:: Unethical Behaviors or Actions in Business ::

Salam Mesra Dari Nina Syakina
~~~~~~~



What are unethical behaviors or actions in business?

Unethical business behavior is one of the most challenging issues for organizations today. It has the potential to lead to a downfall of an organization. Before that, we must know what is the definition of Unethical behavior.

Unethical behavior is any action that is aimed at taking advantage of another without their knowledge or consent. Most of people define this as manipulating someone without their permission. Unethical actions are not necessarily illegal. Unethical behavior is a way of acting that society disapproves of profuse language, belching in public, and acting violent towards others are all examples of unethical behavior.

Why people are still doing the unethical behaviors?

In today's business environment, when competition is cut-throat, more and more individuals are resorting to unethical business practices to succeed. There are few common reason behind unethical behaviors. People who have had the best of education background are usually found to be indulging in unethical business practices and the sad part is that they don't feel guilty about it! We can blame it on our popular sub-culture, an individual who cheats his way up the ranks in organization. It is very important that we go back to the basics and help employees in clearly distinguishing between ethical and unethical business practices. But, the biggest reasons why people indulge in unethical practices is pressure from supervisors. When managers set unrealistic and unbelievable targets, they are indirectly communicating to their staff that they want it done, no matter what. The employees in the other hand are under immense pressure to complete their targets as their career prospects, depend to a large extent, on their performance, and if the performance is not up to what the manager expected, the chances of growth are slim .Besides, the other reason is bad attitude. Personal greed and a desire to further one's career are the other reasons that push people to indulge in unethical business practices. A lot of times, The employees re promised a huge bonus if they achieve their targets and the lure of money compels them to cheat. The employees may also do certain things to prolong their career in a company as the thought that they may be fired is too repulsive to them. These factors will encouraged employees to such an extent that they don't think twice before behaving in an unethical manner, such as selling unsafe products, manipulating systems to their own advantage and others unethical behavior.

It is a sad truth that the employees of just about every business will occasionally encounter team members who are taking part in unethical behaviors. Such unethical behaviors include a wide variety of different activities. Among the most common unethical business behaviors of employees are making long distance calls on business lines, duplicating software for use at home, falsifying the number of hours worked, or much more serious and illegal practices, such as embezzling money from the business, or falsifying business records, misappropriation of funds, cheating, breach of trust, bribery, corruption, gratification, stealing, sexual harassment, child labor, environmental abuse like improper disposal of toxic wastes, solid wastes and other pollutants, dealing with staff towards clients, stakeholders, public as a whole spam’s, misrepresentation, miscommunication and irresponsible advertisements and others.

How to change this matter?

By the way, it is high-time that we have strict rules in place to check the acts of people who think of themselves as invulnerable. Unethical business practices have no place in today's business environment and we as individuals, also have a responsibility that we conduct ourselves ethically in our organizations.

we must change this attitude!

::nina says::
This entry is specially made for my Business Ethics and Corporate Governance subject lecturer,

Pak Din aka Abah

visit his page here.

:: Creating Wealth Through Knowledge, Technology and Innovation ::

Salam Mesra Dari Nina Syakina
~~~~~~~


How to create wealth through knowledge, technology and innovation?

Hurmmm... this is not a simple topic to discuss here.
but, its quite fun to challenge our mind.

Most people related technology in the mid to late 20th century to the race in technological advancement between the super powers in the cold war era, in terms of space travel and dominance. Technology in those days was only available to the rich and powerful, the government and corporate giants. Nowadays, that race between the super powers has resulted in the technological boom in today’s world and the rapid domestication of technology.

Technology is a result of innovation. Innovative people create ideas and execute these ideas to better living standards. Innovators constantly look for ways to improve the way or ways in which we do things. They strive to create new ways of achieving the same result, or even a better and more improved result. Communication is an example of human interaction which has benefited due to the increase in technology through innovation. The days of sending personal mails through post offices have been done away with by the introduction of emails and mobile phones. Iphone, Ipad, Blackberry, Itab, Smartphones, these technologies are examples of innovation for nowadays. People are really crazy into them!

