Business Ethics and Its Effects and Main Business Ethics Theories
Business Management 1
(BEC121E)
Assignment 1
Business Ethics
For
Juliet Puchert
By:
Mr. KUDZAI MACDONALD MANDIZVIDZA
201105404
Tut Group:
W10
Contents INTRODUCTION 3 Business ethics concept 3 IMPORTANCE OF BUSINESS ETHICS 4 Reputation 4usiness ethics Investors’ confidence 4 Financial performance 5 Consumers 5 ETHICAL ISSUES 5 The community 5 Employees 5 Customers 6 Suppliers 6 Managers 7 BASIC BUSINESS ETHICS THEORIES 7 Stockholders’ theory 7 Stakeholder’s theory 7 The Social contract theory. 8 Utilitarian model 9 Moral rights model 9 Conclusion 10 REFERENCE 11
INTRODUCTION
Business ethics concept
Business ethics are defined as, “moral principles concerning acceptable and unacceptable behaviour by business people” (Friedman, 2007:111). Thus the main concern is inclined on what an individual regard to be right or wrong regardless of what the law say should be done. In other words that’s what organisational stakeholders expect of each other when performing their obligations that way ethics become part of these obligations. Therefore business ethics are also rights and duties between an organisation and its employees, suppliers, customers, its neighbours which involve trust integrity and truthfulness.
These business ethics can be measured but this is done on a perspective basis for these are only personal considerations on what is regarded to be right or wrong. Basically there are for main perspectives in which business ethics can be measured. Thus society legal organisational and individual perspectives.
There are societal perspectives, according to Hellriegel, Jackson, Slocum, Staude, Amos, Klopper, Louw & Oosthuizen (2004:114), thus the view from the society in which the behaviour occurs. The media expose and report on their behaviours which is then judged by the by the stake holders around them and the judgement is done on the perspective of the stakeholders. This way it makes it a task to the
(BEC121E)
Assignment 1
Business Ethics
For
Juliet Puchert
By:
Mr. KUDZAI MACDONALD MANDIZVIDZA
201105404
Tut Group:
W10
Contents INTRODUCTION 3 Business ethics concept 3 IMPORTANCE OF BUSINESS ETHICS 4 Reputation 4usiness ethics Investors’ confidence 4 Financial performance 5 Consumers 5 ETHICAL ISSUES 5 The community 5 Employees 5 Customers 6 Suppliers 6 Managers 7 BASIC BUSINESS ETHICS THEORIES 7 Stockholders’ theory 7 Stakeholder’s theory 7 The Social contract theory. 8 Utilitarian model 9 Moral rights model 9 Conclusion 10 REFERENCE 11
INTRODUCTION
Business ethics concept
Business ethics are defined as, “moral principles concerning acceptable and unacceptable behaviour by business people” (Friedman, 2007:111). Thus the main concern is inclined on what an individual regard to be right or wrong regardless of what the law say should be done. In other words that’s what organisational stakeholders expect of each other when performing their obligations that way ethics become part of these obligations. Therefore business ethics are also rights and duties between an organisation and its employees, suppliers, customers, its neighbours which involve trust integrity and truthfulness.
These business ethics can be measured but this is done on a perspective basis for these are only personal considerations on what is regarded to be right or wrong. Basically there are for main perspectives in which business ethics can be measured. Thus society legal organisational and individual perspectives.
There are societal perspectives, according to Hellriegel, Jackson, Slocum, Staude, Amos, Klopper, Louw & Oosthuizen (2004:114), thus the view from the society in which the behaviour occurs. The media expose and report on their behaviours which is then judged by the by the stake holders around them and the judgement is done on the perspective of the stakeholders. This way it makes it a task to the