Question

Business Ethics

Please answer the statement below

Explain the meanings of voluntary practices and mandated boundaries. Try to explain how to manage ethical risks through mandated and voluntary programs.

Answer 1

Voluntary practices incorporate the convictions,values, beliefs qualities, and deliberate legally binding commitments. All organizations take part in some level of responsibility regarding voluntary exercises to profit all the stakeholders.

Mandated boundaries are the remotely forced limits of conduct externally, for example, laws, tenets, controls, regulations and different necessities. There is a need to keep up the qualities, moral culture, and desires for suitable conduct in an association. This is accomplished through consistence, corporate administration, risk management, and willful exercises

Engaging in philosophy, introducing for healthcare for part time employees etc, through voluntary practices is how ethical risks are managed by the companies. And at the same time, these internal practices impose certain duties and rights which are not mentioned anywhere physically and no particular rule book as such, but with respect to the ethical behaviour they would conform to certain unspoken norms. When it comes to mandated boundaries, this is a direct version which maintains ethical behaviour in the organisation, that is, the rules, laws and mandates are the forms through which unethical behaviour is not accepted at large and in most of the cases there are punishments for not conforming to the laws and regulations. The laws allow for very limited flexibility for organisations adhering to the standards as designated.

Therefore the organisations can effectively manage the ethical risks arising through voluntary as well as mandated programs.