the impact of business ethics of competent leadership on the small enterprise
4000 words literature reviews
this is the part of the dissertation, so I don’t need introduction and conclusion
FACULTY
OF BUSINESS AND HUMANITIES
Department of Business
B.B.S. HONOURS DEGREE IN BUSINESS MANAGEMENT
STUDENT GUIDELINES
FOR RESEARCH DISSERTATIONS
2020/2021
Contents
1.
2.
3.
Introduction……………………………………………………………………………………………
4
Key Dates for Dissertations 2020/2021
……………………………………………………
5
The Dissertation Process ………………………………………………………………………..
6
3.1
The Role of Supervision ………………………………………………………………………….6
3.
1.1
3.1.
2
3.1.
3
3.1.4
3.1.5
Approval of research topic ……………………………………………………………………6
Continuing direction …………………………………………………………………………….
7
Meeting your supervisor and student progress ………………………………………..7
Supervision in the later stages………………………………………………………………7
Assessment
of dissertation …………………………………………………………………..
8
3.2
Logbooks………………………………………………………………………………………………8
4.
Dissertation Syllabus………………………………………………………………………………
9
4.1
Introduction……………………………………………………………………………………………9
4.2
Relevance for the Management Student ……………………………………………………9
4.3
Aim of the Dissertation ……………………………………………………………………………9
4.4
Learning Outcomes of the Dissertation
……………………………………………………..9
4.5
Subject Matter ……………………………………………………………………………………..
10
4.6
Prerequisites and Guidance …………………………………………………………………..
11
4.7
Assessment …………………………………………………………………………………………11
5.
Recommended Reading ………………………………………………………………………..12
2
6.
7.
Other Resources ………………………………………………………………………………….
12
Guidelines and Regulations on Research Dissertations for Students…………..
13
7.1
Originality ……………………………………………………………………………………………13
7.2
Length ………………………………………………………………………………………………..13
7.3
Submission ………………………………………………………………………………………….13
7.4
Oral Examination ………………………………………………………………………………….
14
7.5
Presentation and Title Page …………………………………………………………………..14
7.6
Printing and Typing ………………………………………………………………………………
17
7.7
Pagination …………………………………………………………………………………………..17
7.8
Declaration ………………………………………………………………………………………….17
7.9
Acknowledgements
………………………………………………………………………………
20
7.10
7.11
7.12
7.13
7.14
7.
15
7.
16
7.17
Table of Contents………………………………………………………………………………20
Abstract ……………………………………………………………………………………………20
Bibliography ……………………………………………………………………………………..20
Referencing………………………………………………………………………………………20
Appendices ………………………………………………………………………………………
21
Headings and SubHeadings ………………………………………………………………21
Subheadings ……………………………………………………………………………………21
Subsections …………………………………………………………………………………….21
3
1.
Introduction
The research dissertation is one of the key components of the final year of the degree
and one of the unique characteristics of the course. Essentially, it acts as a capstone,
allowing the student to apply in an integrated fashion the theories, ideas, skills and
techniques that have been approached throughout the time on the course.
Most
importantly, it allows the student to choose the subject area, approach and
methodology to a particular management / human resource management issue and to
bring it to fruition as their own selfmanaged work. The dissertation can approach an
area of personal academic or career interest and can serve as a useful springboard to
future career aspirations.
The importance of the dissertation is evidenced by the substantial time and resource
committed by the School of Business and Humanities to the supervision of the
students.
Below you will find a list of the key dates relating to the dissertation, and this is followed
by detailed guidelines for students, including the revised Style Guide. Make sure that
you are familiar with these regulations and guidelines and that you meet with your
supervisor to commence your dissertation.
4
2.
Key Dates for Dissertations 2020/2021
Date
Friday, 9th October 2020
Details
Submission
of dissertation proposal.
Week beginning the 19th October 2020
Feedback on dissertation proposals and allocation of supervisors
Thursday, 10th December 2020
Submission of
Literature Review
(Draft)
Friday, 19th March 2021
Submission of completed dissertation to
School of Business and Humanities
Office. (This is worth 100%)
5
3.
The Dissertation Process
The dissertation is your own work, from the selection of a topic to the analysis of a
particular problem through to the completion of the finished work. It is crucial that you
incorporate your reading, research and progress into your weekly college activity. You
should dedicate the dissertation hours scheduled on your timetable to working on your
thesis. You are the driver of this subject and you take full responsibility for any choices
made regarding your topic, methodology, time management, submission etc. In
addition, it is crucial that you utilise the supervision provided by the college to help you
during the process.
3.1
The Role of Supervision
Based on your proposal, you will be allocated an academic supervisor at the beginning
of the year. It is your responsibility to meet your supervisor immediately and to agree a
weekly meeting time. The supervisor is there to guide and assist you in your
dissertation throughout the year. You must be proactive in utilising this supervision,
bringing drafts of work in progress, ideas and action plans to the meetings. Your
supervisor is not there to provide a topic, gather material or design methodologies; this
is your responsibility. Essentially, the supervisor acts as a sounding board for YOUR
ideas. The following points should also be noted.
