According to Ahner (2007), business ethics is described as the set of behaviors that a business observes while conducting its operations. Business ethics and morality consider how a business interacts with its clients. The two virtues influence companies, other business entities, government organs, and other organizations. Although a considerable overlap exists amidst business ethics and law, both terms are contradictory. Business law is described as institutionalization or codification of business ethics into precise societal rules, regulations as well as interdictions (Jeurissen & Rijst, 2007), Conversely, business laws can be defined as the least tolerable standards of behavior. In contrary, morality considers norms, values, and beliefs entrenched in the societal procedures used to identify the right or wrong deeds. There are arguments that business ethics involves the study of morality and making use of reasoning to clarify certain rules and principles that identify the integrity of any business (Mandal, 2010). In this research paper, how business ethics and morality intersect with life is discussed with respect to already established works.
Business ethics and morality intersect life – Major Arguments
Business ethics and morality are very controversial, and debates/dilemmas surrounding them have attracted critical arguments within the business community. Different groups, institutions and consumers progressively demand firms to look out for more ethically and morally sound ways of conducting their businesses. In addition, the media has also been at the forefront in spotlighting corporations and organizations that seem to abuse ethics and moral obligations in the society. Businesses also appear to be embracing the fact that ethics and morals are very important for their businesses. This indicates that moral and ethical issues challenge business organizations in whichever line of business they opt to involve themselves. Therefore, there are several reasons that make business ethics and morality to be very important in life, not only for students but also managers seeking to enhance their management skills (Ahner 2007). This demonstrates how business ethics and morality intersect life. This is a critical provision in the business context.
The supremacy and effect of businesses and corporations is great in the present society than ever before. There are evidences that suggest that some members of the public are against this kind of advancement. Business ethics, as a subject, helps in the analysis of this situation. Businesses and corporations has an enormous potential of making a contribution to the society, in relation to creating the goods and services required, offering employment opportunities, paying taxes, and spearheading economic growth of a country amongst many others. How, or actually to what extent, this contribution is made nurtures substantial ethical subjects that gets to the focus of the social role in commerce in the modern society. Business abuses to the ethical and moral obligations have the capacity to inflict great harm to individuals, societies and on the environment. Thus, if businesses embrace good business ethics and morals, the general life conditions of people in the society will be improved. Business ethics is very useful in understanding the benefits as well as challenges that businesses experience in different ways by which they conduct their businesses. In addition, ethics and morals help in assessing the value of services offered by a business to people, while trying to improve their overall life status.
When legitimate moral values, regulations, and obligations are exposed to ethical examination, their association to fundamental human interests, irrespective of their cultural backgrounds, is very significant. Moral standards may vary, and moral perception seeks whether the actions that are conventionally and precisely legitimated by conviction, law or legislations are certainly worthy of recognition. Essentially, the advancement of ethics in the earlier century has been described by a propensity to revalue and conquest the moral agreements that have steered the relations between sexes, people and animals as well as people and their surroundings. A more current duty of ethics is to repel those predispositions of globalization, marketization and advancements in technology that corrode both biodiversity and respected features of cultural identity-and could even have impacts that lurk human rights. Even though tendencies are most cases accessible as value-neutral, they contain concealed expectations that are impending sources of unfairness and abuse (Brenkert & Beauchamp, 2010). Such arguments indicate how business ethics and morality intersect life. This is a fundamental provision when considered critically.
In trying to recognize which traditional and inventive practices are commendable, a moral and ethical argument enquires whether, and how, definite moral issues further the welfare of individuals in the society. Moral thinking and ethics are always linked to the fundamental interests of people and other perceptive beings and to the significance of the environment that endures both social and non-social life (Mandal, 2010). It also helps in understanding how these values as well as interests may be vulnerable or challenged and how they may be promoted or protected. Environment welfare is of critical significance both in itself and for fundamental interests and long lasting social welfares. With respect, ethics and morals are important in furthering sustainability in the environment since businesses will conduct their businesses, taking environmental factors into consideration, and ensuring that they do not inflict environmental degradation. Sustainability is important for not only human life but also for biodiversity. This supports the fact that business ethics and morality intersect life (Brenkert & Beauchamp, 2010).
