The Values and Ethics in Business

Question: Imagine yourself in a situation where you are a manager in a government establishment. A bid has been submitted to your office for supply of new computers and your best friends company (Radax) is one of the bidders. Your friend has spoken to you about the bid and you have realized that Radax does not really have the best bid. Describe the ethical concerns that have arisen from this scenario. Do you think your choice would be most affected by your individual moral development or by the cultural values of the organisation for which you work? Explain. Answer: Introduction The values and ethics in business are the various types of guidelines and set of qualities that are likewise in charge of representing the activities or the practices of people who work for the business association, along these lines encouraging the method for accomplishing the objectives and goals of the association effortlessly and within a short period of time. This topic will include the significance of business ethics, the various ways by which ethics are managed within workplace along with the ethical dilemmas too. The methods or techniques by which the ethical issues could be resolved will also be included in this report and also the choice which has been made by the manager finally considering the bid that has been made by another company (Agle et al, 2008). Business ethics The ethics in business are referred to as the different kinds of applied ethics or ethical and professional practices that are applied in order to identify the ethical principles as well as ethical issues or problems which might have arisen within the business environment. The business ethics are applied to a number of aspects for the conducting of business and are also relevant to the conduct of the whole organization or how the individuals are managed within the organization. The ethics in business are the different kinds of standards and set of values that are also responsible for governing the actions or the behaviors of individuals who work for the business organization, thus facilitating the way of achieving the goals and objectives of the organization with ease and effectiveness (Christensen et al, 2007). The business ethics consist of both descriptive as well as normative dimensions, but as because there is involvement of corporate practices, so it has been mainly normative d imension in this case. The various kinds of ethical issues and the number of those issues are concerned with the interaction of maximizing the profit concerned with the non-economic conditions. Nowadays, most of the business organizations are focused on promoting the commitment to the values of non-economic conditions like the social responsibility charters and ethical codes (Crane Matten, 2007). According to the case study, a bid has been made by my friends company named Radax, where I need to provide new computers. But after speaking with my friend, I came to know that the company does not have the best bid till date. So, I decided to make a choice on my own based on the cultural values of my company and development of morale. The application of ethics helps in regulating the different kinds of areas and situations as well as the behaviorist details that are out of the control of Government. With the rise of multinational business organizations which have very limited relationshi p and sensitivity with the communities where those operate, the ethical standards are needed to be maintained for making the organization function in an effective manner within the business environment (De George, 2011). Managing ethics within workplace I have been working as a manager of a Government organization and I have been provided with a bit where I need to provide a supply of new computers to another company named Radax which has been owned by my friend. After interacting with my friend, who own the company Radax, I came to know that Radax do not have the best bid. There have been a large number of ethical concerns which have emerged in this kind of situation. The ethics have helped me to understand what is right and what is wrong considering the case where I need to supply our products and services to another company which has been the bidder. This is based on the different kinds if impact of products and services and also the relationship with the stakeholders. Business ethics are essential during different times of fundamental changes both in case of profit as well as loss (Ferrell Fraedrich, 2016). I have paid a lot of attention to the ethics in business within the workplace which has helped me to act according to the situations irrespective of the kind of bid which has been made by the owner of another company in United Kingdom. Focusing on the business ethics also has helped me to struggle and overcome crisis and complex situations with ease and also regains a strong moral development. Reacting to the business ethics means doing what is right for business and also copes with the stress and crisis situations in business. A corporate program of ethics consists of different kinds of values, policies and activities that are responsible for making an impact on the proprietary of the behaviour and attitude of an organization (Giacalone Thompson, 2006). Ethical dilemmas considering the case The ethical dilemmas could be stated as different kinds of complex situations which could result due to the mental conflict between the moral imperatives in business. Here the ethical dilemmas arise when I became confused of whether to supply the computers to the company Radax or not. This is because firstly, it is the company which is owned by the company and secondly, it does not have the best bid, as founded by me after interacting with my friend and speaking about the bud. The ethical dilemmas have also occurred due to the disapproval of the ethical systems and moral codes (Hoffman et al, 2014). This is a serious problem, as I, as a manager of a Government establishment has to choose between a moral and immoral act. This is an opportunity for me to deal with this kind of pressure situation and also help my company to success within the business environment in an efficient way. Based on the cultural values of the company, I also must make sure that my company might not face loss d ue to the bid which has been made. This could result in harming the ethical standards as well as cultural values of the company, which further might deteriorate the condition