3.1.1 Approval of research topic
On submission of dissertation topics in the first semester students obtain a broad
approval for the scope of their proposed work from the course committee. This
approval indicates that the topic area selected by the student provides scope for an
appropriate piece of research. However, at the very early stage through detailed
discussion with you, the student, the supervisor will provide advice as far as is
reasonable that the project is feasible. In particular, you should consider your topic in
terms of whether it provides an opportunity to conduct research that will draw on a body
6
of literature, establishing a relevant contextual framework and provide the opportunity
to engage in research.
3.1.2 Continuing direction
On an ongoing basis the supervisor acts as an academic soundboard for the student’s
ideas, ensures the overall project is advancing and provides feedback and appropriate
direction to achieve this advance. In particular, at the early stages, the supervisor will
provide comment on draft material to ensure that
i)
ii)
iii)
iv)
the student is using the correct academic style and approach
there exists evidence of rigour, breadth and depth
there is relevance and appropriate referencing
the overall structure of the work is appropriate.
3.1.3 Meeting your supervisor and student progress
Students
must meet their supervisor at weekly intervals and at a regular time. In the
event of failure by the student to meet regularly, or in the event of persistent poor
progress due to failure to meet the supervisor or for any other reason, the matter will be
brought to the attention of their class tutor or programme director.
3.1.4 Supervision in the later stages
Prior to initiating fieldwork or equivalent investigation, students will have completed a
substantial nearfinal draft of the Literature Review. Before embarking on the research,
supervisors and students should have discussed in reasonable detail the research
instrument and other aspects of the methodology. Students must clear with their
7
supervisors whether their research methods and questions are appropriate and
ethical before carrying out any fieldwork. In addition, the framework of analysis and
techniques to be used in analysis should be discussed and agreed.
After the commencement of the research, the supervisor should adopt a more
generalised supervisory role with less detailed comment on draft material. At this
stage, it is not appropriate to engage in very detailed comment on final drafts.
The implementation and analysis of the research and the synthesis and
completion of the dissertation is the students’ sole responsibility.
3.1.5 Assessment of dissertation
The mark awarded is significantly determined by the quality of the analysis and the
integration of the research comment with the literature review and the industry/context.
In addition, the mark awarded is a matter in the first instance for agreement between
the supervisor and the assigned second reader and this mark is to be subsequently
ratified by the examination board. Consequently, it is not appropriate for the supervisor
to give any indication to a student, indirectly or directly, as to a potential mark.
Assignment of readers is a matter for the Programme Director, and such assignment is not
an appropriate topic of discussion by supervisors with students.
3.2
Logbooks
To assist your progress you are required to keep a logbook of all meetings with your
supervisor. You must prepare minutes including action points for the next meeting for
each of the meetings and include these in the logbook. The logbook ensures
a)
A professional approach by the student in relation to their knowledge of the
progress of the work.
b)
That a set of progress targets is continually put in place to ensure the research
is advanced.
c)
A mechanism is in place to identify students who are not advancing
satisfactorily.
8
4.
4.1
Dissertation Syllabus
Introduction
A dissertation of approximately 10,000 – 12,000 words is an integral part of the Degree
Course. It involves a literature review on a particular topic and appropriate research as
well as the presentation and analysis of the findings from that research.
4.2
Relevance for the Management Student
The dissertation challenges the management student to apply concepts, theories and
analytical techniques gained throughout the degree course to the elucidation and
resolution of a particular management or human resource management problem or
issue.
4.3
Aim of the Dissertation
The aim of the dissertation is to enable the student to undertake a learning ‘journey’
which is largely selfdirected and selfmotivated, and which is substantially different to
the pedagogy encountered to date. It allows the student the opportunity to integrate
the various dimensions and domains of knowledge acquired thus far, and so becomes
a capstone subject. It also offers the student the chance to concentrate on and
specialise in a subject discipline and/or sectoral field of management / human resource
management, which may subsequently become a focus of career aspiration. The skills
acquired as part of the dissertation process provide a significant indicator for future
employers of your ability to apply your knowledge skills and abilities to a specific
management problem. It is also an indicator of your ability to work independently on a
finite project. Moreover, the dissertation is one of the key criteria for the entry to a
Masters programme in any discipline.
4.4
Learning Outcomes of the Dissertation
9
Learners will be able upon completion of the dissertation have:
·
Engaged in a ‘journey of exploration’ of a management / human resource
management related issue;
Selected and developed a specific dissertation topic;
Formulated research objectives and/or hypotheses;
Written a focused and critical review of appropriate academic literature;
Reviewed an appropriate industry sector or other relevant contextual issues;
Undertaken primary research;
Considered research findings in the context of the existing literature;
Held regular meetings with a nominated supervisor.
·
·
·
·
·
·
·
4.5
Subject Matter
The design of a study begins with the selection of a topic and a research paradigm.
