Business Decisions and Management Assignment Sample

Table of Contents

Question 1.

Question 2.

Question 3.

Question 4.

Question 5.

Question 6.

Question 7.

Question 8.

Reference list

Management - Question 1

Definition of Teleology

• Teleology can be used in the reference of any purpose, goal, end or function.
• It is also described as a final causality

Teleological Illustrations of Business Decisions and Management

The teleological analogy can be used in order to explain the business ethical practices in the market place and the surrounding society (Fleischman et al. 2017).

• The strategic, operational levels and tactics of a business may hold different perception about the process through which the business ethics would be managed

Example:

Placing person A in the situation, where the individual is confronted with danger which is minefield. The challenge is to “crossing the minefield” without leaving chance of being exploded. In simpler term, it is navigating between the mines to reach the other side with safety. There will be no way around the minefield.

• Navigating through it has possible three teleological approaches.
• The person B represents the organization; the mine field represents the market field and the society surrounding the business. The behaviors and practices of the business ethics are considered here the challenge and the mines are considered as ethical dilemmas faced by the businesses. The organization’s responsibility in the context of business ethics and the navigating indicates toward the organizational faith (Wanuma & Wanyoike, 2018).
• The situation is the past experience of the business and crossing the field is the present of the organization and future is represented by other side.

Management - Question 2

CSR

• Corporate social responsibility is the model used by the organizations for self regulations.
• CSR helps a company to become a socially accountable business towards its stakeholders, public and itself.
• This also helps in becoming aware of how the company is placing impacts upon the different aspects of society that includes environmental, social and economic factors as well.

CSR Narrow View

• The narrow view depicts that the organizations are required to have motive of achieving the monetary gains for the self or the entity.
• This view does not focus on the investment of time and money on the welfare if the society.
• Scherer (2018) suggested that if the companies divert their direction towards the social cause it may negatively impact upon the efficiency and effectiveness of the workforce on the organization.

Yet most of the companies are observed to change their philosophies regarding perceiving their responsibilities.

• Here the “let the government do it” justification can be used where, believers of the CSR narrow view considers that taking care of the environments and carrying out social tasks are solely dependent on the government and the NGOs (Gurney, 2017).
• Organizations are supposed to have focused their view upon their vision towards earning profit.
• The misconception that the natural resources can be used by all entities as per their needs and lack of awareness regarding the long term impacts of holding of this attitude can be considered as the reason behind having the justification mentioned.
• For instance, the inability to understand that the educated society can bring future prosperity of a business through qualified workforce recruitment is sometimes ignored by the organizations.

Management - Question 3

Due Care Approach

• It is perception that the business owners or manufacturers are more in an advantageous position; therefore the customers must rely on the business for their safety purpose.
• Simply, customers are required to rely on the business as they are more careful and equipped with the ability to provide safety (Darwish & Abdeldayem Marwan, 2019).
• This view considers that is a duty of the organization to carefully handle the customer safety issues
• In spite of fulfilling the customer’s expectations the offered product must not harm the customers.

Duties:

• Researching the risks associated with the products
• Minimizing risks through redesigning
• Strict quality control
• Providing safety instructions for use in marketing

Social cost approach

• This approach mainly focuses on the manufacturer’s duties to their customers.
• Focus is more on paying cost of social harm
• Manufacturers are to pay the cost of the injuries resulted by defective products.
• Even though all the due care are taken under consideration in designing, developing, packaging, marketing and delivering the products manufacturers are to pay the cost of their harm of customers
• The external cost of is internalized with the cost of introduce the product in the market

For instance, as per the views of due care approach, before introducing a product and organizations responsibility is to minimize every possibilities of harm through the activities of designing, developing, marketing etc. on the other hand social cost approach guides that in spite of having minimizing risk issues social harm may cost the organization.

