Task 1 – Evaluate the advantages and disadvantages of deontology and discourse ethics (Fisher, Lovell, and Valero-Silva, Chapter 3). Use these approaches to evaluate how they could be used by the manager in making a decision as to whether BASF should go ahead with building the factory at Beaufort Country Park.
Business Ethics?
Business ethics are moral principles that distinguishes right from wrong and help determines an individual’s action as well as guide the way a business behaves. Oxford Dictionary of Economics definition of business ethics states it as ‘the study of what standards business should observe in their dealings over and above the compliance with the letter of law’. From this, it can be assumed that following the law, although a key starting point, might not be enough in order to behave ethically but it might be require to give up some business interests. Business try to meet this demand by setting out their core values and standards in their own statement of Business Principles. As well as this, many companies have created voluntary codes of practice that regulate practices in their industrial sector. These codes are drawn up in consultation with governments, employees, local communities and other stakeholders.
Business have greatest of opportunities to transform people’s lives and to build the stepping stone in eradicating poverty through generating economic growth. All companies need to make a profit and it must be recognised that this objective must be taken into account of ethics. A business therefore, must keep in tune with the wishes of the societies it serves or it runs the risk of alienating its shareholders/stakeholders and customers. This would be bad for business, as it might reducing growth and potent...
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...demands and is considered the highest moral principle or Categorical Imperative. Kant believed that failing this deems the action immoral. From a deontological views the BASF manager in Scenario 1, should not go ahead with building the factory at Beaufort Country Park as the manager and in extension the company would not behave in an ethical manner. Having said this, it would be possible to use discourse ethics to communicate with the developers’ to try to achieve a common ground, which is ethical. Perhaps, the ideal situation would be to have an open dialogue between the communities of Beaufort County, including potential worker, the Governor of South California and the ‘Hilton Head’ developers as well as their frequent visitors. Through an open and honest discussion, there might be a possibility for the BASF plant to open in the coast of South Carolina?
References
Ferrell, O. C., Fraedrich, J., & Ferrell, L. (2011). Business ethics: Ethical decision making and cases: 2011 custom edition (8th ed.). Mason, OH: South-Western Cengage Learning.
...d, thus being moral is a matter of following God rules. In the case of the disposal, withholding information in order to preserve their profits and minimizing their costs was lying, which was a violation of the rights of the people living on the community. The companies benefited from the people living at Woburn not only by using them to produce their goods, but also to hide the evidence of their illicit acts, clearly violating the Kantianism principles of telling the true and taking advantages of others. In the case of the plaintiff’s lawyer was also observable that money mattered more than the truth this was exemplified by Jan words: “the whole idea of a law suit is to settle or compel the other side to settle. You do that by spending more money than you should obligating them to spend more money than they should……” fact that also violated the deontology approach.
According to Business Ethics Definition, business policies and practices regarding potentially controversial issues, such as corporate governance, insider trading, bribery, discrimination, corporate social responsibility and fiduciary responsibilities.
(Mallor, Barnes, Bowers, & Langvardt, 2010) Business ethics is when ethical behavior is applied in a business environment, or by a business. There are many situations that can arise in which a person is experiencing an ethical dilemma. They have to choose between standing by their own personal ethical standards or complying with their companies ethical standards. In some instances, some have to choose whether to serve their own personal interests, or the interests of the company.
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...
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).
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.
The term “ethical business” is seen, by many people, as an oxymoron. This is because a business’s main objective is to make as much money as possible. Making the most money possible, however, can often lead to unethical actions. Companies like Enron, WorldCom, and Satyam have been the posterchildren for how corporations’ greed lead to unethical practices. In recent times however, companies have been accused of being unethical based on, not how they manage their finances, but on how they treat the society that they operate in. People have started to realize that the damage companies have been doing to the world around them is more impactful and far worse than any financial fraud that these companies might be engaging in. Events like the BP oil
To provide an example of a breach of ethical conduct in the workplace, we may remember the case of a financial manager in a corporation that decided not to pay overtime to some employees. After a deep outside investigation, the company was summoned with thousands of dollars to remedy the payment that was supposed to be paid to all employees who worked more than forty hours per week. Again, it is needed more than just a booklet stating that the company adheres to the code of business ethics. It is needed serious managers that can run the company with the most seriousness as possible. Consequently, any written codes of business ethics, regardless of how well it has been crafted, need people that adhere to its internal content with a serious desire to do the right thing.
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.
Business ethics are a set of moral rules that govern how a business operates, how people should be treated within an organization, and how business decisions are made. They are a crucial part of employment and in managing a sustainable business, mainly because of the serious consequences that can result from decisions made with a lack of regard to ethics. Even if you don’t believe that good ethics don’t contribute to profit levels, you should realize those poor ethics have a negative effect on your bottom line in the long-run. Every business in every industry has certain guidelines to which its employees must stick to, and regularly outline such aspects in employee handbooks.
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.
Ethical business practices include assuring that the highest legal and moral standards are observed in your relationships with the people in your business community. This includes the most important person in your business, your customer. Short term profit at the cost of losing a customer is long term death for your business.
Business Ethics are much more than the buzz word stories on late night news. The Corporate Social Responsibility of a company goes well beyond that. “Business Ethics are moral guidelines for the conduct of business based on notions of what is right, wrong and fair.” (Bellow, 2012). Individual backgrounds play a huge role in person by person code of conduct can vary from employee to employer. To help solve some grey areas in what is ethically correct, companies now make a code of conduct that is over everyone in the company. This code of responsibility helps employees have better understanding of what is required of each and every one of them. “Corporate Social Responsibility is a business philosophy which stresses the need for
The module has analysed business-society relations through the theories and practices of business ethics and social responsibility and how business ethics has evolved from theoretical frameworks as to how business should be managed.