Preview

Task 310.2.1-05

Good Essays
Open Document
Open Document
675 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Task 310.2.1-05
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.
Company Q, a small local grocery store chain, has recently closed two stores. These stores were located in a high-crime area and the company reported that they consistently lost money. The area’s food bank requested that Company Q donate day-old merchandise, which management denied. The decision was made to throw away the unused food and the reasoning was that revenue might be lost due to stealing or fraud. Customers of Company Q began requesting more health-conscious and organic products years ago. The company decided to offer a limited amount of these high-margin items.

Company Q is not acting in a socially responsible way by closing the stores in the high-crime areas. They had created a local brand and employed members of the community. By closing these two stores, Company Q would only be furthering the the decay of the community by creating more empty store fronts. Once the stores close, its employees would be without work. This will also contribute to the decline of the community. The loss of the local stores would be a hardship to residents, because they would have to spend more time and money to travel further to get the essential items they need. This added hardship would most likely have an effect on the community since there would be fewer resources available to help improve the community

Company Q could help contribute to the revitalization of the local areas by increasing their presence in the community and expanding programs designed to engage and include community members. One way to help the company deal with the loss of money from these stores



References: Love to Know Business (n.d) Retrieved from: http://business.lovetoknow.com/wiki/A_Definition_for_Business_Ethics, on December 8, 2011

You May Also Find These Documents Helpful

  • Powerful Essays

    efforts to give back to its community. How could it not? A local company staffed by…

    • 5034 Words
    • 21 Pages
    Powerful Essays
  • Better Essays

    Criss Cross Pizza Essay

    • 2229 Words
    • 9 Pages

    One of the largest events the company would donate food for was the local church: They would hold many events to feed the less fortunate. During these times, the company would also ask employees of the store if they would be willing to go to the church and donate some time to help serve food or help clean up after the event. With the company being so willing to give back to the community, the customers had more reason to continue giving their business to the store. Being well known for the charity and fundraising events was not the only thing that kept the business coming back, but the way in which the customer was treated as if they were the only customer that mattered, also had much to do with customers returning. The owners would stress the relationship with the customer first and foremost. Each month the company held a meeting at the store to talk about ways to make things better for the customer. I was honored to work for a company that gave so much back to the…

    • 2229 Words
    • 9 Pages
    Better Essays
  • Good Essays

    Business Ethics

    • 937 Words
    • 4 Pages

    Business ethics defines how a company integrates core values - such as honesty, trust, respect, and fairness - into its policies, practices, and decision-making. Business ethics also involves a company's compliance with legal standards and observance to internal rules and regulations. Business ethics is, in part, the attempt to think clearly and deeply about ethical issues in business and to arrive at conclusions that are supported by strongest possible arguments.…

    • 937 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Business ethics represent all the principles and standards that guide behavior in the world of business. Therefore, all this set of principles applies in any of the fields of business (marketing, finance, etc…) and people inevitably face ethical decisions in their every day working lives.…

    • 506 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Business Etics Abstract

    • 1462 Words
    • 6 Pages

    Business ethics can be defined as written and unwritten codes of principles and values that govern decisions and actions within a company. In the business world, the organization’s culture sets standards for determining the difference between good and bad decision making and behavior.…

    • 1462 Words
    • 6 Pages
    Good Essays
  • Powerful Essays

    Business ethics dictates a set of standard principles and values that should be taken into account in a company’s everyday activities. It is composed of both written and unwritten codes of moral standards that are crucial to the current and future activities of a business organization. It addresses issues within a company such as the misuse of company resources, accounting fraud, defective products, bribery, conflicts of interests, etc.…

    • 3383 Words
    • 14 Pages
    Powerful Essays
  • Powerful Essays

    Business Ethics

    • 2264 Words
    • 10 Pages

    Business ethics (also corporate ethics) is a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations.…

    • 2264 Words
    • 10 Pages
    Powerful Essays
  • Better Essays

    Busin

    • 2022 Words
    • 9 Pages

    What is business ethics? The word business can mean different things, but in this context it means a commercial or industrial endeavor to make/sell products or services. The word ethics is defined as a set of principles of right conduct or a system of moral values. So what does business ethics mean? Used together it means for a commercial/industrial endeavor to form a set of principles or rules to follow while they are making or selling products or services. The word business ethics is frequently heard as it relates to social responsibility. According to the dictionary social responsibility is “an ethical ideology or theory that an entity, be it an organization or individual has an obligation to act to benefit society at large” (the freedictionary.com). Three notable management authorities: Patrick Murphy, Milton Friedman, and Peter Drucker, have different opinions on what business ethics and social responsibility are and what is should mean to the business world.…

    • 2022 Words
    • 9 Pages
    Better Essays
  • Powerful Essays

    3. How does the local community feel about this business, given that the previous owners have left people without jobs and suppliers unpaid for services? What do people think in terms of the social responsibility of this company and will it have any negative impact on the company for future trading business models.…

    • 2813 Words
    • 11 Pages
    Powerful Essays
  • Good Essays

    Shutdown at Eastland

    • 716 Words
    • 3 Pages

    When Danone closed one of their plants in 1995, the company demonstrated their social responsibility to the stockholders, employees, local community and suppliers. Danone realized that “production plant closures tend to lead to a drop in local income and tax revenues, a deterioration of public services and the loss of investment appeal” for the local…

    • 716 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    Some people say that ethics do not have anything to do with business. Others say that businesses have moral obligations that go beyond just functioning according the law and doing what is best for the company and its shareholders. Business ethics examines ethical principles, ethical problems and obligations that apply to people doing business. Companies have the obligation to ensure that their actions cause as little harm as possible to the environment, society and employees. It is difficult to say what is ethical and what is not in business world since ethics can be examined from many different perspectives. Employees, excecutives and society can have a different opinion of what is ethical. This can lead to conflicts of interest where the company has to decide whose ethichal guidelines to follow.…

    • 1479 Words
    • 6 Pages
    Powerful Essays
  • Good Essays

    Model Answers

    • 2924 Words
    • 12 Pages

    Business ethics is a set of principles that should be followed when conducting business. In addition to a firm’s social responsibility, which describes the firm’s responsibility to its community and to the environment, business ethics also include the firm’s responsibility to its customers, employees, and creditors.…

    • 2924 Words
    • 12 Pages
    Good Essays
  • Powerful Essays

    Chapter 7

    • 2072 Words
    • 7 Pages

    Business ethics is concerned with morality and fairness in behavior, actions, policies, and practices that take place within a business context.…

    • 2072 Words
    • 7 Pages
    Powerful Essays
  • Good Essays

    Business ethics is a management discipline born out of the social awareness movement of the 1960s’ that has improved society substantially. Business ethics is also the “study of ethical dilemmas, values, and decision making in the world of commerce that addresses environmental, social, and governance concerns” (Academic Info, n.d.). A business or organization builds integrity and trust with society by demonstrating sound business ethics in its mission to provide a good or service to the market.…

    • 624 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    Csr of Sony Corp.

    • 3202 Words
    • 13 Pages

    Business ethics is a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations…

    • 3202 Words
    • 13 Pages
    Powerful Essays