...on corporate ethical values, employee commitment, and performance. Journal of Business Ethics, 97, 341-363.Retrieved from http://search.proquest.com.ezproxy.liberty.edu:2048/docview/821301766 The authors of this business journal explore the recent activities of today’s retail giants and how their ethical behavior affects their brand, objectives, performance and stakeholders. The authors investigate the origins of certain variables that affect the ethical values of an organization. In addition, a review is performed on how both ethics along with these variables contribute to the success of the organization with respect to quality and quantity of output. A link is established between power, ethics and commitment to productivity. Brickley, J.A., Smith , C.W. & Zimmerman, J.L. (2002). Business ethics and organizational architecture. Journal of Banking and Finance, 26 (9), 1821-1835. Retrieved from http://dx.doi.org/10.1016/S0378-4266(02)00193-0 This journal implies that there is potential for a balance between economics and business ethics in several instances. One instance is found in the presumptions of how organizational members make decisions and from what ethical foundation they are considered? In addition, the importance of the union between business ethics and organizational structure is visited considering their value to the motivation of the internal stakeholders. The journal explores another instance where there may be a balance between business ethics and economics...
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...Ethical Role of the Manager In a broad construction of the ethical role of the manager, managing and leading can be said to be inherently ethics-laden tasks because every managerial decision affects either people or the natural environment in some way—and those effects or impacts need to be taken into consideration as decisions are made. A narrower construction of the ethical role of the manager is that managers should serve only the interests of the shareholder; that is, their sole ethical task is to meet the fiduciary obligation to maximize shareholder wealth that is embedded in the law, predominantly that of the United States, although this point of view is increasingly accepted in other parts of the world. Even in this narrow view, however, although not always recognized explicitly, ethics are at the core of management practice. The ethical role of managers is broadened beyond fiduciary responsibility when consideration is given to the multiple stakeholders who constitute the organization being managed and to nature, on which human civilization depends for its survival. Business decisions affect both stakeholders and nature; therefore, a logical conclusion is that those decisions have ethical content inherently and that managerial decisions, behaviors, and actions are therefore inherently ethical in nature. Whenever there are impacts due to a decision, behavior, or action that a leader or manager makes, there are ethical aspects to that decision or situation. While some skeptics...
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...ought to live. Ethics involves making moral judgments about what is right or wrong, good or bad. Right and wrong are qualities or moral judgments we assign to actions and conduct. Within the study of ethics, there are three branches: metaethics , concerned with methods, language, logical structure, and the reasoning used in the interpretation of ethical terms, for example, what exactly the term “good” means; normative ethics , concerned with ways of behaving and standards of conduct; and applied ethics , concerned with solving practical moral problems as they arise, particularly in the professions, such as medicine and law. Ethics provides us with a way to make moral choices when we are uncertain about what to do in a situation involving moral issues. In the process of everyday life, moral rules are desirable, not because they express absolute truth but because they are generally reliable guides for normal circumstances. Normative Ethics Normative ethics is fundamental to ethical decision making in the criminal justice system. A central notion in normative ethics is that one’s conduct must take into account moral issues; that is, one should act morally, using reason to decide the proper way of conducting oneself. Essentially, ethics, in prescribing certain standards of conduct, gives us a way of making choices in situations where we are unsure how to act. What are these standards of conduct and how do we decide what is right and wrong? Some argue that because standards of...
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...1007/s11948-010-9213-7 Teaching Ethics to Engineers: Ethical Decision Making Parallels the Engineering Design Process Bridget Bero • Alana Kuhlman Received: 14 January 2010 / Accepted: 18 May 2010 / Published online: 4 June 2010 Ó Springer Science+Business Media B.V. 2010 Abstract In order to fulfill ABET requirements, Northern Arizona University’s Civil and Environmental engineering programs incorporate professional ethics in several of its engineering courses. This paper discusses an ethics module in a 3rd year engineering design course that focuses on the design process and technical writing. Engineering students early in their student careers generally possess good black/white critical thinking skills on technical issues. Engineering design is the first time students are exposed to ‘‘grey’’ or multiple possible solution technical problems. To identify and solve these problems, the engineering design process is used. Ethical problems are also ‘‘grey’’ problems and present similar challenges to students. Students need a practical tool for solving these ethical problems. The stepwise engineering design process was used as a model to demonstrate a similar process for ethical situations. The ethical decision making process of Martin and Schinzinger was adapted for parallelism to the design process and presented to students as a step-wise technique for identification of the pertinent ethical issues, relevant moral theories, possible outcomes and a final decision. Students had...
