Essay about Three Major Ethical Principles Impacting Business Ethics

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In a society with a diverse value system and increased judgment publicly by groups with varying values and interests, there seems to be more demands on business people to make stronger ethical decisions. According to McShane and Von Glinow (2010), “ethics refers to the study of moral principles or values that determine whether actions are right or wrong and outcomes are good or bad” (p. 15). In our day-to-day activities, we rely on our ethical values to guide us in the right direction and do the right things. The foundation of any successful and sustained organization is they share a common ethical theme focusing on providing and creating value along with sharing their corporate values with the people they interact with on a daily …show more content…
In addition, the behavioral goal may be ethical; however, the means to achieving the goal can sometimes be unethical.
2. Individual rights – This principle is about entitlement and portrays a sense that people feel at liberty to act in a certain way and have diversified freedom. According to McShane and Von Glinow (2010), some of the common rights include “freedom of movement, physical security, freedom of speech, fair trial, and freedom from torture” (p. 53). Although there is freedom with individual rights, it still creates a problem since some individual’s rights may conflict with others, such as a stakeholder versus an executive’s rights.
3. Distributive justice – This principle suggests similarity such that people who are similar to each other should receive similar benefits and burdens and vice versa for dissimilarity. The biggest challenge with distributive justice is coming to an agreement on the similarities and the relevancy of the factors contributing to the issue.
Given that people spend a noteworthy amount of time at work, ensuring ethical principles are critical components of the environment make it a place more pleasurable, attractive, and conducive to personal and professional growth. The atmosphere in which we work has a direct impact on our health and contentment, so a chaotic and inharmonious workplace that does not implement any ethical

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