The Importance of Ethics and Values in Business Organizations

Section A Question one: Explain the importance of ethics and values in business sustainability? Introduction: Ethics is concerned with what is good for individuals and the society according to (BBC ethics 2014). Ethics in general builds a person’s character which is portrayed by his/her behaviour. Business ethics can be defined as a way of which people and institutions should behave in the world of commerce. Most businesses are profit driven and by examining constraints or profit for self-interest when the actions of individuals or firms affect others most according to (Chris MacDonald 2014). Business ethics can also be defined as a culture which is practised within a business which enables a business to make decisions and actions which†¦show more content†¦2009). Ethical system of an organisation is a set of moral principles and values. Values are what each business stands for and they guide employees to behave in an appropriate manner with regards to the business and how it operates (Nieuwenhuizen and Oosthuizen T.F.J. (ed), 2014). For example The Mine Health and Safety Act 1996 is an Act which creates systems, procedures and structures whereby all aspects of safety are covered to protect the mine workers due to high injury disease rates due to the working conditions in mines which workers are exposed to everyday. The Act aims to provide good health and safety practices and it also aims to reduce accidents and to countermand the apartheid policies that were previously enforced amongst workers which guides businesses to follow the positive ethical business cycle (Gabriel Eweje 2005). Whistle blowing is when an employee reports on any illegal, immoral or illegitimate practices of another employee in the work place (Nieuwenhuizen and Oosthuizen T.F.J. (ed) Whistle blowing with internal reporting channel is less threating than whistle blowing of the external channel. External channel may lead to public scrutiny or legal intervention and it may put the organisation’s name in jeopardy. Whistle blowing are often not welcome because if report of the whistle blower is not taken seriously and left hanging the whistle blower mayShow MoreRelatedEthical And Ethical Aspects Of Business Ethics1350 Words   |  6 PagesMany authors in business industry have provided different definitions for business ethics. Moreover, definition varies for different people and different organizations. In general, Business ethics:-- -is a set of moral values or applied ethics that’s drives the operation of business. It’s more than operating a business under existing laws. There is always a question of morality and this morality of values comes from values held by the society. But ethics for each company may have high standard toRead MoreTable of content 1. Introduction 2. Importance of values and ethics in the business †¢ Ethical1200 Words   |  5 PagesIntroduction 2. Importance of values and ethics in the business †¢ Ethical conducts in organisations 3. Importance of leadership in the success of business Introduction â€Å"Ethics can be defined as moral principles that govern or influence a person’s behaviour and values are the context in which an organisation or society’s norms are established and justified† (buzz text book).Ethics are the guidelines helping us tell the difference between the is wrong and right. Most people are encouraged by ethics to normallyRead MoreWhat Is Business Ethics?1294 Words   |  6 PagesMIS 6308 – Assignment: Business Ethics Essay (50 points) What is business ethics? Business ethics can be understood as codes that define the actions and behavior of the employees in an institution. Standards are set by every company to define what is accepted as ‘Right’ and each employee is expected to abide by these standards. For a business to run successfully it is important to abide by the set of standards that are defined. Companies around the world observe these ethical principles strictly;Read MoreImportance of Business Ethics988 Words   |  4 PagesTopics of Content Introduction............................................................................................................................1 Business Ethics.......................................................................................................................2 Disadvantages of Unethical Behavior....................................................................................2 Case Study.......................................................................Read MoreDefine Ethics and Social Responsibility and Explain Why They Share Common Characteristics in an Organisational Setting. Identify Recent Examples Where Ethical Practices or Social Responsibility Have Not Occurred and the Implications for Stakehold...1651 Words   |  7 Pagescompanies or organizations viewed ethics,social responsibility,business ethics only in terms of administrative compliance with legal standards and adherence to internal rules and regulations. Today the situation is different. Attention to them is on the rise across the world and many companies or organizations realize that in order to succeed, they must earn the respect and confidence of their customers. Like never before, corporatons are being asked, encouraged and prodded to improve their business practicesRead MoreEthical Climate in Organisation1646 