Do / should moral values have a place in business activities ? For example , is...

Do / should moral values have a place in business activities ? For example , is it acceptable to lay off students who have limited financial resource ?

Expert Solution

Business ethics should flow from the golden rule — "treat others the way you want yourself to be treated." Just because money is involved doesn't mean your business should ignore basic moral principles. We are all consumers so we know how to deal with companies from the other side. Your company's basic precepts should include ensuring that both parties to an agreement are treated fairly so that they mutually benefit from a transaction, telling the truth, and giving respect to customers. A good business will only succeed if it makes a profit, and an ethical business plan for making profits should be drawn up and adhered to.

Corporate morality has to begin with how it handles its employees. If the staff are not equally treated, there is no justification for them to serve the right customers. A formal statement of mission is a great way to put forward ethical precepts, especially when workers see that those principles apply to everyone. Benefit packages and income sharing are perfect ways to give workers benefits because the company's destiny is now their own.

Rahul Sunny answered 2 years ago

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