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UNIVERSITY OF FINANCE – MARKETING Subject BUSINESS ETHICS AND SOCIAL RESPONSIBILITY FINAL GROUP ASSIGNMENTS Subject Code 2231910006301 Lecturer Tô Anh Thơ Members’ name Members’ code Huỳnh Hiểu Bội 20[.]
UNIVERSITY OF FINANCE – MARKETING Subject: BUSINESS ETHICS AND SOCIAL RESPONSIBILITY FINAL GROUP ASSIGNMENTS Subject Code: 2231910006301 Lecturer: Tô Anh Thơ Members’ name Members’ code Huỳnh Hiểu Bội 2021001323 Nguyễn Thị Kim Chi 2021001334 Nguyễn Thị Hồng Nhung 2021006373 Table of content Table of content ii Question Question Question Question ii Question Do you agree with the policy? Why or why not? In my opinion, I agree with the company's policy, because every working environment has its own policy and the policy that the company sets is to create fairness and equality for all In business, it is necessary to have a clear public and private discernment, it is impossible for personal gain to contravene your own ethics and the policies that the company has set In case, if Mr Hung knows that the company's policies are such that he still receives them, it will have a negative impact on the image of the company, and if a business does not have a certain policy, the company will not be able to ensure a healthy working environment for all employees of his company For the benefit of everyone and the whole business, even if the gift is expensive, I will not accept it and will also choose words to say no to avoid offending Mr Hung As I know, business ethics is that fairness always comes first, and I also want to keep long-term partnerships with other partners If other partners know that I received the gift from Mr Hung, they will no longer have the confidence to continue cooperating with the company or the other partners all like Mr Hung, the company's policy set at first will no longer work, and from there all employees will also start accepting bribes with the wrong purpose, leading to the development and operation of the company more and more Accepting bribes is essentially misconduct, bribery of power, and violation of law and morality, especially for the person receiving bribes - According to Article 354 of the 2015 Penal Code, amended in 2017, accepting a bribe is the act of a person with a direct or intermediate position, authority to receive with any benefit to himself or herself or to another organizer to or not for the benefit or at the request of the person giving the bribe - According to Article 364 of the 2015 Penal Code, amended in 2017, giving a bribe is the act of a person directly or through an intermediary who has given or will give to a person with a position, or power, or another person or organization with any benefit to the person holding the position, the power to or not to comply with the request of the person giving the bribe In addition, according to Article of the Law on Anti-Corruption 2018, giving and receiving bribes is one of the corrupt acts As a business entity, I know that integrity is a business behavior that is consistent with a genuine business purpose (for my own benefit and the whole community), creating a good character for myself For employees in companies and businesses, integrity helps them to be dedicated, and loyal to the company and business, complete the job well, unite with each other, contribute to sustainable business development, and improve the lives and profits of business owners Sacrificing personal interests to maintain discipline and purity When a person's personal interests collide in any manner with the interests of the business, this is referred to as a “conflict of interest” A conflict situation can arise when an employee takes action or has interests that may make it difficult to perform his or her company work objectively and effectively The receipt of improper personal benefits by an employee or a member of their family (such as personal loans, services, or payment for services that the person is performing in the course of company business) as a result of his or her position in the company or gains personal enrichment through access to confidential information Despite one's best attempts to avoid them, conflicts of interest can occur in many common circumstances Employees are encouraged to seek clarification of and discuss questions about, potential conflicts of interest with someone in the Company’s Legal Department Any employee who becomes aware of a conflict or potential conflict should bring it to the attention of a supervisor, manager, or other appropriate persons within the Company Consequently, in my point of view, I agree with the company policy Question Would it be against corporate policy to accept such a gift? Give your explanation Self-interest is the characteristic that only knows personal interests and wants to take advantage of other people's interests for their own work Another aspect is called selfishness, that is, knowing only oneself and not caring about the interests and pursuits of others Self-interest, in terms of individuals, is that a person only cares about what he or she will gain or lose in life, in relation to people around They often have a psychology of exploration, evaluation, fear, and weighing every glass before considering doing something Since self-interest is the engine of action, it tends to induce bad behavior, which, if perpetuated by the majority of people in a country, makes people in that country worse off should be separated from each other, easily suspicious of each other, jealous, calculating and even doing evil to harm each other If I agree to accept a gift from Mr Hung to my wife, I have already violated the company's policy, and if I refuse to accept it, I will comply with the company's policy I am the manager of a large production company and I think the decision not to accept gifts from Mr Hung was the right decision, both to keep the image of my company and to set an example for other employees My own morals and image cannot be exchanged for a set of jewels, if I were a bad and selfish person, I would not be able to lead and run such a large company, and there is no reason for me to accept my wife's gift, for as a leader, I am not so lacking in conditions that I cannot give my own wife a set of jewelry and agree to receive a gift from Mr Hung Suppose that Mr Hung is a