Outline :
A) General overview.
B) Utilitarian theory.
C) Kant theory.
C) Rawls theory.
D) Conclusion.
Foreword:
This research paper discusses theories in business ethics. It also considers three cases that illustrate ethics principles violation.
Thesis:
Nowadays in the era of economic relations and international trade business ethics plays a very important role.
Nowadays in the era of economic relations and international trade business ethics plays a very important role. It is of vital importance at any level of activity: corporate, state or international. Questions of corporate social responsibility and business ethics are engaging business more and more - both domestically and internationally (Sims 2006). This tendency is emphasized by outrageous cases in international trade illustrated by violating rules of ethical behavior. Rules and regulations on ethics and behavior are affected unavoidably by basic values about the goal of company in the community. However, some organization members think the only social goal of a company is to gain benefit. On the other hand, other members consider that that the goal of a company is much wider than one of gaining profit and that all those participants who are influenced by the firm's activity - shareholders, staff, consumers, suppliers, the domestic society, babies (in particular concerning environmental protection) - have a reasonable concern and commitment in the corporate activity. Many of these commitments are important to a company whether it is domestic or international in its activity. Nevertheless, international companies face specific difficulties and requirements and above those operating only in local market.
The first situation we were given to c...
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...ies to accord with the bounds of justice" (Megan 2006).
More and more corporations carry out international operations as a routine of their everyday functioning. However, the situation is complicated by the differences in cultural values and behavior. To hold its goodwill and reputation a company must follow business ethics principles. Sometimes the owners of the corporations ignore ethics rules and regulations that causes unfair practice in business. I should admit that unfair practice is more spread in business sphere than just operation.
Bibliography
1. Egland, L. (2006). Business Ethics. Retrieved February 26, 2008 from http://exchanges.state.gov/forum/journal/bus1background.htm
2. Megane, C. (2002). Rethinking Business Ethics: a Pragmatic approach, NY. Routlage.
3. Sims, R.R. (2006). Teaching Business Ethics for Effective Learning. London, Westport.
Economic activity always has an ethical aspect. No matter what type of business is taking place there is always an aspect of ethics. A business transaction occurs when people exchange a product or service for money. If the exchange is fair then both parties benefit and therefore both parties’ interests are served. Therefore this interaction between parti...
In the business field, there are many different ethical issues. The main problem that will be addressed is fundamental issues within a company. This problem not only will affect consumers, but also the business itself. Businesses will face ethical issues such as, trust and integrity, which may be dealt with through the terms of Kantian ethics and Utilitarianism. Having ethics in the workplace is essential because they give good guidelines and laws that will help the internal functions of a business, yet there are still disagreements on whether or not businesses should be allowed to exaggerate the truth while trying to sell a product.
In today’s global society, a Code of Ethics policy is used to label established, acceptable behaviors among that industry’s business associates, potential investors, and the corporation’s executive officers and employees, and most important, the consumer (Ethics Resource Center, 2003). In an attempt to promote an increased efficiency and productivity potential level, among employees and prospective clients, a corporation’s standard Code of Ethics should guide its members toward a more in-depth examination of their personal moral activity, and how these actions affect the people or acquaintances they encounter. A company should utilize this strategy as a model for the professional behaviors and responsibilities of its constituents, and proves the occupational advancement of that business. Ethics are important in every level of a corporation, but specifically in the day-to-day actions of its members, and the image the company broadcasts to its associates is fundamental in building a stable business foundation. These pledges are a vital communication tool used to covey the firm’s standards for business operations, and predominantly, its relationships with the surrounding communities (Ethics Resource Center, 2003).
Incorporating ethics into everyday decisions in the business world can greatly reduce the scandalous behavior that has as of late has run ramped. Obviously, we have seen the results and consequences of business conducted absent any moral or ethical boundaries. When decisions are made without the consultation of ethics there is no direction from the moral compass and surely consequences will follow. Choices contemplated by managers may often seem difficult, but assessing the options against ethics can assist the manager in making the best decision.
