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Explain the concepts of values and business ethics in business.
BUSINESS ETHICS AND CORPORATE SOCIAL RESPONSIBILITY.
Unit Reference Number
A/617/6042
Unit Title
Business Ethics and Corporate Social Responsibility.
Unit Level
5
Number of Credits
20
Total Qualification Time (TQT)
200 hours
Guided Learning Hours (GLH)
80
Mandatory / Optional
Mandatory
Unit Grading Structure
Pass / Fail
The aim of this unit is to make students aware of the importance of values and ethics in business. This unit also provides a background to ethics as a prelude to understanding the skills of ethical decision-making and explores how to apply those skills to the real and current challenges.
Learning Outcomes and Assessment Criteria
Learning Outcomes-
The learner will:
Assessment Criteria-
The learner can:
1. Understand value and ethics in business management.
Explain the concepts of values and business ethics in business.
Explain ethical decision-making in business management.
Analyse the ethics management process utilised in business management.
2. Understand knowledge management and fair judgement in business.
Analyse the concepts of knowledge and fair judgement in management in a business context.
Evaluate the contribution of knowledge management and fair judgement to business.
Evaluate the impact of business knowledge on the supply chain process in business management.
3. Understand the management of change and transformation in a business setting.
Explain the meaning of change within a business setting.
Evaluate how change transforms the dynamics of business operations within a business setting.
Analyse the processes and challenges of transformation within the business environment.
4. Understand corporate social responsibility in business management.
Explain the concept of corporate social responsibility in business.
Analyse the concept of corporate governance in business management.
Evaluate the impact of corporate governance on ethical business behaviour in business management.
Scenario
You have been employed as a consultant for Caffe Terra, a national coffee shop brand that are planning to expand internationally. They source coffee beans from many different countries and have a range of products and services, including self- service machines that operate nationally in the UK. They are planning to expand globally, and you are required to investigate and explain the ethical business concepts and CSR practices of supply chain management to inform them how to proceed during their own expansion.
You are tasked with creating a report for a newly appointed Territory manager who needs a quick briefing of the current operations and future expansion plans.
Task 1 of 1 – Senior Management Report Instructions
Your report will consist of the following two parts:
Part A
Start your report by explaining
Conduct an analysis
(LO1, AC1.1, AC1.2, AC1.3)
Provide an analysis
An evaluation
An evaluation
(LO2, AC2.1, AC2.2, AC2.3)
Part B
An explanation
An evaluation
Conduct an analysis
An explanation
Conduct an analysis
An evaluation
(LO3, AC3.1, AC3.2, AC3.3)
(LO4, AC4.1, 4.2, 4.3)
Delivery and Submission
Word count 3500 words excluding TOC, diagrams, references and appendices.
Sample Answer (Plagiarised)
Values and business ethics are foundational principles that guide the behavior and decision-making within an organization.
Values :Values represent the fundamental beliefs and principles that are important to an organization. They serve as a compass for the actions and behaviors of individuals within the organization. Values can encompass a wide range of principles such as integrity, honesty, accountability, respect, teamwork, innovation, and customer focus, among others. These values are often articulated in a company`s mission statement or code of conduct and are integrated into its culture.
Values play a crucial role in shaping organizational culture and identity. They influence how employees interact with each other, how they approach their work, and how they engage with customers and stakeholders. For example, a company that prioritizes innovation may encourage risk-taking and experimentation among its employees, while a company that values integrity may emphasize honesty and transparency in all its dealings.
Business Ethics :Business ethics refers to the moral principles and standards that guide the behavior of individuals and organizations in the business world. It involves making decisions that are ethical, fair, and socially responsible. Business ethics encompasses a wide range of issues, including honesty, fairness, respect for human rights, environmental sustainability, and compliance with laws and regulations.
Ethical behavior in business involves more than just complying with legal requirements; it also involves considering the broader impact of decisions on various stakeholders, including employees, customers, suppliers, communities, and the environment. For example, a company may choose to source materials from suppliers that adhere to fair labor practices, or it may implement environmentally friendly practices to minimize its carbon footprint.
Business ethics is essential for building trust and credibility with stakeholders. Companies that operate with integrity and ethical principles are more likely to attract customers, retain employees, and maintain positive relationships with investors and the community. Moreover, ethical behavior can contribute to long-term success and sustainability by mitigating risks and enhancing reputation.
Values and business ethics are essential aspects of responsible business conduct. By embracing core values and adhering to ethical principles, organizations can create a positive work environment, build trust with stakeholders, and contribute to the well-being of society.
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