Business Ethics Essay Example | Topics and Well Written Essays - 2250 words - 1

Business Ethics - Essay ExampleThe main body of the essay will be structured utilise the STAR format. According to Kotler & Armstrong (2004, p. 127), written regulations cannot possibly cover all potential marketing abuses and going laws may be difficult to enforce. However, beyond the written laws and regulations, furrow is also governed by social codes and rules of professional ethics. Therefore, companies that are enlightened always encourage their managers to focus on doing the right things always for the betterment of the political party. It is imperative for businesses to look for to create a balance between the goals of the organisation as well as its CSR initiatives. Careful consideration should always be taken given that thither are often conflicting interests whereby certain situations can give rise to disagreements or so the right course of action that can be taken in a given situation. Ethics Basically, business ethics refers to the values, principles and standards that operate within business and these attempt to make a distinction between something that is morally erect from bad (Rossouw, 2004). As such, values can be described as the essential and enduring tenets that help define the company and are not to be compromised for financial gain or short term expediency, (DesJardins, 2006, p.5). Cultural environments in which organisations operate shape the values of the organisations given that there are many forces that profess the way people behave such as perceptions about situations, preferences as well as attitudes which influence people to behave in a incident way (Kotler & Armstrong, 2004). It can be noted that there are different types of values in the organisation such as financial, political, historical as well as cultural. Corporate social responsibility On the other hand, the plan of corporate social responsibility (CSR) suggests that there is need for an organisation to establish saving grace with the values and norms of a par ticular society in which it would be operating. Whilst there is no agreed definition of the concept of CSR, it has been defined as a service that transcends but includes making profits, creating jobs and producing goods and services that satisfy the needs and interests of the stakeholders (Oketch 2005 as cited in Smith 2003). Strydom (2004, p.11) suggests that CSR is the concept that maintains that businesses are part of the larger society in which they exist and are accountable to the society for their operations. This means that there is need for the organisations to try to build a relationship between the goals and objectives of the organisation, needs and interests of the stakeholders and the society at large. This concept is also related to ethical issues in the organisation. Situation In this particular case, Gino, the CEO of DMBC intends to divide the windfall of the company between the new CSR program pore on Batten disease and employee bonuses. This follows the diagnosis of his daughter with Batten disease and this is the major reason why he is pushing for this initiative. However, of notable concern is that the company had not given any pay rises to the employees for almost three years and in some instances, it had been forced to cut salaries for the employees but it seems that Gino is more concerned about the welfare of his daughter at the