Business Ethics Examination Case Essay Sample
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Business Ethics Examination Case Essay Sample
- How does the society benefit from an economy built on free trade where both the labor and the buyer only seek personal gain?
Free trade system is primarily described as the process by which a nation [whether it is the buyer or the labor source of a certain trade] is able to get the best benefits it could acquire through ensuring that its values of finance or personal good is being catered to by the existing trade. Philosophically, this idea is the theory of economics that the present trade agreements support today.
As noted, free trade is the status of trading that ensures that each nation will ultimately benefit from it by freely being able to exchange their goods and services between each party while accordingly following the rules implied within the system. This would then help in the nations’ highlighting of their most produced products and services in exchange of those that are less giving attention to by the countries involved in the said system of trade. At a glance, these implications of free trade could be scrutinized through examining the pros and cons of the system as presented herein:
|Protectionism boosts domestic economies by restricting foreign competition.||Protectionism in the process of free trade between the buyers and the labor raises the price of both foreign and domestic goods. This has a negative impact on the economic growth of a country in the long run.|
|Local jobs are saved because demand for domestically produced goods remains strong.||The cost of saving jobs in a specific industry may cost over $800,000 annually. Moreover, companies that depend on important raw materials or other sources may have to cut back on production and distribution operations in the market.|
|Protectionism helps weak domestic industries stay afloat||Protectionism in the free trade discourages innovation. The isolated areas of trade are less able to penetrate the existing market because of the existence of the great economic groups that are already evolving in the system.|
|Nations must sometimes retaliate against foreign trade restrictions||The loophole exists when one retracts to exchange goods or services to others involved in the trading system.|
- Why is considering the law not enough for managers to make a decision? What are the other elements needed to be considered? Give an example of a decision that would incorporate all the necessary elements.
There are other elemental factors that actually exists for the betterment of the system of management that managers are making use of in making decisions. Aside from the defining law themselves, the factors also include the human factor, the environmental factor and the social factors. These factors are considered the main stakeholders of the process whereas their values are in need of being considered for the planned decisions’ applications success in the actual situation of which the organization is involved with.
In the aspect of business management, there are several elements and characteristics that organizational leader take into consideration when analyzing the condition of the economy of a certain society or nation. These elements are mainly the certain advantages and disadvantages of each society compare to others in terms of production, resource consumption, and economic benefit. Ideally, business leaders analyze each society based on the economic advantage they posses thus, establishing its fundamental business characteristic for market selection. In the application of this concept, consider the following scenario and the characteristic of the economic advantage each respective has for market analysis and selection.
- A nation has companies with the capacity to make stereo equipment at a much lower price than other national producers because of lower cost labor. The stereo equipment is of the same quality as other international producers.
The characteristic of this society is mainly absolute advantage as their production nature possesses more benefits than the other in terms of resource consumption. Ideally, each business leaders desire to have better and effective production with lesser expenses to gain greater profit. Because this society can produce the same quality standard for their product similar to others while having cheaper production cost, their have absolute advantage than the others in terms of production and market selection. Indeed, business organization will desire to utilize the absolute advantage that this nation has for greater profit.
- A country mines for a high-demand precious gem only found within that country’s borders and distributes the gems to jewelry dealers all over the world.
The principle for the economic characteristic in this scenario can be considered as absolute advantage mainly because the highly demanded resources can also be produced by their society making it their concrete advantage over the others. Likewise, this characteristic can also be considered as a comparative advantage scenario as the society can also be viewed as not the most efficient producer only that they are the only possible producers. Considering their condition, they might not be the most efficient producers for other products however, they can find certain advantage through specializing and focusing on the highly demanded product, which can only be found in their resource area.
- An overseas country passes laws to protect certain business practices that other countries may find unsuitable and perhaps unethical. The protection of these business practices are not seen as abusive or exploitive within the overseas country and are also consistent with national social standards.
The business principle applied in this scenario can be considered as national competitive advantage as the law passed by this nation becomes their significant advantage over the others namely their concern for protecting certain business practices. Other societies might consider this protection perhaps unethical yet this specific nation implemented them while maintaining their adherence to the national standard. As such, business organizations who see much benefit from this protection will take consider applying their production operation in this nation. Thus, the law they passed protection business operation will become their significant advantage though not absolute above others.
