...Business ethics for corporate growth: A case study of Infosys in India “To achieve our objectives in an environment of fairness, honesty and courtesy toward our clients, employees, vendors and society at large” Mission Statement of Infosys. Starting in 1981 in Bangalore, India with seven colleagues who dared to dream and who were lucky to be among the first in the economic liberalization of India in 1990s, Infosys has crossed billion dollars in revenues in 2004.The company has maintained a consistent growth and built a global company providing turnkey software development. There are many businesses that succeed-the unique factor about Infosys is in just over two decades it has built a brand known for ethical standards both inside and outside in the marketplace. The hypothesis of this paper is that corporate ethics promotes and inspires competitive advantage in a burgeoning marketplace. Ethics in Corporate governance means the parameters which a company sets for itself for its functioning. Transparency and disclosures about accounts as well as other important issues have to be communicated to the stakeholders in a truthful and prompt manner. These build up confidence and trust in the marketplace. When issues like Enron and WorldCom hit the headlines, it is difficult to ignore business ethics. As consumers are getting increasingly aware of ethical issues, corporations have to respond to their concerns whether it is related to issues of environment, heath or any other...
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...XMGT/216 Business Ethics Across Cultures In this paper, I will be reviewing the business ethics found in two countries, each from a different continent. The two countries I have chosen are China and Mexico. The articles I have located for this research are both drawn from the University Library, the first one being Business Ethics and Social Responsibility in Contemporary China, by St. Clair and Norris, the second being Introduction to Central America and Mexico: Efforts and obstacles in creating ethical organizations and an ethical economy, by Collins and Whitaker. I will be reviewing China first, followed by Mexico. Chinese Business Ethics In their article, St. Clair and Norris examine the source of Chinese business ethics from multiple angles. Socially, culturally, and politically, the business atmosphere is quite different in China than it is here in the US. There is, really, no formal culture or system of business ethics for the general, private business sector (St Clair & Norris, 2011). Since its induction into the World Trade Order in 2001, China has modified its business regulations quite significantly to ensure that its businesses operate within the WTO guidelines. However, transition and reform aside, centralized decision making, internal bargaining, and bureaucratic red tape still seem to be the norm, despite the decentralization of many industries and the growth of consumerism. This turn towards progressive business ethics could be due to the recent scandals...
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...undone work. Companies that knowingly go against the law are bad performers in this situation (Daft & Marcic, 2010). Ethical responsibilities constitute behaviors that are unnecessary codified within the law and may not be used in the company’s direct economic responsibilities. In order to be ethical, company policy makers ought to serve with balance, fairness and impartiality; honor the rights of the customers; and provide distinct treatment of customers only when appropriate to the company’s objectives and tasks. Unethical behaviors takes place when policies enable a firm to benefit at the expense of customers or the society at large (Daft & Marcic, 2010). Legal Ethics for Conducting Business Globally Quotas and Tariffs. Regulations on the quantity of commodities that are imported is what is referred as quotas. Some time back, the U.S.A. for example, imposed legal quotas on the quantity of automobiles that should be bought from Japan. Currently, “voluntarily” limits its quantity of exports to U.S.A. On the hand, tariffs refer to the...
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...Globalization Effects on Culture, Business Ethics, and Leadership: A Managerial View Introduction The world’s economy has developed and changed dramatically throughout the years and continues to do so. We are quickly moving away from a world where each country’s economy is isolated and more towards a world with an interdependent global economic system. This interdependent global economic system is commonly referred to as globalization (Saee 2005). The book written by John Saee, Managing Organizations in a Global Economy: An Intercultural Perspective, suggests that the growth of global trade, cross-border investments, mass migration, large-scale tourism, and much more has turned the world into more of a “global village” (Saee 2005). While globalization has effected nearly every aspect of human civilization, it has created some very serious concerns for managers whose organizations and firms already are or are planning to be involved in business transactions that take place outside of their domestic environment. If companies and corporations want to be successful in today’s economy, then it is important for managers to have a thorough knowledge and understanding of different types of cultures, business ethics, and ways of leadership, and the implications that these differences will have on their businesses. In this paper, we will discuss the effects that globalization has had on managers with respect to culture, business ethics, and leadership. Culture Globalization...
