...Business Essay on Morality and Ethics in Corporate World - Research Pa... http://www.studymode.com/essays/Business-Essay-On-Morality-And-Eth... Business Essay on Morality and Ethics in Corporate World SIGN IN SIGN UP SEARCH DOCUMENT S BOOK NOTES AP NOT ES Business Essay on Morality and Ethics in Corporate World By Divyashrii | August 2013 Page 1 of 1 The term "business ethics" is used in a lot of different ways. Business ethics is a form of applied ethics (Broni, 2010) that examines ethical principles and moral or ethical problems that arise in a business environment (Solomon, 1991). It applies to all aspects of business conduct (Baumhart, 1968; Ferell - Fraedrich, 1997; Singer, 1991) and is relevant to the conduct of individuals and business organizations as a whole (Bernard, 1972; Donaldson, 1982:36). Applied ethics is a field of ethics that deals with ethical questions in many fields such as technical, legal, business and medical ethics (Preston, 1997:6-11). Business ethics consists of a set of moral principles and values (Jones Parker - Bos, 2005:17) that govern the behavior of the organization with respect to what is right and what is wrong (Badiou, 2001; Seglin, 2003). It spells out the basic philosophy and priorities of an organization in concrete terms (French, 1979; French, 1995). It also contains the prohibitory actions at the workplace 1 of 5 8/7/2014 8:16 PM Business Essay on Morality and Ethics in Corporate World - Research Pa... http://www.studymode...
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...Essay On Morality & Ethics in corporate world In today’s world of development the company form of organisation is said to be the most beneficial one and after availing the development how to sustain the same is of much significance. Two important principles that could help one sustain the same are Morality & Ethics. In broader sense the terms morality & ethics are defined as under : Morality : It is differentiation of intentions, decisions and actions between those that are “good” and those that are “bad”. Ethics : It is a branch of philosophy that involves systematizing, defending, and recommending concepts of right and wrong conduct. So in order to develop an organisational structure that has a strong resistivity in the competitive edge, it must have the above said to principles at its base. Talking about morality and ethics in the context of a corporate world, it is must that a company that has development of themselves and the development of the country as its final mission it is surely got to have Morality and Ethics as is Milestone In today’s world economy there are many companies who claim that their morals and ethics are strong enough so as to guide the entire organisation and the nation as well. It is the duty of all the business entrepreneurs and the corporate entities to inculcate the feeling of returning the society what they want and in all the ways as is desirable. Being ethical in the business requires acting with an awareness of: The need for...
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...the aforementioned phrases. However, what are they classified as? Do these expressions deal with morality, ethics, or both? Although these terms are often confused, morality and ethics are very distinct. On the surface this terminology may seem analogous, but their definitions are quite dissimilar. Morality and ethics are major components when examining the decision making of corporations. Despite having different meanings, morality and ethics are interrelated words that play a major part in business organizations. Morality The term morality deals with an individual or groups interpretation of what is right and wrong. In fact, it can be defined as the standards that a group or individual has about what is good and evil or right and wrong (Velasquez, 2006). Morals for the most part, are fairly unwavering within a group. The vast majority of people would agree that it is wrong or immoral to murder, steal, lie, or cheat. These are examples of moral standards. Moral standards are described as the types of behaviors or actions believed to be morally good or bad (Velasquez, 2006). There is also what is known as nonmoral standards. These principles judge what is good or bad in a nonmoral way such as good grammar or proper etiquette (Velasquez, 2006). In addition to understanding the meaning of morality, it is important to understand where these standards come from. Morality comes from many different influences in a person’s life. These standards are usually absorbed as...
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...The talk Biblio Service Michaela Haase Jackall, R., The World of Corporate Managers – Twentieth Anniversary Edition, Oxford University Press, New York 2010 A Capsule Summary of the Book This is the second edition of a book whose first edition was published in 1988. There has been no revision of the book; however, Jackall has added a new chapter titled “Moral Mazes and the Great Recession” to it. His description of the financial crisis brings nothing really new to the fore: it shows that nothing has changed in the aftermath of the convulsions caused by several occurrences of crisis in the financial sector or the business world in the last decade. Managers (of banks, insurance enterprises, of Enron, etc.) play(ed) high-risk games at the cost of the organization; they plunder(ed) the assets of employees and shareholders as well. If they win, they take all the gain; if they lose, they call for the taxpayer’s money because their organizations are too big to fail. They never think about stinting with their bonuses even if the taxpayers have to save the organization they work for because otherwise these same managers would leave it and so dispossess it of their skills and competence which, so they think, are badly needed to set it afloat again. Objective and Targeted Audience Jackall’s detailed sociological study of the managerial world is not written for a particular target group. As Jackall has clarified throughout a recent interview,1 his study is “part of a larger project...
