What Is The Importance Of Ethics In Business Ethics

Business ethics are the responsible decision making process that everybody within an organization utilizes when faced with an ethical dilemma concerning the business. When applied to business, it is not just about what laws are set in place or the concepts of virtue and morality that defines right from wrong, but how the decision applies to the business. When deciding what one “should” do, employees must make the time to stop and consciously identify the ethical issues involved, identify the stakeholders, consider the alternatives, consider the outcome, make a decision, then monitor and learn from the outcomes. Ethics are needed within the business (for example, how employees treat each other) and outside the business (such as how the business

Psychological egoism is a universal concept which claims every human action or decision is motivated by each person’s own self interest (what is in the best interest for me). The theory of utilitarianism is the belief that the correct action is the action, which maximizes the greatest good (the greatest good for the greatest number). Deontology ethics states that people are morally obligated to obey rules that require or forbid certain actions regardless of the consequences (either good or bad). Virtue ethics emphasizes that a person should utilize their own moral character to base their choices/actions from instead of basing them off of the external customs and laws of their culture. If a person’s character is good then so should be their choices and their

Risks are inherent to all types of employment. It is the responsibility of the employer to provide their employees with a safe and healthy working environment. It is the employers responsibility to eliminate all possible risks, and for those risks that cannot be engineered out of the process, reduce the risk to the lowest feasible level. It is the responsibility of the employer to identify the risks and communicate these risks and safety precautions to the employee. Employers should ensure employees are equipped with the protective items necessary to safely perform their tasks.

Ethical business respects the interests of it employees and treats their employees with respect. The major interest of an employee is the employee’s family. Therefore employers must treat employees with fairness and honesty when it comes to all matters concerning their family.

Employees have the right to the “reasonable expectation of privacy”. In order to protect both the employer and employee it is imperative that businesses have clear and explicit policies put into place that communicates to all parties when employees do not have an expectation of privacy, such as cell phone and email monitoring. In cases that there is question the best way for an employer to protect himself or herself is to obtain a search warrant. (Public,