Business Law - Ethics Essay

Submitted By Lokoaznpnoy1
Words: 1228
Pages: 5
Open Document
Oscar Dejelo
Business Ethics

Business ethics is a very broad term and widely used throughout the world. The term “business ethics” first started to be used in the United States in the early 1970’s as businesses were growing bigger and more powerful. Business ethics are guidelines or behaviors that businesses and individuals use daily to deal with world situations they might find themselves in. Race, gender, age and religion all play a role in business ethics. The most important factor in a person’s perspective of business ethics is religion, because of their duty-based ethical standards. A business’ or individual’s ethical reasoning process differs from one another that have different faiths. “Duty-based ethical standards often are derived from revealed truths, such as religious precepts” [ (Cross & Miller, 2009) ]. Religions, such as Buddhism, Christianity, Judaism, and Islam have different reasoning process in which the individual examines the situation at hand in light of his or her moral convictions or ethical standards coinciding with their holy books as fundamental rules for moral action. [ (Cross & Miller, 2009) ].
Buddhists follow the teachings of Buddha to help with their ethics in business. Christianity uses the Ten Commandments and the teachings of Christ to classify their ethics. The Jewish faith uses the Torah, while Muslims use the Qur’an and the teachings of the Prophet Muhammad to explain their views on business ethics.
Buddhists do not believe in one particular economic system. The main issue in Buddhist ethics is not how poor or wealthy a person is, but how they respond to the situation they are given. One goal of Buddhism is not to become attached to material things. They believe that material things should not control a person. Another goal of Buddhism is to end dukkah, which means ill-being, or unhappiness. The way that a Buddhist end ill-being is with dana, giving or generosity. Dana is the most important idea dealing with Buddhist ethics in society and business. “A person should have only minimal needs such as: enough food to stop hunger and keep up good health, enough clothing to be socially decent and to protect their body, enough shelter for cultivating the mind, and enough health care to provide sufficient care and prevent illness” (Knitter & Muzaffar, 60). Buddhists do not believe that a person should be poor, but what matters is how a person gets wealthy, and how they respond to being wealthy or poor. Buddhists believe that the economy is not usual or predictable, but that it is always changing. From a Buddhists viewpoint, “economic growth and consumerism are unsatisfactory alternatives because they evade the basic problems of life by distracting us with symbolic substitutes such as money, status, and power” (Knitter & Muzaffar, 75). The economy tries to cover up the problems of the world by giving people material things. People can become wealthy, but they should not become attached to material possessions and let them control their lives. In a Buddhist’s eyes, if a person has money or is wealthy then they should be using dana. A Buddhist’s view of business ethics differs a little from that of a Christian.
Christianity’s main concern is for the well-being of others. This concern is brought on by one of the Ten Commandments: Honor your neighbor and his goods. Christians believe that the government is an organization that was given by God to look after people. They also believe that any person who has made a mistake should own up to it and apologize. People following Christian business ethics should want to help others more than themselves. They also want to do what is needed to work with God in making a fair and continuing world economy. Anything that happens in the world, Christians believe God was responsible. They believe that he lets people make their own choices, but sometimes emerges and makes some decisions for them. If a Christian has a problem or finds that
Show More

Related Documents: Business Law - Ethics Essay

Essay on Business Law and Ethics

Business Law and ethics Subject: The objective of this report is to highlight the importance and need of ethics, ethical leadership and organisation behaviour. The report is based on the speech of Michael Hackworth. Leadership in fairness and honesty makes good business sense. Organisation behaviours, culture, values, management style and ethics, all of them make a combination on which company success and failure depends. Every company in the world start by stating the mission, objectives…

Words 2377 - Pages 10

Business Law and Ethics, Offer and Acceptance for a Contract Essay

Business Law and Ethics Assignment 14/03/2013 Module : 26313 Module leader : Phil Robinson Words count : 1088 In order to advise Neil, it is necessary to consider the law of the contracts, especially about offer and acceptance. We will analyze the situation to see what laws are applicable and advise Neil. In this case, we have three different people: Firstly an offeror, a person who makes an offer (in this case, Neil) and two offerees, the person to whom an offer is made (in this case…

