Business Ethics And Corporate Social Responsibility Assignment Sample
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The business world is becoming highly competitive, and along with this, the responsibilities of the businesses is also increasing rapidly. For working effectively, it is important for the businesses to focus on having strong business ethics and corporate social responsibilities of the company. Business ethics is the set of moral principles and ethics which are being focused by the organisation while operating in any of the industry which can help them in working in an ethical manner (Blundell, 2020). When the businesses are operating in any of the business environment than it is important for the company to concern for the social and environmental factors which are affected by the business and their operations, it can be said that the corporate social responsibility of the company is referred as the concept that how the businesses are working effectively for creating a positive impact on the society and environment in which they are operating.
Both corporate social responsibilities and business ethics are very important for companies while operating in a business environment. In the present report, the different factors associated with the corporate social responsibilities and business ethics are explained. The report focuses on the case of Caffe Terra, which is a coffee brand shop operating in the UK and now looking forward to expanding their business internationally. In this report, the researcher will explain how the cited company should focus on their business ethics and should develop better strategies for the CSR activities of their effective supply chain management.
Values and business ethics in business
Values and ethics are equally important for business and effective business management. The values and ethics can be referred to as the principles and the code of conduct which helps the businesses in working in an effective manner which is important for the success of the company when the businesses are working with a larger number of employees than it is important for the company to develop better code of conduct for the company which can ensure that all the employees of the company should work in an ethical manner (Kelchner, 2017). For all the businesses, it is important to develop an effective code of ethics which focuses on working effectively and can help them in satisfying the needs of all the stakeholders and their needs in an effective manner.
The cited company should focus on developing the code of conduct which can develop the business ethics among the employees and in the company such as honesty, loyalty, fairness, concern for others, respect for others, integrity and equal treatment for all. Caffe Terra is now focusing on expanding themselves internationally so the company needs to understand that the culture issues are also very important for the international businesses and the company should ensure that all the employees should be treated equally irrespective of their socio-cultural differences. Along with this, the company should focus on ensuring that the employees should have a positive attitude towards values such as truth and justice and should work in an ethical manner in the organisation (Simm, 2020). It can be said that the cited company should focus on developing effective, ethical code of conduct for the company which would help them in building a positive international image and help them in working effectively in the international business environment.
Ethical decision making in business management
The businesses should have better ethical code of conduct in the company, and the employees of the company should hold better values and ethics which are important principles which guide their behaviour and decision making in the organisation (Stenmark, et. al. 2020). The business needs to make several decisions within the organisation related to the management of business operations, but it is important for the businesses to focus on making an ethical decision. Ethics plays a major role in decision making. When the Caffe Terra would expand to the international business than they will have to make a different decision, but they should focus on ethical decision making which is referred as the making decisions while considering the ethics and values and choosing an appropriate alternative among all the different available options. The managers and the leaders of the company should make ethical decisions within the organisation which will ensure that the company is operating in an ethical manner, and the values and ethics are held good in the organisation. Along with this, the cited company should also focus on offering better training to their employees which can help them in making ethical decisions within the organisation. It can be said that the cited company should focus on building a culture which promotes that the manager and the employees should make an ethical decision which is important for building trust and transparency in the organisation.
Ethics management process in business management
Holding the ethic well in business management is very important for organisations. The managers of the company should focus on managing the businesses in an ethical manner which is important of the businesses. When the manager is managing the organisation, then it is important for him to focus on the ethical principals such as respecting all the employees, being fair with all the employees, ensuring that all the employees should treat each other with respect and developing transparency in the decision making. For the cited company Caffe Terra, it is crucial that the manager of the company should manage the firm ethically. The manager and the leaders of the company are the ones who are having a significant influence on the employees and if the manager is not working in an ethical manner than it would have a negative impact on the employees. Also, if the employees of the company are not treated or managed in an ethical manner, than would have a negative impact on employee behaviour and would lead to higher employee turnover and poor business management. It can be said that it is important for businesses to manage the company in an ethical manner, and leadership ethics is important for effective business management.
Analyse the concepts of knowledge and fair judgement in management in a business context
When the businesses are being managed at the international level than it is important for the businesses to focus on managing the knowledge effectively in the organisation, it is important for the businesses to focus on the knowledge management which is referred as the process of managing knowledge in an effective manner within the organisations (Webb, 2017). Caffe Terra needs to focus on developing an organisation which promotes effective knowledge sharing in the organisation, and all the employees of the company should share their ideas and experiences with one another so that they can expand their knowledge. The concept of knowledge management is very important for the businesses and the management of the company needs to focus on this in an effective manner.
