Business Ethics and the Role of the Corporation Essay

Business Ethics and the Role of the Corporation The problem to be investigated is the ethical role that the corporation has when balancing internal strategies with external responsibilities. Dr. Novak explains various responsibilities a business has in his article â€Å"Business Ethics and the Role of the Corporation†. This paper will first discuss why Dr. Novak has two sets of responsibilities in his article on business ethics. Next it will explain what Dr. Novak says about the rule of law and its relationship to business. Finally it will analyze what he means by moral ecology. Why did Novak Have Two Sets of responsibilities for his Definition of Business? The first set of definitions included internal business strategies focused on†¦show more content†¦According to Novak, Social Justice describes a unique balance of â€Å"laws and moral and cultural institutions†. How well a company conforms to activities that benefit these cultural institutions while abiding by the laws of society, and, at the same time, still managing to be profitable, is the key to a successful business. Total Quality Management (2009), Secondary stakeholders are also important because they can take action that can damage or assist the organization. Secondary stakeholders include governments (especially through regulatory agencies), unions, nongovernmental organizations (NGOs), activities, political action groups, and the media. (p. 1) The Rule of Law and its Relationship to Business Novak states in this article, â€Å"exemplify respect for the law. Business cannot survive without the rule of the law. Long term contracts depend on their fulfillment of the law.† (Jennings, 2009) Contracts can be very long and many people do not read these documents verbatim. This is why it is imperative that there are laws that specifically protect individuals and the organizations they represent against fraud and other types of deceit. The purpose of a contract is to force individual parties involved in an agreement to abide by the originalShow MoreRelatedThe Role Of Ethics And Social Responsibility On Developing A Strategic Plan746 Words   |  3 Pages Ethics is the â€Å"consensually accepted standards of behavior for an occupation, trade, or profession† (Wheelen Hunger, 2010, p. G4). Ethics in business involve different standards based on the location and customs. What is ethically acceptable in one environment may not be acceptable in another. Analyzing ethics is essential when developing strategic plans. Some even may argue that there is no such thing as business ethics (Wheelen Hunger, 2010). 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Different Ideologies in Marx and Engels Communist Manifesto

The Communist Manifesto Communism movements were revolutionary or proletarian movements that were inspired by the ideas of Marxism concerning the social inequality that was a major concern in the 19th century. These revolutions aimed at replacing the then dominant capitalist era with socialism. Communism was driven by the ideas of Marx and suggested that the workers of the world were to be united and free themselves from the capitalist oppression, and this was to create a world run by the working class (Marx, Philip and Friedrich, 5). The communist revolution was first documented as a party’s manifesto that was a revolutionary party slogan and had great influence in the world. Both Marx and Engels described the situations of the nature of†¦show more content†¦This revealed the abrasive and unbalanced relationship in the leadership patterns as the capitalist did everything to make sure they dominated the ruling regimes. Conflicts were in every form expressed to be dominant. The communist manifesto revealed one of the major reasons as to why there were a lot of conflicts in the world in the pre-revolutionary times. It gave a bright idea on the cause of historically sensitive conflict scenarios in the past. People struggled to fight back the capitalist who were much stronger for their wealth safeguarded their interests in the capital world. A lot of properties were taken from the people who were the masterminds of their creation and existence. And the only political movement, which came up with an idea on how to abandon the trend and abolish the feudal property ownership, was the communist. They suggested that all property relations in the past have been subjected to great historical change, which was a consequent of the change in the historical condition (Green and Michael, 155). Marx and Engel suggested that there was need to distribute wealth equally as a means of socially empowering the slaves, workers and the peasants who were snatched from (Weeks, 216). As the past history reveals, the labor of the workers was not used to help them improve their social status but rather to theShow MoreRelatedThe Manifesto Of The Communist Party Essay1526 Words   |  7 PagesIntroduction: The Manifesto of the Communist party is a book written in 1847, by a group of radical workers part the â€Å"Communist League.† Including the radical workers, the group comprised of Karl Marx, and Friedrich Engels. They met in London to write a manifesto on their behalf, which would be famously known as the Communist Manifesto. Marx was the principle author, while Engels was mainly focused on editing and assisting. The Communist Manifesto was originally published in London in 1848. 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Benefits and Difficulties of Choosing a Location †Free Samples

