Business Ethics And Social Responsibility Essay
Ethics and Morals
In most countries, integrity, loyalty, and honesty are examples of moral behaviors. On the other hand, lying, injuring someone, and …show more content…
Applying ethical behaviors and moral beliefs into the business environment is known as business ethics. Recently, in the business world, ethics have been a topic that is acquiring a lot of attention (Lewis, 1985). Furthermore, when a company maintains high standards of ethics, everyone within the company will benefit. Ethical ideas may vary from a company to another. Managers’ ethics and how they are influenced by their morals plays a big role in the company’s decisions.
Ethical Relativism Ethical norms and beliefs of one individual within a society may differ from another and that is called ethical relativism. What is referred to as moral in one society, may be unethical to another culture. Therefore, there are no worldwide standards of ethics (Scu.edu, 2015). The concept of ethical relativism proves that morals and ethics are derived from one’s culture and society. When a company decides to expand from locally to globally most likely it will face ethical relativism. Corporations that enter the global market will face ethical environments that are different from other countries (Bowie, 2001).
Ethical …show more content…
A conflict of interest occurs when an individual’s opinions, and interests conflicts with another individual in the workplace (Heathfield, 2015). For example, a former Citigroup vice president Gary Foster got arrested in June because of his act of embezzlement. Foster was guilty of fraud (The Huffington Post, 2015). Gary acted in an extremely unethical way and put his self-interests above all others. Conflict of interests can exist between organizations and individuals. All the issues caused by an ethical egoist, or conflicts of interests, or any unethical behavior will ruin the corporation’s reputation. Imposing ethical rules within a company will help its employees act in a moral way. Mastering a management is as important as making the right ethical decision that may affect the company in the future. The society’s attitude toward a company is influenced by the corporation’s values, beliefs, and ethics that guide the company’s career path. Maintaining a perfect reputation and public image requires acting in a responsible way toward the company and the society in