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Business Ethics
In today’s business world, organizations have an effect on many people especially in the working class of our society. They have an obligation to their employee, customers, society and the world to set a good sample of an ethical environment. It is their responsibility to conduct business in a way that is not harmful and which positively benefits as many people as possible and themselves. Although this sounds simple, and it is easier said than done, as there will always be a conflict of interest between various groups of people or organization. Any decision made by businesses need to be made with an educated awareness of the precise situation and then act according to some sort of system of principals which is ‘Business Ethics’.
What is Business Ethics?
Business ethics is exactly the same as normal ethics, and that knows what is right or wrong, and good and bad behavior. It is the study of what makes up good and bad conduct as related to business activities and values. (Kubasek, Brennan & Browne 2006) Ethics plays a very important role in one social system and basically on how the people will make their actions or decide on a particular thing on whether it is the right or the wrong thing. Ethical reflection is very important, it helps a person or a group of person understands whether the actions are right or wrong. Ethics is a very critical factor most especially when considering where the ethical standards are applied to. Aside from it, weigh results of events or decision is also another major concern because of the fact that a person has dangerously analyze whose side is needed to satisfied. There are instances that moral obligations are also measured, in which moral is defined as a universal accepte...
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... product of greed of white collar crimes committed by powerful CEOs of corporations like Enron and WorldCom. With the help of employees who has the conscience and blew the whistle on the crimes committed by their superior, these crimes will not be solved today. Codes of Ethics is one communication mode that an employee within the organization, to gain knowledge of the rules and regulation concerning ethical boundaries within their organization culture.
Works Cited
Brenkert, G. G. (2010). The Limits and Prospects of Business Ethics. Business Ethics Quarterly, 20(4), 703-709. Retrieved from EBSCOhost.
Gray, C. & Larson, E. (2008). Project Management: The Managerial Process (4th ed.). New York, NY. McGraw-Hill Irwin.
Kubasek, N., Brennan, B., & Browne, M. (2006). The Legal Environment of Business (4th ed.). Upper Saddle River, NJ. Pearson Education, Inc.
Miller, R. L., and Hollowell, W. E. (2006). 2007 Business law and legal environment texts. Mason, OH: West Legal Studies in Business.
Kerzner, H. (2013). Project Management: A Systems Approach to Planning, Scheduling and Controlling. Hoboken, NJ: Wiley.
Frame, J.D., Managing Projects in Organizations: How to Make the Best use of Time, Techniques and People, third ed., San Francisco: Jossey-Bass,112-117, 2003.
(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.
Kubasek, N., Brennan, B., & Browne, M. (2012). The legal environment of business: A critical thinking approach (6th ed.). Upper Saddle River, NJ: Pearson Education.
Do you agree with Schmeltekopf that business schools are not preparing students well for the for the ethical challenges they will face in the workplace? Why or why not?
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).
Explain the connection between the economic model of corporate social responsibility and “free market” or “neoclassical” economic theory.
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 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.
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.
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.
The Facts: Kermit Vandivier works for B.F. Goodrich. His job assignment was to write the qualifying report on the four disk brakes for LTV Aerospace Corporation. LTV purchased aircraft brakes from B.F. Goodrich for the Air Force. Goodrich desperately wanted the contract because it guaranteed a commitment from the Air Force on future brake purchases for the A7D from them, even if they lost money on the initial contract.
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