BUS300: Individual Report Assignment Help
Question
BUS300: This individual report assignment calls for a critical analysis based review for one of the contemporary ethical issues in the business environment and provides a detailed rport for the same. In order to complete this assignment, students are required to provide a critical assessment for the meaning sustainability holds in the subject area of “Business ethics and Sustainability”. The assignment also needs to incorporate how the term is used by different companies and evaluate if how the company understands the term sustainability has an impact on the overall working of the company.
Solution
The solution provides a detailed analysis of the term ‘sustainability’. Our experts have also incorporated the interplay between sustainability and corruption by highlighting how corruption can signficiantly impact growth and sustainability for an organisation. Examples from the case study of Siemens and FIFA are also taken into account and the solution also incorporates steps for reducing corruption from the organisations.
Firstly, an introduction is written in the report to provide foregrounding to the understanding of sustainability in businesses. You can read half of the introduction below.
Introduction
There are three primary aspects of sustainability in businesses which are the economic, social and environmental parameters. Large and small organizations alike are able to address these aspects much depending on the management practice that is followed in the organization. There has been a rise in Corporate Social Responsibility and this aims to build a road towards equitable treatment in the society and sustainability by ensuring that this does not infringe on any company’s goal of growth and profit maximization (Burkey, et al., 2021). A few of the national economies have actually taken relevant action towards discharge of toxic materials into air, water or land or steps towards reduction in the emission of greenhouse gases. Lack of moral responsibility in a collective manner is reaching a new level of harm in this manner.
Wish to know more about what sustainability means in the business context? Just WhatsApp us at +447700174710.
The next part assesses the relation between sustainability and corruption, and how corruption can impact the sustainability for a company.
Sustainability & Corruption
Corruption is one of the major challenges to business ethics and sustainability that affects companies of all shapes and sizes in all countries.
This is only 50% of the correlation written by our experts. To know more, reach out to us at +447956859420.
The different forms of corruption are highlighted to better understand its relation to sustainability. Additionally, this helps the reader understand how different forms of corruption can impact different companies differently. This is explained through two examples of the cases of Simens and FIFA.
Forms of Corruption
- Commercial bribery
These often include the employees related to one company giving expensive gifts, payments and undue advantage to employees of another company or companies so as to secure advantages. For instance, companies have been found to pay procurement staffs so as to get the decision in favor of the company that is paying, expensive gifts to banks for securing of loans and various kickbacks that might be associated with this (Epstein, 2018).
- Solicitation and Extortion
This is a type of corruption that occurs when an employee requests unfair payments, undue advantages or expensive gifts in return of specific tasks or decisions that are business related.
- Hospitality and gifts
Sometimes unfair gifts are given so as to influence important business decisions. These may include luxury items, travel tickets etc (Gaimon, et al., 2018).
- Commissions and fees
Sometimes intermediaries and agents are paid fees beyond what is a recognized industry standard with an intention to alter business decisions and tasks. Payment characterization is just another way of bribe payment in a disguised manner.
Case of Siemens
The case of Siemens Germany is one of the greatest example of corruption in the corporate world. Certain types of bribes that were paid abroad had tax liability for the German companies till the year 1999. These were simply categorized as ‘useful expenditure’ when these were not done in German soil and did not have any involvement of state officials. In the year 2006 it was found that Siemens was taking bribery in the corporate world to a new level.
Case of FIFA
Massive money laundering and racketeering was found in the football ecosystem that is managed by FIFA. Nine top FIFA officials were charged with corruption for this.
Here, we have provided just half of the forms of corruption and only a part of the case study written by our experts. But you can get the complete copy through just one mail- onlineassignmentservices1@gmail.com.
The following section points out steps which have proven to be effective in reducing corruption and consequently leading the companies towards sustainability in their businesses.
Minimizing corruption
The Transparency International was founded about 25 years back and till then corruption was seen as something that is necessary for business as it was deeply ingrained in the business culture. Sometimes exposing or fighting corruption was considered as a futile endeavor. The world has changed ever since and today media, citizens and politicians alike actively condemn such abuse of power. This has been possible due to the scandals of the past and the consequences for the same. Some of the business corruption practices in the recent past inspired condemnation at a widespread level, have resulted in toppling of governments and so on. As a result many companies and governments started the implementation of reforms that are anti-corruption in nature together with recovering of huge losses that have been incurred.
According to The Handbook of Business and Corruption, the word corruption means a change from good or functional to bad or dysfunctional (Nichols, 2017). The general definition says that organizational corruption as the abuse of trust or power for purposes of self-interest rather than utilization of the same for which power or trust should be used (Meacham, et al., 2019).
According to Journal of Business Ethics corruption presents a challenge of tenacious nature to the companies that are operating in multiple countries (Hauser, 2019). According to the present anti-corruption measures, companies can be held accountable as well as liable criminally if it does not put in reasonable measures to prevent corrupt practices. One of the most effective measures of preventing corruption is regular employee training which minimizes the likelihood of employees being involved in corrupt practices. According to the neutralization theory professionals who have attended anti-corruption training are more likely to reject corrupt practices as compared to those who have not undergone such training (Poulton, 2021). However, the training methodologies must become more and more specific so that ethics and compliance related attributes can also be factored in.
Want to know more ways of minimising corruption? Wait no more and call us at +61 871501720.
The next part incorporates the different steps which need to be accommodated in the organisations to help curb corruption. Our experts have proposed the steps for reducing corruption which companies have incorporated in their organisational strategies as well. Our experts have used the case study of Coca Cola’s strategy of combating corruption in Myanmar.
Steps to remove corruption in organizations.
Corruption is a menace that is affecting societies and businesses alike and poses various operational, financial and reputational risks. Companies these days are implementing various effective and serious anti-corruption measures as well as policies that are already included in their business and operational strategies. The various ways in which accountability, transparency can be promoted in organizations along with reduction in corruption are:
- Commitment: anti-corruption should be made part of the company’s operations and culture. The customers, employees and suppliers should be shown that the organization has zero tolerance towards corruption and bribery. Commitment is one of the strongest values that can help to control corruption in a major way (Sunderland, 2019).
- Assessment: the risks should be known and effective preparations made for them. Opportunities for improvement in the business should be recognized so that the business compliance can be increased. This can be done when there is a clear definition of success in the company. There is a need to develop strategies, goals and policies so that buy in can be obtained from the colleagues after showing the importance and benefits that can be arrived at from these policies.
Combating corruption Case: Coca cola in Myanmar
Challenge: in Myanmar the company follows a zero-tolerance outlook towards operational corruption. This includes the total value chain consisting of the logistics, bottlers etc.
Addresses: all the drivers who ferry coca cola trucks carry a card in person that states the anti-corruption practices involved. The details on how coca cola has a commitment to no bribery or payment facilitation is highlighted in the card.
These are only a snippet of the answer written by our expert. To know more, reach out to us at +447956859420.
Lastly, a brief conclusion is provided to discuss the findings of the report and highlight the significant points of the assignment.
Conclusion
Sustainability through ethics as evident from the research has become not only an important consideration, but also a mandate for the modern-day organizations. There are some organizations which try to artificially boost the reputation of their companies through ‘green washing’ or creation of creative public relations. On the other hand, there are some companies which envisage the integration of long terms changes in their business operations for 8 | P a g e sustainability. As could be seen in the case of Siemens and FIFA, how ethical noncompliance led to disputes.
Want help with your business sustainability assignment as well? We can help, just WhatsApp us at +447700174710.
