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MNG81001 Management Communication Solved

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Ethics and social responsibility coupled with legal requirements of firms fused dictates the corporate conduct. Corporate behavior has its basis in principles as well as CSR within legal boundaries (Schrempf-Stirling, 2016). The business should not only consider the internal and external implications of its operations but also strive to meet their requirements in its operations. Thus we see that the room for profit orientation of the corpora engaging in ethical responsibility is constricted.

The Hyundai companies consist of two main lines of production which are the heavy machinery and the motor industries. Initially owned by two brothers, Chung Mong-Koo and Chung Mong Hun. Mr. Hun allegedly committed suicide after his dealings with the North Korea were uncovered. Mr. Hun had purportedly been paying the North Korean president to attain tenders to build major projects for the state. Mr. Koo on the other and dealt in fraudulent accounts from which he sourced funds to bribe government officials so as win tenders. On uncovering these crimes, an investigation was launched against the chairman Mr. Koo and his vice chair Mr. Kim Don Jin (Hwang, 2016).

 In history, the companies have had dark patches where ethics in operations of the firms were in question. Embezzling and illegal dealings stain the past of the Hyundai brand which brought about the need for ethically responsible management practices (Hwang, 2016). These sections ensure that the company deals ethically with all its stakeholders and society.

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