What Is Milton Freedman’s Argument Against Companies Having an Overtly Ethical Policy and What Are Any of the Alternative Views?
Table of Contents Question: What is Milton Freedman’s argument against companies having an overtly ethical policy and what are any of the alternative views? 2 1. What is ethics 3 2. What is ethics in business 3 3. Arguments made by Milton Friedman regarding on ethic in a business 5 4. Opinions on Milton Friedman arguments and alternative view 6 5. Example of business/company that have overtly ethics issues in the business 7 6. Conclusion from the example given 8 7. Overall conclusion for this assignment 9 References 10
Question: What is Milton Freedman’s argument against companies having an overtly ethical policy and what are any of the alternative views?
1. What is ethics
Every task or job that being done daily required ethics. Not only in business, teaching, studying and others, it required ways of doing that job according to the job description set. By that, ethics means is a way of doing thing, either doing thing right or wrong based on the job requirements. Sometimes, people had mistake understanding between ethics and law. In ethics, generally it’s more on moral, behavior, manner which been done when doing a task given. While law mean a set of rules and regulation that been set on how to do the thing/task correctly. However, ethics and law is related. When someone did not follow the ethics stated, such as, cheated or doing the wrong ways to complete the task given, when caught, that person will be charged as breaking the law. That why ethics and law each connected.
As for business and companies, there are Code of Ethics that been set by the management to be follow by the employees. In this code of ethics, there are rules that employees that work under same companies must follow. Example of rules is that “never take gifts or money from companies that this company had an agreement on it”. In this examples, the companies stated that never take any kind of gifts or money given by the client, this is because, sometimes, it
Question: What is Milton Freedman’s argument against companies having an overtly ethical policy and what are any of the alternative views?
1. What is ethics
Every task or job that being done daily required ethics. Not only in business, teaching, studying and others, it required ways of doing that job according to the job description set. By that, ethics means is a way of doing thing, either doing thing right or wrong based on the job requirements. Sometimes, people had mistake understanding between ethics and law. In ethics, generally it’s more on moral, behavior, manner which been done when doing a task given. While law mean a set of rules and regulation that been set on how to do the thing/task correctly. However, ethics and law is related. When someone did not follow the ethics stated, such as, cheated or doing the wrong ways to complete the task given, when caught, that person will be charged as breaking the law. That why ethics and law each connected.
As for business and companies, there are Code of Ethics that been set by the management to be follow by the employees. In this code of ethics, there are rules that employees that work under same companies must follow. Example of rules is that “never take gifts or money from companies that this company had an agreement on it”. In this examples, the companies stated that never take any kind of gifts or money given by the client, this is because, sometimes, it
References: 1. Wikimedia Foundation (n. d.) Wikipedia [online] available from <http://en.wikipedia.org/wiki/Lehman_Brothers> [10 October 2011] 2. WordPress.com (n. d.) The week in Ethics: Columns on Ethics, Leadership and Life [online] available from <http://theweekinethics.wordpress.com/2010/03/18/lehman-brothers%E2%80%99-perfect-storm-where-ethical-lapses-met-bad-judgment/> [10 October 2010] 3. Colorado.edu (n. d.) The Social Responsibility of Bussiness is to Increase its Profit [online] available from <http://www.colorado.edu/studentgroups/libertarians/issues/friedman-soc-resp-business.html> [10 October 2011] 4. WiseGEEK (n. d.) What is Bussiness Ethics [online] available from <http://www.wisegeek.com/what-is-business-ethics.htm> [10 October 2011] 5. INVESTOPEDIA (n. d.) Case Study: The collapse of Lehman Brother [online] available from <http://www.investopedia.com/articles/economics/09/lehman-brothers-collapse.asp?&viewed=1&viewed=1#axzz1aauCm0DG> [10 October 2011] 6. Ethics in Bussiness (n. d.) Bussiness Ethics [online] available from <http://www.ethicsinbusiness.net/case-studies/the-social-responsibility-of-business-is-to-increase-its-profits/an-executive-summary/> [10 October 2011] 7. Scribd Inc (n. d.) Scribd: Social Responsibility of Business [online] available from <http://www.scribd.com/doc/24582689/Social-Responsibility-of-Business> [10 October 2011]