M7A4 Journal: Ethics As A Road Map Through Difficulty
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Ethics as a Road Map through Difficulty
Ethics is a philosophical term introduced by Greek and it describes the moral values and behaviors which are standard. On the basis of these standards acceptable and unacceptable ways are defined. In organizational context, ethics involve those values and challenges which are related to the stakeholders and the business entities. On the other side, leaders represent their organization and they are responsible for every process and practice of that organization. The development of an organization depends upon the way its leader act. Combining two utmost terms the concept of Ethical Leader emerges. An ethical leader is the one who follows the principles of conduct, believes in the universal moral standards and sets examples for the followers (Shapiro& Stefkovich, 2016).
Ethics Employed by Verizon
Likewise, Verizon briefly highlights its commitment and values in the booklet of Code of Conduct for the company. In the core values, it is written that integrity is the crucial element highly practiced in Verizon. All the employees are honest, ethical and trustworthy because they want greater services for their customers, stakeholders and other entities. Respect comes after the integrity because it is the duty of everyone to respect each other regardless of their level. After these two ethical values, the code of conduct talks about the high standards of performance, innovative ideas of team work and accountability. All of these elements reflect that the company highly appreciates the business ethics. These ethical standards are not limited to the workforce only; it also applies on higher management. The senior leadership will be accountable for his or her practice of ethical standards.
Challenges Faced by Verizon
Verizon is expanding as the biggest wireless companies in the United States market. The challenges it faces are mostly related to the highly competitive market. In last few months it is observed that other wireless companies of the united states were moving different direction while Verizon has chosen other path to run its business. When the CEO of the company was asked for the reason, he responded that there has been a slow growth for few years. Therefore, the higher management thinks that going in different direction might help the company to rise its business again. The first challenge for the company is the pricing pressure, there is a huge competition among the big named carriers in the United States (Tenebruso, 2017). All these companies are struggling for the market shares in the United States. Therefore, there is a price war between these entities. The revenue of the company has steeped. It started with resisting a pressure from rival company T-Mobile in order to introduce an unlimited plan for the customers. However, Verizon has to loss a large number of customers due to this strategy (Tenebruso, 2017).
The second challenge the company is facing in its product is the cord-cutting. The online streaming video services are provided by many other company like Netflix, Prime Video and Amazon. However, the cable provider companies are getting worse due to these services. It is noticed that millions of customers have cut the cord within few years. The company had lost so many of its customers in a quarter (Tenebruso, 2017).
Verizon’s response to challenges
It was the time for the company to save its business by taking some measureable solutions. It was necessary for the higher management to show some positive role in order to make a progress in the competitive market. During the challenges an ethical leader needs to play his role to encourage his employees so that they show some efficient performance (Bokelberg, 2016). It was the same case for Verizon. The CEO of the company took an initiative and he came up with his own strategies to bring the company out of crisis. A role of an ethical leader can be observed in conflict situations if he or she is able to build employees’ determination efficacy and increases the ability of workforce to deal with the conflict situations (Babalola, Stouten, Euwema & Ovadje, 2018). When Verizon was facing the problems regarding the growth, the CEO of the company bring an innovation which direct the employees towards a totally new path. It was different from all the other carrier companies. The company came up with unique ideas which were different from other network providers in the US. However, throughout the process the CEO remained by side of the company and encouraged the employees. They are now the best wireless network provider. The promos and packages they offer to their customers attracted a huge number of users.
In conclusion, an ethical leader is the one who follows the principles of conduct, believes in the universal moral standards and sets examples for the followers. Likwise, Verizon also shows some commitment and values through the booklet of Code of Conduct for the company. In the core values, it talks about integrity as a crucial element that is highly practiced in Verizon. All the employees are honest, ethical and trustworthy because they want greater services for their customers, stakeholders and other entities. However, the challenges Verizon faces are mostly related to the highly competitive market and number of competitors. It was necessary for the higher management to show some positive role in order to make a progress in the competitive market. During the challenges an ethical leader needs to play his role to encourage his employees so that they show some efficient performance. It was the same case for Verizon. The CEO of the company took an initiative and he came up with his own strategies to bring the company out of crisis.
Babalola, M. T., Stouten, J., Euwema, M. C., & Ovadje, F. (2018). The relation between ethical leadership and workplace conflicts: The mediating role of employee resolution efficacy. Journal of Management, 44(5), 2037-2063.
Bokelberg, E. H., Dillard, B. A., Hoffman, D. A., Howard, P., Paulsen, B. T., & Tano, J. A. (2016). U.S. Patent No. 9,327,198. Washington, DC: U.S. Patent and Trademark Office.
Shapiro, J. P., & Stefkovich, J. A. (2016). Ethical leadership and decision making in education: Applying theoretical perspectives to complex dilemmas. Routledge.
Tenebruso, J. (2017). The 2 Biggest Challenges Facing Verizon Communications Inc. -- The Motley Fool. The Motley Fool. Retrieved 1 March 2019, from https://www.fool.com/investing/2017/07/19/the-2-biggest-challenges-facing-verizon-communicat.aspx
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