Analysis Of Seize The Day

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Recommended: Business ethics and the worldview that shapes the definition

1. INTRODUCTION
Business ethics can be defined as a key set of moral values of a company to make good decisions to maintain high ethical standard (Small Biz Connect, n.d). It helps the company to gain high profits for its external as well as internal stakeholders (Small Biz Connect, n.d). In this essay, I will do a situational ethics decision to earn maximum profits for my Sydney based company Seize The Day. Seize The Day is a cotton products international company and want to process its cotton in Alderan because of cheap labour costs, but Alderan is not truly democratic. Bribery is common in Alderan as the whole power of the country is in the hands of Jacob Mayfield’s family. On contrary, Australia is a common wealth country where bribery …show more content…

Accepting this option means giving bribery which is common in Alderan, but it is illegal in Australia. Bribery came under the Criminal Code Act 1995 in Australia (Williams & Meagher, 2014). This situation is using the utilitarian ethics which states that consequences of any action are responsible for the standard of right or wrong (ICAEW, n.d). This option will allow Seize The Day to process its cotton on lower cost which will give it competitive advantage in Australia. It will increase the benefits to all its stakeholders. This option also includes some of the risks …show more content…

In this type of situation, it is better to forgo with some intermediate way which will keep the both parties happy. After analysing the whole situation, I preferred to sign a short term contract with the recommended company in Alderan because saying no or yes leads to financial loss to company and its stakeholders. Rejection will also close the doors of Alderan for Seize The Day. This intermediate way will develop the trade relationship between Seize The Day and Alderan. In future, it will open new gates of success for Seize The Day in Alderan when it will use more labour for its more production operations. Alderan country will also prefer to trade with such companies which are creating jobs for their people. This option is not a full support of bribery as it was a short term and requirement of the situation. After some time when company has its goodwill in Alderan and is will become familiar with the system, then it will again start its new contract with someone else. To make Jacob Mayfield’s family for better options is the main issue which can be sort out by negotiation or acceptance of recommended

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