The paradigm advances assumptions about the market, how scientific enquiry should
be conducted, and what constitutes legitimate problems, solutions, and criteria of
“proof”. As such, paradigms encompass both theory and methods. The student will
make decisions about qualitative and quantitative approaches to the study. These
choices must be justified. Qualitative research is designed to be consistent with the
assumptions of a qualitative paradigm; this research is defined as an enquiry process
of understanding a management problem, based on building a complex, holistic picture,
formed with words, reporting detailed views of informants, and conducted in a natural
setting. Quantitative research, consistent with the quantitative paradigm, is an enquiry
into a management problem, based on testing a theory composed of variables,
measured with numbers, and analysed with statistical procedures, in order to determine
whether the predictive generalisations of the theory hold true.
The subject matter of the dissertation includes:
10
·
·
·
·
·
·
·
A statement of the management problem.
A review of relevant academic management literature.
A qualitative or quantitative paradigm.
Data collection.
Data analysis.
Conclusions to the study.
Recommendations
4.6
Prerequisites and Guidance
Early in the first semester following completion of the dissertation proposal students are
assigned a supervisor to oversee their work on the dissertation (see information on
supervision above). In addition, a mandatory course on research methods throughout
the third year complements the individual supervision. The dissertation report is
completed and submitted by the end of the second semester in the 4th year (see key
dates).
4.7
Assessment
The dissertation will be assessed under the following broad headings (the percentages
shown are merely indicative):
Introduction, Statement of Problem
Literature Review
Research Methods
Data Analysis (Results)
Discussion
Conclusions and Recommendations
Bibliography, Referencing, Structure, Writing Style
Total
5%
20%
15%
15%
25%
10%
10%
100%
Positive assessment also requires a satisfactory relationship with the supervisor.
11
5.
Recommended Reading
Blaikie, N. (2007). Approaches to Social Enquiry (2nd ed.). Cambridge: Polity Press.
Bryman, A., & Bell, E. (2007). Business Research Methods (2nd ed.). Oxford: Oxford
University Press.
Creswell, J. W. (2007). Qualitative Inquiry & Research Design (Second ed.). London:
Sage.
Creswell, J. W. (2009). Research Design (3rd ed.). Thousand Oaks, CA: SAGE
Publications.
Denzin, N. K., & Lincoln, Y. S. (Eds.). (2005). The SAGE Handbook of Qualitative
Research (3rd ed.). Thousand Oaks, CA: Sage.
Miles, M. B., & Huberman, A. M. (1994). Qualitative data analysis: An expanded source
book (2nd ed.). Thousand
Oaks,
CA: SAGE Publications.
Patton, M. Q. (2001). Qualitative evaluation and research methods (3rd ed.). Thousand
Oaks, CA: SAGE Publications.
Silverman, D. (2005). Doing Qualitative Research (Second ed.). London: Sage.
Stake, R. E. (1995). The art of case study research. Thousand Oaks, CA: Sage
Publications.
Yin, R. (2009). Case study research: Design and methods (4th ed.). Thousand Oaks,
CA: SAGE Publications.
6.
Other Resources
The blackboard site for this course furnishes a variety of sources on proposal and
dissertation writing, using word to format a dissertation, referencing, business news,
etc. In addition, the library provides a portal to a host of other resources from books to
access to online databases.
12
7.
7.1
Guidelines and Regulations on Research Dissertations for
Students
Originality
The dissertation must be
·
·
based on the candidate’s own work
not have previously formed a part or whole of a submission for a degree or any
other qualification at IT CARLOW or any other academic institution or
qualifications awarding body.
7.2
Length
While there will be some variation dissertations should be in the region of 10,00012,000 words.
7.3
Submission
A soft copy of your dissertation must be submitted to Turnitin before 5pm on the prescribed submission date.
Students must also be prepared to submit a copy of all articles, newspaper cuttings
etc., referred to in the dissertation in conjunction with questionnaires or any other
information gathering instruments. These copies may be submitted to the supervisor
on request with the name of the supervisor and the student’s own name, clearly
marked, on the covering material of the package.
13
Upon request, copies of articles, referenced in the work, must be submitted in a
separate bundle from other material, and arranged in alphabetical order as per
composite Bibliography if requested.
7.4
Oral Examination
Students may be asked to attend for oral examination on their dissertation. If this is
required, it will be held, in the third term. Students must bring a copy of their
dissertation, original primary research (questionnaires, transcripts of interviews etc)
and any other relevant
material to this examination.
Students in question will be given
one weeks notice by email. Students must bring a copy of their dissertation, original
primary research (questionnaires, transcripts of interviews etc) and any other relevant
material to this examination.
7.5
Presentation and Title Page
The softbound copies should be bound with a black back cover and clear front cover.
The cover page should contain the following information
·
·
·
·
·
·
the title of the dissertation and subtitles if any (15 words maximum)
the initials and name of the candidate
the award for which the dissertation is submitted
the name of the Institute, the Supervisor and the month and year of submission
the year of submission
the course & code
14
Please see the example of a cover page below
15
An Examination of the Concept of … within
Organisations
Dissertation submitted in part fulfilment of the requirement for the
degree of Bachelor of Business
Author:
Supervisor:
Course:
Code:
Josephine A. Soap
Ralf Burbach
Bachelor of Business (Honours) in Management
CW908
Year of Submission: April 2018
Institution:
Institute of Technology Carlow
16
7.6
Printing and Typing
The dissertation shall be printed in black, on one side only of good quality white A4
paper, 80 gram, one and a half spaces, with a left hand margin at the binding edge of
not less than 40mm and all other margins not less than 20mm. The use of colour
should be restricted to graphs and diagrams and only used if it provides greater clarity.
