Business Ethics And Csr In The Context Of Samsung

3341 words - 14 pages

BUSINESS ETHICS AND CSR IN THE CONTEXT OF
SAMSUNG ELECTRONICS


1.0 Introduction

In the 21st century of business, there are number of factors apart from the financial figures that play a vital role for the success story of the business corporations. These factors include the culture adopted by the business, philosophy of the management of the company, code of ethics and standards followed by business. The presence of all of these factors in the business’s ethical guidelines has a significant impact on the ability of the business organisations to perform well on the long term basis. In this report the Samsung Electronics’ ethical issues are studied along with the importance of the ...view middle of the document...

It is primarily a code of conduct which is based on the ethical and civic values so as to safeguard the interests of the different social groups like customers, workforces, creditors and management etc. Moreover it also provide the charter of the business activities which are required to perform voluntarily on the part of the business responsibility (Akrani, 2011).
On the basis of attached case study which is about the Samsung Company, where it admits that the phones of Samsung may contain tin from area mined by children, It is observed that earlier Samsung company was not addressing towards the code of conducts of the business but at a later stage when it come to know about the actual shocking impact of mining tin for electronics on people as well as on environment then Samsung company takes a responsibility to tackle this issue (Hodal, 2013). According to this case study the meaning of business ethics can be viewed as moral code of business obligation where it is the prime responsibility of the business man that he will not make harm to the society as well as to environment perceptively.

2.1 The Importance of Business Ethics
Business ethics play a very important role to achieve the goals and objectives of an organisation. The reason why business ethics is important in this era of global market is that it has a direct impact on communities and ultimately the sound ethical standards will lead the businesses towards the sustainability. The importance of business ethics can be explained on the basis of four main elements of the quadruple bottom line concept (QBL) as shown in figure 1, that lead to sustainable development.


Figure 1. Components of QBL concept
2.1.1 Profit
It is essential on the part of corporate organisations to frame the ethical standards so as to achieve the profitability of the business because the capacity of business corporations to earn profits to a large extent depends upon the ethical behaviour of the business organisation towards society and stakeholders. Maximizing profits of business should not be viewed as financial goal because it will not count business on the path of following moral standards rather the main objective of the business organisations should be more towards the increasing stakeholder’s value which automatically bring profits for corporations as well. Nowadays the definition of profitability in all reputed organisations is changed and it is viewed in context to the fair treatment of stakeholders in the organisations which is viewed to be in the best interests for the success story of the company. Furthermore, the corporations can portray their ethical behaviour by attracting consumers towards firm's products, thus improving sales and profits of the business (Akrani, 2011).

2.1.2 People
The importance of the business...

Other Essays Like Business Ethics and Csr in the Context of Samsung

Ethics and Social Responsibility in Business

998 words - 4 pages 9/6/2013 The Idea of Ethics and Social Responsibility in Business For the purpose of this essay I’ve elected to discuss the responsibility of the employee in the work place, and their place in the corporate system. All four chapters we’ve read in the text so far have been filled to the brim with the three author’s ideas of what makes a business and its workforce ethically responsible, but the particular section in the first chapter

Context of the Problem Essay

796 words - 4 pages information safe and secure has become vital to business survival. Presumably, each time you connect to the Internet you are wandering through a neighborhood which has a reputation for being jam-packed with scammers. These scammers sole mission is stealing consumer’s money, personal information, installing damaging programs on your computer, or misleading you with an online scam (Kulkarni, Kaduskar, 2010). Because of the easiness in which

The Csr Evaluation Of Gap Inc

2181 words - 9 pages responsibilities (CSR). Finally, the company made a decision to shift from the Utilitarianism approach to the Kantianism approach in its business ethics and CSR decisions. The new approach features three key principles, namely the universality, reversibility and respect. First of all, Gap decided to apply the same standard of ethical treatment to its workers whether they work for Gap in the U.S or third world countries. Secondly, under the Code of

Ethics in Business

519 words - 3 pages ASSIGNMENT-1 Ethics in business research Ethics in Business Research Ethics are the values or standards which are required in the organisation so that members of the organisation can represent themselves correctly or appropriately in the organisation and, besides that it also determines their relationship with other people. There are certain norms and ethical codes that an organisation might opt for

Ethics in Business Research

767 words - 4 pages Week 2 DQ 1 Ethics in Business Research Read the interview with Elizabeth Buchanan on virtual research ethics [Readings in virtual research: Issues and controversies. (2004, January-June).Information Technology Newsletter, 15(1), 22-25.].   You can find this article through the Ashford Online Library.   Write a summary of this interview and add your thoughts on how this affects the business research process.   Respond to at least two of

