Business Ethics

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Ethics and Social Responsibility

First Discussion Forum

1. "Ethics has no place in business." Discuss this statement.

Frequently many people pronounce the said “business is business”, showing a slight taste of immorality, where business are purely economic and ethics has no place in business, but is very important to know that ethics is essential component of a company. Ethics demand that the most important consideration is the people. Unethical act has a high risk. Every business leader should know that corporate reputation and building trust are closely related to honesty, transparency service quality and corporate responsibility.

2. Define the following concepts: moral standards, non-moral standards, ethics, business ethics, globalization, diffusion of responsibility and moral reasoning.

* Moral Standards: The norms about the kinds of actions believed to be morally right and wrong as well as the values placed on what we believe to be morally good and morally bad. * Nonmoral Standards: The standards by which we judge what is good or bad and right or wrong in a nonmoral way. * Ethics: The discipline that examines one’s moral standards or the moral standards of a society to evaluate their reasonableness and their implications for one’s life. * Business ethics: A specialized study of moral right and wrong that concentrate on moral standards as they apply to business institutions, organizations and behavior. * Business ethics: A specialized study of moral right and wrong that concentrate on moral standards as they apply to business institutions, organizations and behavior. * Globalization: The worldwide process by which economic and social systems of nations have become connected facilitating between them the flow of goods, money, culture, and people. * Diffusion of responsibility: In simple words, as are most people, unless they commit. A larger group of people watching a fact will be less commitment to help, but there...
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