Question

You are enrolled in the business ethics class which is for business students. We all have different definitions of business ethics and what it means to personal and business life.

NOTE: You do not need the textbook for this assignment so no excuses - let's just get into the topic and start an interesting discussion. These are your views supported by a bit of research.

Please post a discussion of what business ethics means to you. The posting should be approximately 250 words and include references to articles on business ethics to support your discussion. Please cite the article in your posting and use proper references. Also, please attach the articles as a word document to your posting. I do not want the website as they often change, please post the article as an attachment in a readable form.

Also, please respond to two of your fellow students' postings. Comments like "great job", "I agree", etc. are not appropriate responses. Responses need to be thoughtful and make additional points or raise questions. This class is really about critical thinking and thoughtful inquiry

Answer 1

Business Ethics means study of principles , policies and practices which are formulated with the motive of gain public acceptance. It is essential for an organization to have a reputation in the market to survive in the industry.

The concept of business ethics come into consideration in 1960s . It is more than the moral code of right and wrong . It attempts to creates competitive advantages for the companies by fulfiiling the social responsibility of the business.

Business ethics is about showing concern about the environment, social causes and corporate responsibility. It is base on the concept that every business organization have some social responsibility irrespective of what type of organization it is. It is understood that every business is set up with the motive of earning profit but this objective caant be termed as a only objective of the business.

Business ethics has the following features:

1. Business ethics are the code of conduct which helps the organization to tell what should be done and what should not be done.
2. Business ethics are social and moral principles to run a business
3. It helps to protect various groups like consumers, employees, shareholders etc
4. Business ethics provides a basic framework for doing business ethically. It creates social, cultural, legal and other boundaries within which the organization should run their business.
5. Businesses requires proper education and guidance to understand business ethics in detail and their effective value.
6. Business ethics are flexible according to the country and society. So, it may be different for every state .
7. It is a relatively newer concept . hence it is more in use in developed countries than developing countries.