Business Ethics Paper

1824 Words Jun 18th, 2009 8 Pages
MOI UNIVERSITY
SCHOOL OF BUSINESS AND ECONOMICS
ELDORET WEST CAMPUS

(Human Resource option)

COURSE CODE: BBM 406

COURSE: BUSINESS ETHICS

TASK: Assignment I

PRESENTED BY: Jayne Wairimu Njenga

ADM NO. BBM/1491/07



PRESENTED TO: ROSE OMONDI
Course Tutor

DATE: March 2009
Question:

Is good Ethics good business?

Definition of Business Ethics
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
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3.Business to External Environment. Because businesses exist within a community from which they take resources, businesses have ethical responsibilities to the community. This obligation to protect and enhance the society is called Social Responsibility. This also includes responsibilities to the customers from which they earn profits. The main areas of Social Responsibility are:

Ecology and environmental quality - preventing and cleaning pollution, noise control, recycling, preserving land.
Consumerism - truth in advertising, warranties, control of harmful products.
Community needs - helping charities, aid with health care and urban renewal.
Governmental relations - elimination of bribery of officials and lobbying, following laws.
Minorities and disadvantaged persons - providing training and opportunities for these groups.
Labour relations - permitting unions, negotiating fairly, providing fair working conditions and compensation.

ARGUMENTS AGAINST BUSINESS ETHICS

Ultimately, businesses exist to make a profit for their owners and shareholders. In most cases, ethical behaviour adds expenses to the business, reducing profits. Profits are a good thing - they ensure that people have jobs. The smaller the profits, the fewer income tax dollars are paid, which would hurt government programs.

The government takes care of ensuring that businesses do things in an ethical way. No other forms of…

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