Business Ethics: Conflict of Interest - Essay Example

Business Ethics Business ethics is a system it deals with the moral principles in business environment. It is providing a way for possible behavior for the organization in their strategic planning and routine operations. It is very important in modern business world to achieve business success and improve organizations image. All organization has their own ethical codes to ensure their social obligation these ethical codes are applied in their day-to-day operations. Ethics is a term relating with what is right and wrong ethics is relating with morality the moral responsibilities to the society and other stakeholders of the organization. All business firm ultimate aim is to make profit this aim is relating with their economic performance such as profit, growth, revenue etc. But the economic performance of an organization is highly depends on their social performance that are the responsibilities to the society employees and other stake holders. Employees plays very important role in a business firm good employee welfare and employee employer relationship is essential for an organizations success. Conflict of interest is deals with person or group of person’s interest of benefits is entirely conflicts within the interests or benefits of the company. Employers are prohibited in interfering the activity other than their responsibility towards a company or in some times should be conflict with or prejudicial to the company. In this context work place safety is the need of employees in an organization and the employers are responsible to provide the safety to their employees “Terms like “professional ethics,” “work ethics,” and “business ethics” are misnomers. The principles we use in the workplace should be the same principles we use in other areas of our lives – they’re just applied to business situations.” (What is business ethics?). Proper managing of employees is one of the key strategic area in modern business it is possible through provide better work environment and job safety it is the main responsibility of a management. It is also the responsibility of an employer. The moral responsibility of an employer is to provide better work environment for their employees. Unfortunately even passage of these laws and regular inspections may work environments can be unhealthy and even dangerous. Modern business world is challenging with higher competition and this work environment create the chances of several accidents. Work place accidents are deferent types some organization did not provide the safety precautions to their employees like safety masks and jackets, lack of maintenance in machines are another problem in safety. Electric shock from machines and another industrial equipments create lot of safety problems. The main safety issues are reported in the area of mining and other industries. The government administrative body for work place safety and Health is inspecting the standards of work environment and machineries. But some time this body is also fails to ensure the safety of employees. Thir main activity is setting a standard for all work environments and they inspect monthly or weekly the organizations meet the standard The safety standardization is very poor the employers can easily ensure the standard. This situation is creating lot of problem make the safety of employees in work place. “Chemical exposures permitted by weak OSHA standards make workers sick and cause the majority of known work-related deaths.” (Occupational Safety and Health, 2007). The work place safety is an ethical part of business and it is relating with the Interest of Conflicts the interest of employer is making maximum profit with minimum cost but the same time they are responsible to provide the better work environment to their employees. All ethical matters are similar in concept it is the responsibility from a person or an organization. An organizations responsibility to the consumers are also dealing with some ethical matters consumer protection is also the responsibility of a company to ensure their products are safe from harmful contents and they are responsible to ensure the consumer get the real utility of the product. It is also relating with the ethical matter of business and the law also give the protection for consumers. Business can provide an adequate working environment to its employees; in addition to this there should be a proper link between business and other social institutions, companies can also make or constitute several corporate communities because company can be good corporate citizens. An organizations profitability and growth will depends on its decision making ability among the work force which is possible only through the application of proper business ethics and code of conduct. Health and safety plays an important role in this respect. A thorough application of ethical principles in the business is possible to promote excellent safety measures within the organization by mitigating the accident and ill health. Work and workers safety and health measures in an organization is possible only by increasing the number of employer dominated health and safety programmes by using various safety techniques based on hazard identification and control. Statutory law of Federal government take steps to protect the health of employees and ensure the safety of work place. These laws are more effective to control the unsafe work places. An employer is responsible for protecting employees in the work place. “The Act defines an employer as any "person engaged in a business affecting commerce who has employees, but does not include the United States or any state or political subdivision of a State.” (Employment Law Guide. The Occupational Safety and Health Act of 1970. 2007). Case Study: Slipping on Dust in Machinery Work shop, this case study is dealing with the work place safety problems in a Machinery Work shop. The work shop floors are unsafe and it is create lot of problems in employees, dust in shop floor the workers complaint that the floor is slippy; the management are not ready to take a solution for this problem. This unsafe working environment is negatively affecting the employees working interest they are not happy in that location. The management has two solutions to solve this problem (1) Improving the floor grip (2) Reducing the dust contamination on walking areas. In this case the management takes initial steps to solve this problem. This case arises an ethical question to that particular Management. The main issue in this case is the management are not ready take a solution in the initial time to solve this problem. The case shows an example of interest of conflict in ethics. Study of business ethics can be seen from different direction of business. Business Ethics is relating with need of ethical values in business decisions and plans. Ethics is relating with corporate responsibility of an organization. Each organization has their own responsibilities to the society. Business ethics is a feel of obligation to conceder other human being they are directly and indirectly involve in business activities. All organizations business strategy is highly relating with their ethical views, organizations this decisions are affect various stakeholders. Organizations responsibilities to these stakeholders are different on the basis of their objectives. Employees are the one of the main stake holder group in an organization in this context making a good relationship with their employees. Work place safety and Health is very important in modern business world. It is one of the main thing employee motivations. An employee is only motivated by getting good work environment all people are conscious about their health and safety this context better work environment can helps to improve the productivity of employees. The successful functioning of business is relating with efficient and skilled workforce better work environment is help to improve the efficiency of the employees. The recent developments in work place safety is using robots to ensure the safety in workplace. This system is more effective and applicable to all industries this safety measures are based on the workplace safety requirement and with government regulations. “All of these developments mean that robot safety continues to be an active process with new and more effective methods of personnel safeguarding continually being introduced.” (Jeff Fryman). These advanced technologies will helps to improve the safety in workplace. The developments of robot safety will be an active method to reduce the personnel injuries in work place. Works Cited What is Business Ethics? (2005). What do you Stand for? Scribbler’s Ink. Retrieved May 29, 2007, from http://www.scribblers-ink.com/business_ethics.html Misclassification of workers as independent contractors rebuffed by the California Court of Appeal. (2003). California Home. Retrieved May 29, 2007, from http://www.dir.ca.gov/dlse/MisclassificationOfWorkers.htm Occupational Safety and Health. (2007). Community Action Program. UAW.ORG. Retrieved May 29, 2007, from http://www.uaw.org/cap/07/issues/issue11.php Employment Law Guide. The Occupational Safety and Health Act of 1970. (2007). US Department Of Labor. Retrieved May 29, 2007, from http://www.dol.gov/compliance/guide/osha.htm Fryman, Jeff. Recent Developments in Robot Safety Standards. Robotics Online. Retrieved May 29, 2007, from http://www.roboticsonline.com/public/articles/archivedetails.cfm?id=1215 Read More