Question 1
In the context of the business project listed, ethical practices are the attitudes and actions of a business entity that are considered as morally and professionally responsible.
Question 2
The key ethical issues that may arise during the progress of the project are:
- Selling of lollipops in an unhealthy environment, i.e. the bathroom facilities of a nightclub.
- Selling cake pops on campus to evade adherence to formal health and safety restrictions.
- Setting the product price to high to achieve abnormal profits, i.e. a 300% profit margin.
- Sourcing drinks for the British Culture based event from local donors only to sell them.
- Targeting student business societies to generate business ideas. This is considered IP (Intellectual Property) Theft.
- Charging players to play a football game instead of paying players to play, is morally backward since the proceeds go to a profit making entity.
Question 3
- Officially obtaining permissions from the nightclub owners to obtain exclusive rights to sell pin pops at the club’s drinks counter at an agreed percentage cut for the club owner, preferably not more than 20%. This would ensure the ethical approach to sales and marketing techniques within the legal parameters of business.
- Obtaining an official permit from the campus administration to make and sell cake pops to students after passing the required health and safety regulations that the management would impose. This means the business would be operating with the law.
- Recognizing the value of intellectual property and rewarding it accordingly. For example, through partnership with individuals with the most viable ideas.
Question 4
In the event of the occurrence of unethical business practice within our group, or any other group involved in this module. We would take the following steps to correct it:
- Approach the concerned party involved in the unethical practice.
- Calmly and confront the person, using valid,reasonable argument backed by legal documentation or appropriate citations of a legal document pertaining to the particular malpractice. The arguments would be founded on convincing the concerned party to think out the situation in an ethical manner.
- Should the party be defiant, approach the relevant authority, in this case, the instructor of the module and make appropriate consultations and make an official report of the case.
WORKS CITED
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TREVIÑO, L. K., & NELSON, K. A. (2011). Managing business ethics: straight talk about how to do it right. New York, John Wiley.
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