Essay on Ethical And Ethical Principles Of Business Ethics

Essay on Ethical And Ethical Principles Of Business Ethics

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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.
However, when in business a person confronted a problem it is necessary that he utilize ethical reasoning. The ethical reasoning requires that the individual evaluate its own moral and ethical views in order to make a decision. This reasoning primarily focuses on two crucial features. The first is known as Duty-Based Ethics, which is concentrated in doing the right thing and behave according to the duties or obligations that are morally and ethically acceptable. It is often related with religious and philosophic criterions which means that they act based in moral worth. On the contrary, the second feature which is named as Outcome-Based Ethics, it is characterized by focusing on the consequences that are caused by a particular action. This type of ethics takes decisions based in having as much as possible amount of people that can be beneficiated while at the same time being aware that this decision will also damage other parties. In other words, it is more concerned in the costs and benefits that will be produced with as an effect of the ...


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...greement and moreover they would obtain the maximum results and there would be only one party injured, the steel company.
Finally, I believe both philosophical theories, Kantian and Utilitarian, are respectable. Despite, my legal rights is that the other part respect the agreement and sell me the steel at a fixed price which is stated clearly in the contract my ethical obligation is to understand the crucial situation that the steel company is facing at that moment and help it. Nevertheless, what I would do is to adopt the Kantians ethical theory since both parties will result beneficiaries because I will obtain the steels and at the same time the other party may recover and will not get into bankruptcy. I choose this decision because I think it is important to consider others with the aim that one day when you face such a problem might be supported by other party.

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