Business Ethics
Evolution Of Business Ethics
The success of any organization largely relies on the adoption of strategies that ensure conformity to the stated organizational and legal requirements. The adopted strategies should also focus on promoting the realization of the mission and vision of the organization. A significant proportion of organizational decisions often aim at ensuring enhanced production, competitiveness, and heightened visibility of the organization. It is beyond doubt that business ventures of all the organizations globally aim at allowing the organizations to realize profits, improve their performance, and achieve their stated objectives. However, as organizations strive to achieve the above, they must consider the adoption of actions that uphold their social responsibility to their stakeholders such as the customers, employees, and lenders, as well as, the environment. For organizations to be act in ways considered social responsible, they should apply business ethics, as they determine the constituents of their right or wrongdoing (Paliwal, 2006). Therefore, this essay will focus on summarizing the evolution of business ethics over the past, changes that caused the focus of the business ethics. The paper also focuses ways in which the changes have affected the business practice and provide a comparative analysis of my personal values of the evolution of business ethics over time.
Historical development of business ethics
The historical origin of the business ethics dates back to the 18th century when organizations started focusing on the need of social responsibility and protection of social, environmental, and human rights. Despite its 18th-century origin, it is recognizable that business ethics has existed as human beings...
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