Discuss about the Self-Reflection for Corporate Responsibilities.
The lessons that have been taken up by me, on ethics and sustainability. Business ethics is important to be imparted such that ethical decision making and lessons on emerging business ethics could be learned. In these lessons, the various chapters that are learned include emerging business ethical issues, ethical decision making, stakeholder relationships, corporate social responsibilities. I have learnt the philosophies and values that have to be incorporated at a personal level, to ensure ethical business. I have also learned about ethical leadership and globalization of the ethical decision-making. Thus, these lessons are important for me. The knowledge imparted is essential to ensure ethical business and decision-making.
I have learned about the importance of ethics in business. The importance of the identification of the various stakeholders in a business has been described in the lessons. Stakeholders are defined as people who possess a stake or claim on a company and have an active participation in the company’s operations. I have gained knowledge about the various theories of stakeholder analysis. These include the normative approach, the descriptive apporch and the instrumental approach. The stakeholders are mainly of two types, the primary and secondary stakeholders. The primary stakeholders are the people, whose contributions are essential for the survival of the company. The secondary stakeholders do not engage directly in the transactions of the companies. Social corporate responsibilities have to be taken up by the business organizations, in order to gain competitive advantages, and establish them as sustainable business. The foundation values for identifying the ethical issues include integrity, honesty as well as fairness. The various ethical issues identified in business includes misuse of the various resources of the company, along with theft, assault or false accusation. Bribery and discrimination are also some of the ethical business issues that the employees should refrain. The various kinds of frauds that take place in business are also shed light upon in the lessons learned by me. Ethical decision-making are important from business perspective. I have understood the significance of ethical decision-making and learned about various decision-making practices. Knowledge about ethical decisions will help me make good decisions, which are useful from the business perspective.
The lessons learned by me includes the incorporation of values and morale that needs to be incorporated by individuals, such that ethical group decisions could be taken up. The various stages of cognitive morale development and its challenges are also learned. I have developed ideas regarding the white-collar crimes that take place in business and the philosophies and values that are important to be incorporated. I have developed a clear idea regarding the responsibility of the corporation regarding the stakeholders. The needs for business ethics programs have also been understood. The requirements for the ethics and compliance programs include the various standards and procedures, high-level personnel, training programs given to the employees, consistent enforcement of the standards. I have also become aware of the various codes of conduct that needs to be followed in business. Every business organization needs to ensure that the employees abide by the ethical considerations successfully, such that the ethical issues could be mitigated. Moreover, I have learned the importance of abidance with the ethical and legal policies in order to ensure compliance with the ethical considerations. Ethical auditing needs to be conducted in the business organization such that the benefits of the ethical audition could be implemented in the business organizations. The various control systems in the business ethics includes the formal control, process control as well as the output control. I have developed a clear idea, regarding the importance of these controls in the business ethics.
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Halinen, Aino, and Päivi Jokela. "Exploring Ethics in Business Networks: Propositions for Future Research." In Extending the Business Network Approach, pp. 333-356. Palgrave Macmillan UK, 2016.
Hoffman, W. Michael, Robert E. Frederick, and Mark S. Schwartz, eds. Business ethics: Readings and cases in corporate morality. John Wiley & Sons, 2014.
Ward, Sharon, Scott Killingsworth, Andrew Leigh, Anthony Smith Meyer, Ludo Van der Heyden, and Phillip Weights. "Ethics in Business." Business Compliance 4, no. 3-4 (2015): 75-91.
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