Chapter 7

Topics: Ethics, Morality, Business ethics Pages: 4 (2072 words) Published: October 7, 2014
Business Ethics Fundamental
The public view on business ethics has never been high. Many citizens see business ethics as essentially a contradiction in terms, an oxymoron, and think that there is only a fine line between a business executive and a crook. Public opinion may be reported at 2 levels. At a broad level is the general perception of business ethics by the public and at a narrower level are specific perceptions as to what is going on inside the organization. There is no doubt that the media are reporting ethical problems more frequently and fervently. 60 minutes, 20/20, etc. are keeping business ethics in the public eye and make it difficult to assess whether public opinion polls are reflecting the actual business ethics of the day or simply the reactions to the latest scandals covered on a weekly basis. People in business have not suddenly become immoral. What has changed are the contexts in which corporate decisions are made, the demands that are being made on business. and the nature of what is considered proper corporate conduct. Ethics is the discipline that deals with moral duty and obligation, can also be regarded as a set of moral principles or values. Morality is a doctrine or system of moral conduct, refers to principles of right, wrong, and fairness in behavior. Business ethics is concerned with morality and fairness in behavior, actions, policies, and practices that take place within a business context. Descriptive ethics vs. Normative ethics

Descriptive ethics is concerned with describing, characterizing, and studying the morality of people, an organization, a culture, or a society. Compares and contrasts different moral codes, systems, practices, beliefs, and values. The focus is on learning what IS occurring in the realm of behavior, actions, decisions, policies, and practices of business firms, managers, or specific industries. Focuses on WHAT IS the prevailing set of ethical standards and practices in the business community, in...
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