IS IT A PROBLEM OR AN OPPORTUNITY!!
Around the globe in any sort of business, what is must is that how a person or that company is working. In any business, the most important thing is to follow some “rules” or “guidelines” which are must, which we generally call as “Business Ethics”. (Rutledge, 2017)
In this writing, some important ethics, which are very important not just for the company/enterprise, named Rajwant Engineering Pvt. Ltd. (REPL) but also for H.S. Sokhi who is the whole and sole of the company (Crane & Matten, 2016). His business sense as an owner does not allow him to do any sort of unethical thing which might be beneficial for the present/current scenario but can also damage or degrade the business or company’s name in coming future which is the most important symptom of the problem of the whole writing.
IS IT A PROBLEM OR AN OPPORTUNITY!!
There are two styles of working either moral way or immoral way and what an individual decides to do for the whole organization define his “Morality” or “Ethics”. Here in this report, the situation of REPL is in such dilemma that Sokhi cannot decide whether to go up front and deal the situation or to work unethically against the Sokhi’s own morals which are again will be like going against the proposition of REPL.
In the current scenario, REPL has a client who is having 35% share in revenue’s named ClientCo (Berger, 2013) it is new procurement manager Mr. R.K. Gupta asked for a bribe for giving a contract which would have given around ?5 million additional profits. Sokhi drafted a letter to ClientCo in a rage of anger asking to terminate all the contracts but what stopped him was a personal call from home and Mr. Sokhi faced this situation for the 1st time that is against his will and also not according to his prudent nature. Correct way will be to deny the work which is against his will and moral values (Singh & Sharma, 2013). Hence, like every coin has two sides, same in this situation it can be considered as both threat and an Opportunity.
PROBLEM ANALYSIS
As an owner in such good reputed company, Sokhi does not want to ruin its position or name in the market at any cost but what if it is an opportunity to earn such good amount for the company (Wraight, 2011a). Business ethics and corporate social responsibility play a very important role in a company but there are advantages if one Sokhi decides to go against his will and they are:
PROBLEM ANALYSIS
In the present scene REPL and Sokhi is well aware of all the pros and cons of the business tactics that “Success does not come to you, you go to it” – by Marva Collins. Likewise, his client too thought of the same thing but REPL thought that the path through which the client wanted the success was not appropriate and legal as well. If one wants a temporary profit which will not last for long can opt for the wrong but if a future threat is to be avoided then he must follow his conscious else this will eventually turn up to decrease in client’s as well as employees trust along with the company’s biggest asset that is “Reputation” (De George, 2011).
For example- if a cold beverage company claims that no preservatives are added to this drink and later on to enhance the taste of the drink they do the same and somehow this comes out in public then this will degrade the customers and their trust, which will lead to the downfall of shares and company’s goodwill. Thus, the best solution is to go with the conscious i.e. work ethically, though hard but better than a shortcut.
The achievements of having clients like the tinplate Co., Voltas Ltd., Usha Martin Industries, Bharat Aluminum Company Ltd. Etc. The employees are always rewarded for all the hard work and overtime they did for the company. Sokhi always doubted that starting in a place like Jamshedpur was a big mistake, because of the dependency on at least 2-3 important clients, plus the competition was increasing day by day. Although the company earned well the revenue generation has been becoming difficult/harder.
|
Alternative 1 Go with ethics. |
Alternative 2 Against the ethics |
Alternative 3 Can talk and alter the miscommunication gap. |
Alternative 4 Or can be a Whistle- Blower. |
|
Pros: Stress-free mind set and inner-satisfaction. The Good will of the company will not be on stakes. |
Pros: More profit less debt. Maintain harmony between the REPL and ClientCo. |
Pros: Sokhi can talk and discuss about whole scene and there might be a possibility that Mr. Gupta will understand by looking at the past relations. |
Pros: This will enhance the company’s reputation. Employees and customers trust will be maintained and hence, future profits.. |
|
Cons: Leads to bankruptcy and insolvency. Clients will break up. All the year’s hard work will be a complete waste. |
Cons: If it is a lie then it will come out one or the other day. Fear of getting exposed. Goodwill and trust will be damaged. |
Cons: He might get irritated and straight away passes the contract. Or can manipulate the company against REPL for future collaborations. |
Cons: The outside sources can manipulate the whole matter that because REPL is not getting the contract Mr. Sokhi is doing all this to gain public sympathy. |
Accordingly, in a generic view, the best- recommended action would be-
- To go as per the ethics and principles on and by which REPL has worked and actually known for.
- And therefore, the best alternative is the alternative-1 mentioned above. Not concerning much about the cons mentioned.
- A man’s integrity and self-respect is the most valuable aspect hence needs to be protected.
|
Action and implementation plan: |
|
|
Immediate actions to be taken: |
Talk about the whole matter with Mr. Gupta to sort everything in detail. Also, make him understand the company’s policy and strategies. |
|
Short duration action: |
And promise to make sure that the profits will be divided in a precise manner and the material supplied will be of best quality ever. |
Conclusion
Hence, it can be concluded that Sokhi is doing the right thing which is completely in favor of the company and as per his moral and business ethics. Working as per the company ethics and rules followed from decades not only ensure the employees trust in the firm but also attracts the stakeholders to buy more shares of having goodwill in the market (wraight, 2011b)
Now, it the duty of Mr. Sokhi to make sure that nothing can be done in order to gain temporary profit along with big future legal crisis coming up compromising on ethics as well and not following the trend of “ Go with the flow” as because only a dead fish go with the flow.
References
Beedy, L. N. & Esquith, S. L. (2014). Development ethics and evolving methods: a comparison of fair trade with the Millennium Villages Project. Journal of Global Ethics.10(1). Retrieved from: https://www.tandfonline.com/doi/abs/10.1080/17449626.2014.895407
Berger, R. (2013). The evolution of business ethics in India. 41(11). Retrieved from: https://www.emeraldinsight.com/doi/abs/10.1108/IJSE-05-2013-0129?mobileUi=0&journalCode=ijse
Crane, A., & Matten, D. (2016). Business ethics: Managing corporate citizenship and sustainability in the age of globalization. Oxford University Press.
De George, R. T. (2011). Business ethics (7th ed.). Pearson Education India.
Hill, C. W., & Hernández-Requejo, W. (2008). Global business today. New York: McGraw-Hill Irwin.
Penz, P., Drydyk, J., & Bose, P. S. (2011). Displacement by development: ethics, rights and responsibilities. Cambridge University Press.
Rutledge, B. (2017). Delivering the Sustainable Development Goals through ethical trade. Retrieved from:https://www.ethicaltrade.org/blog/delivering-sustainable-development-goals-through-ethical-trade
Singh, R. & Sharma, P. (2013). India lacks business ethics. Retrieved from: https://www.thehindubusinessline.com/opinion/India-lacks-business-ethics/article20655619.ece
Wraight, C. D. (2011a). The Ethics of Trade and Aid: Development, Charity or Waste? Retrieved from: https://www.bloomsbury.com/us/the-ethics-of-trade-and-aid-9781441109514/
Wraight, C. D. (2011b). The Ethics of Trade and Aid: Development, Charity or Waste? Retrieved from: https://ndpr.nd.edu/news/the-ethics-of-trade-and-aid-development-charity-or-waste/
Order an Essay Now & Get These Features For Free:
Turnitin Report
Formatting
Title Page
Citation
Outline
