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Question 1

Integrated reporting requires thinking about value beyond financial terms, and it uses the sixcapital concept to facilitate the broader thinking about value creation.

Review the Integrated Report 2023 (“IR”) of Mitsui & Co (“MC”)

(see https://www.mitsui.com/jp/en/ir/library/online2023/pdf/en_ar2023_all_web.pdf) and address the following:

(a) Determine how MC uses the six-capital concept to demonstrate creation of value, by explaining MC’s value creation using two (2) capitals cited in the IR.

(b) Briefly explain the circular economy concept and examine MC’s efforts at achieving circular economy, citing relevant examples from the IR.

Question 2

Wood Intel Pte Ltd (“WI”) is a furniture manufacturing business which produces all types of wooden furniture. Penny has been working in the human resource department of WI for the past 10 years and she oversees the recruitment of WI employees. Her job scope involved reviewing job applicants’ resumes and identifying suitable candidates for vacancies in WI.

However, Penny’s employment was recently terminated by WI as she was no longer needed. WI has purchased and is now using hiring software to review job applicants’ resumes with the aim of mechanising the search for top talent. This recruitment software system was implemented in WI at the behest of WI’s CEO (Calvin) who is also a shareholder in the company which manufactures and sells the hiring software, namely Easey Recruit Pte Ltd (“ER”). Calvin did not tell anyone about his involvement in the purchase and implementation of the hiring software, but Penny and her human resource department colleagues inadvertently found out. They, however, did not dare say anything about it.

During her exit interview, Penny was asked various questions relating to what she did during her lunch breaks. Penny often took a nap at her desk during her lunch break but she was surprised to find out that WI knew about this given that her colleagues were usually not in office during lunch hour. As it turned out, WI had installed cameras in the office to monitor its employees. Penny was very upset to find out about this as she thinks that her privacy has been violated.

Subsequently, six (6) months after WI started using the hiring software, WI discovered that the hiring software was not rating candidates for technical jobs in a gender-neutral way. It appears that there were several instances where a female candidate who is equally qualified for a job as a male candidate was rated less suitable. WI, nevertheless, continued to use the hiring software as WI did not want to incur further costs to rectify the software or to re-hire human resources employees to do recruitment.

At about the same time, it was reported in the news that WI will be awarded several government contracts to provide wooden furniture to the offices of various government agencies. After the contracts have been awarded, WI’s management brought various government officers involved in the administration of these contracts out for a celebration dinner as a gesture of appreciation. Some of WI’s management were initially reluctant to have the dinner celebration as they were not sure if it was ethical to do so, but Calvin assured them that it was not an issue.

Penny’s husband (Henry) was one of the government officers who attended the celebration dinner. At the dinner, Calvin told Henry that as CEO, Calvin has decided to give a pay raise to all its employees as WI’s business has been doing well. Calvin said the pay raise will not apply to him as he is already well paid. Further, Calvin told Henry that he also hopes the pay raise will at the same time incentivise WI employees to work harder and help WI do even better in the future. Henry told Penny about this and she said her former colleagues would be very happy with the pay raise and grateful to Calvin for it.

(a) Discuss the relevant approaches to ethical reasoning and business ethics concepts, and appraise whether there are any ethical issues relating to WI’s actions and which approach to ethical reasoning WI and/or Calvin has adopted (where applicable). [In your answer, you are not required to consider the Personal Data Protection Act.]

(b) Recommend three (3) proposals that WI can adopt to ensure ethical behaviour across its organisation.

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