Business ethics is the behavior that a business adheres to in its daily dealings with the world. The ethics of a particular business can be diverse. They apply not only to how the business interacts with the world at large, but also to their one-on-one dealings with a single customer.
A business is not one that lives in isolation; it can be an integral part in a community’s success or demise and has social responsibilities to; the community, stakeholders, and anyone who may be affected by a company’s actions. Corporate social responsibility is a term that is never used lightly and is a key role in the development of a successful and morally healthy business. “The objectives of a corporation are to outperform its competitors, presumably through preferred competitive strategies” (Joseph Heath 123). There are three main models by; Freeman, Friedman and Heath discussing corporate social responsibilities and all have distinct differences between their moral obligations, and the way they perceive business should be ran in a
Ethics and moral obligation are something that we all encounter at one time or another. Even in a professional setting, all persons should act in a manner that would uphold the good of society. Why is it that good, ethical and moral behavior is not always adhered to? Is it because some people do not understand ethics and what it means to be ethical? To be ethical, one has to decide between right and wrong, determine what is for the betterment of society and act accordingly. Ethics have three basic criteria that must be met obligations, moral ideas, and consequences (Ruggiero, 2004). Businesses have their own code of ethics and the individuals within that business have to determine
closing the stores they could have done community outreach or service projects to help lower the rate of crime. They could have led the establishment of a neighborhood crime watch. They could have set up a mentorship program for teens at risk. There are a multitude of programs they could have implemented, some could probably have been used as a tax write off. If all of these efforts failed then I understand closing the stores. If they had to close the stores they should have made every effort to be sure that the displaced employees were able to find a job in another store or assisted them in being placed in another job. They also need to make every attempt to keep the building they were using occupied or cleaned up until it is occupied. How do these actions contribute to being socially responsible? It shows they care about their community, that even though they may have to shut down a store, they still
What is principle of justice in acquisition? Our book gives us an analogy concerning basketball player, Wilt Chamberlain that was used by Nozick. The idea
Ethics and moral obligations are issues we all encounter at one time or another. In the professional setting, all people should act in a manner that would uphold the good of society. To be ethical, one has to determine their obligations, moral ideas, and moral philosophy (Boatright, p. 19, 2009). The case analysis involving Jacob Franklin was a perfect example of how an individual can face the dilemma of doing what is right or wrong. Businesses have their own code of ethics, and the employees within the business have to determine whether or not they will follow the company’s code of conduct. I will discuss several ethical issues in the case analysis including; failure to report information, remaining silent regarding faulty equipment,
Therefore, Market West accepted the corporation stock as partial debt. Hooper and Yoder agreed to add Brian Bradley who worked for Market West as the third director. Hooper colluded with Bradley and violated a fiduciary duty to Yoder by issuing 95 shares of stock to himself, 5 shares to Bradley, and none to Yoder. Furthermore, Hooper got paid $141,000 salary from the business without Yoder knowing. More importantly, Hooper and Bradly voted to force Yoder to leave the corporation. After Yoder found out that Hooper broke their agreement, violated Yoder’s rights and duties, acted dishonestly, and made unethical decisions, Yoder sued Hooper and Beautiful Daydreams in the District Court. Under the common law, with these facts, the court supported Yoder and ordered Hooper to give back one-half of the salary plus one-half of the shares of stock to Yoder.
This is in stark contrast with what we see outside the country where there is full privatisation, especially in the USA. Also, most of the operators are under the Build-Operate-Transfer Contract with Airport Authority of India.
This assignment has a maximum total of 100 marks and is worth 10% of your total grade for this course. You should complete it after completing your course work for Units 1 through 5. Answer each question clearly and concisely.
The notion of ethics deals with people’s behaviors within a company. Social responsibility involves a company’s moral obligations and the manner in which the organization makes its decisions. Although ethics and social responsibility are similar on a conceptual basis, each has its own unique characteristics that express their differences and its independence of the other. Ethics and social responsibility have to be present and coincide with one another for a business to be ethically sound.
2. Ethical Issues in Business. It seems that every day in the news we are hearing of new company that has acted at least unethically and possibly illegally in the operation and financial reporting of their company's business dealings. There are many ethical issues in business. One major issue that we see is over and under reporting net income. Companies like to show that every quarter the net income of the business has an increase or profit. In order to show this they adopt unethical or illegal means in the operation and financial reporting. One such method is the indiscriminate use of stock options for employees that enable companies to take employment costs off balance sheet and inflate earnings. With the recent ethical issues we have
Ethics is the branch of philosophy that deals with the principles correlated to human behavior concerning the rightness and wrongness of specific conduct, and to the good and bad that influences and ends those actions (Ditonary.com, 2011). In other words, ethics is the choice people effect in regards to a decision they need to achieve. Without ethics directing the choice an individual makes, moral preferences of what should or should not be done becomes irrelevant. While ethical decisions are made every day there are two different regions in which these choices are made.