Training in ethics for management personnel Essay

Training in ethics for management personnel - Essay Example The Columbia Encyclopedia (2003) defines business ethics as the study and evaluation of decision making by businesses according to moral concepts and judgments. Issues involved in ethical business decisions include a company's obligation to be honest with its customers, a company's responsibility to preserve the environment and the protection of employee rights. Ethical conflicts arise due to the differences in the interests of company owners, workers, customers, and the community wherein which the business operates. The dilemma for managers is how to balance the need to produce profits for shareholders with honest business practices, safety in the workplace, and environmental and social concerns. The globalization of businesses and diversity in the workplace have also contributed to the complication of ethical issues because of different government laws that define the limits of criminal behavior. Practices which are deemed as bribery, sexual harassment, racial discrimination, and l ack of concern for the environment, may be held as criminal in one country but are neither illegal nor unethical or unusual in another. The company must then decide whether to adhere to its traditional ethical principles or not, especially if this provides opportunities for maximizing profits. According to Today's Market... use of these type of occurrences in the business milieu, the Sarbanes-Oxley Act of 2002 has become part of mandatory United States federal law that companies must adhere to. The Sarbanes-Oxley Act is intended to protect against corporate fraud and unethical accounting and reporting incidents. Thus, ethics training is now widely conducted to instill corporate values, rules and regulations in the minds of managers and employees. Ethics Training Ethics training aims to ensure that people are aware of ethical issues and the consequences of unethical behavior. Companies which conduct ethics training are benefited by the continual application of the company code of ethics in the everyday business environment. Ethics training provides a venue for communication and problem solving that guides participants in the resolution of complex issues brought about by conflicts of interest. It helps create a guide that may be followed when exercising discretion, while defining boundaries, limitations and expectations within the organization. An ethical workplace environment is characterized by properly exercised discretion, and ethics training is a step toward corporate compliance (Today's Marketer, 2008). An ethics training program encourages employee involvement in the process of reporting violations of the code of conduct, or any unethical practice. Compliant companies establish a procedure and a point of contact where whistleblowers my anonymously report violations. The process allows employees to be at ease when an unethical situation must be reported, and contributes to the company's corporate compliance program because it proves the company's willingness to eliminate unethical practices. Encouraging the reporting reduces catastrophic outcomes for the company, such as those which

Discussion on Peet's coffee Essay Example | Topics and Well Written Essays - 500 words

Discussion on Peet's coffee - Essay Example this matter, proper interest of customers is needed because company can attain its marketing goals with the support of professional persons and effective promotional plans. Cause of trends is different for various conditions because people are living with unpredicted financial and social conditions. Same condition is linked with Peet`s Coffee and Tea product as customers can attain this product after attainment of sensational status in the society. In case of trouble, people are unable to buy this product and this scenario is realizable for all humans without any complexity. So, companies should be careful in this matter and they should use proper marketing sources to gain attraction of people as customer to enhance the financial status. There are two common challenges which are faced in market by those firms which are offering already existing products. First challenge is linked with quality matter as it is basic element to enhance the financial power of any firm in the market. Accordingly, second challenge is linked with price adjustment that should be performed with observance of market and other relevant firms. This scenario is helpful to make Peet`s Coffee and Tea products successful in the market. Cash and capital resources should be used for promotion of firm and this technique is the cause of making financial tasks achievable and winning without any reservation. With these resources, companies can enhance attraction level of consumers and this scenario is supportive to achieve success in financial backgrounds without any intricacy in the communal way of life. Concern of latest technologies is sensitive in the present age because this is related with production of favorable results in the social and commercial surroundings. This is fact that Peet`s Coffee and Tea product can be made fame in the market by the use of efficient technological innovations that are reachable for all humans without any complexity. This scenario is realizable with the instance