Is Puma Inc. an Ethical Company? Business ethics simply can be defined as the application of business values in the business practice of a company (Seawell 2010, p. 2). For a multinational company, business ethics is one of the critical aspects need to be taken into account in business decision-making processes. Failure to give attention on ethics may bring consequences on company’s reputation (Meyer & Jebe 2010, p. 159). The company is expected not only to pursue its own profits but also contributing to the environmental and social welfare of the community where it operates (Svensson & Wood 2008, p. 308).
Puma Inc. (Puma) is a multinational sporting goods company which designs and develops footwear, apparel and accessories. The Puma
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The purpose of this essay is to assess whether Puma can be considered as an ethical company in conducting its business activities.
Environtmental aspect Global warming, water pollutions and droughts are some environmental problems facing by human beings recently. Besides because of humans’ behaviour toward their environment, there is no doubt that factories also take part in polluting it. Thus, they morally oblige to involve in addressing these environmental problems and preserving and protecting the environment from further destruction. Business should take part in giving the solutions instead of being a part of the problems (Hoffman 1991, p. 137). As part of its commitment to contribute to creating a better world, Puma implements a program named Puma.Safe Ecology, which is focused to environmental issues (Puma 2012, p. 15). It acknowledges that all aspects of its operations need supports of natural resources, such as fresh water, clean air and land, and more or less bring impacts on them (Puma 2012, p. 37). Thus in its code of ethics, the company is aware of its responsibility to protect the environment from damage and to run its activities in line with the concept of sustainability (Puma 2012a). This principle of protecting the environment is also adopted to its supplier’s code of conduct (Puma 2012b). The Puma claimed that it made serious efforts to address environmental problems dealt with
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
Ethics in business addresses the ‘right’ and ‘wrong’ behaviours of business practises, and how these practices impact the employees, shareholders, the general public and the environment.
According to Omidyar & Branson (2016), business ethics are called as corporate ethics which is a set of rules that define the right and wrong behaviour. From the research, ethics are a form of applied ethic that can be used to evaluate whether the conduct of the people are considered acceptable and appropriate. Besides, business ethics are the collective values of a business organization that can be used to evaluate whether the behaviour of the collective members of the organization are considered acceptable and appropriate. In the most basic term, a definition for business ethics boils down to knowing the difference between right and wrong and choosing to do what is right.
Business ethics and values have developed through time and crosswise over orders into a field, which is a standout amongst the most vital subjects in the field of business. For the authentic improvement of business morals, it is vital, to begin with, a meaning of business ethics and values in a worldwide setting (Savage, 2005). The study characterize business ethics and values from an administrative viewpoint as choices about what is correct or wrong (worthy or unsuitable) in the authoritative setting of arranging and actualizing business exercises in a worldwide business condition to profit (Child, 2015). The development
In the business world companies will run into times that they have to make decision based on ethics. This outcome may not be illegal, but unethical, which is just as important when running a business. Business Ethics is the concept of distinguishing between right and wrong and then making the right choice. The right choice may not always be the easiest or best alternative for the organization financially, but it is the greatest option for the company and its shareholders overall. The idea of business ethics is important to create trust between consumers, the community, and others involved with a given organization.
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.
In places such as South America where deforestation is prominent, nations should conserve and protect more land. For the sake of water quality, it is right for the agriculture industry to cut back on the use of harmful fertilizers and pesticides. In countries where many forms of air pollution are unregulated, it is ethical for these nations to set more restrictions on pollutants such as PM. Just as with other air pollutants, it is right for countries to regulate greenhouse gases like carbon dioxide in order to slow the rate of climate change. While these decisions are ethical, nations will not make them without a cost. Connections between modern industries and pollution are prominent, and change will be difficult. For this reason, governments must break down the wall separating conservation and advancement. Although some may believe they will have no effect on climate change, the United States should take greater steps in becoming a global leader of environmentalism. Looking ahead, by neglecting to protect the environment, the future will hold destructive costs. Like a bomb counting down to its last minutes, the world does not have much time left. Overall, if humans continue to place business before the environment, there will be no turning
Business Ethics can be defined as the critical and structured examination of how people & institutions should behave in the commerce world. Furthermore, it particularises the involvement of examining appropriate limitations upon the pursuit of complete self-interest; however, this may also apply for firm profits when the actions of each individual or firm affects others in some form. If the business really has no ethics, it can be concluded that the environment will suffer since the intention of business growth is far greater than environmental responsibility.
International business ethics challenges the corporate world to deal with questions of what to do in situations where ethical standards come into conflict as a result of the different cultural practices in the nation. Since, there is this dilemma that has progressively troubled the large multinational corporations, international business ethics has arisen to help address these adhesive subject matters. There are several international business ethics discussions on the question of how to act in the home country as opposed to the host country is at the central point of most international corporations. The argument in question is how companies should practice their business according
The topic of this paper is business ethics within Gap Inc., a multinational retail – clothing company. The foundation of its corporate ethical approach is summarized in the Code of Conduct . This paper outlines the ethical problems Gap Inc. faced in the last years and more important, the solutions they found in order to remain a successful company. It shows how large companies deal with common issues like child labour and sweatshops.
Environmental damage that is caused by just one individual is exclusively minor which causes it to be unnoticed, whereas a major group of people, such as a large corporation harming the environment at once causes major harm to society. More than a century of industrial development has caused negative environmental impacts such as global warming, ozone depletion, and air and water pollution. These are recognized as global environmental problems that need immediate solutions. Climate change, as an international environmental issue, is getting a great deal of attention as it has become a global issue. In the last few decades, there has been a heightened awareness of environmental issues by governments, policy makers, advocacy groups, business firms, and the public all over the world. The corporate role in this, the potentially most severe and all-encompassing of environmental disasters, is quite clear as business activities are effecting climate change negatively. This paper will argue that in order to minimize the negative effect of environmental harm and climate change, the undertakings of corporations should be structured and encouraged to perform in a socially responsible manner. This will be examined through the discussion on the legal structure of corporations and the desire of regulators and victims looking to hold them accountable for their environmental harm. It will be followed with a description of the importance of corporate social responsibility. This
PUMA is counted in the leading sports lifestyle companies of the world and is famous for designing and developing footwear, accessories and apparel. PUMA commits to serve its customers by supporting creativity, sustainability and peace. It promises to be fair, loyal, honest and creative in its decisions and actions. The unique feature of PUMA is that it manufactures sports stuff keeping in mind the fashion and style (Parasuraman, Grewal and Krishnan , 2007). It has collaborations with famous designers like Alexandra McQueen and Mihara Yasuhiro. PUMA group that was founded in 1948 has now three brands; PUMA, Tretorn and Cobra Golf. It distributes its products to more than 120 different countries across the globe and has a network of around 11000 employees.
“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.