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Personal Moral Compass & Vision Statement - Essay Example

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Business ethics has become a critical success factor in the business environment of the 21st century. “Business ethics can be defined as the critical, structured examination of how people & institutions should behave in the world of commerce” (Businessethics)…
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Personal Moral Compass & Vision Statement
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Download file to see previous pages Back in the late 1990’s Nike, a corporation that was built on image and marketing to obtain tremendous brand value, lost a lot of customers due a sweetshop scandal. In this paper I will provide an assessment of my capabilities for ethical leadership and vision five years from now. Since a very young age I have always had very high moral standards. I believe it is important to do things the right way. In the marketing profession there are many challenges that a professional may face. There are ethical dilemmas such as choosing whether to target other competitors and aggressively discredit their practices in campaigns even when the claims may be half truths or irrelevant information. I believe do not believe that adverting people should use the competition as a point of basis of a campaign. Advertising should focus on highlighting the strengths of the firm or product. I think advertising campaigns such as the Dunking Donuts campaign that tells people that real friends don’t let their friends drink at Starbucks are unethical. I consider that my capabilities to make decisions using ethical leadership are outstanding. I have always considered the ethical implications my decisions in life and in business. I can improve my ethical understanding by taking structured seminars and continued education courses on the subject. In the past when I have been faced with tough ethical decisions I sometimes communicate the dilemma to friend or colleague in order to gain their opinion and input on the matter. Active listening skills are useful to evaluate the feedback from other people in order to make better informed decisions. Five years from now I plan to be working in a marketing department. At that time I will face ethical challenges on a recurrent basis. I potential challenge that I may face could involved deciding whether to expand the operations of the company into developing countries to raise profits with the consequence being lowering the jobs the firm creates in the United States. The options in this scenario are to expand into one or many foreign countries or to target growth exclusively in the domestic market. My ethical point of view on these types of business international matters is that it is the ethical responsibility of the company is to choose the alternative that maximizes shareholder’s wealth. Patriotism is a nice notion, but in business being close minded doesn’t lookout for the best interest of the firm. A good option to create balance would be to invest in the international option if is more profitable, to then in the future use those profits to diversify your operation and help the US economy by investing in new ventures in the United States. There are other important ethical decisions that I might face in 2016 as a professional in the workplace. A topic that is going to gain greater popularity in marketing circles in 2016 is corporate social responsibility. I have seen companies that are using innovative marketing programs to help out social causes. A few years ago Starbuck Cafe introduced a program that donated 5 cents out of every sale of certain beverages towards supporting AIDS programs in Africa. These types of programs at first glance might be seeing with hesitation by upper management because their perception might be that such a mandatory donation is an added cost that lowers the profitability of a product. Ethical leadership can have tremendous benefits. As a marketing professional it would be my duty to educate management over the value of such a ...Download file to see next pagesRead More
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