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Business Ethics: Ethical Issues, Common Business Objective And Whistle Blowing
Question: 1
The introduction:
Ethical issues:
Ethical issues in business are a situation where a moral conflict arises and must be addressed. In other words, it is an occasion where a moral standard is questioned. Ethical issues occur when a given dec you obtain or create in connection with your activities for ICICI Group, in accordance with the applicable law. Your obligation to protect ICICI Group’s proprietary and confidential information continues even after you leave the Group, and you must return all proprietary information in your possession upon leaving ICICI Group.
- Proprietary and confidential information include any system, information or process (sensitive in nature) that gives ICICI Group an opportunity to obtain an advantage over competitors; nonpublic information about ICICI Group businesses, its customers and its employees, any other nonpublic information received.
- Proprietary and confidential information about ICICI Group, a customer, supplier or distributor, should not be disclosed (even with best of intentions) to anyone (including other employees) not authorized to receive it or has no need to know the information, unless such disclosure is authorized by the customer or is required by law, appropriate legal process or appropriate internal authorities.
- Intellectual property of ICICI Group such as trade secrets, patents, trademarks and copyrights, as well as business, research and new product plans, objectives and strategies, records, databases, salary and benefits data, employee medical information, customer, employee and suppliers lists and any unpublished financial or pricing information are some examples of proprietary and confidential information that need to be protected.
- Unauthorized use or distribution of proprietary information violates the internal policies and could be illegal. Such use or distribution could result in negative consequences for both ICICI Group and the individuals involved, including potential legal and disciplinary actions.
- Acts of ignorance that could lead to leakage of such proprietary information, especially through electronic means – like e-mails, web uploads, removable media (e.g. CD/DVD/pen drive) etc., may lead to investigation and probe against the employees.
The conclusion:
ICICI Group is committed to adoption of fair employment practices. It ensures diversity of workplace through efforts to recruit, develop and retain the most talented people from a diverse candidate pool. It upholds the principle that advancement is based on talent and performance and there is a commitment to equal opportunity. ICICI Group is committed to prohibition of harassment and intimidation of employees in the workplace. ICICI Group discourages conduct that implies granting or withholding favours or opportunities as a basis for decisions affecting an individual, in return for that individual’s compliance. Such action is an easier form of harassment to identify because it takes the form of either a threat or a promise, whether explicit or implied.
ICICI Group has a Sexual Harassment Policy that prohibits unwelcome advances, requests for sexual favours, or other verbal or physical conduct where such conduct has the purpose or effect of unreasonably interfering with an individual’s work performance or creating an intimidating, hostile or offensive working environment.
ICICI Group considers safety of employees as the primary concern. ICICI Group is committed to safety of employees and expects its businesses and employees to comply fully with appropriate laws and internal regulations
Question: 2
The introduction:
Common business objective:
Business objectives are the specific and measurable results companies hope to maintain as their organization grows. Entrepreneurs and business leaders must track performance in every part of their business to make sure they’re moving in the right direction.
Business objectives act as a compass for the modern company, dictating how the organization should allocate strengths, weaknesses and opportunities that may be available. Most of the time, objectives remain the same until the company’s circumstances change.
Examples of popular business objectives include:
- Revenue objectives: Maintaining consistent profitability is essential for any business. Companies cannot be profitable without consistent profit. Measuring revenue is a great way to track the sustainability of a firm.
- Operational objectives: Operational objectives include making sure that the logistical elements of your business are up to scratch. For instance, it might mean ensuring your supplies will arrive from a manufacturer at the same time each month. These objectives keep the company running smoothly.
- Productivity and performance: Employees are the lifeblood of a business. Making sure that employees remain productive drives revenue and improves customer satisfaction. Measuring employee satisfaction and setting goals for each team ensures efficiency and productivity.
- Customer satisfaction: The customer is always a top priority in any business. Some organizations regularly survey their clients to ensure that they’re making the right impression and driving loyalty.
