Business Ethics & Corporate Governance Assignment Malaysia

Students are required to prepare a professional report proposing an ethical business policy or improvement plan for an organisation facing ethical or governance-related challenges.

The report should critically evaluate the selected issue and develop practical policy recommendations to strengthen ethical practices, corporate governance, stakeholder trust, and responsible business conduct within the organisation.

Students may select any local or international organisation related to current ethical business issues.

Requirements

Students must:

1. Introduce the selected organisation and explain the ethical or governance issue involved.

2. Analyse the causes and ethical challenges related to the issue within the business environment.

3. Apply relevant ethical theories, moral development concepts, and corporate governance principles in the analysis.

4. Develop and propose an ethical business policy or improvement strategy which may include:

• Code of ethics
• Workplace ethics policy
• Data privacy policy
• Anti-corruption policy
• Sustainability policy
• CSR policy
• Consumer protection guidelines
• Social media ethics guidelines

5. Evaluate how the proposed policy or strategy can improve ethical practices, organisational reputation, and stakeholder confidence.

Experts Answer on Above Questions Business Ethics

Introduction of Organisation and Ethical Issue

The organisation selected for the purpose of analysing its ethical issue is AirAsia Berhad which is a low cost Malaysian Airline having its headquarter in Kuala Lumpur. The ethical issue faced by the airline is in relation to classifying a Capital A company as a PN17 company because of financial distress faced after the Covid 19 pandemic. The company has also faced governance challenges in relation to financial sustainability, stakeholder confidence, transparency and accountability.

Causes and ethical challenges

The main causes are the travel restrictions placed during the pandemic which resulted in significant financial losses. It contributed to high operating cost and debt obligations, and the weak risk preparedness for unexpected crises also contributed to the issues.

Ethical challenges faced by the company are in relation to maintaining transparent financial reporting, protecting employee welfare during restructuring, preserving customer trust during the time of service disruptions and balancing shareholder interest with long term business sustainability.

Application of ethical theories and corporate governance

According to the utilitarian theory, AirAsia should undertake decisions that lead to the maximization of benefits for employees, customers, investors and society. For example, maintaining continuity of essential services while ensuring financial recovery. As per the deontological theory, it is the duty and responsibility of the company to provide honest financial disclosure, and comply with Bursa Malaysia listing requirements, along with providing to stakeholders respective financial pressure. Kohlberg’s moral development theory requires management to undertake ethical decisions on the basis of principles of fairness, transparency and social responsibility, and should not always be based on profits. According to the corporate governance principle, it is important for AirAsia to strengthen accountability, transparency, board independence, risk management and internal control.

Proposed Ethical Business policy

The key elements to consider within its corporate governance and ethical policy are establishing a comprehensive code of ethics for all its employees, strengthening whistle blowing mechanism, improving financial disclosure and reporting transparency, conduct annual ethics and governance training, and emphasise more on sustainability reporting.

Evaluation of the proposed policy

The proposed policy helps in improving ethical practices by encouraging ethical decision making, reducing misconduct and improving regulatory compliance. It also enhances organisational reputation by demonstrating accountability, and supporting long term business recovery. The stakeholder confidence also gets improved through transparent reporting, and employees also benefit from ethical workplace practices. Regulators also positively recognise stronger governance and compliance.

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