Business Ethics and Social Responsibility

1208 Words3 Pages
bulb-icon

Recommended: what does it mean by ethics

What is Ethics?

 As provided by “Business Management: A Contemporary Compilation” by (Nieuwenhuizen, Drotskie & Oosthuizen 2014), ethics can be defined as moral principles that govern or influence a person’s behaviour.

 As provided by “Business Management: A Contemporary Compilation” by (Nieuwenhuizen et al.2014), business ethics can be defined as written or unwritten codes of principles or values that govern decisions and actions within an organisation.

 According to Wikipedia.org, ethics are defined as moral principles that govern a person's behaviour or the conducting of an activity.

 Therefore from this, we can deduce that ethics play an important role in the workplace as these principles determine the manner in which tasks are conducted by individuals, the moral standing of an individual and how these things affect the way in which an entity will operate.

Types of ethics, namely 3 :

 Descriptive ethics: This a description of people’s behaviour and/or the moral standards they claim to follow.

 Normative ethics: Creating or evaluating moral standards. It is therefore an attempt to figure out what people should do or whether current moral behaviour is reasonable. (Nieuwenhuizen et al.2014)

 Analytical ethics: The study of assumptions people make under normative ethics. (Nieuwenhuizen et al.2014)

The main characteristics of a business’s ethics are:

 Ethical decisions will differ with each person as different people will perceive ethical issues differently.

 Ethical decisions are not limited to individuals, affecting a wide range of situations

 Most ethical issues involve a trade-off between cost a business will incur and benefits it will receive

 The results of most ethical/unethical decisions are usually not clear

 It is noted that ethical decisions are involuntary human actions

What is our ethics/the ethics of an organisation based on?

 Generic Inheritance: Individuals are passed down traditions as they grow older, therefore making an individual’s background a great influence on their ethical behaviour

 Religion: What a person believes in has an impact on his/her ethical behaviour

 Philosophical systems: The way people perceive things, life and it’s purpose is the core of their philosophical system and whichever system one is exposed to influences one’s ethical behaviour

 Cultural experience: The experience a person has when dealing with a different culture in society influences their norms and ethics.

 The legal system: laws are the embodiement of a society’s ethical standards and therefore, the types of laws people are exposed to influences their norms and ethics as individuals

Show More
Related

  • Quiz Show by Robert Redford

    1538 Words  | 4 Pages

    Ethics are the principles that shape individual lives in modern society. It is a subjective idea that seems to have a standard in society. Ethics and morals are the major factors that guide individuals to make right and wrong choices. Something that is morally right to one person might be the very opposite of what another person would view as right. There are many factors that can trigger a change in an individual’s view of morality.

    Read More

  • Four Ethical Profiles Of An Ethics Awareness Inventory

    1058 Words  | 3 Pages

    Our ethics and values are shaped from events and decisions dating back as far as we can remember, and in some cases even further back to times we cannot remember. Our heritage and cultural backgrounds can also play a large part in how our ethics are formed. As a society each individual fits into one of the four ethical profiles, and in many cases more than one of the profiles, what can make an individual extraordinary is the ability to learn from others that don’t share their own ethical beliefs and benefit from that shared knowledge to make themselves a better all-around individual. As the saying goes, no one is perfect, but the pursuit of perfection can be quite an experience for those that accept that challenge. Moral and ethical dilemmas will continue to arise in our lives from this moment until the moment we depart this plane of existence, it is what we do with those moments that set us apart from

    Read More

  • Lack of Ethical Behavior in the Cases of Bernie Madoff and Enron

    669 Words  | 2 Pages

    Ethical behavior is behavior that a person considers appropriate. A person’s moral principles are shaped from birth, and developed over time throughout the person’s life. There are many factors that can influence what a person believes is right, or what is wrong. Some factors are a person’s family, religious beliefs, culture, and experiences. In business, it is of great importance for an employee to understand how to act ethically to prevent a company from being sued, and receiving criticism from the public while bringing in profits for the company.

    Read More

  • Difference Between Unethical And Unlawful Behaviour In The Business Context

    1018 Words  | 3 Pages

    By definition, ethics refers to "a set of principles of right conduct." It is also defined as "the rules or standards governing the conduct of a person or the members of a profession," (www.thefreedictionary.com) and in business may be considered the standards governing the conduct of people in the business environment. Business ethics is the behavior that a business adheres to in its daily dealings with the world. It relies on values as a way of guiding behaviour in business.

    Read More

  • Philosophy: Ethics and Morality

    2484 Words  | 5 Pages

    The term “ethics” discusses how one’s morality needs to take acknowledge that of the rest of the members of the group or community t...

