Management and Importance of Business Ethics (Essay Sample)

MANAGEMENT AND BUSINESS ETHICS
NAME OF STUDENT
UNIVERSITY AFFILIATION
NAME OF COURSE
NAME OF PROFESSOR
Introduction.
This paper is a general written report of the research conducted on the actions, professed practices, management standards, published information and the general products or goods and the services of Monsanto, which is a publically traded American multinational agrochemical and also an agricultural biotechnology. It is well known for leading production of the genetically engineered seed and quality herbicides due to these good quality products it is manuputed by the following key values. Business ethics, the good interaction between the company and its stakeholders, its social responsibilities, implementation of the shareholders and their issues, important values for identifying ethical issues, the types of the observed misconduct in business, core practices, the shareholders and the gatekeepers, federal sentencing guidelines for the organization. High appropriate core practices, normative consideration in the decision making of the corporate strategies and lastly the application of one or more of the philosophies used in business decisions. The above key values are discussed in the paper in order to give detailed report of the Monsanto Company.
Importance of business ethics
Business ethics in general refers to the form of professional ethics which usually examines ethical principles and also the moral problems which may arise I a business environment. In other words it refers to the contemporary standards or the sets of values that usually govern the individuals who are part of any organization.
In the Monsanto Company applies the all business ethics which benefits and favors the stakeholders. It contribute differently on the different stakeholders, the commitment employees are rewarded at every end of the financial year through the prize giving’s the company organizes at every financial year end. The company also offers commissions to the employees who sell their products above the stated amount this usually motivates these employees and they feel more appreciated. It also contributes positively to the investor loyalty this is done through sharing share to the investors equally and according to the investment, equality is one of the ethics the company applies. In the focus of satisfying the customers the company accomplishes the following key factors concerning the customers’ needs and desire. Their prices are standard to the market price they do not raise their prices leading to exploiting the customers. Their products are of high quality and are sold due time to avoid selling expired products to the customers and through this the company satisfies the customer’s needs. The company’s profits are usually shared to the stakeholders and they are still recorded truly in their books of accounts and through this it shows the transparency in the business environment.
The company’s interaction with its stakeholders.
Stakeholders refers to a group, organization, a member or system that usually affect or can be affected in one way or the other by the actions which are taken by the organization. The Monsanto stakeholders include the following its employees, the customers, the investors, suppliers, community, the environment groups, competitors and many others those can affect or be affected by the company’s actions. The company creates a good interaction with each of the stakeholder, the company sets a specific time which its employees are supposed to report to work and if they late they are usually paid overtime salary, if any of the work gets injuries while at work his or her medication is catered for by the company. The company usually creates good relation with its customers by treating them good and also offering some after sells services and selling its products at a standard price which everyone can afford by dividing the quantity of its products in to smaller amount hence allowing every customer to access its products min the market. The company usually organizes some investments meetings where it meets with investors and shares on the progress of the company on if it is making profits or not. And encouraging the investors to invest more on their company. Suppliers are the key stakeholders of the company, they provide the raw materials to the company at a discount and also at some time on credits this helps its operation to be smooth. The company interacts positively with the community by not making a lot of noise while they are operating and also disposing their waste in the right place. The environment groups usually create a good relation with the company since it usually observes its waste products and disposes it to the right places and this helps not polluting the environments. The company usually pays its legal fee in advance hence its interaction with the government agencies it’s good. The company has learned the market hence it knows the gap in the market, which is an advantage over its competitors is also produces quality products which creates a margin with its competitors. The company’s works greatly on interacting with the shareholders where it organizes meetings with the shareholders where it discusses to agreement on the shares sharing.
Steps of social responsibilities.
The company usually takes the responsibility of maintaining its economic status not to fall. It also operates on the legal matters and it is allowed by the government to operate by use of certification. The ethical issues are considered I n the company since it allows no room for the exploitation of any of its members and also no pollution of the environment. The company has been out to the community where it usually participate in the fund raising and also general helping the needy in the community. This in general is philanthropy.
Implementing a stakeholder perspective.
Implementing a stakeholder perspective is a process which involves six important steps. The company in its aim to implement the stakeholder’s perspective it’s closely followed the six key steps. First assessing the corporate culture, in order to set the company where there is market of its products the company first studied more about the culture of the community where it went on in majoring in the agricultural products. Secondly, the company identified its stakeholders through this it helped it to create good relation with all the stakeholders. Identifying the stakeholder’s issues these are the problems the stakeholders are facing and trying to solve them. The company assessed its organizational commitment towards the social responsibility by focusing on the company’s economic status its legality and lastly the ethical issues. It generally identifies the resources and keenly determining the resources urgency in the relevant market. The company has been in the effort of listening more to its stakeholders and reacting to their complains positively and this has strengthen its relation with the stakeholders in the past period of time.
Shareholder issues.
Shareholder refers to any person, company, or any institution that own at least one share of the company’s stock. Hence they are also referred to as the company’s owners. The shareholders issues refers to the things that the company should take in consideration when dealing with the shareholders these include core values these are the values the shareholder need their company be associated with. The company is usually determined to win always, it is always focused on innovation. The company always listens to the customers more and it has been more on the continuous improvement. The company has been allowing the shareholders to participate in the election of directors and this has been more helpful since shareholders elect their best direct to manage their shares. The company usually compensates its executive with respect to the risk occurrence. The company usually applies integrity while collecting and analyzin