Premium Essay

What Is Business Ethics

In: Business and Management

Submitted By glorified
Words 754
Pages 4
What is business ethics

Name

MGT/216

Professor Name

University of Phoenix

August 21, 2010

What is business ethics?

Business ethics often measured good standards, by his or her business conduct and professionalism. It is imperative that leaders and management of businesses uphold the business to its highest degree of ethics, also in his or her personal lives. The motive for this is essential, business can influence social and to consumers confidence. If a business is constantly showing unprofessional ethical behaviors, the business communities will consider them not trustworthy. To build business cliental it is vital to maintain a high sense of business ethics.

According to the UFCW, 2010 working’s union said the public think the merchandise Wal-Mart sales are made right here in the United States, most of Wal-Mart department store private label clothing were manufactured in countries worldwide (UFCW, 2010). Wal-Mart is one of the major importers of overseas merchandise according the to UFCWs website. This is an ethical decision because the sweatshops pay is little to nothing, when being compared to the United States. Wal-Mart is as slave masters, put workers in a small room, put material before them, and tell them to work, these overseas countries work at a poverty wage, this is measured as an ethical decision since these sweat shops usually pay workers at very low hourly rate compared to American workers.

When businesses outsource their work overseas, the companies profit rises, stockholders are happy on his or her returns on gross. This is an ethical problem for many reasons, (1). Taking jobs from American workers, this affects the community. (2). In addition, given approval to sweatshops working conditions, compared to the working conditions of the United States workers. The United States government may not have knowledge of…...

Similar Documents

Premium Essay

What Is Business Ethics?

...What Is Business Ethics? Our textbook states that business ethics comprises the principles, values, and standards that guide behavior in the world of business. Being ethical in business is nothing new and has been around a long time. Business ethics are both good and bad. Unfortunately we hear more about the unethical business behavior than we do about the good behavior of the business world. Unethical business practices have been around since slavery and continue today in the corporate world with firms such as Enron and Lehman Brothers. As a baby boomer and a part of the work force since 1967, I have seen a lot of changes in the corporate world of business ethics. After reading our text, it seems to me that teaching business ethics to the corporate world is the same as what most of our parents taught us growing up, “do the right thing”. They taught us the difference between right and wrong and the golden rule to do unto others as you would have them do unto you. Ethical issues have been around since the beginning of time and the majority of those issues were social and moral issues. As the times and cultures changed so did the social and moral issues but they are still either right or wrong and given different names. Gone are the days when a business deal was decided by a handshake and a promise. In today’s society a handshake is only a formality to introduce two people who may make a decision to choose unethical practices to be sure that the bottom line is met in a......

Words: 458 - Pages: 2

Premium Essay

“What Is "Business Ethics"?” Peter F. Drucker

...“What is "business ethics"?” Peter F. Drucker Drucker’s work takes a look at what is business ethics and what is not business ethics as it pertains to some of the major approaches taken by philosophers throughout time. No matter what the place in time the code of ethics as it pertains to Western tradition is based solely on one principle. That principle is “There is only one code of ethics, that of individual behavior, for prince and pauper, for rich and poor, for the mighty and the meek alike.” Drucker P. F. (1981). Given this principle what is business ethics or even ethics at all with given the implications that behavior which is neither immoral nor illegal for an individual would be immoral or illegal if committed by business? There seems to be a lack of compatibility with what ethics is supposed to be and business ethics. For example a person handing his money over to a mugger threatening physical harm isn’t considered unethical although the mugger is a criminal but in the business world paying off union racketeers to prevent disruption is considered to be unethical practice. The confusion around ethics in general and business ethics continues when we start looking at other business systems outside of the United States. Take for example the Japanese and German who consider the appointing of a counselor who was previously a distinguished civil servant based on the recommendation of his colleagues is essential to the public interest. However, if this practice were......

Words: 2306 - Pages: 10

Premium Essay

Business Ethics

...BUSINESS ETHICS: COMPARE AND CONTRAST PAPER By: Karla Powell North Central University What is business ethics? The word business can mean different things, but in this context it means a commercial or industrial endeavor to make/sell products or services. The word ethics is defined as a set of principles of right conduct or a system of moral values. So what does business ethics mean? Used together it means for a commercial/industrial endeavor to form a set of principles or rules to follow while they are making or selling products or services. The word business ethics is frequently heard as it relates to social responsibility. According to the dictionary social responsibility is “an ethical ideology or theory that an entity, be it an organization or individual has an obligation to act to benefit society at large” (the freedictionary.com). Three notable management authorities: Patrick Murphy, Milton Friedman, and Peter Drucker, have different opinions on what business ethics and social responsibility are and what is should mean to the business world. According to Patrick Murphy (2009) responsibility is a key principle of business ethics which implies a moral obligation to act. The word act is used as a verb and means to “do something.” Murphy points out that one is to not only act but to act in a certain way based on the persons extent of the freedom they have, meaning the bigger the space of freedom the bigger the obligation or responsibility one has. So, the higher...

