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Ethical virtue in business
Business ethics-chapter 5
Ethical virtue in business
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More handpicked essays just for you.
Ethical virtue in business
Business ethics-chapter 5
Ethical virtue in business
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Therefore, businesses should appreciate both customers and employees to guarantee longevity and
In contrast, Google is known to treat its employees very well. With excellent incentive packages and the right leadership in place. More importantly, Google places emphasis on customers’ satisfaction as well. Positive employees not only have positive behaviors they also have organizational commitment (Colquitt, LePine & Wesson, 2017). Consumers see employee commitment to the organization is
The client feel appreciated and constantly awed in the event that they get the most excellent service and whole management respect customers need. The impacts of consumer loyalty on client maintenance bring into presence to be a vital and positive. In particular, consumer loyalty influences the aims to keep re-customers. Consumer needs is basic to the administration of the food industry, which is typically the reason should be a particular notice rehash deals, client dedication and positive unfounded information. More satisfied clients mean long term customers.
According to Brooks (2015), when employees are fully satisfied, they commit their efforts towards attaining the set goals and objectives. They also see the reason of being associated with the company, hence reducing employee turnover rates. The other strength that the company has is better reputation. Based on the case study, close to 90 percent of employees from the survey indicated that the employees were willing to remain in this company because of its positive reputation. One of the internal weakness identified is a challenge to find and retain employees who can deliver positive results to the shareholders.
Costco has built a reputation of being a caring corporation1 with a low cost structure in the discount services sector. Their founder, Jim Sinegal, believed in building a business on strong ethics while offering a wide selection and great value. Costco’s vision is expressed in its code of ethics which contains five key tenets by which the company operates: Obey the law, take care of our members, take care of our employees, respect our suppliers & reward our shareholders.2 With this vision Costco has built the third largest retailor in the United States. By looking closely at the code of ethics it becomes possible to see it has built in strengths and weaknesses.
When employees see they are valuable to the company and they are secure it gives them confidence and in return they give their loyalty to the
The ethical success of Whole Foods Market and The Hilton Hotel was rooted from their similar contributions to the community and environment. Whole Foods Market is one of the most successful companies in the food industry, that is well known for their contributions to society. Furthermore, The Hilton Hotel is a worldwide company in the hospitality industry that is complemented on their contributions globally. In addition to being recognized for their corporate social responsibility. However these companies in different industries have many contributions in common, for ethical success beyond what's mentioned below.
These tales and accompaniment lessons were very relevant in the time of their conception, and to this day remain relevant albeit odd in their delivery to this day. While we as a society have experienced radical change, our core values have not. Loyalty is very important in the corporate culture of today. Exhibiting loyalty in a company can help you to find yourself moving
My organization is Wal-mart supercenter a major retail chain that has stores across the globe and services millions of customers every day. Where I have work for over a decade and after doing the cultural ethic audit, which have resulted in nine yes and fifteen no to the audits questions. Though, this organization has a clear ethical guidelines and policies dealing with employees, customers and managers there seems to be clear misunderstanding and signals what constitutes appropriate corporate ethical culture. As a result, my store’s ethical culture is in direct conflict with corporate ethical culture despite training videos and publications about Wal-mart’s ethical cultural.
Their desire is to earn profit, but not at the expense of their employees, environment, customers, or the law. This is what makes the company’s business plan desirable. Not only is the company extremely profitable, but the model is built to last. The lack of turnover reduces the company’s expenditure exponentially. When a company treats its employees well, they want to remain at said company.
Each of us has important responsibilities to our customers. While some of us are closer to customers than others, we all should think in terms of how our customers might feel about how we conduct business and we should act accordingly (Code of Business Conduct, n.d.). Customers depend on us to be true to our word. Nothing undermines our reputation faster than misrepresenting ourselves, or engaging in manipulation, concealment, abuse of privileged
This provides an atmosphere where people feel good about their working relationships as they are treated like family members. Customers are treated well and employees value and learn from the interactions and service orientation. On the one hand, if employees prioritize other values, they may express job dissatisfaction and eventually resign from the company. These sources of dissatisfaction were consistently mentioned to be “few advancement opportunities” (full-time employee, working more than a year, 2015), “hate being used” (part-time employee, working more than one year, 2015), and “fairly low wage and limited flexibility” (full-time employee, working more than one year, 2015).
The enterprise’s competitive advantage is their excellent customer service which requires “highly motivated staff” in order all of tasks required to provide the service with high quality. The enterprise has its own culture which
The incident escalated on Twitter when a consumer tweeted a picture of pre-peeled oranges wrapped in plastic sold at Whole Foods, sarcastically criticizing the supermarket for wasting the plastic on the oranges that mother nature couldn’t “find a way to cover” otherwise, highlighting and condemning how a business can negatively influence society by deteriorating the environment. Although Whole Foods Market pulled the product down after apologizing and explaining that it was just an experiment with a seasonal product as “customers love the convenience that their cut product offers”, it didn’t stop a Twitter debate from happening, showcasing how society can positively influence a businesses’ behavior. Some people condemned it was unethical of
Employee loyalty Employee loyalty refers to the psychological attachment of employees to their employer. It is the extent to which employees identify themselves with the organization’s work ethics, objectives of the organization and contribute to the corporate performance. Employee loyalty is visible from the feelings, attitudes, positive behaviour and actions of employees. These loyal employees always prefer to choose the organizations interests and are willing to make personal sacrifices to a certain extent. 1.2 .Supervisor