Morality is grounded in the profit principle. There are two versions that this principle tells. The first is that good business ethics is said to result into good business (Fieser, 1996). This however is considered to be a weak principle because the effect of morality principles that a corporation implements can only be seen after some span of time. For instance, the concept of implementing moral principles that desire the best interests of the public so that the corporation can have a long trusting relationship with its public customers can only be economically advantage after some time. This is because the corporation will still need to seek and wait for the consumers' trust. And, according to researches and studies, trust are usually given by customers after some continuous time of being satisfied with the products or services that the corporation offers. Fieser further provides the following examples to this principle.
Some moral business practices may not be economically viable in the long run, such as, perhaps, retaining older workers who are inefficient, as opposed to replacing them with younger and more efficient workers
Those moral business practices which are good for business depend upon what at that time will yield a profit. In a different market, the same practices might not be economically viable. Thus, any overlap which exists between morality and profit is both limited and incidental.
On the other hand, the relation of morality to profit can also be considered a strong basis for corporations to observe moral obligations to society. One is when it is based on the demands of consumers in the market. For instance, when consumers demand for safe products, it is only sensible that corporations that maintain morality obligations to society can succeed because they simply satisfy the needs of consumers. Those corporations who do not, on the other hand, may loose and fail in the competition.
Morality is grounded in the law principle. This approach indicates that corporations should have moral obligations to society based on what the law dictates....
Training is part of this process, so that people explicitly understand the ethical culture of the company. Ethical cultures tend to be self-perpetuating because the people within the organization will hold themselves and their co-workers accountable. When you look at a company like Enron, large parts of that company were devoid of ethical standards, so it was much easier for the frauds to occur. Enron also highlights the need
Multinational Corporations In many powerful nations with whom U.S. corporations would like to do business (such as Mexico, India, and China) the price of bribery is factored into the everyday costs of doing business. There are profound cultural differences regarding perceptions of the ethics of bribery and in some government officials' views, receiving a bribe is an expected part of their informal salary. However, legally, the hands of U.S. companies are
Business Ethics Focus on Merrill Lynch According to Laura Hartman and her co-writer, Joe Desjardins in the work entitled "Business Ethics: Decision Making for Personal Integrity & Social Responsibility" philosophical ethics may be clearly differentiated from theological ethics because theological ethics attempted to disseminate the well-being of an individual on a religious basis while the ethics of an individual's philosophy is such that provisions of justifications that can be applied to
Therefore, corporations have had to change their viewpoints and start looking at the long-term consequences of their behavior, as well as looking at the bottom line. Businesses also have to be concerned because consumers have also become aware of environmental concerns, and many consumers are demanding earth-friendly products and have shown a willingness to pay more money to competitors who observe environmentally-friendly practices. Interestingly enough, this demand has given rise
However, she will either not feel comfortable in the culture and leave or, she will at least give thought to her actions at work and behave ethically so she is not fired. Outline: Introduction Thesis statement: How a person acts in their personal life is indicative of how he/she will act in business. Need more involvement from secondary schools and companies as role models. Personal situation at work with unethical employee. A. Anomie outside of
Ethics HRM Ethics Job Description ABC and Co. has a position open for the following designations. Job Title: Corporate Ethics Officer Reports to: Managing Director Based at: Los Angeles, California Job Purpose: Identifying the key corporate ethics values of the company and devising a code of conduct for the company that incorporates the ethical values in the company's long-term strategic goals so as to take the rights and safety of stakeholders in to consideration. Key Responsibilities: The Corporate
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