Business ethics can be defined as “written and unwritten codes of principles and values that govern decisions and actions within a company.” (Love to Know, n.d.) Behaving ethically is extremely important for businesses in order to cultivate an image of responsibility and grow a loyal customer base. Companies have a moral obligation to help the communities from which they profit to grow and prosper.…
In his article “Is business bluffing ethical?,” Albert Carr makes a distinction between an “unethical” poker player and a “crook.”…
Ethics plays a huge role in business as it keeps businesses and employees honest, promotes accuracy, and protects those who could otherwise be hurt by someone else’s scheming. In order to protect ethics, sometimes transparency is needed to help those tempted to commit fraudulent acts. The Bible states, “Better is the poor that walketh in his integrity, than he that is perverse in his lips, and is a fool” (Proverbs 19:1). The…
Business ethics includes the principles and standards that guide behavior in the world of business. The ethical behavior of a company is being judged and determined by its stakeholders. They may not always be right but their judgment affects the company’s reputation in society. There are several benefits of business ethics. Ethics contribute to (Ferrell, Fraedrich, & Ferrell, 2011, pp. 18-21):…
In Bruce Frohnen and Leo Clarke’s essay, “Scandal in Corporate America: An Ethical, Not a Legal, Problem” they discuss their views of American businesses and the little honesty that these businesses have. They claim how important honesty is within businesses and how it will help our public’s well-being and corporate America. They view American business officials to be greedy and many of their jobs just consist of helping businesses find their way around the laws. Frohnen and Clarke then conclude their essay with suggestions on how to change business ethics with education and simply being honest (113-119).…
Taking a look at "two independent variables—the salience of ethical standards regarding deception and the availability of alternatives to agreement— were predicted to influence negotiators ' willingness to deceive. It was hypothesized the presence of ethical standards would reduce deception, even when organizational reward contingencies and other external pressures favored its use. Competing hypotheses regarding the effects of alternatives were also proposed A role-play exercise describing a negotiation between an automotive manufacturer and a supplier of component parts was used to test the study hypotheses. Eighty MBA students participated in the exercise. Results showed that the salience of ethical standards decreased the use of deception by negotiators and led to more equal agreements. However, contrary to expectations, the availability of an alternative had no effect on deception. Implications for theory and practice are discussed and future research directions are offered." (Karl Aquino,1998)…
Followed by, the normative theory that best supports the conclusion. Determination of the considerations for and the process of ethical business decision making to balance corporate and social responsibilities and address moral, economic, and legal concerns are presented. Analysis selected business situations using the predominant ethical theories, such as utilitarian, Kantian, and virtue ethics to guide ethical business decision making are also addressed.…
Business ethics can be both a normative and a descriptive discipline. As a corporate practice and a career specialization, the field is primarily normative. In academia descriptive approaches are also taken. The range and quantity of business ethical issues reflects the degree to which business is perceived to be at odds with non-economic social values. Historically, interest in business ethics accelerated dramatically during the 1980s and 1990s, both within major corporations and within academia.…
Ethical and moral issues in business go hand in hand, and go along well with one another. We each have our own moral standards that make us who we are and what we stand for. Our character comes from our moral ethics, and how we were raised to handle ourselves in certain situations. Ethical behavior comes from society and how we are perceived by society. Ethics in a business setting involves both morals and strong ethics. I am going to attempt to explain what the difference is between moral ethics and business ethics in this paper.…
The ethical theory of Utilitarianism follows the principle of utility. This is to provide the greatest number for the greatest number. Utilitarianism provides this through being a deontological theory – basing its ethics upon consequences. The consequentialist nature allows us to apply Utilitarianism to our own situation and also, unlike deontological theories, looks onwards and into the future. In terms of business ethics, this is good for looking towards the future of a business. However, Utilitarianism ignores the motives of actions, so long as the end is good. In terms of business ethics, this could lead to companies doing good things (such as endorsing Fair Trade) in order to look good as opposed to doing it because it is fair or right. Is this the most useful approach to business, when theories such as Kantian ethics and virtue ethics, in particular, will oppose this view and suggest that business shouldn’t simply blindly follow this idea of the Invisible Hand?…
Cited: Donaldson, Thomas, Patricia H. Werhane, and Margaret Cording. Ethical Issues in Business. 7th ed. Upper Saddle Rivery: Pearson Education, Inc, 2002.…
The utilitarian view states that an action is considered right or good based on its consequences (2009). The utilitarian approach tries both to increase the good done and to reduce the harm done. An ethical corporate action is the one that produces the greatest good and does the least harm for all who are affected, including customers, employees, shareholders, the community, and the environment.…
For mankind, honesty exists in degrees only and is not a perfected and absolute value delivered by anyone all day, everyday; that is my opinion. I read the article entitled “Honesty in Negotiation” by Chris Provis, the crux of which addresses the concept of deception in negotiation and what a person’s obligation is to the truth during the process. In my mind there is not just one road to travel here since we are dealing with other people, and if you do not know them well enough to trust them unequivocally, then you must take into account that they are probably employing deception on some level to gain an advantage; even if it is limited to withholding information, concealment, or exerting influence in an attempt to manipulate a negotiators perceptions towards circumstances that do not exist.…
2. What is Carr’s central claim? “Business…is a game that demands both special strategy and an understanding of its special ethics.” (p. 60) One of these strategies involves calculated lying in the form of bluffing. These special ethics are different from “church ethics” such as honesty, integrity, and decency. This appears to be a wide-sweeping claim. Bluffing is widely practiced in business, and bluffing = “calculated lying.” This means that the “church ethics” of honesty, integrity, and decency have no place in business. That is, “some dishonesty accepted in the narrowly restricted context of negotiation” = “no honesty required anywhere”This appears to be a wide-sweeping claim. Bluffing is widely practiced in business, and bluffing = “calculated lying.” This means that the “church ethics” of honesty, integrity, and decency have no place in business. That is, “some dishonesty accepted in the narrowly restricted context of negotiation” = “no honesty required anywhere”…
Cited: Shaw, William H. and Vincent Barry. Moral Issues in Business. 12th ed. Wadsworth. CA. 2010.…