Concepts and application:
All internal departments worked together to overcome the allegation and re- launch the same product in a way that it would earn the trust of its key consumers and stakeholders:
In the last three decades Maggi has grown drastically because it did not have any serious competition. Maggi has grown exponentially to become a generic brand, and has single-handedly taken the instant noodles category from being almost non-existent to a Rs. 1,200 crore one, of which it currently has, as per industry estimates, a 70% share, approximately. Initially Maggi only had to face competition from the Japan based Nissin
Group’s ‘Top Ramen’, and the Nepal based CG Foods ‘Wai-Wai’ Noodles. Wai-Wai, till recently, was restricted to the eastern market of West Bengal and Sikkim, where it controlled 70% of the market. Its strategy was to first build-up the distribution network, which it successfully did, the brand was available on the shelves of super stores, as much as in the local Kirana stores.
- Innovative Promotion Techniques Creative methods of promotion should be employed in order to attract the attention of the public. Promotion should be done at public places, games should be organised, prizes should be given out, road shows should be done, mascots should be used, etc. Doing this will help Maggi to create a new image in the mind of the public.
- New Packaging As Maggi is coming back into the market, it should come back with a change. It should change the packing design, so that the people also think that it is something different. New design will also lead to creation of brand and will have a positive psychological impact on the public. Public would always want something new or some variation in the product which it is using.
- Campaign Maggi should use this issue as an opportunity and start a campaign with the title ‘Maggi is Back, Back with a Bang’. This would help them gain the popularity and would help in regaining the lost image among the customers. A campaign for positive publicity is required to counter the negative publicity campaign which has happened in the past. However, the campaign will not be able to show immediate results but would take time.
- File a Case against the FSSAI Nestle should file a case against Food Safety and Standards Authority of India (FSSAI) as they have wrongly frame and were pulled to the court. They should also claim for damage of their brand name in the market. It is also said that Baba Ramdev is behind the Maggi ban. As he has close links with BJP, he has played the role of a catalyst, so that Maggi could be banned, for some reason or the other, and during this course of action he could introduce his noodles, which is called ‘Atta Noodles’. After it launch, it is also in news for the wrong reasons.
- Corporate Social Responsibility Brand image is built when the customers and public have a good and positive opinion about the brand and company. Nestle should initiate certain activities relating to social responsibility under the banner of Maggi. This would ultimately help the company to come in contact with the general public and would help in developing a positive image about the brand. The CSR campaign would not should immediate results, but would gradually add value to the brand and company as a whole. However the objective of Corporate Social Responsibility is not to build brand it would be part and parcel of the activity.
The conclusion:
Maggi has become the most relevant, trusted and valuable food brand in India. It has understood the changing lifestyles of generations, provided products that the family enjoys and constantly innovated products that add value. Maggi the hot favourite among all the children in the country, noodles have come a long way since their introduction in 1983. It was considered as snacks in many households and a basic diet in many other homes. As people became busier and busier day by day, packaged and readyto-eat foods also began to gain quite a formidable share in the Indian food industry. It is because of Maggi that instant noodles have become a part of the food habit of Indian homes. Maggi has moved from being a 5 pm snack, to being a part of breakfast, lunch, and dinner, of the average Indian household. But in the recent past, the ban on Maggi has created a negative impact of Nestle and has created waves in the fast food industry. The case study is an effort to explore the various issues, possibilities and opportunities for Maggi.
Question: 3(a)
The introduction:
Whistleblower:
Whistle blowing refers to the act of organisation members, either former or current, disclosing information on illegal and unethical practices within the organisation to parties internal or external to the organisation, who can take action. It is becoming increasingly common as more and more employees speak out about their ethical concerns. It cannot be denied that whistleblowing is accompanied by a range of problems, for both the whistle-blower and the organisation. However, it can be argued that whistleblowing is an important and valid method of endeavouring to control possible unethical behaviour by organisations, as well as helping to establish a level of social responsibility. For these reasons, it is important for society to maintain a level of support and encouragement towards whistle-blowers, so that their often valuable contribution towards eliminating corporate wrongdoings can continue.
