Applied Business Ethics - Essay Example

Applied Business Ethics In every successful business, ethics have always played a key role. Ethics are moral s orgood relationship strategies that a business may use to ensure that its work is morally performing as per conducive relationships may be concerned (Primeaux, 2012). Some of the ethical issues include. Measures and weights accuracy of goods sold Quality of goods and services offered Business environment at which the business operates Legal adherence of the business operators and legality of the business Customer complaints response mechanisms Level of business competition Employee welfare address mechanisms Use of fairness in customer treatment The nature of goods sold (Lussier & Sherman, 2014). These are major issues that are important in all businesses. In order for a business to thrive well, there should be a better mechanism set up to deal with these business ethics. These issues, helps both the business owner, the customers, the employees and the competitors. We shall examine the following ethical dilemma. Imagine you find as a business owner and you out that the business is losing its market as a result of intrusion of new businesses in the region (Birsch, 2004). As the business owner and having enjoyed various privileges and wider market before you may feel as if your business ambition has been curtailed. To recover the blow, the business person may end up venturing into underhand methods as he tries to deal with the challenge at hand. Supposing the business is solely enjoying the market. It also may be at a temptation of engaging in unethical behaviors since there are no competitors and whichever the conditions it may set, the customers would not have any other option rather than to stomach the condition. In the survival instances of such business and ability to serve its customers well, there should be exercised of good ethics of the business. The good the relation of the business to the legal and to the social environments, the better the chance the business has to thrive. This ethical dilemma is actually hard to determine the most appropriate strategies for use. Being alone in a business could attract laxity while being in a competitive environment, it is also another matter all the same for it may call for use of unethical behaviors to counter the competition (Paliwal, 2006). This is therefore the case, which is the best business environment? The above ethical dilemma has been classified due to various factors. For one, if the business is alone in the market it enjoys a monopoly. This being the case, and since there is no competition some of the business owners may result into manipulation of the customers in many ways. First, let look on the quality of goods and services offered. With this kind of a market, customers are forced to make adherence to the conditions set by the existing business (Mitchell, 2009). The business in the greed to make bulk profits will end up reducing the weight and measures of the goods they are selling. Whether the goods are of lower quantity, the customer has got no any other choice. Other arising issues include the offering of low standards goods and services. If we take for example, the healthy environment supposing that there is only one clinic in the locality. Health being a critical issue and basic requirement in life people will always find going to the same clinic though the service offered is of low quality. Supposing there is only one hotel available in an area. Even if it operates in deplorable conditions people will always use it since they cannot stop feeding considering it is a basic requirements of life. If the environmental effects of the business are harmful, but the goods that are produced are basic it would be preferred that the business to go on despite its adverse effects due to its activity. But in actual sense is it ethically right? (Gavai, 2010). The other implication would be poor customer relations. Considerably, the customers have no any other option and the business owner has nothing to worry him or her. Come what may, east or west, the only option would be him. The other problem would be exploitations of prices. A sole business may set its prices to a higher so as to enjoy high profits which are consumer exploitation. Suppose now the other side of the dilemma. If other businesses enter into the market, the existing monopoly business would adversely be affected due to increased competition. The customers, would therefore have a large market. To them it would be a great advantage. The business that used to exist will start recording so low sales per day. As an effort to counter the pressure the business will result into engaging in unethical practices that will help it compete and out do the upcoming business. Such practices will be unfair competition where the business may lower its prices due since it is stable and hence may leave other upcoming businesses unable to cope with the market (McGee, 2002). Some of malpractices would be if the business deals with things like beer and since the law requires the sale to restricted ages, some business owners may sell to even younger customers as a way to make more sales and to create customer loyalty (Beer, 2010). This is actually an ethically wrong venture. These businesses also may ignore the government laws won the opening and closing hours of the business. Some of them may secretly allow their customers to enter and