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MGT4028 : Unethical Practice In B And M European Retail

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MGT4028 : Unethical Practice In B And M European Retail

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MGT4028 : Unethical Practice In B And M European Retail

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Course Code: MGT4028
University: University Of Glasgow

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Country: United Kingdom

Question:
Reflect on your experience as an employee in your current job (either full-time or part-time) or a previous job indicating your views on the following statement:”There is no Ethics in Business, the Business of Business is Business
Answer:

Ethical decisions can help in ensuring order along with justice within the society. Corporate social responsibility is related to corporate ethics and the retail companies fail to abide by the ethical principles. The unethical practices carried out by B and M European Retail is that it charges full price for an item of sale without the knowledge of the customer. I found out while working at B and M European Retail that the customers are not aware of the ingredients that are made use of making the products that is a breach of trust in relation to the company ethics.
 According to me, the shareholders should be provided with fair returns pertaining to the investment at that of regular interval. The main focus of B and M Retail is on the arena of making profits and they do not abide by ethical principles at all times (Bmstores.co.uk 2018).The shareholders are not provided with the right information pertaining to financial status of the company. I found out while working at M and M Retail that the organisation was not acting for the interest of shareholders. B and M Retail does not follow ethical practices towards that of the employees. Retail industry helps in employing a large number of staff and it is necessary that there are proper policies that can help in safeguarding the employees in an organisation. The employment relation in B and M Retail suffers and this leads to the poor staff morale among the employees (Gupta and Srivastav 2016). It often results into low productivity along with high labour turnover. The customers cannot see the background operations in relation to the product and the adherence of the moral principles is a necessity for the retail company. B and M Retail is not transparent in relation to the operational procedures and the operations management can be said to be unethical. B and M Retail is not transparent in relation to promotion period end dates and it results into disgruntled customers.
Marketing can help a company in earning profits and the marketing practices are not ethical pertaining to B and M Retail. The salespeople of B and M Retail lack integrity and they try to convince the customer by stating facts that are wrong (Beitelspacher and Rodgers 2018). The promotions are misrepresented by B and M Retail and this helps in tricking the customers in the short run. This will however damage the reputation of B and M Retail in the long run.
References:
Beitelspacher, L. and Rodgers, V.L., 2018. Integrating Corporate Social Responsibility Awareness Into a Retail Management Course. Journal of Marketing Education, 40(1), pp.66-75.
Bmstores.co.uk (2018). Wallpaper, Curtains, Furniture, Toys, Vacuum Cleaners, TVs – B&M. [online] Bmstores.co.uk. Available at: https://www.bmstores.co.uk/ [Accessed 25 Jun. 2018].
Gupta, S. and Srivastav, P., 2016. Despite unethical retail store practices, consumers at the bottom of the pyramid continue to be loyal. The International Review of Retail, Distribution and Consumer Research, 26(1), pp.75-94.

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