    Read More

  • Utilitarianism, Kant's Deontological Ethics, And Virtue Ethics

    1027 Words  | 3 Pages

    Ethics in business is a highly important concept, as it can affect a company’s profits, salaries paid to employees and CEOs, and public opinion, among many other aspects of a business. Ethics can be enforced by company policies and guidelines, set a precedent when a company is faced with an important decision, and are also evolving thanks to new technology and situations that arise due to technology usage. Businesses have a duty to maintain their ethical responsibilities and also to help their employees enforce these responsibilities in and out of the workplace. However, ethics and the foundation for them are not always black and white. There are many different ethical theories, however Utilitarianism, Kant’s Deontological ethics, and Virtue ethics are three of the most well known theories in existence. Each theory is distinct in that it has a different quality used to determine ethicality and allows for a person to choose which system of ethics works best with both the situation and his or her personal ethical preferences.

    Read More

  • Managerial Ethics

    1607 Words  | 4 Pages

    [1] Ethics is defined as “the code of moral principles and values that governs the behaviour of a person or a group with respect to what is right or wrong” (Samson and Daft, 2005, p.158)

    Read More

  • Ethics And Ethical Systems

    1378 Words  | 3 Pages

    First, arranging moral precepts into ethical systems facilitates understanding of well-defined values, norms, and beliefs adopted by a group. In turn, groups express these beliefs by codifying them through rules, laws, and codes of conduct intended to influence decision-making, especially when a poor decision would lead to corruption, and loss of professional trust. More importantly, ethical systems provide moral justification for activities that appear to defy innate human instincts. Lastly, ethics provide insight into the cause and effect of a potential action or decision, allowing the group to determine what is right (ethical, effective, and efficient) within an established framework. All of these ethical characteristics are important to understand because they can compel an individual or group to act contrary to a universal human

    Read More

  • Case Study Of Coca Cola Code Of Ethics

    711 Words  | 2 Pages

    Ethic, how we define them? We can describe ethics as a set of moral principles or values. Laws and set of legal regulations, religious guidelines also the ethical codes for professional and industry groups are the examples of the values and moral principles that are implemented into our lives.

    Read More

  • Ethics In The Workplace

    1936 Words  | 4 Pages

    Ethics in the Workplace "Ethics are personal and, at the same time, a very public display of your attitudes and beliefs. It is because of ethical beliefs that we humans may act differently in different situations" (University of Phoenix, 2007). Poor ethical choices in the workplace can truly hurt people. Poor ethics can damage their career, happiness, and quality of life. Not only can these actions hurt the individual who has made the bad choices, but also most often it hurts the innocent.

    Read More

  • The Characteristics Of Moral And Ethical Reasoning In Business Ethics

    1085 Words  | 3 Pages

    In the business world there are many fundamental aspects and situations that can lead to several issues. In order to find an optimal and professional solution, business decision makers need to apply moral and ethical standards. And it is at that moment in which business ethics perform its role. Business ethics, which is in charge of examine how companies and individuals should act in business situations, is very essential in order to reach a common agreement and to work within the laws of business and solve an arisen dilemma. Working of the hand of ethical business companies, employees, investors, directors, and even individual officers can be beneficiated and obtain most favorable outcomes.

    Read More

  • Perspectives on Ethics in Business and the Importance of Leadership in Business

    2591 Words  | 6 Pages

    For a business to be effective and running, ethics and values are important factors. Both of these factors work in correlation with one another and they are central to any organization. We then define ethics as moral principles that govern a person’s behaviour. This can be identified on how stakeholders (consumers, customers and shareholders) behave in the organisational environment. Edward Westermarck (Lee and John 1986 37-38) agrees in saying that ‘ethics are concerned with doing good or the right thing in a given human situation’. In the business context, ethics has to do with the extent to which a person's behaviour measures up to such standards as the law, organizational policies, professional and trade association codes, popular expectations regarding fairness and what is right, plus one's own take on moral standards (Sauser, 2005: internet).

    Read More

  • Ethical Issues in Business

    1834 Words  | 4 Pages

    The textbook defines business ethics as “the accepted principles of right or wrong governing the conduct of business people.” Business ethics also govern the members of a profession and the actions of an organization. Many organizations put into place an ethical strategy which is “a course of action that does not violate accepted principles.” These principles are used to guide organizations and employees to make the right decisions.

    Read More

  • The Importance of Ethics in Society

    874 Words  | 2 Pages

    Ethics are moral principles or values that govern the conduct of an individual or a group.It is not a burden to bear, but a prudent and effective guide which furthers life and success. Ethics are important not only in business but in academics and society as well because it is an essential part of the foundation on which a civilized society is built.

    Read More

  • Ethics in the Modern World

    1524 Words  | 4 Pages

    Ethics is a system of moral principles and a branch of philosophy which defines what is acceptable for both individuals and society. It is a philosophy that covers a whole range of things that have an importance in everyday situations. Ethics are vital in everyones lives, it includes human values, and how to have a good life, our rights and responsibilities, moral decisions what is right and wrong, good and bad. Moral principles affect how people make decisions and lead their lives (BBC, 2013). There are many different beliefs about were ethics come from. These consist of; God and Religion, human conscience, the example of good human beings and a huge desire for the best for people in each unique situation, and political power (BBC, 2013).

    Read More

More about Business Ethics and Social Responsibility

Open Document