...According to International Business Ethics Institute, understanding business ethics can be problematic in the sense that, this field is vast, often encompassing many concerns such as corporate governance, social responsibility, reputation management, accurate accounting and audits, fair labor practices and environmental stewardship to name a few. Moreover, it generally addresses the entire scope of responsibilities and obligations that a company has to each of its stakeholders like clients, employees, shareholders, suppliers and the community. To simply define business ethics, it is a form of applied ethics where it inculcates a sense within a company’s employees on how to conduct business responsibly. Business ethics seems easy to understand but when you get to the real one, you could find yourself in a confusing situation. Since the term ethics can pose many definitions in a broad context and it can be difficult to find a common understanding of the term, hence, most companies refer the concept of the term ethics as integrity, business practices or responsible business conduct. After you have known the basic definition of business ethics, you would now begin to know the business ethics of a chosen company. This paper aims to give some views on how Hewlett-Packard, an international company which provides mostly computer technologies worldwide, imposes their generally-established business ethics which means to say that it is enforced to their branches all over the world. Hewlett-Packard...
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...Ethics and Integrity in Multinational Companies Silvia Delia OLARU Spiru Haret University, Bucharest, Romania E-mail:olarudelia@yahoo.com Phone: + 40213169793 Elena GURGU Spiru Haret University, Bucharest, Romania E-mail:elenagurgu@yahoo.com Phone: + 40213169785/88 – ext.151 Abstract The good news for multinationals is that globalization is creating more universal standards of business conduct, and these are becoming more rigorous. As more companies adopt these standards, it becomes increasingly important for every multinational to establish companywide core values, standards of behavior, and relevant policies in tune with the rest of the world's ethics and compliance environment. The benefits of an ethical culture outweigh the costs. Globally ethical companies will be those that maintain a strong reputation in all their markets, experience increased employee commitment and loyalty, garner advantages in attracting and retaining customers, and generate superior levels of performance and success. Keywords: globally ethical companies, business conduct, ethical culture, professional standards, corporate code of conduct Introduction Companies operating in foreign countries find that understanding and complying with variant laws, managing employees far from headquarters, serving customers and relating to suppliers and partners in multiple jurisdictions can introduce significant challenges to developing shared corporate values and realizing a truly global culture. Multinational...
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...Christian Hufford Ethical Issues in Business Business Ethics BA 338 Business Ethics Unit 4 Individual Project August 5, 2014 Professor Loschiavo Pyramid schemes and Ponzi schemes share many similar characteristics in which unsuspecting individuals are fooled by unscrupulous investors who promise extraordinary returns. However, in contrast to a regular investment, these types of schemes can offer consistent “profits” only as long as the number of investors continues to increase. Ponzi and pyramid schemes are self-sustaining as long as cash outflows can be matched by monetary inflows. The basic difference a rises in the type of products that schemers offer their clients and the structure of the two ploys. Ponzi schemes are based on fraudulent investment management services- basically investors contribute money to the “portfolio manager” who promises them a high return, and then when those investors want their money back they are paid out with the incoming funds contributed by later investors. The person organizing this type of fraud is in charge of controlling the entire operation; they merely transfer funds from one client to another and forgo any real investment activities. On the other hand, a pyramid scheme is structured so that the initial schemer must recruit other investors who will continue to recruit other investors and those investors will then continue to recruit additional investors and so on. Sometimes there will be an incentive that is presented as an...
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...|BUSINESS ETHICS | |Individual assignment | | | | | |Topic 1: The factors influencing corporate culture | |LECTURER: |Trangdtt | |STUDENT: |Nguyen Thuy Anh | |ID NO. |FB00163 | |CLASS: |BA0601.2 | I. NATURE AND BACKGROUND OF FIRM: The Coca-Cola Company is the world's largest beverage company and is the leading producer and marketer of soft...
