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Ethic Psper

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Ethics

MGT/498
November 19th, 2012
Dr. Tug Gokaydin, Ph.D., MBA, PMP, CISA, CISM

Introduction to Ethics

Ethics is known to be a moral philosophy; it involves systematizing, defending, and recommending concepts of right and wrong conduct. Business ethics reflects the philosophy of business, one of whose aims is to determine the fundamental purposes of a company. Company's that’s purpose is to maximize shareholder returns, then sacrificing profits to other concerns could be a violation of its fiduciary responsibility. The role of ethics in business and the social responsibility as it relates to the strategic plan should satisfy the needs of the stakeholders ("Ethics", 2012).
The Role of Ethics in Business Making decisions in business is critical and being ethical when making those decisions is vital to the integrity of the company and the individuals making the decisions. There are many ethical theories to choose when making decisions. Moral systems give a unique perspective on situations and can help to predict the outcome of a decision. Managers and business owners should consider various schools of thought when ethically making decisions. The function by identifying the consequences of each action, not only for the person taking the action, but for everyone else involved. The effects of the decision by mentally calculating and weighing the costs and benefits to the company or department affected. Look at the benefit to establish solutions that provide the greatest good for the company and stakeholders. Also, considerations regarding business decision can be different depending on the situation, different thoughts and considerations must be given depending on the issue at hand ("Business and Ethics", 2012).
Ethics and Social Responsibility

Ethics addresses principles of the individual and social responsibility addresses how a

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