Preview

Business Ethics

Good Essays
Open Document
Open Document
670 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Business Ethics
BPMN3123 – MANAGEMENT ETHICS
TUTORIAL 1

1. Advantages and disadvantages of ethics in business. [Apakah kebaikan dan keburukan mengamalkan etika dalam perniagaan?]
Advantages
Business ethics offer companies a competitive advantage. Consumers learn to trust ethical brands and remain loyal to them, even during difficult periods. In 1982, Johnson & Johnson spent over $100 million dollars recalling Tylenol, its best-selling product, after someone tampered with bottles of the painkiller. The company followed its credo, a set of ethical organizational values, and the result was a boost in consumer confidence, despite the contamination scare. Society benefits from business ethics because ethical companies recognize their social responsibilities.
Build Customer Loyalty
Consumers may let a company take advantage of them once, but if they believe they have been treated unfairly, such as by being overcharged, they will not be repeat customers. Having a loyal customer base is one of the keys to long-range business success because serving an existing customer doesn’t involve marketing cost, as does acquiring a new one. A company’s reputation for ethical behavior can help it create a more positive image in the marketplace, which can bring in new customers through word-of-mouth referrals. Conversely, a reputation for unethical dealings hurts the company’s chances to obtain new customers, particularly in this age of social networking when dissatisfied customers can quickly disseminate information about the negative experience they had.
Retain Good Employees
Talented individuals at all levels of an organization want to be compensated fairly for their work and dedication. They want career advancement within the organization to be based on the quality of the work they do and not on favoritism. They want to be part of a company whose management team tells them the truth about what is going on, such as when layoffs or reorganizations are being contemplated. Companies

You May Also Find These Documents Helpful

  • Powerful Essays

    Business Ethics

    • 2743 Words
    • 11 Pages

    Galen McDowell was a good salesperson who knew how to purchase the higher performances out of the salespeople under him. Bob wanted to sign a big contract with Kinan Motor who was his potential client, so he gave this assignment to Galen, and Galen got this opportunity to promote his value to the organisation. Then he made the plan to take them to a strip club which is called Red Ruby.…

    • 2743 Words
    • 11 Pages
    Powerful Essays
  • Good Essays

    Business Ethics

    • 664 Words
    • 3 Pages

    CH2O is a company that blends chemicals to create products such as acid cleaners, and then ships the blended chemicals in drums to the customers. After the drums containing the chemicals reaches the customer, CH2O asked that the customer returned the drums to be reused. Once the drums were returned, the company cleaned the drums themselves, and wastewater was produced in the process. Because the local sewer authority would not accept the wastewater, CH2O discharged the wastewater illegally by means of an apartment complex drain and a warehouse owned by the company. CH2O continued to dispose of the produced wastewater by these means until 1995, when investigations emerged on CH2O for discharging pollutants into the sewer. Iverson, the founder, president, and chairmen of the board for CH2O, was charged with four counts of violating the Clean Water Act (CWA), the Washington Administrative Code (WAC), and the City of Olympia’s Municipal Code (Olympia Code), and was found guilty. Iverson then appealed the case, but his arguments were found to be invalid.…

    • 664 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    Business Ethics

    • 1977 Words
    • 8 Pages

    Three general principles will guide the move towards sustainability. Firms and industries must become more efficient in using natural resources; they should model their entire production process on biological processes; and they should emphasize the production of services rather than products. Versions of the first principle, sometimes called eco- efficiency, have long been a part of the environmental movement. "Doing more with less" has been an environmental guideline for decades.…

    • 1977 Words
    • 8 Pages
    Powerful Essays
  • Satisfactory Essays

    Business Ethics

    • 764 Words
    • 4 Pages

    A: Karl has to deal with some ethical and possibly legal issues in the marketing of his game “Breakaway”. It is an issue ethically simply because he himself has to find out it is suitable to market a game that primarily gives its focus on nudity, violence, and gambling. When it comes to legal issues, is it legal to market these things in foreign countries and on the Internet? This is what he needs come to reality with and needs to think about. If they have the ability to market this game in other countries, then they would have to change different parts of the game for the countries that Will has looked into targeting the game.…

    • 764 Words
    • 4 Pages
    Satisfactory Essays
  • Powerful Essays

    Business Ethics

    • 1328 Words
    • 6 Pages

    Economist define declining marginal utility of money as the following a utility is a definitions used to explain how much value…

    • 1328 Words
    • 6 Pages
    Powerful Essays
  • Good Essays

    Business Ethics

    • 501 Words
    • 3 Pages

    The Resistol were produced by H.B Fuller company, a global manufacture of adhesives, sealants, and other specialty chemicals, and had operations in over 40 countries in North America, Europe, Asia and Latin America. H.B Fuller was a very profitable company. Honduras and Guatemala are two countries where fuller markets it glue products and the two countries where Resistol abuse is most pronounced. More than a third of people in Honduras and Guatemala were below poverty, and this economic condition directly affected to Family Life situation, commonly unstable, stressful conditions, husbands abandoned their wives and children. The countless children ran away from home life and roamed the city street, street children uses glue (H.B Fuller) by sniffing them (glue addicted) as the way to get-away from their real life condition. The misuse one of the adhesives, Resistol, a toluene base glue, by the street children of America, where the social economic was taking part of this situation. For years H.B Fuller had been pressure by child advocate groups in Central America and the United States, and encouraged the company to minute amounts of mustard seed-oil a common food additive, reported virtually eliminated abuse of its glue. In March 1989 legislature of Honduras passed decree 36-89 which banned importing or manufacturing solvent based adhesives that did not contain mustard oil. This situation surely disadvantages for H.B Fuller company business environment , H.B. Fuller subsidiary began lobbied the government to have the law revoked, brought some data and showed by adding the mustard seed oil caused; reduce the glue effectiveness, the smell would irritating to legitimate user, the substance was potentially carciogenic. H.B Fuller also took several actions related to help to prevent glue addiction for street children, in order to reduce the availability of glue to children they discontinued selling the…