shopper, his actions and thoughts are derived from his own economic interests, both have the mentality of wanting to buy cheap and well served This mentality is no different from the "buy cheap, sell expensive" mentality of entrepreneurs, so it is also necessary to have the orientation of business ethics, avoiding the situation that customers take advantage of the "God" position to infringe on the honor and dignity of entrepreneurs, eroding moral standards The behavior of enterprises not only stops at the proper implementation of legal documents but must aim for a sense of responsibility When accepting the legitimacy of trade secrets, businesses also need to realize that sincerity, uprightness, honesty, keeping promises, and transparency not only contribute to building their reputation and stability, but they also contribute to the ease and efficiency of corporate transactions Thus, the principle of integrity not only ensures businesses to survive and develop sustainably but also contributes to the development of international trade Receiving a gift from a partner is not wrong, because it shows the affection and respect of the giver for the recipient However, in some cases, if the gift is too luxurious and the context of the gift is not suitable for the recipient, I will still refuse in the most delicate way so as not to hurt the partner but still maintain the cooperation between the parties Bribery is essentially a purchase of power, a violation of law and morality, especially on the part of the bribe recipient The recipient of a bribe must definitely be someone who holds power and has "sold" that power for his own illicit gain In essence, this is an act of "exchange" between the two parties interests, based on the theory of reasonable exchange behavior, it is explained that these relationships develop for the purpose of bringing mutual benefits between the two parties The greater the benefit-generating system, the stronger and more frequent the interaction And it becomes the desired expectation from both sides Thus, in the future, they will be repeated into habits, systems, and clear standards that form social patterns, a phenomenon Model of action based on cooperation and exchange This person voluntarily gives something that he thinks may not be needed or is not as important as what he can get in return, and he values what he gives The exchange is more beneficial to the other party than what the other party uses in return The process of conducting exchanges is based on negotiation, agreement, and for mutual benefits, selfish personal interests from both sides But under the multi-dimensional impact when the social network is spread out and covers the individual, it is no longer just an ordinary, public negotiation process between two parties In other words, it is modified and modified or implied by this act of exchange It is the act of giving Tet gifts for the purpose of bribery On the other hand, if the gift is not as valuable as flowers, pens, etc then I think I can take it because it shows the partner's appreciation for me, if I don't receive it, it can cause a lot of satisfaction with the partner So, if the gift is of little value, I'll take it Accordingly, in my point of view, I only agree to accept the gift when our company really has important and special parties, then I am willing to accept the gift given by Mr Hung but on the condition that I will receive it openly and transparently on the presence of everyone in the company, rather than a personal dining session between my wife and Mr Hung Question Put yourself in the position of Mr Hung Is his conduct is unethical? Why or why not? To answer the above question, we share two cases: Case 1: This is an informal dinner party, and the wife is not invited to the champagne reception, nor is she presented with a high-quality diamond-studded piece of gold jewelry This is an understandable and acceptable case because this can be considered as one of the activities to increase the building and bonding of the cooperative relationship between the two parties as a representative of cooperation between the two sides of the company Case 2: A private supper followed by a personal meeting in which the wife participates (Mr Hung invited his wife to open the champagne and presented her with a high-quality diamondstudded gold jewelry set.) This is an unreasonable action because the manager and his wife, meeting privately with Mr Hung, they did not meet as company representatives, but as individuals, not serving the interests of the company but serving personal interests, not based on the interests of the company for the two parties to develop cooperation Inviting a wife to a champagne-opening program at the restaurant will make the wife feel that she is included in the decision-making process That feeling is enhanced when the wife receives a high-quality diamond-studded set of gold jewelry that makes her feel that she is valuable At the same time, giving a gift of high value (diamond-studded set of gold jewelry) is not a matter of being a company partner This can be called “conflicts of interest” When a person's private interests clash in any manner with the interests of the Company, it is said to be in a "conflict of interest." A conflict situation can arise when an employee takes action or has interests that may make it difficult to perform his or her Company work objectively and effectively Conflicts of interest also occur when an employee or a member of their family receives improper personal benefits as a result of their position with the company (such as personal loans, services, or payment for services they provide while conducting company business) or enriches themselves personally through access to sensitive information Despite one's best attempts to avoid them, conflicts of interest can occur in many common circumstances Employees are advised to speak with a member of the company's legal department if they have any questions or concerns regarding potential conflicts of interest Any employee who becomes aware of a conflict or potential conflict should bring it to the attention of a supervisor, manager, or other appropriate persons within the Company This leads to the two expected responses: Reaction 1: The wife will be surprised by the present (She doesn’t expect to receive that