...through encouraging development in others of what he calls the ‘moral impulse’. His post-foundationalist approach to ethics endeavors to overcome some of the inevitable confusion created by empirical relativism and moral uncertainty by inviting individuals to transcend their egoistic moral understandings of the social self and consequently, act more caringly and responsibly towards others (Benhabib 1992; Legge 1998a, 1998b; Letiche 1998; Willmott 1998). In general, we are not ‘against ethics’ as such although all are...
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...that management’s only social responsibility goes beyond making profits to include protecting and improving society’s welfare. * Management’s social responsibility goes beyond making profits to include protecting and improving society’s welfare * Corporations are not independent entities responsible only to stockholders. * Firms have a moral responsibility to larger society to become involved in social, legal, and political issues. * “To do the right thing” Comparing the Two Views * A stage 1 manager is following the classical view of social responsibility and obeys all laws and regulations while caring for stockholders’ interests. * At stage 2 managers expand their responsibility to another important stakeholder group – employees. Because they want to attract, keep, and motivate good employees, stage 2 managers improve working conditions, expand employee rights, increase job security, and focus on human resource concerns. * At stage 3 managers expand their responsibilities to other stakeholders in the specific environment, primarily customers and suppliers. Socially responsible actions for these stakeholders might include fair prices, high-quality products and services, safe products, good...
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...The Ethics of Earnings Management: The Case of Income Smoothing James Gaa University of Alberta May 2007 Information Asymmetry In Most Situations, People Do Not Have the Same Information Management Inevitably Has Information that Would be Useful to Investors – and other Stakeholders In Financial Reporting: Information Asymmetry Follows Immediately from the Separation of Ownership and Management May 2007 The Ethics of Earnings Management 2 1 Corporate Transparency (OECD) “The Corporate Governance Framework Should Ensure that Timely and Accurate Disclosure is made on All Material Matters regarding the Corporation, Including the Financial Situation, Performance, Ownership, and Governance of the Company.” OECD, ”Corporate Governance Principles: 2004” May 2007 The Ethics of Earnings Management 3 Corporate Secrecy (OECD) “Disclosure Requirements are Not Expected to Place Unreasonable Administrative or Cost Burdens on Enterprises. Nor are Companies Expected to Disclose Information that May Endanger their Competitive Position Unless Disclosure is Necessary to Fully Inform the Investment Decision and to Avoid Misleading the Investor” OECD, ”Corporate Governance Principles: 2004” May 2007 The Ethics of Earnings Management 4 2 Corporate Secrecy Corporations Have Secrets Some are Legitimate Corporations Should be Able to Keep them secret Trade Secrets Other Proprietary Information Some are Not Legitimate ...
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...Current Ethical Issues XMGT/216 When researching the “Virtual Organization” website, there were plenty of businesses, healthcare, schools and government organizations to choose from, all of which proved to be interesting. However, after reading many of the websites, I have chosen to explore Kudler Fine Foods. Kudler Fine Foods is a gourmet food Internet supplier that sells specialty items with regards to produce, baking, pastry goods, fresh meat and seafood, condiments and packaged foods, cheese and specialty dairy products for the discerning shopper (Virtual Organizations, 2011). The company was established by Kathy Kudler on June 18, 1998 in La Jolla. The store became successful quickly, and within the first nine months, the store was showing balanced books and generating a profit for the first year. A second store opened in 2000 in DelMar, and the third shop opened in 2003 in Encinitas (Virtual Organizations, 2011). Kathy and the stakeholders developed a good mission statement for her company promising to provide the “finest selection of foodstuffs, wines and related needs in an unparalleled consumer environment” (Virtual Organizations, 2011). In addition, she promised to provide this service because “we "shop the world" for our products; purchase only the finest of products; are highly selective in acquiring our team members; and will go to extensive lengths to assure that Kudler's is the purveyor of choice for customers aspiring to purchase the finest epicurean”...
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...Business ethics are the ethics are to ensure moral guidelines which govern good business behaviors, such ethics applied to various field of business managements (Ferrell, O. C., & Ferrell, L. 2011) . For instance, the decision making processes of BOD would consider the ethical effect of the decision made and implemented without harming any of the individual around and related. Supply chain management is the management of products and services that how they are converted from materials to products and then finally deliver to the final users and customers. In the entire processes of supply chain activities, there are many of interrelated individuals and stakeholders are affected and related, therefore satisfy each stakeholder is to ensure the effectiveness of the supply chain management system. Due diligence is the duty and responsibility of managements and directors to act prudently in evaluating associated risks in all transactions and business activities in order to ensure that business are going concern and healthy in comply with legal standards. The relationship between due diligence, business ethics and supply chain management is that business will use due diligence as the way to ensure the business ethics is implemented and contribute to an efficient and effective supply chain management system of the organization that realize the benefits and interest of all related stakeholders, and thus intends to satisfy them. 2. ETHICAL ISSUE IN SCM Supply chain management is one of...
