Studying Business Ethics, Corporate Governance, and Social
Responsibility course has equipped me with invaluable knowledge and
skills that would be critical to navigating the complex working
environment that presents difficult business decisions with ethical or
moral considerations. As a prospective future manager, I understand that
most business decisions present ethical dilemmas as they border grey
areas where it can be challenging to conclude whether a decision is
ethically right or wrong. However, with the knowledge and ethical
concepts learned from this course, I will capably oversee the integration
of ethics and good governance into strategic business decisions in my
future company.
In this course, I have learned that it’s important to encourage
positive behaviour and instill codes of conduct in an organizational
environment that would empower employees to make good choices
whenever they are faced with complex business decisions of different
types of risks that have ethical issues. Given that a business
organization does not operate in a vacuum, its business decisions can
have different implications for its investors, customers, society and
employees (Ferrell et al., 2022). Therefore, learning this course gives me an
opportunity to understand how an act could have negative
consequences and wrong outcomes among interested parties and
society at large when ethics are overlooked. In the course, I had the
opportunity to evaluate different scenarios and case studies that have
developed my ethical decision-making skills, which I will apply in my
future work environment wherever presented with business ethical
dilemmas. With ethical decision making concepts, I can lead and guide
many other employees and various set-up teams in applying the
principles of business ethics. As a manager, I will encourage our
employees to be honest with our clients and ensure fair treatment to all
while making decisions that are in the best interest of all business
stakeholders. This will give birth to a culture of ethics within our
organization where trust, respect, and integrity are the cornerstone of
every decision.
From this course, I have learned that a business should engage in
social responsibility causes that contribute well-being of the society to
promote its public image. Social responsibility goes beyond legal
compliance and profit-making to address the broader needs and concerns
of stakeholders, such as employees, customers, suppliers, the local
community, and the environment (Ferrell et al., 2022) . As a manager, I will
encourage my orgazation to participate in solving problems that the
society faces within our location that are relevant to our organization and
stakeholders. I will also that social responsility strategy is integrated nto
our organization's mission, vision, and values. This involves setting
objectives and key performance indicators that align with social
responsibility goals and integrating these goals into our organization's
business plans and activities.
For the success of any business, strong corporate governance
should exist to encourage ethical and responsible behavior of an
organization. Corporate governance refers to the system of rules,
practices, and processes by which a company is directed and controlled.
strong corporate governance helps an organisation to establish code of
ethics as well as assist in setting clear guidelines for decision-making
(Ferrell et al., 2022). With knowledge how to implement good governance, I
will make sure that our organization has strong governance structures
that will help establish a code of ethics that outlines the organization's
values and expectations for behavior, as well as training programs to help
employees understand and follow those standards.
References
Ferrell, O. C., Fraedrich, J., & Ferrell, L. (2022). Business ethics: Ethical decision making
and cases (13th ed.). Cengage Learning.