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...demonstrating good choices in their personal and professional lives. A person who is ethical and moral may not be considered virtuous, because of the differences between the three concepts. Virtuous Virtuous is used to describe a person who strives for excellence, in both their ethical and moral behaviors. Virtue, demonstrated as one who has good character traits, is often associated with ethical and moral beliefs, which is necessary for people to function in society with distinction. Virtuous examples are demonstrated in one who shows honesty, forgiveness, kindness, and respectfulness; among other exemplary character traits. A person who is virtuous shows commitment to doing the right thing, no matter what the cost; personal or not. Someone who is virtuous does not bend to desires, urges, or impulses, but acts according to their principles and values. Ethics Ethics are the rules and principles that govern the actions of people in comparative societies, while morality may differ from person to person. Ethics are described in our reading as, “what constitutes right and wrong, or good and bad behaviors,” and is understood when all of our ethical decisions are guided by the application of our ethical principles, (Boylan, 2009). Potter Stewart, an Associate Justice of the U.S. Supreme Court once said, “Ethics is knowing the difference between what you have a right to do and what is right to do.” Morality Morality, as described in our...
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...Understanding the Dilemma of Ethical Decision Making Understanding ethics and utilizing ethical business practices are key to the success in modern business. Traditional business organizations must take into consideration many more aspects of business today, than in the past when the focus was primarily on profits and making money for the shareholders. These ethical principles also influence non-profit and government organizations as well, taking into account the same ethical considerations that for profit organizations deal with. The modern concept of ethical organizations takes into account many issues, some of which include: • corporate social responsibility • the triple bottom line (economic, social and environmental) • ethical management and leadership • globalization • sustainability This list is not all inclusive. Ethics and ethical behaviors cover a wide range of factors and situations. Throughout the world there are many different definitions. With cultural, regional and society based interpretations of the concept. As such there are no world wide set of rules and no set standards of what is ethical. With the growing importance of ethics in the modern world, the fact that there are no set rules is fascinating. This begs the question, what is ethical? To understand this concept we must look deeper than the common definition of what an ethical organization is. There are so many factors that influence and affect an organizations ability...
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...beliefs, attitudes and habits related to an individual’s or group’s morality. Eg. : Ethics given in the Bhagavat Gita or the Bible or the Quran. 4. As per the definition of dictionaries – ‘moral principles’ is about the actions and principles of conduct of the people. i.e. ethical or unethical. Engineering Ethics 1. Like the ethics, engineering ethics also aims at knowing moral values related to engineering, finding accurate solutions to the moral problems in engineering and justifying moral judgments of engineering. 2. Engineering Ethics gives a total view of the moral problems and how to solve these issues specifically related to engineering field. 3. Engineering ethics is also using some currently accepted codes and standards which are to be followed by group of engineers and engineering societies. 4. Engineering ethics also concerns with discovering moral principles such as obligation, rights and ideals in engineering and by applying them to take a correct decision. From these senses of Engineering ethics, one can realize that it is the study of morality. What is morality? The term ‘morality’ concerns with (a) what ought or ought not to be done in a given situation, (b) what is right or wrong...
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...PEST Market Analysis Tool PEST analysis method and examples The PEST analysis is a useful tool for understanding market growth or decline, and as such the position, potential and direction for a business. A PEST analysis is a business measurement tool. PEST is an acronym for Political, Economic, Social and Technological factors, which are used to assess the market for a business or organizational unit. The PEST analysis headings are a framework for reviewing a situation, and can also, like SWOT analysis, and Porter's Five Forces model, be used to review a strategy or position, direction of a company, a marketing proposition, or idea. Completing a PEST analysis is very simple, and is a good subject for workshop sessions. PEST analysis also works well in brainstorming meetings. Use PEST analysis for business and strategic planning, marketing planning, business and product development and research reports. You can also use PEST analysis exercises for team building games. PEST analysis is similar to SWOT analysis - it's simple, quick, and uses four key perspectives. As PEST factors are essentially external, completing a PEST analysis is helpful prior to completing a SWOT analysis (a SWOT analysis - Strengths, Weaknesses, Opportunities, Threats - is based broadly on half internal and half external factors). pest variations The PEST model, like most very good simple concepts, has prompted several variations on the theme. For example, the PEST acronym is sometimes shown as STEP, which...
