Please Plagirism is Prohibited You are keen to discuss with your colleagues the
ID: 395821 • Letter: P
Question
Please Plagirism is Prohibited
You are keen to discuss with your colleagues the advantages and disadvantages of implementing a more ethical approach to running Cocoa Products Ltd. You decide to prepare a report about the issues and to discuss the pros and cons in an online forum. You may choose to argue for the company to take a more ethical approach or to argue against it.
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You need to report on the following points (i, ii and iii) with respect to each of the three areas of concern (1, 2 and 3) where ethics can have a significant impact on business decisions:
(i) the ethical objectives of the company and how they affect other business objectives, AND
(ii) the options and mechanisms for taking a more ethical course of action, AND
(iii)the impact on the stakeholders and the business from taking that course of action;
as applied to:
1. The environment
2/ Trading fairly
3. Workplace relationships – include an assessment of the contractual and moral obligations owed by the employer to an employee and analyse how mechanisms can be developed to increase employee participation in decision making
Explanation / Answer
Ethical approach to run business :
Ethical behaviour is often overlooked as the chaos of everybody busines obscures the philosophical side of the company. But it is far easier to reconnect to a sloid ethical footing than it is to attempt an ethics transplant. Many business treat ethics like a sermon on the mount . Although its hard not to preach a bit when it come to ethics and morals . Its interesting to consider how good ethical behaviour reflects smart business practices , but may be that's exactly why the great companies are just that .
1) Ethical objective of the company and how it affect the environment - Today its very important to always do take one or more steps towards greenery and for healthy environment as every company tries to do someting for society and in return company should do something for the environment may be by only starting a campaign for growing and planting more trees.
--> Trading fairly- Doing business ethically and fairly is very imprtant so we should try to be ethical and fair with everybody whososver is dealing with us in our business It can be all employees - should be paid fairly for salary , it can be all vendors- dealing in correct and legal way and doing all payments on time , It can be all stakeholders - company is liable to them and they should get all clear reports.
--> Workplace relationship - As mentioned earlier employee should get fair pay and should be trated equally as that is the basic ethics of a company to pay fairly and all should be treated equally and should get fair chance of growth.
2)Environment - options to take more ethical course of action - for environment company and use paper packaging or paper box packaging instead of plastic as by doing that we can do our bit for the environment .Can start more eco friendly projects where can do something for environment. Planting more and more tress in our sorrounding in the factory area so that pollution impact can be decreased.
--> Trading fairly- We should have fixed terms and conditions for all the vendors so that there will not be any issue while dealing in business. All transactions shall be fairly recorded and data should be maintaines so that whenever required it can be presented to government or any other leal department or company whenever required.
--> Workplace relationship - More and more opportunities should be given to employees for their personal growth and professional growth .Fun activities should be conducted for all employees so that their mind can also get change. and they will feel refresh and more motivated . Employee who performs good should be recognised and rewarded .so that they fell more more motivated .
3) Impact on stakeholders -Timely report should be published and printed for all stakeholders so that they get all the profit and loss details of the company . Proper reports should be provided to all the employees and stakeholders so that they can get all the details of the company. As they are investing in the company they should get all fair reports.
I have tried to mention all details, Thanks