Business ethics are the moral principles that describe the way a business behaves. Because businesses are treated as “persons”, it can be said that the same principles that determine an individual’s actions can also apply to business. Making ethical choices involves distinguishing between right and wrong, and then making the right choice; and while it can be easy to identify unethical business practices, such as using child labor or not paying employees properly, good ethical practice can be harder to define simply because what is deemed right is not always universally accepted. In other words, everyone has a unique moral compass, and can see black and white as different shades of gray. In the face of this, every business holds corporate social responsibility to act fairly for their employees’, stakeholders’, and sometimes even the earth’s sake. However, whether or not the business adheres to this ethical paradigm varies.
Business ethics simply can be defined as the application of business values in the business practice of a company (Seawell 2010, p. 2). For a multinational company, business ethics is one of the critical aspects need to be taken into account in business decision-making processes. Failure to give attention on ethics may bring consequences on company’s reputation (Meyer & Jebe 2010, p. 159). The company is expected not only to pursue its own profits but also contributing to the environmental and social welfare of the community where it operates (Svensson & Wood 2008, p. 308).
Business ethics problems can be identified mainly as wrongful harms, misallocations, and misappropriations. These categories are commonly employed in economics, finance, and corporate law in the analysis of various kinds of problems, which are usually attributed to market failures, imperfect contracting, and other causes. However, many of these other kinds of problems arise from larger economic and political forces that would affect any theory of the firm.
Explain the connection between the economic model of corporate social responsibility and “free market” or “neoclassical” economic theory.
In this paper, I will attempt to discuss what should be the norm for international business and optimal resolution for ethical dilemmas that all multinational organizations should adhere to as part of its normal conduct of business. Furthermore, I will discuss how to resolve the dilemma around fair wages paid to its employees, keeping the organization sensitive to various international cultures it operates in and to not let any local corruption and bribery shadow the good efforts and image of the organization.
Business ethics play an important role in guiding the employees about the company standards and rules. In today’s competitive market environment, companies are not following business ethics in order to earn more money. In this case study analysis, issues of business ethics are identified and also various alternatives are recommended in order to solve issues.
Ethics. Business ethics are moral principles that outline how a business is to perform. Often times, companies will help their employees understand what code of ethics they want them to perform by implementing company policies. One of the dilemmas involving business ethics is that there is not always a clear ‘right’ or ‘wrong’ answer. Because of this, sometimes business will develop an ethics training class specific to the company. This could be helpful for employees to have so they know how to handle specific issues that could arise in the workplace. Another issue that often arises within businesses is globalization. Many companies are global and operate companies across the world. However, each country tends to have their own code of ethics
Ethical decisions making can be more challenging from country to country because of cultural variations. One thing may be acceptable in one’s country, but it is not acceptable in another country. Managers have to be able to address that issues and to keep a unique ethical climate market that is acceptable globally. Ethical rules for international firms should be conventional; meaning, the same way that 2+2 = 4 everywhere. For example, the international professional ethics for auditors are similar those of the United States. It requires auditors to be competent and independent. Nowadays, foreign firms can have far-reaching consequences for the decisions they make. For instance, the financial crisis in 2008 that occurred in the United States
Ferrell, O. C., Fraedrich, J., & Ferrell, L. (2011). Business Ethics: Ethical Decision Making and Cases. Mason, Ohio: South-Western Cengage Learning.
In the business world there are many fundamental aspects and situations that can lead to several issues. In order to find an optimal and professional solution, business decision makers need to apply moral and ethical standards. And it is at that moment in which business ethics perform its role. Business ethics, which is in charge of examine how companies and individuals should act in business situations, is very essential in order to reach a common agreement and to work within the laws of business and solve an arisen dilemma. Working of the hand of ethical business companies, employees, investors, directors, and even individual officers can be beneficiated and obtain most favorable outcomes.
Business ethics can be interpreted in various ways. Therefore, it comes as no surprise that there are many different definitions of business ethics. The most generally acknowledged definition states that business ethics “is a set of corporate values and codes of principles, which may be written or unwritten, by which a company evaluates its actions and business-related decisions.” It should be mentioned here that business ethics is not only relevant to the conduct of the company as a whole, but also to the conduct of individuals within that company. Besides, it applies to all aspects of business conduct.