Q1. A mid-sized company that produces consumer goods is facing issues related to unethical behavior among its employees. There have been several cases of bribery, corruption, and environmental violations. The company’s management team wants to establish and promote a sustainable ethical culture to prevent these issues from recurring and to improve the company’s reputation. “What specific strategies and actions can an organization implement using the 7S model to establish and promote a sustainable ethical culture, and how can the effectiveness of these initiatives be measured?”
Ans :
Introduction:
Unethical behavior among employees can damage the reputation and sustainability of an organization. Therefore, establishing a sustainable, ethical culture in the workplace is essential. The 7S model can create a framework for promoting and sustaining an ethical culture in the organization.
Concepts and Applications:
In today’s global market, many organizations are facing issues related to unethical behavior among their employees. It can result in a decline in the company’s reputation, loss of customer trust, and even legal issues. A mid-sized company that produces consumer goods is facing similar issues. The management team wants to establish and promote a sustainable, ethical culture to prevent such issues from recurring.
The 7S model is a management framework that provides a holistic approach to improving organizational effectiveness. It comprises seven interdependent elements: strategy, structure, systems, style, staff, skills, and shared values. These elements are interconnected and influence one another. The model provides a roadmap for aligning these elements to effectively achieve the organization’s goals.
Conclusion:
Establishing and promoting a sustainable, ethical culture in the workplace is essential to prevent unethical behavior and improve the reputation and sustainability of an organization. The 7S model provides a framework for aligning the elements of an organization to achieve its goals effectively.
Q2. Sara is a financial advisor at a reputable firm. She has a client named John who is interested in investing his money in a certain company that Sara knows has a high potential for growth. However, Sara also has personal investments in that company and stands to gain financially if John invests. How might Sara’s conflict of interest impact her ability to promote John’s well-being in accordance with the PERMA model? (10 Marks)
Ans :
Introduction:
John is a client of Sara, a financial adviser who has expressed interest in investing in a particular company. Sara is aware that this particular business has a significant capacity for expansion. However, Sara has personal investments in that business and can gain financially if John also invests.
Concepts and the Applications:
The PERMA model is a framework for understanding and supporting human well-being that can be found in many different fields. The letters in the acronym represent Positive emotion, Engagement, Relationships, and Meaning and Accomplishment. According to this model, people who are more likely to experience general well-being are those who have positive feelings, participate in meaningful and satisfying activities, and have strong relationships with others.
Conclusion:
In conclusion, for a financial advisor to effectively support the well-being of their clients following the PERMA model, the advisor should avoid conflicts of interest whenever possible.
Q3 a) You are a senior executive at a large corporation that has been struggling financially due to the COVID-19 pandemic. Your boss approaches you with a proposal: if you falsify the company’s financial statements to make it look like they are performing better than they actually are, you will receive a significant bonus and your job will be secure. What do you do? Discuss this answer on the basis of the Ethical temptation (The business ethics trade off framework can be considered. (5 Marks)
Ans :
Introduction:
Business ethics are essential for maintaining the trust and integrity of an organization. However, ethical dilemmas may arise in certain situations, making it challenging to make the right decision.
Concepts and Applications:
The business ethics trade-off framework suggests that ethical dilemmas arise due to stakeholders competing interests. In this case, the senior executive is tempted to falsify financial statements to artificially improve the company’s performance, leading to a significant bonus and job security. However, this decision is unethical and can severely affect the organization, its stakeholders, and society.
Conclusion:
In conclusion, the ethical temptation faced by a senior executive to falsify financial statements for personal gains is a serious ethical dilemma that requires careful consideration.
3b) You are a marketing manager for a well-known beauty brand that is launching a new line of skincare products. You have been instructed by your boss to use before-and-after photos that are not an accurate representation of the results the product actually delivers. Additionally, your boss wants to pay social media influencers to endorse the products without disclosing that they are being paid to do so. What unfair business practices are being used in this scenario? Discuss in detail (5 Marks)
Ans :
Introduction:
Misleading consumers through deceptive advertising is not a new practice in the beauty industry. Consumers purchase beauty products hoping to improve their skin, hair, or overall appearance, and they rely on the brand’s claims to make informed decisions.
Concepts and Applications:
Unfair business practices in the beauty industry:
False advertising: Using false or misleading statements in advertising to promote a product or service. This includes using before-and-after photos that are not an accurate representation of the product’s results. In this scenario, the beauty brand’s marketing manager is instructed to use before-and-after photos that do not accurately represent the results the product delivers.
Conclusion:
Unfair business practices in the beauty industry can severely affect consumers, brands, and the industry. In this scenario, the beauty brand’s marketing manager faces a difficult decision: to follow their boss’s instructions and engage in deceptive practices or to refuse and potentially.
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