Words   |  7 PagesIntroduction In modern business environment it is imperative to have an ethical climate. Traditional commerce is fundamentally based upon performance and profit. With the ever changing workforce, it is imperative that organisations open themselves up to reorganisation, including the application of ethical and moral decision-making, and incorporating interest of ethics in the corporate structure. According to Victor and Cullen (1988 cited by Cohen 1993, p.343) organisational norms and values are means toRead MoreEthical Ethics And Ethical Issues1180 Words   |  5 PagesEthical issues in organizations are inevitable and are always on the horizon. These ethical concerns can directly impact the overall health of an organization in both positive and negative aspects. In order to be prepared for the ethical issues that will arise and to create an organizational competitive advantage, an intentional focus and effective communication of the code of ethics must be incorporated as a part of strategic planning. Sherwin (1983) indicates the that the term ethics, â€Å"refers to aRead MoreEthics and Decision Making1334 Words   |  6 PagesCHAPTER I WHAT IS ETHICS? - Each society form a set of rules that establishes the boundaries of general accepted behavior. These rules are often expressed in statements about how people should behave, and they fit together to form the MORAL CODE by which a society lives. - The term MORALITY refers to a social conventions about right and wrong that are so widely shared that they become the basis for an established consensus. DEFINITION OF ETHICS: ETHICS – is a set of beliefs about right andRead MoreGood Leadership: A Comparison of Two Articles670 Words   |  3 Pagesimportant characteristic in todays society. Many value a good leader, yet a good leader is elusive. While some would point to the current president as the epitome of such an individual, many would disagree. Thus, one asks, repeatedly, what makes a good leader, and only receives mixed answers. But a good leader is someone who can implement a variety of policies while remaining true to the customer, or the citizen, and make profit for the business, or simply sound policies for a nation. The two articlesRead MoreA Brief Note On Ethics And Conduct And Behavior1089 Words   |  5 PagesEthics Research Report Student Name: Longfei Wang Student ID: 11529471 Executive Summary This report describe the two professional areas, they are Early Childhood and Public Relation (PR). In this two areas, this article illustrates the importance of three professional codes which are ethics, conduct and behavior. The report also reveal some ethical or unethical behaviors in the light of the two professional areas. Then the two professions will be compared in the codes of

Should Vending Machines Be Turned Off During The Day

Should Vending Machines be Turned off during the School Day? Many schools nowadays turn off their vending machines during the school day to prevent students from eating fattening foods. In California and Hawaii, state legislators are very close to passing a law that would ban any drinks excluding milk, water or juice from being sold in elementary schools, and reduce the hours older students can use the vending machines. Michelle Obama and the Obama Administration have asked Congress to improve childrens nutrition by getting rid of school vending machines that provide students with sugary snacks and drinks. The problem with this is school’s are making an extravagant amount of money off feeding their students with artificial flavoring and†¦show more content†¦If you don’t teach students responsibility for their own health and awareness, how are they supposed to grow up as proper adults? Our schooling system is very corrupt and wrong. Citation Page 1. Winter, Greg. States Try to Limit Sales of Junk Food In School Buildings. The New York Times. The New York Times, 09 Sept. 2001. Web. 03 Nov. 2013. 2. Huntington, Dale. Obama Wants School Vending Machine Changes. Msnbc.com. N.p., 2 Feb. 2010. Web. 03 Nov. 2013. 3. Gray, Brian. Iron County Today - Schools Should Voluntarily Do Right with Vending Machines. Iron County Today - Schools Should Voluntarily Do Right with Vending Machines. N.p., 20 May 2012. Web. 03 Nov. 2013. 4. Godelnik, Raz. New Standards for School Vending Machines Provide More Than Healthy Snacks. Triple Pundit RSS. N.p., 3 July 2013. Web. 03 Nov. 2013. 5. Fishbein, Rebecca. Obamas Kicking All The Junk Food Out Of School Vending Machines. Gothamist. N.p., 29 June 2013. Web. 03 Nov.Show MoreRelatedLiterature Review Write Up with Cover Page4074 Words   |  17 PagesVending Machine Food Environment Assessment Literature Review Erin Fitzharris University of Iowa-School of Public Health Susan Klein Iowa State University Extension Carol Voss Iowa Department of Public Health Fit for Life Program Summer 2008 1 The food environment has only recently been studied as an important contributor to the dietary decisions people make every day; decisions which ultimately impact both short- and long-term health outcomes. The built environment, or the surroundingsRead MoreEssay about vendo printing machine5491 Words   |  22 Pagesï » ¿Upgraded Vendo Printing Machine ________________ An Information Technology Project Proposal presented to Faculty of the College of Computer Studies Tarlac State University Tarlac City _______________ Clinton John D. Macapulay Wally G. Soriano Catherine R. Castillo Lady Lyn R. Cayabyab Jaime S. Santos John Kennedy A. Gamboa Micoh B. 