Business ethics is a necessity for human life. It is the means for determining the right course of action in any situation. Without business ethics, engagements would be haphazard and purposeless. There would be no real way of working continuously towards an objective since it would be tricky to identify the infinite number of objectives. Even with moral and ethical standards, it can still be tricky pursuing their aims with the probability of success (Michalos, 1995). To the extent to which coherent ethical standards are engaged, people have the capacity to appropriately organize their goals and activities to achieve the most significant values. Any fault in business ethics will decrease the capacity to be successful in achieving their activities. Life in itself is considered as a self-sustaining and self-generating action. Life necessitates action, and action needs values.
Therefore, ethics and morals are incorporated in daily life to identify how different people and communities can live happily with others. In addition, moral standards have to be measured in contradiction of how they encourage and assist in achieving life and happiness (Verstraeten, 2000). All living things have a fundamental option, which is to live or not and to involve themselves in actions needed to advance their own life or to participate in actions terminates their own life. There is only one substitute, which is death. Opting for life is in itself moral and ethical. Even though it can never be judged as right or wrong action, it becomes the duty of morality to assist individuals in living their best expected life (Abend, 2008). This provisions demonstrates how business ethics and morality intersect life.
Business ethics and morality are very important for making good choices in life. They direct rightful decision making and control how individuals should conduct themselves in a given culture. The changing aspects of a more linked and transparent society have engaged the best conduct of people. Currently, how businesses conduct their businesses for the interests of people determines how best individuals can live and thrive in the society. People and business competitors can easily see what takes place in each and every company. In addition, clients and workforce can determine whether a business is maintaining their promises to people Shareholders, members of the community and managers can also perceive what businesses are doing to comply with business ethics and morals. Therefore, the expectations of businesses are high in relation to ensuring sustainability of life in the course of their production. In line with these expectations there are prospects that need to be embraced in terms of behavior as an exclusive and renewable source of justifiable diversity. Corporations that prosper in shaping the conduct of their workforce presently have an exceptional opportunity to out-behave their competitors (Chryssides & Kaler, 1993).
Business ethics is very significant for businesses since it gives them credibility in their operations. A corporation with credibility tends to have more clients because they trust the company and thus they purchase from it often. Most companies need strategies to assist them in making appropriate decisions. Currently, professionals have discovered various approaches such as Utilitarian approach, rights approach, as well as the common-good approach (Michalos & Poff, 2012). It appears that corporate social responsibilities have unrestricted commitment to ethics and morals. The main concept behind business ethics is to stretch and outstrip the call of obligation.
Besides, corporate social responsibility currently involves more than making profits. With the development of several multi-national companies and the prominence of ethics, an international code of ethics has been made. Ethics plays a very important role on ascertaining the success of any business. There are several organizations and institutions that have been created to ensure that corporations and other businesses as well as organizations comply with the fundamental business ethics and morals. This show indicates the importance of business ethics. Particularly, business ethics and morals are closely related to sustainability, which is very significant aspect in the present-day-life (Machan & Chesher, 2002).
It is crucial to consider ethical provisions in an organization. In this piece, a dilemmatic situation demanding ethical considerations has been identified to support the fact that business ethics and morality intersect life. Dilemmatic situations demanding ethical interventions have been numerous in various organizations organization. Managerial responsibilities in most organizations incorporate authorizing the distribution of commodities, budget preparation, logistic management, ordering as well as buying materials from various producers. As required by the moral standards and ethics for an individual in this position; no bribe should be accepted for selling or purchasing commodities. Concurrently, distribution should be done with high integrity. This implies that there should be no any form of favoritism, biasness or discrimination. This is a critical provision when scrutinized comprehensively.
There are certain elements involved in making decisions according to ethical standards. Sound decisions lie in the fundamental principles of ethics. Some of these principles include the spiritual conviction, personal morals, and the experiences of an individual as well as the behavior a person (Brenkert & Beauchamp, 2010). Nevertheless, viable decision making in an organization depends on the set guidelines in that organization. The guiding principles in an organization can include; how employees are dealt with, responsiveness to discrimination of individuals, values embraced by the organization, and objectives of the company. This demonstrates how business ethics and morality intersect life.
The ethical codes of engagement are identified based on individual’s planned business activities. Businesses should hold the capacity to foster social integration and mutual understanding that is significant in aiding the realization of business growth (Harms 123). This ethical principle forms the most important section that is quite valuable to the businessmen. Businesses should embrace fairness in their endeavors. In particular, fairness is an ethical code that ensures justice to all involved participants. Concurrently, businesses should eradicate discrimination and unjust practices that may compromise the viability of the executed businesses. In this regard, businesses should exercise fairness and justice when conducting the study. This supports the fact that business ethics and morality intersect life.