The question now is, with all the readily available technologies; how are we able to fully utilize them to create wealth for ourselves?


The simple solution that I think will be helpful is by using technologies which are integrated into everyday life and adapted to daily practices.

Take a look around you. 

Most of us live our everyday existence in routines that acquire a familiar rhythm. Our homes, transportation, work and activities with friends and family seem to continue much as us always have. Sure, we might own a hand-held device and find it more useful than a paper pocket calendar. Many of us check in with email and find both the expanded access to people and the quickened speed of communication convenient. These technologies that we as individuals see and experience do not appear to be either radical or life changing.

Yet, the convergence of innovative technologies, being introduced and integrated in certain world regions with a rapidity never seen before, will dramatically change the way we live, work, and relate to one another. It will also provide opportunities for generating regional wealth in new ways that we are just beginning to understand. Technology has come a long way and continues to change this world every day. Those who do not adapt to change and utilize it are left behind. Those who are receptive to and appreciate change advance and prosper in life. Technologies have now been domesticated and are readily available; it is how we use them to create wealth.

How to create wealth through knowledge, technology and innovation?

More and more people in Malaysia have to become or strive to be more innovative. This is because the days of having mere skills or talent have long gone. To survive in this ever changing and competitive world one needs to keep abreast with and adapt to the changes around it. A certain way of doing something might not be that way anymore because a new and faster way of doing that has been invented.

So people need to acquire and adapt to using this new technique which have come by way of innovation and technology.

The key to making wealth from the use of technology and skills is to be innovative. To think out of the box and find new ways of achieving the desired result. Time is money in today’s world so one must deliver services faster and more efficiently. This allows one to have a competitive advantage over one’s competitors. One must always be able to adapt to the changes in today’s world and these changes come by way of technologies. Mobile phones, laptops, tablets and other are new technologies that are available. Most companies who invest in technologies, whether hardware or software, do it to maximize profit or create wealth. They employ people who are innovative so that it allows the organization to evolve. Employing people who are not innovative means that there won’t be room for new ideas and new ways of doing things. Allowing innovation would also mean changing the organizational culture of a company. Innovation comes with age and so when there are people who are of another era and are set in their old ways of doing things it hinders new and upcoming innovative people and ideas. Being innovative allows us to fully utilize these technologies to our advantages.

People have a set of skills, knowledge, and talent but to fully realize our potential and create wealth we need to utilize tools such as the technologies available. Besides, innovation also allows us to create wealth through technology. It is how we think out of the box. We may have a good writing skills. We may have very good marketing skills.  It’s how we use what is available to us at the present time to create wealth from the skills we have. For instance, with a laptop and an internet modem, we are able to connect onto the internet and find Social Medias such as facebook, twitter, mudah, lelong, and ebay and other sites to do free marketing of the skills that we have!

Just be creative, guys!

People who are able to use technology to create new and efficient way of doing things or produce results at a faster and more cost efficient ways are innovative.

Anyone can be innovative!
 It only needs one to have a beginners mind.

::nina says::

This entry is specially made for my Innovation and Management subject lecturer,

Pak Din aka Abah

visit his page here.

:: Becomes a Good Person ::

Salam Mesra Dari Nina Syakina
~~~~~~~

A good fruit comes from
a good tree.

The better tree
are come from a good seed.

The principle of human life,
the situation remains the same with
this example.

If we want to change the fate of
become more intense in
2013, we must do
changes at the level of principle.

::nina says::
be a better, girl!

::Innovation, Malaysia Becoming Innovation Nation by 2020 ::

Salam Mesra Dari Nina Syakina
~~~~~~~

We’re seven years away from 2020, the deadline we placed upon Malaysia to become a self-sufficient industrialized country. Eight years is certainly a short period of time, and we have a lot of work to do to achieve the goals enshrined in Vision 2020.

