Business Hw

Business and corporate ethics

I would like to start defining ethics; ethics is Ethics, also known as moral philosophy, is a branch of philosophy that addresses questions about morality—that is,concepts such as good and evil, right and wrong, virtue and vice, justice and crime, etc.

Business ethics (also corporate ethics) is a form of applied ethics or professional ethics that examinesethical principles and moral or ethical problems that arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entireorganizations.



1. APPROACHES TO BUSINESS ETHICS

When business people speak about “business ethics” they usually mean one of three things: (1) avoid breaking the criminal law in one’s work-relatedactivity; (2) avoid action that may result in civil law suits against the company; and (3) avoid actions that are bad for the company image.

it is not likely that philosophers can teach anyone to beethical. The job of teaching morality rests squarely on the shoulders of parents and one’s early social environment. By the time philosophers enter the picture, it is too late to change the moralpredispositions of an adult. Also, even if philosophers could teach morality, their recommendations are not always the most financially efficient. Although being moral may save a company from somelegal and public relations nightmares, morality in business is also costly. A morally responsible company must pay special attention to product safety, environmental impact, truthful advertising,scrupulous marketing, and humane working conditions. This may be more than a tight-budgeted business bargained for.

A second approach to business ethics is that moral obligations in business arerestricted to what the law requires. The most universal aspects of Western morality have already been put into our legal system, such as with laws against killing, stealing, fraud, harassment, or reckless...