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Business ethics are related to moral principles and values which should be followed by the organization. On the basis of these, the firm will be able to know about that how they have to behave in the environment so that they can achieve success. Corporate practices should be based on code of conduct and along with this; companies are bound to form some laws and regulations which are made by the government. There are some of the business areas where they have to perform their operations and some of these are finance, human resource, and research as well as so on. When any department perform their operations, then they have to follow laws and policies so that smooth functioning can be ensured in the market.
Every industry has to set their laws and they have to ensure that all the staff members should follow these legislative rules. There are some of the key ethical issues and that are related to fundamental, decision making, compliance and governance. Fundamental issues are faced by business organization and these are related to the integrity and trust. There should be transparency within the company so that relationship can be build among all employees and employees. Manager has to follow these ethics so that customers will be able to get quality services. Diversity is related to culture and workforce of the enterprise. Along with this, all employees should get equal opportunity in the firm so that overall performance can be improved.
The present report is based on car manufacturing industries and they perform their operations in United Kingdom. Industries have to follow all principles and policies so that the growth can be enhanced in the market as compare to other rivals. The below mentioned report is based on business ethics which explains the key role of stakeholders and how they get affected by the ethical issues. Further, it also explains normative theories to resolve all the issues.
Stakeholder can be any person, group and organization that have some interest in the business. These people can affect activities of organization and along with this they also get affected due to operations and objectives of the company. There are some internal and external stakeholders which may influence objectives of the industries. Some of these internal stakeholders are employees, managers, directors, investors and on the other hand suppliers, customers, competitors, government are external bodies that may affect performance of the business organization. When companies make any policies and laws then all people who are associated with the firm have to follow these regulations so that their overall performance and growth can be improved in the country as compare to other industries.
There are some of the ethical issues that are faced by people who are working in the business organization. These issues are fundamental, decisions, governance and compliance. Internal stakeholders are:
These are the people who help the firm in achieving their objectives. They are directly associated with the activities of the enterprise. The manager has to provide equal opportunities to all workers so that trust and integrity can be built among all staff members.
These are one who led the firm towards success. The trust factor should be there between manager and employees so that overall performance can be improved. Manager and leaders directs employees in their work that what they have to do to achieve the specified objectives. They should involve all employees in the decision making process.
These people are highly affected due to decisions of manufacturing industries. These can directly affect business operations of the companies.
Some of the external stakeholders are there who are directly not associated with the firm but they can influence business operations. These are:
Every business organization performs their operations for their customers so that the firm can achieve success in the market. Consumer’s needs are changing from time to time so the manager has to identify expectations of people and according to that they are required to offer services to them so that they can fulfil their demands.
These are the rival firms which perform same operations as the business organization. They all perform their operations in the market to attract number of customers towards their services. For example, Toyota continuously monitors their performance to attain the competitive advantage in UK.
These are the local bodies that make some laws and policies for the organization so that smooth functioning can be ensured. Through these regulations, business organization will be able to perform better.
Normative is the study of ethical actions which are performed by the organisation in their business environment. Through these the companies will be able to know about the right and wrong and their consequences which they have to face. Normative is related to the moral philosophy and principles that should be followed by the companies. This theory is the combination of consequentialist and non consequentialist.
Consequentialist is related to the right and wrong on the basis of the consequences and results. Car manufacturing industries have to follow these business ethics and also provide equal right for male and female so that overall performance can be improved. On the other hand, non consequentialist are related to the righteousness and wrongness actions on the basis of the intrinsic features and characters. Some of the theories are:
This theory is related to the level of happiness that are related to our actions in an efficient manner. It also says that our actions are right if these are beneficial for the number of people so that happiness can be spread with the actions. Along with this, car manufacturing industry should not perform such strategies whose consequences are uncertain because through this the firm will not be able to accomplish their objectives. It suggest a flexible result oriented approach so that an efficient result can be identified. There are some difficulties that are associated with the approach that organization sometimes performed immoral activities in order to enhance the happiness.
when any actions are performed by the organization for their self interest or personal advantage. The car manufacturing industry use their self interest in order to gain the benefits so that they can achieve success as compare to other competitors. This theory is based on the behaviour of the human being. It has been critically argued that this is not applicable for all individual because all human beings are not selfish. Along with this, it is not moral theory at all.
It is the responsibility of all individual to perform their duty on the basis of the ethics so that overall performance can be achieved. These ethics are based on the rules and regulations that should be followed by the members in order to ensure quality services to their customers. This is related to the act that is going to performed by all employees in the firm with the right intention. This is theory is not clear because they will not be able to distinguish between the intentions of doing any task.
This is related to the rights of the people that they have as they are human being. These rights can be legal in nature and some are natural that are possess by any person. Car manufacturing industry have to follow these legislative laws so that they can ensure the smooth functioning in the business environment. For example, Ford follow ethical principles in the business organisation so that they can sustain their competitive advantage in the market as compare to other rivals. It has been critically argued that these rights may not be able to help the firm in order to spread the happiness in the environment with their act.
This theory of normative ethics deals with the characters of the people rather than their actions. This describe the right actions as per the character of the person. In this, the car manufacturing industries set their goals and objectives and perform such actions so that these goals can be accomplished on time. It is the based on the consequentialist theory that are focused on their outcome so that their overall performance can be improved.
According to the Ryan, Buchholtz and Kolb, 2010 he said ethical practices should be performed by the business organization so that they will be able to achieve their specified goals and objectives. On the basis of these principles, they perform certain actions so that an efficient outcome can be achieved. It has been critically analysed by the Provis, 2010 that actions should be based on the behaviour of the companies and on the basis of that need they will be able sustain their competitive advantage in the market as compare to other market leaders in United Kingdom.
There are various internal and external factors that may affect the performance of the business organization. Along with this, when any company perform its operations in the environment than they have to deal with certain issues that may arise due to their weaknesses. Car manufacturing industries can use certain expertise in order to solve all dilemmas that business is facing in the country. In order to resolve all issues experts can follow a systematic approach and some steps are also involved in this approach:
Triple fountain theory can be used by the car manufacturing industry so that the organization can use improve their principles and policies in order to get the success in the market (Redfern and Crawford, 2010). So, car manufacturing industries have to follow the ethical approaches in their organisation so that their right actions can be conducted in the firm on the basis of right consequences. Through this the industries will be able to accomplish their specified objectives.
From the above carried out analysis it has been concluded that organizations should follow the ethics so that they will be able to get success in the market as compare to other market players. Ethics is related to the policies, procedures and principles that can ensure the smooth functioning in the business environment. There are certain stakeholders that may affect the activities of the firm and they also get affected due to operations of the enterprise. Some of the stakeholders are customers, employees, suppliers, government, competitors and so on. All staff members have to follow these rules and regulations so that they can offer quality services to their customers. There are some theories that are related to the business ethics such as utilitarianism, egoism, ethics of duty, ethics of rights and virtue ethics. These all theories are based on the actions and their consequences. Through all these normative theories, car manufacturing industries can get success and improve their growth in the market. When dilemmas are occur in the industries than the firm can use some approaches in order to resolve all the problems. In order to reduce all the issues the entity can use a systematic approach in order to make the decisions. Car manufacturing industries may face some ethical issues within their business environment. Some of these issues are fundamental, decisions making, governance and compliance. Furthermore, the enterprise should resolve all these issues so that quality services can be given to the customers in an efficient manner.
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