Management - Question 4

Define ethical leadership

• Ethical leadership is directed by the business’s ethical values and beliefs regarding the rights and respect towards all the members.
• Through Ethical leadership high level of truthfulness is promoted that stimulates a sense of trustworthiness (Bedi, Alpaslan & Green, 2016).
• Subordinates are encouraged for working according to the vision of the organization.

Personal morality and leader morality in ethical leadership

• Person values of being free from biasness and not working for personal interests are aligned with the leader’s morality where procedural justice is maintained by the leaders to protect the rights and interests of the subordinates.
• One of the principles of moral leadership is speaking and acting truthfully. This is aligned with the person’s moral characteristics such as being honest and congruent may result in ethical leadership at the end (Babalola et al. 2019).
• Being prosocial by nature that is a personal characteristic of a person that may be aligned with the leader morality serving interests of others rather than focusing on the just the personal interests. These can develop an ethical leadership.

For instance a person that is characterized by honesty and truthfulness may develop a trustworthy and ethical leadership as leaders will be able to maintain transparency among all the members.

Management - Question 5

• In philosophical view virtue theories of ethics depicts that it is assumed that the virtue of ethics is achieved through the practices.
• A individual needs to constantly practice bravery, honesty, generosity and others can develop as a moral character.

Example:

Kelly is an accountant manager and the virtue of this manager is compassion. She helps the subordinates on a regular basis and can reach to any solution to that will get the projects done. As per the views of Bavik et al. (2018), individuals that have a standard set of moral rules and personal virtue will implement those in their lives as well as in their jobs every day. Consequentialism can be implemented in this context. It can be stated that the ethics of care focuses on the personal relationships. The moral decisions should reflect the efforts given to preserve relationships.

• A product that is likely to harm a customer may indicate towards the consequence of destruction of the personal relationship with the customers. Therefore, the care ethics are implemented where the businesses are to manage their own ethical behaviors to minimize the product risks or making the customers aware of the potential harm.
• Here, Kelly’s ethics of care is in virtue of compassion through which the strategies for supporting customers in ethical ways and with compassion will be the success criteria.

Management - Question 6

• Corporate social responsibility regulates the business model for adopting the efforts to reduce with the environmental and social impact of the business.
• CSR helps a company responsively act upon the business issues and protecting the interests of its employees, stakeholders and the customers.
• Awareness about the business’s impact upon the society and the environment is another importance factor of CSR.

CSR narrow view

• CSR narrow view depicts that whatever the impacts business may have on the environment and the society, the aim of a business is care for and put efforts for earning profit.
• This view of CSR gives less importance to investment of time and money on social causes (Thien, 2016).
• It is also believed that if the organization is focusing more on the social tasks, it may reduce the organizational efficiency and the productivity. Thus, leading to a reduced profit margin.
• This view does not acknowledge the shared responsibility to protect the environment.

The invisible hand justification

• This argument states that if every individual of the society act towards their personal economic interests in a free market economy, this may lead to development and production of general good (Brady, 2020).
• CSR responsibility to innovate products that are improved in quality and functioning that contributes to the wellbeing of the people of the society is not considered as important.
• Striving for own economic interest driven by an unobservable market force will help in improving management of demand and supply of goods

For instance, a company may develop and produce only those products that are profitable though it is not upgraded or modernized according to the contemporary customers’ needs. This will provide profitability to the organization though the customers will be abandoned from using an innovative and upgraded version of the product.

Management - Question 7

Consumer contract approach

• Under this approach of a business, a legally binding agreement between the customers and the business exists that is ground rule for maintaining customer safety.
• Contracts might be verbal in nature or written
• There is also an existence of silent agreement or contract (Faber, & Martinson, 2019).

For instance, when a customer lift up any product and pays for the same in market through using self service check out, no conversation between buyer and the seller is established, yet a contract is there; that is providing safe and quality products to the customers.

