trend selection leadership plays a role in ethical organizations and its members act and perform

It is critical to construct the pillars of an ethical lifestyle, which include values, thoughts, incentives, and standards, to create a positive business culture, increase consumer confi

INTERNATIONAL —) VNU % OMOGHN

ae ake ee — HA NO!

)rsity Hano

FINAL EXAM ASSIGNMENT

Semester I - Academic year 2021-2022

Trend selection: Leadership plays a role in ethical organizations, and its members

act and perform

Subject name: Business Organization and Management, INS2019

Lecturer: Tran Minh Thu

Group members: Bui Thi Ngoc Linh - 18071348

Mai Phuong Anh - 19071106

Vu Thanh Hien - 19071152

Le Thu Phuong - 19071231

January 9, 2022

SUMMARY

No success that comes from the individual, there is no victory over the collective power The success of a business is determined not only by a strong growth plan, but also by a great leader's ethical standards The team leader must be at the core of good cooperation, and all members must be equal to tasks and responsibilities and have a close connection with one another While generating a common voice between superiors and employees, an ethical corporation will likely attract a big number of customers and acquire the trust of investment firms As a result, our selected choice topic is that " leadership plays a role in ethical organization, and its members act and performed" Our study report is broken down into three sections: The first step is to define and comprehend the problem Part one examines and identifies the question, context, and external causes to comprehend the situation Part two will identify factors of direct influence and provide four possibilities that will occur in the future of a corporation based on the research presented in part one Finally, we will assess and debate the situations mentioned in the second half of the third portion in greater depth In addition, the research offers some recommendations and remedies for each potential situation

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IV REFERENCES L2 2221121111211 111 1511221211211 111 11111211112 2111 0111111181111 ng 14

V INDIVIDUAL CONTRIBUTIONS - nh HH HH Hiện 16

I INTRODUCTION

In broad terms, scenario planning involves determining and visualizing probable future conditions or events, their likely consequences or effects, aud how to respond to or benefit

from them The scenario planning framework to the selected trend includes nine phases

such as: Determining the question, Contextualisation, External drivers, Ranking and ranging, Naming and framing, Logic and narrative, Distillation and dialogue, Validation

and refinement, and Interpretation and implementation There are several important

benefits of scenario planning, including thinking creatively and forward-looking, as well

as questioning assumptions about the future, providing an opportunity and framework for people to contribute ideas, and allowing assessment before a situation occurs The trend that our team selected shows leadership is the ability to influence followers to achieve common goals through shared purposes Organizational leaders are accountable to a variety

of stakeholders and stockholders as well as employees to achieve the organization's objectives A variety of things influence how responsibly and ethically they choose to do

so From an ethical and associated effectiveness standpoint, the leader's values matter since they usually become the values of an organization

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II MAIN BODY HEADINGS

1 Determining the question

The people leadership role is the most crucial in the management functions for organizational success A manager is also a leader and someone who runs an organization They know how to anticipate, plan, organize, mobilize members, and control results Therefore, the organization can accomplish its tasks and functions effectively

First of all, organizational ethics comprises a wide range of viewpoints and concepts that determine how people should behave in the workplace It also refers to the code of conduct for individuals operating in a specific company Under no circumstances should statistics

or proprietary information be released It is critical to construct the pillars of an ethical lifestyle, which include values, thoughts, incentives, and standards, to create a positive business culture, increase consumer confidence, minimize financial responsibility, and reduce the energy force of the courts Ethics refers to a company's code of conduct, and it

is how an organization responds to an internal or external stimulus

Secondly, ethical leaders must be genuine and trustworthy Leaders must treat others with respect, treat all stakeholders well concerned, and work towards common interests, community building, and sincerity Equality is also a top goal for ethical leaders, and it should emphasize during the hiring process

Leaders and managers must know how to appreciate others, accept differences, have the ability to create on a solid foundation, have integrated thinking (including the ability to process all kinds of information), have deep expertise in an industry, have social ethics, know how to put the common interest above personal interests Ethical leaders strive to honor and admire individuals in the organization and seek to empower others by focusing

on the proper movement In our perspective, an ethical organization is a network of individuals working collectively in a mutually respectful environment They grow in their opinion, fully experience, and contribute to something out of the ordinary levels and rates

in internal rewards

2

Besides, personal values represent a necessary force in ethical organizational behavior At least three purposes in personal values in organizations: (1) values serve as standards of behavior to define a correct action; (2) values serve as guidelines for decision-making as well as conflict resolution; (3) values serve as a force for employee motivation

2 Contextualisation

Most decisions made by managers or leaders throughout the day are repetitive and do not involve a desire to reflect on the ethics of the situation However, the steps within the decision-making framework must be strictly followed when moral consequences are apparent These types of issues are red-hot and prevalent in nursing administration because they involve far-reaching implications and many remedies on the one hand, and uncertain events and personal impressions on the other The reason is that the actions of nursing leaders have an impact on the bodies of employees, patients, and others When these behaviors have an unequal impact on others or cause them uncontrollable harm, ethical issues arise This issue has three subcategories: ethical uncertainty, moral struggle, and ethical misery

