fair trade and financial and social contributions. Other areas dealt with in this report will examine Ikeas corporate culture in the areas of personal attitudes‚ whistle blowing and its ethics in sales and marketing. In the modern worlds socially conscious business environment it is unwise for any large business organizations to limit its concerns to increasing profits. With the rise of the socially active and political aware consumer‚ companies in addition to their economic and legal obligations
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An Assignment of Business Ethics & Corporate Governance CASE STUDIES Module I BHOPAL GAS TRAGEDY December 3‚ 2009‚ marked the 25th anniversary of the world’s worst ever industrial disaster - the gas leak that occurred at Union Carbide India Ltd’s (UCIL) pesticide plant in Bhopal (Madhya Pradesh‚ India). The tragedy that instantly killed more than 3‚000 people and left thousands injured and affected for life‚ occurred when water entered Methyl Isocyanate (MIC) storage tank No. 610
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Strategic ethics and social responsibility are two of the most important‚ yet perhaps most misunderstood concerns in the world of business today. By their very nature‚ these fields are controversial‚ and there is no universally accepted approach for solving their questions. On the other hand‚ government is encouraging organizational accountability for ethical conduct‚ and organisations are being asked to prevent and control misconduct by implementing ethics programs. By defining strategic ethics‚ we can
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Chapter 1 Business Ethics- principles‚ values‚ and standards that guide behavior in the world of business Principles- specific pervasive boundaries for behavior that are universal and absolute (freedom‚ speech‚ equal rights) –the basis for rules Values- used to develop norms that are socially enforced (integrity‚ trust‚ accountability) Development of business ethics Before 1960’s: -Questioning capitalism -“living wage” income -New Deal-blaming business for economic woes -Individual
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statements are not transparent‚ investors can never be sure about a company ’s real fundamentals and true risk” (McClure‚ 2010). Transparency has even become more of a necessity since companies like Enron and many others showed the world that complex business structures and unclear financials just hide bad news. It is very helpful to imagine your customer as a member of your family. In most cases people would never want anything bad to happen to their family. No one wants their family to have
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Business ethics compromises of the principle and standards that guide behavior in the world of business. These principles and standards are usually set by different groups outside the business example interest group‚employees‚customers‚legal system etc.that determine whether a business will fail/accepted by society. It evaluates business actions‚ whether individual or collective‚ in the light of their moral adequacy. When considering questions of ethics in business‚ there is a primary
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Journal of Management and Business Research Volume 12 Issue 13 Version 1.0 Year 2012 Type: Double Blind Peer Reviewed International Research Journal Publisher: Global Journals Inc. (USA) Online ISSN: 2249-4588 & Print ISSN: 0975-5853 A Case Study of Siemens’ Violation of Business Ethics in Argentine Based On Stakeholder Theory By Zhu Wenzhong & Fu Limin Guangdong University of Foreign Studies (GDUFS) Abstract - Hand in hand with prosper of International business brought by globalization
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What do ethics/morality in business mean? Difference between success and failure! The most important attribute that distinguishes business long-term success‚ are the practices of admirable business ethics/morality‚ which are then interpreted as the integrity of the company. So in essence‚ ethics/morality in business is the behavioral aspect that dictates all dealings within their world. In the business world most ownership or management groups‚ describe this function in three ways‚ avoiding breaking
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concepts virtually depends upon the beliefs and morals that a person has obtained throughout their upbringing. Many things such as religion‚ friends‚ personal beliefs‚ family and a collage of other things keep people grounded to their personal and business values. All these things become instilled in a person over the course of time. It sort of becomes second nature for most individuals once it is taught to them. This by any means does not make the decision-making process any easier‚ but it does help
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shaken in recent years with news of countless corporate scandals. With the business principals and ethics of these corporate leaders under scrutiny‚ both the corporate and academic communities have begun to examine what exactly is being taught to undergraduate business students. A noticeable flaw in the curriculum of most business degree programs is a lack of required ethics courses. To ensure that undergraduate business students develop a proper ethical foundation to survive in the socially responsible
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