Costs and Benefits of Business Ethics

Essay Instructions:

In the Module 4 Case, you will perform a critical analysis of two organizations and their application of business ethics.

Note: You may complete the Module 4 Case and SLP in any order you prefer.

Required Reading

Download the Anglo-American and Primark case studies using the following links:

Primark:

http://businesscasestudies(dot)co(dot)uk/primark/providing-consumers-with-ethically-sourced-garments/introduction.html#axzz3FYNqQuTW

Anglo-American:

http://businesscasestudies(dot)co(dot)uk/anglo-american/business-ethics-and-corporate-social-responsibility/introduction.html#axzz3FYNqQuTW

Scan the following article by Svennson & Woods:

Svensson, G., & Wood, G. (2008). A model of business ethics. Journal Of Business Ethics, 77(3), 303-322. Accessed on November 19, 2012 from EBSCO.

Assignment

In a well-written 5-7 page critical essay, respond to the following, using Anglo-American and Primark as examples:

Using the Svennson and Wood business ethics model, assess the ethics of the business practices of Anglo-American and Primark, discussing the costs and the benefits to organizations that act ethically.

Keys to the Assignment

Describe what is meant by ethical business behavior;
Describe how these two companies – Anglo-American and Primark – apply ethics in practice;
Discuss the costs and benefits to an organization when that organization behaves ethically; and
Choose one component of Svennson & Woods’ model (found in the journal article “A Model of Business Ethics”), and discuss how your chosen component is relevant for Anglo-American and/or Primark. For example, you might choose “external stakeholder relationships” (page 314), and discuss how Anglo-American benefits from its positive stakeholder relationships (see page 4 of the Anglo-American case study).
Perform some additional research in the TUI Library, and use at least three or four additional sources to support your analysis. Be sure that you have properly cited all sources using APA style.

Assignment Expectations

Your paper will be evaluated using the following five (5) criteria:

Assignment-Driven Criteria (Precision and Breadth): Does the paper fully address all Keys to the Assignment? Are the concepts behind the Keys to the Assignment addressed accurately and precisely using sound logic? Does the paper meet minimum length requirements?
Critical Thinking (Critical Thinking and Depth): Does the paper demonstrate graduate-level analysis, in which information derived from multiple sources, expert opinions, and assumptions has been critically evaluated and synthesized in the formulation of a logical set of conclusions? Does the paper address the topic with sufficient depth of discussion and analysis?
Business Writing (Clarity and Organization): Is the paper well written (clear, developed logically, and well organized)? Are the grammar, spelling, and vocabulary appropriate for graduate-level work? Are section headings included in all papers? Are paraphrasing and synthesis of concepts the primary means of responding to the Keys to the Assignment, or is justification/support instead conveyed through excessive use of direct quotations?
Effective Use of Information (Information Literacy and References): Does the paper demonstrate that the student has read, understood and can apply the background materials for the module? If required, has the student demonstrated effective research, as evidenced by student’s use of relevant and quality (library?) sources? Do additional sources used in paper provide strong support for conclusions drawn, and do they help in shaping the overall paper?
Citing Sources: Does the student demonstrate understanding of APA Style of referencing, by inclusion of proper end references and in-text citations (for paraphrased text and direct quotations) as appropriate? Have all sources (e.g., references used from the Background page, the assignment readings, and outside research) been included, and are these properly cited? Have all end references been included within the body of the paper as in-text citations?

Tips and Suggestions

Please perform a critical analysis of the Anglo-American and Primark companies - and their business ethics practices. Your paper will be graded on the rigor of your analysis.
Remember to follow the Well-Written Paper guidelines.
Submit your completed Case by the due date for Module 4.

Essay Sample Content Preview:

Business Ethics
Name:
Institution:
Introduction
Business ethics is a crucial part of business practices. Over the years businesses have had to change their approaches as to how they carryout business with respect to moral and legal codes. Business ethics requires that businesses establish and practice the highest standards of legal and moral codes with reference to all the parties that they interact with in the community. When a business sacrifices that satisfaction of the customer at the benefit of high short term profits, this reduces the chances of the business surviving the long term goals (MacDonald, 2014). Ethical decisions also impact the reputation of the business to suppliers and other business associates in the industry. This also covers the employees working for the business, where they have to be treated to the highest standards of employment and benefits (Businesscasestudies.co.uk, 2014a). Community members from the vicinity of the business premises also have to be treated with utmost respect and dignity they deserve, with close reference to their needs and well-being, as well as their environment. As such, business ethics covers all practices held with the highest legal and moral standards to all the entities that the business interacts with. This paper covers the ethical aspect of the both Primark and Anglo-American with close reference one of the fundamental models that relates to business ethics; the Svennson and Wood Business Ethics Model (Svensson & Wood, 2008).
Costs and Benefits of Business Ethics
For the better majority of people in business, whether at the rank of business managers or the employees there are benefits and tradeoff that one has to deal with. There are dilemmas that businesses to deal with at the turn of every decision making process. As such coming up with the right culture that observes ethical measures in the industry is much trickier that theoretical justifications passed at the board meetings. Companies recognize that there is more to running a business than making profits relative to the triple bottom line that a business has to observe. The planet, people and profits are the triple bottom line (MacDonald, 2014).
Benefits Accruing
For businesses that follow the ethical codes in their practices there are a number of benefits that they get. Other than avoiding legal complications, one of the main benefits involves the fact that they have a competitive advantage over the rest that do not follow ethical practices (MacDonald, 2014). Customers, suppliers and other business associates including government agencies will tend to favor businesses that follow high standards of business ethics. It is also common that customers will tend to develop trust and brand loyalty for companies that have high ethical standards. This means that even in the times of economic slumps, the companies that follow high standards of ethics, will still enjoy quality customer loyalty, while the rest struggle to even maintain sales and manage their costs. Where there are mishaps, businesses with high business ethics standards have a better chance of recovering from bad publicity that the rest that do not. This is with close reference to the fact that companies with high standards in ethics also uphol...

Updated on January 26, 2024

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Costs and Benefits of Business Ethics

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