Derived from the Greek word “Ethos” which means “way of living”, ethics are an integral part of an individual’s value system. It is how an individual leads his or her life in accordance to what is accepted by society in general. According to J L Mackie, “A moral or ethical statement may assert that some particular action is right or wrong; or that some actions of certain kinds are so; it may offer a distinction between good and bad characters or dispositions; or it may propound some principle from which more detailed judgments of these sorts might be inferred "
(Arria, D. (1999), Ethics & Entrepreneurs., Time 24th May, pp. 70)
In a business world where we are often faced with what is known as an “ethical dilemma”, it becomes important to be able to clearly differentiate between good and bad, effectively and fast. For this very purpose, we have learnt from others experiences, through cases and movies the Ethics of Business which for better understanding have been divided under the following heads:
• Personal Ethical Values
• Role as an Economic Agent
• Responsibilities as an Organizational Leader
• Cooperative Capitalism
I have made an endeavor to summaries my learning in Business Ethics under these very heads. As an example from a real life organization I have chosen the Nike group as my case example.
(Cullen, D., (1999), The Value of Values., Fleet Owner, November.)
As a company, Nike has been the dominant presence in the athletic apparel industry globally. Although they were not the only company known to practice unethical manufacturing processes, they were the major target of criticism because of their leadership role. To fight back against the negative publicity, Nike changed many working conditions and practices, arranged for independent audits by very reputable individuals in the industry to rate these improvements and grade the working conditions, they created a corporate... [continues]
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