Text should be justified. Line spacing must be 1.5. Use Arial or Times New Roman
font size 12 throughout (expect major headings). Paragraph spacing should be set to 6
point before and after text.
7.7
Pagination
Pages must be numbered consecutively throughout the text, including those pages
incorporating photographs or diagrams, which are included as whole pages. Page
numbering should commence on the title page of Chapter 1. If a title page is used for
Chapters, pagination commences on the title page of Chapter 1.
Photographs and/or diagrams must be appropriately indexed and accompanied by an
explanatory legend. Students should carefully consider whether such supportive
material would be better placed in the appendix.
7.8
Declaration
The dissertation shall have a page containing the following declaration, signed by the
candidate bound into the dissertation immediately following the title page:
17
Work submitted for assessment, which does not include this
declaration, will not be assessed.
DECLARATION
*I declare that all material in this submission e.g. thesis/essay/project/assignment is
entirely my/our own work except where duly acknowledged.
*I have cited the sources of all quotations, paraphrases, summaries of information,
tables, diagrams or other material; including software and other electronic media in
which intellectual property rights may reside.
*I have provided a complete bibliography of all works and sources used in the
preparation of this submission.
*I understand that failure to comply with the Institute’s regulations governing plagiarism
constitutes a serious offence.
18
Student Name: (Printed)
____________________________________________
Student Number(s):
____________________________________________
Signature(s):
____________________________________________
Date:
____________________________________________
Please note:
a)
b)
* Individual declaration is required by each student for joint projects.
Where projects are submitted electronically, students are required to type their name under
signature.
The Institute regulations on plagiarism are set out in Section 10 of Examination and
Assessment Regulations published each year in the Student Handbook.
c)
19
7.9
Acknowledgements
Any acknowledgement of supervisors, industry partners etc. should appear on a page
immediately following the Declaration page.
7.10 Table of Contents
The dissertation shall have a paginated Table of Contents following the
Acknowledgements. This shall be followed by a separate page listing and index of
figures and tables, with their appropriate headings and the corresponding page
numbers.
7.11 Abstract
The dissertation should include an abstract of not more than 300 words. This should
follow the table of contents in the dissertation. The abstract should be typed in single
spacing and should indicate the author and title of the dissertation in the form of a
heading. The abstract gives a concise summary of the contents of the dissertation
including the findings.
7.12 Bibliography
The Bibliography shall appear at the end of the completed work and contain all sources
referenced in the work. These should be listed alphabetically using the Harvard
System, which is outlined in the Course Style Guide.
7.13 Referencing
The sole accepted method of referencing is the Harvard System, which is outlined in
the revised Course Style Guide.
20
7.14 Appendices
Appendices should be named alphabetically, and each appendix paginated
consecutively but separately from the main text and from each other. Material included
in the appendices does not form part of the 10,000 – 12,000 word count.
7.15 Headings and SubHeadings
Chapter or section headings should be in capitals, plain text, centred, numbered and
separated from the body of the text thus:
CHAPTER 1: STRATEGIC MANAGEMENT
The essence of strategic management is …
7.16 Subheadings
Subheadings within a chapter should be lower case, bold text, left aligned, and
separated from the body of the text
as follows:
1.1
The Role of Strategic Management in the Organisation
An organisation’s strategy must be aligned with the firm’s mission and values. It is
instrumental in achieving the organisation’s core objectives. …
7.17 Subsections
These headings are used to indicate further subsections. These headings should be
in lower case, left aligned, bold text and should be contained within the body of the text
as follows:
21
1.1.1 Models of Strategic Management
A number of models of strategic management exist …
22
The Impact of Business Ethics of Competent Leadership on the Small Enterprise Comment by Aisling Gartland: Remove Title
Chapter 2 Literature review Comment by Aisling Gartland: Chapter 2 Literature Review
2.1 Introduction
Definition
of ethical business Comment by Aisling Gartland: 2.2 Definition of Business Ethics
Bartolacci, Caputo, and Soverchia (2020) define ethics as the principles that govern the behaviour of the individual or the way of doing an activity. In fact, ethics are a code of behaviour that demonstrates how a company, group, or individual behaves when there are no legal requirements. Therefore, regardless, of the fact that small enterprises exist to make as much profit as possible, there is a significant need to embrace ethics. Studies regarding business ethics have shown that the ethics of a business is the ethical conduct of the employees and the leadership of this business (Cahyono & Hakim, 2020). The Rresearchers believe that whenever a business is acting “ethically” it means that they have figured out that this type of behaviour will help them, in the long run, to make more money by strengthening the brand and achieve good PR (Cahyono & Hakim, 2020). In this regard, once all of the business employees and shareholders act ethically, they will be able to discuss ethical business (Chazireni, 2019; Mazza & Furlotti, 2019). Moreover, there are certain business practices that are unethical, like charging a 1000% increase from production for profit only. Business ethics are guidelines that most businesses follow that help protect the customers and the company itself from future lawsuits (Del Baldo, 2020). Ethical leadership will protect the business’ private information and not sell it for profit; however, a business must avoid some ethical decisions that come into play when performing recalls on products but are deemed hazardous in nature.