Evaluate the Practice of Earnings Management from the Prospective of Corporate Governance and Business Ethics

2383 words - 10 pages Evaluate the practice of Earnings Management from the prospective of Corporate Governance and Business Ethics Definitions of Earnings Management Traditionally earnings management is viewed as a distortion of economic events that is misleading to certain user of financial statements. Below are two widely quoted definition carrying this point of view: Schipper (1989, 92): “a purposeful intervention in the external financial reporting

Ethics in Business

4548 words - 19 pages Debate, online) The impact of ethics on business needs to be seen as positive. Corporations that are purely profit driven will not see this positivity as they perceive that ethics limits them to do business as they wish. One thing they must bear in mind is that consumers are more savvy and educated now and respect organizations that practice business in an ethical way and support these organizations wholeheartedly. Ethics drives business to

Business Ethics in Infosys

1353 words - 6 pages governance and morality in business he told the audience “We follow one principle – the softest pillow is a clear conscience”. Later, he was quoted on this many times by senior government ministers and business leaders - such was the impact of his communication of ethics and leadership. I cannot recall if at the same time he quoted Mahatma Gandhi who urged us to “be the change you want in the world” which is one of the great ethical exhortations of the

Ethics in Business Casen

1986 words - 8 pages was spent for the advirtising in Malu were spent in vain the other problem which could be mentioned in there is that she will need to write a new marketing plat for “Gold” brank and she will need to spend more time and money resources and most likely she will experienced a huge difficulties. The main problem, which will exist in the second alternative, is a problem of Fiona’s morality and ethics understanding in a business vision. The

Ethics in Business

2353 words - 10 pages Ethics in Business From a business perspective, working under government contracts can be a very lucrative proposition. In general, streams of orders keep coming in, revenue increases and the company grows in the aggregate. The obvious downfalls to working in this manner is both higher quality expected as well as the extensive research and documentation required for government contracts. If a part fails to perform correctly it can cause

Business Ethics in Buddhism

4614 words - 19 pages Donald K. Swearer. Ethics, Wealth, and Salvation: A study in Buddhist Social Ethics, Univ of South Carolina Pr, (1993): 58-269 Field, Lloyd M. Business and the Buddha: Doing Well by Doing Good, Wisdom Publications, (2007): 147-222 Iwao Taka. Business Ethics: A Japanese View, Business Ethics Quarterly, Vol. 4, No. 1 (Jan., 1994), pp. 53-78 Yoshio Maruta. Business Ethics, Eastern Style, Journal of Business Ethics. , (Apr 2002) pp. 1571-1577

Related Papers

The Importance Of Ethics In Business

1713 words - 7 pages society was controlled by a specific value system (Hulme, 2000) that we do not have in today’s world of living. In current society right and wrong is judged by how one is perceived not by how one chooses to think. Business ethics is the ability to make the right decision in regards to how business is conducted. Trust is built on expectations of work and consistency in behavior, so it is conceivable to be beneficial when someone states one thing and

The Role Of Ethics In Business

1065 words - 5 pages The Role of Ethics in the Workplace Ron Kebul MBA 530 September 17.2012 Joseph (2000) noted that leaders who want to establish a practice of positive workplace ethics within their organizations should develop written ethics standards, provide ethics training, and ensure resources are available for employees in need of ethics advice. According to him, the list of potential benefits linked to an effective ethics program

Business Ethics: The Role Of Culture And Values For

5965 words - 24 pages Research Quarterly Published by the Society for Human Resource Management Business Ethics: The Role of Culture and Values for an Ethical Workplace FOURTH QUARTER–2009 Whether in domestic or global companies, ultimately, the commitment to business ethics and the foundation is built through organizational culture, with ethical values reflected in the workplace. Business Ethics: The Role of Culture and Values for an Ethical Workplace

Assignment: Understanding The Business Context Of Human Resources (5cbic)

2815 words - 12 pages CIPD Level 5 Diploma in Applied Human Resources | Assignment: Understanding the Business Context of Human Resources (5CBIC) | Name: Sian GluckTutor: Tim BatesDate: 29/08/2014 | No. | Understanding the Business Context of Human Resources (5CBIC)Contents: | 1.0 | Compare two different types of organisation and their operational/business purpose (AC:1.1) | 2.0 | Assess how business type and purpose affects the HR Function (AC: 1.2