high value gift) => There will be many self-questionings appearing in her head (i.e., Why Mr Hung sent me this high-quality diamond-studded gold jewelry set? May I deserve it or not? Could I receive this high value thing? I’m the manager’s wife, so maybe I can accept it, etc This highquality diamond-studded gold jewelry set absolutely suits me, etc.) => Therefore, going through these above thoughts, the wife's person is progressively raised by gradually accepting the present situation through inference, responding to dubious questions based on the desire to own a highvalue gift and feeling self-worth Through her “psychological ownership”, the wife thinks that accepting diamonds is normal for someone as precious as her “Psychological ownership” is that state where an individual feels as though the target of ownership or a piece of that target is ‘theirs’ (i.e., it is MINE!) The construct described by this concept is elaborated, highlighting a number of distinctive characteristics First, the meaning and feeling linked with "MY," "MINE," and "OUR" are examples of how the idea of ownership presents itself What I believe is mine? is answered by psychological ownership and its conceptual foundation is a sense of ownership (Wilpert, 1991) toward a specific object (e.g., one's labor's fruits, toys, one's house, one's land, close friends) Reaction 2: The wife will be surprised by the present (She doesn’t expect to receive that high value gift) => There will be many self-questionings appearing in her head (Why he gave me this high-quality diamond-studded gold jewelry set? Is it okay to receive this kind of gift? Why am I feeling so confused and doubting when I got it? It is unethical if I receive this high-quality diamond-studded gold jewelry set? This action was not normal for my husband and Mr Hung’s current partnership, etc.) => Therefore, going through the questioning questions that she asked herself and reflecting on the situation with the moral perspective she had, the wife feels that she is psychologically forced According to psychology, psychological forces are a group of thoughts, emotions, and behavioral developments leading to maturity As we grow up, we accrue experience, and we understand the world is more complex This force encompasses choices, personality traits, and learning If she chooses to receive diamonds, it means that the cooperation between Mr Hung and his husband is more powerful than Mr Hung If she chooses not to accept the diamond, the cooperation relationship between Mr Hung and her husband will be affected Therefore, these two reactions of the wife will make an effect on the psychology of the manager In conclusion, in my point of view, the act of Mr Hung is unethical because of the reasons above Question Imagine that you are the president and CEO It means that you are both the largest owner and decision-maker for business activities Would it be unethical to accept this gift? Why or why not? It would not be unethical to accept this gift Accepting this gift does not directly affect the interests of the company and my integrity When a person holds a high position in a company, his value and personal image have been raised to a higher level Therefore, receiving a high-value gift does not affect personal moral values Instead of that, this gift represents the wish for a strong cooperative relationship between the company and the supplier Besides, when I hold a high position, there are many factors and aspects that I must concern about to protect the interests and benefits of the company as well as my interests and benefits Hence, receiving the gift will not have a big direct effect on the decision-making process as well as the operation of the company This gift will be an assurance that the supplier will be on the company’s cooperation consideration list If that partner is eligible, a contract will be signed However, only getting gifts from suppliers will create bad rumors, which will negatively impact the company’s image, and personal image as well Because every industry is a small community, information or happenings are exchanged in these communities, also known as word of mouth The power of word-of-mouth may influence many relationships now, and in the future as well Moreover, the company’s reputation could have been influenced by the exaggerated of all media coverage surrounding it since the news has been spread widely in society The purpose of corporate gifts and entertainment is to foster goodwill and productive working relationships between business partners An issue would arise if (1) the receipt of a gift or entertainment by one of the employees would compromise, or could reasonably be viewed as compromising, that person's capacity to make impartial business decisions on behalf of the Company, or (2) the offering of a gift or entertainment by one of the employees seems to be an attempt to obtain business through dishonest means or use dishonest means to gain any special advantage in our business relationships Individual employees are responsible for exercising sound judgment and ensuring that these standards are not broken To prevent this situation, I will organize a solemn thankful ceremony for all suppliers that have partnerships with the company at the end of the year During the ceremony, these attendants will have gifts (medals, short trips, etc.) for a strong, successful connection and to welcome an auspicious year With loyal and long-term suppliers of the company, the company will have policies such as having meals between the two parties to help strengthen and increase cooperation relations, giving gifts on Tet holidays, etc Hence, in my point of view, accepting this gift would not be unethical with the explanation above ... ii Question Do you agree with the policy? Why or why not? In my opinion, I agree with the company''s policy, because every working environment has its own policy and the policy that the company... to receive with any benefit to himself or herself or to another organizer to or not for the benefit or at the request of the person giving the bribe - According to Article 364 of the 2015 Penal... was not normal for my husband and Mr Hung’s current partnership, etc.) => Therefore, going through the questioning questions that she asked herself and reflecting on the situation with the moral