Business Ethics Essay

1498 Words May 25th, 2016 6 Pages
Business Ethics

How to behave towards oneself and toward other individuals is a matter of making choices: whether to be friendly or unfriendly, whether to tell the truth or lie, whether to be generous or greedy, whether to study in order to pass an exam or to spend valuable study time watching television and cheat to pass it. These, and all other questions about how people act towards themselves and one another are dealt with in a field of study called ethics.

Another name for ethics is morality. Because both words suggest customary ways of behavior, they are somewhat misleading. It has to do with what should or should not be done. Divide practical wisdom into two parts: moral philosophy and political philosophy. They are
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Unfair and unscrupulous actions hinder the development of harmonious relationships between

co-workers and supervisors. A person who cannot be trusted to do the right thing fails to win the respect of others. It should be recognized, however, that ethical dilemmas are faced by people at all levels within an organization.

Various firms have experienced breaches of ethics. Respected business firms suffer damage to their reputation when questions concerning ethical behavior arise. This is one of the reasons formal codes of ethics, developed by many business organizations and trade associations, are popular today. A recent survey found that 94% of the fortune 500 service and industrial companies have a written code of ethics(American Marketing Association). Companies and trade associations expect their members to abide by such rules as a condition of their engaging in the profession.

There are at least two noteworthy limitations to codes of ethics. First, the written rules are sometimes so vague and general they prove to be of little value. Secondly, codes of ethics are neither a complete, nor a completely reliable guide to ones' moral obligations. It is impossible for the drafters of such codes to anticipate all the moral dilemmas which may be encountered, and impossible for them to draft rules to govern all behavior. Nothing wins support

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