and functioning if the business organization as well (Ritter, 2006). Ethical Theories Ethics and business decisions making go hand in hand and leaders are expected to undertake ethically significant decisions regularly. Ethical theories have been classified broadly into four broad categories: Deontology, Utilitarianism, rights and virtues. Deontological theories illustrate that individual should stick to their duties and responsibilities while engaged in the process of decision making. Crux of this theory is on upholding ones duty while discharging obligations in an ethically right manner. However one drawback is that individual ethics can vary from person to person and as such there is lack of uniformity (Hoffman et al, 2014). Focus of Utilitarian ethical theories is on making choices that benefit majority of the people. Utilitarian theories are further classified into act utilitarianism and rule utilitarianism. Focus of act utilitarianism is on undertaking acts that benefits majority of the people irrespective of personal consideration or societal norms. On the other hand rule utilitarianism focuses on existent laws and deems the fairness of a decision. The rights theory focuses on endorsement by a majority of people in a society and therefore the societys goals and priorities have to be decided first. As such, rights theories can be successful when they are applied in conjunction to other ethical theories (Rossouw Van Vuuren, 2013). As the name suggests, virtue theory within ethics evaluate a person by his/her character rather than by action. Evaluation of character is done by analysing moral, character and impulse. Virtue theory fails to account for any change that may happen to a person. Different theories have different approaches on deciding the ethics and the decision making process vary from person to person. It can be stated that ethical theories seek to uphold the four tenets of beneficence, least harm, respect for autonomy and justice. Process of decision making revolves around numerous stakeholders and as such the decision making process tends to get complicated at times. Ethics provide guidance and insight as to the right course that will lead to benefit of the involved parties (Agle et al, 2008). Ethical theories seek to provide guidance to decision makers while undertaking verdict or judgment. Experiences also form a significant part in deciding what is right or what is wrong and such experience can be useful in comparing consequences arising as a result of undertaking a decision. The decision making process vary from person to person and involves different parameters for different person. Organisational aims and goals are also need to be kept in mind whil e implementing a particular decision. The case study of Radax can be analysed so as to better understand ethical concerns while undertaking or implementing a decision (Trevino Nelson, 2010). The manager of the government establishment that has received the bid has to separate his personal interests from that of the organisation. The best has to be chosen irrespective of the personal rapport of the manager with Radax. The manager has to prioritise the needs o the organisation where he works and has to choose the best bid. The decision making process has to adhere to the tents of act utilitarianism so as to benefit greater number of people without considering personal interest. Resolving ethical dilemmas I also must make sure that my friend does not develop any kinds of negative thoughts on me, which might create distance between our friendships. But my first priority would be my company, where I work for. So, it is my duty to resolve all the ethical dilemmas and preserve the cultural values so as to make sure that my organization can gain profit and also survive in the competitive business environment. There could be pressure while gaining the best deals from another business organization, which could also make the workers negotiate in bad faith. The ethical dilemmas could often be difficult to resolve based on the guidelines, rules and regulations of the company (Rossouw Van Vuuren, 2013). The management of the company must also be responsible for considering the ethics seriously and prevent kinds of unethical practices of misconducts. As a manager, I personally think that the ethical dilemmas faced by the managers are the most difficult and complex to resolve. As seen from the ca se study, this is a problem in personal friendship, which has been the ethical dilemma is this case. Based on the cultural values of the organization, I also must not make any misconduct which could harm the organisational functioning and condition, so I have personally preferred to cancel the bid which has been made by the company Radax. The culture comprises of the different kinds of ethical values, norms and behaviours of the organization (Rossouw, 2005). A number of guidelines, rules and regulations are imposed which are needed to be maintained by the manager in order to fulfil the criteria as well as maintain the ethical standards and healthy culture within the organization. So, in order to resolve the conflicts and ethical dilemmas, the ethics in business are needed to be maintained which is the most appropriate choice in this case. The codes of ethics have also specified the various rules and regulations that are needed to be maintained for managing the business operations an d processes by the manager (Trevino Nelson, 2010). These codes have certain values and are essential for managing ethics within the workplace. Therefore, after looking into this matter considering the bid which has been made, I have made a final choice that I would not approve the bid, as it might be inappropriate for the company, both in terms of profit as well as cultural values. My choice has been mostly affected by the development of morale and cultural values of my organization in which I play the role of an efficient manager for a long time (Weiss, 2014). Conclusion The Government has introduced several types of guidelines, rules and regulations in order to determine the business behaviour and understand the ways by which they could perceive in order to provide effective directions for the success of business. The current report further expands its explanation by covering the various aspects of business ethics as well as the different kinds of ethical issues and dilemmas which might result considering the case. 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