Building Up A Sustainable Wealth Management Or Financial Planning Profession

Lawrence Kohlberg, a developmental psychologist, identified six developmental stages of human moral reasoning. The first stage that he recognized was the Punishment-Obedience Orientation, where the person’s concern is for avoiding punishment through obedience. The second stage was the Instrumental Relativist Orientation, where the person’s concern is to work in their self interest, and better their position. The third stage of moral development was the Good Boy-Nice Girl Orientation, where the person’s concern lies with their reputation. Next was the Law And Order Orientation, where the person was less concerned with their own immediate well being to the maintenance of a larger society. The fifth stage was the Social Contract

Business Ethics are defined as “moral principles that guide the way a business behaves” (Businesscasestudies, 2017). In order for any business or individual to act in an ethical

As stages in psychological development have been defined by Freud, stages in moral development have been outlined by early educators Jean Piaget and Kohlberg, who put forth differing views on the moral development of children. Piaget theorized that children process morals in stages, first one then the next, with a transition in between. The first stage (from ages 4 to about 7) is referred to as “heteronymous morality”, where children think of rules as constants, that is to say, rules are part of the world’s makeup with no input or possibility of change by people. As children progress from seven to ten years of age, they move from one stage to the next, maintaining some of the traits of the

Lawrence Kohlberg, the author of three stages, was an American psychologist who is well known for his theory on the stages of moral development. According to Kohlberg, there are three levels of moral development:Preconventional (moral reasoning is based on external rewards and punishments), Conventional (laws and rules are upheld simply because they are laws and rules), and Postconventional (reasoning is based on personal moral standards)” (powerpoint).

According to Omidyar & Branson (2016), business ethics are called as corporate ethics which is a set of rules that define the right and wrong behaviour. From the research, ethics are a form of applied ethic that can be used to evaluate whether the conduct of the people are considered acceptable and appropriate. Besides, business ethics are the collective values of a business organization that can be used to evaluate whether the behaviour of the collective members of the organization are considered acceptable and appropriate. In the most basic term, a definition for business ethics boils down to knowing the difference between right and wrong and choosing to do what is right.

The second level of Kohlberg’s Theory of Moral development is the Conventional Level. The Conventional level consists of stages 3 and 4. Stage 3 is based on interpersonal expectations. Those who are at this stage try to be a “good” boy or a “good” girl and live up to others’--such as close friends and family’s-- expectations. Stage 4 is based on Law-and-Order. They are not only focused on what their family and friends say; they are now focused on society. These stages are usually reached by early teens. They don’t blindly follow rules;

Lawrence Kohlberg is known for his theory of moral development developed in 1958. His theory was dependent on the thinking of Swiss psychologist Jean Piaget and American philosopher John Dewey. It consists of three levels of moral reasoning: preconventional, conventional, and postconventional. These levels are based on the degree to which an individual accommodates to the conventional standards of society. Each level aquires two stages that serve as different standards of sophistication in moral reasoning. Overall, Kohlberg affirms that moral development is a process of maturing that emerges from thinking about about moral issues (“Kohlberg’s Moral Development”).

Business ethics is a vital element to the growth and success of any business. To be ethical means to have a system of moral principles. Ethics alone is a branch of philosophy dealing with values relating to human conduct, with respect to the rightness and wrongness of certain actions and to the goodness and badness of the motives and ends of such actions. To have business ethics you would take the meaning of ethics and apply it to the things that go on it the work place. We are going to take

Business Ethics is a set of moral principles applied in the commercial world. Business ethics provide guidelines for acceptable behavior by organizations in both their strategy formulation and day-to-day operations. An ethical approach is becoming necessary both for corporate success and a positive corporate image. Following pressure from

Business ethics refers to the consideration of moral decisions and responsibilities in the process of operating a business. Business ethics, practiced throughout the deepest layers of a company, become the heart and soul of the company 's culture and can mean the difference between success and failure. Values drive behavior and therefore need to be consciously stated, but they also need to be affirmed by actions. Ethical business environments are created with foundations of integrity, accountability and commitment.

Kohlberg (1963, 1981, 1984; Colby & Kohlberg, 1987) expanded Piaget’s work, developing a most influential cognitive developmental theory of moral development. Kohlberg proposed the progression through the invariant, universal sequence of three moral levels each composed of two distinct stages. According to Kohlberg, no stage can be skipped, neither will there be a regression to an earlier stage.

In these stages the subjects internalize the moral standards of the adults in the environment. The adults authority is understood but the moral tendencies are more based on the people of a specific group to which one resides in.

Business ethics is a very extensive subject that is not easy to define. According to Andrew Crane and Dirk Matten (2004: 5), business ethics is the study of business situations, activities and decisions where issues of right and wrong are addressed. With an increasing globalization, environmental and social issues have amplified and therefore companies have to take full responsibility for the wrong impact their actions have. Gap pays a lot of attention to the social issues and challenges that large companies face, although it had some ethical issues in the past.

The second level of moral development is the conventional moral reasoning; “Beginning in middle school, up to middle age – most people end up here” (“Kohlberg’s Stages of Moral Development.”). At this level,

The theory of moral development, advanced by psychologist Lawrence Kohlberg is one of the most well-known persuasive theories in the field of cognitive science and stems from the work of Jean Piaget, which hypothesizes on the direct correlation that exists between moral and cognitive development. Kohlberg speaks of the appearance and understanding of what is right and wrong from childhood to adulthood and explains by this transition through the identification of various levels of morality known as pre-conventional, conventional and post conventional. People will make decisions based on the understanding of the possible outcome and through reasoning of morals. (Target Concept)