Manfold Toy Essay
Outline
a. Introductory paragraph (Weight: 10%): almost half page;
The debate regarding the role of business in society has persisted over decades. Given the increase in corporate scandals and anti-globalization movements, business corporations are being increasingly pressured to engage in activities or conditions that relate to the company’s core operations. The Increasing institutional pressures to behave as good citizens coupled with the relentless pressure from financial markets to perform, poses a challenge for managerial decision making.
In this essay, I will provide my definition of good business ethics, describe the specific challenges that management faces when engaging in international business, express how Manfold Toy’s corporate governance failed to take part in ethical business behavior and provide recommendations to strengthen these governance features to ensure future ethical business practices.
b. Discussion of your main ideas (Weight: 40%): about 1.5 page
Definition of good business ethics
Good business ethics are the application of a moral code of conduct that guide the way a business behaves. Ethical business practices include assuring that the highest legal and moral standards are applied and observed through actions, decisions and relationships within the business community. This definition runs hand-in-hand with socially accepted ethical principles; business actions must be judged in the context of society’s standards of what is ethically right and wrong. Businesses have a social responsibility to use this ethical behavior while making decisions and taking actions in order to enhance societal well-being.
Management accountability to stakeholders for profit making
A stakeholder is an individual who has interest in company performance, hence is an employee of that company. They also have legal decision-making rights and may control project scheduling and budgetary issues. Given the responsibilities of stakeholders,
a. Introductory paragraph (Weight: 10%): almost half page;
The debate regarding the role of business in society has persisted over decades. Given the increase in corporate scandals and anti-globalization movements, business corporations are being increasingly pressured to engage in activities or conditions that relate to the company’s core operations. The Increasing institutional pressures to behave as good citizens coupled with the relentless pressure from financial markets to perform, poses a challenge for managerial decision making.
In this essay, I will provide my definition of good business ethics, describe the specific challenges that management faces when engaging in international business, express how Manfold Toy’s corporate governance failed to take part in ethical business behavior and provide recommendations to strengthen these governance features to ensure future ethical business practices.
b. Discussion of your main ideas (Weight: 40%): about 1.5 page
Definition of good business ethics
Good business ethics are the application of a moral code of conduct that guide the way a business behaves. Ethical business practices include assuring that the highest legal and moral standards are applied and observed through actions, decisions and relationships within the business community. This definition runs hand-in-hand with socially accepted ethical principles; business actions must be judged in the context of society’s standards of what is ethically right and wrong. Businesses have a social responsibility to use this ethical behavior while making decisions and taking actions in order to enhance societal well-being.
Management accountability to stakeholders for profit making
A stakeholder is an individual who has interest in company performance, hence is an employee of that company. They also have legal decision-making rights and may control project scheduling and budgetary issues. Given the responsibilities of stakeholders,