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...Global Business and Ethics Global Business and Ethics The phenomenon that is globalization has assisted in the elimination of a myriad of business related ethical issues—well maybe not. Globalization has managed to bring to the forefront a number of ethical issues corporations and individuals are confronted with on a regular basis. Globalization. Two such ethical business issues that have highlighted surround the act of bribing officials and the act of employing children, on a full-time basis, to work in factories or on agricultural fields. Bribes in the Global Marketplace “You must pay if you want to play”—is a phrase that has been, unfortunately, too often uttered by many a government official to foreign as well local businesspeople. The phrase, while simplistic, is meant to inform those businesspeople that in order to get their assistance, or in the worst case scenario, to have the right permits issued so they can enter the country’s marketplace—an extra fee will have to be paid (Trevino, Nelson, & Wiley, 2007 ). It must be understood that these extra fees (which are bribes) are usually against the law in the official’s country, but nevertheless, they are “an accepted part of commercial transactions in many Asian, African, Latin American, and Middle Eastern cultures” (Trevino, Nelson, & Wiley, 2007, p.365). Cultural Perceptions The American perception. In the United States, the bribing of local or foreign officials is perceived as act that is unseemly...
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...Global Finance Environment Paper FIN/403 May 4, 2008 Globalization refers to the merging of national markets into one huge global marketplace. In today’s market, selling internationally is much easier due to falling barriers in cross-border trade. Now businesses don’t have to be industry giants to operate and succeed in global markets. Although it can be beneficial to offer a standard product that can be used worldwide, significant differences still exist between national markets such as cultural differences, consumer taste differences, product preferences and legal regulations. It is important to define and understand these differences when merging into national markets. Globalization is inevitable and it’s happening at an astonishing speed in nearly every market possible. The technology era that we are in has enabled businesses to join forces like never before and we are seeing significant changes in the global marketplace. There are main drivers in globalization and this paper will define three of them, as well as describe the risks associated with financial investing, and explain the importance of cultural sensitivity and ethics in global finance. Drivers of Globalization Market drivers Domestic markets are saturated and growth opportunities are often times limited. Expanding globally opens up many new opportunities allowing for real growth within a business. The following lists in detail the specific market drivers that play a key role...
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...Evaluation of a Business Code of Ethics, The Hershey’s Company PHL/323 Mission Statement Hershey’s Mission Statement noted here, (Social- Responsibility/Marketplace) “Bringing sweet moments of Hershey happiness to the world every day,” Provides the focus of all operations within the Hershey’s Company. Although Hershey’s mission statement provides a simple goal that encompasses acknowledgment of global market share with the sweet moments of happiness provided in every aspect of Hershey’s daily endeavors, a strict code of ethical business conduct forms the underlying fabric that governs all endeavors. Commitments The Hershey’s company understands the scope of responsibilities included with company success as its global influence demands considerable resource utilization. These responsibilities extend past bottom line profit to supporting various charities focused on providing for the needs of children. Hershey’s Code of Ethical conduct contains detailed information as mentioned by, (Code of Ethical Business Conduct, n.d.) “Attempts to address most common legal and ethical issues that we might encounter” To Fellow Employees The foundation of Hershey’s success...
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...money, this Chinese communist leader got the punishment of spending the rest of his life in prison, and also brought influential stress and trust problem in China (The Economist, 2013). This incidence also have drawn international’s attention, with such negative reputation a question mark has been put on China’s trust worship, consequently is also weakening of China’s international position and power. Corruption has always been a worldwide focus, with bribery one of the leading problems existing in the contemporary world. Bribery is legally defined as “The offering, giving, receiving of something of value for the purpose of influencing the action of an official in the discharge of his or her public or legal duties” (U.S Office Of Government Ethics). Bribery in deed has helped tons of people achieve their goals in almost every aspect of people’s life: Kids can be permitted to good schools; companies can get privileges in trades; unqualified candidates can be selected for competitive positions. Bribery has brought the society unfairness, and cause disorder in socials reflecting in wealth gap and power distances. The uprising country China, specifically, is one of the world’s leading highly corrupted country. Not only within nation boarders, bribery also happens in the international trade. Many major international trade organizations (WTO, GATT) has been trying to relieve this problem by setting up universal agreements and regulations, but the issue just keep going and rarely get stopped...