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...corruption defined by the ethical wrongdoing of Enron, WorldCom, Tyco, Arthur Andersen, and HealthSouth captured the world’s attention as never before. It soon became clear, however, that the U. S. had not cornered the market on questionable ethics. The Dutch firm Ahold and Italy’s Parmalat quickly shared center stage with scandals of their own. Domestic business ethics will continue to be a top priority. But global business ethics will demand cutting-edge thinking and practice as companies strive to expand their products, services, sales, and operations throughout the world. Regardless of what is happening in individual countries, whether at home or abroad, the primary venue for ethical debates in the future will more and more be the world stage. The primary venue for ethical debates in the future will more and more be the world stage. Globalization characterizes the international setting of business transactions in which U. S. and world multinational corporations (MNCs) will increasingly participate over the next several decades. Despite setbacks such as the attacks upon the World Trade Center in 2001 and the antiglobalization backlash that continues to be seen at major international meetings of the World Trade Organization, International Monetary Fund, and global summits such as the G8 summits, the global economy is irresistible to MNCs, and little will impede the trend toward global capitalism. The explosive growth of MNCs has set the stage for global business ethics to be one...
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...title. It should attract the reader and make them want to read more. 3. Begin writing the paper. Start by identifying the problem that is being explored in the case study. 4. Explore the problem, including cause, effect and theory. Give as much background as possible. 5. Discuss the possible solution, and/or how this issue was specifically resolved. Tell what methods were used in the process. 6. Describe benefits of the study. Tell how the benefits overall affect the group to which your case study is aimed. 7. Utilize the general-to-specific-to-general approach. This is the approach to use because it draws the reader in, demonstrates a specific example, and then shows how it applies to the group as a whole. It also shows the reader how they can address their own problem this way. Tips & Warnings • Use facts and numbers where possible. This is specifically aimed at the benefits portion of the case study. Potential readers will be compelled with the numbers and how they are affected by them and remain interested. • Use photos if necessary. If photos are used, be sure they are professionally done so as to not sully the quality of the case study. • Have an executive sign off on your case study when complete, if possible. It increases the credibility of your case study. • Format your paper in an easy to read format like using bold for headings, double spacing, and justifying the alignment. Remember to review your grammar. ...
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...successful, they must attract, hire, develop, motivate, and retain a high performing team of talented individuals. Employment of an effective, yet ethical, performance management process is critical to the long-term success of any organization. Indeed, it is perhaps the most vital function of thriving business leaders. Furthermore, the ability of a manager to develop and retain his/her talent is a direct reflection of his/her leadership skills. This paper will discuss the appraisal process utilized by the world's largest home-improvement retailer, The Home Depot concluding with recommendations for improvement. Commencing in 2004, the organization adopted a forced ranking performance appraisal system. Careful evaluation of this assessment process suggests that the compulsory classification of an arbitrary number of employees has resulted in several unintended consequences while raising ethical concerns. The following topics relative to the utilization of a forced distribution system have been evaluated. The proposed benefits of forced distribution. The impact of forced ranking on employees and managers. The results of a forced ranking model on employee retention. Application of ethical theory to the forced ranking model. SWOT Analysis. Conclusion. This review of the forced ranking methodology will assess the moral and ethical implications of the model. Additionally, it will evaluate the impact on the organization, as well as the individuals employed by the firm. The...
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...Introduction The business as per the generally acceptable notion is a profit making entity and takes into account function of monetary transactions as the criteria measure for the success of its operational activities. Corporate social responsibility in the past is considered as unwanted activities which are imposed on business by law and governing bodies as unnecessary burden which is against the basic principle of profit making for the business organizations. Business organizations have been considered as bodies that meet the demand of the consumers by supplying their goods and services, and have the responsibility for generating wealth and employment opportunities. (Mette Morsing & Carmen Thyssen, 2003) In recent times after the increase in concern about the ecological imbalances and the impact of business on the environment, this above view is however changing and more and more entities are taking corporate social responsibility activities and few of them are also able to align their business goals in order to generate profits. The modern business also debates over the business responsibility towards the Shareholder’s and owners versus Stakeholders (employees, consumers, suppliers and shareholders) in the present day scenario. After taking the consideration of responsibility towards stakeholders, businesses are coming closer to the society and are altering the function of business organizations taking into considerations the business’ wider role. The wider role define...
