Assignment 1: Ethical Dilemma Assume you are a manager of a large heavy equipment manufacturing company.
BUSINESS ETHICS
Keeping business ethics is important in any business venture. It concerns an individual’s moral judgments about right and wrong will continue doing business with the firm as usual. This will attract employees that are working for my business if upheld; they will also make the employees want to stay with the company thus reducing labour turnover thus increased productivity. Sales and profits will still be boosted as customers and investors will get attracted to the company. This keeps the company’s share price high. This will protect the business takeover (A.C., 2010).
There are various factors that I will consider before deciding on whether to work or do away my business with this organization. The effect of profitability will be looked at .by calculating the return on investment, positive results encourages the business to go on. The brand impact factor is also important (Edwin C. Leonard, 2015). This will relate to what other customers of my business think when making decisions in public. The effect bon resources should also be considered and not forgetting a look at the opportunity cost as making a choice creates space for loosing another this is because getting other customers might result into them providing few or lesser services than had intended.
In making my managerial decision, I will first have to be clear on what decision I want to make. I will try to clearly define the nature of the decision I have to make. Next is to gather relevant information ,by knowing what is needed, best sources about the information and how to go about it, will then identify necessary alternatives ,weigh the evidence I have then later select the best alternative that suits me. At step six an action will be taken and later review my decision and its consequences. I will continue doing business with the organization.
I will embrace a list approach and data driven style in making mydecision.this is because I have considered all the pros and cons of doing and not doing business with this organization and also analyzed the hard data I have especially in relation to numbers and advantages in terms of profits.
Swot analysis is important in understanding my strengths, weaknesses and identifying opportunities open to me and their threats.
| Strength | Weaknesses |
| There are multiple profits that my organization is getting that is up to 15% if I continue with the business My company’s outsourced materials are well received by the consumers who are in demand of them Good use of technology that provides efficiency in the company. This boosted by the specialized skills our employees have | Will have to embrace motivation amongst my employees for better productivity Harsh and dictatorial treatment of workers in my company be regulated Other organizations might see the fewer customers that I outsource as my weakness. Poor and ignorance of the code of ethics by some of the staff leads to reduction in sales |
| Opportunities | Threat |
| If the demand of the heavy equipments that I supply is high then the profits might multiply Many consumers of my products are interested in the technological part of the business. If this is utilized then my market will be wider | lots of competition that is stiff from other heavy materials manufacturing companies that are outsourcing their materials at a cheaper price Other companies have embraced serious campaigning don social media and other electronic medias such as TVs which my company isn’t doing |
References
A.C., F. (2010). Business Ethics And Corporate Governance. Pearson Education India.
Edwin C. Leonard, K. A. (2015). Supervision: Concepts and Practices of Management. Cengage Learning.
