The emergence of most of the capitalist view on business has taken us much far from the reality of win-win operation in daily business undertakings. It is a sole responsibility of the top leadership in a large organization to reach a balance between profits and stakeholder concerns.
Customers act as an imperative part of the stakeholder community that a business must take care of to realize balanced business (Kouzes & Posner 2016). Successful companies ensure long-lasting relationships with their customers which do not leave out selling and marketing strategies. The leaders must ensure that their marketing methods and the quality of goods are not manipulative to the customers. The pricing of the products must be kept in proportion to the quality. Such practices helps …show more content…
It seems like the foundation of ethical knowledge, but the irresponsible behavior is so common that the obvious must be stated. Driven by selfish motives, greed can cause leaders to lose perspective and rationalize unethical behaviors. This ethical recklessness is beneficial to others harms, on the other hand, negative information to the offenders is that many are aware of them. Corruption is the most challenging issue in today 's world, and every state or organization is in the fight against this mess. Recently, the Institute of Business Ethics ' latest Briefing, Concerns and Ethical Lapses, 2010 & 2011 gives a brief overview of significant ethical concerns and lapses in 2010 and 2011, as indicated in the IBE 's weekly media monitoring of business ethics-related stories that were featured in the UK and international quality news media. This step exposes both companies and directors to high chances of going through disastrous financial and reputational consequences if better preventive measures are not taken against bribery and corruption. Corruption crowns it all: transparency, fairness, and competition (Lewis & Karl
Customers act as an imperative part of the stakeholder community that a business must take care of to realize balanced business (Kouzes & Posner 2016). Successful companies ensure long-lasting relationships with their customers which do not leave out selling and marketing strategies. The leaders must ensure that their marketing methods and the quality of goods are not manipulative to the customers. The pricing of the products must be kept in proportion to the quality. Such practices helps …show more content…
It seems like the foundation of ethical knowledge, but the irresponsible behavior is so common that the obvious must be stated. Driven by selfish motives, greed can cause leaders to lose perspective and rationalize unethical behaviors. This ethical recklessness is beneficial to others harms, on the other hand, negative information to the offenders is that many are aware of them. Corruption is the most challenging issue in today 's world, and every state or organization is in the fight against this mess. Recently, the Institute of Business Ethics ' latest Briefing, Concerns and Ethical Lapses, 2010 & 2011 gives a brief overview of significant ethical concerns and lapses in 2010 and 2011, as indicated in the IBE 's weekly media monitoring of business ethics-related stories that were featured in the UK and international quality news media. This step exposes both companies and directors to high chances of going through disastrous financial and reputational consequences if better preventive measures are not taken against bribery and corruption. Corruption crowns it all: transparency, fairness, and competition (Lewis & Karl