Question

In: Economics

The statement, “Ethics should be simple and straightforward, if it is wrong, don’t do it!” Yet, we still see businesses doing unethical practices.

The statement, “Ethics should be simple and straightforward, if it is wrong, don’t do it!” Yet, we still see businesses doing unethical practices. 

a) Evaluate the statement and provide your perspectives 

b) Provide an example of an unethical business practice and apply the parts of ethical principles as well as moral intensity, moral sensitivity and situation influences. (cite your example)

Solutions

Expert Solution

a) Ethics is the moral compass to do things , and do them in an appropriate way, so that no one else gets harm from personal actions as well as no superficial gains are gained through the actions. Given such intensities and parameters , it is ideal for ethics to be straightforward, this means the observations should be binary, whether one thing is right, it is right and if it is wrong , then it is wrong. The versions of right on wrong vary for different people but the bottom line is personal actions must not harm anyone whether the hurt is mental , physical , financial etc.

b) Example of an unethical business is narcotics business. Narcotics are bad for health but they are the most consumed and in demand business for any economy. Not only this , they are usually one of the top tax paying units for the economy. These units are allowed to operate ,this is unethical on the grounds of both govt and the business operators. The business profits are gained on the grounds of units sold which are injurious to the consumer's health.

To ensure least damage the production company can reduce the amount of narcotics used for the production of these units. But that is not the case.

However in order to curb the present consumption , the operators and govt release both advisory and health warnings to discourage the consumption. This step is ethical as although it can reduce the consumption , still these advisories are issued. Hence this is a moral sensitive action with positive impacts on the society.

Concluding ,the situational influence further decided the consumer's demand and producer's supply of narcotics, which varies for various societies. Usually where these goods are legal, the demand and supply both are high. The rate of supply can only be decreased when demand falls or govt intervenes to discourage the consumption by banning it.


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