...Definitions proposed by R. T. De George (Business Ethics, 2010, seventh edition) Morality covers those practices and activities that are considered importantly right and wrong, the rules that govern those activities, and the values that are embedded, fostered, or pursued by those activities and practices. Ethics is the study of morality. It is a systematic attempt to make sense of our individual and social moral experience, in such a way as to determine the rules that ought to govern human conduct, the values worth pursuing, and the character traits deserving development in life.  Responsibility as a key concept of contemporary morality Although often used, the term is rarely explained in the business ethics literature. Max Weber 1919: separates the ethics of conviction from the ethics of responsibility. Walter Schulz 1972: defines responsibility as „self-commitment originating from freedom in worldly relationships,“ maintaining the polarity of responsibility (with an inner and an outer pole). Responsibility includes three components:  Subject: Authority: Contents: Who is responsible? To whom is one responsible? For what is one responsible? Viktor E. Frankl in “Man’s Search for Meaning“ (1984): “Freedom is only part of the story and half of the truth. Freedom is but the negative aspect of the whole phenomenon whose positive aspect is responsibility. In fact, freedom is in danger of degenerating into mere arbitrariness unless...
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...between personal ethics and business ethics. Then I will provide examples of common ethical problems in business for ethical issues, moral issues, personal ethics and business ethics. An ethical issue can be mirrored closely with a moral issue. According to Trevino and Nelson (2007), ethics can be defined as “a set of moral principles or values,” a definition that portrays ethics as highly personal and relative pg 13. Does that definition sound familiar? According to Merriam-Webster the definition of moral is “of or relating to principles of right and wrong in behavior: ethical”. An ethical issue has to be evaluated as a set of standards that most people deem as right or wrong however, a moral issue has more to do with the belief of an individual person of right or wrong. Ethical issues and moral issues are like walking a fine line therefore, making these issues differ is rather its personal or business. The term ethics can be described both in personal and business. Personal ethics is something that is a moral principle of a person’s belief. Ethics can be defined as “a set of moral principles or values,” a definition that portrays ethics as highly personal and relative (Trevino & Nelson, p. 13, 2007). This is based upon the personal ideals of what’s right or wrong. The choices that we make and the consequences behind them play a role in personal ethics. What are your personal values, morality, principle, virtues and belief? All these will determine personal ethics compared to...
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...Organizational Design & Business Ethics: A Literature Review Abstract A review of the current literature regarding business ethics was conducted analyzing scholarly peer-reviewed articles about business ethics and their relation to leadership, managerial decision making, corporate social responsibility and overall corporate structure. Increased corporate scandals and the discovery of a rise in unethical business practices have thrown the topic of business ethics into the spotlight. Organizations are expected by their stakeholders to implement strong ethics within their corporate structure and culture. This expectation could be accomplished through strong ethical leadership, formal structures and regulations that place emphasis on ethics, and by making a commitment to corporate social responsibility. Using these guidelines will help organizations overcome the various challenges allowing the business to build a strong ethical foundation that will ultimately benefit the company through increased customer and employee satisfaction, which could result in increased profits, organizational sustainability and social status. The review of the literature reveals that there is still plenty of room for exploration on the topic of business ethics and particularly with the topic of ethical leadership. It is recommended that more focus be placed on understanding the influence of strong ethical leadership within an organization and how this influence flows down the organizational...
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...Should Social Responsibility and Business Ethics serve a role in Corporations? NorthCentral University Abstract When you turn on the television, surf the internet or browse the Wall Street Journal the terms – business ethics and social responsibility are discussed. Recently, the Gulf coast oil spill has questioned the social responsibility of British Petroleum. However, can the terms business ethics and social responsibility apply to corporations? A review of two articles - “What is business ethics?” by P. Drucker and “The social responsibility of business to increase its profits written” by M. Friedman evaluates the two ethical terms. These articles suggest both business ethics and social responsibility should not apply to corporations. The focus of this paper will compare and contrast two approaches to business ethics. The conflicting objectives between the two parties will be analyzed. Lastly, my view and definition of business ethics and social responsibility will be conversed. Research for this paper consists primarily of peer reviewed articles and published articles. Should Social Responsibility and Business Ethics serve a role in Corporations? During the twenty- first century, businesses are confronted with many different responsibilities. Each responsibility must be address while ensuring obligations to stakeholders, special interest groups, employees and the environment. Businesses are expected to have very strong ethics, but often this is not the case...
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...Professional Values and Ethics Name Gen 200 Instructor Name Date Team B Professional Values and Ethics Values and ethics are irreplaceable in the business world. Businesses live or die by their ethical reputations. It is very important to understand the importance of professional ethics and how they influence career success. Definition The simplest and most effective place to begin a discussion of ethics and values is with clear, concise, and generally accepted definition of the term values. Ethics are "a set of principles of conduct... that guide decision making and behavior" (uslegal.com, 2009). Values are "a set of principles or ideals that drive and/or guide your behavior" (essentiallifeskills.net, 2009). The philosophies and definitions of ethics and values appear closely related. Individuals and organizations’ Ethics and values appear internally driven and developed. Ethics can be thought of as a code of conduct derived from the value system. Environmental factors influence and determine ethics and values. These factors Include culture, physical environment, and peers. Ethics and values may not always...