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... |COM/537 Version 1 | | |Organizational Communication | Copyright © 2011 by University of Phoenix. All rights reserved. Course Description This course prepares graduate students to apply written and oral communication principles to the roles they play as managers. Students will learn how to persuade a variety of stakeholders to commit to a proposal. Other topics include the role of perception in communication techniques, aligning communication to an audience, business justifications, presenting data, and ethics in organizational communications. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: • University policies: You must be logged into the student website to view this document. • Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality. Course Materials Spatt, Brenda. (2011). Writing from sources (8th ed.). Boston...
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...Objectives After studying this chapter, you should be able to: 1. Define marketing and outline the steps in the marketing process 2. Explain the importance of understanding customers and the marketplace, and identify the five core marketplace concepts 3. Identify the key elements of a customer-driven marketing strategy and discuss the marketing management orientations that guide marketing strategy 4. Discuss customer relationship management, and identify strategies for creating value for customers and capturing value from customers in return 5. Describe the major trends and forces that are changing the marketing landscape in this age of relationships 1-2 Chapter Concepts 1. 2. 3. 4. 5. 6. 7. 8. What Is Marketing? Understanding the Marketplace and Customer Needs Designing a Customer-Driven Marketing Strategy Preparing an Integrated Marketing Plan and Program Building Customer Relationships Capturing Value from Customers The New Marketing Landscape So, What Is Marketing? Pulling It All Together 1-3 What Is Marketing? Marketing Defined Marketing is the process by which companies create value for customers and build strong customer relationships to capture value from customers in return 1-4 What Is Marketing? The Marketing Process 1. 2. 3. 4. 5. Understand the marketplace and customer wants and needs Design a customer-driven marketing strategy Construct a marketing plan that delivers superior value Build profitable relationships and create customer satisfaction...
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...examples of the service charging double, triple, or quadruple the price when weather conditions are bad or during emergency evacuation situations. During a recent New York snowstorm, some rides cost 8.25 times the standard price, and people are furious. The company’s response to this point has been that if you don’t like the service and the prices they charge you should feel free not to use the service. The rise of social media as a platform for airing grievances has heightened this situation, as celebrities and many other patrons have taken to Twitter to express their disapproval of Uber’s business practices. Uber’s growth as a business has been great, but ultimately the business growth will be stunted as their reputation in the marketplace is becoming tarnished. R E C O M M E N D A T I O N S Article 11, titled “Unfair Business Practices” discusses the idea of entitlement as it relates to company perks and benefits for employees. Some of the points discussed in this article also can be related to customer entitlements. The article asks the questions: What do people deserve? When do they deserve it? Why do they deserve it? What does it mean to deserve anything? Uber should be thinking about these questions as they relate to their own customer’s experiences, and foundationally, what they think about their customers and how they should be treated. A suggested action to help the facilitation of this discussion would be to hold an executive round-table meeting where...
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...Week 3 DQ 2 A Principal’s Responsibility for the Actions of Their Agent BUS 311 Week 3 Final Paper Prep BUS 311 Week 3 Journal Your Experience with Business Law BUS 311 Week 4 Business Ethics – Journal BUS 311 Week 4 DQ 1 Real, Intellectual, and Personal Property BUS 311 Week 4 DQ 2 Business Ethics BUS 311 Week 4 Multimedia activity Business Organization BUS 311 Week 5 DQ 1 Intellectual Property and Technology BUS 311 Week 5 DQ 2 The Global Marketplace BUS 311 Week 5 Final Paper BUS 311 ALL DQS ASSIGNMENTS AND QUIZZES BUS 311 Week 1 DQ 1 Applying the Law to a Set of Facts BUS 311 Week 1 DQ 2 Tort or Crime BUS 311 Week 1 Quiz BUS 311 Week 2 Critical Analysis Paper BUS 311 Week 2 DQ 1 Elements of a Contract BUS 311 Week 2 DQ 2 The Uniform Commercial Code (UCC) BUS 311 Week 2 Quiz BUS 311 Week 3 DQ 1 Employment-at Will BUS 311 Week 3 DQ 2 A Principal’s Responsibility for the Actions of Their Agent BUS 311 Week 3 Final Paper Prep BUS 311 Week 3 Journal Your Experience with Business Law BUS 311 Week 4 Business Ethics – Journal BUS 311 Week 4 DQ 1 Real, Intellectual, and Personal Property BUS 311 Week 4 DQ 2 Business Ethics BUS 311 Week 4 Multimedia activity Business Organization BUS 311 Week 5 DQ 1 Intellectual Property and Technology BUS 311 Week 5 DQ 2 The Global Marketplace BUS 311 Week 5...