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...SUBJECT BUSINESS ETHICS PROFESSOR CYRUS GONDA TOPIC UNETHICAL PRACTISE IN FOLLOWING SECTORS: HOSPITAL GROSSERY HOTEL INFORMATION TECHNOLOGY JOURNALISM GYMNASIUM INTERIOR INSURANCE UNETHICAL PRACTISE IN DIFFERENT SECTORS Hospital No profession is more fundamentally rooted in an ethic than medicine. In the 21st century, almost every young American physician graduates from medical school by reciting some version of an oath of ethical behavior first sworn to by doctors in the fifth century B.C. To be sure, the original formulation by the Greek physician Hippocrates is a bit outdated--starting with its invocation of obscure Greek gods and, among many anachronisms, equating treatment with "dietetic measures" and relegating surgery to barbers. Many medical schools have adopted updated versions of the oath, in which not only the language and concepts are modernized but also considerations such as avoiding overtreatment and factoring the patient's economic well-being into the therapeutic relationship are explicitly included in the pledge. Ethical guidelines are central to medical practice because of what one respondent to ACPE's recent poll of physician leaders summarized as the "inherent conflict of interest" between the physician's role as trusted healer and the physician's role as breadwinner--earning a living from the medical knowledge and ministrations applied Case studies: the legal implications for health care's bad business practices Bad, or unethical,...
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...Our group worked very efficiently and effectively together but there is always room for improvement. When we first met, we divided the project into equal parts and set a due date for the written parts. One thing that we could have worked on would be to have more meetings. We feel that if we met maybe one or two more times, we could have gotten all of our issues with the written parts and presentation out rather than communicating though texting and Facebook. Another aspect our group could have improved on would be communication within our group. Although we all finished our parts on time without any conflict, we never got together to bounce ideas off each other and give each other ideas for our parts. We were just assigned the parts and didn’t discuss them until we put it all together. This could have been beneficial to all of us and maybe make the workload less. Overall, we all agreed that our group worked very well together. We started the assignment when it was given to us and finished our parts on time to the best of our ability. We set deadlines and met all together to discuss what our roles were and our meeting were efficient. It was very interesting to meet new people from different parts of the world and work together with them. It was good for all of us to get out of our comfortable groups and come together with people with different interest and ideas with such diverse cultural backgrounds. It was a very realistic representation of what the real world will be like...
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...1) Yes, I believe that Project Share is altruistic in nature and serves the greater good of man and it is also a good business decision for the company. I have postulated some of my thoughts on the writings of Milton Friedman. While I have no objections to giving back to the community and doing social good, I do believe that a majority of the money, time and effort should come from employee contributions rather than corporate dollars used for funds, grants and scholarships. Companies should limit their direct involvement in these activities using just their brand and influence to raise public awareness to the cause, so long as it is consistent with the companies’ values and beliefs. I also believe it is the firm’s primary job is to focus on delivering the highest possible return of shareholder value. If a company cannot produce a profit, or sustain the shareholder’s appetite, then the possibility of promoting a Project Share cannot exist. Everything in the business revolution is predicated on returning value. I should clarify, that my statements above are based upon the fact the companies in discussion are publicly traded and not private entities. Private entities, which include partnerships, limited liability corporations and other non-traded companies with limited employees and owners who are the sole shareholders, can operate as the social responsibility doctrine as they see fit. 2) Milton Friedman’s, belief was that the one and only one social responsibility of a...