- Utilitarian morality places no value on observing rules. What does this mean? Give an example on how utilitarian morality may be used in the business world today?
According to the idea of utilitarianism, the right decision is the one that produces the greatest goods for the greatest number of people. Using this approach, you would try to figure out how each action affects everyone concerned, and then you would choose the action that creates most good for most people. You would reject alternatives that cater to narrow interests or that fail or satisfy the needs of the majority.
For example, a company facing hard times might decide to close a plant in one city in order to keep production operations strong at its remaining plant. Although workers at the closed plant would suffer, the company would be able to continue operating and perhaps reorganize for future success, thus serving the greater good of the corporation and the communities it is a part of. The value of the utilitarian approach depends on the skill of the managers and the administration of an organization to imply the laws through estimating the effects of the decisions that they have made.
Through this idealism applied in business, it could be noted that business organizations are indeed intended to exist for a certain reason depending on its own field of industry. Likely, the matter could be understood through estimating the pros and cons of each decision made for implementation within the operations of a business.
- Interpret the implications of universalizability for moral reasoning. Give an example of universalizability in an occupation that you have worked.
Universalizability is a theory that describes the ways by which people are given the idea of which things are rightfully lawful and which are not. This philosophy of reasoning actually outlines the possibilities by which humans decide on things that are right and wrong. This reasoning however depends on what the society decides upon to be right or wrong collectively. In terms of business systems, this idea is actually used to outline the basic laws that business operations are supposed to be enticed with as they operate in the international market.
In terms of being a human resource manager assistant, a situation in the workplace of the author of the paper actually shows that universal theories of business operations directly affect the system approach of local businesses worldwide. This is especially true in terms of fixing employee relations issues.
However, the concept of individual right is often in contrast with the society’s pursuit for organized system within its structure. People desire to have a certain degree of control and power over its organization for the purpose of management for the attainment of their desired accomplishment and success. For the attainment of social discipline in the social organization, certain individual rights need to be limited for the purpose of management and control for the effective and efficient process of each social institution. For example, in the working environment, personal right for speech and opinion must be limited and restricted for the purpose of management of the said organization. This concept is indeed logical and permissible on this view however, the practice and application of the argument can likely cause critical and complicated questions.
The troubling concern in this argument is the use of the power of restricting the right for free speech in the work environment. If implemented for the ideal reasoning and pursuit of social organization and discipline, limited the free speech is indeed permissible however, abusing this power through utilizing it as a mean of suppressing individual rights for personal benefit is already negative and detrimental. In addition, in the said scenario, limiting the free speech is permissible on some grounds however, there is still the need to develop a system where employees can still express their opinion, complain, and suggestion to the management on a way that will not negate or contradict their social discipline. The restriction on the individual right is only needed to achieve the ideal obedience and discipline in the work organization and environment necessary for the effective accomplishment of their tasks and processes for their success.
- CASE ON WHISTLE-BLOWING
Whistle blowing is particularly noted as a particular selfless act of making the truth made known to those who are in need of receiving the said confessions. Usually, whistle blowing involves making known of a particular act that is committed by someone who is in an administrative or authoritarian position. Usually, these cases involve more than just the organization joined by the said individual. Likely, the situation affects more around the society making it much serious and implicative in the current systems of relationship in the society at present.
In this regard, a person taking all the risks for the sake of the greater many is realized as something that is much selfless and rather important for the larger number of population in the society. However, although whistle blowing may be quite a fine work that is worth some praises from the society, it is also considered as something that is risky and rather in need of support as well as investigation from the possible truth that the whistle blower suggests.
- What are the components of a whistle-blowing policy? What are the benefits and dangers of such a policy?
As noted earlier, the process of whistle-blowing does involve a serious and a situation that is worthy of protection from the authorities of the department involved in the issue. Having these particular measures of safety for the whistle blower, it is certain that there exist some certain rules of focus before any whistle blower could be able to announce what he knows in a much more larger scope of population.
As for the components of the whistle-blowing policies, it is certain that the areas of concern actually involve the people within the case and the stakeholders of the situation which may include various groups of people in the society who are to be affected by anything that has actually been confessed by the whistle blower.
There had been developed policies that actually enhances the process by which the whistle blown issues could be kept in a more serious and confident manner as long as the investigations are being progressed further for the truthful release of the issue or the benefit of the stakeholders involved in the situation. These rules aim to make the process of supposed “confession” a more effective manner of releasing the truth for the good of many.