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...What is Business Ethics Troy Jaskolka MGT/216 July 26, 2010 William Carroll What is Business Ethics In today’s business culture, ethics is a trait highly publicized by not only the media but also by business professionals. According to “BNET Business Dictionary” business ethics is a system of moral principles applied in the commercial world. Business ethics provide guidelines for acceptable behavior by organizations in both their strategy formulation and day-to-day operations. Business ethics is also known as morality in business. This definition constitutes a trait that should be acceptable business acumen. Today, business ethics are portrayed as skewed and self serving. Because of such scandals as Bernie Madoff, Enron and the Arthur Anderson scandal, millions of people have come to the conclusion that businesses have pushed aside these ethics and welcomed the bottom line as their only source of morality. With such scandals taking over print media, television and radio, it is hard for one not to develop mistrust. Consumer confidence issues are a category of business ethics that affect not only the community but also the well being of the company. In order for a company to sustain in both the community and business world, sales must incrementally adjust to the growth of the company. A drop in sales because of mistrust issues can result in declining stock performance, layoffs, and eventually company closings. Consumer confidence also...
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...Essentially, managers try to gauge whether they feel “comfortable” with proposed resolutions to specific problems, a task that always involves an assessment of others’ organisational morality and a reckoning of the practical organisational and market exigencies at hand. The notion of comfort has many meanings. When applied to other persons, the idea of comfort is an intuitive measure of trustworthiness, reliability, and predicability in a polycentric world that managers often find troubling, ambiguous, and anxiety-laden. Such assessment of others’ organisational morality is a crucial aspect of a more general set of probations that are intrinsic to managerial work. (p.13) Jackall notes that power in corporations is centralised at the top in the person of the CEO, while ‘responsibility for decisions and profits’ is pushed down the line as far a possible (p.17) This has ethical implications. The displacement of responsibility for decisions onto subordinates takes the burden from senior managers and the person at the top. Too much knowledge is a dangerous thing for a CEO. It’s much better to have a subordinate take the blame for things which go wrong and to know nothing of the details. First, because they are unfamiliar with - indeed deliberately distance themselves from - entangling details, corporate higher echelons tend to expect successful results without messy complications. This is central to top executives’ well- known...
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...ETHICAL PRINCIPLES IN BUSINESS 3.1 Ethics Ethics has been defined as concerned with the development of moral standards by which actions, situations and behaviour can be judged. (Boyd et al) Oelgeschlager. et al gave the simplest definition of ethics as standards conduct. Ethics is the discipline that examines one’s moral standards or the moral standards of a society. It asks how these standards apply to our lives and whether these standards are reasonable or unreasonable, that is, whether they are supported by good reasons or poor ones. Therefore, a person starts to do ethics when he or she takes the moral standards absorbed from the family, church and friends and asks: “What do these standards imply for the situations in which I find myself? Do these standards really make sense? What are the reasons for or against these standards? Why should I continue to believe in them? What can be said in their favour and what can be said against them? Are they really reasonable for me to hold? Are their implications in this or that particular situation reasonable?” Ethics is the study of moral standards, the process of examining the moral standards of a person or society to determine whether these standards are reasonable or unreasonable in order to apply them to concrete situations and issues. The ultimate aim of ethics is to develop a body of moral standards that we feel are reasonable to hold standards that we have thought about carefully and have decided are justified standards for us...