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...Colleges’ ‘Night Before Notes’ for ACCA P1 Dec 2014 Owen O’Reilly owen.oreilly@citycolleges.ie Everyone loves ‘tips’ – but you have got to be careful! There is a grain of truth in the following... handy as a checklist also – 3 or 4 points on each: Paper P1 Becker Paper P1 BPP • Corporate governance (CG) concepts, underlying • Public sector governance. fundamentals and arrangements. • Integrated reporting. • CG in other organisations (e.g. public sector, NGOs). • Ethical and CSR theories – applied to scenarios. • Types and forms of CG (e.g. rules based, principles based, insider, outsider systems, UK Corporate Governance Code, Paper P1 LSBF SoX). • Governance: • Agency theory, stakeholders, Mendelow. – Role of Board. – Unitary/two tier. • Board structures, CEO/chairman, directors, NEDs, – Chair role/CEO chair split. committees. – Induction/performance appraisal. – Reward systems. • Internal control and business risk, Turnbull. – Family based structure. • Ethical theories and business codes – Kohlberg, Gray, Owen – Global standards in governance. and Adams, Tucker, AAA. – Stakeholder classifications. • Professions and the public interest. • Control: • Corporate social responsibility, corporate citizen, footprints – Objectives of a sound system. and sustainability. – COSO failures. – Reasons for internal audit. • Integrated reporting, social and environmental auditing. – Internal control disclosure. • Risk management: Paper P1 Kaplan – Risk...
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...Well-developed equity market & dispersed ownership | 2 | c. Voluntary practices | 3 | a. Advertising | 4 | a. Monetary Policy | 5 | c. That portion of bank’s total cash reserves which they are statutorily required to hold with the RBI. | 6 | b. The Greenbury Committee, 1995 | 7 | b. Bank | 8 | d. Harshad Mehta scam, 1992 | 9 | b. Diffused Debt | 10 | a. Director | 11 | b. De Facto | 12 | b. Independent auditors | 13 | a. Ganguly Group | 14 | c. Bribery | 15 | c. The Pluralistic Model | 16 | a. The National Environment Policy, 2004 | 17 | b. Dhanuka Committee | 18 | a. It lays down the framework for creating long-term trust between companies & the external provides of capital | 19 | d. He has to ensure that his work involves exercise of judgment. | 20 | b. Stewardship Theory | Section B: Short Notes | Question | Answer | 11(continued)1(continued) | Clause 49The term ‘Clause 49’ refers to clause number 49 of the Listing Agreement between a company and the Stock Exchanges on which it is listed. The Listing Agreement is identical for all Indian Stock Exchanges, including the NSE and BSE. This clause is a recent addition to the Listing Agreement and was inserted as late as 2000 consequent to the recommendations of the Kumar Mangalam Birla Committee on CG constituted by SEBI in 1999. Clause 49, when it was first added, was intended to introduce some basic CG practices in Indian companies and brought in a number of key changes in governance...
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...Ethics Introduction Importance of Ethics in Public Administration The study of the foundations of ethical administration is an important topic to explore when working in a public organization, especially when pursuing a future role as a public administrator. Ethics in public administration is not a transient concept but has proven to be an approach which has shown a great deal of sustainability which is fundamental to the area of public administration. Ethics is gaining prominence in the discourse about governance today. Public organizations and public administrators should strive for high ethical standards and an ethical workplace. “The general goal of identifying ethical precepts is relatively straight forward—to develop standards of “right conduct” that are known and knowable beforehand and apply to more or less everyone—but maddeningly difficult to specify with precision, an even more onerous to practice (Martinez, 2009, p.1).” Organizations need to abide by ethics or rule of law and engage themselves in fair practices and competition; all of which will benefit the public and organization. Ethics is important because of the following: satisfying basic human needs, creating credibility, uniting people and leadership, improving decision making, long term gains, and securing the public. Ethics tries to create a sense of right and wrong in the organizations and often when the law fails, it is the ethics that may stop organizations from harming the society or environment...
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