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About Having Business Ethics

21/06/2011

By Craig Calvin
Business ethics is a branch of ethics (applied or professional) that focuses on ethical rules and principles from a commercial perspective. Business ethics is relevant to all aspects of business, individual conduct and organizational conduct. Various kinds of activities are examined to ascertain if they are ethically right or wrong. Business ethics is a form of applied ethics which is part of philosophy. Thus it takes ethical principles and concepts developed philosophically and theoretical for specific business application in a given scenario. Applied ethics is a field of ethical study that deals with the various ethical questions in fields such as the medical, technological, business and legal fields.
Business ethics consist of a normative and descriptive discipline. Basic normative ethics are cooperate functions including carrier in nature. The amount of business ethical issues and the extent of these issues show how much of a problem the business in question is at odds with non-economic social values. If a business decides to participate in unethical practices, it is very important for businesses and companies in the same line of business to discuss the problems either individually or as an industry collective. There are impact models already in place that will reflect the impact such actions will have on immediate surroundings. The responsibility is carried by the company, regardless of revenue increases or other factors to every entity affected by their actions and do have ethical implications that will have to be dealt with. Large corporations are already aware of their impact on an area they are operating in and they have felt the sting of bad decision affecting residents and environmental issues.
Many of the large corporations have found favor with communities that they operate in by providing basic amenities such as health care, education and a variety of job opportunities to the residents. Black market sales, bribery, kick backs, creative accounting or cooking the books, deceptive advertising, political influence, industrial espionage, discrimination and competitive disinformation are a few of the very common ethical issues surrounding many businesses.
In a business there are many sectors with different responsibilities and processes. Ethical practices may slightly vary from one sector to the other but come together to define the company’s ethical policies. The financial aspect of business ethics is concerned with debt and equity financing, dividend policy, evaluation of alternative investment projects.
It is the job of a company’s Human Resources branch to recruit, train, orientate and performance evaluate each employee as well as reviewing health, safety and other issues that have ethical implications attached. Arguing that the ethics issues should only include those that are of only immediate human concerns in nature and not effect the shareholder profits in any way. This is commonly referred to as having a “Neoliberal Logic View”. Many others argue that he well-being of labor should, under no circumstances be compromised and the dignity of labor be actively preserved. The ethical guidelines and policies extent to the marketing, sales and production sectors as well. It is also advised to closely examine any practices that might be viewed as “conflict of interest” and could create real problems for the company and their decisions being questioned.

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