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Ethical behavior in business
Ethical practices in business
Business ethics quizlet
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As your chief executive officer, I feel the professional obligation to bring some concerns to your attention. Ferguson Enterprises strives to maintain the motto “Nobody expects more from us than we do.” I would like to reiterate the importance of this statement in an ethical sense. Ethics is the proper practices and policies regarding potentially controversial issues, such as corporate governance, bribery, discrimination, and fiduciary responsibilities. Good ethical conduct is not merely required; it is expected from each individual who represents Ferguson. Our company values equality, integrity, respect, and support. Respect is most relevant. If you respect your coworkers and customers, the other values fall into place. Therefore, Ferguson’s …show more content…
new code of honor is that we will not intentionally participate in any form of malicious harm to a person, but instead, we will remain objective to other people’s opinions, choices, and personal beliefs out of respect for the individual. I believe you all can follow this code of conduct for your own benefit and for the betterment of Ferguson Enterprises. Ferguson employees work directly with customers on a daily basis. Most likely, you have encountered a customer who lost their patience, became frustrated with situational inconveniences, and were just plain rude. Whether the customer’s behavior was warranted or not, I understand the stress you face as employees. For this company, respect is freely given, and not earned. I understand that this is a difficult task, but I need to ensure that my corporation’s employees continue to respect those who are disrespectful back. This high expectation applies toward customers and coworkers. I hold my corporation’s managers to an even higher standard.
You may hold a different title, but you are not above your branch’s staff. You are still an employee of Ferguson Enterprises. As a manager, I expect commitment, diligence, enthusiasm, resourcefulness, and tranquility when accidents occur in the workplace. Listen to your employees and demonstrate that you value their ideas. Tell your employees exactly what you expect of them and give frequent feedback. By properly equipping your employees to do their jobs, you, as a manager, show your respect for them and the company as a whole. If you associate yourself with Ferguson Enterprises Incorporated, you will be respectful and be respected. An organization like ours should have the epitome of values, and I expect nothing less from this extraordinary, successful community. I believe Ferguson should signify diversity, efficiency, fairness, insightfulness, reliability, and a mutual sense of respect. I am asking you all to assist me in enforcing ethical behavior. Identifying the proper ethical path is not always easy, but the choices you make every day can positively influence those around you to do the same. As a company, we will reach our goals through honorable conduct. Respect Ferguson. Respect each
other.
Lowe’s begins their manual with an Introduction that includes employees’ and Board of Directors’ together. Lowe’s feels employees’ are equal and expects their executives to follow the same rules of conduct. Lowe’s includes ethics and code of conduct together as a framework of principles’ to guide employees’ in their day-to-day conduct. (Lowe's Internal, 2010)
By proactively addressing ethical issues with a code of conduct, Raiders Inc. can set the standard regarding how they want employees to behave. Employee can be trained on the company code of ethics so they understand how their company expects them to respond. They can also train them on the biases of decision making, to make sure they are aware of the pitfalls that exist. (Robbins & Coulter, 2012)
The company's management put a lot of emphasis on taking care of its employees, encouraging an entrepreneurial spirit, treating each other with respect, and being committed
Do you agree with Schmeltekopf that business schools are not preparing students well for the for the ethical challenges they will face in the workplace? Why or why not?
Principles and values are what defines an organizations culture. The character of the organization is questioned when shameful events occur. Through these accounts of discrimination and harassment on diversity, the organizations culture is at risk. An update and review on the policies and procedures are vital for this organization. Sometimes employees need a reminder on how they should conduct business and professionalism with fellow workers. To abide by the laws of harassment and discrimination in the workplace, Treton should be in favor of the refresher course.
Ferrell, O. C., Fraedrich, J., & Ferrell, L. (2011). Business ethics: Ethical decision making and cases: 2011 custom edition (8th ed.). Mason, OH: South-Western Cengage Learning.
Trevino, L. K., & Nelson, K. A. (2011). Managing business ethics: Straight talk about how to do it right. New York: John Wiley.