On the other hand, there is an on-going conflict between what customers, a user, and the shareholder want (Hassan et al. 2013). According to the researchers, Research has found that the customer wants the best quality of product or service to be willing to pay. The user (if different from a customer, as in, for example, the reader of a blog that makes money from the advertising customer) wants the best quality of experience to continue to use the company’s products (Hassan et al. 2013; Chazireni, 2019; Mazza & Furlotti, 2019). The shareholder wants to maximize revenues and minimize costs. Moreover, in the tight economic times, the company that has this trinity of personae often has to make a choice between the customer, shareholder, and user – since the shareholder and customer are the ones who pay, the user is often the one whose needs are dropped. Comment by Aisling Gartland: Need reference (source) for this this
Nonetheless, Kesuma et al. (2020) argue that an ethical business practice must be the one that ensures the leaders strive to align the interests of customers, users, and shareholders for the common good of the business. According to the researchers, Aaligning these interests can be done by merging users and customers to ensure the services rendered is to the paying customer, or, in other words, the customer who uses the core offering pays for the offering. By doing this, the company makes money by providing value to the customer, who pays for it (Kesuma et al. 2020; Lin et al. 2020). In fact, a class of counter examples for this are all ad-based businesses where the company has lost or themselves diluted away by ensuring that their users can no longer assign a value to products and services. Comment by Aisling Gartland: Need reference for this
Honesty and integrity are the benchmark of business ethics Comment by Aisling Gartland: 2.3 Honesty and Integrity are the Benchmark of Business Ethics
Manzoor et al. (2019) argue that the growth of both small and big enterprises entirely depends on the satisfaction of employees and customers. The researchers It is believed that operating a small enterprise successfully requires the presence of trust between the business and customers (Manzoor et al. 2019; Mujanah, Ratnawati & Kusmaningtyas, 2019). In the new format, two departments may not be directly connected with each other but as a whole business, they are interconnected where culture starts playing an important part (Suriyankietkaew, 2019). A culture is a habit made by the top people by following a rule and practicing themselves. Hence, we have businesses ranging from those with excellent cultures to those with a very bad one poor cultures existing in the world. A good culture is not a stagnant standard but one changing with time (Szczepańska-Woszczyna & Kurowska-Pysz, 2016). Honesty and integrity have only the potential to sustain growth and provide satisfaction to all internal and external customers. Comment by Aisling Gartland: Need reference for this
Furthermore, Tehseen et al. (2019) believe that a business is long-term commitment binding and can be viewed as a service for humanity even if needs to work with it is profit orientated and so innovation at each step always needs to be evolved within all the departments of operation. However, if and where the linkage of honesty and integrity is weakened the output would show in the quality and spoil the harmony as a whole (Yulinda, Situmorang & Salim, 2018). Contrary, when each section or department or entity works with honest intentintent, they do not work for mere salary but the larger goal for of satisfaction with minimum malice in mind. Such a mind an approach has the ability to crop produce better ideas suited to that particular business at that moment, the ideas can be shared by other members and values from co-workers would also be accepted and with such a culture, everyone wins. Customers get quality products or services, they are satisfied, and do not are not shy in acknowledging other Bartolacci, Caputo, and Soverchia (2020). Moreover, business expands grows vertically with profits where gainer in a company, shareholders, and employee too. People who worked not for mere pay packages also become the beneficiary. In fact, it is the quality alone that is sustainable and needs to be modified or innovated with the change of time. Honesty and integrity are the most potent tools that help human values such as respect and moral work irrespective of any area of operation (Cahyono & Hakim, 2020). These values allow the mind to come up with the best ideas in respective areas helping in modifying and upgrading with the passage of time. Comment by Aisling Gartland: Unclear what you mean?
There are millions of ethical business leaders in the world today. The vast majority work for small family businesses where “doing the right thing” is critical to success and prosperity. In this regard, much fewer work for iconic corporations and brands, as the modern form of the corporation tends to promote those who are arrogant, addictive, and uncaring personality types (Chazireni, 2019; Mazza & Furlotti, 2019). The authors’ research into business ethics is demonstrating clear evidence of these sociopathic character traits in the workplace. However, it is also indicating that many of these leaders are otherwise authentic human beings with real integrity in their personal lives. The biggest challenge small businesses face therefore is how to CTRL-ALT-DEL dysfunctional corporate culture to allow leaders to bring their humanity to work (Chazireni, 2019; Mazza & Furlotti, 2019; Cahyono & Hakim, 2020). The good news is that this is happening right now in at least two global corporations we’re working with. Comment by Aisling Gartland: Very bold statement to make – possibly consider rewording to make the point less insulting?? Comment by Aisling Gartland: Unclear maybe just say remove Comment by Aisling Gartland: Who is we?
