What is conscious capitalism?
Conscious capitalism refers to the amalgamation of awareness and capitalism in business. In this case, the practice of business focuses on more than money.
Based on the four principles of value-based business, does the company you identified fit the definition?
The Coca-Cola Company has embraced evolutionary development as a reaction to individualistic and collective appreciation to the power of capitalism. This has enhanced its survival, propagation, as well as flourishing abilities. The company works at empowering the females who own businesses around the planet. This is done with a bid to partnering with smaller enterprises. Moreover, the company works at boosting and balancing growth with the sole objective of reducing its carbon footprint. The company has a purpose to utilize the amazing resources as well as the proceeds from the capitals.
The individual and administrative factors affect ethical practices in an organization. According to Pride, Hughes and Kapoor (2014) the individual factors refers to the levels of knowledge, personal goals, attitudes, and moral values. The levels of morale, honesty, integrity, and loyalty among the stakeholders determine the code of ethics to be adopted. These are critical in guiding individual and organizational behaviors.
How do individual and organizational factors impact ethical practices within an organization?
Ferrel and Fraedrich (2014) cited that both the individual and organizational ethics impact the employee’s ethical intention. The ability and competence in meeting the set standards in the quality of work enhance the quality of goods and products. The levels of productivity boost the efficiency within the organization. Moreover, the organizational factors facilitate the application of ethical philosophies in the issues that the organization faces.
What do you think makes a values-based leader?
Johnson (2012) cited that values are the foundation of leadership. A values-based leader reflects on the performance and strives at creating self-awareness. This goes a long way in balancing multiple perspectives. This helps in a fuller understanding that facilitates self-confidence. This helps in recognizing personal strengths and weaknesses. Millard and Cebula (2013) argued that genuine humility is important in career advancement. This is because it helps in valuing the persons we meet at work and treating persons respectfully.
Ferrel, O. & Fraedrich, J. (2014). Business Ethics: Ethical Decision Making & Cases. Cengage Learning Publishers.
Johnson, H. H. (2012). Becoming a values-based leader. Charlotte, NC, Information Age Pub.
Millard, M. K., & Cebula, J. (2013). Lead like Butler: Six principles for values-based leaders. Nashville: Abingdon Press
Pride, W., Hughes. R & Kapoor, J. (2014). Foundations of Business. Cengage Learning publishers.