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The role of business ethics in the corporate world
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Companies are faced with difficult decisions they have to make on a daily basis and Pegasus International Inc. is no exception (Freeman, 1991). In attempt to make the right choice, business ethics are implemented; which states the human conduct that is wrong or right in a business context (Shaw, 2011: 8)
A moral or ethical dilemma is when an agent must make a decision between two ethically compromising choices (White Hat Communications, 2014). In this scenario, Oswald faces a moral dilemma because he has to make a choice whether or not to expand the company by operating in China (Hackworth & Shanks, 2007). To operate in China, Oswald needs to pay off the Chinese authorities, and Oswald will have to disclose that the business is not a part of any bribery activities dishonestly (ibid).
A question Oswald will have to ask himself is also a question frequently asked in normative ethics: “What is the ethically right thing to do and how is it justified?” (Encyclopædia Britannica Inc, 2014).
At stake for Oswald and his company are a 100 million-dollar deal and the integrity of the company’s ethically correct reputation (Hackworth & Shanks, 2007). The clashing alternative actions Oswald are confronted with differs in moral rightness and the quality of the result of the action (CIMA, 2010). Oswald is morally obliged not to operate in China but at the same time, he is obligated.
This essay will discuss the ethical approach of utilitarianism that will help Oswald to choose the right action for him so that the company’s ethical reputation will not be ruined and the company will still be successful. There will be a critical evaluation, which assess Oswald’s situation and clearly discuss what appropriate actions needs to be taken by Oswald b...
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...Britannica Academic Edition: http://www.britannica.com/EBchecked/topic/418412/normative-ethics
Freeman, R. E. (1991). Business Ethics: The State of the Art. New York: Oxford University Press, Inc.
Gowdy, L. (2013, October 15). Virtue Ethics. Retrieved from ETHICS: http://www.ethicsmorals.com/ethicsvirtue.html
Hackworth, M. L., & Shanks, T. S. (2007). The Case of the Million-Dollar Decision. Markkula Center for Applied Ethics.
RSRevision. (2011). Utilitarianism: Criticisms. Retrieved from rsrevision.com/ethical theory: http://www.rsrevision.com/Alevel/ethics/utilitarianism/strengths_weaknesses_utilitarianism.pdf
Shaw, W. H. (2011). Business Ethics 7th edition. Boston: Wadsworth.
White Hat Communications. (2014). What Is an Ethical Dilemma? Retrieved from The New Social Worker: http://www.socialworker.com/feature-articles/ethics-articles/What_Is_an_Ethical_Dilemma%3F/
This paper is an analysis of the ethical business decision matrix developed by The George S. May Company (May), a management-consulting firm. The paper will also compare how these guidelines were used by John D. Beckett (Beckett) in his company and how the author’s firm, PricewaterhouseCoopers, LLC (PwC), uses them. The guidelines are meant to be used by employees. These guidelines are specifically a measure of moral and ethical principles tied to business ethics in acceptability of right and wrong behaviour in the workplace.
Throughout this paper I will examine three different ethical views and interpret the ways in which one would respond to the scenario at hand. The initial ethical view is composed of cultural relativism. Another view is Kantian ethics. The final view involves utilitarianism. When presenting these views, I will describe each ethical view, and also I will speak abouts how a person who abides by the given ethical view would respond to the situation.
Brooks, Leonard J. Business & Professional Ethics for Directors, Executives, & Accountants. Mason: Thompson South-Western, 2004. p227.
Trevino, L. K., & Nelson, K. A. (2011). Managing business ethics: Straight talk about how to do it right. New York: John Wiley.
Trevino, L., & Nelson, K. (2011). Managing business ethics - straight talk about how to
Ferrell, O. C., Fraedrich, J., & Ferrell, L. (2013). Business ethics: Ethical decision making and cases: 2011 custom edition (9th ed.). Mason, OH: South-Western Cengage Learning.
Verschoor, CMA, Curtis C. "Ethics: Do The Right Thing." Strategic Finance (2006). Retrieved on 18 September 2006 .
An ethical dilemma is a form of problem facing an individual, which includes complex and often conflicting principles of ethical behaviour. A typical example of an ethical dilemma is a salesman; when selling a certain type of product he may face the dilemma of telling the truth about a product and end up losing a sale and his commission. However, he may feel that being truthful reveals he wants the best for the customers and is being more considerate about them. It all depends on how you deal and understand a situation.
When traveling in the Himalayas, the author of The Parable of the Sadhu, Bowen H. McCoy is faced with a difficult and ethically perplexing dilemma when he encounters the hapless sadhu on one of the less taken paths near the summit of the mountain. Afterwards, McCoy’s reflection of the events that occurred, as well as his colleague, Stephan’s response, makes him question whether what he did was ethical or unethical. Through the ethical guidelines of the Golden Rule and the Public Disclosure Test McCoy’s decision can be analyzed thoroughly. McCoy also compares his choice to corporate ethics decisions, which makes him think if corporations are actually ethical in their decision-making. While other might disagree, such as Stephan, McCoy made the
Jennings, M. (2009). Business ethics: Case studies and selected readings (6th ed.). Mason, OH: South-Western Cengage Learning.
Everyone in this world has experienced an ethical dilemma in different situations and this may arise between one or more individuals. Ethical dilemma is a situation where people have to make complex decisions and are influenced based on personal interests, social environment or norms, and religious beliefs (“Strategic Leadership”, n.d.). Leaders and managers in the company should set guidelines to ensure employees are aware and have a better chance to solve and make ethical decisions. Employees are also responsible for understanding their ethical obligations in order to maintain a positive work environment. The purpose of this case study is to identify the dilemma and analyze different decisions to find ways on how a person should act ethically when left with an ethical dilemma.
Treviño, L. K., & Nelson, K. A. (2007). Managing business ethics: Straight talk about how to do it right Fourth ed., Retrieved on July 30, 2010 from www.ecampus.phoenix.edu
From a managerial perspective, the ethical problems manifested in the arena of international business represent real ethical dilemmas for the contemporary managers as they generate, at least on a short term, a conflict between the organizational economic performance (evaluated by measuring the turnover, the costs and the profits) and its social performance (evaluated by measuring the ethical responsibilities to the people outside or inside the organization) (Hosmer, 1987, p.3).
This paper will examine this ethical dilemma further, including why it is an important issue...
[2] An Ethical dilemma is defined as “a situation that arises when all alternative choices or behaviours have been deemed undesirable because of potentially negative ethical consequences, making it difficult to distinguish right from wrong” (Samson and Daft, 2005, p.158)