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Ethics in the corporate world
Ethics in the corporate world
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Target's Chief Executive Officer, Greg Steinhafel, mostly exhibited planning and controlling managerial functions when reacting to the malware cyber-attack. Target's goal was to minimize the damage to customers and subsequently the company, consequently in his planning Steinhafel decided the best way to achieve that goal was to share the information he had in its entirety. Regrettably, not everyone agreed with Steinhafel, but rather than considering his team's advice or convincing his team to agree with his decision and enlist their help, he moved forward with sharing the information on his own, and became exhausted trying to keep up with the demands of answering to their mistake. In that way he did not perform well in the organizing and leading …show more content…
Ikea, another large, global retailer, as well as other major corporations, have recently faced the consequences of their own missteps related to ethical dilemmas. Target had an opportunity to set themselves apart from the others, by handling their shortcomings with honesty. Steinhafel's decision to quickly share all of the information that Target had rather than hide information that was not favorable could go a long way in dealing with the challenge to remain competitive, maintain ethical standards, and encourage workplace happiness and meaningfulness. A customer's trust or whether or not they believe a company is honest and socially ethical will determine their loyalty to that company. Therefore, in this one decision, Steinhafel set an ethical standard of full disclosure and transparency for Target, as well as gained the trust of Target's customer's in the long run. Steinhafel intentionally focused on what Target could do in reaction to the cyber-attack. After all, a cyber-attack is not unique to Target. Ninety six percent of systems are vulnerable regardless of area. As a result of this difficult decision in the face of falling sales, Steinhafel created a company that employees could take pride in, and customers could
Lowe’s and Home Depot introduce each other in a message that clarifies their own explanation of Code of Ethics. Both encourage doing the right thing while performing a job that may not always cover all situations. However, employees’ are provided a strategic map that may...
For example credit card transactions and security breaches have occurred which have cost the company million of dollars. Target Corporation must do a better job of securing its data to prevent future loss in profit, sales, and stock values.
Finding of fact # 1: The ethical problem is a big problem in all large companies (MNCs). I can take the recent case of Volkswagen which has nothing to do with BestBuy
Companies that do not take steps to ensure appropriate associate conduct will be penalized by their constituents and erode public confidence in our free enterprise system” (Kroger, 2014, p. 1). Therefore, as one of the largest retail grocers in the country, they are sincere about their obligation to follow the law and ensure transparency in their operations. Additionally, their core values support the goal of maintaining an ethical workplace, which includes: honesty, integrity, respect, diversity, safety, and
Wal-mart is currently the world’s largest company. It has seen continuous growth and financial success since it was founded in 1962. Today it is living off of a previous reputation of solid ethical business practices that are no longer being exercised. Sam Walton, the founder of Wal-mart, was considered to be “freakishly cheap… Cost-cutting was an obsession in the Wal-mart culture… on business trips, everyone, including the boss, flew coach, and hotel rooms were always shared.” (reclaimdemocracy.org. 2006). This was only part of the reason for Sam Walton’s success.
It's difficult not to be cynical about how “big business” treats the subject of ethics in today's world. In many corporations, where the only important value is the bottom line, most executives merely give lip service to living and operating their corporations ethically.
In December 2013, Target was attacked by a cyber-attack due to a data breach. Target is a widely known retailer that has millions of consumers flocking every day to the retailer to partake in the stores wonders. The Target Data Breach is now known as the largest data breach/attack surpassing the TJX data breach in 2007. “The second-biggest attack struck TJX Companies, the parent company of TJMaxx and Marshall’s, which said in 2007 that about 45 million credit cards and debit cards had been compromised.” (Timberg, Yang, & Tsukayama, 2013) The data breach occurred to Target was a strong swift kick to the guts to not only the retailer/corporation, but to employees and consumers. The December 2013 data breach, exposed Target in a way that many would not expect to see and happen to any major retailer/corporation.
Abortion has been a political, social, and personal topic for many years now. The woman’s right to choose has become a law that is still debated, argued and fought over, even though it has been passed. This paper will examine a specific example where abortion is encouraged, identify the Christian world views beliefs and resolution as well as the consequences of such, and compare them with another option.
Today, Gregg Steinhafel is the CEO and Chairman of the Board of Target Corporation. The main objective of this company is to offer their customers exceptional shopping experiences, by providing quality products at a highly discounted price. Target “remains committed to providing a one-stop shopping experience for guests by delivering differentiated merchandise and outstanding value”.
Materialistic things consume today’s society, whether it is cars, clothing, or jewelry, in a sense we rely on these objects for our happiness. Companies such as Nike, Gap, and Toms, have all had major success do to their loyal customers, who seek the name brand logo of their company. These companies have continued to grow tremendously, making billions of dollars; the companies strive to find ways to outsourcing its manufacturing, in hopes of making more and more profit. Profit is not the only thing that rises, many questions and investigations have occurred, exposing the poor ethical choices these businesses have made. Nike, one of the most well- known and profitable companies have experienced this heavy scrutiny first hand. Throughout this essay the reader will gain a better understanding of Nike’s poor ethical business decisions and what actions they took in order to repair their image.
These ethical decisions are real-life situations where they are forced to make on a daily basis. This is why it is ultimately important that all employees know the six steps to ethical decision making that the company uses. The selected issue for the paper is where an employee has not given their current or potential customers accurate information when opening accounts or requesting new services from Washington Mutual. When a person is in the workplace, proper business ethics is used on a daily basis. An employee can make ethical decisions by applying their critical thinking skills to the situation, they can ensure that the decision that they make is the right decision.
The business world has always been a very risky business. There is a lot to worry about no matter what position a person fulfills; everyone has some level of responsibility. The Gap Incorporated is a multinational specialty retail company (Gap Inc. 2014). The company was created by a Doris and Don Fisher (Joslin et. al. 2010). Don Fisher and his wife was a very wealthy couple, Don was a real estate developer (Joslin et. al. 2010). They decided to open up a clothing store when Don realized how popular jeans were becoming in the fashion industry. Another reason that Don Fisher wanted to open a clothing store is because he has an extremely difficult time finding jeans that fit him properly in department stores (Joslin et. al. 2010). So in the year of 1969 the Fishers opened the very first Gap store in San Francisco, California (Gap Inc. 2014). In this paper I will explore The Gap Incorporated and discuss the company’s ethical culture and behavior past and present. Based on preliminary information, I hypothesize that The Gap Incorporated is an ethical company.
For many years, Amazon has been held as a gold standard of product distribution. They are highly efficient at providing quality products to their customers. According to Amazon, they are able to do so ethically. However, their history has not been without controversy. Most recently, the New York Times released a report that called treatment of their employees unethical (Kantor and Streitfeld). The purpose of this paper is to determine which of the four ethical theories Amazon would claim to be using as a guide to their social responsibility practices. I will begin with a brief description of Amazon and its company values, and an explanation of each ethical theory. Then, I will use Amazon as a case study for these theories. The last question I will address is whether Amazon’s practices are sustainable over time.
Every thriving company must embrace some sort of code of ethics ground rules which will guarantee its success. In this case, Starbucks wants to promote high standards of practice; by selling the richest and aromatic coffees in the world to the ...
Also, this paper will encompass a scenario when it would not make sense for Starbucks to diversify or expand into a foreign market and how the company will create a business environment conducive to ethical behavior will be assessed.