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Currently there are over 172,000 employees of Starbucks, and the company’s 2007 revenue exceeded $9.4 billion. During this year S tarbucks will purchase more than 300 million pounds of beans from Latin America, Asia, and AfricaRead MoreStarbucks Market Conditions – Present and Future Essay5366 Words   |  22 Pagesfuture profits and growth. Starbucks has expanded rapidly over the years, opening a new store every workday during the 1990’s. The first Starbucks location outside of North America opened in Tokyo in 1996. In 2003, Starbucks completed the purchase of Seattle’s Best Coffee. Currently there are over 172,000 employees of Starbucks, and the company’s 2007 revenue exceeded $9.4 billion. 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The Case Of Shooting An Elephant By George Orwell

The Use of the Other to Define Oneself A large number of successful authors have one common trait in their writing: they create a powerful narrative or argument through the concept of an other, a person or group who opposes the authors view. To choose one side of a conflict is to give an indication of what the persons beliefs, motivation, and identity are. In the case of Shooting an Elephant by George Orwell, he establishes his beliefs with the actions of Burmans, which he portrays as the others. He states that, â€Å"It was a bit of fun to them†¦it made me vaguely uneasy. I had merely sent for the rifle to defend myself† (438). Orwells point is to make a sharp contrast between the narrator and the Burmans so that their values could be†¦show more content†¦For a person to be a stranger, it means that a person knows nothing about them to truly trust them. Using the word take also establishes how they were forced against their will to give their belongings. Chief S eattle is trying to make the point that the others are the type of people who do not care about their kind and have little morals. In fact, the use of putting the setting at night is also significant because it demonstrates how white people know that their actions are wrong but are still willing to follow them. By setting up the attributes of the people, he can promote that he does not have the same qualities. In addition, he also adds the idea of modesty in his identity through the description of the white man leaving at night to take the belongings of others. Nevertheless, booth followers and critics of the idea of the other in writing will probably argue that Chief Seattle could have gotten his point across by just talking about the damage that has occurred to the environment with no mention of a culprit. Yet, it would leave people with an unsatisfied conscious because people like to put the blame on one person or a group of people. If a person did not add another group or person that opposes the author, it would remove the authors credibility and give them an artificial identity. In another section of the letter to President Pierce, Chief Seattle startsShow MoreRelatedShooting An Elephant By George Orwell1246 Words   |  5 PagesSalma Kingu Professor: Michael English: 1301 Essay 2 Summer: 06/26/2017 â€Å"Shooting an Elephant† by George Orwell In the 1950, George Orwell was a police officer during the British Empire in lower Burma, India who was ill- educated and secretly hated his job due to the dirty works and evil of colonialism; George Orwell wrote the story about shooting an elephant. Shooting an Elephant is a story which describes how the British occupiers were badly treating the Burmese by killing and terrorizedRead MoreAnalysis Of George Orwells Shooting An Elephant1154 Words   |  5 Pagesauthority? Are we sheep’s who only do what we are told. Is that the same in Orwell’s case? John F Kennedy once said, â€Å"A man does what he must - in spite of personal consequences, in spite of obstacles and dangers and pressures - and that is the basis of all human morality.† Shooting an Elephant by George Orwell he touches base on morality which makes the reader question their beliefs. In Shooting an Elephant, George Orwell’s works as a sub-divisional police officer in the British colony of BurmaRead MoreGeorge Orwell s The Elephant1608 Words   |  7 Pagescontroversial topic, did George Orwell want to assassinate the elephant? George Orwell was a sub divisional police officer in Burma that acted under pressure. Despite several claims, George Orwell opposed imperialism and its rules, yet his actions have muddled several and has caused them to think otherwise. In the beginning of the story, Orwell is essentially harassed and laughed at by the Burmese because he is associated with the British. One day, he is made aware that an elephant has gone loose and hasRead More George Orwells Shooting an Elephant Essay783 Words   |  4 PagesGeorge Orwells Shooting an Elephant In Shooting an Elephant, George Orwell finds himself in a difficult situation involving an elephant. The fate of the elephant lies in his hands. Only he can make the final decision. In the end, due to Orwells decision, the elephant lay dying in a pool of blood. Orwell wins the sympathy of readers by expressing the pressure he feels as an Anglo-Indian in Burma, struggling with his morals, and