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HC2121 Comparative Business Ethics and Social Responsibility

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Task: Choose a recent news/media article that has been published within the last 3 months that concerns a business ethics issue/s and answer the questions using an essay style format:...

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Question Preview:

Task: Choose a recent news/media article that has been published within the last 3 months that concerns a business ethics issue/s and answer the questions using an essay style format:

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IntroductionIn this assignment, we will focus on the business ethics issues regarding personalization. In this assignment, we will discuss an article which addresses the issues of business ethics. The article addresses the topic of whether the businesses can be both profitable and also ethical using personalization. Ethics establishes the standards and rules which governs the moral behavior of the groups and individuals. A business organization can form an effective decision-making framework by clearly understanding the ethics, values, and morals while using the principles of ethics. The organization which shows the willingness to add the principles of ethics to the decision-making structure indicate their intention of promoting fairness in the organization culture and the intention of avoiding the potential ethical problems. The ethical programs should be the inherentpart of the life of the organization and these codes of ethics should protect the moral values ofthe firm in the process of decision making and should protect the individuals.There are several significant benefits which ethical behavior and corporate social responsibilitybring in the business such as it attracts the customer which further helps in boosting the sales andprofits. Ethical behavior in the organization attracts employees and they stay in the businesswhich further increases the productivity. It also leads to a reduction in the cost of recruitment andit enables the company to attract the most talented employees. Businesses which do not followthe ethical code have to face long-term consequences in the future. It damages the reputation ofthe business and makes it less appealing to the shareholders which can also result in a reductionof profits. The importance of ethics in business is far beyond the loyalty and morale ofemployees or the strength of the management team bond. The profitability of the business in bothshort term and long term is directly impacted by the ethical operations of the company. Thebusiness reputation in the surrounding community and among the individual investors plays amajor role in determining whether the company is a worth full investment or not.

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