An example of a country where ethics has significantly helped small businesses to thrive is Norway. A country where the state Capitalism model is followed and implemented wherein the Government itself invests the people’s savings on their behalf and invests into good businesses so as to generate returns. In this system, the Government itself acts like a huge business entity or a huge corporate entity (Hassan et al. 2013; Chazireni, 2019; Mazza & Furlotti, 2019). They currently have funds upwards of US $ 1 Trillion which are deployed and invested in stakes of various big businesses around the world. Hence, the public, viz. the people of Norway have amazing stakes in some interesting companies around the world. To this effect, Norway has maintained strict business ethics and policy and a clear message that they have not a penny to invest in businesses that harm the wellbeing of the people such as the tobacco Giants and liquor Giants (Suriyankietkaew, 2019). That is what business ethics is all about and entrepreneurs do not simply enter a business just because there is some money to be made, but they must first look at the social implications of the business. Either the business is providing real value and/or wellbeing to society or it is causing it great harm. Comment by Aisling Gartland: Reference
Bartolacci, Caputo, and Soverchia (2020) believe that one of the fundamentals at the workplace is that a litigious culture and a court system sympathetic to the plaintiff ensure that enterprises with larger asset bases cannot readily admit guilt for anything. Publicists, public relations teams, crisis managers and legal teams will also all counsel against admission (Bartolacci, Caputo & Soverchia, 2020). Nonetheless, corporate governance normally ensures that most boards convene exactly these individuals when things go wrong rather than mitigating the issue – blame has first to be established and the BP deep well disaster was a perfect example (Chazireni, 2019; Mazza & Furlotti, 2019). In their investigation, the researchers in their experience relatively found that few business leaders are often indifferent to causing harm but that does not mean they receive unbiased advice. Regulators and lawmakers have created such a complex environment for non-service industries that ‘doing the right thing’ gets lost. Comment by Aisling Gartland: Issues? Need to make this clearer Comment by Aisling Gartland: Write full name – British Petroleum (BP) Comment by Aisling Gartland: What researchers? Use their names rather than saying just the researchers
Ethics and success of a business
Comment by Aisling Gartland: 2.4 Ethics and Success of a Business
According to estimates by the World Economic Forum, companies spend more than $ 1 trillion worldwide on tip payments each year (Mohindra, 2010). In the executive opinion poll conducted annually with more than 12,000 people from 33 countries, corruption appears as a more serious problem than government instability, high inflation, lack of skilled labour, and health. In the researcher’s view, business ethics arise out of and are a reflection of the basic values of the management and culture of the business (Mohindra, 2010; Szczepańska-Woszczyna & Kurowska-Pysz, 2016). In many cases, an examination of the manner in which the business balances the interests of the several constituents of any business: it is employees, owners, customers, and community. One might, for example, consider how the business prices it is products or services: one company might derive its pricing from production costs, adding the expense of materials and labour, plus a reasonable return on the investment of the owners and the taxes imposed for the benefit of the community; another might derive its pricing from an evaluation of supply and demand, adjusting its production volume (and timing) to the level that produced the greatest return to the owners; another might focus its attention on the needs of the customers, adjusting product design and production to maximize customer satisfaction (Kesuma et al. 2020; Lin et al. 2020). Therefore, these are the values, whether or not formally expressed, that influence the day-to-day actions of the various components of the business and their employees that are described as business ethics. Nonetheless, as to how this affects business growth, different people have different opinions. Comment by Aisling Gartland: Again use names or say Research has found that
Yulinda, Situmorang, and Salim (2018) believe that the business that focuses on the present and future needs of their customers and community will tend to experience the most healthy and consistent growth, particularly if ownership is consistent over time. Lacking morals is very different from being less considerate of others and those two are very different from being less ethical. However, a less business savvy person might put everything on the house or at a very deep discount versus a savvy business owner would give little to no discount without sounding rude or less considerate (Hassan et al. 2013; Chazireni, 2019; Mazza & Furlotti, 2019). In fact, shrewdness has gained negative interpretation over the years but what it really means is “having or showing sharp powers of judgment” and that business shrewdness is necessarynecessary, but entrepreneurs ought not to take advantage. Absolutely the dishonest and unethical businesses rarely succeed in the long run. Comment by Aisling Gartland: Consider a different way of phrasing this Comment by Aisling Gartland: Reference definition Comment by Aisling Gartland: Reference
Bartolacci, Caputo, and Soverchia (2020) believe that in business, an entrepreneur’s credibility is vitally important to the growth of the business, and credibility is built over time. A business develops credibility by being honest, working hard, delivering value, keeping promises, and treating everyone well (Bartolacci, Caputo and Soverchia, 2020; Szczepańska-Woszczyna & Kurowska-Pysz, 2016). However, businesses which are unethical, immoral, and dishonest may appear to succeed for a short time, buttime but will always be found out. For example, looking at a company like Enron, or an individual like Bernie Madoff, they made a lot of money, but were found out to be unethical and are now paying the price (Kesuma et al. 2020). Furthermore, over time, people and companies discover who is reliable, honest, hardworking, and law-abiding, but were also on the other hand quickly to learn who is not. The most important thing is that being immoral and dishonest is the quickest way to destroy not only its business but its life as well. Comment by Aisling Gartland: Reference
