The paper 'Companion to Business Ethics' is a perfect example of a Business Assignment. Business environments randomly change in order to fit in the new world order. As the environment metamorphoses, there are fundamental contemporary business issues that arise (Hinman, 1999). Among contemporary business issues that arise is the creation and implementation of policies on sustainable business morals and ethics (Hasnas, 2005). Moral values and ethics form the core base for political, social, legal, technological, environmental, and economic settings in society (Perla, 2004). This report shall critically evaluate what companies generally hope to achieve through the adoption of an ethics policy, identify the main ethical issues facing members of Asdas’ staff negotiating with suppliers, and examine the Asda Ethics Policy. The report’ s objective is to evaluate whether the ethical trading initiative is likely to influence Asda’ s staff in negotiating and balancing the interests of suppliers and customers.
Moreover, the report will seek to evaluate how the ethical trading initiative seeks to enforce its provisions, explain how the aims of the ethical trading initiative are designed to influence Asda in her dealings with suppliers in Bangladesh.
This report aims to determine whether the ethical trading initiative has any real influence on the living and working conditions of the employees of suppliers in Bangladesh. What companies hope to achieve through the adoption of an ethics policy Although organizations seek to increase their profitability, increase their market share and minimize costs, it goes without saying that it is imperative for such organizations to ensure that it follows stipulated ethical standards (Blackburn, 2001). Companies can integrate ethical standards in their decision-making processes, production, distribution, marketing, promotions, and advertising and during service and product delivery.
Companies that present themselves as ethical more often than not want to win the approval of their consumers and attract potential markets. Consumers in the recent past have opted to buy and consume products and services from companies that have a reputation for being ethical (Perla, 2004). Ethical companies ensure that they do not discriminate in their operations. For example, they repute themselves as an equal opportunity employer, by giving every individual equal opportunity. They do this without discriminating against anyone based on their gender, sexual orientation, religion, race, color, status, health, disability, nationality, and ethnicity (Blackburn, 2001.
Companies that implement ethical policies seek to offer social equality and social justice, thus upholding the fundamental rights of their employees. When companies ensure that there is no forced labor, child labor, there is conducive working environments for workers and ensure workers receive wages relative to labor put in, they appeal to the markets. This leads to consumers becoming brand loyal thus strengthening brand name and quality. Ethical companies realize increased demand for her products and services and they do receive a competitive edge against companies that do not comply with ethical standards (Perla, 2004). Major ethical challenges facing members of Asda’ s staff negotiating with suppliers Excessive working hours and unpaid for overtimes Asda’ s staff negotiating with suppliers to supply them with products and services for their chain stores are finding it hard to do business since the company has not been able to comply with stipulated ethical standards and initial agreements it had entered.
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