Ethics Case Study

Having strong ethics in business, which comprise integrity honesty, and equality play a significant role in the administration of a flourishing business as this role of a business process allows for a characterization in the differences between incorrect and correct principled conduct. Furthermore, having strong ethical standards help an organization in gaining a competitive advantage (Johnson, 2008), and it ensures that the workforce is following the established rules and code of conduct by the leaders of her or his organization.

To increase the importance of strong ethical significance, this paper will clarify the principle character of ethics, sustainability, and social responsibility in relative to an organizations strategy. Furthermore, consideration will be given to the assortment of shareholders that control a business stratagem. Lastly, classification will be given to a company that practiced unethical behavior, social responsibility, and sustainability in their daily functions. Ethics, Social Responsibility, and Sustainability

Ethics, social responsibility, and sustainability are several factors that traditionally have an effect (either negative or positive) on the strategy of an organization’s. For example, a business’s ethical value can have an extensive influence on many levels an organization: Public Image and credibility: image is how a business is viewed by the entities or people within their environment. A lack of credibility and trust can place distrust in distributors, consumers, and suppliers causing a business to lose possible resources, and profit. Business Policies: This characteristic of a business implements procedures or policies concerning the endorsement of diversity and the deterrence of intolerance among the employees and consumers of a business. Ensuring an unbiased and diverse organization allows businesses to enhance attracting a wider selection of investors, consumers, and workforce to their organization, in spite of gender, race, or religious preference. Additionally, maintaining a diverse place of work can have a constructive effect on a company’s ability and credibility to becoming innovative with their ideas as they will gather a larger, more diverse workforce. Long and short-term Measurements: Today’s businesses use metrics in evaluating their achievements, goals, and objectives of ethical standards. Effects of Social Responsibility on Strategy

Social responsibility is imperative to an organization’s social and economic strategy as this facet of business “is concerned with treating the stakeholders of a company or institution ethically or in a responsible manner” (Hopkins, 2011, para 2). Additionally, social responsibility is fundamental to a business’s accomplishment as it helps in the organization and advancement of dissimilar ideas and policies that advance quality of service and life to an organization’s workforce and the surrounding community. To preserve high levels of accountability, company managers must continually take their consumers, employees, community, and shareholders, opinion and voice into concern when developing and implementing their organizational strategy. Effects of Sustainability on Strategy

Sustainability consists of both economic and social workings as well as economic and social components of an organizations strategy. These concepts can have an persuade the assessment of business services and products as related to their consumer base. Furthermore, sustainability can influence an organization’s strategy by the way a company categorizes their internal issues, gathers their research and implements services and priorities into their stratagem (Bansal, & Laughland, 2011). Some obstacles that organizations must surmount when taking into account the effects of sustainability on their strategy comprise obstacles, such as the relation of numerous sustainability metrics that determine sustainability and its result on policy, Government policies and its effect on long and short-term sustainability efforts. Another obstacle is found in prioritizing and categorizing instantaneous opportunities or threats having an adverse influence on the organization. Shareholders and their Influence

As corporations continue to globalize and expand their operations into diverse markets, the more influence that shareholders have in the daily business decisions (prices, customer service, policies, types of product and logistics, values, etc.) and behavior of a business. Investors, Employees, communities, customers, and business partners all correspond to the various types of shareholders that carry influence in a corporation’s business activities and decisions. Sustainability and Social Responsibility

Growing public consciousness and consumer demand for acting in a socially responsible and fiscal approach has become crucial for today’s businesses in exemplifying high levels of social responsibility and sustainability in present and future organizational operations. An agricultural company based in Missouri is at the top of the list for the world’s most unethical corporation. The business is the global leader for the manufacture of genetically altered foods. Monsanto remains notorious for unethically suing local growers who cultivate foods both organically and ethically. If the litigation is not administrated in favor of Monsanto’s, they still accomplish their anticipated outcomes as the modest farmsteads become insolvent owing to all the legal expenditures. The corporation is also the maker of an exceedingly lethal weed killer named Roundup. This weed killer is both damaging to humans ecology as well as to the ecology. A 2009 scientific study established that the deadly herbicide Roundup can contribute to the death of unborn children (“Monsanto – World’s Most Unethical And Harmful Investment”, 2014).

Conclusion

Numerous businesses have continued to explore and employ diverse ethical strategies into the varying levels of management so that she or he can recognize the most efficient assessment methods to determine the significance of sustaining and implementing a strong principled business. This paper has revealed that strong ethical principles have continued to play a decisive role in the long-term and short-term accomplishments and longevity of an organization.

References:

Bansal, T., & Laughland, P. (2011). The top ten reasons businesses aren’t more sustainable. Retrieved October 28, 2012 from, http://www.iveybusinessjournal.com/topics/social-responsibility/the-top-ten-reasons-why-businesses-aren%E2%80%99t-more-sustainable#.UI2T8WcXu2V Hopkins, M. (2011). Definition of corporate responsibility. Retrieved October 28, 2012 from, http://mhcinternational.com/articles/definition-of-csr Johnson, A. (2008, March, 2). Practicing good ethics gives competitive advantage. Retrieved October 28, 2012 from, http://www.bizjournals.com/denver/stories/2008/03/03/smallb6.html?page=all Loidice, B. (2010). 10 companies with social responsibility at the core. Retrieved October 28, 2012 from, http://adage.com/article/cmo-strategy/10-companies-social-responsibility-core/143323/ Monsanto – World’s Most Unethical and Harmful Investment. (2014). Retrieved from http://www.ethicalinvesting.com/monsanto/terminator.shtml Wheelen, T. L., & Hunger, J. D. (2010). Concepts in strategic management and business policy: Achieving sustainability (12th ed.). Upper Saddle River, NJ: Pearson/Prentice Hall.