Define and Discuss Philosophies’ Application to Business
Business philosophy refers to application of theoretic framework to determine the manner in which a business entity deals with various forms of operation. It refers to formation and operation of a corporate entity in areas that include management, accounting, public relations, business operations, marketing, and training (Dahlsrud, 2008). Moral philosophy, on the other hand, refers to values that determine the rightness or wrongness of an action (Bartels, 2008). It is not easy to apply ethics and moral philosophies in business practices, particularly in a global competitive environment where the concept of right and wrong varies according to different cultures (Dahlsrud, 2008).
Application of moral philosophy in business occurs in four critical areas. These areas include: foremost, corporate culture- business ethics simply refer to the extent through which an organization has integrated moral philosophies into its global business practices. Corporate culture concerns itself with ways through which a business organization creates a culture of ethical and honest business practices through the creation of a code of conduct that the organization utilizes to shape the behavior of its workforce and leadership. Secondly, discipline- moral philosophy is applicable on a more practical degree in order to determine ways of disciplining employees who exhibit behaviors outside an organizations accepted norms and culture. Third, employee relations- moral philosophy enables a business enterprise to evaluate the continuous relations between employees and the management within the company, both in terms of ethical considerations and in terms of discipline, for instance, employee- manag...
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...ch as flexible working programs. Due to this, Nestle strives to address increasing significant social challenges that include healthcare, environment and education (Piercy, & Lane, 2007).
Bartels, D. M. (2008). Principled moral sentiment and the flexibility of moral judgment and decision making. Cognition, 108(2), 381-417
Dahlsrud, A. (2008). How corporate social responsibility is defined: an analysis of 37 definitions. Corporate social responsibility and environmental management, 15(1), 1-13.
Piercy, N. F., & Lane, N. (2007). Ethical and moral dilemmas associated with strategic relationships between business-to-business buyers and sellers. Journal of Business Ethics, 72(1), 87-102.
Polonsky, M., & Jevons, C. (2009). Global branding and strategic CSR: an overview of three types of complexity. International Marketing Review, 26(3), 327-347.
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