showing a sense of compassion for the dying animal. Read MoreThe Evil Of Imperialism In George Orwells Shooting An Elephant1023 Words   |  5 PagesShooting An Elephant In George Orwell’s narrative, â€Å"Shooting An Elephant,† Orwell recreates his experience as a soldier trying to end imperialism in the country of Burma by shooting an elephant. George Orwell recreates this experience of imperialism being evil through the use of literary devices. Orwell opens his essay by reflecting upon the evil of British imperialism before shooting the elephant. Orwell’s hatred for imperialism is exemplified when he mentions â€Å"was hated by large numbers of peopleRead MoreShades of a White Man1206 Words   |  5 Pagesperson’s life. George Orwell was born into a culture of white men, a culture that believes in dominance and superiority, a culture that steps on whoever stands in its way. Imperialism was that culture; the culture that Orwell was influenced by, and suffered from. From my perspective, I believe that even though George Orwell claimed that he was against the imperialist, British culture; â€Å"I was all for the Burmese and against their oppressors, the British† (Orwell, Shooting an Elephant, par. 2), he wasRead MoreCritical Analysis Of Shooting An Elephant1165 Words   |  5 PagesIn George Orwell’s story ‘Shooting an Elephant’, insight is given into the life of an oppressor in the British Empire. Orwell, having undergone a significant personal experience, illustrates his experience of imperialism and the resounding effects is has on the ethical conduct and ideals of man, not only of the oppressed but also in regards of the oppressor. Orwell’s ‘Shooting an Elephant’ attempts to convey the sacrifice of one’s morality in service of imperialism. Through the spread of the BritishRead MoreOrwell and Langston - Shooting an Elephant and Salvation Essay612 Words   |  3 Pagessocieties approval. George Orwell in â€Å"Shooting an elephant† and Langston Hughes in â€Å"Salvation† deal with the issue of â€Å"fitting in† in very different ways. George Orwell describes to us in â€Å"Shooting an elephant† the struggle that his character faces when to win the mobs approval and respect when he shoots down an innocent animal and sacrifices what he believes to be right. Orwell is a police officer in Moulmein, during the period of the British occupation of Burma. An escaped elephant gives him the opportunityRead MoreRhetorical Analysis Of George Orwell s Shooting An Elephant 1272 Words   |  6 PagesRhetorical Analysis of George Orwell’s â€Å"Shooting an Elephant† George Orwell, a journalist and an author of 1903 through 1950, is not only the author of â€Å"Shooting an Elephant,† but surprisingly, he is also the narrator and the main character. Orwell’s narrative essay of 1936 takes place in squalid, British-occupied Moulmein, lower Burma. 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Study Of Marketing And Online Marketing - Myassignmenthelp.Com

Question: Discuss about the Study Of Marketing And Online Marketing. Answer: Business Introduction Superannuation funds are various financial plans developed by government or private entities for accumulation of funds and with intention to provide income after retirement (Smith, 2012). These funds are not mandatory and are promoted by the government with tax benefits. This report presents a marketing strategy and comparison of two financial companies to be analysed as superannuation funds. The funds chosen are AMP Superannuation Savings Trust and AustralianSuper. AMP Superannuation Savings Trust is a resident regulated fund. This fund is registered with Australian Prudential Regulation Authority (APRA) and has more than 2 million participants. The fund was formed on 1 July, 1998 and is following the regulations of Income tax authorities (AMP, 2017). AMP capital is the investment manager of fund. AustralianSuper is one of the largest pension and superannuation fund of Australia. The fund has more than 2.2 million members. The fund is run to generate profit for members and because of its size the cost of fund is very low. AustralianSuper is also registered with APRA and has multiple investment managers. (AustralianSuper, 2017). Business Overview AMP Superannuation Savings Trust is a public offer retail fund. The contributions to fund are received through AMP Life and AMP Capital. The fund is qualified for transfers and rollovers. The fund has 8 MySuper products and 290 investment options. MySuperstratergy product has 29% of its total assets. The fund has assets of around $55 billion. This fund invests global bonds, global shares, listed real estate, Australian shares and derivatives (Superguide, 2017). On the other hand AustralianSuper is an industry and public offer fund. This fund has 13 Mysuper products and 13 investment options. In this fund MySuper stratergy has 67% of the total assets. This fund has invested all over the globe with investments of about $120 billion. The investments include financial instruments as well real assets. Shares, airports and shopping centres are part of its portfolio (Superguide, 2017). Comparison Between Both the Companies AMP Superannuation Savings Trust is pension fund, run and promoted by AMP. The shares of AMP are listed on Australian stock exchange. It is financial services enterprise dealing in various products. The company deals in employee and