...3 Emerging Business Ethics Issues Chapter Objectives • To define ethical issues in the context of organizational ethics • To examine ethical issues as they relate to the basic values of honesty, fairness, and integrity • To delineate abusive and intimidating behavior, lying, conflicts of interest, bribery, corporate intelligence, discrimination, sexual harassment, environmental issues, fraud, insider trading, intellectual property rights, and privacy as business ethics issues • To examine the challenge of determining an ethical issue in business Chapter Outline • Recognizing an Ethical Issue • Ethical Issues and Dilemmas in Business • The Challenge of Determining an Ethical Issue in Business Recognizing an Ethical Issue • An ethical issue is a situation or a problem that requires thought, discussion, or investigation to make a decision • Failure to do so puts corporations at great risk Honesty • Honesty: Truthfulness or trustworthiness • Dishonesty: A lack of integrity, incomplete disclosure, or an unwillingness to tell the truth Fairness and Integrity • Fairness: The quality of being just, equitable, and impartial – Equality – Reciprocity – Optimization • Integrity: One of the most important terms regarding virtue. It means uncompromising adherence to ethical values Ethical Issues and Dilemmas in Business • An ethical issue is a problem or opportunity that requires an individual or group to choose among actions that are evaluated as ethical or unethical...
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...manager at Kudler Fine Foods. Nonis and Swift’s (2001) research reveals that “values are a powerful influence on human attitudes. Values are believed to be a powerful force on the behavioral responses of individuals, employee problems in the workplace, and the significant increase in unethical business practice” (Nonis and Swift, 2001, p. 2). The value a person believes in defines his or her character. According to University of Phoenix Week Six Overview (2008), Ethics Awareness Inventory Scoring summary reports the author’s ethical profile most closely align with character and least aligned with equity. Some of the character qualities that the author possesses consist of honesty, integrity, dependability, and loyalty. The learner’s personal values align with the core values of the commissioned corps of the U.S. Public Health Service, which consist of leadership, service, integrity and excellence. According to U.S. Department of Health and Human Services (2008): Leadership provides vision and purpose in public health through inspiration, dedication, and loyalty. Service demonstrates a commitment to public health through compassionate actions and stewardship of time, resources, and talents. Integrity exemplifies uncompromising ethical conduct and maintains the highest standards of responsibility and accountability. Excellence exhibits superior performance and continuous improvement in knowledge and expertise as a public health officer. (para. 1) The author is proud...
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...United States Coast Guard (USCG) is a branch of the United States Armed Forces and one of the seven U.S uniformed service. Their role is critical to national security. Its mission is to protect the public, the environment, and America’s economic interests in the nation’s ports and waterways. The Coast Guard values diversity, teamwork, and responsiveness. Their mission in valuing diversity is to build a positive and respectful work environment for all personnel, regardless of their similarities or differences, to enhance our mission capabilities. Their values embody selfless service achieved through the contributions of each individual. The Coast Guard core values are honor, respect and devotion to duty. Honor: Integrity is our standard. We demonstrate uncompromising ethical conduct and moral behavior in all of our personal actions. We are loyal and accountable to the public trust. Respect: We value our diverse workforce. We treat each other with fairness, dignity and compassion. We encourage individual opportunity and growth. We encourage creativity through empowerment. We work as a team. Devotion to Duty: We are professionals, military and civilian, who seek responsibility, accept accountability, and are committed to the successful achievement of our organizational goals. We exist to serve and we serve with pride. In regards to the Coast Guard form of communication they use what is called a chain of command as a non-rate you are ordered to take things from the bottom...
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...Managing diversity at workplace: A case study of HP Summary: Introduction: In recent era of globalization workforce diversity have increased the complexity of job. The term diversity is defined by different authors in different ways. In this study the author has discussed different perspectives of this term and approaches used by Hewlet Packard to manage diversity. The study is divided into six sections: 1. Overview of HP 2. Different dimensions of diversity management 3. Strategies perused by managers to embrace diversity 4. Strategies used by HP to handle diversity 5. Paradigms of diversity management 6. Suggestions and conclusion Overview of HP: HP is founded by Bill Hewlet and Dave Packard on 1st January, 1939 with headquarters in California. HP initiates its diversity management policy from the very beginning and introduced “open corporate culture” accompanied by a new management style known as “management by walking around” this kind of management style has never been introduced in large organizations before. As HP operates in more than 120 countries with employees of 172000, it is easy to understand the presence of multicultural workforce in the company. This diversity has no doubt increased the complexity for managers to manage diversity. Diversity management and its dimensions: In this study the author defines diversity as difference among team members in terms of gender, age, race, ethnicity, religion, nationality or other dimensions...