    • 501 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    Business Ethics

    • 1219 Words
    • 5 Pages

    • Jonica Gunson is the environmental compliance manager for a small plastics manufacturing company. She is currently faced with the decision whether or not to spend money on new technology that will reduce the level of a particular toxin in the wastewater that flows out the back of the factory and into a lake. • The factory's emission levels are already within legal limits. However, Jonica knows that environmental regulations for this particular toxin are lagging behind scientific evidence. In fact, a scientist from the university had been quoted in the newspaper recently, saying that if emission levels stayed at this level, the fish in the lakes and rivers in the area might soon have to be declared unsafe for human consumption.…

    • 1219 Words
    • 5 Pages
    Satisfactory Essays
  • Satisfactory Essays

    In the textbook, author also thinks that the business ethic is important for the development of a company. The ability to recognize and deal with complex business ethic issues has become a significant priority in twenty-first –century companies. Ethical decisions are a part of everyday life for those who work in organizations. Making good ethical decision is just as important to business success as mastering marketing, finance and accounting decisions. Business ethics have a lot of benefits. It contributes to employment…

    • 749 Words
    • 3 Pages
    Satisfactory Essays
  • Powerful Essays

    Business ethics offer companies a competitive advantage. Consumers learn to trust ethical brands and remain loyal to them, even during difficult periods. In 1982, Johnson & Johnson spent over $100 million dollars recalling Tylenol, its best-selling product, after someone tampered with bottles of the painkiller. The company followed its credo, a set of ethical organizational values, and the result was a boost in consumer confidence, despite the contamination scare. Society benefits from business ethics because ethical companies recognize their social responsibilities.…

    • 1741 Words
    • 7 Pages
    Powerful Essays
  • Good Essays

    business ethics

    • 785 Words
    • 2 Pages

    The book Ordinary People, Extraordinary Leader was written by Michael Zigarelli. It is a very different leadership book compare with our textbook Global 2, which was written by Mike W. Peng. This is a book to tell that what do Christians actually do when they are leaders or managers. In addition, the author is trying to use sound quantitative and qualitative research methods to discover that how do those Christian leaders put their faith into practice in the workplace. And through the whole book, the author has introduced some new management/leadership concepts from those successful Christian leaders’ many years of experience, in order to help other Christian managers to learn.…

    • 785 Words
    • 2 Pages
    Good Essays
  • Satisfactory Essays

    Benefits of Ethics

    • 430 Words
    • 2 Pages

    Many people are used to reading or hearing of the moral benefits of attention to business ethics. However, there are other types of benefits, as well. Firstly, Attention to business ethics has substantially improved society. A matter of decades ago, children in our country worked 16-hour days. Workers’ limbs were torn off and disabled workers were condemned to poverty and often to starvation. Trusts controlled some markets to the extent that prices were fixed and small businesses choked out. Price fixing crippled normal market forces. Employees were terminated based on personalities. Influence was applied through intimidation and harassment. Then society reacted and demanded that businesses place high value on fairness and equal rights. Anti-trust laws were instituted. Government agencies were established. Unions were organized. Laws and regulations were established.…

    • 430 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    Business Ethics

    • 11122 Words
    • 34 Pages

    A. For a rule to me a moral rule, it must prescribe to us categorically and not hypothetically. A moral rule prescribes what we ought to do without reference to any purpose or consequences. A hypothetical prescription or imperative only tells us what we ought to do if we wish to achieve certain code ends. So naturally, if we did not seek these ends, it will lose prescriptive force upon the ends a person seeks. Thus a moral rule is not contingent upon ends. Therefore a moral rule must prescribe to us independently of our ends, that is categorical.…

    • 11122 Words
    • 34 Pages
    Powerful Essays
  • Good Essays

    Business Ethics

    • 930 Words
    • 4 Pages

    This essay analyses the business ethics required in the marketing strategies. In most marketing strategies, ethics is an issue that is overlooked due to its implications on profit margins. In this study, there are several implications of ethics in marketing strategies. Various stakeholders trying to improve their sales through promotion and marketing, amid regulations requiring that they practice business ethics in their practices. Ethics is an accepted way of doing things; with high regards to the community or people associated. In business, it is the perfect way of doing business where none is affected unfairly. Competition may cause legal and ethical issues in business; however, the check and fairness should be the outcome of actions in regard to public conception.…

    • 930 Words
    • 4 Pages
    Good Essays
  • Good Essays

    business ethics

    • 610 Words
    • 3 Pages

    rested in large part on its ability to exploit economies of scale and its efficient supply…

    • 610 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    Business Ethics

    • 2124 Words
    • 9 Pages

    Situational Factors. People adjust their ethics to suit certain circumstances. For instance, Sally in the example above, would probably have changed her…

    • 2124 Words
    • 9 Pages
    Satisfactory Essays

Related Topics