enjoy their drinking, which may disadvantage the other similar businesses. This is ethically wrong since it may lure the customers to the places which act to their demands and not to the demands of the rules and regulations. In order to counter these challenges and ethical malpractices, one should apply various methods applicable in solving ethical dilemmas. These solutions include; Ensure fair competition in the business – this is done by harmonically standardizing the prices and standards of goods and services offered. This will ensure that the businesses will have a common ground for competition. Ensure no discrimination to customers - business ethics will ensure that there is no any method that a business may use to lure its customers into their business. This is done by a mutual agreement between the businesses. Ensure correct weights of goods – this is done by ensuring that there are set standards of measurement and weights that should be followed by all the businesses. There should be a body set to ensure that these standards of measurements are adhered to and each of the business follows them. The body should be tasked with a duty to occasionally inspect the businesses, sample some of their goods and check their standards to ensure that no exploitation of consumers in terms of the weights. Price harmonization – the businesses should set a common price for goods and services they are offering to ensure that the market is not marred by different prices. When this is done, any venturing business will have an equal opportunity in the market since they will not be challenged by the established and well performing businesses in terms of pricing competitions. Also for a monopoly business, there will be no consumer exploitation in terms of the price since there is a law that has been already set concerning the rage of goods and services and beyond which they should not shoot up to. In case a business tries to go against this standard it is liable to face the law. The other solution would be legal procedures and regulation – it is the duty of every business to adhere to the governing laws and regulations of a country. This is ensured by the law enforcing bodies. If there have been restrictions, the business should abide by them. Any inherent business should face the law in case of negligence of the law. Such an aspect is important in ensuring that elements involving customers are neither illegal nor harmful to the environment surrounding it. Upholding employee rights – for the businesses that enjoy monopoly market, it’s important for the employees to be protected so that they are not exploited by their employers. Since there are no other opportunities available, the business may tend to underpay or offer manipulative salaries to them. The employees may be shielded by the law governing their rights. Avoid consumer exploitation – consumers mainly stand a couple of challenges. These challenges they may face under the business owners may include, overcharging in terms of the prices, false and misleading advertisements, sale of wrong quality goods and harsh treatment. To avoid these exploitation, the businesses should exercise ethically right morals aided to create an enabling business environment. Critically, it is important that businesses are free from environmental degradation and pollution – this is done to ensure that at no any situation, whether the business is beneficial or not that fit will produce hazardous effects to the surrounding environment (Frey, 2003). If the threat is more than the advantages it should be considered as an unethical to carry out such a business. In general, it is paramount for various businesses to exercise ethically and morally upright practices as a way of ensuring that they hold a future tomorrow. Without good relations to the society a business is doomed to fail and may not withstand the growing business environment. Whether a business is a monopoly or not, the business ethics should be a prime guideline to ensure a smooth sailing of the business future ambitions to develop. To solve our ethical dilemma, the above solutions should be taken into consideration and practice. They will also help in the management of all risks facing the business, financial crisis that may arise, the demographical and environmental dangers that may be a threat to the business. References Beer, L. (2010). A strategic and tactical approach to global business ethics. New York, N.Y.] (222 East 46th Street, New York, NY 10017): Business Expert Press. Birsch, D. (2004). The Ford Pinto case: A study in applied ethics, business, and technology. Albany, NY: State University of New York Press. Bredeson, D. (2012). Applied business ethics. Mason, Ohio: South-Western/Cengage Learning. Frey, R. (2003). A companion to applied ethics. Malden, MA: Blackwell Pub. Gavai, A. (2010). Business ethics (Rev. ed.). Mumbai [India: Himalaya Pub. House. Lussier, R., & Sherman, H. (2014). Business, society, and government essentials strategy and applied ethics (2nd ed.). New York: Routledge. McGee, R. (2002). Business ethics & common sense. Westport, Conn.: Quorum Books. Mitchell, C. (2009). A short course in international business ethics combining ethics and profits in global business (3rd ed.). Petaluma, CA: World Trade Press. Paliwal, M. (2006). Business ethics. New Delhi: New Age International. Primeaux, P. (2012). Applied ethics remembering Patrick Primeaux. Bingley, U.K.: Emerald. Read More