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...Common strength | How it presents at work | Communication | Written communication skill evident in reports, correspondence. Verbal communication skills evident in presentations, managing conflict, selling, dealing with customers, active listening, meeting participation and negotiation. | Strong work ethic/diligent | Hard working, works extra hours, completes projects before time, takes on more than others, does more than required, maintains a high quality of work, imposes own standards of excellence, works without supervision, follows up on own. | Organizational and planning skills | Evident in time management, prioritizing, using resources effectively, meeting deadlines, multi-tasking, dealing with competing demands, achieving objectives and goals, setting targets, maintaining schedules and calendars, optimal use of available resources, coordination of resources to complete projects. | Flexible and adaptable | Able to change activities and priorities to meet new demands, willing to learn new skills and knowledge, make a positive effort to accept changes, able to work and communicate effectively with diverse people, willing to work in different environments, willing to attempt new tasks. | Decision-making/judgment | Gather the necessary information to make a sound decision, come up with viable alternatives, consider pros and cons for each, fully commit to the best action, follow through on decision. | Problem solving | Able to identify and define problems, analyze...
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...Quiz # 1 Note’s Chapter # 1-3 Business Ethics Chapter # 1 1. Why Business Ethics? * Business decisions under great scrutiny Global financial crisis created diminished stakeholder trust Deals with questions about whether practices are acceptable No universally-accepted approach for resolving issues 2. Business Ethics * Comprises principles, values, and standards that guide behavior in the world of business 3. Principles: Specific boundaries for behavior that are universal and absolute Freedom of speech, civil liberties 4. Values: Used to develop socially enforced norms Integrity, accountability, trust, Norms: Accepted behaviors. Morals: Rules of right conduct: right/wrong 5. A Crisis in Business Ethics * Consumer trust of businesses is declining, No sector is exempt from ethical misconduct, Stakeholders determine what is ethical/unethical ,Investors Employees, Customers, Interest groups, Legal system, Community 6. Why Study Business Ethics? * Reports of unethical behavior are on the rise, Society’s evaluation of right or wrong affects its ability to achieve its business goals, Studying business ethics is a response to Sarbanes-Oxley, FSGO, and stakeholder demands for ethics initiatives, Individual ethics alone is not sufficient, Studying business ethics helps identify ethical issues to key stakeholders 7. A Timeline of Ethical and Socially Responsible Concerns * Environmental issue, Civil right issue, increased employee employer...
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...define how workforce and the company are to perform. These values have become the foundation of the “HP Way”. It is an objective-oriented philosophy, where each constituency can share the same principles and work toward a common goal. The primary values of the HP Way are trust and respect for individuals; high level of achievement and contribution; conducting business with uncompromising integrity; common objectives through teamwork; innovation and flexibility. The company’s founder put focus not only on to make creative products but also to create supportive corporate culture. The Company has many personnel policies and internal structures which support these values and each policy complement and support each other. The activities of HP employees are guided by a comprehensive system of management by objectives (MBO). The greatest advantage of MBO is that objectives are goals, not specific tasks handed out by management. Goals can be achieved in multiple ways and it is expected from employees to find their own best ways to meet these goals. Job autonomy encourages creativity in the workplace and increase the sense of accountability to employees. From the beginning HP instituted participative management style to foster teamwork, trust, openness and cooperation. Teamwork is practiced within divisions between R & D, manufacturing, marketing, and finance. Through participative decision-making HP is able to support the involvement and closeness...
