...09.2014 Source Review In the article ‘Putting ethical practice in corporate responsibility’, Seong (2010) argues that the appreciation(Anerkennung) of business in society puts forward ethical implementation in corporate responsibility as well as the awareness of corporate scandals due to faster distribution via digital channels. The article is relevant to the report question on corporate governance, however, its relevance is limited because the focus is only on one priority of corporate governance. Furthermore, the source is only useful to gain further background information due to a lack of reliable references. The article is relevant to the assessment task, which examines corporate governance and its importance for companies. Seong (2010) points out that companies will attain(erreichen) the gratification(Belohnung) if they recognize(verstehen) the interdependence between corporate responsibility and ethical systems. The more, the correlation between aspects of corporate governance and the worth of corporate responsibility with the result of higher organization’s reward are identified. Moreover, the challenge of connecting the return on investment with the corporate charge into enterprises is presented by the author (2010). The report question’s main focus is on the comprehensive process of corporate governance, hence the source is of limited suitability since it deals only with one principle of the ASX namely ‘Promote ethical and responsible decision-making’. Moreover...
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...Managing Ethical Decision Making in the Workplace James E. Gleason BUS 275-H01 Calhoun Community College Abstract Business leaders struggle to balance the desire for profit and maximum shareholder return with corporate ethics and social responsibility. Unfortunately, short-term financial bottom line has taken the place of maintaining strong moral character in today’s business practices. In the United States alone, about two-thirds of the top corporations have been guilty of some type of corporate malfeasance. In the face of both damaging and publicly embarrassing litigation, business leaders now recognize the need for sound, straightforward ethics management programs in their companies that makes ethical business practices a top priority at all times. Top executives must lead by example and actively and willingly encourage ethical behavior in their peers as well as employees. The need for stronger ethics in business has prompted business schools to critically examine their business curricula and place greater teaching emphasis on ethics and social responsibility to ensure future generations of new business graduates enter the workforce with the highest moral standards. Keywords: ethics, social responsibility, malfeasance, business schools, business curricula Managing Ethical Decision Making in the Workplace Introduction Ensuring that the necessary steps are taken to create and foster a high level of ethics in the business practices of the workplace is critically...
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...emphasized the importance of ethical behavior by companies. The word “ethical” has gained more power in the last decade because of foul practices from companies such as Enron, Arthur Anderson, and WorldCom. The unethical behavior of company executives has caused in-depth company reviews by stakeholders no matter the size or reputation of the company. This paper concisely analyzes the important role of ethics and social responsibility as it pertains to the development of a strategic plan. Stakeholders’ concerns also receive applicable consideration, including the brief consideration of the evolved viewpoints of the student during the completion of his or her MBA studies at University of Phoenix. The Role of Ethics and Social Responsibility “Ethics refers to the specific values, standards, rules, and agreements people adopt for conducting their lives” ("What Does "ethics" Mean?", para. 1, 2013). As strategic managers incorporate ethics into the development of a strategic plan, the company can expect notable results and achievements. Social responsibility along with ethics forms the foundation of a well-devised strategic plan that takes into consideration the diverse requirements of internal and external stakeholders. Ethics and social responsibility support the needs of stakeholders through a company’s attention to ethical codes of conduct, ethical guidelines, and social corporate responsibility. Stakeholders’ Interests “Corporate social responsibility is the idea that a business...
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...|BUSINESS ETHICAL BEHAVIOR & CORPORATE SOCIAL RESPONSIBILITY | | | |Student’s Name:Renee Giordani | | | |Course Title:Sales Management | | | |Professor:Gene Dichiara | | | |SUNY EMPIRE STATE COLLEGE | | | |Date: December 09, 2014 | Business Ethical Behavior & Corporate Social Responsibility: Why Organizations Must Have IT Corporate Social Responsibility has gradually developed into one of the greatest ethical aspects that have to be adhered...
