Essentials of Business Ethics Creating Organization

Question: Discuss about the Essentials of Business Ethics for Creating Organization. Answer: Introduction For any new business venture, there are usually challenges to be experienced before the business picks up. However, how an entrepreneur deals with these challenges is what determines if their business will fail or succeed. Every business operation is guided by certain ethical principles. These are what guide the conduct of the people involved in business operation by specifying what is wrong and what is right (Brenkert Beauchamp, 2010). This is a tricky situation because it presents an opportunity for me to momentarily forget about the challenges facing my new business venture and the pressure from parents to get married. It is tricky because the invitations and the merrymaking that comes with it will only make me deviate my attention from the most important thing which is saving my struggling business and focus on less important things like having fun while the challenges I have continue to persist. This may lead to erosion of Integrity ethical principle which requires me to do right even when there is great pressure to do the contrary. This situation poses a threat to independence referred to as conflict of interests. For the young entrepreneur his basic interests at the moment are having fun and visiting places. However for me the main interests are working on my new business venture and making it succeed .Conflict of interest also comes at play regarding my personal and business interests. Personally I would also want to spend time having fun but on the other hand the business requires that I am there to make sure that everything is in order. The guidelines I would use to determine my acceptance or declination for the offer would be the benefits that I was likely to get from the offer. Considering the situation that i would be in, I would need an invitation that would affect my business venture positively either by opening new markets or increasing its capital base to alleviate the current problems. Of the 9 standards of ethical treatment of labor the standard on living wages, humane treatment and working hours were violated. The standards on living wages states that employees shall be paid wages enough to cater for their daily needs while that of working hours states that their working hours shall not be excessive (Collins, 2009). Nike wages are not enough to cater for the workforces food needs leave alone other basic needs .It is also a requirement that employees are treated in a humane manner without being intimidated .In this case however , workers are beaten up , punished unnecessarily and even molested by their supervisors. This scenario could have been caused by managements desire to make as much money for the company .It could also be a s a result of the supervisors desire to safeguard on their salaries by keeping the productivity levels of employees as high as possible. It could also be as a result of unregulated conduct of the people supervising the employees. This means that the people who could hold responsibility for this form of treatment are either the management or the Supervisors A company can prevent this from happening by checking the minimum allowed wages set by law and ensuring that their wages reflect what is specified under the law. They can also encourage dialog between the management and the employees so that employees become free to voice their pay related grievances instead of struggling with their problems. A company should also assess the living standards within the desired countries and use it as a basis of setting salaries for their employees so that they are able to afford basic needs and meet other expenses too. References: Brenkert, G. G., Beauchamp, T. L. (2010). The Oxford handbook of business ethics. Oxford: Oxford University Press. Collins, D. (2009). Essentials of business ethics: Creating an organization of high integrity and superior performance. Hoboken, N.J: John Wiley Sons.