Ethics, Compliance, and Training Discussion:
Read chapter four in the textbook and Ethics, reputation, and compliance gain as corporate priorities (Links to an external site.)Links to an external site.. In the article, Hagel (2015) stated
The demand for greater transparency from consumers and stakeholders across the world has pushed the areas of ethics and compliance up the corporate list of priorities in recent years. In addition, the risk to reputation and potential damage that can be done if evidence of unethical practice is discovered have increased significantly with the advent of social media. (para. 2)
Based on the importance of transparency, your organization (you can represent any organization, McDonalds, Starbucks, ESPN, etc.) has asked you to create a training presentation on ethics and compliance to be presented next week. Referencing the Hagel article, the Gonzales-Padron textbook, and at least two other journal articles, present an outline for your training as a response to this thread.
Your response must be a minimum of 300 words.
Reply to Edwards Discussion with 150 word minimum:
Companies need to create higher codes of ethics and compliances with stakeholders to make shareholders and customers feel at ease. “Financial return was a driver of ethical performance, perhaps because consumers are willing to pay more for products from companies they see as generating a positive social and environmental impact” (Hagel, 2015). Starbucks will be able to continue to sell their beverages and food items at a premium price without sending customers promotions if they have an open line of communication. Having a higher code of ethics and compliances will allow the company to generate more lines of revenue by creating new products and services.
About 8 years ago, the company found itself in an unethical act by not being honest with consumers about the ingredients in their beverages. “A Los Angeles judge has ruled against Starbucks and other big-name coffee sellers in a lawsuit filed back in 2010 by a not-for-profit group alleging that the companies were required to warn consumers about carcinogenic chemicals in their products” (Higgins, 2018). This lawsuit could have been avoided if the company did not hide any warnings that their coffee can give.
“Transformational leadership is built on trust, where unethical acts aren’t acceptable. Starbucks leadership possess transformation leadership style because of the belief in personal identification by influencing the inspirational level of leader and followers’ perceptions about the internalization of the organization” (Orta, von Feigenblatt, Lemus & Rivero, 2015, p. 34). Unlike upper management, lower level employees work directly with customers, which means they need to be a part of the decision-making process when new guidelines and polices are created.
“Starbucks placed “people over profits,” shareholders were still an extremely important constituency group. The company’s ability to differentiate a commodity product through quality, image, and social responsibility allowed the company to profit” (Argenti, 2004, p. 103). Have an open line of communication with shareholders during meetings and email about new research that can benefit the company and threats as well.
Argenti, P. A. (2004). Collaborating with Activists: How Starbucks works with NGOS. California Management Review, 47(1), 91-116.
Hagel, J. (2015, Mar. 1). Ethics, reputation, and compliance gain as corporate priorities. Retrieved from https://www.journalofaccountancy.com/issues/2015/mar/business-ethics-and-compliance.html (Links to an external site.)Links to an external site.
Higgins, T. (2018, Mar. 30). Starbucks, other California coffee companies may have to put cancer warnings on cups, packaging after lawsuit loss. Retrieved from https://magazine.promomarketing.com/article/starbucks-california-lawsuit-cancer/
Orta, M., von Feigenblatt, O. F., Lemus, E., & Rivero, O. (2015). Starbucks Corporation: Leading innovation in the 21st Century. Journal of Alternative Perspectives in The Social Sciences, 7(1), 23-38.
Reply to Jeffreys Discussion 150 word minimum:
Thank you for choosing me to create a training presentation on ethics and compliance. Hagel (2015) mentioned that safeguarding the reputation of a company can be a primary motivating factor when companies are looking to establish and embed ethical standards. However, there may actually be several factors involved in making ethical decisions such as: the reputational views of stakeholders, financial return, and regulatory or legal compliance.
Gonzalez-Padron (2015) described that ethics and compliance primarily focuses on keeping organizations out of trouble. Unfortunately, Volkswagon knows all too well about ethical troubles with the recent emission scandal. According to Patra (2016), The Volkswagon Group (VW) confessed to manipulating emission tests in the United States in 2015. The company installed software into millions of diesel fueled vehicles that would give far better emission test results than what they actually have during normal operating conditions.
Hagel (2015) mentioned that training staff and communicating ethics policies as being important steps to improving ethical behavior. Therefore, this training presentation should be very beneficial. Rogerson (2018) wrote that VW violated several principles which we will go over here to prevent any further scandals.
Gonzalez-Padron, T. (2015). Business ethics and social responsibility for managers [Electronic version]. Retrieved from https://content.ashford.edu/
Hagel, J. (2015, March 1). Ethics, reputation, and compliance gain as corporate priorities Journal of Accountancy. Retrieved from http://www.journalofaccountancy.com/issues/2015/mar/business-ethics-and-compliance.html
Patra, B. P. (2016, March). The Deliberate Deception: Case Study on Volkswagen Emission Scandal. Vilakshan: The XIMB Journal of Management, 13(1), 139-148.
Rogerson, S. (2018, March). Ethics Omission Increases Gases Emission. Communications of the ACM, 61(3), 30-32.
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.Read more
Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.Read more
Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.Read more
Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.Read more
By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.Read more