Research Paper: Ethics in Business - Essay Example

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Research Paper: Ethics in Business

When adhered to, such moral values enhance the performance and profitability of the firm since it attracts and maintains customers together with their trust in the products or services offered by the business. The companies' basic moral principles according to Cory (2004:2) "are honesty, acting in good faith and in an equitable and just manner without betraying the trust of the stakeholders and by treating them as equals, practicing reciprocity, avoiding the exploitation of others, and acting from your own free will without forcing your will on your partners". It is virtues like honesty and acting in good faith that in our case study we see Steffan, in his capacity as the project manager violating deliberately.
There is need for business to develop and faithfully practice these moral values for purposes of well societal being. Unfortunately they fail to do that. Incidentally it is the managers and the CEOs who often are accused of violation of core values of the society like in the case of Steffan Larson who disregards Lauren's advice. They are usually morally blind and instead throw their focus on profit making. ...Show more

Summary

Ethics according to Milton S, Robert A and James H (2001:15) is defined as a discipline that involves investigation into the moral judgments people make and the rules and principles on which such judgments are based. Ethics in business on the other hand is the act of a business or business employees to follow to the letter certain basic moral principles when transacting with their customers…
Author : roselyn68
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