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...In today`s marketplace business ethics is very important that companies set code of ethics to follow in their transactions. This becomes a high profile concern, so companies, in their decision making process, urged these moral value to be taken seriously into consideration not only because these ethical rules express to managers and employees the position to take when acting or deciding on behalf of the firm, but also the company`s image depends on the level of honesty, fairness, and integrity within the firm`s corporate culture. Therefore, it is in the company`s best interest to embrace moral and ethical norms not only to build trust and good relationship between the firm and its stakeholders, but also for social responsibilities concerns. Therefore, the firms` marketing professionals must take all the measure to act as ethically as possible because, the company`s marketing strategy express the voice most stakeholders are concerned about. Keywords: marketplace, business, ethics code of ethics, transactions, concern, decision making process, moral values, image, honesty, fairness, integrity, firm, corporate culture, trust, stakeholders, social responsibilities, marketing, professional, strategy. Introduction Being part of the US Department of Health and Human Services (HHS), the Food and Drug Administration (FDA) was established in 1930 and had mission to be guardian to consumers for their safety and well-being, when it comes to use products in the marketplace manufactured...
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...Ethics and Compliance Leslie Hope, Quo-vades Simonton, Teresa Duncan, Kizzy Richardson FIN/370 August 2, 2012 Professor Franklin Olivieri Ethics and Compliance This paper contains analyzed data of the organization Lowe’s Home Improvement Stores. Lowe’s is a home improvement store that provides its customers with the supplies needed for any improvements around the home. The discussion hereafter will assess the role of ethics in the financial department and describe the procedures the company has to encourage ethical behavior. Next, explain the role financial markets in the United States. Followed by how Lowe’s complies with Securities and Exchange Commission (SEC) regulations. Lastly, provide an evaluation of the company’s financial performance last two annual periods, followed by the calculations of ratios for each year. The ratios include current, debt, return on equity, and days receivable along with an explanation for trends. The code of business conduct and ethics at Lowe’s improvement stores starts with the board of directors down to the newest employee. Everyone associated with or represented by Lowe’s is required to read and adhere by the code of conduct. Lowe’s values its reputation as a leader when complying with governmental regulations involving ethics. Lowe’s applies ethics in its financial dealings by requiring, under Section B of the code of conduct. That “employees and members of their immediate families should not have any financial interest, direct...
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...Fannie Mae Management Planning Planning is a management function necessary for the success of any organization. Organizational planning has to include internal and external environments, evaluation of the marketplace, identifying, and analyzing factors that influence planning. Fannie Mae is an organization with a competitive edge in the housing marketplace. Fannie Mae accomplished this through effective planning. Overview of Fannie Mae Fannie Mae is a government-sponsored enterprise (GSE) chartered by Congress with a mission to provide liquidity, stability, and affordability to the UNITED STATES housing and mortgage markets. Fannie Mae operates in the UNITED STATES secondary mortgage market. Rather than making home loans directly to consumers, Fannie Mae work with mortgage bankers, brokers and other primary mortgage market partners to help ensure they have funds to lend to home buyers at affordable rates. Fannie Mae fund mortgage investments primarily by issuing debt securities in the domestic and international capital markets. Fannie Mae has three lines of business-Single-Family, Housing and Community Development and Capital Markets-that provides services and products to lenders and a broad range of housing partners. Together, these business contribute to the company’s chartered mission to increase the amount of funds available to make homeownership and rental housing more available and affordable (Fannie Mae, 2010). Management Planning Function The planning...
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