BUSINESS ETHICS, CSR AND LEADERSHIP

Business Ethics, CSR and Leadership

Business Ethics, CSR and Leadership

Introduction

This paper intends to discuss the significance of most important concepts of business in modern times. The concepts that drive the success of businesses today are the successful implementation of business ethics, corporate social responsibility and leadership. All these concepts are assumed to be extremely important in order to survive and grow in the most competitive times of business. The businesses which are essentially focused on the successful implementation of such concepts are able to survive even in the times of recession or any other unforeseeable circumstances. Different relevant journals and books will be used as importance sources to answer the questions within this paper. The paper would start by identifying two examples of businesses which have encountered poor press the underlying consequences it caused for their businesses in relation with the concept of business ethics. The important issues faced by the business organizations and the identification of its impact over the business will be done in this paper.

Moving on, the programme of Ian Hislop “When bankers were good” on BBC will be evaluated. Different and important lessons that any company can learn from their predecessors will be highlighted in this part of the paper. Further, the importance of appropriate ethical and corporate social responsibility policies will be researched and discussed. The identification of legal and moral reasons for the presence of such policies will also be explored. Lastly, the paper will provide most appropriate conclusions and recommendations in order to make the businesses more effective and efficient in future. The purpose of this paper is to make the reader aware about the significance of the most prominent concepts of business ethics, corporate social responsibility and leadership.

Discussion

Question 1

Identify 2 examples of businesses that have encountered poor press and the problems it caused for their business, with respect to business ethics. Evaluate and critically analyse the issues faced by the organisation and identify the impact on the business.

Answer

Press or Media reporting remains one of the most important aspects for the survival and growth of businesses. The media reports tend to impact the mind of consumers, the position of stock exchange and the underlying status of the business within the industry. The ethical stance of media must remain positive to the activities of business. There are various companies which tend to measure the negative articles published about businesses at its underlying impact over the performance of the businesses. There are immense consequences which the companies have to face in relation with the negative or false reporting of media (Brown & Mitchell, 2011 Pp. 20-24).

Various big businesses issues and corporate scandals have been reported by media. Even the 'big names' of the business industry are not protected from the negative reporting of media. For instance, the British Petroleum's multi million gallon oil spill and the Johnson and Johnson's and Toyota's several million product recalls reporting tend to impact the business in the worst ...