BUSINESS ETHICS

Mattel, Inc.



Mattel, Inc.

Answer 1

The word excellence comes from the Latin word excellentia, and it means the quality of being extremely good. Human excellences could be defined as those human qualities that make a person outstanding, exceptional, superior, or, in one word, the best of one's kind in any field of human activities. Frequently, synonymously used with the word virtue, narrowly meaning moral excellence. Organizations, are also expected to show excellence in their behavior, actions and practices.Humility

The word humility, rooted in the Latin word humus meaning earth or ground, and from the Latin word humulis meaning on the ground. Colloquialisms such as down to earth and “having a grounded view” reflects humility's lexical origin. Thus, in general terms, humility means to have a grounded view or perspective of oneself and others. One scholar suggests that humility entails a deeply held belief in the equal dignity and shared limits of all persons". From this perspective, humility may entail seeing the self and others as sharing general human limitations, as well as worth and dignity (Janis, 2008). This grounded view of self and others enables a humble person to acknowledge his or her own personal qualities and limitations (as well as those of others) without producing feelings of superiority or inferiority.

Honesty

Honesty means having integrity and being truthful. These traits are generally desirable, and honesty acknowledges a basis for any human interaction. It has immense value in business, as there are countless interactions between, public, consumers, suppliers and employees. For an organization to succeed, it should have the trust of all of these stakeholders, and it is only possible if all those stakeholders have faith in the organization's honesty. Thus, a trustworthy organization has bright chances to be a successful and flourishing institution.Fairness (Organizational Justice)

Organizational Justice is essentially the perception of fairness and the reaction to those perceptions in the organizational context. There are three areas of Organizational Justice, namely: distributive, procedural and interactional justice. Distributive justice, based on equity theory, refers to the perceived fairness regarding a person's perceived input versus the reward obtained (Greenberg & Colquitt, 2005). As the name implies, procedural justice is the perception regarding the process followed to arrive at a particular outcome. Lastly, interactional justice refers to the manner in which information is communicated and the explanation given.Answer 2

Since the last 20 yrs, multinational corporations have been alleged to abuse market power and have unethical and unfair business conduct, specifically in regards to their abroad operations ...