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Business Ethical Audit Report: case of Nike - Essay Example

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According to the research findings the companies should adapt such policies and measures which will not only benefit them but will also promote the welfare of all the stakeholders who are related to the activities of the companies in other words ethical practices cannot be compromised for individual gains…
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Business Ethical Audit Report: case of Nike
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Download file to see previous pages The intention of this study is business ethics as the ethical principles that should be maintained by a company. The company has to maintain the work ethics properly. There are some laws and companies are bound to maintain those. The companies have to make sure that no fraudulent is taken place in the organization and the reports (financial and non-financial) should be transparent as these are used by the stakeholders of the company. The company has to make sure that the human resources of the company are maintained effectively and the dignity of the company employees is maintained properly. There are many companies in the world who are not maintaining the ethics properly and as a result they are criticized throughout the world. A company which is not maintaining the business ethics properly they are opposed by the human rights commission or the local political bodies, also the employees get demoralised as they are not treated properly, as well as the operating efficiency of the employees decrease. There are three normative theories that exist currently which focuses on the human life aspects related to the business relationships. Nike Inc is a publicly traded company based in United States. It is the major supplier of apparel and sports shoes, along with this is a large supplier of sports equipment. The company is the market leader of the industry. The company is a fortune 500 company. There are four main subsidiaries of Nike. These are Umbro, Cole Haan, Coverse Inc, Hurley International. There are more than 30000 people are working with Nike at present. The multinational company is doing business in 45 countries and the manufacturing factories are mainly located mainly in Asia (Nike, 2010, p.4-7). In Asia they can get the low cost labours, as a result their operating cost getting lower and they can generate more profit. For the unethical business practices of Nike they are criticised throughout the world. Apart from the criticisms Nike is a company which has competency in innovations. With the innovative process of production, marketing process the company becomes the market leader of the industry in which they operate. 3 Main ethical dilemmas Nike is not maintaining the business ethics in its operations. Nike used to manufacture the products in the third world countries where they can get the low cost labours. They are paying much low wages to the workers than the standard; also they are forcing the labours to work overtime as well as they are employing the child labours. For these unethical practices Nike is facing many lawsuits throughout the world by the Human Rights Commission and other local government bodies. 3.1 External analysis For doing the external analysis of a company PESTLE analysis is an important tool which is widely used by the analysts. The pestle analysis of Nike is as follows Political factors: Nike is a company whose area of business is worldwide. So it has to face different political conditions throughout the world. The main area of operation of Nike is U.S.A. and the euro zone. Inside Euro Zone it is easier for the company to do trade as there is no need to consider the exchange rates as the currency is common there. There are also the pressure groups who are trying to ban the methods of manufacturing Nike use. As Nike is not use effectively the work force of the country so they are facing political pressure throughout the world. Economical Factors: As Nike is the company doing the business worldwide, they have to face different economic conditions throug ...Download file to see next pagesRead More
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