Business ethics can be defined as “written and unwritten codes of principles and values that govern decisions and actions within a company.” (Love to Know, n.d.) Behaving ethically is extremely important for businesses in order to cultivate an image of responsibility and grow a loyal customer base. Companies have a moral obligation to help the communities from which they profit to grow and prosper.…
Lululemon athletica is a Canadian athletic apparel retailer, Inspired at designing athletic wear for both men and women who participate in a variety of sport such as yoga, running, mountain climbing and cycling. Like all organizations leadership beliefs contributed to the behavior and attitudes for their performance and success in the long run. LUlulemon has succeeded in developing both a brand and a culture of customers with a believe that wearing the product helps them to achieve their athletic goals, leading to more balanced and positive lives. Leadership beliefs that guide the socially responsible practices at Lululemon athletica are people, the community, their…
It’s clear that Lululemon is reliant on third-parties for the supply and the manufacturing requirements of its athletic apparel. By association, should these companies engage in unethical business practices or skimp on quality guidelines, these acts will reflect poorly on the Lululemon brand (Vallester, Lindgreen, & Maon, 2012). The use of foreign labour and manufacturing resources among multinational enterprises can become complicated, where firms that violate principles of corporate social responsibility experience backlash from consumers often (Nam et al., 2017). These issues are manageable for numerous multinational establishments; however, this is not the circumstance for Lululemon as it has few supplier replacements…
The role of ethics and social responsibility aids organizations in developing a strong strategic plan, while addressing the needs of stakeholders. Ethics and social responsibility require social awareness to address the needs of the environment and to increase the knowledge of employees, which will lead to a corporation focused on supplying the customer with what is needed, managers equipped with solid decision-making abilities, and employees who believe that he or she are an asset to the business. It is the executive manager’s responsibility to establish a clear vision for the corporation and place a specific focus on understanding stakeholder’s needs. In an effort to support these requirements agendas and regulations will be developed to maintain and enforce business ethics within the organization. It is vital for an organization to establish a firm code of ethics for employees and managers to agree and adhere to equality within the organization.…
The primary purpose of ethics and social responsibility is imperative to the way we do business and live amongst society. Ethics most commonly know as the rights and wrongs are principles and standards that establish what is know as acceptable conduct within an organization. Organizations have moral and legal duties to implement ethics when developing a strategic plan while considering stakeholders and consumers, they do not want to be lied to or cheated into buying a false product. Unethical companies will use aggressive sales tactics and mischievous ways, of doing business to sell, promote and profit from vulnerable consumers. Unethical organizations believe in these tactics not realizing that ethical and honest companies tend to be more profitable, reputable and operate amongst less stress from employees to managerial position. Social responsibilities are just as important as ethics but pertain to a greater scale; it’s an organizations obligation to make a positive impact rather than a negative one on society and the environment.…
In the article, Dalla Costa outlines the process for incorporating ethical principles to the direct benefit of customers, shareholders, employees and profits. The author makes clear why corporate ethics must be a fundamental component of any firm. As managers and consumers, many people are concerned about issues like discrimination in the workplace, and are struggling to integrate their beliefs into their jobs. The Ethical Imperative links these personal values to business…
Elements of ethics and social responsibilities while deciding on the strategic planning. “They are supposed to respect the environment, pursue fairness in dealing with internal and external customers, and strive to improve their communities” (Romani, 1998). Many businesses operate unethically, but it has adverse effect on the customers. So companies must recognize the value of ethics and social responsibility and enforce the standards…
Ethics is defined as “the moral principles that reflect society’s beliefs about the actions of an individual or a group that are right or wrong.” (Pierce & Robinson, 2011 p. 74) Just as in one’s personal life, ethics plays a large role in the corporate world as well. Ethical considerations for a company’s stakeholders must be accounted for when creating a strategic plan. The following paragraphs will focus on the role ethics plays in creating a strategic plan and how those ethical considerations affect the company’s stakeholders. In addition, an analysis of how my own ethical considerations have changed in the course of taking the MBA program will also be discussed.…