Cahyono and Hakim (2020) argue that the secret to outcompeting any competitor is to architect design the business in the most honest and accommodating way possible at every aspect of the customer experience. There are varying degrees of honesty, and the authors witnessed many businesses execute firsthandfirst-hand, somewhat dishonest tactics in their approach to win the sale. But as a society and education advances, honest business owners, through advertising, sales calls, the press, word of mouth, reviews, BBB, slowly render the dishonest business obsolete (Bartolacci, Caputo & Soverchia, 2020). The authors argue that perhaps these businesses were rendered obsolete because they were the least important elements of running a business. Comment by Aisling Gartland: Don’t use abbreviations without having firstly use the full words
On the other hand, Mazza and Furlotti (2019) believe the two industries where there is still a fair amount of dishonesty are law and finance. According to the authors, this only means there is a great opportunity for someone honest to go in and reshape the perception of the industries. In fact, sales is the most prominent aspect of any business and to achieve mastery in sales requires realizing that the more helpful and accommodating the business is in solving other people’s problems, the more successful it will be (Yulinda, Situmorang & Salim, 2018). Therefore, a business that learns from its mistakes, and takes the results of learning seriously to increase profits would apparently succeed. The yes-you-did-it and the dopamine you get from reaching getting your target, also money is involved; lesser costs and waste and downtime (Hassan et al. 2013; Chazireni, 2019; Mazza & Furlotti, 2019). Moreover, papering over the cracks will be prevented because there is trust in changing for the better. The future is never a thread. Fear of bad future decreases, which reduces stress in business thus contributing to creativity, so often innovation (and a better position in the changing market). The effort is done for a good future and trust is present, but also for the now-moment.
In order to inculcate ethics and positive culture in employees, several companies now prescribe a dress code for all their staff including female employees (Chazireni, 2019; Mazza & Furlotti, 2019; Cahyono & Hakim, 2020). Moreover, other cultures like Islamic areis also given considerations and the Muslim women employees are allowed to wear their cultural dress code. Nonetheless, in some instances, if they have to wear the uniform, then they have to remove their veils and put the same in the dressing room (Chazireni, 2019; Mazza & Furlotti, 2019). These companies normally introduce this dress code from the level of their senior management to the level of a working employee to treat all of them as equal and to earn a brand name for their products. According to the researchers, whether the decision of the management to insist on their Muslim employees to wear the uniform is ethical or not, other employees are given the democracy to argue either for or against the management’s decision. Finally, Kesuma et al. (2020) argue that employees who cannot grasp the organizational values and who habitually violate these values after being given earnest mentorship and coaching in those values need disciplinary actions. However, ift management fails to make it clear that core value violations will not be tolerated, the organization will end up fostering a culture that is entirely separate from the stated values of the organization. Comment by Aisling Gartland: Reference
Proactive transparency and fairness in all things Comment by Aisling Gartland: 2.5 Proactive Transparency and Fairness in all Things
Mujanah, Ratnawati, and Kusmaningtyas (2019) argue that ethics will also ensure that a small enterprise’s customers must often get what they paid for. According to the researchers, They argure that the business must easily understand what customers buy and what the price will be, and if fees may be incurred, such as when returning a rental late, it should be obvious when fees will be charged and the amount should be related to the actual cost of whatever incurred the fee (Kesuma et al. 2020; Lin et al. 2020). However, in case a company accidentally makes a promise it cannot keep, it should compensate the customer until there is no question the customer is satisfied. Moreover, when a customer’s data is part of the deal, they should be told as clearly as possible what data they are giving up and how it will be used (Kesuma et al. 2020). A customer should only be able to consent to give up their own data, not other customers, although this line is impossible to draw perfectly.
Furthermore, Chazireni (2019) argues that employees must often be treated similarly and paid as agreed to do the work they were told they would be doing. If the company has a bonus target, the average employee should consistently receive the target bonus and employees told the number of hours they will be working (Chazireni, 2019; Mazza & Furlotti, 2019; Cahyono & Hakim, 2020). On the other hand, hiring, firing, and performance reviews also need to be fair. Nonetheless, it is not unethical to charge change an hourly employee’s hours to fit the business need, but it is unethical to mislead them about the expected number and variability of hours. Consequently, companies and their personnel must not pay or accept bribes because that is unethical as well (Manzoor et al. 2019; Mujanah, Ratnawati & Kusmaningtyas, 2019). In the researchers’ opinion, it is not unethical to pay small “facilitating payments” in countries where that is expected, but the US law does ban those and should be obeyed. Comment by Aisling Gartland: Who?
