ethics
Ethical and legal obligation of business
Introduction
Business ethics: It is a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise in business environment. It applies to all aspect of business and is relevant to the conduct of individuals and entire organization. Ethics is mainly concerned with what is good versus bad, what is right versus wrong. Deontology is an ethical theory that holds that actions are right or wrong independent of their consequences. Utilitarianism is an ethical theory that holds that actions are right if they produce the greatest amount of good for the greatest number of people.
Corporate social responsibility is the obligation towards the society assumed by business. The business maximizes its positive effects on society and minimizes and its negative effects. An illustration of of an ethical and social responsibility issue related to the textile manufacturing business. In today’s global business where large multinational corporations like the textile industry face charges of violating human rights in third world countries. Using child labor questions the human rights, ethics and social responsibility of the textile manufacturing industry. An analysis of how the textile manufacturing illustration applies to decision making and operations in an ethical and social responsible business. The economic responsibilities of business would produce products that society wants at a price that perpetuates the textile business. The textile manufacturing business decides on legal responsibilities where the obey local state federal and global laws. The textile manufacturing business makes decision based on their ethical responsibilities of meeting other societal expectation written or not written by law.
Ethical obligations are a set of “ought to” standards that define a moral course of action and draw a line between right and wrong. Although ethical obligations in business share
Introduction
Business ethics: It is a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise in business environment. It applies to all aspect of business and is relevant to the conduct of individuals and entire organization. Ethics is mainly concerned with what is good versus bad, what is right versus wrong. Deontology is an ethical theory that holds that actions are right or wrong independent of their consequences. Utilitarianism is an ethical theory that holds that actions are right if they produce the greatest amount of good for the greatest number of people.
Corporate social responsibility is the obligation towards the society assumed by business. The business maximizes its positive effects on society and minimizes and its negative effects. An illustration of of an ethical and social responsibility issue related to the textile manufacturing business. In today’s global business where large multinational corporations like the textile industry face charges of violating human rights in third world countries. Using child labor questions the human rights, ethics and social responsibility of the textile manufacturing industry. An analysis of how the textile manufacturing illustration applies to decision making and operations in an ethical and social responsible business. The economic responsibilities of business would produce products that society wants at a price that perpetuates the textile business. The textile manufacturing business decides on legal responsibilities where the obey local state federal and global laws. The textile manufacturing business makes decision based on their ethical responsibilities of meeting other societal expectation written or not written by law.
Ethical obligations are a set of “ought to” standards that define a moral course of action and draw a line between right and wrong. Although ethical obligations in business share