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...FACULTY OF ECONOMIC AND BUSINESS UNIVERSITY OF LAMPUNG MANAGEMENT DEPARTMENT COURSE COURSE CODE SCHEDULE AND CLASS NAMA DOSEN / EMAIL WEBSITE / POWER POINT/ TEACHING MATERIAL BUSINESS ETHICS EBM 612217 / 3 Credit BILLINGUAL F103 Room / Friday 13:30 – 16:00 AM MUDJI RACHMAT RAMELAN, S.E., MBA. / muji@feb.unila.ac.id Dina Safitri, S.E, M.I.B. http://silabus.fe.unila.ac.id Business Ethics: Concepts and Cases (7th Edition) 2012 by Manuel G. Velasquez, ISBN‐10: 0205017665, ISBN‐13: 978‐0205017669, Pearson International Edition 2st (even) Semester of 2013/2014 SEMESTER Course Description Business ethics course is thinking or reflection about morality in business and economic activities, where morality is defined as good aspects and / or bad aspects, commendable or reprehensible that the human behavior is to be allowed or not allowed. In a business context, the quest for profit is a reasonable component of each business venture, so often ignored and passed all requirements of morality. The study of business ethics is expected to provide impact on student behavior as actors of business in the future, so it is expected that the course will broaden students thinking that will create an actors of economy and business that can hold on to moral virtues. Course goal On completion of course the students will be able to Knowing and expressing the concept of business ethics both generally and specifically. Identifies the elements associated with the business ethics...
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...sector nationally and in the region. Siemens' overall involvement in the region dates back almost 140 years. The company's name first became known through the construction of the Indo-European telegraph line from London to Calcutta in 1870. Siemens' first office in what is now Pakistan opened in 1922. The Siemens Pakistan Engineering Company Ltd. was founded in 1953 as a private company, and in 1963 the company was reorganized as a public limited company. Introduction and purpose: This Code of conduct (Ethics) of Siemens Pakistan Engineering Co. Ltd. ("the Company") helps in maintaining and following the standards of business conduct of the Company. The purpose of the Code is to deter wrong-doing, promote ethical conduct in the Company and ensure compliance with the legal requirements, the matters covered in this Code are of the utmost importance to the Company, its stakeholders and business partners. Further, these are essential so that the Company can conduct its business in accordance with its stated values and its legitimate interests. Applicability: The Code is applicable to the following persons unless repugnant to the context or specified otherwise in this code: (a)Members of the Board of Directors of the Company; and (b)Senior Managerial Personnel i.e. all members of management at including all functional heads and such other...
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...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...
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...Higher Education Assessment | School: | Hospitality, Tourism and Sport | Awarding Body: | Lancaster University | Module Code: | TH4MD013 | Programme Title: | Foundation Degree Hospitality and Licensed Retail Management | Occurrence: | 13/15 | Module Title: | Business Ethics and Social Responsibility | Weighting: | 100% | Assessment Title: | Corporate Social Responsibility | Assessment No. | 1 | fds | Tutor Details | Name | Ian Mills | Telephone No. | 504481 | | Email | Ian.Mills@blackpool.ac.uk | Room | SB110 | | Internal Verification (IV)For Staff Use Only | Assessment Brief IVMust be internally verified prior to distribution to students | IV Name: | Beverley Heinze | | | Date: | | | Student Submission IVTo be completed if the assessment submission forms part of the IV sample | IV Name: | | | | Date: | | | Assessment Distribution, Submission & ReturnPlease note that late submissions may incur a penalty as defined within the assessment regulations of the awarding body | Distribution Date: | Monday 19th January 2015 | | Submission Time: | Midnight | | Submission Date: | Friday 15th May 2015 | | Submission Point/Location: | Moodle | | Feedback Week Commencing: | Week commencing Monday 1st June 2015 | | Student Number: | | Student Name: | | | Assessment RecordFor Staff Use Only. All assessment grades are subject to ratification by the College board of examiners and the awarding body. | Grade Awarded:...
