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According to Wikipedia, ethics, also known as “moral philosophy”, is a branch of philosophy that addresses questions about morality. Concepts such as good and bad, noble, right and wrong, justice and virtue. To business, ethics is a tool to examine principles and moral or ethical problems that arise in a business environment. Therefore, business ethics can be both a normative and a descriptive discipline. Ethics is a part of the larger social ethics, and also always affect business development. In other words, business ethics is a factor of determining the fundamental purposes of a company. Marketing ethics is a subset of business ethics. Because in marketing, ethics deals with the principles, values and ideas by marketers; it shows how they behave in business cases. Marketing ethics affects other processes of business. Visual communication is part of marketing ethics, it is observed and serves as an instrument of epistemic closure restricting worldviews with stereotypes of gender, social status and race relationships. Pricing is how firms work out price between produce processing and customers, Anti-competitive practices with supply and chains, Content of advertisements, like products regarded as immoral or harmful to public. Children and marketing could be concerned in this case. Children is a weak group and should get more protection in business sales action.
In fall 2008, China’s baby milk crisis was about thousands of Chinese babies have developed kidney stones after drinking milk contaminated with melamine. An industrial chemical has highlighted the need for the country to improve detection standards for chemical contaminants in foods. In this case, the milk’s company failed to study ethics, instead of seeking profit wit...
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...h person has grown up with a particular cultural background and their own understanding of right and wrong. From a businessperson’s point of view, Social factors also play and important part and so does education and up bringing it. To firms, it has significant meaning to promote ethical spirit with business development. Because ethics is a primary element to all business, ethical is an essential part of the foundation in society. A business or society that lakcs ethical principles is bound to fail sooner or later.
References
• www.wikipedia.com ( vocabulary & definition search)
• CCTV4 “Face to Face” TV Program ( Statistics approve)
• Shang Hai University Survey ( Published by China daily )
• Financial Time ( Resources& Example)
• (Published by Zhang Ruimin, CEO of Haier)
• www.baidu.com (Resources&Example)
Ethics is discovered by a Greek philosopher named Socrates, he viewed ethics as knowledge as the right reasons to make during any situation supported by the right reasons. Ethics is how an individual behaves, it is also the standards of behavior which can promote human welfare and also ‘The Good’, this extends to animal welfare, the physical environment and how an individual serve human welfare. Ethics is also how we treat one another and even the people we don’t really know like strangers etc. What ethics is not? Ethics is not feelings and not what other people do. While business carry an almost similar concept from ethics but in the field of business. It’s how we behave in the field of business as business men and women. Business ethics is
Ethics is a principle or a moral value every business should have. The way a business runs keeping in mind how the workers are being treated, how its products affect people and whether or not it’s is sustainable in the environment falls under
Business ethics are moral principles on how a business should behave. Law regulations play a crucial factor in business and generally a business should establish a trust relationship by taking into consideration the needs of stakeholders, shareholders and the government. (http://businesscasestudies.co.uk/anglo-american/business-ethics-and-corporate-social-responsibility/what-are-business-ethics.html#ixzz2z4gH4Vl9)
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).
According to BusinessDictionary.com, ethics are “the basic concepts and fundamental principles of decent human conduct. It includes study of universal values such as the essential equality of all men and women, human or natural rights, obedience to the law of land, concern for health and safety and, increasingly, also for the natural environment” (Ethics, 2015). For entrepreneurs, ethics help determine decisions on a daily basis, but ethical choices not always simple. Unethical decisions do not always present any obvious consequences, so when faced with the temptation of making more money or making money faster, it can be difficult to stay true to good intentions.
Business ethics are part of ethics and are essentially the applied ethics. Business ethics are the practical in nature and are derived from various approaches of ethics. These four approaches have strong influence of business ethics. Like the rights approach in business ethics means behaving so as to protect the moral rights of the people involved such as employees and customers. Virtues approach in business ethics aims at operating in a virtues manner i.e. the businesses should obey laws, respect its customer, and be responsible towards its all stakeholders (Wolf & Theodora, 2015). Feminist approach motivates businesses to be equal opportunity employer and to recognize the rights of females (Sterba, 2000). The common morality theory is reflected in the corporate social initiatives being followed by companies these days. As the businesses operate in society and derive its resources from society itself, hence the businesses should behave ethically for the common good of the
The over-reaching question however is what is ethics? Ethics is defined as, an area of study that deals with ideas about what is good and bad behavior: a branch of philosophy dealing with what is morally right or wrong (Merriam-Webster, n.d.). Granted this a rather broad definition. However, ethics are the cornerstone upon which businesses must be built on.
Explain the connection between the economic model of corporate social responsibility and “free market” or “neoclassical” economic theory.
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
Business ethics is a very broad term and widely used throughout the world. The term “business ethics” first started to be used in the United States in the early 1970’s as businesses were growing bigger and more powerful. Business ethics are guidelines or behaviors that businesses and individuals use daily to deal with the world, and even smaller situations they might find themselves in. Race, gender, age and religion all play a role in a person’s ethics. The most important factor in a person’s perspective of business ethics is religion, because there are so many different religious views. Buddhists follow the teachings of Buddha to help with their ethics in business. Christianity uses the Ten Commandments and the teachings of Christ to classify their ethics. The Jewish faith uses the Torah, while Muslims use the Qur’an and the teachings of the Prophet Muhammad to explain their views on business ethics.
By definition, ethics refers to "a set of principles of right conduct." It is also defined as "the rules or standards governing the conduct of a person or the members of a profession," (www.thefreedictionary.com) and in business may be considered the standards governing the conduct of people in the business environment. Business ethics is the behavior that a business adheres to in its daily dealings with the world. It relies on values as a way of guiding behaviour in business.
Ethics is concerned with the study of morality and the application of reason to elucidate specific rules and principles that determine right and wrong for a given situation (Crane & Matten, 2010). Since law does not necessarily cover the morality of many controversial issues, moral reflection ought to be performed on any action, regardless of its lawfulness. The growing power of business in today’s society has enabled businesses to significantly impact the world. Hence, business ethics is highly relevant as it could determine whether businesses contribute or cause harm to the society at large.
The textbook defines business ethics as “the accepted principles of right or wrong governing the conduct of business people.” Business ethics also govern the members of a profession and the actions of an organization. Many organizations put into place an ethical strategy which is “a course of action that does not violate accepted principles.” These principles are used to guide organizations and employees to make the right decisions.
Ethics is the study of right or wrong and the morality of the choices that individuals make. That basicly means the set of morals or responsibility that a person, group, or field have. Ethics can also be classified as code of morals. In business there are ethics that portray to business. These are called business ethics, business ethics just happen to be the application of ethics, morals, into the business field. Some examples of business ethics are obeying all rules and regulations even when nobody 's looking, which is pretty self explanatory, you shouldn’t be breaking rules. Even if it is as simple as washing your hands after you use the restroom or straight up lying to your customers, they are the ones making you money so if they find out
Ethics are moral principles or values that govern the conduct of an individual or a group.It is not a burden to bear, but a prudent and effective guide which furthers life and success. Ethics are important not only in business but in academics and society as well because it is an essential part of the foundation on which a civilized society is built.