Respect to human dignity forms a formidable ethical value that businesses must display (Abend, 2008). Respect for persons requires business entities to understand the subjective nature of customers as well as their capacity. It entails operations without disregard to individual’s decisions and protection from risks. Consequently, confidential management of customers’ information is vital in any business. Confidentiality is an integral ethical and morality element. Clearly, social equality and unfair representation of customers delimits the ability to exercise ethical guidelines. Ethically, the elements that are discussed forms the most pertinent information required in the business context (Ahner, 2007).
Business ethics incorporate core values and principles that guide execution of business activities in various settings. The values are crucial in ensuring the realization of accurate results and quality performance in business. Various professions and activities have ethical standards that participating members are expected to conform to with diligence. The standards are set to foster sanity and facilitate execution of activities with utmost etiquette. Ethical principles are critical in conducting profitable businesses. That is, the guidelines advance sanity and the realization of realistic profits. Ethical standards in business settings require businessmen to practice fairness, display subjective respect, exhibit confidentiality, and formulate structured methods of communication (Meacham & Chesher, 2002). This is to enhance social coherence and build a strong relationship between individuals and business entities. Precisely, this demonstrates how business ethics and morality intersect life.
Evidently, the significance business ethics and morality in decision making cannot be assumed. This is based on their relevancy and absolute guidance on pertinent issues. It is crucial to understand the contribution of business ethics and morality on institutional and individual judgments. Contextually, the answers of the self-assessment reflect clearly on the significance and viability of ethical decision making on critical issues. Guidance attained from ethical concerns can help in making decisions on controversial issues facing an organization. This is a critical concern when considered in various aspects (Abend, 2008). It is from this context that the entire argument lies with respect to ethical concerns in the realms of decision making. Accordingly, it is crucial to understand various concepts fronted by the aspects of business ethics and morality. Additionally, the issues emanating from business assessment reflect clearly on the aspects of ethical decision-making due to their importance and virtues (Morrison, 2011).
Ethical decision making require stipulated virtues set to guide the entire process. An organization must establish and enact its ethical guidelines that can be used to resolve critical business ethics and morality issues. These must be verified for validity, relevancy, and vastness in the realms of applicability. This is quite important when considered critically with respect to ethical decision making and other relevant concerns. Setting critical benchmarks for ethical deliveries is important as a guideline to contentious issues. These provisions exhibit how business ethics and morality intersect life. This is a critical ethical consideration noticeable within the business context.
Concurrently, business ethics and morality influence decision making in vast ways. As indicated before, they act as the guiding principles throughout the entire decision making processes. This is a critical provision when considered decisively in various contexts. It is difficult for an individual to defy his or her ethical virtues when making decisions on critical matters. This indicates the importance of having well-set ethical standards at individual level. In this context, the organization’s ethical standards will just augment the already entrenched ethical values within an individual (Nelson, 2005). Evidently, people make decisions based on their respective ethical values and other virtuous concerns.
This indicates how an individual’s decision making process can be influenced considerably by his or her ethical concerns. Contextually, this varies from one individual to the next. It is critical to understand this provision in order to make critical judgments on pertinent business ethics and morality issues. Additionally, an individual’s ethics can dictate his or her vulnerability to adopt the ethical standards. An individual who values and embraces the aspects of business ethics and morality in his or her endeavors will always survive in the business arenas (Meacham & Chesher, 2002). Precisely, business ethics and morality are prominent tyrants in the decision making processes. This signifies how business ethics and morality intersect life.
Business ethics and morals are closely related, and are very important for businesses and individuals in the society. One of the key areas where ethics and morality plays a critical role is the business sustainability. Companies that do not embrace ethics and morals interfere with biodiversity in terms of environmental degradation. This is a threat to life as argued earlier as it illustrates how business ethics and morality intersect life. Ethics serve a very important role among individuals. If ethical standards are not observed in an organization, serious consequences could be realized. The consequences could range from frustrations in the profession to fatal consequences. Even though companies and organizations set their own values and ethical standards, it is important for an individual to uphold integrity, ethics, and moral values. This supports the fact that business ethics and morality intersect life. It is notable that when legitimate moral values, regulations, and obligations are exposed to ethical examination, their association to fundamental human interests, irrespective of their cultural backgrounds, is very significant. Business ethics and morality act as the guiding principles throughout the entire decision making processes.
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