Cahyono and Hakim (2020) argue that it is important for small business enterprises to follow the law. In this regard, in graygrey areas companies should take the most careful position when it comes to safety and deception, but may interpret the laws in their favour in dealings with the government (Bartolacci, Caputo & Soverchia, 2020). Moreover, these businesses must also have a conscience and seek to improve society through their work. However, it is a myth that small enterprises must put profit above all. They must put shareholder interests above all, and shareholders are generally interested in not being evil (Mujanah, Ratnawati & Kusmaningtyas, 2019). Therefore, setting aside virtue and deontological ethics and looking at it from purely the standpoint of consequentialism and the researchers suggest that it is efficient and profitable for a business in the long run.
Moreover, looking at Wal-Mart, Sam Walton believed in treating people, especially his employees, as number one and sales last (Cahyono & Hakim, 2020). In this regard, Wal-Mart got so big; however, after the death of Sam Walton and Wal-Mart decided to make more money by lowering wages and benefits and selling child slaves in another country which did not ogre well with the company. However, in the long term, ethics determine the stability of growth in the economic environment (Chazireni, 2019; Mazza & Furlotti, 2019). Ethical practice is a practice that grows the customer base, creating a more valuable asset to the business by raising the ability of the consumer to consume more profitable goods and services (Mazza & Furlotti, 2019). A small enterprise’s customers are usually customers elsewhere as well and this is why the ethical practice grows employees as well as consumers into more profitable assets who are more productive. Comment by Aisling Gartland: Need to clarify this
Consequently, Mazza and Furlotti (2019) believe that the difference between utilizing natural resources and depleting them is ethics and it is also the difference between empowering people and enslaving them is ethics. Therefore, ethics should be the cornerstone of a business, though it rarely is the case (Kesuma et al. 2020; Lin et al. 2020). Moreover, ethics, today, is often seen as something that should be implemented by some governing body, rather than the company itself, but the problem with ethics is that often adhered to the bare minimum and there are a loophole that are exploited. For example, clothing and fashion companies would never use child labour in the US because it is an unethical thing (Suriyankietkaew, 2019). However, ethics does not just matter in business; it matters in life because how leaders often carry themselves normally is important for the success of the company.
Suriyankietkaew (2019) believes that ethics, as well as money both, are equally important in business. According to the researchers, there are always goals in business, long term goals as well as short term goals. Long-lasting business can be builtd up with great ethics only (Manzoor et al. 2019; Mujanah, Ratnawati & Kusmaningtyas, 2019). Nonetheless, sometimes, people make compromises at certain levels to avoid several hurdles. Consequently, we cannot generalize sometimes, this is the right and may be wrong, but wrong or right decisions are the most crucial and we should not try to justify all time. However, basic ethics should never be compromised in the long- term business development process. Moreover, business ethics is fairness and ethics play a very important role in shaping our future (Chazireni, 2019; Mazza & Furlotti, 2019; Cahyono & Hakim, 2020). Ethics unknowingly teach us some of the essential requirements needed to thrive in the business sector, but rules are laid down for a reason, and one has to adhere to it for the smooth functioning and running of the business.
Cahyono and Hakim (2020) argue that every company has a set of codes of conduct or ethical codes that can have serious consequences if violated. Most people think the term “ethics” refers to morality and that is why it is often important to consider the ethical guidelines as laws rather than suggestions. It is not a driving force, so it depends on the business- person an individual is working with because some are ethical, some are not (Manzoor et al. 2019; Mujanah, Ratnawati & Kusmaningtyas, 2019). There are plenty of ethical businesses that closed shop because they couldn’t close the sale. Similarly, there is probably an equal number of ethical businesses that are thriving and growing. Therefore, such a business can do well and grow and make more money for their owners while creating awesome products for society rather than pissing everyone off losing public trust and going bankrupt or, worse, getting mobbed, boycotted, and having their owners thrown in jail. Comment by Aisling Gartland: Can’t say it like this – use angering the public or something similar
In conclusion, if a business exists in an industry where all participants sell poor quality, medically dangerous products, overwork, underpay and belittle their employees, there is no need to pay their suppliers, causing major environmental damage or deceives its shareholders with false accounting techniques (Yulinda, Situmorang, and Salim (2018). In fact, ethical businesses will not probably lose any customers, employers, suppliers, community support, or shareholders. However, the moment a competitor moves in which is ethical in one or more of these areas and is able to clearly communicate that, then the days of the unethical company are thankfully doomed ((Bartolacci, Caputo & Soverchia, 2020). The view that business ethics is merely a useless “optional extra” is the view of people who either have not been around long enough on this earth or have not thought about it very deeply. The businesses usually exert a great deal of influence within society by the products they sell and by the marketing they produce and by the donations they make ((Szczepańska-Woszczyna & Kurowska-Pysz, 2016)). Nonetheless, if a company knowingly sells a defective product to thousands of people and lives can be lost. Sometimes businesses do a cost-benefit analysis and determine that it will be cheaper to pay out awards in lawsuits than to do a product recall because this is shameful (Bartolacci, Caputo & Soverchia, 2020). Companies that go belly up due to intentional mismanagement in order to profit a few but leave shareholders to lose everything are also shameful and these are just a few examples why ethics should be important to the business. Comment by Aisling Gartland: Need to phrase a different way Comment by Aisling Gartland: 2.6 Conclusion – need to link to what you are doing your research project on
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