Words: 2022 - Pages: 9

Premium Essay

What Is Ethics?

...PROF : DR. ROSALINDA GOMEZ ETHICS AND ACCOUNTABILITY We, teachers are a model to our students, co-workers and mirror to the community. So with this, teachers should wear good ethics in their life…. What is ethics? The word ETHICS derived from the greek word ETHOS which means “CHARACTER”. It is “mores” in Latin from which come the word moral and morality. definitions of ethics • It is the science of the morality of human act. • The study of man as moral being, one who is rationally able to distinguish being right and wrong. • It concern with the norms of human behavior. the act of correct living Ethics is an art… The art of correct living. Some philosophers regards ethics as the only necessary knowledge. ethics and the Filipino Filipinos believe in moral integrity as essential to life they also believe in a just society. However, some instances, show moral norms are easily ignored for personal interest. When we speaks of “living standard” we inevitably mean “economic” that is, higher salaries and low prices. Perhaps, we should think more of moral standard as our priority. ethics and religion Ethics and religion are both concern with moral education. But they are differ from each other, ethics teaches the value of religion, presenting it as a duty of man towards the supreme being. Religion on the other hand, contributes to the development of ethical thought. Thus, religion and ethics complement each other. ethics norms and law The......

Words: 757 - Pages: 4

Premium Essay

What Is Business Ethics?

...What is Ethics? Ethics is about values, consistently making decisions to be the best person you can be. Eudemonia is a type of happiness, one that only comes from an active well-being by living virtuously. The career of a CAs(SA) involves a great amount of acquired skills, but also the capacity for others to instill their trust. Trust is a value only placed in people of strong moral principle and integrity. The motto of SAICA is “Integritas” meaning ‘totality’,’ integrity’ and for accountants and auditors integrity is without a doubt a non-negotiable ethical value. It is possible for ethics and values to be non-negotiable. The IFRS has been adopted in over 100 countries, although the same cannot be said for ethics. Even though different countries and businesses around the world are creating and adopting their own ‘Code of Conduct for Ethical Behaviour’, there is no organisation to enforce a Globe Code with international ethical standards to guard public and corporate interest. Without a set of ethical codes, a company cannot presume that other organizations around the world act under the same array of ethical standards and codes as they do, and it could ultimately lead to the diminished merit of financial statements that are prepared using the IFRS. Often people are inclined to go down a road that challenges their ethical values because it appears to be less confrontational, easier than the alternative and more beneficial. People fail to think for the long term,......

Words: 669 - Pages: 3

Premium Essay

Business Ethics

...Running head: Ethical and Moral Issues in Business * Ethical and Moral Issues in Business MGT/216 * Ethical and Moral Issues in Business * In this paper I will address the following topics: the differences between moral and ethical issues, the differences between business ethics and personal ethics and list some examples of ethical issues in today’s business environment. The line between morals and ethics may seem blurred; however, some differences between the two do exist. Morals are defined as one’s personal values or beliefs. These values are typically established by religious beliefs or family influences. Ethics are defined as guidelines for behavioral standards. These guidelines are usually set in place by a specific group or groups of people. For example, businesses usually have a specific code of ethics that may differ from a religious group’s code of ethics. What is acceptable for one group or organization may be unacceptable to others. Business ethics are defined as codes or guidelines used to govern behaviors and practices within any given company. Typically all companies abide by a written code of ethics. These codes are used to ensure that employees understand and practice acceptable behaviors in the workplace. Usually a company’s code of ethics is influenced by the culture surrounding that business. In the business world, personal ethics will sometimes be put aside for the greater gain of......

Words: 669 - Pages: 3

Premium Essay

Ethics - What It Is Not

...What is ethics and how should we approach it? Ethics is defined as moral principles that govern a person’s behaviour or the conducting of an activity. This definition on its own does not tell us much about what ethics really is. If you try asking people what they think ethics is, you would also get many different answers. Just as in our ethics classes where different scenarios were put forward and we were required to evaluate the situation and take a stand based on what we believed, there were always opposing views. More interesting though, was the fact that even among the people in the same camp, the reasons that they based their decision on differed greatly. The common approach The three most common perceptions relate ethics to feelings and beliefs, following the law and what society accepts. Feelings and beliefs Our feelings and personal beliefs are probably the first things we consider when we come across a situation requiring us to make a choice. However, ethics is not the same as feelings and beliefs – that is, being ethical is not as clear cut as simply following one’s own feelings and beliefs. This is primarily due to the fact that feelings and beliefs are likely to be influenced by the environment we live in – our parents, our friends and our cultures, amongst others. Take for example a neglected child whose parents are criminals and are constantly committing crimes and going in and out of jail. It is possible that the child may grow up thinking that committing......

