An Evaluation Of The Business Lego

Business Ethics are defined as “moral principles that guide the way a business behaves” (Businesscasestudies, 2017). In order for any business or individual to act in an ethical

Sustainability from a strategic business perspective is the potential for the long-term well-being of the natural environment, including all biological entities, as mutually beneficial interactions among nature and individuals, organizations, and business strategies. (O.C Ferrell, Fraedrich, Ferrell, 2015). Business sustainably is often defined as managing the triple bottom line – a process by which companies manage their financial, social and environmental risks, obligations and opportunities. These three impacts are sometimes referred to as profits, people and planet. (Business sustainability definition from financial times lexicon, no date). This essay will discuss the idea of sustainability being an important element within a businesses and its core strategies and the importance of it within different businesses. Secondly, this study will look at how different stakeholders are affected and influenced by sustainability as this could be seen as a catalyst to improving the environment as a whole and. Then this study will look at how businesses not focusing

Both key elements have an interactive relationship that helps in building profitable businesses, as well as a well-rounded community. Ethics refers to set of beliefs about right and wrong, good and bad. Therefore, Good ethical practice help build our business, as well as help our staff members to make ethical decisions. The decision of each official can affect the entire organization. Whereas, most people come from different background and culture which also plays a vital role in shaping their ethics. Business ethics involves the application of the issues in the workplace. While much unethical behavior is illegal, one important role of business ethics is to manage behavior that cannot be covered by government laws. The universal ethical standards, which involve respect, responsibility, and citizenship, are rules that apply to people and should be held high within the workplace. Social responsibility is the obligation of a business to contribute to society. The cheesecake restaurant social responsibility affects the environment, customers, investors, and our employees. (Bruning, 2014)

Most people assume that the term ethics refers to the business as a whole. Business ethics apply to the individuals working within businesses. Each individual's action within the company affects the entire company, not just the individual. When any person associated with a business acts ethically and responsibly, it helps the entire organization.

1. From early 1990s to 2004, the Lego Group, a long successful toymaker with a world-renowned brand, fell into the edge of bankruptcy. Compared with the highest revenue in 1999, the revenue in 2014 decreased by 35.6% while the net profit was negative, seven times less than that in 1999, the lowest in the past ten years. Its net profit margin and ROE were also the lowest. The gross margin and inventory turnover were all lower than its competitors. The strategic moves in the two main periods “growth period that wasn’t” (1993-1998) and the “fix that wasn’t” (1999-2004) lead to its poor performance.

Business Ethics is a set of moral principles applied in the commercial world. Business ethics provide guidelines for acceptable behavior by organizations in both their strategy formulation and day-to-day operations. An ethical approach is becoming necessary both for corporate success and a positive corporate image. Following pressure from

Business ethics refers to the consideration of moral decisions and responsibilities in the process of operating a business. Business ethics, practiced throughout the deepest layers of a company, become the heart and soul of the company 's culture and can mean the difference between success and failure. Values drive behavior and therefore need to be consciously stated, but they also need to be affirmed by actions. Ethical business environments are created with foundations of integrity, accountability and commitment.

Ethics are a set of well found principles that control the doings of businesses or humans whether morally acceptable or not. One should consistently attempt to keep a check on their own ethical values and maintain their standards in order to be well reputed for the work they are engaged in. The values followed by them will affect the companies they are working for and based on them will the businesses have a downfall or progress.

Ethical responsibility is what keep the company in line to do what is right. It is important that the company performs societal and ethical manners in order

LEGO has been in the toy industry since the Great Depression when Danish carpenter Ole Kirk Kristiansen and his sons began making wooden toys (Bigus, 2011). Showing ingenuitive spirit, after the end of World War II, LEGO became the first company in Denmark to purchase a plastic injection molding machine, this was an expensive moving hinging on the risk that plastic toys were the toy of the future (Bigus, 2011). Soon after the purchase, LEGO expanded its business to include the first plastic LEGO bricks (Bigus, 2011). Godtfred Kirk Christiansen, one of Kristensen 's sons observed during the toy fair of 1954 a new way to market LEGO as a system of play so that the toys could be used separately or together to build large projects

The LEGO Group is a privately held company that is family owned. It’s headquartered in Billund, Denmark and has main offices located in China, London, Shanghai, Singapore, the United Kingdom, and the United States. It was founded in 1932 by Ole Kirk Christiansen in a carpenter shop that eventually lead to the LEGO we all know today. Most of their products are based off the trademarked LEGO brick. The name of the company is a combination of two danish words, “leg godt”, which translates into play well. The company was passed from father to son and continues to remain family owned by Kjeld Kirk Kristiansen, grandchild of the original founder.

This essay will consider firstly the position of Lego in relation to both the constraints of the internal and external

Business ethics examines ethical principles and moral or ethical problems that arise in a business environment. Business ethics often encompasses many concerns such social responsibility, sustainability, labour practices and environmental development. Business ethics as a concept fundamentally applies to all aspects of business conduct and is relevant to the behavior of individuals and entire organizations. Desjardins (2011) suggests that business ethics is the study of business from an ethical viewpoint. It is about organisational conduct and the ethical consequences of business behaviour. Companies can define ethical business values by outlining clear examples of right or wrong, thus used as a way to guide the behavior of an organization. Carroll (1979) notes that the social responsibility of a business includes legal and ethical expectations that society has of organizations. Their legal responsibility is their obligations to fulfil their economic mission within the confines of the law. Their ethical responsibility is to act as a way to maintain the license to operate (Carroll 1999) which is why core values of business should be in line with core values of society. The World Business Council for Sustainable Business states that businesses have and should have a continuing commitment to behave ethically (Holme and Watts, 2000). Market economies once became stagnant which is an external pressure of business ethics, the concept was no longer the focus of a duty to society or

In today’s world, Corporate Social Responsibility (CSR) has been one of the topics that every company must be concerned with. It is usually viewed as a legal obligation for every company to create social benefits alongside with the profit gains (Peng and Meyer 2011, p.297). CSR is a crucial factor for our society and environment. If there is no campaign to encourage us to save our planet, how can people be aware and know theirs obligation to save the world. This paper will explain the meaning of corporate social responsibility, advantages and disadvantages of CSR through the example of The Body Shop. In addition,

“As a branch of ethics the field of business ethics is interested in how judgments of right and wrong, good and bad, moral obligation and responsibility, rights and duties, and the like, are made and justified” (Gill, David). As a descriptive enterprise, business ethics is an analytical exercise in understanding and explaining how people and businesses make their ethical judgments and decisions. If your business does not carry the proper ethics it cannot thrive. It takes the necessary steps within the business management to enforce these ethics upon their business. The field of business ethics is interested in more than just social and environmental responsibilities but those are certainly critical component areas.