...Ethics Student Name MGT/498 Due Date Instructor Ethics A business must operate with ethics as a guiding principle to be successful and profitable. A company that is publically traded bears a responsibility of being a good steward of the profits the company earns, for the stakeholders, employees, and clients. The social aspect of a company and ethics go hand-in-hand. If a business fails to act ethically responsible, the result of that behavior can affect it socially. “The concept of social responsibility proposes that a private corporation has responsibilities to society that extend beyond making a profit” (Wheelen & Hunger, 2010, pg. 72). When a company is established, it begins with a foundation constructed from an idea. The idea evolves and must blossom for the business to grow and make a profit. When a business attains the soliciting stakeholders phase, there must be strategic plan in place. An effective strategic plan requires that a model is developed in order for the business to operate. Running a business requires the owner to have a plan that will include the mission, vision, code of conduct, and ethics that it will go by. A code of conduct and ethics is what the organization expects from the employees. It should also have a written policy of what the consequences are for violating any of the policies. Code of Ethics “A code of ethics specifies how an organization expects its employees to behave while on the job” (Wheelen & Hunger, 2010, pg...
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...Business Ethics MGT/498 Business Ethics This paper will discuss the ethical practices within the business. In the recent years, many businesses have taken a closer look at how the business ethics can either hinder the business or assist them in the growth or sustainability of the business. Examining the different variables of how ethics places into the business’s social responsibilities, and their sustainably organizational strategy and business model. Along with this, both internal and external stakeholders have a part in the influence of the business’s strategy. Although there are many influences to how ethical the business is, many businesses have become more ethically sound after the introduction of the Sarbanes-Oxley (SOX) Act of 2002, which deals with the accounting side of the business (Bateman & Snell, 2011). Every item discussed above plays into the ethics of business and how they relate to the organizational strategy and business model. Ethics in relation to Strategy and Model Ethics is in many areas of business and how it can relate to the businesses strategy, and the business model. Ethics is as simple as right and wrong, but there is more to it than that, it also includes the way business should conduct itself, how individuals conduct themselves, this relates to the morals of the business and individuals in the business. The social responsibilities of business include ethics, along with discretionary, and these have an influence on the business...
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...Ethics Paper Mgt/498 July 4, 2012 Ethics Paper Companies must accept responsible for the consequences of the actions and pass these ethics policies to their employees. “A 2007 survey of global executives by The Economist Intelligence Unit found that the percentage of companies given either high or very priority to corporate ethics and social responsibility had risen from less than 40% in 2004 to 50% 2007 and still rising” (Wheelan, 2010 p. 74). The author of this paper will discuss how the role of ethics and social responsibility will effective stakeholders and society. In addition, the author will discuss how the Arthur Andersen Corporation overstepped their ethical boundaries to their stakeholders. Ethics and Social Responsibilities Ethics spells out the important in order to achieve a specific result within the organization in existing or occurring issues. Moreover, the way people as a society make ethical decisions in his or her personal lives, is not necessarily the same way they make decisions in a business environment. Upper management implements ethical policies for all employees, this information should be updated continually through manuals or on the company’s website. Organizations in the United States use two views for business responsibility in the area of ethics Milton Friedman’s and Archie Carroll’s view. Friedman’s view is widely accepted in the business environment...
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...Running head: ETHICS Ethics Paper Stacey Avery University of Phoenix MGT/498-On-line Rob Inglis May 21, 2012 This paper is written in fulfillment of the MGT/498 class at the University of Phoenix. The assignment calls for a paper in which explains the role of ethics and social responsibility in developing a strategic plan while considering stakeholder needs and agendas. Include at least one example of a company overstepping ethical boundaries for stakeholder agendas, and what type of preventative measures could be taken to avoid this type of situation. When a company is developing their strategic plan, ethics and social responsibility will play a major role in how the company’s plan is devised. The company will also need to take into consideration all the major stakeholders of the company and their needs as well. By doing so, a company will be able to develop a strategic plan that is socially responsible, ethical and approved by all stakeholders, which should lead to a successful strategic plan. As companies develop a strategic plan, ethics and social responsibility will drive the company’s vision, mission and values. These three parts of a strategic plan are the foundation on which to build policies and procedures that will drive the plan through to success. When a company is developing their vision, mission and values, they will need to take into account all stakeholders involved, such as the employees that will be living the...
