Business Ethics Essay Example | Topics and Well Written Essays - 750 words - 4

Business Ethics - Essay ExampleIn a contemporary organisation, honest issues complicate fair trade, sustainability, globalisation and most importantly corporate social responsibility. According to the traditional approach, the key objectives of the entity be to make profits and come up strategies of attaining this (Ardalan, 2008513). The modern approach states the organisations performance and right of the organisation. The modern ethical organisation of an entity in the twenty first century explains that success of the entity is determined by the combination of the 4Ps strategy. As earlier mentioned, the organisations main objective is to make profits for the shareholders. The study characteristic of an ethical organisation is one that puts the matters affecting the people at heart (Ardalan, 2008514). These include employees, customers, suppliers, the confederation at large, stakeholders and other parties that are interested in the caller-ups operations. It can be discovered that stakeholders are either internal or external and have a huge impact on the organisations ethics. The organisation should take environmental issues in consideration with regards to sustainability and fair trade (Maignan and Ferrell, 200445). The conjunction has a social responsibility over the global environment and should take into account the expectations of the public. The core ethical principles of the entity are integrity, truth and honesty. These principles have to be in line with the environment in which it operates and within the organisation. This enhances the prolong success of the entity in the long run. In the contemporary business environment ethics should be everlastingly managed in an entity and it is imperative to understand the ethical value of the company (Maignan and Ferrel, 200534). An analysis of the elements in an ethical prudence framework to give a deeper understanding of the ethical status of an entity should be carried out. Firstly, the leadership and senior heed has to show commitment towards the program (Maignan and Ferrel, 200434). Secondly, there should be an assessment of the efficiency of ethical value in the organisation. Thirdly, there should be codification of the ethics and proper communication within the entity (Maignan and Ferrell, 200545). Fourthly, there should be formalization of the code of ethics through proper training and communication (Maignan and Ferrel, 200534). Lastly, the code of ethics should be integrated into the organisations culture. In order to achieve this, the leadership should be on the forefront in ensuring the companys ethics are upheld. Some of the unethical considerations in the operations of the organisation stand for issues that are not necessarily illegal but are viewed as being unethical (Maignan and Ferrell, 200445). Examples of much(prenominal) cases include lack of transparency, exploitation as to maximise profits, environmental pollution, and misuse of power, reputation and co nflict. The organisations activities are impacted directly or indirectly by the stakeholders (Maignan and Ferrel, 200534). External stakeholders include regulatory bodies, advertizement agencies, competitors, consumers and other interest groups. The internal stake holders include the entitys top management, employees and other departments in the company (Maig