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review of literature on business ethics
review of literature on business ethics
aspects of what business ethics is
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Business ethics; what does it really mean? Some say it’s an oxymoron and the two words can’t exist together as a concept. These people will tell you that within business, there is no room for ethics and ethical behavior. Others will explain the need for businesses to practice good ethical and moral values within their company, and the importance of this to our society. For me, in the past, I honestly never gave the idea or term a second thought. Now after learning so much of business in our society I have a firm understanding of business ethics and I’ve developed my own personal view that reflects it. At the roots of proper business ethics is undoubtedly, understanding. As with life, all truths and therefore all ‘rights’, come with understanding. You can mimic steps and follow guidelines but that’s mere “window dressing” as according to Milton Friedman, an American economist (Friedman). With understanding you can find the bottom line and follow that which causes the best over all results for the majority of those concerned. What exactly does that mean?
To start to answer that question we have to look at the definition of business ethics. Business, as according to Merriam-Webster's Online Dictionary: “Noun: employment; profession; vocation; any occupation for a livelihood; trade; firm; concern.” And here is the definition of "ethic," also from Webster's Dictionary: “Noun, pl.: philosophy which treats of human character and conduct, of distinction between right and wrong, and moral duty and obligations to the community.” So business ethics is concerned with human character, understanding, and distinction between right and wrong, and moral duty, within a livelihood, trade or occupation. Given this definition you can see how there is much debate and confusion as to what business ethics really is.
Business ethics is more of a concept than it is a definable term. Seeing that the definition is somewhat vague, and that business ethics is seen more as a concept, we can assume the concept to be relativistic in nature. Even so, that doesn’t mean it doesn’t exist or can’t be defined more clearly. That just means it exists in many forms and for many different reasons, with many different definitions.
Practicing the right business ethics means getting down to the bottom line. In the end who will the action affect and how? To what extent will it help, and why? W...
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...e is one thing I’ve learned it’s not to judge a book by it’s cover. Not to jump to conclusions, or think my first impression is the right impression. Business is a whole world I never knew. It’s one that shape our lives. As individuals we have responsibilities to, in essence, take care of each other. Is it business ethics? Who or what is business anyway but you and I? It’s human ethics and the bottom line.
Works Cited
Cicero (106-143 B.C.). Excerpt from De Officiis, Book III. In L. Cunningham & K. Gunn (Eds.), Business & society—A journey of discovery, 5th edition (pp. 275-283). Boston: Pearson Custom Publishing
Friedman, Milton. “The Social Responsibility of Business Is to Increase Its Profits,” New York Times. Magazine, September 13, 1970. Web. 16 Mar. 2015
http://www.colorado.edu/studentgroups/libertarians/issues/friedman-soc-resp-business.html
Merriam-Webster: Dictionary and Thesaurus. 2015. Web. 16 Mar. 2015
http://www.merriam-webster.com/
Mill, John S. “From On Liberty, Chapter 2: Of the Liberty of Thought and Discussion.” The Broadview Anthology of Victorian Prose 1832-1901. Ed. Mary E. Leighton and Lisa Surridge. Peterborough: Broadview, 2012. Print.
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
Business ethics are a the codes of conduct and company lays out so it's employees follow a righteous moral compass that's in the same direction as the company's.
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.
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)
Ethics in business has many aspects to it. Ethical businesses can be hard to manage if the entity, management, or employees are unethical in their practices. Due to this it can cause undue stress on others who want to do right by the customer. There are many pressures on individuals who own, operate, and are employed by businesses. Our text book examines five of these pressures.
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).
Business ethics are the moral principles that describe the way a business behaves. Because businesses are treated as “persons”, it can be said that the same principles that determine an individual’s actions can also apply to business. Making ethical choices involves distinguishing between right and wrong, and then making the right choice; and while it can be easy to identify unethical business practices, such as using child labor or not paying employees properly, good ethical practice can be harder to define simply because what is deemed right is not always universally accepted. In other words, everyone has a unique moral compass, and can see black and white as different shades of gray. In the face of this, every business holds corporate social responsibility to act fairly for their employees’, stakeholders’, and sometimes even the earth’s sake. However, whether or not the business adheres to this ethical paradigm varies.
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.
In general, business ethics means getting to know what is considered right or wrong in the workplace and involves performing accurately in regard to effects of products,
Seawell, Buie 2010, ‘The Content and Practice of Business Ethics’, Good Business, pp. 2-18, viewed 22 October 2013, .
Business ethics is a diverse field that cannot be defined with a single definition. This area addresses numerous issues, problems, and dilemmas within the management of businesses. Does this through numerous perspectives and methods. Of course, in order to present the complexities of business ethics, we must explore the types of issues that business professionals are continuously confronted with. To understand one must
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 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
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.