Business Ethics Research
The most common areas where business ethics are at stake are in advertising ethics, personal selling ethics, ethics towards suppliers, ethics in contracts and pricing of goods (Schlegelmilch, 1-7). The business ethics ensure that the employee, for example, is not exploited by his employer or the top level management and thus ensuring a healthy interaction between the employees and the employers. The ethics also ensure that there is the maintenance of morals and fair business practice towards the customers (Crane & Matten, 245-260). In simple terms, business ethics, therefore, are the guiding principles and standards which guide the behaviors of the organizations. This paper will explain business ethics history, its advantages and the disadvantages; such include building the loyalty of customers, retaining the good employees, creating an enabling working environment, avoiding legal issue Philosophers evaluated various practices including vices virtues in money leading as well as in commerce in the past, (McCloskey, 2-9).
Such question was related to workers' rights and ethics which employers during this period should have obeyed to ensure fairness in the workplace. They also tried to tackle and solve social problems associated with socialist models of ownership as well as critiques associated with the capitalist. Focusing of all these past issues which were analyzed by the ancient philosophers, it is obvious that, they are relevant to the present day business ethics but in a broadened sense as it was not organized in any manner or form. Thus the business ethics in the past, it could apply on all matters relating to human right abuse and violation as seen in slavery and colonialism activities in the 19th century. Today, business ethics has been narrowed in its application (Hamington, 7-10).
Tom Beauchamp, Norman Bowie, and George Brinker are just but a few philosophers who came up with moral and social conduct in the modern time business ethics. Their works have been used in many research works relating to business ethical and moral relations for a reference work Business ethics and the moral relation concepts were further developed by consultants, activists and other independent corporates which involve public relation departments (Obara & Peattie, 30-38). There are various scholarly organizations that have highly contributed to the growth and development of various concepts in business ethics including European Business for Ethics Networks and the society of business ethics. Publishing of various issues associated with business ethics was highly published by Journal of business ethics from 1982.
The study of general growth and development of ethics in all field from the ancient period to the current time as seen above clearly defines various issues which led to the growth and development of business ethics and in particular basing our argument on a philosophical point of view. This level of business ethics is concerned with evaluating activities of the above entities, their responsibilities, rights, permissions and their obligations (Taylor & Yang, 567-571). For instance, whether they have proper and accepted structures, rules, culture, and authorities. The business ethics of mid-level also analysis the characters, obligations, identities, and rights of individuals working in such them. At the mid-level of business ethics at broadened sense, it is focused on the structure of markets and the way they are regulated in a given democratic state as well as in the international economy.
This level of business ethics analysis how free the markets are regarding goods, capital, services as well as labor (Taylor & Yang, 550-561). Johnson used a hooping $100 million dollars in recalling Tylenol one of its most sold product in 1982 when someone was found to have interfered with the painkiller's bottles. This was aimed at boosting customers' confidence despite the massive support it enjoyed from the customers. However, cases of mistreatment such as overcharging and poor quality products may change everything. They may decide then to cease being the customers of that business organization. Have the loyalty of the customer is one great step towards business success because dealing with the loyal customer ensures that there is the reduction in the marketing cost as is the case in with new customers.
Ethical behavior needs to be ensured from the point at which the interview is being done on the individual. One such ethical behavior is trust on confidential information. When supervisors trust their subordinates with confidential information, a positive relationship is created among them. It is this kind of relationship that creates the enabling environment for work. On the other hand, the individual who cannot be trusted with information and culpable of peddling lies risk missing on job advancement and eventual firing. Organizational ethics ensures strategic decision making (Ferrell, & Fraedrich, 119-121). An ethical system avails an existing framework for decision making. The codes of ethics of organizations usually act as the basis for which common decisions affecting both the external and internal stakeholders are made.
Such decisions may involve stakeholders such as the employees, the shareholders or the local community. Having the codes of ethics will help the organizations make solid decisions that are useful for business growth. Business may get the external pressure to act ethically (Wood et al, 99-101). Such pressure emanates from customers, pressure groups, and regulatory bodies. There has been a rapid rise of customer activism through the use of online platforms. The pressure groups tend to be more focused on the activities of the businesses and the manner by with those businesses is responsive to business ethics. There action, be it direct or indirect, can damage the reputation of the said business. The sales are likely to improve, the talented employees are likely to be retained and the customer base is likely to rise.
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