In business management, it is important for the company to focus on human resource management in an effective manner. For human resource management, the concept of fair judgement is very important, and the management of the company should focus on treating all the employee equally, and no discrimination should be practised in the organisation. The managers of the company should ensure that no favouritism is being practised in the organisation, and all the employees of the company should be treated in a fair manner. Along with this, while making decisions also, it is important for the managers to focus on the fair judgement in the organisations.
Evaluate the contribution of knowledge management and fair judgement to business
The cited company should focus on the concept of knowledge management and fair judgement as they are having a significant impact on the organisation and contributes to the success of the company. Better knowledge management is important for the businesses as it helps in better idea-sharing and bringing innovation in the organisations and offers a better competitive advantage for the company (Abubakar, et. al. 2019). Along with this, it also helps the company in improving the decision-making process of the company and also offer better problem solving, which is having a positive impact on organisational performance. It is also having a positive impact on the development of the skills and knowledge of the employee which would help them in being more effective while working and delivering high-quality work to the company which enhances the productivity of the company. It can be said that the cited company should focus on developing better knowledge management process, which would help them in enhancing the overall productivity and profitability of the company.
Fair judgement is also having a significant impact on the organisation because it is having an impact on the human resource management of the company. It can be said that the cited company should focus on treating all the employee equality and fair judgement which can help them in satisfying the employees with their jobs. Along with this fair judgement is also having a positive impact on the organisational culture and the behaviour of employees within the organisation (Ferreira, et. al. 2018). Caffe Terra should focus on fair judgement effective so that they can manage the human resource of the company in an effective manner which is important for the success of the company.
Evaluate the impact of business knowledge on the supply chain process in business management
Better knowledge sharing within the organisations is important as it is also having an impact on the supply chain management of the company. If the knowledge is managed well in the organisation, then it helps the company in developing better skills and knowledge of the employees of the company. Information and knowledge sharing is important for all the different departments and sectors of the organisation as it affects the knowledge of the employees and helps them in being effective while working (Lim, et. al. 2017). Knowledge sharing among all the stakeholders of the supply chain and better idea sharing among the employees working in this sector helps the businesses in managing the supply chain effectively and efficiently.
Effective knowledge management is having a positive impact on increasing operational efficiency, which supports better supply chain management in the organisation. Along with this if the company has better knowledge management than it would help them in developing better cooperation and collaboration among the employees of the organisations. The company should ensure that they should have a better knowledge of the business, which can help them in maintaining better interactions with the suppliers, and it also allows them in satisfying the needs of the customers. It can be said that the case company should focus on managing knowledge effectively as it is having a significant impact on the management of the business operations and is important for enhancing the productivity and profitability of the company which can lead the company towards success and development.
Meaning of change in the organisation
In the fast-growing business world, it is important for the business to focus on bringing effective change in the company, which can offer better benefits to the company and lead them towards success and development. Change in the organisation is referred to as the actions which are being taken by the business for bringing change in the firm. The companies can change in their strategies, policies, working principals, procedures, technologies used, human resource management, changes in the mission and vision of the company and change in the business operations are the most common changes for the businesses (Jayatilleke and Lai, 2018).
Changes are interrelated with each other, and it is important for the businesses to bring positive change in the company and to manage the change in an effective manner for which proper change management is required. If the company is looking for a change, then it is important for them to focus on all the factors of the business so that they can manage the change in an effective manner. For instance, the case company Caffe Terra is looking forward to bring a significant change in the company by expanding its business operations from national to international level when the company is looking for bringing such a change in the business operations than it is important for them to manage the change in an effective manner so that better outcomes of change can be received by the company.
Impact of change on business operations
When change is being implemented in the organisation than it affects the business operations in the number of ways, and it is important for the businesses to manage the change effectively so that the change can provide benefits to the company. The impact of change can be positive or negative on the organisation but depends on the implementation of the change (Thakur and Mangla, 2019). The cited company should focus on describing and implementing the change in an effective manner which can help them in successful market expansion and going global or doing market at the international level when any of the change is implemented in the organisation than it transforms the business and makes significant changes in the processes, people and technology in the organisation.
Going global for the cited company would not be an easy thing for them as it would transform the dynamics of the business operations. All the things would be changes for the cited company as operating at the national and international level are completely different. Caffe Terra had to make significant changes in business strategies and policies. Along with this, the company should also have to significant changes in the supply chain management, human resource management and overall business management.