Concepts and application:
The ethical reason/s for becoming a whistle blower:
A whistle blower once testified in a California court about how his boss had regularly ordered him to discard some of the company’s toxic waste into a local storm drain rather than dispose of it properly. Why, the judge wanted to know, had the man finally decided to step forward after having participated in this illegal dumping for years. “Well,” the man explained, “I was fishing with my grandson, and it suddenly occurred to me that the waste I was dumping was going to pollute the water so that he might never be able to go fishing with his grandson.”
Whistle blowing has to do with ethics because it represents a person’s understanding, at a deep level, that an action his or her organization is taking is harmful—that it
interferes with people’s rights or is unfair or detracts from the common good. Whistle blowing also calls upon the virtues, especially courage, as standing up for principles can be a punishing experience. Even though laws are supposed to protect whistle blowers from retaliation, people who feel threatened by the revelations can ostracize the whistle blower, marginalizing or even forcing him or her out of public office. On the other hand, there have been occasions when the role of whistle blower has actually catapulted people into higher office and has earned the respect of constituents.
The conclusion:
NO, as an employee if I become a whistle blower, Then I am not being disloyal towards my employer because any potential whistle blower must realise that a well thought-out approach is both essential and practical. Firstly, be positive the situation is one that warrants whistle blowing. Secondly, carefully examine the motives behind the whistleblowing in order to ensure that they are genuine and can serve the public interest. Next, verify and document all information, as this will help to add further credence and strength to disclosures (CJC 1999, p. 13). Fourth, determine to whom the wrongdoing should be reported, and if the internal or external route is best. The allegations should then be stated in a clear, concise and objective manner. Lastly, ensure that all appropriate guidelines have been followed in reporting the wrongdoing.
Question: 3(b)
The introduction:
Business ethics:
Business ethics is the study of appropriate business policies and practices regarding potentially controversial subjects including corporate governance, insider trading, bribery, discrimination, corporate social responsibility, and fiduciary responsibilities. The law often guides business ethics, but at other times business ethics provide a basic guideline that businesses can choose to follow to gain public approval.
- Business ethics refers to implementing appropriate business policies and practices with regard to arguably controversial subjects.
- Some issues that come up in a discussion of ethics include corporate governance, insider trading, bribery, discrimination, social responsibility, and fiduciary responsibilities.
Concepts and application:
Reasons to showcase that study and understanding of ethics makes for a better manager, good business and happy society:
A number of factors play a part in making a business profitable, including expert management teams, dedicated and productive employees, consistent consumer demand, and a careful watch over the bottom line. In addition to these well-known business practices, companies that implement a management philosophy that relies heavily on business ethics are proven to be more successful than those that operate in an unethical manner. Although it may not be the first variable considered in analysing the profits of a company, business ethics is an equally important catalyst to the success of a company.
The leadership of an organization holds the key to its long-term success, and remaining consistent with a management philosophy built on a foundation of ethics creates a positive example for all workers. Ethical accounting practices, treatment of employees, interactions with the public, and information disseminated to shareholders are all responsibilities of the leadership team and can have a direct impact on the overall profitability of the company. When these integral aspects of a business are not performed with a resounding theme of business ethics from the top-down, each facet of the business beneath the management team has a greater potential to falter in the short or long-term.
Companies would be nothing without shareholders and investors, and as such, operating with business ethics in mind is most important when interacting with these crucial players. It is common for the profitability of publicly traded companies to decline rapidly when they encounter situations where information regarding unethical behaviour is discovered. When confidence is lost, it can be a struggle for a company to regain the trust of the public, its investors, and its shareholders; profitability may take years to build up again.
The conclusion:
Employee happiness can also have an impact on turnover and retention, as unsatisfied workers are more prone to seek out other opportunities, regardless of higher pay or benefits offered by their current employer. Continuous recruitment and training of new employees can reduce the capital a company can otherwise spend on revenue- producing activities, ultimately shrinking its long-term profits. Implementing a sound ethical policy at a company ensures a positive impact on all stakeholders, from investors to employees to consumers. Companies that lay the framework for business ethics in all facets of operations are more likely to become and remain profitable than those that conduct business in an unethical manner.
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