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...Course name | Ethics in Administration | Course code | ADS452 | Credit hours | 4 | Resource person / contact no. / email | Nadrawina Isnin (082-678200 (O)nadrawin@sarawak.uitm.edu.my | Course outcomes | CO1 - Explain the concept of ethics, role, importance and various theories and thought of ethics in administration; | | CO2 - Identify the implications arising out of the ethical issues; and | | CO3 - Apply the concept, skills and methods used for evaluating ethical issues in case analysis and recommend strategies for improvement. | WEEK | HOUR | TOPICS | Teaching & Learning Activities | References | 1 | 2 | Overview of the course * Scheme of work * Assessment * Mid semester examination * Final examination | * Ice breaking * Entrance Survey * Blended Learning Requirement * Coursework requirement * Lecture & discussion (F2F) | Main text - Thiroux, Jacques P (2008) Ethics: Theory and Practice. 9thed. New Jersey: Prentice Hall. | 1 | 4 | Topic 1: Introduction to Ethics * The Concept of Ethics * Ethics & Morality * Sources of Morality * Ethics & Reason * The Importance of Study Ethics | * Lecture & tutorial(F2F) | Thiroux, Jacques P (2008) Ethics: Theory and Practice. 9thed. New Jersey: Prentice Hall. | 2 | 4 | Topic 2: Ethical Theories * Consequentialism & Non-Consequentialism * Ethical Egoism * Utilitarianism | * Lecture & tutorial(F2F) | Thiroux, Jacques P (2008) Ethics: Theory and Practice...
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...Although academic business ethics is relatively recent, its intellectual roots are found in the corporate social responsibility (CSR) and business and society literatures originating in law and in business in the early and middle 20th century (Marcoux). The corporate focus is evident in the titles of early works of academic business ethics that have done much to shape the subsequent discussion in the field. Velasquez’s "International Business, Morality and the Common Good" 1992 paper takes business ethics to be concerned centrally with questions about the corporation's proper role in and relationship to the social order. These questions are said to surround the moral status of the corporation: Is the corporation a moral agent? Do multinational companies have any moral obligations to contribute to the international common good? While dominant management thinking is steered by profit maximization, this paper proposes that sustained organizational growth can best be stimulated by attention to the common good and the capacity of corporate leaders to create commitment to the common good. However, the complex process of re-orientating corporate priorities towards the common good requires alertness and concerted effort if both business and society are to truly benefit. In our contemporary post-modern context, it has become increasingly awkward to talk about a good that is shared by all. This is particularly true in the context of multi-national corporations operating in global markets...
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...Orissa Stewart Liberty University Business 530, Faith Integration Ethics and business is a practice that most businesses follow, although ethical and moral issue is a debated issue. Ethical and moral issues extend far beyond on treating others in a certain way. It begins with a belief system and faith in God. Once a person develops a relationship with God, they usually change for the better. In addition, the words ethics and morality in religion and theology may have been the cause for academia in the field of finance and economics which stray’s away from identifying ethical and moral considerations in the practice of finance and economics (Gupta, Rakesh, & Sukumaran, 2013). Unfortunately, if you are a Christian in the business world then the possibility of compromising your faith increases from even the smallest decisions such as prayer in the workplace. Whatever the case, there are numerous opportunities to compromise faith when it comes to business ethics. Christians need to be aware of this weakness and fight becomes hard to stand firm. According to authors Gupta, Rakesh, Sukumaran, and Aswini (2013), Ethics and morality in finance, discusses the issue of ethics and morality in finance that extends to accounting in the area of marketing. Regardless if you work for yourself or someone else Christians will face the time when they have to make decisions that can affect the way their walk in Christian faith at work. Mark 7:20-22 (ESV) And he said...
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...ETHICAL CHALLENGES FOR BUSINESS IN THE NEW MILLENNIUM: CORPORATE SOCIAL RESPONSIBILITY AND MODELS OF MANAGEMENT MORALITY Archie B. Carroll Abstract: As we transition to the 21 s« century, it is useful to think about some of the most impor tant challenges b u s i n e s s and other organizations will face as the new millennium begins. What will constitute "business as usualI" in the business ethics arena as we start andiiiuvc iniu intonew i^eiiiuiyr iviy uvciaii iiiijugiii I3 tiioi wethought is that we will move me the new iry? My overall win aiiu pulsate into the future on our current trajectory and that the new century will not cause cataclysmic changes, at least not immediately. Rather, the problems and challenges we face now we will face then. Undoubtedly, new issues will arise but they will more likely be extensions of the present than discontinuities with the past. A s we transition to the 21*' century, it is useful to think about some of the most important challenges business and other organizations will face as the new millennium begins. As I write this essay, the public seems to be more concerned with the Y2K problem and whether their computers will keep working, their power will stay on, their investments will be secure, there will be food in the pantry, airplanes will still fly, and that life as we know it will continue as usual. Optimistically, by the time this is published we will all look back and conclude that technology is amazing...
