multinational corporation toward their employment conditions, human rights, environmental pollution .Understanding the nature of ethical problems and deciding what actions to pursue when confronted with .Ethical problems frequently occur in International Business. Basic human rights are not accepted in international business, which include freedom of speech, freedom of assembly, freedom of movement, freedom of political repression and so on. In international corruption is so widespread in some countries that politicians and bureaucrats regard it as a benefit of office and openly as break laws against corruption. Corruption is seen and treated as illegal, and when discovered, violators are punished by the full extent of the law. In some countries their...
Words: 2991 - Pages: 12
...Summary The commercial lines underwriter is responsible for underwriting and maintaining the organization’s business, residential, and religious organization policies. They determine acceptance, rejection, coverage, acceptability, and coverage changes. Their analysis is based upon risk, guidelines, and other criteria. Specific Tasks 1. Evaluates compliance with established policies by determining if an applicant is eligible for insurance coverage. A. Task Dimension: Analysis KSAOs | Importance to Tasks (1-5 Rating) | 1. Knowledge of underwriting operations. | 4.9 | 2. Knowledge of underwriting and state-specific practices. | 4.1 | 3. Ability to match policy rating with office guidelines. | 4.0 | 4. Ability to read and interpret laws and guidelines. | 5.0 | 5. Skill in determining acceptable and non-acceptable risks. | 5.0 | 6. Ability to interpret and implement loss-control guidelines. | 4.4 | 2. Supports underwriting practices for enterprise locations by formulating policies for the underwriting process. A. Task Dimension: Analysis B. Task Dimension: Calculations KSAOs | Importance to Tasks (1-5 Rating) | 1. Knowledge of underwriting operations. | 4.9 | 2. Knowledge of underwriting and state-specific practices. | 4.1 | 3. Ability to match policy rating with office guidelines. | 4.0 | 4. Ability to read and interpret laws and guidelines. | 5.0 | 5. Skill in...
Words: 775 - Pages: 4
...Business Law- In this unit you, Click Link Below To Buy: http://hwcampus.com/shop/business-law-in-this-unit-you/ In this unit you, you will select a case law pertaining to the topic of business entities. Each case law analysis allows you to express yourself as clearly and fully as possible in dissecting a court decision. The purpose of the assignment is two-fold: 1. To give you the opportunity to read a real court decision. 2. To challenge you to think about how you would have decided the case. In your case law analyses, you must be able to navigate the court's decision and summarize it; you are not expected to act as a judge or an advocate. Using your selected court decision, prepare an analysis that responds to the following: 1. Articulates the importance, context, purpose, and relevance of law in a business environment: • Identify the parties who are before the court. • Provide a brief background to problem. Summarize the facts in no more than 2–3 paragraphs. • Identify what is the specific disagreement between the parties. • Explain the ruling of the court in no more than 1–2 paragraphs. 2. Evaluate legal options to create a business entity. • Was there a dissenting opinion? If so, explain why some of the judges or justices disagreed with the majority in the decision. • Compare to other types of business entities-would the party have been in a better position if they formed as a different type of legal business entity? • Do you agree with the...
Words: 420 - Pages: 2
...Importance of Training in the Workforce Ardelia Houston HRM/326 April 6, 2015 Dennis Heins Importance of Training in the Workforce The importance of training in the workplace stems from motivation, because it is an essential part of the employee, and the organizational success of a business. In most business employees tend to get irritated or frustrated when he or she works for a long period of time. Most employees of an organization get frustrated from working for a long period time, therefore, it is up to the company to create training courses to encourage its workers, and their quality of work. Motivation is a drive that helps increase the performance of productivity of an organization. It is important for businesses to achieve a pattern of training goals or objectives for employees to learn legal aspects of the company, and learn to work in a diverse environment create growth or profits. In order for a company to become successful in the marketplace, it is important for training courses to take place. When training course occurs it can increase, motivate, and provide potential growth for the employee. Training sessions help to build career development that produces a healthy image for the business, and the consumer. Human resource use learning classes to achieve long, and short-term objectives, and goals. A strong sense of cooperation, and teamwork, and urgency to learn when staff members have the proper training. Employees work together as a unit, and team...
Words: 1219 - Pages: 5
...Importance of stakeholders (easy Jet) List in order of importance 1. Owners 2. Employees 3. Customers 4. Suppliers 5. Government 6. Media 7. Trade unions 8. Local businesses 9. Local and/or national communities Owners are by far the most vital stakeholder in the running of the business, I believe that they are the reason that the business is up and running they allow for vital decisions to be made within the business, things such as various location of the branches have to be carefully taken into account to therefore determine the success of the business. In easy jets case,Sir Stelios Haji-Ioannou created a huge success of the company by considering all aspects of the business carefully. Things such as locations, prices, and employees had to be individually assessed in turn to create and put the business in a safe position, this allowed for easy jets to get where they are today. Employees offer a number of great services from the way in which customers are treated to the taste of their food on the aeroplanes, they in turn are second on the list because of the way in which they help or even so assist the business on the road in the right direction, they are a vital organ of the business in my opinion and if they were to be affected the business would not function as well as they do to this day. I believe they are above customers in the list of importance because if easy jet did not have workers willing to work then there would not be adequate services provided to...
