Business Ethics and Csr in the Context of Samsung

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

Every business develops a set of ethical principles that they abide by. The business ethical principles intentions: it construct the business certainty in the community , maintain the employees liveried in what the business attempt to have as structural conducts and aid the employees consume principles to make ethical choices that guards the business. In a culture with a diverse assessment structure and augmented judgment visibly by companies with changeable ethics and interests, there appears to be further difficulties on business individuals to make tougher ethical assessments. In our day-to-day performances, we depend on on our ethical principles to monitor us in the correct path and do the correct things. The substance of any efficacious and perpetual business is they segment a mutual ethical matter concentrating on presenting and generating value along with allocating their business values with the citizens they network with on a day-to-day basis.

M2(Unit 37) - Assess the social implications of business ethics facing a selected business in its different areas of activity

Finally, in the article “Why is Business Ethics Important” written by Dehorah Lawwill, talk about the understanding the importance of business ethics and the key to success of everyday life. Also, many customers, and employees can appreciate the honesty and the ethical practices within the company. Therefore, business ethics are very important to it as it helps employees to maintain a clean reputation within the

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 is the study of proper business policies, and practices regarding potential controversial issues. The issues may range from corporate governance, insider trading, bribery, discrimination, corporate and social responsibility. According to an article written by Curtis C. Verschoor, the ethical culture in the workplace is in transition in the U.S. The reason that business ethics is important is because with all employees it is expected that they do the right thing. If one person does something within the company, and it gets back to the public it can harm that company reputation. This could lead to a withdrawal of stakeholders, and loss of employees.

Furthermore, Business ethics is the application of ethical values to a business’ behaviour (IBE - Institute of Business Ethics, 2016). They are related to the issue of what is right and what is wrong in a business. The definition of business ethics may vary from business to business. The ethical standards of a business are a key factor in how the business is defined and is relevant both to the conduct of individuals and to the conduct of the organisations as a whole. Ethics can be thought of as how people act as an individual in a business, how they structure their organisation, the way they work and laws affecting business. Every company wants to be trusted and to have a good reputation, so companies set out a list of their own ethical codes (ACCA Blogs, 2014). Stakeholders want to be associated with responsible organisations and knowing a firm with a bad reputation may make it less appealing to them, resulting in profits

I believe that ethics in a business is important. In a case study by Cadbury Schweppes (2002), it is stated that ethical behavior has many benefits for the business. Ethical behavior can attract customers and in return, can boost sales and profits (Ethical business practices, 2002).. It can also reduce labor turnover and increase productivity because employees want to work and stay with the company (Ethical business practices, 2002). Finally, having ethical behaviors within a company will keep the share price high by attracting investors (Ethical business practices, 2002). If I owned a business, I would want to act in a way that would express my personal values and sense of right and wrong.

(Dr Ho & Dr Tee, 2013) This ethical issue have extended consequences, mixed outcomes and personal implication. There should be a right or proper balance between economic performance and social performance. (Dr Ho & Dr Tee, 2013) Hence, the management’s dilemma is to strike a balance between economic and social performance. (Dr Ho & Dr Tee, 2013) The one real ethical problem in management is the working condition. The working condition of Samsung is very bad and unsafe. This ethical problem will lead to the employees suffer from cancer and even death. Therefore, Samsung should via the economic, legal and ethical analysis to balance between economic and social performances. Samsung is only care about how to fulfil the need and demand of the customers. They do not care about the working condition of their factories and they are just concern their profits. Besides, they do not follow the law and always let their employees to work overtime. Samsung must provide a good and safe working condition and safety equipages to their employees as well as hire more employees to reduce the probability of their employees to work overtime. Try to get employees to work in a good working condition to ensure that their health is guaranteed. A good working condition allow their employees to work more efficiency and

Business ethics are moral principles that guide the way a business behaves. The same principles that determine an individual’s actions also apply to business. To practice ethics, it involves the understanding of right and wrong or making a right or wrong decision in business. The way business is run should be transparent and lawful (Mullins & Christy, 2013). For example, companies’ products should not violate copyright and patents. Also, they should not use child labour in any business operation.

Business ethics (2009) is defined as “moral principles defining how businesses and business professionals should act towards each other, employees, and the public.” In other words, ethics are needed in an organization because they determine

Business ethics is a multifaceted field that cannot be defined with a single definition. This area addresses numerous issues, problems, and dilemmas within the management of businesses. It does this through numerous perspectives and methods. Of course, in order to present the complexities of business ethics, we must explore the types of issues that business professionals are confronted with all the time. Business ethics not only portray to humans, but also to how businesses treat the environment.

After analysing Tata Steel's Corporate Social Responsibility and Corporate Governance, we came to know about many facts and figures which played a crucial role in forming our opinion about the company's ethical standards. Because when we talk about ethics, as mentioned here in violation of ethical standards, even a small thing or an issue leaves a bigger message in creating the goodwill or brand of the company.

Ethics is a philosophy which identifies the difference between right or wrong. It serves as a pathway in almost all walks of life with minor differences of behavioral approaches in domestic or corporate sectors. Similarly when we discuss about business ethics, several questions comes in our mind that to what extent is it necessary? How can it be implemented? What grounds are to be set to govern business ethics in an organization? And what is the importance of business ethics

“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.