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...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 to individuals and businesses alike. Body In analysing business ethics, it is important to differentiate ethics and law. An individual might argue that the law is concerned with handling wrongful acts hence applicable in business. However, ethics is mainly based on moral acts which are not codified into either social law or prohibitions. Of importance is that most of the morally...
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...Federation, owners of the Amul Brand, and presently a director at Parag Mild Foods, owner of the Gowardhan and Go brands (quoted in Dibyendy Ganguly, “who moved my cheese”, in Brand Equity, The Economic Times, 2nd March 2011, page 1). 1 10/14/2012 Open systems model Organization Input Conversion process Output Implications of Open systems model • • • • • • Measuring effectiveness Stakeholder and environment management Aligning members Defining boundary Achieving coordination Organizational change 2 10/14/2012 Organizational effectiveness External resource approach Secure resources Cost & quality of inputs Market share Stakeholder support Internal resources approach Innovation and responsiveness Decision time Innovativeness Employee motivation, coordination, conflict Time to market Technical approach Conversion efficiency Product quality & cost Customer service Delivery time Ethical decisions • Is it for the greater good? The utilitarian approach – If no – reject • If yes: Does it protect the rights of those affected by the decision? The moral rights approach – If no – reject • If yes: Does it distribute benefits and harm equitably? The justice approach – If no – reject – If yes – Accept this decision 3 10/14/2012 Problem of aligning members to organizational goals through adequate control mechanisms AGENCY THEORY Salient aspects • Applicable whenever there is a Principal-Agent relationship – Board structure & compensation...
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...Ethical Decision Making and Hiring My Name MGMT314 Management Ethics University Instructor Abstract Established morals identified by an organization is a vital step in the ethical decision-making process and ultimately its success. The development of a Code of Ethics is the pivotal point in establishing what an organization stands for ethically and morally. From business decisions to hiring processes, ethics will drive all of these decisions. There are multiple facets to the development of the Code of Ethics and there is not a one size fits all approach to the development process. Once the Code of Ethics has been identified a Code of Conduct must be established. Both of these aspects do not amount to anything if the people upholding the code choose to not act accordingly. A well-established Code of Ethics can build a strong workforce through advertisement and hiring. This paper explores the development of the Code of Ethics, Code of Conduct, and applicable hiring processes that guide a company’s vision and success. Ethical Decision Making and Hiring Every day there a businesses identified in the news that have been caught up in scandals. Those scandals are usually ethical violations such as misappropriation of funds, conflicts of interest, lapsed licensing, improper or fraudulent billing, sexual harassment, discrimination, safety violations, and poor work conditions. These incidents are direct violations of an organizations Code of Ethics. ...
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...Allison for the Orion Shield Project as Project Manager was an immense error. Individuals have to question both the decision and morals of Henry Larson in appointing an unproven individual to pilot such a widespread venture. Gary made many incorrect judgments as he mistakenly regarded the horrible and dishonorable guidance of Henry Larson. Among the numerous bad choices and errors made by Gary was his lack of integrity and communication with the stakeholders occupied with the task. If Gary would have been more informative with all parties engaged many conflicts would have either been evaded or correctly resolved in a timely manner. A reprimand was warranted and should have been a must for the role that Henry Larson had due to the participation and involvement to the project over-run and negligence of finances. This would have been the situation if Gary would have maintained his honesty and basically communicated to the SEC about Henry’s participation from the start of the project. However, amid the numerous other incorrect choices that Gary made, he chose to be secret about Henry’s association, which definitively led to Gary assuming the total accountability and liability of all the troubles and collapses that happened during the project. His poor decision making, unprofessional conduct, and negligence of finances not only harmfully affected the stakeholders of the project; it also negatively affected Gary’s career. Introduction Project management is a task that necessitates...
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...Course Code and Name: BSB50207 DIPLOMA OF BUSINESS Unit Code: BSBHRM501B Unit Title: MANAGE HUMAN RESOURCES SERVICE For this assessment you are required to answer all of the questions. You are permitted to research the answers by reading your text book, theory notes and accessing the internet. If more room is needed label each task with the question number and use headings or dot points to make your work clear for your trainer and assessor. Please follow the Referencing Guide contained on your Course handbook. Please attach a student assessment cover sheet to each unit submission. You must complete the cover sheet in full detail. PART A – REVIEW Question 1 –TERMINOLOGY Research the following TERMS and PHRASES these are linked with your assessment. Attach your definition or explanation to each point. Please remember to Reference. a. Strategic plan Strategic plan is a systematic process of envisioning a desired future, and translating this vision into broadly defined goals or objectives and a sequence of steps to achieve them. b. Operational plan Operational plan is the conversion of strategic goals into managed execution. It deals specifically with the internal operations and resources necessary to produce company’s product or service. c. Line and senior managers Line manager is a manager who heads a revenue-generating department and is responsible for achieving an organization's main objectives by executing functions such as policy making...
