Questions Essay Example | Topics and Well Written Essays - 1250 words

Questions - Essay Example Figure: Ethical principles involved in stakeholder decisions Source: Freeman et al., 2007, Pp. 88 The management thus, need to ensure that their corporate social responsibilities are well charted out since such practices can have serious consequences on the brand name and credibility of the company, thus limiting its ability to create value for the stakeholders. 2. The term Corporate culture can be defined as â€Å"a set of values, beliefs, goals, norms and ways of solving problems shared by members (employees) of an organization† (Ferrell et al., 2009). It reflects the shared vision, values as well as expectations of the founder of the organization as well as that of the management. The manner in which the employees behave; the policies adopted by the management, and the decisions made reflect the corporate culture of the organization. It plays a crucial role in influencing ethical decision making, for instance, if the corporate culture of the firm vehemently supports unethic al behavior the decision making is bound to support and encourage similar practices. The persistent application of such negative / unethical practices is hence, directly associated with the corporate culture of such organizations. ... The company came under a lot of flak for its unethical practices of hiring illegal immigrants and violation of human rights (Greenhouse, 2003). The corporate culture of the company entailed provision of low priced products for its customers, the pursuit of which lead to such unethical decision making by the management. The firm hired, illegal migrants working on meager remunerations, to lower the cost and hence maximize profits. Although the core values of the company did not endorse similar views, the corporate culture however, did encourage the implementation of unethical means to achieve their desired goals. While McDonalds on the other hand, reflected a corporate culture which endorsed ethically right practices, which is reflected in its decision making. This is mainly the reason why, the organization was acknowledged as one of the World's most ethical companies during the year 2008 (McDonalds, 2008). The accolades received by the food giant, reflects its corporate culture, which encourages provision of good quality products and services, cleanliness and good values; thus ultimately resulting in better decision making on the part of the management. 3. The availability of term papers and other research materials online is a fact, and can be regarded as a direct outcome of the rapidly rising use and reach of technology. Websites offering term papers in exchange for money has become a highly lucrative commercial activity in recent times. However, such a practice cannot be termed as unethical per se, reason being, it does not in any way, violate the laws of any nation or harm the society in general and hence does not fall under the category of â€Å"unethical business practice†. According to Painter-Morland & Werhane (2008)