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...Summary This report focuses on the effects on corporate social responsibility (CSR) on MNC from a theoretical point of view by explaining the principles of the CSR in the MNC in a business strategy, identifying the challenges faced by the company in introducing the CSR practice and recommendation by ensuring its effective growth introduction to the company. Corporate social responsibility (CSR) helps MNCs to work in a way which accept ethical way and also contribute to the economic growth and improvethe employees living environments, the smaller society and the bigger society. Multi-national companies can help for CSR in developing countries.The principle of CSR is as a result of globalisation. For centuries, globalisation has been a trend that has knitted people together; this can be traced back to the ‘trade by barter’ system. As civilisation evolved, globalisation began to have more effect and thus implementing CSR. Globalisation has its impacts, both positive and negative on businesses, families, individuals, communities and nations. It is believed that CSR is a means of highlighting the positive impacts of globalisation. Introduction Corporate social responsibility is defined as operating a business in a way that helps for the social and social and environmental effect created by the business organisation. Corporate social responsibility (CSR) helps MNCs to work in a way which accept ethical way and also contribute to the economic growth...
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...RUNNING HEAD: Riordan Corporate Compliance Plan Gregory L. Flanders Business LAW 531 Professor Linda Fried 17 July 2011 Corporate Compliance Plan Date: July 18, 2011 Subject: Riordan Corporate Compliance Plan To: Riordan Executive Officers and Directors I. Introduction Riordan Manufacturing was founded in 1991 with patent awards from processing polymers into strong plastic substrates. Riordan Manufacturing is a profitable plastics manufacturer with annual earnings of $46 million. The company is wholly owned by Riordan Industries, a Fortune 1000 company with revenues over $1 billion. The products include plastic beverage containers produced at the plant in Albany, Georgia, custom plastic parts produced at the plant in Pontiac, Michigan, and plastic fan parts produced at the facilities in Hangzhou, China. The company's research and development is done at the corporate headquarters in San Jose. Riordan’s major customers are automotive parts manufacturers, aircraft manufacturers, the Department of Defense, beverage makers and bottlers, and appliance manufacturers (University of Phoenix, 2003). II. Corporate Compliance Overview Senior leadership for Riordan Manufacturing, Inc. created a corporate compliance plan tailored to the corporation’s specific areas of plastic research and development, design, and manufacturing business. Riordan’s policies set forth in this document applies equally and legitimately to each employee without any regard to...
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...CSR------------------------------------------------------------------------------------- 3 The 4 strategies---------------------------------------------------------------------------------------- 4 The Toyota Example as Proactive Corporate Social Responsibility --------------------------- 6 References --------------------------------------------------------------------------------------------------- ----------- 8 Definition of Corporate Social Responsibility Corporate social responsibility (CSR) is known under various terms used in the industry such as corporate responsibility, corporate citizenship, responsible business, sustainable responsible business or corporate social performance. In spite of some variations in some cases, they basically share the same philosophy and aim towards the same goal. The primary function of Corporate social responsibility is to act as a corporate self-regulating mechanism which in integrated entirely in the business model of a company. The role of this mechanism is to monitors and ensures the company’s compliance to law, ethical standards and international norms. The companies and business bodies would endorse and acknowledge the responsibility for the impact of their activities on consumer and employees, communities, stakeholders and all other members of the public...
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...Time Warner, Inc.: A Most Ethical Company Kelly Jenkins Business Ethics BUS ------- Professor Rebecca Walker September 24, 2012 Introduction There is a great deal of work that goes into a running a multi-million dollar business; there it is also a (huge) task to run this business in an ethical manner. A business must keep close examination of its employees and its board members to ensure that all aspects of the corporation’s conduct remain ethical. Time Warner, Inc. has been recognized by The Ethisphere Institute’s list of the World’s Most Ethical Companies for its outstanding ethics. This organization looks into various companies that go extra mile to display the utmost ethical behavior possible (Ethisphere, 2012). Time Warner, Inc. displays admirable ethics policies and outstanding corporate social responsibility endeavors. In addition, Time Warner, Inc. has displayed an abundant amount of corporate responsibility. Time Warner may be recognized on many different levels as one of the ethical and socially responsible companies, yet that does not go without the occasional scandal. Due to the continued professionalism and high ethical standards, Time Warner was able to overcome negative publicity and remains on the forefront of ethical behavior in 2012. Time Warner’s Ethics Policies Time Warner stated, “Our Standards of Business Conduct stress the importance of abiding by the law, being truthful, being transparent in our business dealings, putting the needs of our stockholders...
