Ethics and Governance
With reference to the Oxford English Dictionary (2012), ethics is described as the science of morals. It is also the agency of study with regards to the values of moral obligations of what is right or wrong. It also covers human behaviour. A company makes many decisions in a course of one day. It may include, launching new products, doing Public Relations, making sales, rewriting company policies and the recruitment or retrenchment of people, just to name a few.
All business aims to do so ethically. To conduct business ethically, a business must first commit to adhering to laws and regulation (Timms, 2009). These are clearly defined, as they are in black and white. However, once the definition of what is ethical becomes contested, ethical dilemmas will arise. An ethical dilemma occurs when there is a situation which all alternate choices and behaviours have been deemed undesirable, and that there may be potential ethical consequences when one is unable to identify the right from the wrong.
An example of an ethical dilemma is of follows, where one faces a conflict between his ethical code and his business aims. Cadbury, the chocolate producer, was offered a contract by Queen Victoria to send decorative tins of chocolates to every single one of her soldiers in the Anglo-Boer war in South Africa (Andrews, 1989). However, since he was against the war, which resulted in him deciding to resolve this conflict by completing the order without profit. According to Sir Adrian Cadbury (1987), his grandfather “made no profit out of what he saw as an unjust war. The additional work benefitted his employees, the royal presents consisting of tins of chocolates were sent to the soldiers, and it was a win-win situation.
In a business, there are 3 levels of ethics: the ethics of the governing body, workplace ethics and individual ethics (Trevina & Nelson, 2011). A governing body usually is made up of a board of directors, whose aim in the company is to make good corporate
All business aims to do so ethically. To conduct business ethically, a business must first commit to adhering to laws and regulation (Timms, 2009). These are clearly defined, as they are in black and white. However, once the definition of what is ethical becomes contested, ethical dilemmas will arise. An ethical dilemma occurs when there is a situation which all alternate choices and behaviours have been deemed undesirable, and that there may be potential ethical consequences when one is unable to identify the right from the wrong.
An example of an ethical dilemma is of follows, where one faces a conflict between his ethical code and his business aims. Cadbury, the chocolate producer, was offered a contract by Queen Victoria to send decorative tins of chocolates to every single one of her soldiers in the Anglo-Boer war in South Africa (Andrews, 1989). However, since he was against the war, which resulted in him deciding to resolve this conflict by completing the order without profit. According to Sir Adrian Cadbury (1987), his grandfather “made no profit out of what he saw as an unjust war. The additional work benefitted his employees, the royal presents consisting of tins of chocolates were sent to the soldiers, and it was a win-win situation.
In a business, there are 3 levels of ethics: the ethics of the governing body, workplace ethics and individual ethics (Trevina & Nelson, 2011). A governing body usually is made up of a board of directors, whose aim in the company is to make good corporate