Words 1103 - Pages 5

Many Different Laws Affect A Single Business Transaction: Ethics And Business Decision Making

Knowledge of ‘black-letter’ not enough - business now assumes an ethical dimension.  Many Different Laws May Affect a Single Business Transaction.  Ethics and Business Decision Making.   © 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 2 © 2012 Cengage Learning. All Rights Reserved…

Words 2525 - Pages 11

Examples of Business Law and Ethics in the Buffalo Creek Disaster Essay

to construct their new “third dam” when there was a requirement of the state that a permit must be granted before the construction of any dam could have taken place in the Buffalo Hollow at all. Thus, Pittson Coal can be found the guilty under the law of Negligence Per Se - Negligence Per Se (“Per se” meaning automatic) states if you carelessly engage…

Words 1389 - Pages 6

Ethics Program And Information

Ethics Program and Information Judy J Beasley Kaplan University AC504-01 Professor Sandra Gates Introduction In a business, an ethics program can refer to a process, and a set of the guidelines for living up to the company’s values of how to do the business tasks. This program is likely to offer an explanation of the values that the company holds and the steps to take if an employee has a question about whether they are being met or how to meet them in a particular situation. Therefore, in a…

Words 937 - Pages 4

Introduction Law Society 2 Essay

Business Law and Ethics Comm 315 Introduction: Law and Society (Chapters 1 & 3) © Benito Aloe, Attorney B.A., LL.L. 14-­‐12-­‐29 Benito Aloe, Business Law and Ethics 1 Business Law and Ethics • The content of these slides is copyright protected and owned by their author, namely myself; • The slides are provided to individual students exclusively for academic and study purposes; • Consequently, they cannot be published or otherwise shared with any other person without…

Words 2453 - Pages 10

An Introduction To The Focus Of Busines Essay

Are business ethics in China a problem? By Jordan Watson Seminar Group H Academic and Professional Skills Table of Contents Introduction. 3 Methodology. 3 What is business ethics? 3 Ethics in China over the years. 4 Recent changes in Chinese ethics. 4 Advantages. 5 Disadvantages. 5 Conclusion. 5 References. 6 Bibliography. 6 Introduction. This literature review will focus on how business ethics can differ in countries around the world. They can differ due to traditional ethics, cultural…

Words 981 - Pages 4

Essay on Ethics: Cultural Values

Cultural Values and Business Ethics Gabriel A. Martinez Saint Thomas University – Reaction Paper MAN 711 Abstract The purpose of this paper will be to analyze the influence and importance of cultural values in combination with business ethics. Based on previous discussion of cultural differences an analysis of similar cultures and stark differences will be examined in order to provide an example of how different cultures practice and apply business ethics. CONTENTS Abstract 2 Reaction…

Words 926 - Pages 4

Business Ethics and Op Essay

by the Statement of Ethics Associates and Directors – This Statement of Ethics applies to all associates worldwide, and all members of the board of directors of Walmart Stores, Inc. It also applies to the associates and directors of all Walmart-controlled subsidiaries. Third Parties – Walmart expects its suppliers, consultants, law firms, public relations firms, contractors, and other service providers to act ethically and in a manner consistent with this Statement of Ethics. If you hire a service…

Words 942 - Pages 4

Law and Ethics Essay

Laws and Ethics; What are they? Who do they affect and how do they affect me in my everyday life. The definition of “law” is a system of rules and guidelines that are enforced through a set of institutions. The law shapes everything from politics, economics, and our society in a number of ways and as well serves as a social mediator of relations between people (http://en.wikipedia.org/wiki/Law). The definition of “ethics” as well known as moral philosophy that addresses questions about morality –…

Words 2409 - Pages 10