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...Part I What role does corporate reputation play within organizational performance and social responsibility? Develop a list of factors or characteristics that different stakeholders may use in assessing corporate reputation. Are these factors consistent across stakeholders? Why or why not? Corporate reputation can be taken as complete inference that its stakeholders carry of an organization. These include both external stakeholders as well as internal ones. This has become a matter of focus for many big organizations as the reputation bring many reimbursements in terms of organization performance. The organization reputation may not be alike to all stake holders and it depends on the way the stakeholders receive familiarity once in touch with the organization. This may rise from direct experience with organization or through some other medium like news channels or talk with friends. Harrison ( n d) states that Stakeholders’ outlook for a company and their associations and interactions with the per se organization and thus the reputation may be impacted by relationship management actions some of which are outlined below pertaining to the Coca Cola case Customers: Direct Impact: Many consumers got ill effects related to health while consuming the product in 1999 in Luxemburg and Netherlands. The coke further took a step back and did not want to come in limelight to discuss the issue openly. The response time was too high for consumers to accept. France was also affected...
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...What is a stakeholder? Text Ch 1: The Corporation and Its Stakeholders Register for Ethical Lens Activity; Read “What is Ethics”(Niihka) Complete Ethical Lens Inventory. Bring results to class and submit to Niihka Week of Aug 31 Class One Owners as stakeholders Text Ch 14: Stockholder Rights and Corporate Governance Inland Bank; Cisco (Niihka) Inland Bank and Cisco case assignments (Niihka) Class Two Owners continued Living Richly (text, pg. 236); Adelphia (Niihka) Adelphia case assignment (Niihka) Week of Sept 7 Class One Labor Day – NO CLASS ClassTwo Forms of business; Intro to Business Processes “Forms of business” excerpt (Niihka); Ciao Baby Pesto case (Niihka) Baby Pesto case due Week of Sep 14 Class One Customers as stakeholders Text Ch 15: Consumer Protection Read Guns Excerpt Odwalla case due Class Two Read Chapter 3 Timberland case due Week of Sept 21 Class One Suppliers as stakeholders “Intro to Supply Chain Management,” excerpt from Handfield (Niihka) Class Two Suppliers cases Beech Nut (Niihka); Ford and Firestone (Niihka) Ford and Firestone case assignment (Niihka) Week of Sep 28 Class One First Exam Class Two The community as stakeholder Text Chapter 18 Corporate Philanthropy vs. Corporate Social Responsibility; Corporate Philanthropy and the Arts (text) Corporate Philanthropy and the Arts case assignment (Niihka) Week of Oct 5 Class One Employees...
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...world due to poor business decision making, likewise their involvement in financial crime and unethical business practices. If the above mentioned people had the opportunity of turning back the hands of time, they would have done things differently and be more ethical in their business practices. Sarbanes-Oxley Act of 2002 is a United States federal law that set new standard for ethical business practices for all U.S public company boards, management and public accounting firms. The bill was enacted as a reaction to a number of major corporate and accounting scandals which cost investors billions of dollars. Many experts think business Ethics can be thought and examined in business schools, but the question is, is it possible to enforce or instill the act of doing right things and making right decisions at all times in the business world? Ethics is a branch of philosophy dealing with values relating to human conduct with respect to the rightness and wrongness of certain actions and to goodness and badness of the motives and ends of such actions. Where as, Business ethics is the study and examination of moral and social responsibility in relation to business practices and decision-making in business. In response to the numerous corporate and financial crimes, we may ask ourselves; do business leaders and board room management meetings focus on ethical business practices and decision making? And can the act of Business ethics be taught and imbibed by students in business schools...