Ethical decision-making comes in different shapes and sizes, but some are all too familiar

in leadership positions For example, developing a framework to support ethical sourcing

is a common situation for companies that have goals such as minimizing their environmental footprint, supporting social justice initiatives, and maintaining their reputation while ensuring that all of their materials, goods, and offerings are responsibly sourced It can be a challenging endeavor to adhere to your ethical ideals and principles while fulfilling the obligations of amanagement position By taking the time to thoroughly study each of these factors in the context of ethical decision-making, you can ensure that you understand the key facts as well as the potential dangers and benefits of the various courses of action Thus, every moral dilemma becomes an opportunity to sharpen your decision-making skills and improve your ability to make correct and effective decisions that impact the growth, health, and overall performance of your agency

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3 External drivers

As more companies realize the benefits of increased ethical behavior and the relationship between business ethics and financial performance, the discipline of business ethics 1s rapidly evolving Improved efficiency in daily operations, higher employee engagement, greater investor willingness to contribute money, greater consumer trust, and satisfaction, and improved financial performance are some of the benefits that result from more ethical and socially responsible business practices

Better

" Financial Customer performance Increased satisfaction

Great willingness Employee

commitment

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Benefits of | efficiency

business ethic

Firstly, Employee engagement is influenced by workers who believe that their future is linked to that of the company and who are willing to make personal sacrifices for the company The greater a company's commitment to its employees, the more likely employees are to commit to the company Besides, employees’ perceptions of their company's ethical environment help improve company performance A company with a strong ethical culture encourages innovation within the group, reduces turnover, and increases employee satisfaction As a result, trusting connections within an organization

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between managers and their subordinates and higher management lead to improved decision-making efficiency

Competitive

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Dison Iegues that foster obligations

an ethical climate

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The absence Social

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Of abusIve behavior

As a result, today's investors are increasingly concerned about the ethics, social responsibility, and reputation of the companies in which they invest Investors know that

an ethical atmosphere provides a foundation for efficiency, productivity, and profitability, while unfavorable publicity, litigation, and undermine consumer loyalty and threaten a company's long-term existence Investors pay attention to earnings or the possibility of higher stock prices or dividends, as well as problems with the company's performance, conduct, and financial reporting Gaining the trust of investors is critical to the financial health of the company

Finally, customer satisfaction is a critical component of any successful business strategy

By focusing on customer satisfaction, a company continually increases the customer's trust

in the company, and as the customer's trust grows, the company acquires better knowledge

of how to serve the customer Successful companies let the consumer have their say, which can engage the customer in collaborative problem-solving

A strong ethical climate in the company often focuses on the basic concept of putting the customer's interests first Ethical customer behavior fosters a strong competitive position that has been shown to improve both business success and product innovation That's why, companies with high levels of honesty and integrity, as rated by their employees, have significantly higher average total shareholder returns than companies with low levels of honesty and integrity Consequently, ethics becomes one of the challenges for managers in search of competitive advantage

4 Ranking and ranging

“+ Surroundings

e Surroundings: The environment will undoubtedly have an instant influence When a financial crisis has a significant influence on a company's daily income and costs, for example, the leader must devise a strategy to stabilize the firm and reduce employee anxiety The surrounding environment, in particular, must be in harmony with society and economic progress without having long-term implications As a result, the company requires a proactive leader who can adapt to changes in the surrounding environment, such as economic developments or financial difficulties, and establish policies and rules that encourage employees to follow them and the company to thrive It 1s necessary to have a good ethical leader for employees to follow because an ethical leader will always have the respect and support of his or her employees when establishing new corporate standards; employees may even provide their opinions on new rules

e Business environment: On the one hand, the business environment encourages enterprise; if enterprises take advantage of the benefits, they will be able to function more efficiently On the other hand, it imposes limits that pose a barrier to the business's development if it does not adapt to the environment This necessitates the presence of both intellectual and ethical leaders in the company Especially ethics, because the leader plays a critical role in the organization's ethics Employees' morals, gestures, and behaviors will be influenced by the boss's ethics When the company environment evolves, a leader with high ethics will be continually conscious of their duties and

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responsibilities and will actively adjust to the changes in the environment, earning the respect of employees and motivating them to learn from them This improves the company's capacity to respond quickly to changes in the business environment and to expand in the future

Society: Furthermore, sociocultural influences are linked, yet their form of impact may differ In reality, people do constantly live in a distinct cultural setting, and the uniqueness of each group of people moves in one of two directions: preserving the national cultural essence or integrating with other civilizations A leader must be able to grasp both of these tendencies to provide a solution that accurately reflects the psychology and emotions of each employee from various locations As a result, the gap between leaders and workers narrowed, the working atmosphere became more pleasant, and employees were more willing to share their thoughts and contribute to the company's growth with the leader

Impact factors such as the environment, business environment, or culture impact direct the company Therefore, the company requires a leader who can solve problems, make plans, establish reasonable and usable rules, understand employee psychology, and, most importantly, have good ethics to staffrespect and learn from the leader

5 Identifying and framing

Our team recommends the following four possibilities based on the above impacts:

To address the company's severe dilemma, the board of directors will meet in January to explore issuing a new regulation that has never been implemented before and requests that the employees follow suit There will be four cases as a result of the events described above:

(A: 1s a boss)

Case |: The leader is a forerunner, having implemented the norm first

Case 2: The leader does not do it, but employees have to do itt

Case 3: Employees are protesting, so they should be disciplined by the leader