Question

EXPLAIN WITH YOUR WORDS HOW THE THREE MAJOR ETHICS FUNCTION IN SOCIETY AND FOR MAKING DECISIONS

Answer 1

In business ethics decision-making usually requires companies to identify specific ethical standards that often mean different things for different people. As organizations continue to grow and expand, new people are recruited who may not have the same ethical standards as people already working in the company. An ethical difference often changes the way individuals approach the decision-making process. Often companies use the mission statement of the organization to create a framework to help individuals make ethical business decisions.

Business ethics is a tool employed by companies to ensure that managers, directors, or executives act responsibly in different business situations. Ethical decision-making attempts to promote the enterprise as a whole, instead of allowing one individual to profit from business decisions. Individuals who make decisions consistently based on their personal benefit may create legal liabilities for a company that may lead to bankruptcy.

It is not overnight that we create an ethical business environment. Companies may need to train time and money, and promote business ethics between managers and employees. Companies may also find that the implementation of an ethical decision-making process can result in negative feedback from managers or staff. It can be a difficult part of implementing business ethics to combat this negative feedback