Essays On Ethics In Business

Essays On Ethics In Business-24
Second, a wave of corporate scandals, involving cases of fraud, negligence and immoral marketing methods has increased the attention to companies’ internal affairs, in particular their agents.

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For example, corporate governance standards are closely related to ethics, but the weight of the latter in the spectrum of this field (which also involves financial, legal and other issues) is not always clear, especially when ethical standards collide with other customs.

Thus, it is better to define business ethics through the types of responsibilities it does and does not deal with.

Finally, ethics differ from law by the sense that not everything that is legal is also moral.

For instance, although it is legal for a company to pollute to environment to some extent, many would argue that pollution is inherently immoral and hence unethical.

The company should be prepared to pay costs for instituting and maintaining ethical values in the company. (iii) Ethos: Characteristics of a community or of a culture.

Myth No.4: MIS is amoral: Management information systems (MIS) is neither immoral nor moral. There are violations of privacy and questionable use of data or putting the MIS in wrong perspective. Code of values by which a group or a society lives. (iv) Moral: Concerns regarding principles of right and wrong. (v) Morality: It is the standard that an individual or a group that knows that is good, what is right and which is proper.

Myth No.3: Good business makes good ethics: Ethical means may be or may not be always in the interest of business or better profits.

Whatever the profit or business of a company, CEO of the company has to act ethically.

1 Introduction Dated back to Code of Hammurabi some 4,000 years ago, business ethics is a social science, whose main aim is to define and examine the responsibilities of businesses and their agents as a part of the general moral environment of a given society.

The products of this field of research are sets of rules and codes of conducts, which serve as a means of protection from the possible infringements of moral codes as a result from the general activities and responsibilities of a firm to its stakeholders (e.g.


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