Words: 1068 - Pages: 5

Premium Essay

What Is Business Ethics

...Abstract The articles, “What is business ethics?” by Peter Drucker and “The Social Responsibility of Business is to Increase its Profits” by Milton Friedman are about Business ethics and social responsibility to society at large. While both authors agree that we should have ethics in the business world, they argue that society holds corporations and ordinary individuals to different set of standards. Keywords: Social Responsibilities and Business Ethics In order to exam the assigned articles, it was important to understand the true definition of what is meant by social responsibility and business ethics to better understand whether Drucker and Friedman fully exploited ethics as we understand it in the business world today. Equally important was to examine the backgrounds of Milton Friedman and Peter Drucker. According to Wikipedia, Social responsibility is defined as an ethical ideology or theory that an entity, be it an organization or individual, has an obligation to act to benefit the society at large. According to Wikipedia, Business ethics (also known as corporate ethics) is defined as a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise in a business environment. It applies to all aspect of business conduct and is relevant to the conduct of individual and business organizations as a whole. Based on Woopidoo “Milton Friedman (born July 31, 1912), won The Bank of Sweden Prize in Economic......

Words: 1490 - Pages: 6

Premium Essay

Business Ethics What Would You Do

...Chapter 1 – What Would You Do? Business Ethics (section 01) 1. What are the ethical issues? There are several ethical issues involved in this scenario. The first is the confidential information that Ralph had a test to determine if he carried the gene for alcoholism. This report is marked confidential and should not be shared with others, whether it is inside the company and definitely should not be shared outside the company. The second ethical issue is pursuing Ralph to take a blood test to test for this genetic issue. Since company policy states that an employee would be ineligible for coverage of a medical condition if diagnosed prior to employment, Jane shouldn’t worry about it. Ralph was not diagnosed prior to employment with COBA. The next ethical issue is Ralph’s acknowledgement of having the test and the results. When he spoke to Jane, he stated, “just between you and me.” In order for Jane to be ethical, she should not repeat what Ralph told her in confidence since he acknowledges the problem and is trying to fix it. When Jane spoke to Chuck, she let him know that she was worried about Ralph’s quota for the next quarter. I think she already expressed concern and it would be best to sit back and see what Ralph’s performance is for the upcoming quarter before addressing the situation. Jane should address the situation with Ralph first and if unable to come to a resolution, she should pursue it further with Chuck. Jane has to be ethical to the......

Words: 643 - Pages: 3

Premium Essay

Business Ethics

...Business Ethics Beverley Sullivan Introduction to Management and Leadership Walden University February 13, 2015 Introduction Business Ethics is a crucial aspect of any organization, and all successful organizations should adhere to business ethics. Business Ethics emphasizes that organizations adhere to the moral and ethical principles when undertaking day to day operations. I will define ethics and look at what are our moral beliefs. Explain the purpose of ethics and ethics in business, highlight ethical dilemmas, and provide an example of unethical practices involving government officials. Business Ethics Definitions The word ethics is derived from the Greek word Ethos and has a number of meanings. Merriam-Webster’s Collegiate Dictionary gives several definitions of ethics, including a set of moral principles or values. One example describe the word as a theory or system of moral values or the principles of conduct governing an individual or a group. If one looks at the purpose of ethics/morality and the common conception of the purpose of business one can make a reasonably good case that business ethics is an oxymoron. The argument would run along the following lines. To the extent that business and the market in which it flourishes is driven by an unconstrained pursuit of self-interest. Without ethics, business could not function since it requires a great deal of trust and integrity. Duska, R. F. (2007). Business Ethics is the moral......

Words: 1504 - Pages: 7

Premium Essay

Business Ethics

...BUSINESS ETHICS Name Institution of Affiliation Introduction The business environment is changing to embrace ethical conduct in the performance of duties and activities of individuals in professional setting. Nowadays, companies are exposed to public scrutiny where their corporate social responsibility and social accountability are assessed. A shift towards rethinking the various functions of a business entity to encompass ethics into their daily management activities has been undertaken as entities seek to be market leaders. Business ethics encompasses the relationship the company has with the employees, customers, shareholders and the community. Business ethics is the analysis of business activities and situations where issues pertaining what constitute a right or wrong act are dealt with through institutional processes (Jennings, 2011). Consequently, ethics involves ascertaining good practices from bad practices based on the context of morals. On the other hand, moral conduct is the behaviour exhibited by human beings that can either be right or wrong depending on the context whereas business ethics. Business ethics can be viewed from two distinct perspectives; descriptive ethics and normative ethics. Normative ethics ascribes to the justification of moral systems whereas descriptive ethics depicts what ethical practices are. Ideally, the paper will delve into more details concerning what business ethics entails and the importance of business......