Question: Discuss about the Benefits and Difficulties of Choosing a Location. Answer: Introduction: The report discusses about further business expansion in either Northern Ireland or Turkey. There is further discussion about both the countries to understand which country offers the most viable option for expansion. Thus, based on the discussion, one can choose a particular country to understand the benefits and difficulties for further business growth. There is also discussion about the cost incurred for expansion. Northern Ireland vs. Turkey However, if there is a comparison between Northern Ireland and Turkey for further business expansion then Turkey offers long- term scopes compared to Northern Ireland. This is because, Turkey is undergoing major transformation in terms of expanding economy, excellent geographical position, increasing middle class consumers, rapid growing banking sector and an enhanced enthusiasm of the entrepreneurial class. Compared to this, Northern Ireland has been the most disadvantaged region in United Kingdom in terms of attractive growth. The reason is the investors believing in low operational cost and trying to take advantage of the lowest wage rate in spite of the fact of the workforce being highly educated. Benefits of Business Expansion in Turkey: The growing market of Turkey has therefore encouraged more than 1000 American firms to make an entry. The constant movement of the Republic of Turkey towards the membership of European Union has enabled it in the adoption of European business standards and regulations thus providing it with easier means to conduct business (Bu?ra and Sava?kan 2014). There have been reforms that have strengthened and stabilized the economy further and enabled foreign investment. This led to the demand for not only improved capital investments but also new products and services. Turkey also has large number of market opportunities in terms of competitive and qualified labor force, infrastructure, reformist and liberal investment climate and lower incentives and taxes. Moreover, the country is located centrally and caters to a large domestic market. Challenges of Business Expansion in Turkey: However, Turkey also has certain challenges on offer to a business that plans for further expansion. Although business can start in only about six days but what becomes difficult are the procedures followed in order to navigate oversees firm. The companies planning for business expansion made to deposit a certain portion of their capital to Competition Authority account on execution of the articles of association (Alp et al. 2012). Further, there is also the need to file a form of incorporation notice, having a notary certification for the legal books and then do a follow up activity with the tax office on receiving the commercial registry notification. There are however other challenges that can cause hindrance for business expansion. These includes complex bureaucracy, turbulent politics, regional instability , various terms and conditions in the government contracts, market access barriers in certain sectors and week judicial system. Cost: Infrastructure Initiating a business is taking care of various costs related to infrastructure. These include labor cost, equipment cost, taking care of energy and telecommunications infrastructure. One must also consider the cost for transportation. Figure: Labor Cost Source: (Alp et al. 2012) Web Access There are also challenges in getting electrical connection that takes more than 70 days. Therefore, web access becomes a challenging task without electricity. Figure 2: Cost of Electricity Source: (Alp et al. 2012) Education system The cost of the education system depends on the various factors like course chosen, location and the fact whether the university funded by publicly or privately. For graduate programs of Turkish nationals in state university where the medium is Turkish, the cost may vary from100 200 USD and for foreign nationals it is between 300 600 USD. Similarly, the cost in university where the medium is English the Turkish national have to pay 200 300 USD whereas for foreign nationals the range varies from 600 900 USD. The cost for foundation universities ranges from 5.000 20.000 USD Conclusion: The report therefore concludes in the light that though Turkey poses several challenges but it can be a better location in terms of further business opportunities. The benefits that Turkey offers are excessively effective in driving a business ahead. References: Alp, H., Baskaya, Y.S., Kilinc, M. and Yuksel, C., 2012. Stylized facts for business cycles in Turkey. Central Bank of the Republic of Turkey. Working Paper, (12/02). Bu?ra, A. and Sava?kan, O., 2014. New capitalism in Turkey: The relationship between politics, religion and business. Edward Elgar Publishing.