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...DEFICIENT Maximum Lower Division Credits 75.0 69.0 0.0 Minimum Upper Division Credits 45.0 51.0 0.0 120.0 120.0 0.0 CREDIT TOTALS SECTION 3: REQUIRED COURSE OF STUDY GRADE REQUIRED APPLIED DEFICIENT Required Course of Study 63.0 63.0 0.0 Introductory Course 3.0 3.0 0.0 3.0 3.0 0.0 3.0 3.0 0.0 3.0 3.0 0.0 3.0 3.0 0.0 GEN/200 FOUNDATIONS FOR GENERAL EDUCATION AND PROFESSIONAL SUCCESS (LD) (3.0 credits) C Communications BCOM/275 BUSINESS COMMUNICATIONS AND CRITICAL THINKING (LD) (3.0 credits) D Business Information Systems BIS/220 INTRODUCTION TO COMPUTER APPLICATIONS AND SYSTEMS (LD) (3.0 credits) C Management I MGT/230 MANAGEMENT THEORY AND PRACTICE (LD) (3.0 credits) B+ Accounting I AC 201 PRINCIPLES OF ACCOUNTING I (LD) (3.0 credits) B NOTE Page 1 of 4 This audit provides an official summary of your applied and deficient credits as of the run date and time listed above, but is subject to change. Please review the courses, credits and other degree information provided. Please note that the specific courses in Section 3, 4, and 5 may be printed under slightly different headings than those contained in your Enrollment Agreement/Disclosure Agreement. If you have any questions or feel there is a discrepancy with your record, please contact your Academic Counselor. NIETO, IRN:9013037312 SECTION...
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...THE POWER OF EDUCATION phoenix.edu Bachelor of Science in Business with a Concentration in Human Resource Management The Bachelor of Science in Business (BSB) undergraduate degree program is designed to prepare graduates with the requisite knowledge, skills, and values to effectively apply various business principles and tools in an organizational setting. The BSB foundation is designed to bridge the gap between theory and practical application, while examining the areas of accounting, critical thinking and decision-making, finance, business law, management, marketing, organizational behavior, research and evaluation, and technology. Students are required to demonstrate a comprehensive understanding of the undergraduate business curricula through an integrated topics course. The Human Resource Management Concentration helps students develop an understanding of the fundamentals of human resource management and its strategic relevance in business. The concentration addresses the legal and ethical components of the decision making process involved in the human resources environment. The Human Resource Management Concentration introduces students to the basic concepts of human resource management, and allows further study in the areas of employment law, risk management, recruitment and selection of employees, international HR, change management, compensation and benefits, employee development, and performance management. Students will also develop an understanding of the critical...
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...Fahad Qureshi Ethics Paper MGT/498 Ethics in the most basic terms is what you feel for something that may be right or wrong conduct. Being socially responsible means that organizations must behave ethically and sensitivity towards environmental issues. Company uses ethics and social responsibility for developing strategic plan when considering stakeholder needs and agendas. Enron is one example when a company was overstepping ethical boundaries for stakeholder agendas. There are many preventative measures that are taken now. There are 10 things companies can take to avoid overstepping ethical boundaries. Companies should examine ethical climate. By seeing how their employees feel about the culture and environment by conducting formal assessment. Company should have a code of conduct or ethics code and have it printed, posted on bulletin boards. Company should build a robust ethics infrastructure. Writing a code of conduct and support it at the top level and communicate it to employees. Company should go public and become an ethical public offerings. Company should keep Auditing and consulting functions separate. Companies should talk to employees often regarding ethical company issues. Companies should build ethical conduct within the company by training the employees, providing support and guidance, measuring their success and reward employees. There should be an ethical committee that is focused on the seven provisions of the Federal Sentencing Guidelines. Finally companies...
