Ethical Business Dealing in Modern Society - Outline Example

Teacher Ethical Policy Paper for UAE World Expo 2020 Summary The following document contains the ethical blue print of the World Expo 2020 that will be held in in UAE. This document contains the policy guidelines of how the various entities of the Expo 2020 should conduct themselves and deal with others before, during and after the Expo 2020. This ethical policy plan policy covers the organizers, participants, vendors/suppliers, business operators during the Expo as well as the general public. ETHICAL POLICY STATEMENT The World Expo 2020 that will be held in UAE dubbed “‘Connecting Minds, Creating the Future’” shall be a beacon of fair and equitable business dealing that will benefit not only UAE but also the world showcasing Emirati business excellence as well as the hospitality of Emiratis and the Arab people in general. Introduction The United Arab Emirates (UAE) will be hosting the Expo 2020 under the theme ‘Connecting Minds, Creating the Future’. The theme ‘Connecting Minds, Creating the Future’ is explicated by Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum that in “"In today’s highly interconnected world, a renewed vision of progress and development based on shared purpose and commitment is key. While a single human mind, an individual country, or a specific community is both unique and remarkable, it is by working collaboratively that we truly advance" in his support for the Dubai holding of Expo in 2020.It is expected that UAE’s staging of the World Expo in 2020 will generate 277,000 new jobs and an additional investment of $40 billion into the economy with an expected increase of visitors of at least 25 million and up to 100 million (expo2020dubai.ae). This is also the first time that the World Expo will be held in the Middle East. RATIONALE FOR ETHICAL PLAN The World Expo that will be host by UAE in 2020 will showcase not only the products and services in the UAE but also the country as a whole. The business and international community will be setting their gaze on the UAE during the World Expo in 2020 and it is imperative that UAE will be at its best to impress the world and put UAE in the map of business and tourism. Central to the Expo is the ethical practice that all participants must adhere to ensure not only the success of the Expo but also the favourable impression on how business in the Emirates are conducted. POLICY PRINCIPLES To ensure the success of UAE’s hosting of World Expo in 2020, excellence in product and service delivery must be accompanied by ethical practice of the highest standard. This means adhering to the principles of equity, fair dealing, forward thinking of mutual benefit, concern for the environment through sustainable business practice and general concern for people involved in a business transaction. To make ethics become an integral part of World Expo 2020 in the UAE, ethics should become part of its strategic plan which is to make “ethics part of the companys mission statement, long-term strategic plan, public pronouncements, and codes of conduct”. This is the only way to make ethics a "cornerstone” of Expo’s dealing either in its business practices or by simply dealing with its visitors. Ethics should be integrated in the core of the strategic plan right at the definition of the most basic question of the business such as “what do we stand for? What is our purpose? What values do we have?” (Schulman, 2012). This ensures that ethics will be carried out in every aspect of transaction during the preparation of the Expo until its conclusion making the Expo successful and reflective of the positive aspect of business dealing in the Gulf Region. POLICY IMPLICATION The players and participants of the World Expo should bear in mind that people trust organizations and people who are ethical. If UAE will have the trust of the world as a result of how the Expo 2020 was hosted, the country will profit in the future because businesspeople would like to deal with UAE businesses. As a result, investment will be flowing in, tourists will flock in drobs that would create jobs and income for Emirati society. Lack of ethics in business dealing and treating visitors have in fact economic cost. We can consider the corporate scandals from Enron to WorldCom that precipitated the global financial crisis, which are now closed due to the sanction of government regulators and public censure. This policy document will serve as a blue print of the conduct that will govern the actions of all players and participants in the Expo that would ensure its success for the benefit of UAE, its citizens as well as its partners abroad. ROLES AND RESPONSIBILITIES The ethical roles and responsibilities of each entity in the World Expo 2020 must be articulated to make it as a basis of guidelines on how should each conduct themselves in the Expo. This will remove the relativity and vagueness of interpreting what is ethical or not in the Expo making it easier to standardized ethical dealing before, during and after the event. The ethical roles and responsibilities of each entity are; Organizers The organizers should adhere to the highest standard of ethics at all times observing ethical dealings to all entities at all point of contact. Organizers will not encourage, tolerate __ any kind of ethical conduct and transaction before, during and after the Dubai Expo 2020. Organizers will review the ethical business guidelines and practice of its participants making sure that their business practice will not negatively affect the World Expo in 2020 Organizers will also review the ethical guidelines of its suppliers, third party vendors and other subcontractors to ensure that ethical business practice will prevail during the Expo. The organizers reserve the right to terminate the contract and/or cease dealings with any parties in the Expo 2020 that will be found guilty of unethical practice. Unethical practices The following are the unethical business practices that would entail cancellation of entry of any participants during the event. Giving and receiving bribes from any party to gain business advantage. Dealing with business entities, vendors, suppliers, contract illegal and inhumane labor, engage in business process that