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...IIBM Institute of Business Management Corporate Governance www.iibmindia.in Chapter 1 Corporate Governance Corporate governance refers to the system by which corporations are directed and controlled. The governance structure specifies the distribution of rights and responsibilities among different participants in the corporation (such as the board of directors, managers, shareholders, crors, auditors, regulators, and other stakeholders) and specifies the rules and procedures for making decisions in corporate affairs. Governance provides the structure through which corporations set and pursue their objectives, while reflecting the context of the social, regulatory and market environment. Governance is a mechanism for monitoring the actions, policies and decisions of corporations. Governance involves the alignment of interests among the stakeholders. There has been renewed interest in the corporate governance practices of modern corporations, particularly in relation to accountability, since the high-profile collapses of a number of large corporations during 2001–2002, most of which involved accounting fraud. Corporate scandals of various forms have maintained public and political interest in the regulation of corporate governance. In the U.S., these include Enron Corporation and MCI Inc. (formerly WorldCom). Their demise is associated with the U.S. federal government passing the Sarbanes-Oxley Act in 2002, intending to restore public confidence in corporate...
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...United States. The world’s fastest-growing economy is the second largest behind the United States, and by mid-century, it is expected [The passive voice is a form of "be" (is) and a participle (expected). Over-use of the passive voice can make paragraphs officious and tedious to read. Try to use the active voice most often; for example, passive voice = The paper was completed on time. Active voice = the student completed the paper on time--(Note: the Plain Writing Act of 2010 makes avoidance of the passive voice in official writing a requirement for government employees)] to be number one. “The moral challenge is even more intense for multinational companies who need to live up to moral expectations both in the US and in host foreign countries. In developed countries, the moral expectations of the host country are as stringent as our own. With third world host countries, though, the moral expectations often more lax, and multinationals are tempted to lower their...
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...plagiarism checking service (which may then retain a copy of the assessment item on its database for the purpose of future plagiarism checking). I certify that I have read and understood the Institute Rules in respect of Student Academic Misconduct. Date Student Signature B. MARKER TO COMPLETE Comment : Grade Date Marker’s Signature Assignment Title & Number: Number – QCF/M/601/1024 Learning Outcomes Covered: Outcome1 Understand different ethical perspectives in business Outcome2 Understand business objectives from an ethical perspective Outcome3 Understand ethics in workplace relationships Outcome4 Be able to assess a current ethical issue in a business. Assessment Criteria Covered: 1.1, 1.2, 1.3 2.1, 2.2, 2.3 3.1 4.1, 4.2 Issue Date: Submission Date : • Check carefully the hand in date and the instructions given with the assignment. Late submissions will not be accepted. • Ensure that you give yourself enough time to complete the assignment by the due date. • Don’t leave things such as printing...
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...Introduction This paper is a based on a case study of Nike. The paper will be discussing legal and ethical analysis and how the impact the operational/ ethical issues of the organization, the paper shall also be discussing the contribution factors and how the company’s corporate culture may have helped to minimize the unethical behavior or actually contributed to/caused the unethical behavior. The paper is also going to provide ethical decision factors, which are going to address or going to be considered in resolving the legal/ethical issues identified within this case. And finally the paper is going to provide an action plan for each of the legal/ethical issues along with recommendations that company can take to help prevent these issues in the future. Nike is one of the famous franchises in the world that sells sportswear for all ages. But is mostly famous for their athlete shoes and apparel and Nike is also one of the major manufacturers of sport equipment as well. The slogan for Nike is “Just Do It”. Nike was founded in January 1962 in Oregon, United States by Philip Knight and Bill Bowerman. Nike has somewhere around 700 or more retail outlets spread all over the world, and has approximately 45 offices only outside the United States. And it employs 30,000 people all over the world. Nike had a revenue excess of $16 billion in 2007. Nike’s factories are mostly located in Asian countries like Pakistan, India, Malaysia, China, Indonesia, Philippines, Taiwan, Vietnam...
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...and integrity are important between transacting business corporations. Thus, laws and policies that protect the interests of companies and corporations have been put into effect due to a “standardization of the code of ethics” in the corporate world. This has led to the creation of a better attitude among business establishments, accredited on the corporate governance applied within the company. The main goal of this paper is to explain what corporate governance is, to develop its principles, mechanisms and controls, and its efficiency in the world of business. The OECD Principles of Corporate Governance states: "Corporate governance involves a set of relationships between a company’s management, its board, its shareholders and other stakeholders. Corporate governance also provides the structure through which the objectives of the company are set, and the means of attaining those objectives and monitoring performance are determined." (2004) In other words, corporate governance includes the relationship between shareholders and corporations; between financial...
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