Business Ethics Case Study

2420 Words5 Pages

TABL2712 Ethics Essays
Question 1: “Distinguishing between good and bad corporate conduct within Australia is ultimately very easy”.
Discuss whether or not you agree with this statement. In your answer you need to at least discuss:
i. What you understand the expression “ethical business conduct” means
Ethics and morals are core to ethical business conduct within Australia. Ethics can be defined as society’s expectations of what is right behaviour whereas morals refer to actions that a person considers to be right or wrong. Both ethics and morals can be a product of their environment. This is referred to as differential association, which states that an individual who is exposed to a certain environment in which there is no respect for the law will more likely commit criminal actions. As a result, if individuals affected by this theory of differential association come together in a business, it will more likely result in bad corporate behaviour due to the environments they were brought up in. Personally, I believe ethical business conduct refers to businesses with certain ethics and morals operating in a rightful manner in tough and controversial situations. However, one must not only focus on what ethical conduct the business does externally, for example, the way it treats customers or performs business functions, but also internally within the business, for example, the way individuals treat each other within the firm. ii. The arguments for and against seeking to promote ethical business conduct

Ethical business conducts, whether it be promoting for or against, will ultimately affect the company’s abilities to make profits. In the end, it all comes down to the ability for the company to juggle the two different perspectives o...

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...cally and be of benefit to the community, they will influence their employees to work ethically as well, which increases employee productivity, ultimately helping the business to grow sustainably in the future.
If a company does not deal with unethical business conduct, it may damage a firm’s reputation. For example if a company blatantly disregards the environment and is causing harm to neighbouring communities, individuals in society will see that the company has a lack of corporate social responsibility. As a result, this makes the company less appealing to stakeholders who have an interest in protecting the environment even though the company is making significant profits. This may ultimately lead to a decrease in profits for the company, and as profits decrease it may eventually collapse which may affect the employees as they are unable to retain their jobs.

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Business Ethics Case Study