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...Ethics and Social Responsibility Paper Chris D Alexander MGT/498 The purpose of ethical social responsibility for an organization is based on the respect that is shown to clients, customers, partners, and the public. Disregarding many of the literal obligations on paper, a certain ethical nature is expected from employee to client, employee to consumers,and shareholder to employee. Research has shown that most organizations proves how each company would take pro-active measures to ensure that the companies ethics are followed to a certain extent in order to avoid internal and/or external conflicts. Strategic management becomes extremely critical for companies when evaluating potential ethical concerns. Expectations of ethics and social responsibility are the same in the majority of organizations, but the actions are not always existent in the workplace. This paper will discuss the ethics and social responsibility that are required in the strategic planning of the stakeholders and the management. Ethics is often referred to as a method of principal’s and rules that are applied to achieve and maintain a good society. The myth amongst many is that ethics is based on a measurement of religious value which is not true. Unethical crimes have occurred primarily in the midst of banking and finance businesses. There is a plethora of unethical practices in organizations which include corruption, morality, white-collar crime, and inside trading. Each are important topics...
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...The file MGT 498 Week 5 Discussion Questions 2 Strategic Management has solution of this question: "What is the benefit of a balanced scorecard to your current organization? How can they apply this method of evaluation to your business so that they can develop the proper strategy plan? Why is having a balanced scorecard important? Describe the areas within your organization that could use this method of evaluation." Business - Management Week One Strategic Overview, Ethics, and Legal Environment · Indicate why a strategic management process is needed. · Describe the primary components of the strategic management process. · Explain the relationship of ethics, social responsibility, and corporate performance in strategic planning. Course Assignments 1. Readings · Read Ch. 1 of Concepts in Strategic Management and Business Policy . · Read Ch. 2 of Concepts in Strategic Management and Business Policy . · Read Ch. 3 of Concepts in Strategic Management and Business Policy . · Read this week’s Electronic Reserve Readings. 2. Discussion Questions Respond to the Discussion Questions posted by your instructor. Post your responses in the Main forum. The first two are due by Thursday, Day 3, and the balance is due by Saturday, Day 5. Post your responses in the Main forum. 3. Individual Assignment: Strategic Management Process Paper · Write a 350- to 500-word paper in which you...
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...Ethics Keith A. Bates Sr. MGT/498 4 April 2012 Richard Rignall Ethics Ethics and Social Responsibility in Developing a Strategic Plan Ethics are values that guide personal thoughts and actions in knowing right from wrong. Personal conduct and behavior is based on how the individual views unethical behavior. Social responsibility is the company, management, and employees working and conducting themselves by following rules of society. Companies that include ethics and social responsibility into the company's mission and vision statement have a greater chance of succeeding. Ethics is based on an individual's actions. These individual actions affect the business. Adelphia, one of The United States largest cable company, failed because of poor leadership. Leadership at Adelphia did not conduct business in an ethical fashion and these actions created an atmosphere of greed and corruption, which resulted in prosecution and jail time. Companies have a responsibility to the society that the company serves. Successful companies are organizations financially responsible, but do not place profit above social responsibility. Companies that demonstrate their commitment to society and consumers create an atmosphere where the consumers will return. Consumers need to feel safe with the products they purchased and have faith the company is responsible in the product design, pricing, and consumer safety. Corporations should consider their community and residents when formulating the strategic...
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...Ethics in Strategic Planning Roger Fair MGT/498 November 23, 2015 Eligah King Ethics in Strategic Planning Ethics and social responsibility is essential to any company, no matter how size. Ethics dictate the actions and decisions of every individual in a company or firm. Ethical standards are set by the owner or CEO and filter down through the rest of the company. The owner’s, or CEO’s, behavior toward employees, customers, the community, investors, and vendors affect the behavior of his employees. The employees look to the CEO to set the standard. “Observing high ethical standards is sound business strategy -- resulting in customer loyalty, higher employee retention and a positive image in the industry and within the community” (Hill, 2015). One of the most well known companies that did not live up ethical standards was Enron. Ethics come into play on many fronts. When developing a strategic plan ethics must be considered from the earliest stages. If it is the first or the last plan that a company develops does not matter. Long term plans and visions must take into consideration what the ethical base of the mission statement will be. A company that does not take ethics into consideration during the earliest stages of planning opens itself up for failure. It is also important to create a code of conduct to provide direction about how employees should act in situations they may encounter. Ethical choices can sometimes be personally challenging because adhering to a high...
