I will provide two discussion posts submitted by other students. You will need to respond to each one with approx 150 words each and 2 sources each. Within your response, you could state why you agree/disagree with their post or maybe add some important information about the topic that you believe they forgot to mention.
A good company operates ethically in all areas to the best of their ability. They would be environmentally friendly, support the community that they operate in and cultivate a workplace culture that is inviting to all employees. A good company will inspire a positive culture, employees will feel motivated and proud of the work they are doing (Morley, 2019). They tend to their stakeholders and are proactive to their needs, within the bounds of ethical practices. This is important for the business because the more stakeholders that hold a positive view the better business will be.
A bad company is one that prioritizes profit over all else, violating ethical and moral grounds to accomplish this. For example, a company who utilizes loopholes in environmental protection laws to dispose of waste more cost effectively. This damages the environment so that the business can earn more. Or a business who outsources their labor to a location who does not adhere to labor laws. Causing their production laborers to work in poor conditions for little to no money.
A business must operate within the bounds of ethical business practices to maintain success. Bad ethical practices damage public image and reputation, making stakeholders not want to be involved with that business, which in turn damages business.
Post two:
I think that their are several things that can determine if a company is categorized as a good company or a bad company. One of the first ways in my opinion is to determine what the company is known for. Is their a negative history behind the brand of the company? Another way for a business to labeled as a good company or a bad company is the leadership that runs the company. According to an article that has been posted by Western Governors University, they describe that business leaders need to ensure that their company has an established itself with "high morals, principles, conducct, and ethics" (WGU. 2021). This leads to my next point, if you are unable to establish those high morals and principles, your employees will not be loyal. In fact, a survey was given in 2007, and 82% said that they would prefer to be paid less just so that they can work for a company that has ethical practices. With that being said, if you business is having some sort of shady business transactions, and your employees find out about it, most likely theyt will move on to another company. My last point that I wanted to bring up is that anything that may be deemed as unethical can really hurt the overall appearance of the company. For example, in September of 2017, Equifax announced that they have suffered through a massive data breach of over 147 million people. However, that is not the what made such a big deal about it. It has been reported that Equifax waited two who months prior to notifying its customers. Now, how unresponsible and unethical is that? Personal information has been stolen, and they choose to wait two months before they even consider to report it?
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