Business Ethics

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1.0 Introduction……………………………………………………………………………………3 2.0 Ethical Perspective of Business……………………………………………………………….2 3.0 Business Objective from an Ethical Perspective…………………………………………..….5 4.0 Ethics in Workplace Relationship………………………………………………………..……8 5.0 Current Ethical Issue in a Business…………………………………………………………....9 6.0 Conclusion………………………………………………………………………………...…11 References…………………………………………………………………………..……………12

1.0 Introduction:
Ethical decision making in an organization is based on the moral judgment about right or wrong is often influenced by its own culture. When the decision is ethical or moral, employees act for the right course of action accordingly. Business ethics or the code of ethics has now days became the part of implementing organizational strategy and it development since it emphases on stopping business malpractices, business survival, protecting employees and its shareholders, better relation with both internal and external customers, HR function, smooth functioning and health competition to competitors. Unethical business behavior will definitely damage organization’s reputation that will have negative impact in the market which in turn will discourage the investors. This kind of consequence will result in low profit. Therefore, the purpose of this report is to emphasize on the ethical issues, perspective, ethics in workplace relationship and objectives of business. 2.0 Ethical Perspective of Business:

2.1 Explain the background and development of theoretical ethical approaches for example, the difference between deontological and teleological ethical theory. Teleological Moral Theory deals with the consequences of any action performed intentionally or unintentionally. It relates to human moral behavior because they mean to achieve the end at any cost i.e. goal directed. For example, if I find ice in my gutter, what should I do to remove that? Now, I can use many strategies like send my servants. Then I prefer not to send because if he injured my wife might be angry on me since she has to work at home. So I decide not to send him on roof top which is moral. But from teleological point of view, it is not what is right or wrong of human behavior. It is the consequence of the action taken. Another example can be stealing food from store for children. Now, food might bring happiness which is right from Deontological point of view. But what happens if he gets caught? He might be fined or get jailed. The motive of this action does not work in this case. Even the motive is right; the end result is not good. Deontological ethics deals with morality, motives and duty in any circumstances. For example, slavery in America was wrong since American Revolution but it was cost- effective for the Americans and contributed to their economy. It deals happy and unhappiness. Even salves were happy to work under slavery but it was immoral. 2.2 Compare and contrast absolute and relative issues

An absolute theory is based on logics and does not consider experience prior to any sort of action. The consequences of any action are irrelevant to what is right or wrong. A person might perform evil action but the end result might be good. Someone might act heroically, does not even know whether the consequences are good or bad. Relative theories deal with situational action that might be right or wrong. A person has to go for any action that might even affect others like abortion of pregnancy. Another example can be like Euthanasia which might lead to happiness for any person and vice-versa for another situation. It refers to right or wrong relative to the situation and this match with the theory of teleological. In another situation, a person might go for an action that leads to happiness because it’s his/her duty by law. In this case, it is the theory of deontological but follows absolute ethical theory there are no exceptions to the rules. 2.3 Give a...
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