Mba 570

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MBA Program Essay 18 August 2014 Nowadays organizations faces a number of challenges, technological advancements, globalization, supply chain requirements, new legislations, environmental regulations, customers’ expectations and competition, just to name a few. One problem of vital importance for an organization is maximization of profit; after all, businesses are there to make money for the stockholders and shareholders. In order to remain sustainable and viable an organization must consider all the other issues aforementioned, remain in compliance while continue being ethical, transparent and responsible for not only for the organization and its investors but, for society as well. The best way for an organization to achieve…show more content…
Customers have become savvier and will spend their money from businesses with a track record of integrity and transparency. They will sponsor the businesses they feel they will get what they need without fear of being taken for what they are worth or compromising their private information when swiping their bank cards to pay for the goods. Organizations can only build trust through open and honest communication. Taking the ethical stand can be risky. There is no guarantee that being ethical can increase profits. Nonprofit organizations for example operate in good faith, and not necessarily out there to make a profit. The ability of an organization to remain transparent is a must do if they are to remain in business. When organizations are not transparent, they could be under a cloud of suspicion and at risk, affecting their profit and damaging their good name. The whole world and non-governmental organizations will be looking for that transparency. Technology has become so widely available that positive or negative information will be known, almost immediately around the world. Ethical organizations experience the same fluctuations in business profit as any other organization due to economic downturns. Nevertheless, the smooth operation of an organization, its viability and the
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