1. In business ethics it’s all about the study on how we got to take in place a business and conduct it. It can be also said that business ethics is a study to regulate certain actions within the organization as to ‘which are right, rather than the wrong thing to do”. Having or practicing ethical behavior in the business organization promotes good moral values in the organization as a group an on an individual basis as well leading to better relations with the customers and with other business organization and clients. In the business organizations ethics are a very important subject, they are as follows: “Business depends on society, so it must respond to the needs of society” As the society and the business organization are connected to
Business ethics in any business organization is important as it needs to confirm the expectations of the stakeholders and the society. The success on any society depends mainly on the society so if they did not gain their satisfaction they will not succeed. The main aim of the ethics in any business is to provide stability, attract employees, increase the reputation, attract investors and mainly increase the profit as much as possible. Some other important issues dealing with the ethics is the environmental responsibilities. This can be recognized in treating the waste products correctly, control the air pollution by minimizing the waste gases released.
Both concepts work its function when the individual takes actions or acts (ethically) in order to manage ethical issues. Differences • Starts from individual's value which is act upon his actions while performing management duties and responsibilities. • Starts from managers applying internal policies, rules and regulations as well as stipulated government laws to manage ethical issues. • One's ethical values is instilled by his knowledge, mentality, experience, and other factors such as social background. • Ethical values is instilled by myriad rules, regulations, policies and values which is practiced by the company itself.
A company must make a competitive return for its shareholders and treat its employees fairly. A company also has wider responsibilities. It should minimize any harm to the environment and work in ways that do not damage the communities in which it operates. This is known as corporate social responsibility, CSR (Businesscasestudies.co.uk, 2015). The coursework
Liedka (1991) suggested that many managers find themselves forced to choose between preserving their relationship with the firm and following their own values. Tetlock (1992) showed that individuals confronted with complex problems view a justifiable decision as the most socially rational, demonstrating the power of perceived organizational norms. Beu and Buckley (2004) argued that organizations can affect the rules of the game in favour of ethical behaviour by implementing ethics programs. In this study two types of ethics programs are described, Codes of ethics and Values based organizations. In line with this paper, under Codes of ethics the employee is accountable for the organization.
(Reference Book:- Ethics in organizations by David Murray and Business Ethics by Andrew Crane & Dirk Marten ) The decision which can affect individual in a positive or negative way is a moral decision and the decision which is made in business generally affects the individual the most. Anybody who is taking decision in business should know which decision is morally correct and which is wrong. So what’s morality? Is morality means etiquette – Public
IT manager of a credit card company is being involved into ethical dilemma. The ethical dilemmas which are raised by Paul who break the prohibition of company policy on using company resources for personal purpose. A proper discussion on two fundamental ethical theory – Utilitarianism and Kant deontology – is believed to provide a practical, systematic and structured assessment of the ethical judgements in this case (Barnett, et al., 1998). It is arguably that two different perspectives approach could offer a better insight towards ethical case in business context compared to single universal theory. Both utilitarianism and Kant framework will be presented in pleasure and pain table and Kant’s moral test respectively.
Position: Companies and business people should be ethical Point 1: Being ethical in business strengthens the systems and relationships that support and sustain it Individuals, through corporations, have the right to amass wealth, but morality dictates that they do so ethically. Frist, principles of justice argue that unethical business practices, although may be legal, are unfair
Ethics defined as the principles of morally acceptable conduct of an individual. (Dr Ho Jo Ann and Dr Tee Keng Kok, 2011). Morality is a certain social which adjusts between people, as well as personal and social relationships between codes of conduct combined. Marketing ethics refers to business relationships with all stakeholders the sum of codes of conduct, restricted corporate behaviour outside the objective economic laws and the legal system is another factor. Ethical problems in management have included pricing level, advertising message, product promotions, working conditions, customer service, workforce reductions and environmental pollution.
It involves emphasize transparent, trust, responsible personal, and organizational marketing policies. Not having any ethic will damage consumers and other stakeholders. Therefore, it is equally important for both small to large companies but it does differ from one another. Just like how, generally speaking, the term “ethics” refers to the way people relate in a moral manner toward others in all of their various interactions, marketing ethics refers to the application of this morality in reference to the way companies conduct businesses with their consumers and other related parties. Marketing ethics may also refer to the manner in which a business presents its products to consumers generate more sales and make more profit.