Processes and Challenges of transformations in the business environment
When the organisation focuses on bringing change or the transformation in the organisation than there is a number of challenges which affect the businesses, if the company is making any change in the organisation, then it is important for them to train their employees so that they can manage the change effectively as the cited company is transforming from operating at national to the international level they need to train their employees according to it. The cited company will face the major challenge in managing the multiple teams which are operating in different parts of the world when the businesses make changes than there are chances than the business might face challenges in managing the human resource because in some of the cases employees resist change in the organisation as they are happy with the present working system of the company and they don't want any change in it.
For the cited company managing the teams across the borders and managing the business operations across the borders is also an important challenge. Other than this other changes which are being faced by the businesses while making the change in the company or transformation include the lack of proper planning, poor implementation of change, challenges in adopting the new technologies and effective communication of the change which is being made in the company (Adnan, et. al. 2018). It can be said that the businesses should focus on implementing the change effectively, and this the company should focus on better change management which can help them in managing the challenges of change in an effective manner.
Concept of Corporate Social Responsibility for businesses
When the business is operating in a business environment than it is important for them to focus on the social and environmental factors which are affected by the company, in the present world it had become important for the businesses to focus on meeting the needs of the present customers without affecting the abilities of the next generations to meet their needs (Advantage, 2020). Businesses are responsible for the impact of their business operations on the environment and the societies as well. The concern of the businesses is increasing towards their corporate social responsibilities, and it is important for them to focus on creating a positive impact on the society to which they are offering their products and services.
Corporate social responsibility of the company is referred to as the efforts made by the company to improve society and to add value to the environment and society (Armero, 2018). It is important for the companies to focus on operating in an ethical manner and to invest in CSR activities, which can help them create a positive impact on the society and environment. The businesses are investing better capital in their CSR activities as it helps them in creating a positive market image and also helps them in operating sustainably. It can be said that the case company should also focus on investing in the CSR activities, which can add value to the society and environment both.
Analysing the concept of corporate governance in business management
In the present business world, the concept of corporate governance had gained a lot of importance, and the businesses need to focus on this effectively. Corporate governance is referred to as the set of rules, laws and the regulations which governs the business and business operations (Maqbool and Zameer, 2018). It is important for all the employees of the company to work in accordance with corporate governance, which can help them in working in an effective manner for the company. The businesses need to create effective corporate governance for themselves and then work according to it only, but it is important for the company to focus on the interest of all the stakeholders while creating the corporate governance for the company.
Effective corporate governance can help the businesses in developing a positive work environment which focuses on develop trust, transparency and accountability among all the different stakeholders of the company. Along with this effective corporate governance is also important for the businesses as it helps them in having an effective organisational culture which promotes the success of the company by better management of the stakeholders. On the other hand, if the company does not have effective corporate governance than it will lead to the risk of issues related to the corporate governance and issue related to it affects the market position of the company (Wang and Sarkis, 2017). The cited company should focus on developing effective corporate governance for them while focusing on all the stakeholders of the company which can help them in operating in an effective manner and leading the firm towards success and development.
Impact of corporate governance on ethical business behaviour in business management
Effective corporate governance is also having a positive impact on organisational behaviour. If the businesses have better corporate governance, than it would help them in developing a better ethical culture in the company, which ensures that all the employees should work in an effective and appropriate manner. It can be said that if the businesses are having effective corporate governance in the organisation than this would help them in making the employees and the entire company work as per the rules and regulations which is having a positive impact on the work ethics and help the employees of the company is behaving in an ethical manner in the company (Bhagat and Bolton, 2019). Both the concepts of corporate governance and ethical behaviour in the organisation are equally important and are interconnected with each other so that businesses should focus on them which can help them in operating in an ethical manner and with effective corporate governance. The cited company should focus on the understanding that both the concepts are interconnected, and the company should focus on developing better-shared values and corporate governance and needs to ensure that the ethics and values should hold good in the organisation which is important for better performance of the company.
Business ethics and the corporate social responsibilities had gained a lot of importance for the businesses in the present business environment. The above-mentioned report had explained the important concepts associated with the business ethics and CSR activities of the businesses. The case of Caffe Terra is being explained in the report in which the company is looking forward to expanding itself from national level to the international level. The present study concludes that if the businesses are looking forward to expanding the business to international market than it is important for them to focus on knowledge management and fair judgement which are having a significant impact on all the business operations and also on the supply chain management of the company.
The report also concludes that it is important for the case company to implement the change in an effective manner and the company should focus on implementing an effective change management process which can help them in reducing the challenges of change. Along with this, the study also suggests that it is important for the cited company to focus on the concept of corporate social responsibility and corporate governance in an effective manner. It can be said that if the case company focuses on the above concepts in an effective manner that it will help them in going global effectively and leading the company towards success and development.
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