Business Ethics: Ethical Issues and Corporate Policies

ETHICAL ISSUES AND CORPORATE POLICIES
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Despite the financial challenges that Techfite Company faces, it has the best ethical corporate policies. Some of these corporate policies are, giving back to the society and ensuring that there is equality among everyone. These policies are rational in such a way that apart from profit making, the company can earn respect and also be accepted all around the world by these practices. Techfite Company gives back to the society by donating funds to programs. They include programs that promote leadership skills among the youth. They also sponsor community events that bring a large impact to the community for example sports event that its aim is to bring the whole community together. In addition to these, they help in the development of infrastructure by investing in the project. Regarding equality, they offer jobs to everyone irrespective of background.
It is always important for any given company to consider several other factors other than aiming for higher profits. Some of the important parts to be addressed include the interests of workers. Without the efforts made by the workers of the company, it can’t enjoy the profits obtained. This is not only affecting Techfite Company but also other firms. Workers should be given incentives instead of leaving the managing executive to enjoy all the benefits without considering the workers interests.
Some of the ethical issues that to consider are the misuse of resources, whistle blowing, and conflict of interest. The top executives of the company are paid exclusive bonuses while the regular employees are forced to work part-time as they cannot be paid full-time benefits. This is due to financial mismanagement. In the conflict of interest, United Kingdom, and the United States have legal and cultural differences concerning hours and benefits. It is because of this reason that there are difficulties in paying employees in these nations. Whistle blowing in this company is seen when the employees go around telling everyone how the company has failed to cater for their needs, some of which include low wages and their benefits.
In term of legal issues, employees are not paid their full-time benefits, yet it is their right. The employees can sue the company for this situation. From this example, ethical and legal issues are completely different as one entails legal rights of members of a company while the other entails acting appropriately, respectively.
An ethical officer creates the code of ethics and makes any amendments if needed. This is important because he or she will be able to assess the company's mission, vision, and goals and also to be able to know if the business complies with these codes. Apart from creating this code, the ethical office...