MGT610 Assignment 01 Fall 2020 Solution / Discussion Due Date: 11-12-2020
SEMESTER FALL 2020
BUSINESS ETHICS (MGT610)
ASSIGNMENT NO. 01
DUE DATE: DECEMBER 11, 2020
Managers are fully aware of the complexity of information inputs and processing while making strategic and operational decisions. This complexity is growing with the increase in the dominancy of businesses by multinationals and growth of networks and strategic alliances and consortia among global corporations. Researchers are of the view that managers use different criteria in different countries for evaluating businesses. This leads to the conflict among the managers and ethics is considered as a major cause of conflict.
Discuss micro level internal factors (company specific factors) which can help the organizations in shaping their ethical and moral values.
To make an enriched discussion you are required to go through the article titled “Global ethics: An integrative framework for MNEs”. The article is available in downloads section at VULMS as “Business Ethics-Assignment01 Fall 2020”. Copying as it is from the article or any other source would be considered as cheating and would be graded 0 marks. Try to produce your own answers with the help of the article. You can search additional material apart from the given article as well.
Desai, A. B., & Rittenburg, T. (1997). Global ethics: An integrative framework for MNEs. Journal of Business Ethics, 16(8), 791-800.
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MGT610 Assignment 1 Solution Fall 2020
Owners and Shareholders
Owners are people who invested in the company and have property rights and claims on the organization. Owners can be an individual or group of persons who started the company; or who bought a share of the company in the share market.
They have the right to change the company’s policy at any time.
Owners of an organization may be an individual in the case of sole proprietorship business, partners in a partnership firm, shareholders or stockholders in a limited company or members in a cooperative society. In public enterprises, the government of the country is the owner.
Whoever the owners, they are an integral part of the organization’s internal environment. Owners play an important role in influencing the affairs of the business. This is the reason why managers should take more care of the owners....
Board of Directors
The board of directors is the governing body of the company who is elected by stockholders, and they are given the responsibility for overseeing a firm’s top managers such as the general manager.
Employees or the workforce, the most important element of an organization’s internal environment, which performs the tasks of the administration. Individual employees and also the labor unions they join are important parts of the internal environment.
If managed properly they can positively change the organization’s policy. But ill-management of the workforce could lead to a catastrophic situation for the company.
Organizational culture is the collective behavior of members of an organization and the values, visions, beliefs, habits that they attach to their actions.
An organization’s culture plays a major role in shaping its success because the culture is an important determinant of how well their organization will perform.
Resources of the Organization
An organization s resources can be discussed under five broad heads: physical resources, human resources; financial resources, informational resources, and technological resources. Physical resources include land and buildings, warehouses, all kinds of materials, equipment and machinery.
Examples are office buildings, computers, furniture, fans, and air conditioners.
MGT610 Assignment Solution:
The best part in internal factor is that organization can control them. Every factor have individuals effect in organization .Some of factor are discuss here.
Employees: Every individual has a unique set of personality traits,backgrounds and experiences.while organization cannot fully controll individuals and the way they act, they can use guidelines and mandated expectations to help guide the behaviour of their employees.A mission.statements,code of ethics and policies and procedure guidelines are among a large number of documents and standards organization use to help foster and direct their employees.
Leadership: Organizational culture is outlined at the highest level of an organization and communicated,supported and enforced throughout every other level.therefore, Leadership is a big internal factor that drives culture.
Capability and Support: As we discussed in external factors,training and development is a big part of successfull organization.the best way for a company to support their employees is to provide them with the support and training necessary to complete their job functions.Employees who are support and have capability to complete their job are generally happier and more satisfied with their company.
Nature Of The Bussiness: Each industry has differing focuses that help to shape their organizational culture.An accounting firm will have different standards and expectations then an art gallery.while certain ethical concerns may be universal, the naunces with each industry will look different.These differences will help to shape the culture with in organizations.
Resources: Providing employees with the necessary resources to complete their job is at non negotiable for a successfull conpany.when organizations are unable or refuse to provide their employees with necessary resources,they are met with disgruntled and frustrated employees .A lack of resources has a negative impact on company culture and can creat an unsatisfactory work environment.By providing resources,organization can better support their employees to complete their jobs more efficiently.