harms the environment Reneging contract related with the World Expo 2020 Not following the guidelines of the regulatory bodies Participants All participants must ensure to deliver exceptional products and services that relate to the World Expo that are produced and delivered through ethical means. Participants who would attempt to give bribe to have a favourable position in the Expo 2020 would mean automatic termination of the privilege to participate in the Expo. Participants who would renege contracts related to the Expo shall be desisted in joining further in the Expo. Participants are encouraged to practice ethical sourcing not to deal with third party suppliers which use counterfeit/fake products, employ inhumanely treated workers and those who have negative business reputation. Business operators during the Expo Business establishments are encouraged to support the Expo 2020 for the visitors have a positive and favourable impression towards UAE. Business operators are therefore enjoined to deal fairly with the visitors and to treat them with courtesy and hospitality which is inherent in the culture of Emiratis. Businesses that would be found to abuse and/or deal unethically with the visitors/tourists through their complaints may have their business licenses suspended or be slapped with steep fines. General public Ultimately, the general public will be the beneficiary of the Expo when UAE gains international recognition for its business and ethical practices. The general public are therefore enjoined to support the Expo by showing our visitors our best part as Emiratis. This could be done by ethical dealing with visitors and participants of the expo to make the event successful. CONCLUSION Practicing ethical business dealing in modern society is not easy. Along with progress is the growing complexity in resolving ethical dilemma in our society today. One of the most unethical practices in our society today that we are often having hard time in deciphering it unethical practice is in the world of business. Businesses commit many unethical practices that sometimes, we accept some of their less than ideal practices because it also benefits us making it difficult to discern as unethical practice. World Expo 2020 in UAE must not be tempted to compromise its ethical standards because it will reflect negatively on it as a country. Unethical practice does not have to rule over business or in any of our business dealings particularly in the World Expo in 2020. Every player and/or participant in the Expo 2020 should ever be mindful that the world is watching at UAE during that time. Whatever blunder, success or any impression whether positive or negative will surely have a long lasting impact to UAE. This impact has an economic cost or benefit which would affect the lives and futures of everyone. Responsible business dealing is possible and even business ethics can be practiced. This should be done and emphasized in the World Expo 2020 through this policy document of business ethics plan. Finocchio, the former CEO and chairman of Informix Corp., expressed how ethics can be concretely integrated into a business practices through its socially responsible acts. He prescribed that “ethics should be part of the companys mission statement, long-term strategic plan, public pronouncements, and codes of conduct”. This is the only way to make ethics a "cornerstone of the organizational culture" by integrating it in the core of the strategic plan right at the definition of the most basic question of the business such as “what do we stand for? What is our purpose? What values do we have?” (Schulman, 2012). It would also help to ground oneself with proper philosophical theories. That is, to subscribe to Kant’s deontology of ethics instead of Mill’s Utilitarianism. Kant’s deontology state that the best way to act is to act with the consideration of the highest good which is acting through the moral determination of will. This could be applied to the World Expo with all the participants and/or player bearing in mind that the reputation and future of UAE is at stake and not only their business interests. It is therefore imperative for the Emirati society that everyone should commit themselves to the highest ethical standard in dealing with anyone during that event so that their actions and dealing will positively reflect on UAE and its economy, its future, culture and as a people in general. Committing to the highest ethical conduct meant that the motivation of an individual’s action must be pursued according to an intrinsic good without any condition. It should be made a duty according to Kant’s deontological ethics as a categorical duty of doing what is good regardless of condition or consequences. Applying this to the World Expo in 2020 at UAE, it meant that company’s should practice responsible business dealings in all aspect. It means not employing sweatshops just to save on cost or to get supply cheaper. It meant setting standard in its labor practice as prescribed by law and humanitarian standard. It also meant being outright and transparent in its business dealings and not to duped or scam visitors even in the smallest way. Visitors should have an impression that Emiratis are honest and ethical people which they are. Business and society is driven by profit motive. It meant that business owners put up their enterprises with the purpose of making money or individuals do certain things for an expectation of returns. Business and individuals therefore when left on its will do whatever it takes to make a profit (Crane and Matten 35). It can only be mitigated by introducing ethics to temper its greed and have a sense of responsibility of which this business ethic plan intends to set its guidelines and help conduct the event in a fair, just, equitable, ethical and professional manner that would set as a standard of ethical practice in the future events in the UAE. Works Cited Crane, Andrew; Matten, Dirk. Business Ethics, 2nd edition, Oxford: Oxford University Press. 2006 Schulman, M. (n.d.). Incorporating Ethics into the Organizations Strategic Plan.Santa Clara University -Welcome. Web Pages. Retrieved June 16, 2014 from http://www.scu.edu/ethics/practicing/focusareas/business/strategic-plan.html Read More