Evaluation of Business Ethics in Far East Organisation

Question: Describe about the Evaluation of Business Ethics in Far East Organisation. Answer: Introduction: Business ethics defines the policies and laws followed by the organisation to dissolve problems of discriminations, illegal act of employees, and money laundering cases in the business environment. The present study has dealt with the ethical codes observed by Far East Organisation to distinguish between acceptable and unacceptable behavior in the workplace. Discussion of the reason behind selecting Far East Organisation: The present study has dealt with the business ethics followed by Far East Organisation, the leading real estate company in Singapore. The property developer has first launched its office in the year of 1960 in Singapore (Weiss, 2014). The company has developed buildings in commercial, IT, hospital or residential sectors of the country. Far East Organisation offers real estate houses in affordable prices that help to draw the attention of wide range of service users in the market. The organisation provides around 1.4 million lands to expand the retail market in the country (Hoffman et al., 2014). The company has provided lands to flourish the hotel industry in foreign countries. Here, the ethical issues followed in Far East Organisation has been discussed that assists to understand the protocols maintained in the firm. It helps to understand the policies the company follows to attain fair deal with the clients. Explanation of business ethics followed by Far East Organisation: Far East Organisation has considered unity, honesty and integrity as essential parts of their business. The company has valued the unity of their workers that helps to improve the service provided to service users. The leading property developer in Singapore prefers to work as a team that helps to incorporate active participation of the staffs involved in the company. It helps to dissolve the internal conflicts and to attain the desired objectives of the business firm. Far East Organisation has also focused on protecting dignity and self-esteem of staffs to retain their trust and loyalty. The company has also endeavoured to secure the health and safety of workers in the workplace. It helps to maintain the faith of employees that restrains them from committing unethical activities (Hartman et al., 2014). Far East Organisation also provides healthy working environment to the employees of the firm. Fair pay to the workers, scheduled working hours assist to motivate staffs to perform wel l (Leipziger, 2015). Therefore, the company spends large amount of money on maintaining the labours and to manage the resources. The business firm has also worked on controlling the discrimination in workplace. Companys non discriminatory attitude towards the staffs helps to attain better service from them. Far East Organisation also provides bonus, incentives to their employees in praise them for their service. The company also focuses on making contracts with the clients. It helps the firm to possess fair deal with the buyers. Far East Organisation also mentions the laws that the buyers have to maintain to buy the property. Transparency in the contract assists to maintain fair relation with clients (Sethi, 2016). Therefore, the property developing company in Singapore maintains ethical codes in making their contracts with clients. The company should inform the clients about real market value of the property. The act of misleading the clients affects the reputation of the company ( Blome Paulraj, 2013). Therefore, Far East Organisation focuses on providing relevant information to customers. The company also possesses fair transaction of money with the buyers. Far East Organisation also avoids discrimination of clients on the basis of their financial and monetary status. The organisation believes in fair trade and takes help of lawyer to maintain ethical issues in the contract. The agents of the company also offer bonuses, special offers to the service users and clearly explain the norms and condition of the offers. The company also mentions the taxes that the buyers have to provide for the property. Business ethics also includes transparency in the deal between clients and sellers during the time of purchasing the real estate (Floyd et al., 2013). In the present scenario of Far East Organisation of Singapore, it is noticed that the company sends e-mail on the confirmation of the deal with the clients. The company also promises of providing after sales services to the clients. Code of Ethics considers it legal to possess property deals between agents engaged in brokerage services. Hence, Far East Organisation sells property to other real e state companies in both national and international market. The company has worked on following the National Code of Ethics that assists to improve the business operation. It is noticed that the firm has worked on maintain the protocols to have fair business in the country. Far East Organisation also focuses on attaining online or banking monetary transaction to avoid litigation with the clients. The business firm also considers the confidentiality of their clients. The company maintains the secrecy of the contract with buyers to avoid fraud cases. It helps to dissolve the involvement of third parties that affects the ethical matters followed by the company. The hidden contract with different buyers also assists to avoid money laundering cases faced by the company. The present real estate company also follows these ethical issues in the foreign trade. For example, the company provides property to different companies in the country of Malaysia. Therefore, the business firm focuses on maintain the code of ethics followed in both Singapore and M alaysia that help to derive better deal with the clients. The company also focuses on maintain the norms and conditions for money transaction in foreign countries. Critical discussion and evaluation: In opinion of Broad (2014), business ethics assist the company to avail the loyalty of consumers. It aids the organisation to maintain profession relation with the customers in national and international market. Utilitarianism theory of ethics has focused on analysing the action to address the harm or profit connected with it. The theory helps to evaluate the necessity of action and its possible outcome. In present study of Far East Organisation, the company should focus on monitoring the rules and regulations followed by the company. It will assist the firm to understand the necessity of the ethical action to provide fair service to the end-users. Sethi (2016) has argued that utilitarian theory fails to avail quick decision that affects the business performance of the company. Therefore, Far East Organisation should focus on attaining quick decisions to develop their business n different locations of the world. Conclusion: In the present study, it can be deduced that the business ethics followed by Far East Organisation has helped the company to conduct fair trade with clients in Singapore and different locations of the world. The firm focuses on attaining fair monetary transaction with the customers and to provide authentic documents to them of the property sold to them. References: Blome, C., Paulraj, A. (2013). Ethical climate and purchasing social responsibility: A benevolence focus.Journal of Business Ethics,116(3), 567-585. Broad, C. D. (2014).Five types of ethical theory(Vol. 2). Routledge. Floyd, L. 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