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Ethics is just one of those things that corporations need to consider when making business decisions. Whilst there are many aspects to consider when analysing and understanding the intersection between what is legal and what is ethical or moral, an overriding consideration for any corporation must be the level of profits they are making and the impact they are having on key stakeholders. In the majority of cases these stakeholders are usually shareholders. They have expectations regarding governance and accountability. If these expectations are not met, then leadership has failed
Consider the above quote and critically evaluate its key messages. Your critical analyses should include the following:
The role of ethics in the business decision-making processes
The relative positioning between what is legal and what is ethical in decision-making
The apparent conflict between making profit and acting ethically
The challenges of stakeholder requirements including who these stakeholders are and the impact they have on how corporations may act
How governance frameworks impact ethical decision making, and
How leadership success or failure may be determined in the context of ethical decision-making
You must provide a conclusion which outlines your views regarding the above quote and your arguments provided in the body of your report that support this conclusion.
To encourage students to develop an understanding of the complexity of business activity where principles of ethical behaviours are often challenged.
Students will be provided with a statement regarding business ethics. They will be expected to critically analyse the content of the statement by applying knowledge gained through relevant lectures and supported readings. The statement will be provided to students in Week 2.
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