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..."What Makes GEICO the Best Place to Work and Why?" Professor William LaSalle Bus 322 July 13,2016 Markets are becoming global. This can present great opportunities with extreme rewards. However, customers and entire markets can be won and lost in the blink of an eye. In order to reap the rewards and manage the risks, GEICO first needs to understand the global forces affecting supply and demand. Markets are also no longer respecting national boundaries. Capital increasingly flows in the direction of wherever the market returns are higher. Human and material resources also do not have much respect for national boundaries. When you have a singular brand focus and idea, customers have total clarity on what you are and what you are not. And to GEICO’s credit, it has stayed true to the same brand positioning for almost 20 years with arguably one of the longest running strategies and taglines in recent history. Because GEICO hasn’t moved from its positioning, it has stuck with a target segment that values price over paying for a traditional agent network model, and has continued to beat a steady, relevant drum through a series of clever ads and characters, whether its cavemen, pigs, the gecko, banjo players or the newly minted camel of Hump Day fame, either way customers know exactly what to expect from GEICO. GEICO also realizes that consistent brand positioning and relevance must go hand in hand. So while the message has stayed the same, GEICO’S advertising campaign tactics...
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...Conceptualizing a New Product of an Existing Business Sharon Poole BUS/475 June 23, 2015 Tom Vincent Conceptualizing a New Product of an Existing Business Introduction The Harsco Corporation is a company that believes that the future of any company rest in it capability to innovate. The Harsco Corporation has been around for more than 160 years providing its clients with products and services that have helped them keep up with the changing world. At Harsco, we understand that you are only as good as the last development that you have made, so within that concept, Harsco has committed to invest major funding into developing new products that will take it into the future. Harsco started out in 1853 as the Harrisburg Car Manufacturing Company (Harsco, 2015). Due to the growth of the railway system, in the United States during the 1800s, it was the Harrisburg Car Manufacturing Company that in effect created rail cars. For more than thirty years this was done on its two-and-a-half acre manufacturing facility (Harsco, 2015). Although, the company’s main line of business was in construction of railroad cars, they later extended into making oil tankers, refrigerated rail cars, steam engines and boilers (Harsco, 2015). Just like the Harsco Corporation of today, innovation was the driving force of the Harrisburg Car Manufacturing Company that created some of the world’s first refrigerated rail cars (Harsco, 2015). Even with all of the tools in its arsenal of products, bad times...
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...Ethics in the workplace can be defined by how peoples personal standards or the lack of personal standards are comprised that can negatively or positively effect a business or place of employment for a person or other individuals. Ethics is defined by a singular person and their ethical beliefs may differ from other co-workers. Workplace ethics are therefore governed by the place of employment and the authority at that employer. For example the ethics for my employer at the Department of the Navy may differ from that of a person employed by a Christian non-profit organization but as I previously said the one acts at their place of employment is up to that individual person and they must be accountable for how they personally act. The majority of my adult life has been associated with the military in some form or fashion. I was an active duty US Navy sailor for four years and served in the Iraq and Afghanistan theatre during my enlistment. After my enlistment I have worked for a non-profit veteran’s organization (Operation Stand Down, Nashville) and again being employed with the Department of the Navy, so my ethical belief have been shaped in the last ten years majorly on what the military believed and just because the military stressed a certain way, does not mean it is ethically right. With that being said I did not forget what my parents taught me in my childhood because I can still remember my father saying to me after I had done something along the lines of punching my...
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...(1) What is the point at which a legal agreement is said to have occurred? Intend to contract. (2) What is the difference between an enforceable, unenforceable, express and implied contract? Unenforceable Agreement occurs when the parties intend to form a valid bar-gain but a court declares that some rule of law prevents enforcing it. Voidable Contract Occurs when the law permits one party to terminate the agreement. Void Agreement is one that neither party can enforce, usually because the purpose of the deal is illegal or because one of the parties had no legal authority to make a contract. (3) Describe a situation where a breach of contract has occurred. Most contracts are discharged by full performance or sometimes the parties discharge a contract by agreement. (4) If there is a breach of contract, what remedies are available? Compensatory Damages (Expectation Interest), Consequential Damages (Special Damages), Incidental Damages (Relatively Minor) (5) What conditions would constitute a discharge of a contract? A party is discharged when they no longer have any duties under a contract. (6) Describe the conditions for a discharge of a contractual obligation. Most contracts are discharged by full performance or sometimes the parties discharge a contract by agreement. (7) Describe types of acceptable performance of a contract. Strict and Substantial Performance. 1) Strict: requires one party to perform its duties perfectly. 2) Substantial: generally sufficient...