personal plans. The fund believes in developing variety of investment options for different risk profile clients. The company also provides insurance linked plans with whole life or endowment option. AustralianSuper is a superannuation fund with offices all over Australia. It has two divisions. First one is an industry and personal division. Other one is retirement income division. The company believes in sustainable long term investment returns and reducing costs because of large fund size. Apart from managing superannuation fund, the organization deals in financial advice and providing insurance to members. For sustainable growth of organization, it launched social aware investment option for its members. Client Profile Target Group AMP Superannuation Savings Trust is a public fund. It can be offered to general public. Australian Superannuation Savings Trust has 38% female participants and 59% male members. Most of the participants are present in age group 35-44 years. Largest number funds have been too contributed by this group. Superannuation funds benefit by targeting young generation. So target group should be individuals between ages of 25-40 years. On the other hand AustralianSuper is a member only fund. Benefit of member only funds are manifold. It is benefitted by low fees, decisions are not affected by vested interests and profits are for members. It has 39% female members and 59% male members. In this fund most of the subscribers are present in age group of 25-34 years (Superguide, 2017). This fund too should have its target group as young generation between ages of 25-40 years. However both the funds should target all sections of the society. Market Segment Characteristics Affecting Market Segment Market segmentation consists of segregating total customer base of a business in smaller groups based on certain criteria (Sun, 2009). Criteria can be based on demographic, geographic or behavioural factors. Markets can be segmented for these two funds in an identical manner because both have customers of all ages, regions and behaviour biases. Hence various segments and characteristics affecting them are: Demographic Segmentation: Demographic factors play an important role in deciding market segment of these funds. Market segment can be formed by age, income, gender and family size (Gbadamosi, 2013). For these funds, market segments can be high income, young with high income and old couples. These segments are affected by different products offered by the company. As every segment has their unique need. Young are interested in risky and long term investments. Geographic Segmentation: Geography affects an individuals lifestyle. People living in urban centres have better life style and longevity in life. So they are interested in products which have whole life annuities. On the other hand, rural population lives a very hard and risky life. For such individuals pension plans along with insurance and low premium are right products. Behavioural Segmentation: Behavioural biases of an individual affect the choices which are made in selecting and purchasing different products (Solomon Lowrey, 2017). Insurance and pension are generally delayed investments. In this segment price conscious and unaware investors want low premium products. This segment is affected by psychological and social biases of individuals. Cost-Benefit Analysis The process of evaluating benefits and costs associated with a business strategy to analyse the effectiveness of the plan. It consists estimating the costs associated with the proposed strategic proposal and simultaneously calculating all benefits generated by the plan. Both direct and indirect costs as well as benefits should be included in the analysis (Campbell Brown, 2015) After conducting a cost-benefit analysis of marketing strategy of both the superannuation funds, it is concluded the benefits overweight costs in both the cases. However, marketing strategy of AustralianSuper is successful over the other company. Total additional benefits over cost in case of AMP Superannuation Savings Trust are $291960, whereas $40700 in case of AustralianSuper. Marketing Strategy Marketing strategy is a set of guidelines and processes that an organization follows for promotion and improving reach of its products (Ferrel Hartline, 2013). Marketing strategies are devised taking into consideration various stakeholders of an enterprise. Marketing Strategy of AMP Superannuation Savings Trust Like most of the superannuation funds, the organization is also using partners and influencers for product promotion. Indirectly, strategy also focuses on development of world class award winning products for customer retention and attraction. Fund has its focus on umbrella approach with aims holistic approach to promotions. This process starts with customer research, product development, advice and selling at end. Social and digital media is also a source of marketing for AMP. It is recommended that company develops a strategy for engaging third party individuals and organizations for spreading awareness and selling its products. Educational campaigns through television, events and street shows should be its focus. Marketing Strategy of AustralianSuper According to Homewood (2016), marketing strategy of AustralianSuper is targeted through digital media and focusing on millennial. Millennial