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...The success of modern business is apparent, but recently there is much concern in the business-and-society literature and in the general press on whether business fulfils its social role responsibly. Business ethics, corporate social responsibility and corporate governance movements have been developed in recent decades as responses to a growing sense of corporate wrongdoing. This paper attempts to explain why the three movements seem yet to have generated little in the form of widely accepted prescriptions for improvement of business behaviour to the satisfaction of the “constituents” of business, i.e. the major stakeholders. Without denying the usefulness of any of the three movements, the paper suggests that there are weaknesses in all three, especially concerning the way they conceive modern business operation. To this end business pluralism, responsive codes of practice and re-examination of the assumptions (conditions) of business operation could be helpful. In the business literature there is a major strand that celebrates business strength and seeks formulae for success. This strand was manifested in the Scientific Management tradition dating from Frederic Taylor’s work in the early twentieth century (Taylor, 1911) and continued through the Human Relations studies of Elton Mayo that sought to find growth through taking care of the “people dimension” (Roethlisberger and Dickson, 1939). The tradition was further developed following the publication by Peters and Waterman...
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...Running head: Ethical and Moral Issues in Business * Ethical and Moral Issues in Business MGT/216 * Ethical and Moral Issues in Business * In this paper I will address the following topics: the differences between moral and ethical issues, the differences between business ethics and personal ethics and list some examples of ethical issues in today’s business environment. The line between morals and ethics may seem blurred; however, some differences between the two do exist. Morals are defined as one’s personal values or beliefs. These values are typically established by religious beliefs or family influences. Ethics are defined as guidelines for behavioral standards. These guidelines are usually set in place by a specific group or groups of people. For example, businesses usually have a specific code of ethics that may differ from a religious group’s code of ethics. What is acceptable for one group or organization may be unacceptable to others. Business ethics are defined as codes or guidelines used to govern behaviors and practices within any given company. Typically all companies abide by a written code of ethics. These codes are used to ensure that employees understand and practice acceptable behaviors in the workplace. Usually a company’s code of ethics is influenced by the culture surrounding that business. In the business world, personal ethics will sometimes be put aside for the greater gain of the...
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...on ethics by the Santa Clara University, a number of years ago sociologist Raymond Baumhart conducted a survey asking people about what they think of ethics. The results showed many people linking ethics to their feelings, their religion and standards set by the society (Manuel et al, para. 2). Manuel Velasquez and other authors of an article published by the Santa Clara University on business ethics pointed out flaws in the responses. They believed that feelings sometimes deviate from ethics because a person may feel to do something that is not right (Manuel et al, para. 4). Moreover, they argued that most religions advocate high ethical standards, yet these standards cannot be identified with religion because if they were, they would have only applied to religious people (Manuel et al, para. 5). Finally, saying that ethics are standards that a society set was proved wrong as the standards of behavior in a society can diverge from ethics, considering Nazi Germany which was a society that became morally corrupt (Manuel et al.). This was what ethics are not. Then, what are ethics? Ethics are the well founded standards that are backed up by consistent and well founded reasons. These standards include rights, obligations, honesty, fairness, benefit to society or specific virtues. For example, the rights may include right to life and right to freedom whereas reasonable obligations may include abstaining from stealing and fraud (Manuel et al, para 7). The application of ethics is not...
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...previous editions, changes to current editions, and alternate formats, please visit www.cengage.com/highered to search by ISBN#, author, title, or keyword for materials in your areas of interest. Copyright 2011 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it. Licensed to: CengageBrain User Business Ethics, Ninth Edition O.C. Ferrell, John Fraedrich, and Linda Ferrell Vice President of Editorial/Business: Jack W. Calhoun Publisher: Erin Joyner Senior Acquisition Editor: Michele Rhoades Managing Developmental Editor: Joanne Dauksewicz Editorial Assistant: Tamara Grega Marketing Manager: Jon Monahan Senior Marketing Communications Manager: Jim Overly Marketing Coordinator: Julia Tucker Content Project Manager: Joseph Malcolm Production Manager: Kim Kusnerak Media Editor: Rob Ellington Rights Acquisition Director: Audrey Pettengill Rights Acquisition Specialist, Text and Image: Deanna Ettinger Manufacturing Planner: Ron Montgomery Senior Art Director: Tippy McIntosh Internal Designer, Production...
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