Rose Ann Isidro
Jerome Duque Soriano
ETHICS AND BUSINESS
“There are two educations. One should teach us how to make a living and the other how to live”.-John T. Adams
Business is part of human society and as old as human civilization. It is part of the complex web of interaction among institutions and people; its activities must be viewed and examined from the perspective of morality. Business without ethics threatens the survival of human society. Business is an activity that is part and parcel of human society. The fundamental reason for examining the activities of business from the moral perspective is for the promotion of the common good, protection of the individual’s interests, and the preservation of the human society in general. Without ethics, business will be a chaotic human activity because there will be no common understanding about what is right and wrong conduct.
What is Business?
Businessis a complex activity that involves major activities like production, manufacturing, advertising, selling and the like. Businessmen also deal with suppliers, customers, employees and even competitors. Within this structure of interaction of people that a lot of questionable practices occur – false advertising, misbranding, local price-cutting, misrepresentation and others. Somehow people’s rights are being violated and the interest of the common good is disregarded. Business is a good human activity – it is the wrong motive and personal interests of unprincipled businessmen that make business bad.
The Importance of Ethics in Business
The study of Ethics paves the way for common ground in our understanding of the fundamental idea of what is good and bad in our human conduct.
Without Ethics, people, esp. businessmen will set their own moral standards, rules and principles.
This would result to a