You are a manager in a large, global manufacturing and services organization. You're trying to explain to your grandfather how different your job is from his. You both know how society has changed and and you want to explain how that has changed management. Discuss how management has changed with respect to corporate responsibility and ethics© BrainMass Inc. brainmass.com March 4, 2021, 7:24 pm ad1c9bdddf
Business ethics is the branch of ethics that examines ethical rules and principles within a commercial context; the various moral or ethical problems that can arise in a business setting; and any special duties or obligations that apply to persons who are engaged in commerce. The corporations apply business ethics by having good corporate governance.
Corporate Governance is all about promoting Corporate Fairness, Transparency and Accountability".
All parties to corporate governance have an interest, whether direct or indirect, in the effective performance of the organization. Directors, workers and management receive salaries, benefits and reputation; whilst shareholders receive capital return. Customers receive goods and services; suppliers receive compensation for their goods or services. In return these individuals provide value in the form of natural, human, social and other forms of capital. Hence It is clearly good that businesses should seek to minimize their negative social and environmental impact resulting from their economic activity.
Unsound financial reporting
The corporations should be aware of the long term issues rather than short term ones in business, even if it means forfeiting profits in the short run.
Take the case of World com which was involved in ...
The solution discusses how management relates to corporate responsibility and ethics in the context of a global manufacturing and services organization.