Ethics
Chapter 1, Introducing Business Ethichs
What is business ethics?
Business Ethics (BE) has been called an oxymoron. By an oxymoron, we mean the bringing together of two apparently contradictory concepts. The statement also suggests that there are not, or cannot be, ethics in business. However, there appears to be good reason to suggest that business ethics as a phenomenon, and as a subject, is not an oxymoron. Whilst there will be disagreements about what exactly constitutes “ethical” business activity, it is possible to introduce a fairly uncontroversial definition of the subject itself:
The subject of business ethics are:
“Business Ethics is the study of business situations, activities, and decisions where issues of right and wrong are addressed”.
It is worth stressing that by “right” and “wrong” we mean morally right and wrong. E.g. commercially, strategically or financially right or wrong. Moreover, by “business ethics” we do not mean only commercial business, but also government organizations, pressure groups, non-for-profit businesses, charities and other organizations.
Business ethics and the law
There is considerable overlap between ethics and the law. The law might be said to be a definition of the minimum acceptable standards of behavior. BE is primarily concerned with those issues not covered by the law, or where there is no definite consensus on whether something is right or wrong. In one sense, BE can be said to begin where the law ends. BE is about the grey areas of business, or where values are in conflict.
Studying BE should help you make better decisions, but this is not the same as making right decisions.
Defining morality, ethics, and ethical theory * Morality is concerned with the norms, values and beliefs embedded in social processes which define right and wrong for an individual or a community. * Ethics is concerned with the study of morality and the application of reason to elucidate specific rules and
What is business ethics?
Business Ethics (BE) has been called an oxymoron. By an oxymoron, we mean the bringing together of two apparently contradictory concepts. The statement also suggests that there are not, or cannot be, ethics in business. However, there appears to be good reason to suggest that business ethics as a phenomenon, and as a subject, is not an oxymoron. Whilst there will be disagreements about what exactly constitutes “ethical” business activity, it is possible to introduce a fairly uncontroversial definition of the subject itself:
The subject of business ethics are:
“Business Ethics is the study of business situations, activities, and decisions where issues of right and wrong are addressed”.
It is worth stressing that by “right” and “wrong” we mean morally right and wrong. E.g. commercially, strategically or financially right or wrong. Moreover, by “business ethics” we do not mean only commercial business, but also government organizations, pressure groups, non-for-profit businesses, charities and other organizations.
Business ethics and the law
There is considerable overlap between ethics and the law. The law might be said to be a definition of the minimum acceptable standards of behavior. BE is primarily concerned with those issues not covered by the law, or where there is no definite consensus on whether something is right or wrong. In one sense, BE can be said to begin where the law ends. BE is about the grey areas of business, or where values are in conflict.
Studying BE should help you make better decisions, but this is not the same as making right decisions.
Defining morality, ethics, and ethical theory * Morality is concerned with the norms, values and beliefs embedded in social processes which define right and wrong for an individual or a community. * Ethics is concerned with the study of morality and the application of reason to elucidate specific rules and