The Business Ethics of TechFite - Free Essay Example

Sample details Pages: 4 Words: 1141 Downloads: 9 Date added: 2019/08/12 Category Business Essay Level High school Tags: Business Ethics Essay Did you like this example? Ethics The three corporate policies are; tuition coverage, have a mentor, be a mentor and community investment initiative. The tuition coverage policy relates to the organizations culture by focusing on employee empowerment and leadership development. This policy incentivizes employees to maximize their technical skills while they attract motivated talents who see tuition coverage to be a major component in making employment decisions. The second policy which is have a mentor, be a mentor relates to the organizations culture by committing to workplace collaboration, leadership development as well as employee empowerment. This policy creates an organization trickle down of experience and knowledge from the senior levels to the companys junior levels because it enables mentorship to move from senior management down to the junior employees. This policy will ensure that the company has ready talents which can assist it to advance its operations. The third policy is community investment initiati ve which will incentivize the company employees to be active when it comes to the matters of the community by acting as the companys ambassadors. The employees bear no negative effect in terms of finances as the company caters for all the expenses needed. This policy relates to the companys culture by committing to community and leadership development, collaboration and empowerment of the employees in making decisions. For many business people, ethics is identified with the law. Business behaves ethically when it obeys the law (DesJardins, 2018). Don’t waste time! Our writers will create an original "The Business Ethics of TechFite" essay for you Create order The difference between legal and ethical issues is that ethical issues are often based on individual understanding on the right and wrong perspectives whereas legal issues are based upon the law and are enforceable if not adhered to (Ferrell Fraedrich, 2015). For TechFite, it is legal to pay its senior executives huge bonuses, but it is not ethical to do so while the business and its employees suffer because of inadequate finances. Also, while it is legally correct for this company to reduce full-time jobs in favor of part-time jobs attempting to avoid paying benefits the action can be termed as ethically wrong. The actions being taken by this company are likely to bring various issues such as conflict of interest, whistleblowing, among others. For example, based on the scenario, the senior company employees receive large bonuses whereas the junior staff members suffer from poor funding while at the same time suppressing the general morals of the business and this is likely to influ ence employees to engage in whistleblowing. Additionally, the company does not pay the employees their benefits and has also reduced their working hours, a factor which has caused them to receive poor salaries. Another ethical issue that came out in our scenario is that the management does not meet the business morals because it does not consider giving back to the communities in which they have a presence. This is likely to make the society to develop a negative perception towards the company because people expect ethical businesses to participate in activities which enhance the wellbeing of the society (Shaw Barry, 2015). There are high chances that the conflict of interest may arise in this company because most of the resources are being used to benefit the senior managers while the junior employees realize challenges because of receiving low salaries. The main purpose of the ethical officer is to ensure that an organization complies with all legal and professional standards of conduct (DesJardins, 2018). They also provide a safe way for the employees to report or seek guidance in regards to ethical violations. They respond to these cases by taking certain disciplinary measures which ensure compliance with the regulations and guidelines which a company has established. If TechFite had hired an ethics officer, in this case, he/she would have helped it to avoid engaging in unethical behaviors by ensuring the management complies with the ethical guidelines. He/she would also play a crucial role in evaluating the policies which the company had put in place to ensure they lead it in the right direction in regards to its vision. Corporate social responsibility (CSR) ensures that the companys behavior reflects the behavior of an ethical background through taking into account the companys ecological and financial impact as well as its attention to the rights of its employees (Rupp Wright, 2015). If TechFite applies CSR, it will increase and guard the consciousness of its brand, upsurge its c ompetitive power and also develop its positive public perception. The companys reputation is critical to its endurance as most of the customers confidence can have a deep and straight outcome on its standing in the industry. If the companys reputation in the public eye is desirable, customer loyalty can still remain even if other businesses which compete with this company competitors offer the same products for charged values. The manner in which the company relates with the customers can assist it to differentiate itself in extreme competition so that it can be able to influence customers to choose its products over any alternatives that may be available in the market. Therefore, Techfite needs to address various issues such as failed community promises, unfair distribution of hours and its community engagement measurement. For Techfite to address the issues which prevent it from attaining its goals, it needs to take a course of action that is ethical, and also socially and environmentally acceptable. These actions may include paying the benefits according to the hours an employee has worked. The second action is to implement a placement program for the company to engage in community development with the aim of improving the societys quality of life (Epstein, 2018). The third action is to address the wages and hours which may free up some resources that may be used in developing the company in Dellberg city by focusing on delivering its failed promises. By using the strategies it will be possible to save the companys reputation by making the public to view it as ethical. These courses of action are ethically responsible as implementing placement pr ograms for community improvement, addressing the unfair pay, and investing resources in rebuilding Dellberg city is the best move because they will enable the company to be correct in its conduct, as they can enable it to avoid the exterior of unprincipled behavior. Secondly, these actions are socially responsible because they make the company to be socially accountable. They can also assist will enable TechFites management to enhance the companys growth, culture, and its commercial status, with progressive inputs directed at the bottom-line results for the company and the community as a whole. Lastly, the actions are environmentally responsible because they can make the company to protect the environment by engaging in corporate social responsibility. Additionally, they can also help the company to avoid using materials which have a negative impact to the environment. This may include proper disposal of waste and also producing products which are environmentally friendly.