The task is daunting, but necessary nonetheless. Whether we like it or not, we need to change the way we've been doing things in business, government, academic and society itself. Not only do we face stiff competition from other developing countries, we’re also facing the inevitable depletion of the natural resources that have been contributing significantly to our economy. The advantages that we have been enjoying based on old economic models are becoming unsustainable, so we must look at new key ingredients to take us to the next level.

This is why the government has made innovation as the key thrusts in our way forward. Through bodies such as Agensi Inovasi Malaysia, the government is revamping the necessary elements of innovation to ensure that all groups in society, including academia, industry, the citizens and government itself, collaborate and move in the same direction.

To enable innovators to get their creations to the market, we’re looking at making funding more accessible and streamlined. With more emphasis on deliverable and results, grants and loans given come with more accountability. We’re introducing innovative thinking skills in the education system to produce an innovative workforce that can satisfy future industry needs. Initiatives such as the i-THINK programme will produce students who have critical, analytic and creative thinking skills, a skillset needed in an innovative society.

We are fostering more collaboration between businesses and the research community to encourage industry-driven innovations that create wealth for all the players as well as the nation. We are also identifying areas with high national strategic impact potential and formulating strategies to reap the benefits in terms of wealth creation and societal benefits.

However, the government cannot do this alone. It can only provide the framework, direction and policies that facilitate and motivate change and collaborations in industry, academia and the population. True impactful transformation can only happen when the private sector takes the lead in innovation. New ideas, initiatives and alliances must naturally originate from those who know their own areas, and stand to benefit the most from the innovations.

Conventional thinking and approach are deeply entrenched in our minds, hearts and habits. In some cases, they’re even institutionalized  But transformation requires a change of culture. It demands an honest audit of our priorities and how we've been doing things, and the courage to decide that they must be improved, overhauled or even completely eliminated. It demands the humility and willingness to reduce the power-distance in our businesses, government bodies, associations and even our family units – good ideas and constructive opinions can come from all levels in an organisation. The dynamics among every member of our society has to encourage, not stifle views.

That is the only way to reap the innovation potential from our population. Only when the spirit of change, transformation and innovation is alive in the masses would we have a chance at achieving our dreams of becoming an Innovation Nation by 2020.

Proud to be Malaysian!

::nina says::
counting the days,
or counting the years.

:: What is Business Ethics? Why Business Ethics is Considered Oxymoron? What is Corporate Governance? ::

