StudentShare solutions
Triangle menu

Business Ethics from Profit domain - Essay Example

Not dowloaded yet

Extract of sample
Business Ethics from Profit domain

Business Ethics from Profit domain

Business ethics is concerned with how businesses relate with the globe at large as well as their one-on-one relationship with their individual customers. Most business across the globe has earned bad reputation as a result of just being in the world of business. In the eyes of most people, the bottom line of business in making money, and this action is referred to as capitalism. Indeed, it is not wrong to have a means of generating money in the business world, but the manner in which it is being done is what counts, hence, a concern in business ethical behavior. It is conflicting to resolve the existing tension between a philosopher who believes in ethics in business and a money minded business owner. To fine the conflict the paper will look at three different ways that will lead the business world into business ethical standards (Chryssides and Kaler, 12-13). Business Ethics from Profit domain There has been an argument that business and ethics have a symbiotic correlation in which naturally ethics emerges from the businesses which are profit oriented. As a result of this, there are two ways of explaining the ethical standards. One, the application of good ethics in the business results to successful business. In general, it means that when businesses practice moral standards, they earn profits. However, this is not usually the case; for instance, making of safe products is profitable since product liability is decreased. In addition, businesses are profitable if employees privacy is respected, since there will be increased motivation hence efficiency. (Hartley, 44), Argues that, the only way a business can earn long-term interests, it’s by seeking trust from the public. However, this version has its weakness; for instance, most business that upholds moral practice will attain an economic advantage in the long run only. Little incentives are provided to businesses that seek profits within a short time. In addition some business morals may not be economically viable whether in the long run or short term. On the other hand, moral business depends on what it is being the product or service that will earn the business good profit. Therefore, the conflict that exists between business ethics and profits is incidental. The Second way is that, the profit motive in a free market which is competitive will bring about business ethics. Meaning that, if safe products are demanded by consumers, or if employees demand for their privacy, then consumers will purchase from or the individuals would wish to be employed in business that have their demand. It is therefore obvious that, good businesses lead to standard ethics, when business standards are observed by individuals involved in the business it is automatic to attract the consumers. However, the assumption that consumers and employees will demand there need to be met is challenging. The consumers may desire poor products if they are making a saving and the employees will forego their needs if they are compensated with high pays. It is important to note that not every ethical behavior in a business will lead to profitability. Business Ethics against laws The other strategy of business ethics is that the ethical obligation in a business encounters laws constrains. Across the globe, morality from the westernized has been put into legal laws such as harassments, killings and fraud. For ...Show more

Summary

This paper will focus on the three germane ways in which the business standards can be reached: Business ethics from profit domain, Business ethics against laws as well as Business ethics from moral rules…
Author : horace22
Business Ethics from Profit domain essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Business Ethics from Profit domain"
with a personal 20% discount.
Grab the best paper

Related Essays

The Conflict between Profit-Making and Business Ethics Resulting in the Claims Made within the Article
1.1- What Is the Following report about? The following report is about the claims made within the attached news report “ Exposed: The reality behind London’s ‘ethical’ Olympics.” The attached report is claiming an investigation by The Independent reveals that the Adidas sportswear to be worn by British athletes and Games volunteers is being made in abusive sweatshops in Indonesia.
3 pages (750 words) Essay
The Confucian Business Ethics Equal importance to Profit, Process and Principles
Today’s world faces more dangers from the profit frenzy businessmen than any other terrorist organizations in the world. All the ethics, moral codes and rules followed by the previous generation have been long forgotten. It is the right time to re-study the business ethics and educate our young generation on the same.
7 pages (1750 words) Essay
Business Ethics
Andy was in a dilemma whether to cancel all the orders of cups and lids from new supplier, incur cost, or ignore the incident and save his goodwill. Since in the restaurant industry service and products play an important role, Andy has to also consider the relevant ethical issues.
8 pages (2000 words) Essay
COMPARATIVE BUSINESS ETHICS AND SOCIAL RESPONSIBILITY
The expectations of the society regarding the social obligations of organisations are continuously changing mainly because of the influences by varied approaches to social, economic, cultural events and political aspects impacting the business environment; thereby transforming the social mentality, which puts the pressure on local or multinational corporations to carry their business in an ethical and socially responsible manner.
10 pages (2500 words) Essay
Research Paper: Ethics in Business
The ethics are mainly morals understood by many if not all globally and are meant to not only promote public image of the business or company and its owners, but also improve the customer's (human) welfare or well-being. It is agreeable to say that by conviction and not through interest, we should treat others the very same way we would want them to treat us (Cory 2004:1).
8 pages (2000 words) Essay
Business Ethics in the Globalised Economy
The majority of the hospitals, which are at the centre of health care delivery systems, are operated by privately investments. Here, a few investors would have initiated the venture and would be interested in maximizing the revenue to add to the shareholders value.
12 pages (3000 words) Essay
Ethics in Business. The analyse of the case study
The ethics are mainly morals understood by many if not all globally and are meant to not only promote public image of the business or company and its owners, but
8 pages (2000 words) Essay
Business ethics
As Corporate Social responsibility leads company to work for society’s interest, so employees have to comply with a code of conduct to work towards improvement or
18 pages (4500 words) Essay
Business and Professional Ethics Essay
the strategy of viewing the shareholder groups of a company as the economic engine that drives the organisation and thus, the shareholder group of a company is considered to be the only group towards which the company must show social responsibility. As such, the primary goal
6 pages (1500 words) Essay
The role of business ethics in the corporate environment

This report analyses the role of business ethics in the corporate environment from the individualistic as well as organisational viewpoints. The report is concluded by providing recommendations about how business ethics can be more stringently established as a part of corporate governance and self-regulation approaches to business conduct and individual behaviour. 

10 pages (2500 words) Essay
Get a custom paper written
by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT
Comments (0)
Rate this paper:
Thank you! Your comment has been sent and will be posted after moderation