However, as it could be noted, there are some things kept secret because of some valuable reasons on the part of the ones keeping the said issues to themselves or to a number of people who are involved within the said secrets. True, some decisions of blowing the whistle for such situations require one to have a relatively reasonable motive as to why he or she would like such issues to come out to the public.
- RULES OF TRADE SECRET
What actually are trade secrets pertaining to? These are actually some things or details that are considered private to the consumers such as tin numbers, bank account numbers and other things as such. Properties are also considered private positions of human individuals. However, because of trade, some of these private assets are set as measures of exchange for some goods. Stock holders as for example have to ensure the organizations that they join some access to their private properties so as to show their colleagues at work or within the organizations that they are joining that they are indeed serious and certain about joining the business.
In terms of modern technology business, trade secrets are indeed existent. Undeniably, such personal identity matters are also given out to the operators of several internet business operators so as one would be able to enjoy the different provisions of online business transactions.
- Concerning privacy in the internet, it is said that we five up a great deal of information in order to enjoy the benefits of internet commerce. List five types of information that we give up, in your point of view, how justified is this trade off?
- Bank Account Number
- Actual Home Addresses
- Tin or other card Numbers
- e-mail addresses
- Detailed information about one’s self
These informations are rather important to one particular individual. However, to be able to handle online transactions for ordering products or for online employment, these informations are given out. Although there are measures of privacy that several organizations look to for application, it could not be denied that giving private informations such as this would likely be a lot risky for one especially that the informations are to be sent online, where other people could also have an access to.
- Express the difference between the two versions of the principle of comparable worth in the language of rights? Give at least two examples of each.
The comparable worth of one’s work is actually referred to as the equal payment that one receives for the effort that he is supposed to give the organization he is working for. Understandably, it is the right of each employee to be handed with the right amount of salary that he deserves for the work that he has been giving his organization with. Likely, it is through this process that the employees are given the financial satisfaction that gives the the reason to do the job that they are tasked to do.
However, because of some ethical issues that the employers are involved with, some employees are not able to receive the right amount of payment that they deserve. Considering this fact, it is then certainly important that the rights of employees are given the rightful attention needed to make sure that the employees are given the right amount of payment and benefits that they deserve.
- INJUSTICE and DISCRIMINATION at WORK
Increasingly there is economic interdependency among nations. A global communications network, like a gigantic central nervous system, links every nation of the earth. As ideas, information, and technology are exchanged, cultures merge and adapt to one another. Throughout the world, people dress more alike than ever before. Cities of the world share much in common—police, luxury hotels, traffic, stores, banks, pollution. Thus, as the peoples of the world come together, we witness what some describe as an emerging world culture.
Nevertheless, while peoples and cultures intermingle, clearly not all see one another as brothers. “Everyone’s quick to blame the alien,” wrote a Greek playwright over 2,000 years ago. Sadly, the same is true today. The evidence is no farther away than newspaper reports of bigotry, hatred of foreigners, “ethnic cleansing,” racial strife, religious riots, massacre of civilians, killing fields, rape camps, torture, or genocide.
Of course, most of us can do little or nothing to change the course of ethnic conflicts. We may not even be directly affected by them. For many of us, however, problems come from a lack of communication with the foreigners with whom we come into contact—neighbors, workmates, or schoolmates.
Does it not seem odd that people of differing ethnic groups so often find it difficult to trust and appreciate one another? After all, ours is a planet of enormous diversity, endless variety. Most of us appreciate the rich variety of food, music, and color as well as the many kinds of plants, birds, and animals. Somehow, appreciation of variety does not always carry over to people who do not think and act in the same way that we do. Instead of looking at the positive aspects of diversity among peoples, many tend to focus on the differences and make them a point of contention. Certainly, this is when discrimination at work occurs.
How is the said situation supposed to be dealt with then? Diversity, when referred to in business terms may mean a lot of things. An organization’s workforce may be referred to as diverse for many reasons as well. Diversity may occur because of the differences of opinion because of the differences in personality, in age, in educational attainment, in status in life and even in culture. Mostly, as observed on different business companies, the main reason of such diversity is the existence of a much distinct group of races making up a single workforce for a company.