Market approach

• The supporter of this approach believes that safety is a basic requirement that is not required to be mandated by the regulatory body of the nation.
• Safety is required to be provided by the sellers to the customers
• Includes obligation for advertising in an appropriate manner to disclose all the materials and the product’s potential ability to harm of damage
• The materials used in making of the product are to be disclosed by the seller in the advertisement.

For instance, unlike the market approach, the consumer contract approach ensures that businesses are automatically responsible for providing safe and quality food to the customers. However, in the market approach the potential harm of the food is to be promoted in advertisements.

Management - Question 8

• The ethical culture of a business demonstrates the process through which an organization teaches the extent to which the business regards the values.
• Businesses that are the bearer of ethical culture helps the employee in understanding, if the ethics matters in the business
• It clearly demonstrates to its employees that how the result would be for maintaining the ethical regulations of business (Stöber, Kotzian & Weißenberger, 2019)
• Clear monitoring approach is implemented to observe if the employees are following the business terms.

Contributing to ethical culture

• Contributing to the ethical culture is demonstrated through honesty. For instance, a transparency in the recruitment process and providing importance to talent over religious or racial characteristics is a way to contribute to ethical culture
• Businesses demonstrate reasonable accountability for their actions. For instance, implementing CSR strategies to all the aspects of development.
• Another example through which businesses can contribute to ethical culture is maintaining transparency in the operational procedure; that is making it clear for the employees to which direction they are required to move.

Reference List for Management

Babalola, M. T., Stouten, J., Camps, J., & Euwema, M. (2019). When do ethical leaders become less effective? The moderating role of perceived leader ethical conviction on employee discretionary reactions to ethical leadership. Journal of Business Ethics, 154(1), 85-102.

Bavik, Y. L., Tang, P. M., Shao, R., & Lam, L. W. (2018). Ethical leadership and employee knowledge sharing: Exploring dual-mediation paths. The Leadership Quarterly, 29(2), 322-332.

Bedi, A., Alpaslan, C. M., & Green, S. (2016). A meta-analytic review of ethical leadership outcomes and moderators. Journal of Business Ethics, 139(3), 517-536.

Brady, M. E. (2020). Comparing Orthodox (NG Mankiw) and Heterodox (M. Zafirovski) Economist Views of Adam Smith, the Invisible Hand of the Market, and Laissez Faire: Both views completely overlook the very severe detrimental impacts on the macro economy created by Smith’s Upper Income Class Prodigals, Imprudent Risk Takers, and Projectors. Imprudent Risk Takers, and Projectors (February 23, 2020).

Darwish, S., & Abdeldayem Marwan, M. (2019). Risk Management And Business Ethics: Relations And Impacts In The GCC. International Journal of Civil Engineering and Technology, 10(10), 489-504.

Faber, W., & Martinson, C. (2019). Can Ownership Limit the Effectiveness of EU Consumer Contract Law Directives?. Austrian Law Journal, (1), 85-123.

Fleischman, G. M., Johnson, E. N., Walker, K. B., & Valentine, S. R. (2017). Ethics versus outcomes: Managerial responses to incentive-driven and goal-induced employee behavior. Journal of Business Ethics, 1-17.

Gurney, M. (2017). 'The great moral challenge of our generation': the language, discourse and politics of the climate change debate in Australia 2007-2017.

Scherer, A. G. (2018). Theory assessment and agenda setting in political CSR: A critical theory perspective. International journal of management reviews, 20(2), 387-410.

Stöber, T., Kotzian, P., & Weißenberger, B. E. (2019). Culture follows design: Code design as an antecedent of the ethical culture. Business Ethics: A European Review, 28(1), 112-128.

Thien, G. T. (2016). CSR and indirect impacts of core business products/services of financial services institutions. International Journal of Corporate Strategy and Social Responsibility, 1(1), 86-100.

Wanuma, J., & Wanyoike, R. (2018). Organizational change and programme delivery at United Nations Children’s Fund, Kenya. International Academic Journal of Human Resource and Business Administration, 3(4), 35-53.

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