Business Ethics and the Role of the Corporation
Business ethics is a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations (Free Encyclopedia). The term business ethics is used in many ways, and the history of business ethics has varied based on how a person or company conceives of the objects under discussion. In a wide sense ethics in business is just the actions or applications of everyday ethical or moral norms and or decisions in business. Construed broadly as moral reflection on commerce, business ethics is probably as old as trade itself. If law, is a rough guide to widely-held moral intuitions (Goodin, R.1985).
Ethics interest a person’s moral judgment on what’s right or what’s wrong. Resolution made within a company may be decided by an individual or a group of people, but whoever makes the decision will be impacted by the culture of the company. The thought to act ethically is a moral one; workers must choose what they think is the right course of action. This includes not taking the path that would lead to the largest and quickest short term profit.
Corporate social responsibility and ethical behavior can bring important benefits to an organization. For examples, it would generate more customers, increase in product sale or distribution and profit. Also, least turnover from workers and increase productivity, a good way to attract investors, keep shares up and generate more people wanting to work for the company. An absence of corporate social responsibility or unethical action may harm a company’s reputation and this will drive away stakeholders and could suffer a loss in profits.
Do you agree or disagree with Carr’s promise?
Albert Carr, the thinker of the 20th century, believed that ethics in business doesn’t need to pertain; they are only private matters. Carr’s thinks that business ethics is like a poker game, the outcome is to win within the structure of the laws or rules. The business world might contain a set of rules for participants to follow, but those have nothing to do with the morals of private life (Jennings, M 2012). When it comes to Carr’s promise I agree to disagree with him. I believe in some of his points to ethics in the business world and I disagree with most of his points dealing with ethics in the business world.
To poses a competitive edge, one must generate an advantage over their competitors. In today’s truculent business world, every edge counts to institute their business in the top of their industry. Gaining an advantage over the competition is a great way of competitiveness thinking and strategy in the business world and most other endeavors in life. However, you want to stay in compliance and or ethical when doing it, such as, stay up dated with the latest technology, trends, practices and customers wants. You want to out think and out hustle your competition, that’s the way to stay ahead or on top of the game. With this in mind I understand Carr’s poker analogy with business ethics. In poker your job is to win by any means necessary, which sometime constitute bluffing. In business it’s the same strategy win or use your poker face to bluff. In business your poker face can be seen as analyzing your target market and identify your competition, learn from your competition and your customers, stay on the cutting edge, use business resources and create an economic moat.
On the flip side of Carr’s promise, with the poker analogy, it can be seen as unethical and dishonest schemes or practices. See with most poker face business ethics you get people or companies that are dishonest, distrustful, deceitful, and conceal strategies and strengths, which they...
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