Salam Mesra Dari Nina Syakina
~~~~~~~

What is Business Ethics? 
Why  Business Ethics is Considered Oxymoron?
 What is Corporate Governance?

Before we know more about what is business ethics, firstly we must understand what is business all about.

Business is an economic activity, a transaction where an offer is made by a seller and the offer is accepted by a buyer for a consideration with the hidden agenda of a gain or profit. Many businesses have gained a bad reputation just by being in business. To some people, businesses are interested in making money, and that is the bottom line. It could be called capitalism in its purest form. Making money is not wrong in itself. It is the manner in which some businesses conduct themselves that brings up the question of ethical behavior.

What is Business Ethics? 

Business ethics is the study of  business situations, activities, and decisions where issues of right and wrong are addressed. Business ethics are moral principles that guide the way a business behaves. The same principles that determine an individual”s actions also apply to business. Acting in an ethical way involves distinguishing between right and wrong and then making the right choice. It is relatively easy to identify unethical business practices. Besides, business ethics is also known as the behavior that a business adheres to in its daily dealings with the world. The ethics of a particular business can be diverse. They apply not only to how the business interacts with the world at large, but also to their one-on-one dealings with a single customer.

Good business ethics should be a part of every business. 
There are many factors to consider. When a company does business with another that is considered unethical, does this make the first company unethical by association? Some people would say yes, the first business has a responsibility and it is now a link in the chain of unethical businesses. Many global businesses, including most of the major brands that the public use, can be seen not to think too highly of good business ethics.

However, it is not always easy to create similar hard-and-fast definitions of good ethical practice. A company must make a competitive return for its shareholders and treat its employees fairly. A company also has wider responsibilities. It should minimize any harm to the environment and work in ways that do not damage the communities in which it operates. This is known as corporate social responsibility.



Why  Business Ethics is Considered Oxymoron?


People often joke that business ethics is a contradiction in terms. What they are referring to is the apparently inherent conflict between morality and the pursuit of profit. The implication is that if a company has to choose between profits and doing the right thing, profits will always win.

 If business is about making a profit, can we really do so while still acting ethically?

The answer is DEPENDS!

Most of businesses in the world can and do act ethically. They do so because good ethical behavior is the best long-term strategy for a company. That's not to say that ethical behavior always pays off financially or that unethical behavior is always punished. Actually, doing the right thing can sometimes be quite costly for a business, and doing something unethical may pay off, at least in the short term. What we mean by the best long-term strategy is that for the most part and over the long run, acting ethically can give a company a significant competitive advantage over companies that do not act ethically.

In fact, several studies have looked for a correlation between good ethics and good corporate performance. There are plenty of examples out there of consistently profitable companies that also have a longstanding history of ethical conduct such as The Body Shop, Coach, Bonia (one of my favourite brand, kikiki) and others. Other studies have looked at how socially responsible firms perform on the stock market, and have concluded that ethical companies probably provide higher returns than other companies. It is true that some studies show no real correlation between ethical behavior and corporate profits. But we do know that no study's been able to prove a negative correlation between ethics and profitable operations.

Though, there are other more basic ways in which ethical conduct figures in a business's long-term strategy. Business, which is like a human life is a cooperative activity. Its very existence requires some minimum ethical standards. No business, just like no community, can survive if its members begin to believe that it's OK to lie to one another, to steal from each other, or to go back on promises. This kind of unrestrained self-interest results in a breakdown of society. Without minimum ethical standards in place in a society, its business activities will also collapse. If you don't believe that, just look at the long term breakdown of business activity in war-torn areas like Palestine, Iraq and Afghanistan a result of political uncertainty and distrust, civil unrest, and ultimately rioting.

Next, remember that businesses act rationally when seeking profits. That rational self-interest might actually dictate acting unethically when there's something to be gained. Doing the right thing is almost always costly, at least in the short term. But because business involves reputation and relationships, unethical behavior usually backfires in the long term. If a business takes advantage of its employees, its customers, or its suppliers, these groups and maybe even others will often find a way to retaliate by refusing to work for or buy from the company. Over time, unethical behavior can undermine good relationships with all of the stakeholders of a business: employees, creditors, customers, suppliers, shareholders, and even the community in which the firm is located. Ultimately, unethical behavior tarnishes a business's reputation. Particularly with the advent of the Internet, more information than ever is available about corporate conduct, both good and bad. Because most people prefer justice and fairness, they are more likely to want to do business with a company that does good than one that does not. In the end it is unethical behavior that becomes costly, and conversely ethical behavior creates its own competitive advantage.

No, "business ethics" is not an oxymoron!





What is Corporate Governance? 

Corporate governance involves regulatory and market mechanisms, and the roles and relationships between a company’s management, its board, its shareholders and other stakeholders, and the goals for which the corporation is governed. The system of rules, practices and processes by which a company is directed and controlled. Corporate governance essentially involves balancing the interests of the many stakeholders in a company - these include its shareholders, management, customers, suppliers, financiers, government and the community. 

Corporate governance also provides the framework for attaining a company's objectives, it encompasses practically every sphere of management, from action plans and internal controls to performance measurement and corporate disclosure.The framework of rules and practices by which a board of directors ensures accountability, fairness, and transparency in a company's relationship with its all stakeholders. The corporate governance framework consists of explicit and implicit contracts between the company and the stakeholders for distribution of responsibilities, rights, and rewards, procedures for reconciling the sometimes conflicting interests of stakeholders in accordance with their duties, privileges, and roles, and procedures for proper supervision, control, and information-flows to serve as a system of checks balances. 

Feel free to view my business online page HERE.

::nina says::

This entry is specially made for my Business Ethics and Corporate Governance subject lecturer,

Pak Din aka Abah
visit his page here.

:: Why Malaysia Has to Be Innovative to Compete Globally? What is Genovasi? ::

Salam Mesra Dari Nina Syakina
~~~~~~~


