Final Business Ethics

Topics: Ethics, Business ethics, Morality Pages: 19 (6317 words) Published: July 27, 2015
Essex International College

UNIT 45: BUSINESS ETHICS
(M/601/07961024)

A REPORT ON BUSINESS ETHICS OF ANGLO AMERICAN

Submitted by:
PURNA BARNI THAPA
ID: W0105570912

Submitted to:
RAMJI POUDEL

APRIL 2014

Table of Contents
TASK 13
UNDERSTANDING DIFFERENT ETHICAL PERSPECTIVES IN BUSINESS3
A. Explain the background and development of theoretical ethical approaches in Business3 B. compare and contrast absolute and relative ethics in relation to Anglo American5 C. Explain the ethical issues which can affect the operational activities of a company such as Anglo American6 TASK 28

UNDERSTAND BUSINESS OBJECTIVES FROM AN ETHICAL PERSPECTIVE8 A. Explain how business objectives of Anglo American are affected by ethical considerations8 B. Evaluate the implications to Anglo American and its stakeholders to operate ethically10 TASK 311

UNDERSTAND ETHICS IN WORKPLACE RELATIONSHIPS11
A. Assess the role of Anglo American acting as a moral agent in its mining projects.12 B. Analyse the development of mechanisms for achieving employee involvement and empowerment, how well does Anglo American operate ethically?13 TASK 416

BE ABLE TO ASSESS A CURRENT ETHICAL ISSUE IN A BUSINESS16
A. Research a current ethical issue affecting a selected business.16 B. Report on how the business could improve ethics of their operations whilst meeting objectives and ensuring good employer/employee relationships.18 C. Design a suitable ethical code for Anglo American.19

REFERENCE21

TASK 1
UNDERSTANDING DIFFERENT ETHICAL PERSPECTIVES IN BUSINESS

A. Explain the background and development of theoretical ethical approaches in Business Business ethics comprises the principles and standards that guide behaviour in the world of business. Investors, employees, customers, interest groups, the legal system and the community often determine whether a specific action is right or wrong, ethical or unethical (Ferrell and Fraedrich, 2009). It is very important to understand that although these groups are not necessarily right; their judgements influence society’s acceptance or rejection of a business and its activities. Ethical theories are required to systematize ordinary moral judgements and establish and defend basic moral principles. It is clear that new practices are coming to light in business constantly; hence a rational and consistent ethical theory will become necessary to evaluate the morality of actions. The background and the development of various ethical approaches in business are discussed with the help of below five theories of ethics. 1) Egoism: Ethical egoism is the moral view that everyone ought always to do those acts that will best serve his or her own best self-interest (Pojman & Fieser, 2011). That is morally right actions are those that maximize the best interest of one, even when it conflicts with the interests of others.

2) Utilitarianism: The principle of Utilitarianism suggests that the rightness or fairness of an action can be determined best by looking at its results or consequences (Carroll, & Buchholtz, 2011). If the consequences are good, the action or decision is considered good and vice versa.

3) Deontology: Deontologists are those who believe that ethics is about duties and about the intentions with which you do them, so it is a theory of duty and necessity (Jones et al, 2005). It is a moral principle that focuses on the rights of individuals and the intentions associated with a particular behaviour rather than its consequences.

4) Care Ethics: The ethics of care stems from the sense of moral responsibility that we feel about towards family, relations, friends etc. and manifests in relationships, trust, teamwork and dependence in our dealings and living in society (Mandal, 2010). Most importantly it is concerned with caring for someone or not bring concerned or caring for the self.

5) Virtue Ethics: It posits that what is moral in a...
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