Practices In Managing And Measuring Corporate Essay

Question:

Discuss About The Practices In Managing And Measuring Corporate.

Answer:

Introduction

In the current business scenario, the company faces ethical challenges due to different reasons. Business ethics is defined as the deliberation of moral decision and accountabilities in the procedure of dealing with the business. An effective business leads to develop the favorable association amid managers, workforces, and co-workers. All business can enhance the favorable business relationship by generating strong mission statement and upbeat team based atmospheres (Carroll, and Buchholtz, 2014). This report presents the two different ethical issues at the workplace. It also demonstrates the ethical framework for addressing these ethical issues.

Identification of issues

Employee working condition is a key ethical issue that is faced by an organization. Apart from employee behavior, there are several ethical challenges that business people should consider regarding employee working circumstances. For instance, employers should be aware regarding the safety of their work environment and if they have compensated workforces all the time they have performed. The employer should consider this issue if they have required a workforce to perform a unreasoningly long period of time and if they have him doing an performing an unusually complex task. Just like, there are legal consequences for certain unethical concern associated with workforce’s behavior, there are also legal consequences with regards to unethical working condition (Ferrell, and Fraedrich, 2015). For instance, an employer who has an employee to perform without pay can generate unsafe working atmosphere and legal challenges.

An ethical framework for addressing issue 1 and justification of the choice

The company should implement workplace policy reliably when identifying the workplace and employee issues associated with workplace ethics. It should also practice some business approaches in each condition, regardless of the supposed urgency and the level of workforces involved. The company should also communicate the same expectation with all workforces whether they are in managerial positions or front line manufacture roles and approach. Furthermore, every concern should have equal interpretation regarding company policy (Weiss, 2014).

The company should also train their employees. It should offer workplace ethics training to workforces. It should practice different instruction techniques in order to involve the workforces in learning regarding how to identify and resolve ethical challenges. Experiential learning or role-play is a prominent method to provide the ethics training at the workplace. Example of organizational ethics stimulations entails circumstances regarding the misuse of company fund, workplace associations, personal worth associated with improper workplace liaison and the organizational compliance regarding supervisory control (Grayson, and Hodges, 2017).

Supplier and customer relations are another ethical issue at the workplace. Employees and business owner should consider the ethical challenges with regards to association amid customers and suppliers. A business owner should focus on whether it would be ethical to make business with suppliers who have unethical practices. In case of dealing with the customers and clients, the business owner always makes sure that they use their data correctly, do not deliberately perform sub-standard work, and do not falsely advertise of the products and services (Epstein, 2018).

An ethical framework for addressing issue 2 and justification of the choice

Communication is an effective ethical strategy to make liaison with the customers. A key purpose of using business ethics is the way by which a corporation communicates with the customers. When developing shop in a society, company leaders often communicate with the city officials with the intention of increasing the favorable zoning, other support, and tax subsidies. Along with this, transparency and honesty are predicted to develop and keeps a favorable image amid customers. Honesty and transparent communication in marketing is essential to building an ethical reputation among customers (Crane, and Matten, 2016).

Supplier treatment is another ethical strategy to resolve the ethical challenges. The company should interact with business suppliers. For example, retailers should typically buy supplies as well as resale the products and services from distributors. Fair and honest activities in such communications are also ethical concerns. Honest communication when penetrating business agreements and paying bills on time is an ethical application. The company should also keep the trusting liaison with suppliers. It is a long-term perspective, which aids the business to perform the operation (Grayson, and Hodges, 2017).
Conclusion

From the above discussion, it can be concluded that in current business scenario, company faces different ethical challenges such as Employee working condition and suppliers and customers relationships. It can be also summarised that there are different strategies to resolve the ethical challenges as fair workplace policy, honesty and transparency and ethical communication.

References

Carroll, A., & Buchholtz, A. (2014). Business and Society: Ethics, sustainability, and stakeholder management. UK: Nelson Education.

Crane, A., & Matten, D. (2016). Business ethics: Managing corporate citizenship and sustainability in the age of globalization. USA: Oxford University Press.

Epstein, M. J. (2018). Making sustainability work: Best practices in managing and measuring corporate social, environmental and economic impacts. UK: Routledge.

Ferrell, O. C., & Fraedrich, J. (2015). Business ethics: Ethical decision making & cases. UK: Nelson Education.

Grayson, D., & Hodges, A. (2017). Corporate social opportunity!: Seven steps to make corporate social responsibility work for your business. UK: Routledge.

Weiss, J. W. (2014). Business ethics: A stakeholder and issues management approach. USA: Berrett-Koehler Publishers.

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