Question 1: What is the moral point of view and why is it important? Does it make sense to say that business people must operate from the perspective of the moral point of view? Why, or why not?
Answer: Business ethics refers to the study of proper business policies and practices, with regards to the potential controversial issues such as corporate governance, discrimination, bribery among others (Madsen & Shafritz 1990). Business ethics are often guided by law and at times they provide a basic framework that businesses can choose to follow in a bid to acquire public acceptance. They are implemented so as to ensure that a particular required level of trust is in existence between consumers and the different types of market participants with the business entities. For instance, a portfolio manager has an obligation to give a similar consideration to the portfolios of family members and small individual investors. Such acts ensure public equality. A moral point of view refers to approaching a problem or issue from the perspective of its being morally wrong or right or rather, morally excellent. As opposed to the Economic or Legal point of view, the moral point of view comprises of two main features. The first, is the commitment or willingness to search for reasons and act on them. The best action is that which is supported by the best possible reasons, as opposed to acting upon emotion, some already existing morality or without deliberation. The second feature is commitment to impartiality. This involves putting into consideration the interests of all in equal measure, rather than being self-interested. It is essential for business people to operate from the perspective of a moral viewpoint since, by so doing, they will be able to serve their customers well because it involves being careful about their interests. It is, therefore, sensible to state that business people must...
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