Studies on business ethics have examined meaningful work as a moral issue concerning the management of others and ourselves, exploring whether there are definable characteristics of meaningful work to which we have moral rights, and whether there are moral duties to ourselves and others to fulfill those rights. In the human quest for meaning, work
If the corporation initially had prioritized ethical values and decision-making evaluations at every level of the business, this scandal could have been prevented at least its magnitude. Contracting ethical officers and on-going training would have educated employees on the proper decision making steps. This dilemma safeguarded that Wells Fargo will take a different approach with its management team, ensuring they are trustworthy and promoting the company values, as customer satisfaction and trust is the
Corporate social responsibility means that businesses have wider responsibilities than simply to their shareholders – they also have responsibilities towards other stakeholders, as well as the environment. Scholars such as Robert Solomon believe that businesses should take on these responsibilities, as they have a duty to behave ethically. Solomon believed that a person should follow their own personal values and attempt to stay ethical no matter whether they are at home or at work. Others, such as Milton Friedman and former British Prime Minister Margaret Thatcher, argue against the idea of corporate social responsibility, believing that the only responsibility of a business is to increase its profits for its shareholders. Friedman went on to argue that for a business to take money from their profits to fund corporate social responsibility projects is equivalent to stealing money from shareholders and is therefore unethical.
Based on the ethical decision the auditors need requiring an ethical judgment based on the issue they found, Cohen at al. (2001). The Personal Values that define as a specific mode of behavior based on the existence of their own moral development (Rokeach, 1973, p. 5) Personal values also known as the human behavior that reflect the three-universal requirement: biological needs, coordinated social interaction, ensuring the warfare of the group. And the last is Moral Philosophy (Schwartz, 1992). The use of moral philosophy is to identify the factor in ethical judgement it self like idealism or relativism and found that the personal values fail to explain the ethical beliefs of auditor and the ethical beliefs depend on the personal value
The researches show that ethical consumerism is focused on modeling ethical consumer behavior depending on the current models of attitude and behavior. It is analyzed from the study of Johnston et al (2011) that the model that is used frequently is Theory of Planned Behavior because it is the theory of attitude and behavior relationships. This theory provides explanation related to behavior, subjective norms, attitudes, perceived behavioral control, and behavior in permanent fundamental arrangement, and behavioral intentions. Bray et al (2011) stated that a measure related to the ethical obligation or personal moral must be added to the traditional theory of planned behavior. This is because this theory has been modified in to provide the basis for
Friedman ingeniously described the next phase of globalization. The argument made by Friedman may be valid as he have portrayed several situations and examples during his travel abroad and conversation with several business as well as non-business people. The conclusion made by Friedman in the book urges government, organizations and individuals to be wary of the dynamic world and stay ahead of the trends that are most likely to cause shift in the way things is being done today in order to stay competitive in the global marketplace. Several evidences discussed in the book that have caused the world to be flattened may or may not be relevant now as the pace of technological change has surpassed the previous predictions regarding the future. Moreover, Friedman even discussed about the forces and challenges that could hinder the pace of flattening of the world citing the threat of Al-Qaeda.
According to king III reports, ethics (integrity and responsibility) is the foundation of and reason for corporate governance. The ethics of govern once requires the board to ensure that the company is run ethically. As this achieved the company earns the necessary approval _ its license to operate from those affected and affecting its operations. (LoDSA, 2009: p21). Unethical behaviour inside the company is frequently caused by unethical individuals.
6.0 Business, Disney and culture. Edward Taylor defined culture as “that complex whole which includes knowledge, belief, art, morals, law, custom and other capabilities acquired by man as a member for society (Hill 2007,p. 91). In spite of the way that there is no particular agreed upon definition, a large portion of the attempts to define culture share some combination of the components listed above in the definition by Edward Taylor. Understanding diverse cultures and adapting business operations to suit different cultures is vital part of International business expansion.
It is the responsibility of leadership to decide what culture is ethically acceptable and what is not. Good culture is promoted by shared ethical values. Ethical leadership recognizes the behavior which is inconsistent with the desired organization cultural values. The management of ethical behavior in corporate culture is also a practice of ethical leadership. A company’s leadership is also involved training to handle the unethical dilemmas.
Basically, ethics are at their essence which is it is the moral judgments about what is right and what is wrong. Business ethics is focusing on examine the policies and conduct within the context of commercial enterprise in an organizational as well as in an individual level. In business, the ethics in business is an applied ethics where professionals and researchers use principles and theories to solve any ethical problems that exist in business. At the quarter of the 20th century, as technologies like internet have made world business or international business all more viable, the business ethics domestically have grown in importance along with the power and significance of major businesses. So that, international business ethics take center stage as a major concern of the modern era.