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...International Marketing Ethics Riordon Manufacturing is the world’s leader in the plastic industry. Riordon Manufacturing is a conscious organization with high ethical standards. There are several ethical issues Riordon Manufacturing faces in the daily operations of the business. The three important ethical issues with Riordan manufacturing is code of conduct, commitment of safety for the employees, community and society, and safety for the environment. The Code of Conduct Code of Conduct is a critical piece of business ethic practices. The code of conduct is based on the principles and values of the organization. Corporate codes of conduct are a practical corporate social responsibility (CSR) instrument commonly used to govern employee behavior and establish a socially responsible organizational culture (Erwin, 2011, p. 535). Riordon Manufacturing is aware that codes of conduct affect the organizational culture by governing the actions and conduct of employees through the promotion of ethical business practices, thereby avoiding legal consequences. Riordon has invested in training programs to educate the employees of business ethics, and practices of their organization. Because of the diversity of the workforce at Riordon, management has to prepare an effective code of conduct, workplace standards, and regulations for all its employees to follow (Brenkert, 2010, p. 703). The code of conduct also ensures that the company is performing ethically within and outside...
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...these organizations see such initiatives, broadly called "corporate social responsibility," as a strategic weapon in the war for talent, as well as a vehicle to fuel business growth. The government, businesses and society are much more interactive than in the past. Corporations are more aware of their role towards the society. They are responsible bodies that feel a sense of duty towards commonwealth and the environment. This has come with a growing realization that they, as an integral part of the society, can contribute towards the empowerment and upliftment of the society. This is the foundation thought behind the tripartite golden handshake between—businesses, civil society and governments. Corporate Social Responsibility (CSR) can be defined as the "economic, legal, ethical, and discretionary expectations that society has of organizations at a given point in time". The concept of corporate social responsibility means that organizations have moral, ethical, and philanthropic responsibilities in addition to their responsibilities to earn a fair return for investors and comply with the law. CSR requires organizations to adopt a broader view of its responsibilities that includes not only stockholders, but many other constituencies as well, including employees, suppliers, customers, the local community, state, and federal governments, environmental groups, and other special interest groups. Today, in this competitive business environment, CSR is viewed as the key to not only...
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...The Snow Storm Lawsuit Strayer University Identify and explain at least three legal considerations. The first legal consideration in this case is related to corporate liability. The hospital itself is negligent under this doctrine. Corporate negligence is the failure to provide the equipment, facilities, and staff to carry out the duties of the corporation in accordance with the established standard of conduct (Showalter, 2007). Corporate negligence is evident in this case in regard to the failure to ensure that sufficient healthcare personnel were available to provide the established standard of care to the patients in the facility. Moreover, the personnel that were required to remain at the hospital from the day shift were likely not performing at their peak after already working their own shift; which could result in errors in patient care. The nurse managers should have been proactive and had a plan in place in the event of severe weather such as forming a team of healthcare personnel who were willing to come to work at the beginning of the storm and stay until they could be relieved. This team should consist of a variety of personnel in sufficient numbers to allow for some personnel to rest while others work. Ultimately, it is the responsibility of the hospital to ensure proper personnel coverage regardless of the circumstances. Policies and procedures for handling this type of crisis must be in place and utilized as needed. The second legal consideration in this...
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...Wal-Mart Ethical Analysis Abstract Wal-Mart prides itself on having one of the strictest and most stringent ethics policies in the industry. Employees are not allowed to accept any type of gift, including a cup of coffee. And its 1.3 million employees are encouraged to report any ethics violations that they might suspect or see. With having such a strict policy, Wal-Mart faces around 5,000 lawsuits a year from unethical business practices. Wal-Mart's rating as a company that consumers trust and respect has steadily declined in the last few years. Their image is declining due to negative press giving the perception that Wal-Mart is bad for the economy and is unfair to workers. Wal-Mart Ethical Analysis Wal-Mart was established in 1962 when Sam Walton, who had operated stores in Arkansas and Missouri, decided to open a discount store. In fifty years Wal-Mart has grown to be the largest retail chain in the world. Wal-Mart Stores, Inc. is not only the largest retailer in the world; it is now also ranks as the largest corporation in the world. Wal-Mart operates over 6,000 stores in the US and 13 international markets including the UK, Canada, Japan, Mexico, Brazil and China. It also retails products through its online site. The company is headquartered in Bentonville, Arkansas and employs around 1.3 million people. A business Code of Ethics (COE) is a written set of guidelines issued by an organization to its workers and management to help them conduct their actions in...
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