Business Ethics Essay

1668 Words4 Pages
bulb-icon

Recommended: Importance of ethics in organization

Question 1: Explain the importance of ethics and values in business sustainability.

A business without ethics would never be able to exist in the corporate world; there would be no control or any hierarchy of management the business would eventually fall apart.

Ethics can be described as the human values that describe how one should live when keeping in mind what is seen as ‘correct’ behaviour in society’s eyes.
Business ethics is described as the study of how personal values and principles are applied in a business situation.
Values can be defined as attitudes that organisations or society’s establish themselves with. There are different types of ethics, for example; descriptive normative and analytical ethics.
Descriptive ethics is …show more content…

A business must also concentrate on their employees because employees are more productive when there is a balance between personal and professional life, as a result the business will act more ethically in the corporate world. Another concern is bad publicity which has a very negative impact on the business, as a result the business must play according to the unwritten and written rules. A business should be responsible and play by the rules set out without being forced by the law or …show more content…

Leadership is needed to overlook a company and all transactions that happen underneath that specific leadership type. Without leadership yet again there will not be any control over the employees that work in the company and an organisation will not be able to operate in the corporate world.

A widely accepted definition of leadership is:
“...the art of motivating a group of people to act towards achieving a common goal. Put even more simply the leader is the inspiration and director of the action. He or she is the person in the group that possesses the combination of personality and skills that make others want to follow his or her decisions.”

Source: http://www.sbinfocanada.about.com/od/leadership.html

First we have to differentiate between leadership and management.
A manager is granted authority when appointed to a specific position.
A leader is someone that shares his vision and inspires others to carry it out.
The distinction is thus that the manager has power due to the position he holds (appointed by the organisation) while the leader has power due to his (perceived or real) expertise. It is critical that the manager should also be a

Show More
Related

  • Tobacco Industry Ethics Essay

    961 Words  | 2 Pages

    Ethics: while defined by Merriam-Webster dictionary as “the discipline dealing with what is good or bad [through] moral duty”, this concise phrase does not seem to encompass the word’s full connotation. The way ‘ethics’ is defined in the dictionary alludes that there is a black-and-white answer to whether an action, belief, or opinion is ethical. Unfortunately, when applying this term to real life, decisions are almost never as clear cut as right or wrong. Why then, are we so quick to judge things as right or wrong, good or bad, ethical or unethical?

    Read More

  • Lack of Ethical Behavior in the Cases of Bernie Madoff and Enron

    669 Words  | 2 Pages

    (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.

    Read More

  • Is Puma Inc an Ethical Company?

    1818 Words  | 4 Pages

    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).

    Read More

  • Difference Between Unethical And Unlawful Behaviour In The Business Context

    1018 Words  | 3 Pages

    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.

    Read More

  • Ethics in Business Decision Making

    986 Words  | 2 Pages

    The field of ethics (or moral philosophy) involves systematizing, defending, and recommending concepts of right and wrong behavior (Fieser, 2009). Many of the decisions one faces in a typical day could result in a multitude of outcomes. At times it can be hard to determine whether or not the decision you are making is an ethical one. Many philosophies have been devised to illustrate the different ways of evaluating moral decisions. Normative ethics focuses on assessing right and wrong behavior. This may involve reinforcing positive habits, duties we should follow, or the consequences of our behavior (Fieser, 2009). Of the many normative philosophies two stand out to be most accepted; teleology and deontology. Although they oppose each other in how actions are evaluated, they uphold many similar characteristics under the surface.

    Read More

  • Ethical Issues in Business

    1834 Words  | 4 Pages

    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.

    Read More

  • Ethics And Ethical Systems

    1378 Words  | 3 Pages

    As a function, ethics is a philosophical study of the moral value of human conduct, and of the rules and principles it should govern. As a system, ethics are a social, religious, or civil code of behavior considered correct by a particular group, profession, or individual. As an instrument, ethics provide perspective regarding the moral fitness of a decision, course of action, or potential outcomes. Ethical decision-making can include many types, including deontological (duty), consequentialism (including utilitarianism), and virtue ethics. Additionally, subsets of relativism, objectivism, and pluralism seek to understand the impact of moral diversity on a human level. Although distinct differences separate these ethical systems, organizations

    Read More

  • The Importance Of Business Ethics In Japan

    1083 Words  | 3 Pages

    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.

    Read More

  • Ethics In The Workplace

    1936 Words  | 4 Pages

    Ethics are the driving force behind good business. Every ethical choice made by a professional can and will have a much different outcome than any unethical choice. Bad ethics can ruin many aspects of a business and as (Gaye-Anderson, 2007) states how quite easily the lives and professional reputation of the employees can even be severally damaged (para. 3). Everything from morale to motivation can be severely affected by poor ethical choices. Customers will take their business elsewhere. Employees will abandon ship. Other, competing businesses reap the benefits of the bad moral choices. Ultimately, the entire business can be brought down by one poor ethical choice.

    Read More

  • The Importance of Ethics in Society

    874 Words  | 2 Pages

    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.

    Read More

  • Niccolo Machiavelli's The Prince

    793 Words  | 2 Pages

    In modern day, businesses measure prosperity by their ability to earn profit and revenues; however, there are limits to how a business should run for their personal gain. This is where ethics comes in the matter. Ethics are an important requirement for human life because they establish an individual’s moral judgements between right and wrong. Humans are guided to organize their goals and values to the degree of their importance through ethics. With that said, ethics are just as necessary in business practices.

    Read More

  • Managerial Ethics

    1607 Words  | 4 Pages

    [1] Ethics is defined as “the code of moral principles and values that governs the behaviour of a person or a group with respect to what is right or wrong” (Samson and Daft, 2005, p.158)

    Read More

  • The Characteristics Of Moral And Ethical Reasoning In Business Ethics

    1085 Words  | 3 Pages

    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.

    Read More

  • Ethics in the Modern World

    1524 Words  | 4 Pages

    Ethics is a system of moral principles and a branch of philosophy which defines what is acceptable for both individuals and society. It is a philosophy that covers a whole range of things that have an importance in everyday situations. Ethics are vital in everyones lives, it includes human values, and how to have a good life, our rights and responsibilities, moral decisions what is right and wrong, good and bad. Moral principles affect how people make decisions and lead their lives (BBC, 2013). There are many different beliefs about were ethics come from. These consist of; God and Religion, human conscience, the example of good human beings and a huge desire for the best for people in each unique situation, and political power (BBC, 2013).

    Read More

  • The Importance Of Ethics In Business

    1265 Words  | 3 Pages

    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

    Read More

More about Business Ethics Essay

Open Document