Why Malaysia has to be innovative?

The answer is SIMPLE!

The next driver for the Malaysian economy will be innovation. 
That is why Malaysia has to be innovative.

Innovation is driven by the ability to see connections, to spot opportunities and to take advantage of them. It can be a driver to exploit radical breakthroughs in technology.

By the way, do you know, what is innovation all about? 
Innovation is a combination of ideation; concepts; creativity; invention; and patents towards commercialization of products, processes or services. Innovation refers to both radical and incremental changes to products, processes or services and it must involve risks.

Why innovative?

The rapid rate of technological development has led to an increase in the pace of change, and globalisation and deregulation have led to increased competition. To survive in this world, organisations need to be continuously creative and innovative, especially in high wage economies and entrepreneurial societies.



Why Malaysia has to be innovative to stay competitive and relevant among the developing countries?  

To be innovative, nations and organizations must keep on changing with the environment and time. New products, services and concepts will have to be invented in the shortest possible time in the light of the stiff competition, more so in the global market. If an organization is complacent with whatever products or services that it produces or provides for, then the creative destruction mechanism will disadvantage it or at the extreme, kill its products and services. So Malaysia will have to be innovative in order to survive in the tough competitive environment to remain relevant. Malaysia has to survive and grow economically. The way forward is to be innovative in policies, production and services to stay relevant, if not ahead of other nations in this region.

 

Besides, according to Global Innovation Index, Malaysia is ranked 32 out of 141 economies in the world. Malaysia is praised for providing conducive market sophistication and business sophistication. Ease of getting credit, conducive investment environment, and healthy trade and competition contributed to good scores for market sophistication. The availability of knowledge workers, and high knowledge absorption and adoption, has contributed to high scores for business sophistication. However, institutions, infrastructure, and human capital and research have dragged down Malaysia's innovation ranking. There are only 715.4 researchers over a million population (rank 64). Malaysia is also cited to have low creative output and low knowledge and technology output. Malaysia scored poorly in providing creative goods and service and involvement in online creativity. Only ICT business model creation and ICT organizational model creation provides good score. Low knowledge and technology output is reflected by low patent activity and low output of scientific and technical articles. Hence, Malaysia has poor innovation efficiency (rank 84) due to low innovation output.

The latest World Economic Forum (WEF) Global Competitiveness Report ranked Malaysia the 21st most competitive out of 142 economies it surveyed. However, in the Innovation Sophistication category, Malaysia  was ranked 24th for quality of scientific research institutions, and 32nd for utility patents granted per million population. In the category of Technological Readiness, Malaysia ranked 28th for firm-level technology absorption; 40th in Internet users per 100 population, 60th in Internet bandwidth (Kb/s) per capita, and 62nd in Broadband Internet subscriptions per 100 population. Earlier this year, the Institute of Management Development (IMD) released the results of its survey of the competitiveness of 59 economies. Malaysia ranked 35th in the category of business expenditure on R&D as percentage of GDP; 38th in total expenditure on R&D as percentage of GDP; 42nd in terms of total R&D personnel nationwide in business enterprises, and 45th in terms of scientific articles published. These are not impressive figures. We must improve our record in the creation and commercialization of intellectual property.

That is why Malaysia need to change! Malaysia has to be innovative to stay competitive and relevant among the developing countries. It is because the country with an innovation-driven economy will enable the nation to further develop its science and technology sector. This needs to be happen if the country aspires to surge ahead of countries already famous for their science and technology prowess, like Japan.