Words: 1141 - Pages: 5
...UPARWARA, NEW RAIPUR Syllabus for MASTER OF BUSINESS ADMINISTRATION EFFECTIVE FROM THE SESSION: 2012-2013 Semester –I ITM UNIVERSITY, NEW RAIPUR Master of Business Administration Semester –I List of subject for Academic Session 2012 – 13. Serial No. 1. 2. 3. 4. 5. 6. 7. 8. List of Subjects Principles of Management Managerial Economics Financial Accounting Environment Management Quantitative Techniques Business Legislation Communication Skills- I Computers for Managers ITM UNIVERSITY, RAIPUR Master of Business Administration Subject: Principles of Management Semester-I Unit I Introduction - Nature, function, definition and importance of management, Definition, nature, purpose and scope of management, Functions of a manager, an overview of planning, organizing, staffing leading and controlling. Is management a science or art? Unit II Development of Management Thought - Scientific management; Contribution of Taylor, Fayol, Mary Follet, Elton Mayo; Hawthorne experiments, Contingency approach, Indian heritage in production and consumption. Management and administration, Management as a profession, Professionalism of management in India, Management ethics and management culture, Skills required of manager, Classification of skills, Methods of skills development. Unit III Management Planning - Concept of planning, objectives, Nature, Types of plan, Stages involved in planning, Characteristics of a good plan, Importance, Limitations of planning, Making planning effective...
Words: 3209 - Pages: 13
...Learning outcome 3 - the impact of the economic environment on business How economic environment affects different businesses Content The economic environment consists of External factors in a business' market and the broader economy that can influence a business. You can divide the economic environment into: • The microeconomic environment - which affects business decision making - such as individual actions of firms and consumers(Market size, Demand, Supply, Competitors, Suppliers and Distribution chain, such as retailer stores) • The macroeconomic environment - which affects an entire economy and all of its participants. Many economic factors act as external constraints on your business, which means that you have little, if any, control over them (Interest rates, Taxes, Inflation, Currency exchange rates, Consumer discretionary income, Savings rates, Consumer confidence levels, Unemployment rate, Recession and Depression) • Describe at least two economic environment micro or macro. • Comparison of two contrasting economic environment - challenges business face • Describe how political factors impact on business activities during an economic environment(recession) i.e. recruitment of staff • social factors impact on business activities i.e. ethics( the business social responsibility policy) and suppliers and distribution chain • and legal factors impact on business activities i.e. employment law during recruitment of staff • Compare and contrast the political...
Words: 630 - Pages: 3
...Critically Thinking Critically An asset is someone or something that is a viable liquidity that expresses a positive value. Being a positive value to a company is a person who can analyze and execute decisions. In this simulation our team had to establish ways to overcome adversity that happens in everyday business. Establishing a value to these problems helps the understanding of how to solve intricate problems in business. Using several tools and techniques helps to develop a clear concise simulation outcome to better business. Evaluation Tools and Techniques The problem solving tools and techniques used in the simulation are importance weighting, criteria matrix, and benchmarking. In the beginning of the simulation the user is asked to categorize the problems of the store into four different categories. These categories are: urgent and critical, non-urgent and critical, urgent and non-critical, and non-urgent and non-critical. This is both an example of importance weighting and criteria matrix because the user is asked to place importance on the problems faced and then asked to place them into a matrix based on that importance. Benchmarking came in at the end of the simulation when we’re being asked to choose the metrics that will be used to measure the impacts of the decisions made previously. The problem solving tools that I would have chosen are histograms, mind mapping, and cause-and-effect (fishbone) diagrams. First I would use the...
Words: 864 - Pages: 4
...Legal Concepts Worksheet Concept Application of Concept to the Issue of Downloading Reference to Concept in Reading The Law of Property – Intellectual property law Property is one’s legal right to exclude others from various resources due to the ownership of those resources. With the rise of e-commerce and the increase of music sales or downloads online, the law of property can be applied. Music producers consider their music their property and protect them from public use and public download. The law of property “establishes private exclusive rights in resources. It is through the law of property that individuals and business organizations can possess, use, and transfer their private resources” (Reed et al, 2005). “Intellectual property laws arose out of the common law, but they also reflect constitutional and statutory adoption. Article I, Section 8, of the Constitution grants the power to Congress “[t]o promote the Progress of Science and useful Arts, by securing for limited Times to Authors and Inventors the exclusive Right to their respective Writings and Discoveries.”” (Reed et al, 2005). Legal regulation as a source of value for business ethics When downloading music online, there is a thin line between what is ethical and what is legal. Transferring of music downloaded from a website, even if paid for, can be unethical. At the same time, it can be considered illegal practice. For example, if I download a song from the internet and pay five dollars for...
Words: 836 - Pages: 4
...IKEA’s marketing, both global and domestic, is affected by a number of environmental factors. We will be discussing all those factors, affect of global economic interdependency, affect of trade agreements and other business practices, and material road and communication networks. Topics like social responsibility, ethics and actual law, cultural differences, and foreign corrupt practices act of 1997 will be discussed. Finally, we will go through effect of political systems, pressure of international relations and effect of technology on overall business. Influence of Global Economic Interdependence & Effect of Trade Practices and Agreements Trade agreements, business practices and the economy help in understanding the purchasing power of the customers. It means they work with earnings, prices, reserves, loans and GDP. These factors should be kept in mind when any organization decides to go global. They should carefully plan their marketing mix in accordance to the target consumers. Pricing is of prime importance here and should be according to prevalent economics conditions there. IKEA has presence in either industrial countries or industrializing countries that is why they can sell their products easily, mainly to middle class that is their prime target. Importance of Demographics & Physical Infrastructure Determining demographic and physical conditions is essential for effective marketing. It includes gender discrepancy, gender...
Words: 1300 - Pages: 6