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...TopicsAcceptance EssaysArtsCustom PapersEnglishForeignHistoryMiscellaneousMoviesMusicNovelsPeoplePoliticsReligionScienceSportsTechnology Business Ethics What is business ethics? According to International Business Ethics Institute, understanding business ethics can be problematic in the sense that, this field is vast, often encompassing many concerns such as corporate governance, social responsibility, reputation management, accurate accounting and audits, fair labor practices and environmental stewardship to name a few. Moreover, it generally addresses the entire scope of responsibilities and obligations that a company has to each of its stakeholders like clients, employees, shareholders, suppliers and the community. To simply define business ethics, it is a form of applied ethics where it inculcates a sense within a company’s employees on how to conduct business responsibly. Business ethics seems easy to understand but when you get to the real one, you could find yourself in a confusing situation. Since the term ethics can pose many definitions in a broad context and it can be difficult to find a common understanding of the term, hence, most companies refer the concept of the term ethics as integrity, business practices or responsible business conduct. After you have known the basic definition of business ethics, you would now begin to know the business ethics of a chosen company. This paper aims to give some views on how Hewlett-Packard, an international company which provides mostly...
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...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 analysis...
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...Ethics ETH/316 University of Phoenix December 1, 2011 Ethics Ethical development is an important tool needed in today’s society. In this paper, the topic will discuss the similarities and differences between virtue theory, utilitarianism, and deontological ethics. In addition this papers topic will address how each theory addresses ethics and morality in relation to the authors’ personal experiences with virtue, values, and moral concepts. Similarities and Differences in Ethics Theories To understand the similarities between virtue theory, utilitarianism, and deontological ethics the first order is to define the meaning of each. According to Boylan (2009), virtue theory has a definition of cultivating excellence in life and constituting an aspect of the “good person” (Boylan, 2009). Utilitarianism according to Boylan (2009),” is a theory that suggests that an action is morally right when that action produces more total utility for the group than any other alternative” (p. 153). Deontological ethics have a definition as an analysis of reason, this analysis position decisions based for the morally justified good. The similarities between the three theories represent the good in people and how they strive for excellence and justified good. The differences in the three theories begin with the ethics and morality. Virtue theory describes a person’s character, cultivating “excellence in all we do” (Boylan, 2009, p. 43). Striving for excellence can be challenging at times by...
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...Drucker The fundamental goal of any business, whether private or public, is to be profitable, and profitability relates to greater returns to the shareholders. Even in the non-profit segment of the business arena, a healthy bottom line ensures that the company can continue to operate and meet the needs and demands of its clients. The leaders of businesses and organizations are groomed or recruited for their positions because of an innate ability to provide successful business results. However, there is an underlying factor that influences an organizations ability to be successful and provide stakeholders with healthy financial performance. One of the key performance indicators of businesses according to Drucker (1981) is their engagement in ethical business practices or according to Friedman (1970) their social responsibility in the business arena. What is clear is the need for businesses to act in a responsible manner, including implementing actionable measures that include environmental factors, community involvement, financial stability, and corporate sponsorships, as well as having senior leaders who are willing to accept accountability for the actions of the businesses in which they are leading. However, there remains conflicting definitions of ethical business behavior, and “ethics is, after all, not a recent discovery. Over the centuries philosophers in their struggle with human behavior have developed different approaches to ethics, each leading to different conclusions”...
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...ensure a successful business environment. We know that morals and ethics are related to individual character; however ethics and morals carry a very important role in how people conduct business. This essay will differentiate ethical issues and moral issues, and address the difference between personal and business ethics as well as provide common examples of ethical problems in business. What are the differences between ethical issues and moral issues? What prevents an individual from stealing? How about that tiny voice within that stops you in your steps? It is called Morals. Morals explain an individual’s honest and dishonest behavior. Normally, morals are taught by our parents at early age by establishing the difference between good and bad behavior. At a large company in Nevada, certain employees were given favoritism by providing special favors to their manager, such as dog sitting while the manager was out of town, going to happy hour after work hours and going out to lunch. Although other employees in that department were proficient at their work, they only performed their required job duties and as a result were excluded from the special favors. At the same company, pay raises were eliminated, along with 401k contributions, and bonuses; however, upper management continued to receive all of the monetary benefits regardless of what they called a freeze on benefits due to the changes in the economy. According to BusinessEthics.ca "Business Ethics" can be defined as the...
