1. Business Ethics
"What is ethics?" Simply put, ethics involves learning what is right or wrong, and then doing the right thing, but "the right thing" is not nearly as straightforward as it seems to be. .
"Ethics is the careful study of standards of behavior that apply to real-world problems and decisions. It gives us insights into what we should do." .
The minute we put the word "should" in a sentence, we are probably talking about ethics. Colleges should (or should not) take race into account in admissions. Health care coverage should (or should not) be a substantial part of the state budget. Although ethics deals with right and wrong, it is not a discipline that always leads everyone to the same conclusions. It is not the captive of liberals or conservatives. .
Of course, there are situations that are wrong by any standard. The recently reported advise given by former Enron Chairman Kenneth Lay to the investors to hold on their investments in the company while he himself kept selling the shares of the company is a case in point. But there are other issues where right and wrong is less clear. To guide our reflection on such difficult questions, philosophers, religious teachers and other thinkers have shaped various approaches to ethical decision-making. .
Many philosophers consider ethics to be the "science of conduct." Ethics includes the fundamental ground rules by which we live our lives. Philosophers have been discussing ethics for at least 2500 years, since the time of Socrates and Plato. Many ethicists consider emerging ethical beliefs to be "state of the art" legal matters, i.e., what becomes an ethical guideline today is often translated to a law, regulation or rule tomorrow. Values, which guide how we ought to behave, are considered moral values, e.g., values such as respect, honesty, fairness, responsibility, etc. Statements around how these values are applied are sometimes called moral or ethical principles.
" Great ethics can be summed up as good for business in the long term. ... Business ethics is necessary for the foundations of corporations. ... We take for granted the reality that ethics does exist as we take the world of business as inclined. ... Business ethics is not a commodity, which remains in an isolated compartment from business itself as a lofty and consequently expendable extra. ... Its soul purpose is to clarify the entirely realistically, practical business like role that ethics play in business practices. ...
As a result, it can be claimed that natural moral law cannot be applied to issues of business ethics. ... Business ethics does not often involve clear cut decisions between right and wrong; more often than not businesses are concerned with balancing the interests of shareholders, with those of employees and customers. Therefore, it can be maintained that the absolute principles of natural moral law are not useful when applied to the complex issues raised by business ethics. ... It is the narrow nature of these precepts that present one of the initial problems encountered when applying natural...
Introduction Are business ethics merely a fashion? ... Or is business ethics something more complicated, ore involved in the society in which business operates? ... So where does business ethics fit into all this? ... Business ethics can be a difficult concept to grasp. ... It provides a complex and involved resource for business ethics. ...
Executive Summary 2.Theoretical Approaches to Business Ethics 3. ... References Executive Summary Ethics in business has been an issue as long as exchange and business have occurred. ... There is an acceptable relationship between ethics in business and business ethics for the last is at one and the same time, pundit, faultfinder, scholar and prophet on the previous. ... Introduction Business ethics (likewise business ethics) is a kind of used ethics or professional ethics that analyzes moral principles and moral or honest troubles that develop in a business setting. ... Business ethics has ...
As Wartick & Wood assert, "Business ethics is based upon some normative concepts about they way business should operate" (Wartick & Wood, 1998, p. 124). Since this day and age we are living in, business practices mostly seem to be publicized as unethical, the word "should" that is emphasized in Wartick and Woods definition of business ethics stands out. People tend to be more apt to uphold a higher code of ethics in a personal or societal context, as opposed to a business context. ... The formal code of ethics comes in various forms, such as vision and mission statements, and written polic...
BUSINESS ETHICS Ethics to me means having and using ones morals to do the right thing. Ethics is so important in business because it gives a company credibility. ... Ethics has such a big impact on whether a business is a success or a failure. ... Reverence for place Ethics is like the foundation for a successful business. ... The business world would cease to exist without ethics to keep businesses on the straight and narrow. ...
These are all questions asked constantly in the business domain, questions that often seem to include the many different views of ethics in their answer. ... If ethics within the marketplace should be common sense as well as common practice, why is it that in today's society, we often find ourselves looking for a more ethical approach to our business organizations and practices? ... One of the most heated arguments in business ethics today is where greed and profitablitiy should end and ethics should begin. ... Advocates for ethics in business argue that often inhereit with greed i...
Can really define ethics? According to Webster dictionary ethics can be defined as "a system of moral principles" (Webster dictionary). ... Both ethics and morals are using when evaluating any type of business and different situations that can occur within a business. ... How a business communicates with the customers is always important because the customers keep the business growing. ... The business's job is to keep the business going and to meet the needs of all customers. ...