Business Ethics Essay

Words: 1877

Pages: 8

Open Document

Business Ethics
An Informative Report for Owners, Managers and Leaders of Organisations in Emerging Markets

Table of Contents

1. Executive Summary 3 2. Introduction 4 3. Approach and Methodology 5 4. What is Business Ethics? 5 5. Why is Business Ethics Important? 6 6. The Approach to Business Ethics 7 7. Conclusion 8 8. References 9

1. Executive Summary

There are many factors to consider when a company does business with another. Many global businesses give very little regard to one of the most important aspects. There emphasis is making money and profit.

There is nothing wrong with making money and profit, but the manner in which you make it raises the questions of “Business Ethics.”

Business …show more content…
5. Why is Business Ethics Important?

Today, business is not just about making money or profit. Although there’s nothing wrong with it, but the reality is, business are expected to live up to various standards of responsibility when dealing with the outside world.
Normally these expectations come from the various role players within the organisation, but can also be from external factors like, suppliers and customers and society.
According to Rampersad (2004), every organisation has an ethical duty to its shareholders, employees, customers, suppliers and the community at large. In the same do everyone have to contribute to the values of the organisation.
The effectiveness about this type of ethical behaviour is if everyone meets the highest ethical standards and values of the business it will provide benefits to all.
Businesses who adopt the characteristics of creating an ethical environment are likely to make decisions which promotes social responsibility than profit seeking motives. This can influence other organisations or employees entering the organisation for the first time with unique values that promotes the common good of the business.
Organisations also have an ethical duty towards it suppliers and customers. This duty can be to buy in the best quality goods from its suppliers and inform customers what type

Business Ethics Essay

Business Ethics Assignment 1 Introduction This essay is to generally discuss how ethical theories provide guides in valuing human being’s behaviours to be ethically good or bad. We also have a look in different ethical theories to see why they are incompatible. The ethical theories include Utilitarianism, Kantian moral theory, virtue ethics and rights theory. Drawing on two of the theories, we will outline their positions and critically discuss the claim in a business situation…

Words 2122 - Pages 9

business ethics Essay

Adms 3360 York University Ethics Course Exam review Chapter 2 and 3 1.Corporate Social Responsibility: What is corporate social responsibility (CSR)? Is CSR good business? Social Investment: What is the field of social investing? What are social investment criteria? Social/Ethical Auditing Learning Objectives: understand CSR theory and debate, evaluate CSR criteria, formulate your own position on CSR. The Central Focus of CSR Theory: What obligations does a firm have toward society? CSR…

Words 2189 - Pages 9

Essay on Business Ethics

Phil 215 – Essay (Question 1) The prevalence and influence of advertising over our lives has changed immensely throughout the years. One of the biggest concerns regarding advertising is the use of puffery, which is the “practise of making exaggerated, highly fanciful, or suggestive claims about a product of service” (June 18, Slide 9). Although legal, the ethicality of the usage of puffery and similar advertising techniques and whether or not they amount to manipulation and behaviour control is…

Words 1314 - Pages 6

Essay on Business Ethics

began his career as a highly successful, highly respected businessman. He started a legal investment business in 1960 by buying and selling over-the-counter stocks that were not listed on the New York Stock Exchange (NYSE). In the 1990s, Madoff Securities was trading up to 10 percent of NASDAQ shares on certain days. He used his legitimate success to start another, illegitimate money-management business that promised his investors consistent returns of 10 to12 percent. Such returns are so high that investors…

Words 1917 - Pages 8

Essay on Business Ethics

What is ethics? Ethics can be defined as a set of principles used by an individual to govern his or her decisions in an effort to ensure fairness and equality. Business ethics, as defined by the Stanford Encyclopedia of Philosophy is the applied ethics discipline that addresses the moral features of commercial activity. The same source also gives a history of business ethics which states that the concept as an academic principle is relatively young-only about forty years old; but in general is as…

Words 1442 - Pages 6

Business Ethics Essay

All businesses face ethical issues. Some, as they should, see them as an important aspect to be remembered when making a business decision, while others wrongly see them as an inconvenience. Earlier this year, the news was released that the American pharmaceutical company GlaxoSmithKline were fined $3 billion (£1.9 billion) after bribing doctors to increase their drugs sales. The company admitted corporate misconduct over the antidepressants named Paxil and Wellbutrin as well as the asthma drug…

Words 1092 - Pages 5

Business Ethics Essay

Business ethics refers to those values, standards and principles that operate within business (McGraw-Hill Irwin). Business ethics can also be defined as written and unwritten codes of principles and values that govern decisions and actions within a company. In the business world, the company’s culture sets standards for determining the difference between good and bad decision making and behavior. In today's modern business world, the road to success requires more than merely technical skills, practical…

Words 645 - Pages 3

Essay On Business Ethics

Business Ethics Papa James Ethics and Moral Reasoning: PHI 208 Instructor David A. Smith March 10, 2014 Business Ethics The issues behind business ethics has expand over times. Sometimes companies do not treat their employee’s right and follow their code of ethics. This could cause troubles for the company. Business ethics is a format of professional ethics that examines moral and ethical problems that come about in a business environment. The heart of any company is their employees. The policies…

Words 783 - Pages 4

Business Ethic Essay

a short introduction to the company Patagonia, Inc. is a Ventura, California-based clothing company, focusing mainly on high-end outdoor clothing. The company is a member of several environmental movements. It was founded by Yvon Chouinard in 1972. Patagonia is a major contributor to environmental groups. Patagonia commits 1% of their total sales or 10% of their profit, whichever is more, to environmental groups. Since 1985, when the program was first started, Patagonia has donated $46 million…

Words 846 - Pages 4

Business Ethics Essay

Business Ethics 5/15/13 Repair Quotas I am a repairs manager at a franchised but independently owned auto repair shop. The owner gave me a monthly volume quota. I would get a bonus for each 30 day period quota that I meet. If I fail to meet the quota three months straight, the owner will fire me or hire another manager and demote me and my salary will be cut with no bonuses. I was doing good for the first four months, then around mid-fall things started to get slow. Business continues to slow…

Words 1843 - Pages 8