Eth 501 Case 4
Trident University International
ETH 501 – Business Ethics
Dr. Susan Gun
Introduction In the fourth module case we will discuss ethical business behavior. Inside of this case we will examine two different companies in Anglo-American and Primark and how they are applying ethical business behavior. Next we will discuss the cost and benefits, if any is gained by an organization. Lastly we will determine the relationship of external stakeholder relationship and how this relationship helps Anglo-American and Primark have a positive relationship with its stockholders.
Ethical business behavior Ethical business behavior is defined by business dictionary.com as acting in ways consistent with what society and individuals typically think are good values (Business Dictionary.com). Ethical behavior tends to be good for business and involves demonstrating respect for key moral principles that include honesty, fairness, equality, dignity, diversity and individual rights (Business Dictionary.com). This means that others will agree with your value system. It also demonstrates that the businesses must have moral principles that govern them into how they are conducting business. This is evident in some businesses by just looking at their mission statement. I will give the example of Goodwill’s mission statement in which it states “Goodwill works to enhance the dignity and quality of life of individuals and families by strengthening communities, eliminating barriers to opportunity (Goodwill Industries International, Inc).” This sounds like the exact thing that Goodwill provides for all of its customers. Applications in business ethics are the following: providing the safest work environment possible for your employees, paying a fair competitive wage for the work that is being completed and making sure that all labor laws are being followed for the respective region.
Anglo-American Ethical Practice Anglo-American is the first company that we are
ETH 501 – Business Ethics
Dr. Susan Gun
Introduction In the fourth module case we will discuss ethical business behavior. Inside of this case we will examine two different companies in Anglo-American and Primark and how they are applying ethical business behavior. Next we will discuss the cost and benefits, if any is gained by an organization. Lastly we will determine the relationship of external stakeholder relationship and how this relationship helps Anglo-American and Primark have a positive relationship with its stockholders.
Ethical business behavior Ethical business behavior is defined by business dictionary.com as acting in ways consistent with what society and individuals typically think are good values (Business Dictionary.com). Ethical behavior tends to be good for business and involves demonstrating respect for key moral principles that include honesty, fairness, equality, dignity, diversity and individual rights (Business Dictionary.com). This means that others will agree with your value system. It also demonstrates that the businesses must have moral principles that govern them into how they are conducting business. This is evident in some businesses by just looking at their mission statement. I will give the example of Goodwill’s mission statement in which it states “Goodwill works to enhance the dignity and quality of life of individuals and families by strengthening communities, eliminating barriers to opportunity (Goodwill Industries International, Inc).” This sounds like the exact thing that Goodwill provides for all of its customers. Applications in business ethics are the following: providing the safest work environment possible for your employees, paying a fair competitive wage for the work that is being completed and making sure that all labor laws are being followed for the respective region.
Anglo-American Ethical Practice Anglo-American is the first company that we are
Cited: Anglo American Corporation. (n.d.). Anglo American - Anglo American completes acquisition of De Beers. Retrieved January 7, 2013, from Anglo American Press Releases: http://www.angloamerican.com/media/releases/2012pr/2012-08-16 Business Dictionary.com