With all discrimination aside, what’s important is to show some honest respect, ethics, value, and loyalty to every employee.
Moral and ethical leaders are essential for any successful business because these leaders are the essential links between the organization’s objectives and its stakeholders. Leaders are the face of any organization, and their actions reflect the values and the ethics the organization they represent. Therefore, if a leader’s action and decision is ethical, the stakeholders and other organizations will respect the leader and the organization. Recent history has shown that ethical behaviors are important in sustaining businesses; large corporations such as Enron, Chevron, and Worldcom, destroyed people’s lives through unethical business behaviors (Josephson, M., 2013). If these corporations and its executives have operated morally and ethically, they would have been able to avoid bankruptcy and escaped going to prison (The Economist, 2002). Having ethical leadership in organizations will help to eliminate the negative impact executive’s gre...
Even after 9/11 Southwest Airlines has always been the top airlines in the United States. The reason for their unwavering success is based on the simplistic way they execute common values. After extensively reading their value statement, I’ve come to realize the company’s ambition thrives on motivating and taking care of their employees. Southwest’s values revolve around a warrior spirit, a servant’s heart, and a fun-loving attitude. These values transcend the more original ones from other organizations and ultimately represent more than that. For example, a warrior spirit represent the area where Southwest Airlines provides the tools for employees to better serve their customers. A servant heart implies that one is encouraged to treat each other with respect by showing concern for the customer. Lastly, a fun-loving attitude suggests that employees should have fun at work. Value is a strong concept created to guide or direct individuals behavior towards a desired or favorable outcome. For Southwest Airlines, values are not just about what the company believes, it’s about how it sets the culture. Newly hired employees are tested in the company’s three core values and in reward Southwest Airlines provide a recognition program for all employees who are complimented by customers. These values are mentioned in newsletters, staff meetings by the CEO and at special event. Southwest’s
In the video case study on Warby Parker, the eyewear retailer demonstrates its business policies of being ethical and being socially responsible by donating a pair of glasses for each pair purchased to developing and poor countries. Warby Parker partners with the non-profit VisionSpring to bring glasses to those who do not have access to them in other countries. This type of partnership is considered a form of corporate social responsibility called corporate philanthropy.
The majority of European and U.S. CEO's and higher ranking managers define corporate ethics as a subject that is to be dealt with at three levels; (1) the corporate mission, (2) constituency relations, and (3) policies and practices. The corporate mission is the most easily recognized and widely applicable category. Executives say that the enterprise in which they are engaged in, and the products or services that they market, should serve an essentially ethical purpose and that a companies first ethical responsibilities are defined by the nature of their objectives (Madsen and Shafritz, 1990).
While our organization prides itself in a well-defined and thorough code of ethics, there are occasions where situations arise, but the solution is not clearly defined within our code. In such a case, it is critical to develop a decision making framework that allows our employees to make a decision while operating within the moral guidelines of our corporation. In the hope that we can eliminate discrepancies, Royal Dutch Shell has created an ethical decision strategy that will make clear the ethical standings of our corporation and ensure a consistent decision making process. Our decision making process is focused on our stakeholders, and how we can maximize their benefit.
The Facts: Kermit Vandivier works for B.F. Goodrich. His job assignment was to write the qualifying report on the four disk brakes for LTV Aerospace Corporation. LTV purchased aircraft brakes from B.F. Goodrich for the Air Force. Goodrich desperately wanted the contract because it guaranteed a commitment from the Air Force on future brake purchases for the A7D from them, even if they lost money on the initial contract.
Everyone has their own personal set of ethics or set of moral principles on what one believes is right and what is wrong and social responsibility to society brought into the business world (“Ethics”). Every day, an individual is deciding to do something, whether it is at work, at home or at the grocery store, an individual’s decision may be right or wrong depending on the person and the situation. In businesses, one must interact with several different morals from the employees and the customers, as well as a social responsibility to the business of what is right and what is wrong to help it become profitable. (Kurtz and Boone 32). Business owners and employees can encounter common business ethical challenges such as conflict of interest,