Examining Moral Philosophies’ Functions in Business

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The Moral Philosophies’ Functions in Business

Usually the conversation about philosophy in society is centered on the universal structure of values as part of their lives. Conversely moral philosophy relates to certain ideologies or statutes which are used by societies in determining right or wrong. It is imperative to comprehend there is a difference between “moral philosophies” and “business ethics”. The “moral philosophies” pertain to individual’s values, whereas “business ethics” is centered on groups’ decisions or relate to meeting a business objective.
As espoused by Ferrell, et.al, (2013) the moral philosophy is what a person hold as their ethics and beliefs. However, when viewing ethics in the framework of business, ethics are based on what the group considers to be the best or worse approach for the business operation and its objectives. Therefore, it is the responsibility of a company or its managers to create, and instruct, employees on the conformity of ethical in business practices within their organizations.
Managers also should understand that their personal moral philosophies can be influential as a guide to other employee. Moreover, it should be understood that moral philosophies offer standards for controlling how conflicts are settled in reference to people life’s concerns. Additionally moral philosophies influence how corporation devise business strategies and resolve specific ethical issues (Ferrell, et al., 2013, p. 153). With that said it should be noted that not one specific moral philosophy is accepted universally. This fact is proven by viewing how moral philosophies is used to are used to endorse certain economic system and the conduct of people in those systems.
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...., Fraedrich, J. & Ferrell, L. (2013), Business ethics & social responsibility. [OMM640 Custom edition] Mason, OH: Cengage Learning
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Robertson, C. J., & Crittenden, W. F. (2003).Mapping moral philosophies: Strategic implications for multinational firms. Strategic Management Journal, 24(4), 385-392. Retrieved from http://search.proquest.com/docview/225010000?accountid=32521
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