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Strong Business Ethics

Business Ethics
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  Strong business ethics, which include honesty, integrity, and fairnessto all, play a critical role in running a successful organization as thisfunction of a business operation allows today’s businesses tocharacterize the differences between correct and incorrect ethicalbehavior. Additionally, strong ethical values also help businesses gaina competitive advantage (Johnson, 2! , and it allows them toensure that every employee is following the ethical standards thathave been established by the leaders of his or her organization.#o gain a better understanding of the importance of strong ethicalvalue, this paper will a e$plain the role of ethics, social responsibility,and sustainability in relation to organizational strategy. % &$aminethe various types of shareholders that influence’s a companystrategy. ' dentify at least one (or more e$amples of a companythat e$emplifies sustainability and social responsibility in their operation.)ole of &thics, Social )esponsibility, and Sustainability on Strategy&thics, social responsibility, and sustainability are one of severalfactors that historically have an effect (either positive or negative onan organization’s strategy. *or e$ample, a company ethical value canhave a far+reaching affect on the following areas of an organization- ublic mage (or credibility level  ublic image is how a company isviewed by the people or entities in their mar/et environment. A lac/ of trust and credibility can place doubt in the minds and hearts of consumers, distributors, and suppliers causing a business to losepotential profits, resources, and partnerships.- %usiness olicies (or code of ethics  #his aspect of a companyimplements policies or procedures regarding things, such as thepromotion of diversity and the prevention of discrimination among theconsumers and employees of their organization. &nsuring a diverseand unbiased organization will allow businesses to increase the oddsof attracting a wider variety of future consumers, investors, andemployees to their organization, regardless of his or her race, gender,or religion preference. Additionally, maintain a diverse wor/place canalso have a positive effect on a company’s credibility and ability to  become more creative and innovative with their ideas as they willhave a larger foundation of people to pic/+and+choose from.- Short+term and 0ong+term Strategy 1easurements #oday’sbusinesses use measuring tools, such as metrics to evaluate if theyare achieving ethical standards, and other business goals or obectives.&ffects of Social )esponsibility on Strategy'orporate social responsibility is a very important to an organization’seconomic and social strategy as this aspect of business 3isconcerned with treating the sta/eholders of a company or institutionethically or in a responsible manner4 (5op/ins, 266, para 2 . Additionally, social responsibility is also is also important to acompany’s success as it helps businesses develop different ideasand policies that will improve the 7uality of life and service to anorganization’s wor/force (and their families and the community ingeneral. #o maintain high levels of social responsibility, businessmanagers must continue to ta/e their employees, shareholders,consumers, and business community voice and opinion intoconsideration when developing and implementing their businessstrategy.&ffects of Sustainability on StrategySustainability is a concept that consists of both social and economiccomponents and those social and economic components of thisconcept can have an influence on the value of organization’sproducts and services to their consumers. Additionally, the concept of sustainability can also have effect an organization’s strategy byinfluencing things, such as a the way a company identify their internal issues. % #he way a company gathers their research andclassifies them into individual categories. ' #he way an organizationran/s and implements its priorities and policies into their businessstrategy (%ansal, 8 0aughland, 266 .Some of the main obstacles that businesses must overcome whenconsidering the effects of sustainability on their business strategy  include obstacles, such as 6 far too many sustainability metrics thatmeasure (some effective, some ineffective sustainability and itseffect on strategy. 2 9overnment policies and its effect on short+termand long+term sustainability efforts. : 'ategorizing and prioritizingthe more immediate short+term and long+term threats or opportunitiesthat could have the most affect (positive or negative on theorganization.#ypes of Shareholders and their nfluence As today’s corporations continue to e$pand and globalize their business operations into overseas mar/ets, the more influence thatshareholders have in the daily business decisions (customer service,types of product and logistics, prices, ethical values, policies, etc. and activities of an organization. &mployees, customers, investors,communities, and business partners represent several types of shareholders that carry maor weight in a company businessdecisions and activities.'orporation that &$emplifies Sustainability and Social )esponsibility;ith growing public awareness and consumer demand for acting in afiscally and socially responsible manner has become very importantfor today’s businesses (small and large to e$emplify high levels of sustainability and social responsibility in their present and futurebusiness operations. Starbuc/s 'offee is a prime e$ample of anorganization that e$emplifies high levels of sustainability and socialresponsibility.<ne of the main sustainability efforts that Starbuc/s haveimplemented is their organization’s emphasis on introducing moregreen coffee items on their Starbuc/s menus around the world. #osupport this move into the 26st 'entury, the leaders of Starbuc/screated a guideline called '.A.*.&. ractices, which helps Starbuc/scompanies around the world, achieve benchmar/s, such as socialresponsibility, product 7uality, economic accountability, andenvironmental leadership (0oidice, 26 . n addition to their greencoffee movement, Starbuc/s leaders also decided to support aproduct called &thos ;ater. &thos ;ater is a clean water product that  helps more than one billion people around the world gain access toclean, and safe drin/ing water (0oidice, 26 .'onclusion1any businesses have continued to research and implement differentethical strategies into his or her organization so that he or she canidentify the most effective evaluation methods to gauge theimportance of implementing and sustaining a strong ethicalorganization. ;hat this paper has discovered is that strong ethicalvalues have been and will continue to play a critical role in the short+term and long+term success of an organization.)eferences%ansal, #., 8 0aughland, . (266 . #he top ten reasons businessesaren’t more sustainable. )etrieved <ctober 2!, 262 from,http==www.iveybusiness>&2>!>??t+more+sustainable@.2#!;cBu2C5op/ins, 1. (266 . Definition of corporate responsibility. )etrieved<ctober 2!, 262 from, http Johnson, A. (2!, 1arch, 2 . racticing good ethics givescompetitive advantage. )etrieved <ctober 2!, 262 from,http!=:=:=smallbE.htmlFpageGall0oidice, %. (26 . 6 companies with social responsibility at the core.)etrieved <ctober 2!, 262 from, http+companies+social+responsibility+core=6H::2:=;heelen, #. 0., 8 5unger, J. D. (26 . 'oncepts in strategicmanagement and business policy Achieving sustainability (62th ed. .pper Saddle )iver, IJ earson=rentice 5all.
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