When it comes to business ethics, the scenario gets really amorphous and vague. A few years ago, the sociologist Raymond Baumhart conducted a survey in which he asked business people hailing from a number of reputed organizations and corporations about what ethics meant to them…
1987). Thus any virtuous manager aught to be particularly conscious about the validity and credibility of one's ethical affiliations and must ensure that the organization being managed and run by him/her abides by the time tested and authentic standards of integrity and propriety.
It often gets difficult for the managers operating in the contemporary organizations to accurately identify the ethical standards, considering the deluge of ethical philosophies circulating in the academic and intellectual spheres. In the given context, it will be highly relevant to consider the opinions pertaining to ethics furnished by various schools of philosophy, which will go a long way in understanding the dilemma faced by the conscientious managers pertaining to the identification of appropriate ethical standards in a given situation.
As per the theory of ethical relativism, there exist no universal norms pertaining to what is right or wrong (Ethical Relativism 2008). This gives every individual a free hand in deciding what is right or wrong as per one's discretion and understanding. ...
As per the theory of ethical relativism, there exist no universal norms pertaining to what is right or wrong (Ethical Relativism 2008). This gives every individual a free hand in deciding what is right or wrong as per one's discretion and understanding. Ethical relativism holds that the meaning of 'right' and 'wrong' mostly depends on a society's dominant moral perceptions and thus the ethical standards can never be universal and may vary from place to place and from time to time.
The confusion pertaining to ethics and in particular the business ethics gets further aggravated when one takes into consideration the consequentialist theories that tend to identify if an action is ethical or unethical on the basis of its final consequences. Utilitarianism is one such consequentialist theory that holds that any action is to be labelled as being truly ethical only if it succeeds in doing the "greatest good to the greatest number of people" (Ethics Matters 2006). As per this theory, an action aught to be considered to be ethical if the net happiness produced by it exceeds the unhappiness associated with it. Thus if any organization decides to build a dam to assuage the water shortages being faced by a state, utilitarianism will consider it to be ethical, even if it involves uprooting and displacing some historical monument situated in the vicinity of such a project.
In contrast, the nonconsequentialist theories of ethics like Kantianism and the social contract theory totally negate the individual or group preferences in the overall process of judging the credibility of ethical or unethical actions and give predominance to the fundamental rules and principles cherished by the ...
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“Ethical Standards in Business Essay Example | Topics and Well Written Essays - 3000 Words”, n.d. https://studentshare.net/miscellaneous/288301-ethical-standards-in-business.
These ethical dilemmas are commonplace in business operations and a proper understanding of ethics as it applies in business will help the managers to arrive at some appropriate solution. Consider the scenario where a manufacturer of children’s clothes produces products with a chemical for protection against flames.
On the other hand, multinationals that implement CSR fundamentals effectively form good business practices. For instance, they are less likely to come into conflict with governments in their course of developing social and economic policies. As a result, the products distributed by the organization to developing and industrialized countries do not have any difference in respect to safety, quality and information or directions of using it (for example its side effects) (Punnett 147).
In fact, good business ethics is the foundation of all good businesses. In the present day world where consumerism has become widespread, the importance of business ethics is even higher. The benefits of applying ethical principles in business are plenty.
Thus, there are exemplary cases employed in the argument in this regard. What makes two things related? Two things become related when they are linked or associated. Ethics and profit may not be related because the latter can be obtained without the former.
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Wikipedia (2006) defines business ethics as "'Business ethics is a form of applied ethics that examines ethical rules and principles within a commercial context; the various moral or ethical problems that can arise in a business setting; and any special duties or obligations that apply to persons who are engaged in commerce.' Generally speaking, business ethics is a normative discipline, whereby particular ethical standards are assumed and then appl
There was a time when I did not distinguish between law and ethics and thought that they were the same things and at another point in my life I thought that ethics was the inner voice of my conscience. However, I now realize that the idea of ethics is far more
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According to the IMA guidelines that are used for resolution of an ethical conflict, Lisa is supposed to discuss the conflict with her immediate supervisor who is Jeffrey Anderson. She was more concerned to know if the acquired company
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