How could all these happen? As mentioned in the introduction, many people have already transferred from place to place and a lot of those people, the so-called immigrants, have already decided to stay and work on the foreign lands they have gone to. Hence, the main effect of this social move on achieving success on other places, the employment of the multicultural population has been the resort to supporting the lives of the said immigrants. Hence, the workforce of every company making up the business industries are at times having the same worries on how to face the challenge of dealing with and managing people who are widely different from each other.
Getting along with Discrimination and Diversity
As mentioned earlier, management of a diverse workforce has been one of the biggest problems that concern the human resources department of any type of company present in the business industries. Hence, it is just reasonable to say that at some points, some management teams may find it a difficult task as well. However, the author, John riddle says otherwise. According to him, “these are all factors of management that should be considered by good managers even before entering an organization” (113). Hence, this definitely means that avoiding diversity in the workforce may be impossible but giving a resolution to it is not that impossible. After all, there is still a common ground among the working force of each company no matter how diverse they may be it is that they are humans, which makes them capable of being dealt with and managed well.
In this regard, John Riddle has suggested several points of consideration when dealing with such business problems. In general terms, he summarized the ways by which a good manager could handle the difficulties of dealing with a diverse workforce.
The said suggestions are as follows:
- Concentrate on the strengths of the employees. When a manager discovers the tasks where the employees usually excel in, they should be assigned to them as they are expected to be more productive on those fields of the job.
- Understand the abilities and the potential of each employee present in the organization. These potential assets of the employees could as well be used by the company itself in aiming for the goals that it has set up for the future.
- Allow communication lines t be open at all times. It is very important for managers to be good listeners. The ability of hearing what the employees want form the company as well as to how they could be of bigger help to the organization could be used as a resource of ideas for the company as well.
- Make the employees feel that they too have a sense of authority in the company. However, this type of authority should not overstep that of the administration’s. It should be clear that this authority could only be exercised at specific times and places when it is permitted. This may often refer to an ‘open door’ policy that deals with an easier type of agreement between the employees, which could give them a chance to affect how the organization is being managed. They are then allowed to give suggestions; however, no suggestions are implemented unless approved by the administration.
- Make sure that all employees understand the business goals and objectives. It should always be remembered that a well-informed employee, whether young or old, is a productive employee.
- A manager should always remember that he is supervising people with feelings who are valuable members of the organization, hence, treating them with great respect at all times no matter what culture they come from is one of the most important virtue any manager could post as an example for his colleagues.
- Treating everyone fairly and sensitively is the key to creating a fine working environment. It should be remembered that because of the different clutters of the people, they all have different preferences; they have different personal obligations and other more. Considering the fact that dealing with multicultural workforce also involve dealing with their differences of belief, a manager could as well consider fairness at all times to be able to set a common ground for everyone else in the organization.
- Keep everyone else busy and going all the time. Feeling one’s worth is usually measured on the things they are able to do for the organization in a day. In this manner, it could be said that regardless of one’s difference from the others, being able to do something for the company and being of worth to the organization makes an employee feel that even though there are differences, he still belongs to the organization he is working for.
- Keep employees informed of the ins and outs of the organization. Keeping employees in the dark when some changes within the organization arise may give them the notion that they are not given importance by the administration of the company.
- Acknowledge the employees’ efforts, years of work, talent, creativity and good job attributes. Doing so would help everyone else strive for the best while they are working in the company.
It could be noticed that the suggestions listed in here are general. Putting these suggestions into good use have mostly caused several companies to achieve unity beyond diversity in their own much diverse workforces. Hence, as Jones commented in his book “Contemporary Management”, “diversity is a normal part of modern management. Being globally distinct, it could not be avoided that dealing with different people everyday is a challenge to the modern managers today” (180).
Riddle, John. (2001). Business Management. Adams Media Corporation. Avon, Massachusetts.
Adams, Bob. (2000). Managing people: Lead your staff to peak performance. Adams Media Corporation. Avon, Massachusetts.
Hiam, Alexander. (2001). Motivating and rewarding Employees: New and better ways to inspire your people. Adams Media Corporation. Avon, Massachusetts.
Martinez, Esdras. (1998). Buisness Managements theories and practice. Rex books Publishing. Manila, Philippines.
Jones, Gareth R. (2004). Contemporary Management. Irwin/McGraw-Hill; 4th edition.