Question

"Business is Business and Ethics is Ethics and Never the Twain Shall Meet"

In the light of ethics theories and current business practice, discuss this quotation briefly

Answer 1

MEANING:

BUSINESS: A business is defined as an organisation or enterprising entity engaged in comercial, industrial or professional activities.

ETHICS: The word ethics is derived from the Greek word ethikos means character is the essence of values and habits of a person or group. One of the meaning is ethics are the principles of conduct governing an individual or a group.

Never the Twain shall meet: It is the word used to say that two things, place,etc.,are very different and can never be brought together or made similar as far as he concerned, work is work , family life is family life,and never the twain shall meet.

In the light of ethics theories and current business practices, discussing the above quotation briefly as follows;

• Ethics in business is the application of every day moral or ethical norms to business.
• Business ethics is a set of prontor reason which should govern the conduct of business at the individual firm levetor at the collective industry level.
• It refers to a corporate culture of values , program, enforcement and leadership.
• Being ethical in but requires acting with an awareness of how the product and services of an organisation and the actiotof it's employees can effect it's stakeholders and society as a whole and developing codes of conduct for doing business.
• It is a form of applied ethics . It examines the various aspects of business. It keeps the business under the test of ethical rules and principles.
• The authority to own and use natural resources for a business is given by the society. So the society has the right to expect the organisation to keep the interest of the society in their mind and protect them..
• While doing the business the manager would face the ethical dilemmas. Many businesses issues may seems straight forward and easy to resolve but in reality one is faced with having to make a choice from various alternative in which more than one option seems right resulting in an ethical dilemma.
• Every business organisation should follow ethical practices but some tines it was not right to choose the ethical factor will leads to dissolution of business .

So, these are in the light of ethics theories and current business practices.