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...A HISTORY OF BUSINESS ETHICS The history of “business ethics” depends on how one defines it. Although the term is used in several senses and varies somewhat for different countries, its current use originated in the United States and became widespread in the 1970s. The history of business ethics in the United States can be viewed as the intersection of three intertwined strands. Each of these in turn can be divided into at least two related branches. The first strand, which I shall call the ethics-in-business strand, is the long tradition of applying ethical norms to business, just as it has been applied to other areas of social and personal life. This strand can be divided further into the secular and the religious branches. The second strand is the development of an academic field, which has been called business ethics. It also has two main branches, one being the philosophical business-ethics branch, which is normative and critical, and the other the social-scientific branch, which is primarily descriptive and empirical. The third strand is the adoption of ethics or at least the trappings of ethics in businesses. This again subdivides into the integration of ethics into business and business practices on the one hand and the commitment to corporate social responsibility on the other. Business ethics was introduced into Europe and Japan in the 1980s although the term did not translate easily, and the development in each country varied from that in the United States because...
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...Biblio Service Michaela Haase Jackall, R., The World of Corporate Managers – Twentieth Anniversary Edition, Oxford University Press, New York 2010 A Capsule Summary of the Book This is the second edition of a book whose first edition was published in 1988. There has been no revision of the book; however, Jackall has added a new chapter titled “Moral Mazes and the Great Recession” to it. His description of the financial crisis brings nothing really new to the fore: it shows that nothing has changed in the aftermath of the convulsions caused by several occurrences of crisis in the financial sector or the business world in the last decade. Managers (of banks, insurance enterprises, of Enron, etc.) play(ed) high-risk games at the cost of the organization; they plunder(ed) the assets of employees and shareholders as well. If they win, they take all the gain; if they lose, they call for the taxpayer’s money because their organizations are too big to fail. They never think about stinting with their bonuses even if the taxpayers have to save the organization they work for because otherwise these same managers would leave it and so dispossess it of their skills and competence which, so they think, are badly needed to set it afloat again. Objective and Targeted Audience Jackall’s detailed sociological study of the managerial world is not written for a particular target group. As Jackall has clarified throughout a recent interview,1 his study is “part of a larger project. This is...
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...Today’s business world is experiencing changes concerning ethics. This paper will give an overview of the differences between moral and ethical issues pertaining to the business world and review differences between personal and business ethics. Finally, I will give real-world examples of common ethical problems past and present in the business world. According to DeGeorge, “Morality consists of rules of human behavior and specifies that certain actions are wrong or immoral and that others are right or moral” (p. 6). Issues of morality are often linked to religion. Moral issues can have serious or immediate effects. Moral issues deal with personal values established by individuals’ upbringing and background. Moral issues are also dependent upon ones social background. Moral views are on a broader level than ethics. According to Shaw and Barry, “Business ethics are mainly concerned with morality in the narrow sense.” Etiquette can have an interaction with morality depending upon the situation. Ethics is refers to a philosophy dealing with values relating to human conduct, with respect to the rightness and wrongness of certain actions and to the goodness a badness of the motives and ends of such actions (Gale, par 1). Ethical issues generally deal with the breaking of laws and rules established by a governing board for an organization. Ethical issues have become more complex because of global business world and different customs worldwide. Personal ethics are based upon...
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...INTRODUCTION TO ETHICS WHAT IS ETHICS Ethics is a major branch of philosophy, encompassing right conduct and good life. It is significantly broader than the common conception of analyzing right and wrong. A central aspect of ethics is "the good life", the life worth living or life that is simply satisfying, which is held by many philosophers to be more important than moral conduct. Simply put, ethics involves learning what is right or wrong, and then doing the right thing -- but "the right thing" is not nearly as straightforward as conveyed in a great deal of business ethics literature. Most ethical dilemmas in the workplace are not simply a matter of "Should Bob steal from Jack?" or "Should Jack lie to his boss?" (Many ethicists assert there's always a right thing to do based on moral principle, and others believe the right thing to do depends on the situation -- ultimately it's up to the individual.) Many philosophers consider ethics to be the "science of conduct." Philosophers have been discussing ethics for at least 2500 years, since the time of Socrates and Plato. Many ethicists consider emerging ethical beliefs to be "state of the art" legal matters, i.e., what becomes an ethical guideline today is often translated to a law, regulation or rule tomorrow. Values which guide how we ought to behave are considered moral values, e.g., values such as respect, honesty, fairness, responsibility, etc. Statements around how these values are applied are sometimes called moral or ethical...
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