are very excited about the superannuation products and do a considerable analysis of different product options. The company also gets a lot of queries from them. Digital media will provide an effective platform for targeting all sections of the society. Apart from this company is also using other sources of marketing such as engaging with partners and influencers. The partners and influencers help in promoting products by creating awareness and changing attitudes. Apart from these, it is recommended that the company uses traditional methods of marketing. It should organize workshops and street campaigns. Promotion through television should be encouraged. Company may also engage advisers, banks and other agents for sales promotion. Sample Tools Advertising Marketing tools and advertisements help organization target audiences according to their needs and help in effectively evaluating a campaign to analyse return on investment (Adler, 2010). AMP Superannuation Savings Trust In 2016, the company launched goal based operating system, which comprised of goal centre and a explorer. The system has article, videos and modules for educational purpose and marketing. Modules have option to narrate as well. This is helpful of old as well those who are visually impaired (Burchill, 2017). Digital media tools such as online mailers and podcasts are also being used by the organization. Advertisements on social media are also common. YouTube, LinkedIn and Twitter online marketing tools are also being used by the company. It is recommended that company also uses promotional hard copy material for product promotion. These will be for helpful older and non-tech-savvy individuals. These can be sent along with policy statements after taking customer approvals. AustralianSuper Since, at present company has its focus of digital media and millennial. It should focus on next-generation tools and advertising. Digital media tools include online advertisements, marketing through mobile, web-analytics and emails. Digital media and analytics are effective in targeting customers by evaluating their needs. Partners and influencers are using social media websites and tools for product promotion. They are particularly active on Twitter and YouTube. Apart from the current tools and advertisement methods, it should also use promotional items such as educational videos, product brochures and merchandise to improve brand value. Banners and newspapers advertisements should also be encouraged. Traditional tools and advertisement measures result in a lasting impression. Monitoring Process and Review Monitoring and review process of marketing strategy involves analysis of impact of a plan, quantitatively measuring various data and carrying out appropriate changes to existing plan in case pre-defined results are not achieved (Saunders, 2015). AMP Superannuation Savings Trust Ultimate review of marketing strategy and advertisements comes in the form of tracking of revenues and profits. For digital media marketing efforts, the process involves tracking web traffic and measuring views on online promotional videos. Increase in followers on social media and positive discussion on social is sign of impactful marketing. Customer feedbacks through surveys and discussions are also helpful in tracking product response. As can be seen from cost-benefit analysis (Table 1), increased revenues from marketing efforts exceed costs; therefore marketing efforts have been successful. In case marketing efforts do not give desired result, the fund should think of modifying existing tools and strategies. AustralianSuper Marketing efforts of the company have been fruitful since the revenues have comfortably exceeded the costs (Table 2). The company can review its existing procedures by evaluating number of queries received by phone and email. If a television marketing campaign has been launched, then after campaign sales and response can be measured. Monitoring also involves analysing by demographics and region. It can be used to target a particular age group, income-level or regional group according to their needs. Conclusion This report presents a comparison of two superannuation funds of Australia. Funds covered in this report are AMP Superannuation Savings Trust and AustralianSuper. In the initial portion, a business introduction and comparison of both the superannuation funds is given. A view of target group and client base has also been presented. Also covered in this report are market segments of the funds and their characteristics. Cost-Benefit technique has been applied to analyse marketing strategies and efforts of both the funds. The report also discusses current and proposed marketing strategies both funds. Digital media, social media and traditional marketing strategies have been discussed. Marketing tools and advertisement efforts have also been analysed. A review and monitoring process of both the companies is also discussed along results of cost-benefit analysis. After evaluating the results of cost-benefit analysis and strategies of the funds it is concluded that AustralianSuper is better performing than AMP Superannuation Savings Trust. References Adler, M. (2010). A study of marketing and online marketing tools which improve online success. Munich, Germany: GRIN Verlag. AMP. (2017). 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