The paper “ Business Ethics as an Aspect of Corporate Governance of Organizations Working in the Hospitality Branch" is a breathtaking example of an essay on business. The importance of business ethics is evident in all areas and business sector especially with different reforms and developments that have transformed the manner in which business works. This has made the organization give relevance and importance to corporate governance which will thereby ensure that all aspect associated with customers, employees, suppliers, government bodies, society and others associated with the business is looked at. This will ensure that the business remains ethical and the organization is able to provide the required dues to the people concerned.
The importance of business ethics further increases in the case of the hospitality sector as the main component here is services. Since organizations working in the hospitality sector looks towards differentiating themselves based on services it is important that they remain ethical and provide the customers what they have stated. This will help to build the required brand and create awareness through which the organizations will be able to act ethically.
This paper looks towards presenting the manner business, especially those working in the hospitality sector looks towards remaining ethical in their doings. While looking to present those different theories and examples have been included which will help to act in an ethical manner and ensure that the business is able to do the required justice to the different strategies that have been incorporated by them. Business ethics is an aspect of corporate governance that has gained prominence and looks towards ensuring that the customers, employees, shareholders, and society are being looked at (Silva, 2004, p.
1). This thereby looks towards looking into different aspects like accountability, communication, proper services, and diversity in their perspective of doing things so that the business is able to act in an ethical manner (Silva, 2004, p. 1). The importance of business ethics increases in the case of the hospitality sector as the organization has to look towards providing services and need to provide its customers with what has been stated in their services. This will require that the organization in the hospitality sector has to look towards acting in a fair manner and being ethical in all the work that has been carried out. A theory which looks towards providing directives on the manner in which an organization needs to act so that they remain ethical is the agency theory.
This theory requires that businesses especially those working in the hospitality or service sector look towards moving away from the perspective of profit and look towards customer satisfaction and acting in the fair interest of the society (Nicholson, 2008, p. 1). This will make the organization take the decision which will ensure that they remain fair and take decisions looking at the larger picture.
This will have the hospitality sector to ensure that the organization is able to provide the required service that they have promised to deliver. This can be seen in the case of McDonald's which while entering into India clearly acted fair. There were situations were different incidents were highlighted which showed that McDonald's uses animal fat especially cow fat and since it is against the custom of people in India the fast-food chain made the required changes and ensured that none of their products had animal fats especially cow fat and ensured that the products supplied were different from those in other areas (Enright & Subramanian, 2008, p.
148). This shows that the business looked towards acting fair and remained ethical in their business doings. This has thereby ensured that the business was able to carry out their operations in the most ethical manner and ensure that they remain fair.