Business Management Research Assignment (chapter 5 & 11)
Q1: The importance of ethics and values in business sustainability:
Ethics has to do with an individual’s judgment and their morals. Their ethics help us determine right from wrong. “Values are attitudes towards things like truths, justice, honesty etc.”( Nieuwenhuizen, Oosthuizen & Drotskie 2012:95)
Ethics and values are important within a business organisation because they influence morals and decisions within an organisation and need to be present in order to promote business sustainability. The decision to behave ethically is a moral decision and employees need to decide what is right and wrong in the organisation even though the decisions may be difficult it still needs to be done. The ethical decision making contributes to sustainability because the employees values and ethics will ensure the organisation generate the biggest profit possible ad at the same time keeping a good image for themselves. An example of this could be a cologne company such as Versace and they decide to test their new cologne on monkeys, this will make the public not want to buy the product because it was not produced in an ethical way so the organisation won’t generate maximum profit as whereby if they were ethical in their produce which would have ensured the business organisation to be sustainable.
Ethics can influence a business a business positively and negatively. If the employees are ethical and follow the organisations culture then it will benefit the business:
• Public image- if the organisation behaves in an ethical manner then the organisation will earn a lot of respect and this will bring in a lot of customers so more products and services will be sold leading which increases sales and profit. If the organisation values people’s needs over profit then they’ll create a strong public image and by doing this you gain more customers therefore maximising profits and promoting sustainability.
• Workers will want to stay in the organisation which will reduce turnover and increase productivity.
• Employees from other companies will be interested in working for your organisation. The organisation will have more talent to choose from which will increase the potential for productivity and therefore promote sustainability.
• Investors will be more interested in the organisation and this will protect the organisation from being taken over and by doing this the business organisation is cemented as a whole and sustainable.
• Assets protected-if workers abide by the ethics of the workplace then they’ll respect and protect the organisations assets. An example is if workers respect the workplace and are governed by morals then they wouldn’t make personal long distance calls with the company’s resources and this would ensure the organisation stays sustainable. Another example could be if employees abuse the workplaces internet by always using the Wi-Fi and downloading personal things, this is an example of not...