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...Activity 1 1. What Characteristics do you believe a positive role model in the workplace should demonstrate? A positive workplace should demonstrate the following 10 characteristics according to Cox(2002) These are: 1. Uncompromising integrity 2.High energy 3.Good at working priorities 4. Courageous 5. A committed and dedicated hard worker 6. Unorthodox and creative 7. Goal Orientation 8. Inspired and contagious enthusiasm 9. Staying level headed 10. A desire to help others grow and succeed 2. Describe a person you have looked up to as a positive role model. What qualities in them did you admire? What made them a suitable role model? What did you learn from them? Sir Richard Branson is one of the worlds most intriguing, succesful and enduring entrepreneurial business leaders. The founder of the Virgin Group, he has established a very interesting background and approach to both leadership and where he chooses to put his resources to work. He is an extremist in serial entrepreneurship and has a very interesting and exciting leadership style. Qualities:Creativity : Richard Branson’s ventures portray creativity, venturing into airliners using new creative measures such as touch-screen ordering of food and comfortable planes. This comes in an era where most other airliners are figuring out how to remove the last remaining frills to cut costs.Adaptability : One of his strong characteristics, besides his charisma, seems to be his adaptability to situations...
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...Abstract . 3M Corporation History of the 3M Corporation What started off as a small company in the Lake Superior Town of Two Harbors, Minnesota in the year 1902 – 3M has grown into a worldwide corporation with companies in over 60 countries. Things seemed bright in June 1902, when Two Harbors attorney John Dwan drew up articles of incorporation and added his $1,000 to that of other charter board members, meat market owner Hermon Cable, Dr. J. Danley Budd, the city’s leading physician, and Duluth and Iron Range Railroad executives William McGonagle and Henry Bryan (3M Corporation, 2015). The five men set out looking for the next new product. They wanted to mine a certain type of mineral deposit (Corundum) to use as an adhesive for grinding-wheels. Corundum was in demand as the premier abrasive for grinding wheels, sandpaper and other items to polish, shape, sharpen and decorate items produced by America’s increasingly industrialized economy. This new source of corundum was greeted jubilantly; the only other North American source was in Ontario. The problem – one that surfaced after the company had incurred a large start-up debt – was that the corundum was not there on Lake Superior’s Minnesota north shore. What was there was anorthosite, which is useless as an abrasive (Bishop, 2005). So within a couple of years of its founding, 3M had tons of mineral for sale, no customers and was all but bankrupt. When mining turned out to be of little use and a failed attempt with mineral...
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...technology on team functioning 13 References 15 Executive Summary This assignment basically discusses the behavior of managers to the employees to a particular business organization. Explaining and discussing the aforementioned issue, the effectiveness of different leadership styles in different organizations is compared. Apart from that the different approaches to management used by different organizations have been evaluated for the convenience of discussion. The impact that different leadership styles may have on motivation in organizations in periods of change has also been brought in light in this assignment. The application of different motivational theories within the workplace has been compared with explanation and...
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...Leadership Styles at U-Haul Sales & Reservations and Implications on Job Satisfaction & Performance MGMT 591: Leadership and Organizational Behavior 12/14/2013 Introduction The organization chosen to be the topic of discussion is U-Haul international, located in Phoenix, Arizona. U-Haul is the largest DIY commercial moving truck rental company in the U.S.A and Canada. They rent and lease moving trucks, trailers, vans, pickup trucks, and storage facilities. U-Haul International is the headquarters for all the workings of U-Haul worldwide. The two 12 story towers reside in downtown Phoenix, AZ, where everything is handled from the executive level down to, marketing, sales and reservations, truck locations, the graphics department, accounting, and many other departments as well. When someone is looking to rent a U-Haul they call 1-800-Go-UHaul and reach the Sales and Reservations department. This department is the focus of my project paper. The Sales & Reservations department can employ up to 200 reservation representatives that quote moving cost and rent trucks and trailers to customers across USA and Canada. U-Haul International alone is worth $1.5 billion dollars. The Sales and Reservations department pays a minimum wage base salary and commission based on the number of moving equipment rented over the specified quota for your work hours. Some reps have made up to $3000 in commission alone in a month. Calls are monitored for accuracy, and your bonus/commission...
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