Assignment: Ethical Results
Assignment: Ethical Results
Assignment: Ethical Results
Does Being Ethical Result in Better Performance?
While research suggests ethical businesses have better performance, there is also an alternate view. Many businesspeople think ethics and social responsibility require resources that do not contribute to profits and time spent in ethics training could be better used for other business activities. One viewpoint is that when companies push the edge, pay minor fines for misconduct, or are not caught in wrongdoing, they may end up being more profitable than companies with a strong ethical culture. Many financial companies became extremely profitable when taking high-risk opportunities with limited transparency about the nature of the complex products they sold. To gain competitive advantage, a firm needs to be able to reach markets and make sales. If a firm is too ethical, it might lose competitive advantages. On the other hand, Ethisphere ’s World’s Most Ethical Companies index indicates ethical companies have better financial performance.
1. Ethical businesses are the most profitable.
2. The most ethical businesses are not the most profitable.
DEBATE ISSUE TAKE A STAND
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Chapter 1: The Importance of Business Ethics 19
When an organization has a strong ethical environment, it usually focuses on the core value of placing customers’ interests first. However, putting customers first does not mean the interests of employees, investors, and local communities should be ignored. An ethical culture that focuses on customers incorporates the interests of all employees, suppliers, and other interested parties in decisions and actions. Employees working in an ethical envi- ronment support and contribute to the process of understanding customers’ demands and concerns.
Ethics Contributes to Profits A company cannot nurture and develop an ethical culture unless it has achieved adequate financial performance in terms of profits. Businesses with greater resources—regardless of their staff size—have the means to practice social responsibility while serving their cus- tomers, valuing their employees, and establishing trust with the public. Ethical conduct toward customers builds a strong competitive position shown to positively affect business performance and product innovation. 49 Zappos values the well-being of its employees and gives them the freedom to provide high-quality customer service to its customers. For instance, call-center employees are given the freedom to spend as much time as needed to answer customer concerns. This emphasis on the customer enables the firm to fulfill its goal of being able to “deliver WOW through customer service.” It also made the firm widely successful, leading to its acquisition by Amazon.com in a $ 1.2 billion agreement. 50 Every day, business newspapers and magazines offer new examples of the consequences of business misconduct. It is worth noting, however, that most of these companies learned from their mistakes and recovered after they implemented programs to improve ethical and legal conduct
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Discussion Questions (DQ)
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- I encourage you to incorporate the readings from the week (as applicable) into your responses.
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- I highly recommend using the APA Publication Manual, 6th edition.
Use of Direct Quotes
- I discourage overutilization of direct quotes in DQs and assignments at the Masters’ level and deduct points accordingly.
- As Masters’ level students, it is important that you be able to critically analyze and interpret information from journal articles and other resources. Simply restating someone else’s words does not demonstrate an understanding of the content or critical analysis of the content.
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- Questions to Instructor Forum: This is a great place to ask course content or assignment questions. If you have a question, there is a good chance one of your peers does as well. This is a public forum for the class.
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