Despite TechFite efforts to contribute positively to the community, it is clear that it is faced with some challenges which arise from its social and ethical obligations. Thus, it necessitates the formulation of corporate policies that will help address the company’s moral challenges and corporate social responsibilities policies to act as a guide towards fulfilling the societal requirements.
Corporate policies
Uphold a serene workplace environment
The company shall not tolerate characters and partaking that shows any form of harassment or discrimination in regard to nationality, gender, physical disability, age, race, or religious beliefs (Boyd, 1996). Rather the company’s aim is to create a serene environment for employees to feel accepted, satisfied and appreciated.
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Conformity to the Labor and Employment Laws
The company shall adhere to the necessities of the Labor and Employment laws including in events where organization’s members may be faced with financial and psychological constraints. The laws and their provisions offer guidelines on how to conduct various human resource activities such as compensations, layoffs, promotions, firing, and hiring among others.
Information sharing with the organization’s Stakeholders
Since the company appreciates the necessity of information sharing with stakeholders, the company shall disseminate suggested plans, thoughts, and required information to the stakeholders who may be impacted if a decision is made by use of the information. This is aimed at establishing and maintaining a suitable and positive company-stakeholder relationship (Rossouw, 2005).
Issues that affect TechFite
Firstly, the company provides incentives to managers only rather than all its workforce. Its profits growth should reciprocate in changing all its employees’ state. Secondly, the company faces a challenge of misuse of resources, that is, due to mismanagement of finances the junior employees are not paid their overtime dues while the senior employees receive huge bonuses.
Role of ethics officer
The chief role of the ethics officer is to ensure that the company’s employees and stakeholders adhere to the set ethical principles and standards. Thus, violations of the policies shall attract disciplinary actions as deemed fit by the ethics committee whose leader is the ethics officer.
Corporate social responsibility (CSR)
It is a form of business regulation that surpasses statutory compliance laws and regulation and is incorporated into an organizational model (Balabanis, Phillips, & Lyall, 1998). Chiefly, a company employs CSR to evaluate the environment and own responsibility for its undertakings to ensure environmental and social well-being. This self-regulatory model is significant to the TechFite case since the company is actively executing community-related activities such as periodic funding projects.
Recently, the company’s disengagement from contributing to the community agreed with city officials is impacting the company’s image negatively. Additionally, poor resource allocation and budgeting for various projects has landed the company in financial entanglement. Moreover, lack of commitment to enhancing its employees’ working condition has led to the company realizing a huge loss. To solve these issues, the company needs to communicate its financial incapability to continue its periodic funding but should promise to continue immediately it gets itself running normally again (Yoon, Gürhan-Canli, & Schwarz, 2006). In addition, the company should appropriately budget and allocate funds correctly for each project to avoid similar inconveniences experienced. Further, the company should participate in other community activities that do not necessarily require financial input such as cleaning events and tree planting occasions. Evidently, the activities display the ethical and social responsibility of the company in that it plays a role in promoting the growth of society and the environment without incurring the cost or gaining any profit from its undertakings.
References
Balabanis, G., Phillips, H. C., & Lyall, J. (1998). Corporate social responsibility and economic performance in the top British companies: are they linked?. European business review , 98 (1), 25-44.
Boyd, C. (1996). Ethics and corporate governance: The issues raised by the Cadbury report in the United Kingdom. Journal of Business Ethics , 15 (2), 167-182.
Rossouw, G. J. (2005). Business ethics and corporate governance: A global survey. Business & Society , 44 (1), 32-39.
Yoon, Y., Gürhan-Canli, Z., & Schwarz, N. (2006). The effect of corporate social responsibility (CSR) activities on companies with bad reputations. Journal of consumer psychology , 16 (4), 377-390.