That is why, Malaysia need to do something and change it!

Malaysia have to ensure that all groups in society collaborate and move in the same direction. Malaysia are looking at making funding more accessible and streamlined. Malaysia is introducing innovative thinking skills in the education system to produce an innovative workforce that can satisfy future industry needs. There is no question that we need to step out of our comfort zone and speed up our own development pace if we are to continue to be relevant in the international community. With the global economic landscape undergoing transformation at a rapid rate, the ability of any nation to adjust and embrace change will determine its prosperity.

Besides that, Malaysia has to be innovative as to create around maximizing existing resources such as talent, intellectual capital and intellectual property to generate the new wealth. That is why, Malaysian have to survive and grow economically and be innovative in order to survive in the tough competitive environment to remain relevant. 

What do we have to do? What do we had done?

The government has taken a number of policy measures to get the economy moving in this direction. Government and GLC procurement policies, for example, are being changed to support local innovative products and services. Besides, the establishment of Unit Inovasi Khas (UNIK) in the Prime Minister's Office is also help Malaysia to formulate policies and strategies to promote innovation in the country. With the setting up of UNIK's implementation arm Agensi Inovasi Malaysia (AIM), Malaysia now have the institutional structure to undertake an organised and sustained programme of innovation initiatives. These initiatives are designed to improve the innovation eco-system and create New Wealth from innovation in Malaysia. 

Besides, universities have also been assigned the role of R&D centres to collaborate with the private sector.  Universities have special responsibility due to this. There is an expectation these days that institutions of higher learning should serve not only as centres of learning, but also as founders and incubators of ideas that can be transformed into commercially viable products. So, it is not surprising to see universities forming start-up companies to market their research. Universiti Kuala Lumpur is also the best example as to be centre of a technopreneur culture. Their vision is to become the premier entrepreneurial technical university in the country by 2020 through excellence in research, education, training, entrepreneurship, consultancy and community services. Their  esearch activity is focused on developing new technologies and products to support our techno-entrepreneurship ventures with their researchers, graduates and industrial partners. The university partners with many other local and international universities and research institutions to bring closer research knowledge into successful application and commercialisation.

In these circumstances, there is the need for intervention programmes to promote innovation-led entrepreneurship. This has to be done in a way that will have a lasting and institutionalised impact on society. 

The government is banking on improved collaboration between academia and industry to identify ideas and products than can be developed and brought to market. It is also putting in place a regulatory framework that will provide the funding support for these activities. 

Due to this, the Prime Minister of Malaysia, Dato' Seri Mohd Najib Tun Razak establishment of Genovasi as an innovation organisation where young Malaysians will be able to receive an induction into innovation is spearheaded by Unit Inovasi Khas (UNIK) under the Prime Minister's office.

Genovasi? What is GENOVASI all about?

Genovasi are combination of Generasi and Inovasi or The Innovation Generation. The establishment of Genovasi as an innovation organisation where young Malaysians will be able to receive an induction into innovation is spearheaded by Unit Inovasi Khas (UNIK) under the Prime Minister's office. Genovasi will provide young professionals and graduates with a one-of-a-kind opportunity to become Innovation Ambassadors via the Innovation Ambassador Development Programme. Innovation Ambassadors will be catalysts for change to spread the concepts, best practices and applications of innovation. Genovasi also have a vision that can form a person's self esteem, professionalism and smart to solve problems and taking up challenge to create young generation skillful in creating or improving idea. It gives advantages to young people for realize their dream of becoming a country drive. But it still new. We can't predict anything from this until they come out with the best result. Just wait and see!

 I am confident that these measures will produce results in the near future, and remain optimistic that GENOVASI can transform Malaysia into an innovation-led economy. 

::nina says::

This entry is specially made for my Innovation and Management subject lecturer,

Pak Din aka Abah

visit his page here.