EXPLORING BUSINESS ETHICS

Business ethics and Personal ethics are closely related, which can help an individual map the best course of action for most situations. Do no mistake these two types of ethical behaviors as being the same thing, one takes place in a business setting and the other one is relevant to your personal life. Unfortunately, most people make this mistake and end up applying ethics on a personal level to a business setting. In most instances this mistake tends to backfire and the results can ultimately lead a persons character to be question. That’s why not all personal ethics are great for a business; as a result knowing the principles of business ethics and how to apply them to any situation will be the key to your success in any organization.

In an effort to simplify the term “business Ethics” I will provide you with a guide to responsibility. I hope this will explain and describe to you, how to become aware and knowledgeable about this topic.

To be responsible for me means to:

• ·      Be able to entrust and know a persons judgment
• ·      Reliability in someone’s work ability of habits
• ·      Come up with the best response in order to portray the best image
• ·      Protecting what’s most dearest to me
• ·      Acting and behaving as civilized citizen

Responsibility is very similar in a business setting, the only difference is how to put this into practice when you have to take into account a company’s core values and beliefs.

Keep in mind that Organizational Values:

• ·      May not be link to your own values
• ·      Are mostly a reflection to your dependency to:
• o   Income
• o   Fulfillment to Contracts
• o   Products and Services

In many instances all these factors may keep in focus many aspects of responsibility towards the company. Think about the following concepts when applying the different levels of responsibility:

Most important of all is to be able to put all the levels of responsibility into practice. The following diagram will demonstrate, how a surgeon in an academic hospital manages business responsibility. (Fisscher, 2005)

SURGEONS RESPONSIBILITY

Responsibility plays a vital role in Business Ethics and this concept will help you model and interpret your role within any organization your ever a part of.

STAY TUNED FOR WAYS TO AVOID UNETHICAL BEHAVIORS…………..

References

Fisscher, O., & André Nijhof. (2005). Implications of business ethics for quality management. The TQM Magazine, 17(2), 150-160. Retrieved from http://search.proquest.com/docview/227579813?accountid=3455

Dean, P. J. (1997). Examining the profession and the pratice of business ethics. Journal of Business Ethics, 16(15), 1637-1649. Retrieved from http://search.proquest.com/docview/198189120?accountid=3455

DEVELOPING LEGAL STRATEGIES IN A BUSINESS WORLD

“I would like to be free of legal dilemmas and litigations”

“Why can’t all these problems just go away?”

These are statements I faced at one time or another during the course of running my own business venture. Fortunately, I was able to find a great legal counsel, who provided me with tons of legal solutions to many problems facing my business.

During the course of running your own business, you will be faced with many of the same dilemmas that affected my own business. You will encounter some aspect of legality when you're faced with the following:

• Contracts
• Accounts receivable
• Taxes
• Employee rights
• Professional liability
• Leases
• Government regulation

The statement below really puts into perspective for why a legal strategy in a business world is so important:

“The ability to incorporate legal planning into the business planning process allows entrepreneurs to strategically plan their operations to minimize risks arising from legal and regulatory regimes and better protect the assets of the business and entrepreneur.”

Source: International Council for Small Business

Legal counsel is not normally incorporated by a small businesses until it’s actually needed. Based on my past experiences, I sought legal services only as needed. Many businesses also face this same dilemma, whether to have legal counsel on retainer or just when a situation occurs.

Can you think of any experiences that required you to seek the help of a legal counsel?

Were you face with the dilemma of paying or dealing with the situation on your own?

The Journal of Small Business Management, said it best with this statement:

“Conventional wisdom suggests that business owners are hesitant to seek legal assistance for business issues. No doubt the conventional wisdom recognizes that the cost of legal services may deter business owners from seeking such services. . . . The business owners responded they are generally more "willing" than"hesitant" to seek legal assistance. This result implies that the conventional wisdom may not be correct and that a misperception may exist as to overall willingness of business owners in rural small town states to seek legal advice.”

Source: International Council for Small Business

I found it interesting the fact that people are not afraid of seeking counsel because of monetary value. Nowadays, people are coming to the realization that the headaches and endless sleepless nights, outweigh the cost of lawyers. I can discuss this topic for endless hours but first lets look at how to develop a legal strategy in a business setting.

STEPS TO DEVELOP A LEGAL STRATEGY IN A BUSINESS

•    Make a list of key areas that will have a legal impact on you business.
•   The following example illustrates a cluster diagram of a legal strategy



(Glowsky, 2013)

• Conduct legal strategy sessions with your lawyer 
• Continually improve products
• Stay ahead of the competition
• Anticipate future legal issues before decisions are made (can help avoid unnecessary litigation.)
• “Maximizing legal dollars”
• Align every business dollar with a specific legal strategy rather than wait for surprises
• “Client Relationships”
• Create strong bonds with your lawyer.
• Puts into perspective, how the law will have an impact on people and the business
• Helps the business achieve goals effectively and efficiently

I'm amazed of how critical a strategic legal plan is to a business. Knowing this information earlier in my life would’ve help me answer so many questions and avoid constant unnecessary litigation.

What does a development of a legal strategy mean to you?

REFERENCES:

Malach, S., Robinson, P., & Radcliffe, T. (2006). Differentiating legal issues by business type. Journal of Small Business Management, 44(4), 563-576. Retrieved from http://search.proquest.com/docview/220959583?accountid=3455

Glowsky, R. P. (2013, 01 27). legal strategy session. Retrieved 02 04, 2014, from Indigo venture: www.indigoventure.com/strategy/legal-strategy-sessions-2013-01-27.pdf

OVERVIEW OF LEGAL AND ETHICAL RESPONSIBILITY

Legal and Ethical Responsibility is fundamental to the structure of any type of business. It plays a vital role in any organization and its always presented in the following forms:

• Everyday language we use to communicate within a business environment
• Internal memos and communications provided by Human Resources
• Effective coaching and development of employees in an organization.
• Any production or Marketing campaign launch by a business or organization.
• Products and services provided by a company, non-profit or government agency.
• Contracts, patented rights, copyright documents and any other legal document that puts the organization name in jeopardy.

This blog will shed light on the responsibility by any individual working in a business setting, to adapt current legal and ethical views to protect the integrity of any organization.

My goal is to make you aware of why "Adapting to Legal and Ethical Responsibility," is so important. In an effort to make this topic relevant, I will highlight the following topics:

• Creating a legal business Strategy
• Defining Business Ethics
• Signs of bullying in a workplace environment
• Legal Headaches in a business environment
• Legal and Ethical responsibilities in the following business settings:
• Banking
• Retail
• Marketing
• Human Resources
• Entertainment

In an effort to make this blog interactive, I will be Sharing and discussing my personal experiences to open a broad discussion.

What does “Adapting to Legal and Ethical Responsibilities,” mean to you?

Guffey, M. E., Loewy, D., Rhodes, K., & Rogin, P. (2013, 2010). Business Communication: Proccess and Product brief (4th Edition ed.). Toronto: Nelson Education.