1. What is the distinction between ethics and morality? Discuss the different meanings of the word “ethics,” and include examples that elucidate the distinctions between these definitions. Please include examples from your world of work or current local or world-wide events.
Our book provides two meanings to “ethics”. The first is “the principle of conduct governing an individual or a group” and the second definition provided is “the study of morality”. The book defines morality as “the standards that an individual or group has about what is right and wrong, or good and evil” (The Nature of Business Ethics, pg. 8). I, however, define ethics as the values used to help a person or a group decide what is right and wrong and these values …show more content…
These regulations are passed down by the US State Department (ITAR) and the US Commerce Department (EAR) and violation of these regulations can lead to extensive fines (in 2010, BAE was ordered to pay over $400 million dollars to the US State Department for ITAR violations) (BAE), jail time (a retired University of Tennessee professor was sentenced to 5 years in prison for violating the EAR) (Retired) and disbarment—which the US State Department and/or the US Commerce Department will prevent the organization from building, shipping and receiving military products—forcing the company into bankruptcy and job loss. As the world becomes smaller and international trade becomes bigger, maintaining a strong ethical business acumen will not only protect the organization’s reputation, it will also protect each US service member’s …show more content…
In order for a company to be successful, the company “must pay special attention to product safety, environmental impact, truthful advertising, scrupulous marketing, and humane working conditions” (Fieser). A good example would be the Vandivier case we studied earlier this week. BF Goodrich purposely “low-bid” their quote to obtain the contract with the US Air Force and then encouraged their employees to falsify reports to show the brakes they were to supply were safe. This case study portrays a company enriched in the culture of dishonesty and what society deems as morally right and
Our book provides two meanings to “ethics”. The first is “the principle of conduct governing an individual or a group” and the second definition provided is “the study of morality”. The book defines morality as “the standards that an individual or group has about what is right and wrong, or good and evil” (The Nature of Business Ethics, pg. 8). I, however, define ethics as the values used to help a person or a group decide what is right and wrong and these values …show more content…
These regulations are passed down by the US State Department (ITAR) and the US Commerce Department (EAR) and violation of these regulations can lead to extensive fines (in 2010, BAE was ordered to pay over $400 million dollars to the US State Department for ITAR violations) (BAE), jail time (a retired University of Tennessee professor was sentenced to 5 years in prison for violating the EAR) (Retired) and disbarment—which the US State Department and/or the US Commerce Department will prevent the organization from building, shipping and receiving military products—forcing the company into bankruptcy and job loss. As the world becomes smaller and international trade becomes bigger, maintaining a strong ethical business acumen will not only protect the organization’s reputation, it will also protect each US service member’s …show more content…
In order for a company to be successful, the company “must pay special attention to product safety, environmental impact, truthful advertising, scrupulous marketing, and humane working conditions” (Fieser). A good example would be the Vandivier case we studied earlier this week. BF Goodrich purposely “low-bid” their quote to obtain the contract with the US Air Force and then encouraged their employees to falsify reports to show the brakes they were to supply were safe. This case study portrays a company enriched in the culture of dishonesty and what society deems as morally right and