Words: 1492 - Pages: 6

Free Essay

What Can Psychology Tell Us About Business Ethics?

...This article review is about an article entitled “What can Psychology Tell us About Business Ethics?” by David Messick (2009). This article was published in the Journal of business ethics. The article explores the relationship between business ethics and psychology through examining the concepts of discrimination and conflict of interest and how they influence ethics in business settings. The article affirms that as much as numerous studies have explored these two concepts from a psychological perspective; there is very limited information on how they influence decision making in business settings. The researcher explores various circumstances related to the two concepts while highlighting scholarly positions to position his arguments. The article is concluded by asserting that analysis of business ethics from a psychological perspective can enhance the ability of promoting high ethical standards business decision-making The position taken by the author is well founded as it is generated through amalgamation of relevant scholarly sources in the positioning of the relationship between business ethics and psychology (Fassin et al., 2011; Shakeel et al., 2011). The author also highlights individual circumstances where his individual unconscious thoughts may have influenced his decision-making. This not only enhances the authenticity of the work, but also its effectiveness to address the research issue. For this reason, it is a good read both in writing and content. Based......

Words: 730 - Pages: 3

Premium Essay

Business Ethics

...on ethics by the Santa Clara University, a number of years ago sociologist Raymond Baumhart conducted a survey asking people about what they think of ethics. The results showed many people linking ethics to their feelings, their religion and standards set by the society (Manuel et al, para. 2). Manuel Velasquez and other authors of an article published by the Santa Clara University on business ethics pointed out flaws in the responses. They believed that feelings sometimes deviate from ethics because a person may feel to do something that is not right (Manuel et al, para. 4). Moreover, they argued that most religions advocate high ethical standards, yet these standards cannot be identified with religion because if they were, they would have only applied to religious people (Manuel et al, para. 5). Finally, saying that ethics are standards that a society set was proved wrong as the standards of behavior in a society can diverge from ethics, considering Nazi Germany which was a society that became morally corrupt (Manuel et al.). This was what ethics are not. Then, what are ethics? Ethics are the well founded standards that are backed up by consistent and well founded reasons. These standards include rights, obligations, honesty, fairness, benefit to society or specific virtues. For example, the rights may include right to life and right to freedom whereas reasonable obligations may include abstaining from stealing and fraud (Manuel et al, para 7). The application of ethics is......

Words: 3013 - Pages: 13

Free Essay

What Is Ethics

...What is ethics? Ethics is “the rules of conduct recognized in respect to a particular class of human actions or a particular group, culture” (Dictionary.com). Ethical principles are embedded contracts that represent who we are and what we stand for, “Ethics must be lived not just talked about” (Karla Robertson p.26). The reason ethics are a major concern in organizations is because, one’s character and ethical behavior within an organization affects attendance, safety, loyalty, security, quality, profitability, and productivity. Organization leaders should practice good ethical behavior so their employees can have blueprint on how they should behave. Leaders must also make sure the employees are well aware that ethical values are highly valued. If leaders learn of an employee’s misbehavior, and choice to do nothing about it, that shows other employees that the organization doesn’t value their code of ethics policy; which isn’t good because this will make some employees fell that if they do the same they wouldn’t have any repercussions. So it’s very important that the leaders act the way they expect their employees to act in order to influence their behavior as far as ethics are concerned, “The behavior and ethical attitude of an employee’s boss is seen as the most important factor determining whether the employee will behave unethically on the job” (Liebig, J.E. 1990). By implementing an ethical policy organizations will prevent harm to others, fulfill public expectations......

Words: 839 - Pages: 4

Premium Essay

Business Ethics and Virttue Ethics

...Business Ethics and Virtue Ethics Virtue ethics is “a broad term for theories that emphasize the role of character and virtue in moral philosophy rather than either doing one’s duty or acting in order to bring about good consequences” (Athanassoulis, 2010). Virtue ethics are certain principles, such as merit or loyalty in which we should make every effort to consent to the full development in our organizations; these ideals are a reflection of what we ultimately have the potential to become. According to Velasquez, et.al, (1998), “Virtues are attitudes, dispositions, or character traits that enable us to be and to act in ways that develop this potential. They enable us to pursue the ideals we have adopted. Honesty, courage, compassion, generosity, fidelity, integrity, fairness, self-control, and prudence are all examples of virtues”. Virtue ethics also does not provide guidance on how we should act, as there are no clear principles for guiding action other than “act as a virtuous person would act given the situation.” (2010). In this paper, I will address and define three of these virtues, apply each virtue respectively to the Mattel: GMP case, and describe which normative ethic was the most useful in evaluating the case. Courage, Fairness and Honesty According to Dictionary.com, courage is the quality of mind or spirit that enables a person to face difficulty, danger, pain, etc., without fear. Courage is being brave in the face of adversity. Dictionary.com......

Words: 1544 - Pages: 7