A code of ethics set out a broad-spectrum of principles regarding an organization's beliefs on matters such as operation, value, confidentiality or the environment. Codes of ethics are common channels to decisions concerning the actions of employees in an association. In our organization there exists a formal code of ethics. Our code of ethics consist of standards like conflict of interest where we state that we must stay away from circumstances where individual interests could conflict, or become visible to a conflict, with the interests of the corporation. Our character depends not simply on our high quality services and products but moreover on the manner in which we carry out our relationship with suppliers, government officials, businesses and others outside this company. Our code of ethics also includes conformity with laws, rules and regulations where our company and our employees are required to observe the laws, rules and regulations of each country in which we operate. Another thing is security of confidential information which declared that no employee shall without proper authority access, modify, divulge or make use of any trade secrets, confidential commercial Group or private information for any purpose other than legitimately carrying out his or her responsibilities. Next is the safeguarding and proper use of company assets this includes being accountable for the establishment of, and adherence to, procedures that guarantee our assets are not put in a risk or used wastefully. Another thing which is stated in our code of ethics is the relationships among customers and suppliers where every one of our employees has the responsibility to make certain there are no compromises in delivering the highest standard of services and products and that each aspect of our operations which impacts upon quality promotes and reflects these standards. Nobody should receive unfair advantages of anyone in the course of…
Another important part to lululemons CSR is their work place code of conduct. This states: As lululemon grows throughout the globe, we strive to maintain our personal and professional focus on living healthy, balanced lifestyles. Lulu has what they call “non negotiables” : no child labor, no forced labor, no discrimination, no harassment or abuse, freedom of association, voluntary hours of work, work place health and safety wage and benefit minimums and environmental responsibility.…
The act of conducting oneself in an ethical manner comes down to knowing the difference between what is right and what is wrong, and working to do the right thing. According to Mintzberg, Ghoshal, Lampel, & Quinn, 2003, ethics is a question of values and goals, not of methods. Making ethical decisions and working to be socially responsible for a company should be one and the same when conducting business. During the development of a strategic plan ethics and social responsibility should be a priority from the shareholders to the entry-level hourly employee. This paper will highlight ethics and social responsibility during the development of a strategic plan. The paper will also examine how my ethical perspective throughout the MBA program.…
The code of ethics is adopted by organizations to assist members in understanding the difference between 'right' and 'wrong' and in applying that understanding to their decisions. An effective code of ethics should also help to delineate the proper procedures to determine whether a violation of the code of ethics has occurred and, if so, what remedies should be imposed. After reviewing the company’s code of ethics, we found that it has well established the concept of business ethics and the company’s objective, and also several kinds of encouragement to promote the ethical business behavior effectively. The company’s code of ethics, however, is not practical enough for implementation as the content is too general and vague, and there are not enough guidelines and regulations to help the staff to detect or solve the ethical issues.…
Business ethics are becomingly more effective in the modern world of business, yet ethics and social responsibility are concerns misunderstood today. Organization's when confronted with issues that become more significant as the organization grows have more of an impact on the lives of other people in ways management can only imagine. Ethics can be a personal topic, containing an important role in the success of the business and the social responsibility will surely maintain integrity and honesty for the organizations future. In regard to the role of ethics a social responsibility in developing a strategic plan, there will be discussion and consideration with the part of stakeholder's needs and agendas.…
ABSTRACT Firms assume ethical business practices only add costs to the firm. However, business ethics actually add value for customers and result in increased profitability and performance for the firm.…
Knowing that ethics is a major fundamental principle in people or groups of people, such as businesses, importance of this awareness these groups have to achieve working knowledge of ethics so that they do not upset others around them. Socially businesses have to also take in their responsibility in the stategic planning because businesses have a responsibility to do their activities to meet bigger commitments towards the society and the environment (Abdullah, 2013). Strategic planning is very important and is a primary action in the corporate world which the company uses their upper level management to articulate the organization’s strategy, direction, and in deciding important elements for the organization (Abdullah, 2013).…