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Business ethics involves the role of a company in our society.
According to the Miniature Guide to Understanding the Foundations of Ethical Reasoning, “The proper role of ethical reasoning is to highlight acts of two kinds: Those which enhance the well-being of others—that warrant our praise—and those that harm or diminish the well-being of others—and thus warrant our criticism.” I think that is amazing how history seems to always repeat itself....
Another important approach to the study of business ethics comes fromKantian moral theory (D.G. Arnold & Bowie 2003; Bowie 1999).Kant’s claim that humanity should be treated always as an end,and never as a means only, has proved especially fruitful foranalyzing the human interactions at the core of commercialtransactions. In a competitive market, people may be tempted todeceive, cheat, or manipulate others to gain an edge. Kantian moraltheory singles out these actions out as violations of human dignity(Smith & Dubbink 2011).
A Custom Essay Sample On The Topic Of Business Ethics
Many people engaged in business activity, including accountants andlawyers, are professionals. As such, they are bound by codes ofconduct promulgated by professional societies. Many firms also havedetailed codes of conduct, developed and enforced by teams of ethicsand compliance personnel. Business ethics can thus be understood asthe study of professional practices, i.e., as the study of thecontent, development, management, and effectiveness of the codes ofconduct designed to guide the actions of people engaged in business activity. This entrywill not consider this form of business ethics. Instead, it considersbusiness ethics as an academic discipline.
This entry summarizes important research on central questions inbusiness ethics, including: In whose interests should firms bemanaged? Who should manage them? What do firms owe their workers, andwhat do workers owe their firms? What moral rules should guidefirms’ engagement with customers? Should firms try to solvesocial problems? What responsibility do they have for the behavior oftheir suppliers? What role should firms play in the political process?Given the vastness of the field, of necessity certain questions inbusiness ethics are not addressed here.
Sample Essay On Business Ethics In Organizational Design
Developing countries can be damaged by poor business ethics. Large companies neglecting to set a good example of Corporate Social Responsibility actively hinder the progression of all business in developing countries. Outside businesses taking advantage of cheap labour or dominating local markets from an unfair position may make a profit in the short term, however in the long term this is a false economy. The world as a whole is held back by companies operating without business ethics.
Political and legal factors play a vital role and that differentiate from one culture to another that is why I believe that business ethics can never be universal.
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Ethical issues in international business Essay Example …
ethicists seek to understand the ethicalcontours of, and devise principles of right action for, businessactivity. One way of advancing this project is by choosing a normativeframework and teasing out its implications for a range of issues inbusiness.
Business Ethics and International Business Essay Sample
It is important to realize that a resolution of the debate betweenshareholder and stakeholder theorists (however we conceive of thelatter) will not resolve all or even most of the ethical questions inbusiness. This is because this is a debate about the ends ofcorporate governance; it cannot answer all of the questions about themoral constraints that must be observed in pursuit of thoseends (Goodpaster 1991; Norman 2013). Neither shareholder primacy norstakeholder theory is plausibly interpreted as the view that corporatemanagers should do whatever is possible to maximizeshareholder wealth and balance all stakeholders’ interests,respectively. Rather, these views should be interpreted as views thatmanagers should do whatever is morally permissible to achievethese ends. A large part of business ethics is trying to determinewhat morality permits in this domain.
The Role of Ethics in 21st Century Organizations
Ethical theory, including virtue theory and Kantian deontology, is useful for thinking about how individuals should relateto each other in the context of business (cf. Rorty 2006). Butbusiness ethics also comprehends the laws and regulations thatstructure markets and organizations. And here political theory seemsmore relevant (see and cf. Moriarty 2005b; Phillips & Margolis1999). A number of business ethicists have sought to identify theimplications of Rawls’s (1971) justice as fairness—thedominant theory of justice in the English-speaking world—forbusiness. This is not an easy task, since while Rawlsmakes some suggestive remarks about markets and organizations, he doesnot articulate specific conclusions or develop detailed arguments forthem. But scholars have argued that justice as fairness: (1) isincompatible with significant inequalities of power and authoritywithin businesses (S. Arnold 2012); (2) requires people to have anopportunity to perform meaningful work (Moriarty 2009; cf. Hasan2015); and requires alternative forms of (3) corporate governance(Norman 2015; cf. Singer 2015) and (4) corporate ownership (M.O’Neill & Williamson 2012).
The Importance of Ethics in Business Essay; ..
In the business ethics literature, French is a seminal thinker on thistopic. In early work (1979, 1984), he argued that firms are morallyresponsible for what they do, and hence should be seen as“full-fledged” moral persons. He bases this conclusion onhis claim that firms have internal decision-making structures, throughwhich they (1) cause events to happen, and (2) act intentionally. Someearly responses to French’s work accepted the claim that firmsare moral agents, but denied that firms are moral persons. Donaldson(1982) claims that firms cannot be persons because they lack importanthuman capacities, such as the ability to pursue their own happiness(see also Werhane 1985). Other responses denied that firms are moralagents (also). Velasquez (1983) argues that firms lack a necessarycondition of agency, viz., the ability to act (see also his 2003). Inlater work, French (1995) recanted his claim that firms are moralpersons, though not his claim that they are moral agents.
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