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...| The Role Of Ethics in Business | | | | 1/16/2014 | | In this paper I will discuss the role of business ethics as it relates to business operations and the challenges of starting and maintaining an effective business ethics program. I will begin with Jennings' (2012) definition of ethics in business and its role from his perspective. I will then make comparisons with other authors' opinions for discussion, including Peter Drucker’s (1981) take on business ethics and Carr’s (Jennings, 2012) viewpoint as well. How business ethics' role relates to the notion of Corporate Social Responsibility (CSR) and ongoing challenges will also be discussed. I will conclude with my own comments on the relationship between personal and business ethics and my thoughts on how to start and maintain company ethical standards. Business Ethics And Its Role: Definitions and Discussion The concept of being ethical in business is a mercurial topic these days; given the expansive and rapid global reach of today's multimedia, it can take mere hours for a reputable business image to get tarnished because of one ethics-related incident. In his text, Jennings' definition of business ethics is "...not the study of what is legal but of the application of ethics to business decisions. (Jennings, 2012, p.45)" Many business leaders today focus on what is legally allowed--they are aware of the legal parameters within where they can operate, and simply execute their profit-driven...
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...has in the recent past, raised concerns in all aspects of day to day living. Consequently, over the years a number of definitions and connotations have been associated with this concept, so as to apply it in different professional settings. Particularly, different professions have adopted various codes of ethical; conduct centered on sustainable development. Accordingly individuals working in various sectors constantly seek to adhere to these codes of conduct within their mandates. The engineering sector is one such area where the concept of sustainable development is regarded as a key tenet guiding ethical conduct among engineers. This paper traces the history of the concept of sustainable development and how it is practically incorporated into the engineering profession. Further, this paper examines the current Engineers’ Code of Ethics and how it addresses the issue of sustainable development. There have been various definitions regarding the concept of sustainable development. However, all these definitions revolve around the concept of need and limitation. The all time famous definition was one brought forward by the world Commission on Environment and Development in 1987 that termed sustainable development as, ”development that satisfies present needs without undermining the ability of future generations to satisfy their own needs.”. This definition was further modified in 2002 at the world summit on sustainable development held in Johannesburg to incorporate key development...
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...Improving and Sustaining Business Ethics and Corporate Responsibility ! Business Ethics is emerging as one of the greatest recognized needs in business today. No other element in business life can profit so greatly for such a small investment. Ethics and corporate responsibility not only describes what a company does internally, but also shows what they did externally. If a company lack this, it can cost business dearly. In order to start looking at how to improve and sustain business ethics, we must first ask what ethics itself is. In a simple definition, ethics involves learning what is right from wrong. Then taking that knowledge and acting on what is right. However, that’s not as straightforward as conveyed in a great deal of business ethics literature. Philosophers have been discussing ethics for at least 2500 years, since the time of Socrates and Aristotle. Many consider ethical beliefs to be legal matters. For example, what becomes an ethical guideline today is often translated to a law, regulation or rule tomorrow. Many companies use public relations as a diving board into the world of ethics." " " Public relations are a huge way that companies can effectively show ethics and corporate responsibility. Business ethics and corporate responsibility are a huge part of businesses and companies around the world. In the public’s eye, ethics are a reason why people do business with a specific company or not. A good way for companies to Page 2 of 7 show that they are...
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...According to International Business Ethics Institute, understanding business ethics can be problematic in the sense that, this field is vast, often encompassing many concerns such as corporate governance, social responsibility, reputation management, accurate accounting and audits, fair labor practices and environmental stewardship to name a few. Moreover, it generally addresses the entire scope of responsibilities and obligations that a company has to each of its stakeholders like clients, employees, shareholders, suppliers and the community. To simply define business ethics, it is a form of applied ethics where it inculcates a sense within a company’s employees on how to conduct business responsibly. Business ethics seems easy to understand but when you get to the real one, you could find yourself in a confusing situation. Since the term ethics can pose many definitions in a broad context and it can be difficult to find a common understanding of the term, hence, most companies refer the concept of the term ethics as integrity, business practices or responsible business conduct. After you have known the basic definition of business ethics, you would now begin to know the business ethics of a chosen company. This paper aims to give some views on how Hewlett-Packard, an international company which provides mostly computer technologies worldwide, imposes their generally-established business ethics which means to say that it is enforced to their branches all over the world. Hewlett-Packard...
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...me knocked-out most of the day. Please remember that I’m given extra time on assignments via the Kaplan University office of student disabilities. Abstract This term paper for unit two review three articles, Ethics Consultation in United States Hospitals This term paper also defines 8 financial terms. Keywords: Balance sheet, Shareholder Equity, EBITDA, EBITDAM, Financial Ethics, Financial Benchmarking, Financial Trend Analysis, and Ratio Analysis. Unit 2 Term Paper Business ethics is the appropriate business guidelines and customs regarding debatable issues, like the way a CEO runs his company, illegal stock trading, corruption, business social and monetary obligations. The government’s authorities frequently enforce business ethics, still there are times when businesses alone will use a straightforward structure that organizations can abide by so that they simply may benefit the public interest (investopedia.com, 2013). Article Review The first article chosen for this assignment, is Betsy Gallup’s article Ethics Are an Important Part of Running a Health-Care Facility, and she explains ethics as having three components: independence, integrity and objectivity (2009). The article continues by explaining ethics in the healthcare sector; as patients’ at a healthcare facility or hospital we expect to receive fair and ethical care from the facilities medical professionals attending to us. One expects the same ethical behavior...
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