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...Ethics Paper MGT/498 Ethics Paper Any business that expects to not only turn a profit but have longevity in the market has to operate ethically. A publically traded company has more than the bottom line of earning money, but a responsibility to be a good steward of those profits for their employees, stakeholders and clients. Along with ethics is the social aspect of business which go hand and hand if a business doesn’t act ethically responsible then the social ramifications will be poor as well. When a company forms it is a foundation built from an idea a person has and transforms into a business and if that idea blossoms then the business grows. When a business reaches a stage of soliciting stakeholders a strategic plan needs to be in place, part of that plan is developing a model for the business to operate under. Part of running a business is having a plan that will incorporate what the company’s mission, vision and code of conduct as well as ethics is. That code of ethics and conduct is what the company expects from their employees and what a company will do if those policies are violated (McNamara). A code of ethics is a guideline of expectations and the values the company holds important. When a company has employees that question if something is wrong or not then the code of ethics can be a useful guide but doubles as an orientation tool to show employees what the repercussions are of violating those rules. In today’s failing economy it is obvious...
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...Ethics and Social Responsibility MGT/498 Strategic Plan, Ethics, and Social Responsibility Ethical values and social responsibility serve an important role in the strategic planning process. According to Milton Freidman, “[t]here is one and only one social responsibility of business—to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud” (Wheelen & Hunger, 2010, p. 72). With social media and the internet, it is difficult for companies only to focus on profits. Today, companies need to follow Archie Carroll four responsibilities of business. Those responsibilities include economic, legal, ethical, and discretionary. The priority starts with economic and ends with discretionary. According to Carroll, “a business firm must first make a profit to satisfy its economic responsibilities” (Wheelen & Hunger, 2010, p. 73). Once the company’s economic responsibilities have been met they can worry about the social responsibilities—ethical and discretionary. When a company decides to take responsibility for their actions by doing the right thing, this is called business ethics. In business a company or business has a social responsibility to the consumers and stock holders to make sure they are practicing proper business ethics to not only promote doing the right thing but to show that they are...
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...Ethics Paper Joshua Gilmore MGT/498 10-28-2013 Dr. John Olmstead Introduction Companies and organizations have many plans and goals that are set and chased after year in and year out. The main objective in the end is profits and a company cannot stay afloat if it isn’t profitable. Every company has its ways of being profitable. Ethics plays a large role in a company’s success and could make or break a company in the long run if the company does not practice responsible ethics. Having proper ethics is very important in our ever day life and now with consumers it is important that our companies and organizations are also acting with proper ethics. Some believe that helping the community around the company and abroad is the ethical thing to do and some believe that providing a good product at a good price is being ethical. Role of Ethics and Social Responsibility The concept of social responsibility proposes that a private corporation has responsibilities to society that extend beyond making a profit (Wheelen & Hunger, , 2010). There are many responsibilities in developing a strategic plan and the role that ethics play in the development. Chapter three of (Wheelen & Hunger, p. 70, 2010) speaks on a company that decided to not reach out to its stakeholders before making a move and decided to move to help the community around the company and abroad by spending a lot of the profits to reach out and better the community...
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...Ethics Barbara Brinkley MGT 498 February 27, 2012 Daniel Smith Ethics Ethics are moral standards by which people judge behavior (LoveToKnow Corp, 2012). The function the essay is to enlighten and identify the function of ethics and social responsibility in extending a strategic plan while contemplating the stakeholder needs and agendas. This essay will incorporate a pattern of an organization disregarding moral boundaries for stake holders’ agenda, and what style of defensive precautions were used to circumvent the situation. Business Ethics Business ethics is a structure of ethics that scrutinize the ethical beliefs and moral problem that are portrayed in business. Ethics play an extremely critical role in business today due to policies, procedures, and practices. Systems are in place to govern order and formation in an organization. Employees often challenge these systems and parameters because of no reverence for the management team. Social Responsibility The impression of social responsibility suggests that a selected organization has duties to the public that inflate ahead of making a profit. Strategic assessments repeatedly persuade other entities than just the organization. For example, a decision to cut back by concluding distribution centers and feigned goods affects not only the organization’s workers, but also the surroundings where the plants are located...
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