Ethical Leadership and Corporate Government

Question: Discuss the importance of ethical leadership and corporate government,what impact do they have on ensuing ethical conduct within organisation. Answer: Introduction: According to Shapiro and Stefkovich (2016), the importance of ethical leadership and practice in business is gaining itself a common platform to compete well in the market, provide better customer service and addressing to the various problems concerning the society. The report aims to show the conceptualization and importance of ethical practice and corporate governance through a case study based on Best Buy. The study shows how a company like Best Buy dealing in electronics has been able to establish itself as a strong market contender by taking several initiatives which are aimed for the welfare of employees, customer, vendors, stakeholders and society at large. The company, founded by Richard Schulze entered into partnerships and acquisition programs to work upon new business ideas which gave the edge to improve its falling share prices and remain in the competition. The vision of the company is itself based on people first and then technology, it also believes jolly employees tr anslate into happy customers. The following study shows the various CSR activities, energy-efficient solutions and ethical corporate governance based on the case study of the organization. (Chun et al. 2013). General discussion The corporate vision of Best Buy gives an augmented effort to its employees as well as customers. The company is devoted to provide a wide variety of training services which can enhance their The Companys chief ethics officer Kathleen Edmond showed how the company can build better employee confidence by listening to their queries on various kinds of electronic items posted in the online forums. The CEO also used cases of unethical practices show that ethical conduct which should be adhered within a company. The company also focused on various programs for the employees who gives service more than 32 hours shall be entitled to receive family health insurance, tuition facility and enhanced adoption assistance. This initiative will enabled the employees to work more efficiently as they were provided with greater flexibility and benefits for putting extra effort during working hours. Best Buy has taken several proposals for the teens by giving them access to explore new technology, devel oping online tutorial classes in the workshops of the company. This step ensured that society is able to reduce the barrier associated with economical and social aspects which prevent many from getting access to newer technology. This program was developed by the acquired partner named geek squad. (Kiddee et al. 2013). The company also took several initiatives for disaster relief operations in the affected areas of the world such as Haiti. In the year 2012, Best Buy donated more than 1000 disaster kits in the distressed areas through its partners. Several energy efficient operations of the company include its partnership with Energy Star. This ensured the customers use only energy efficient products and meet the guidelines by environmental protection agency. The no idling policy ensured that its vehicles were prohibited from keeping their engines on outside the premises of Best Buy. The company also ensured reduction of e-waste by providing the facility of customers recycle the electronic items by providing it drop facility free of charge (Hoffman et al. 2014). Conclusion The report states the several ethical steps taken by the top management of Best Buy in order to gain a competitive advantage. In order to understand the importance of corporate governance we can see how the different hierarchies of people are treated in the same way as they need to show appropriate corporate conduct within the organization. The CEO of the company Richard Schulze has rightfully demonstrated that engaging interpersonal relationships within an organization contributes to a negative working environment. He also shows how inappropriate behavior within an organization can set a wrong example for others (Harford and Maxwell 2012). Reference List Chun, J.S., Shin, Y., Choi, J.N. and Kim, M.S., 2013. How does corporate ethics contribute to firm financial performance? The mediating role of collective organizational commitment and organizational citizenship behavior. Journal of Management, 39(4), pp.853-877. Harford, J., Mansi, S.A. and Maxwell, W.F., 2012. Corporate governance and firm cash holdings in the US. In Corporate Governance (pp. 107-138). Springer Berlin Heidelberg. Hoffman, W.M., Frederick, R.E. and Schwartz, M.S. eds., 2014. Business ethics: Readings and cases in corporate morality. John Wiley Sons. Kiddee, P., Naidu, R. and Wong, M.H., 2013. Electronic waste management approaches: An overview. Waste Management, 33(5), pp.1237-1250. Shapiro, J.P. and Stefkovich, J.A., 2016. Ethical leadership and decision making in education: Applying theoretical perspectives to complex dilemmas. Routledge.