Introduction
Ethics are highly subjective, not objective. It's true that they use basic logic, but they also use the point of view of the arguer and their value system. As such, two very reasonable people can come to very different (even opposing), yet equally-valid ethical conclusions. Several people assert that one specific ethical framework and set of values is the one and only correct one, but the fact is, we have no way of choosing one correct framework, or even one set of correct values; there must always be someone that decides which framework and values are best, but there's no absolute and correct way to choose which person or entity has the unquestionable right to assert their brand of ethics on everyone. Sadly, this means that you can even say that a corrupt corporation such as Apple is highly ethical, and you wouldn't be any less right than if you said that they were completely unethical.
Relevance of stock prices to ethics
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By law, Apple had no obligations one way or the other. As Apple wasn't directly employing minors, Apple was completely in the clear. Apple wouldn't be in any more legal trouble for buying parts from suppliers that employ minors than you would for buying an iPhone that contained the parts made by minors. If making decisions based on law, Apple would likely not take any action in enforcing the workforce age laws.
However, if making decisions based on ethics, Apple has several opposing viewpoints to consider. What are the ethical benefits in letting the laws slide? What benefits are achieved by attempting to enforce the laws? What do the stakeholders (including shareholders, customers, employees, and the general public) have to say? In this case, the decision could be made in either direction. In Apple's case, they decided that enforcing the laws was the correct action.
Ethics has been around for a long time. Merriam-Webster defines ethics as rules of behavior based on ideas about what is morally good and bad. It is an area of study that deals with ideas about what is good and bad behavior. Ethics has much to do with feelings and beliefs. If you feel deep down in your heart that something is not right, then it you should not do it. The Bible says, “So whoever knows the right thing to do and fails to do it, for him it is sin” (James 4:17 English Standard Version). Ethical business procedures include guaranteeing that the main legality is in place. Also, the company observes moral standards in its relationships with the people in its business community, which includes the most important people in their business, who are the customers. This report will discuss ethics in business, ethically transformed organizations; organizations preparation to make ethical decisions, ethical danger signs, and organizations that does business globally.
First, it is important to define ethics and how its components play an extensive role in our society. The term ethics is defined as “Moral principles that govern a person 's behaviour or the conducting of an activity.” (Oxford); ethical decisions are the ones that per se determine whether or not murder is wrong. Likewise, ethics consists of different ramifications and perspectives from many philosophers. Moreover,
Organizations that behave ethically are more apt to earn the trust of their customers, employees, and stockholders. Then there are companies that hide the true value of the company from possible investors, customers, employees, and the public at large showing a lack of ethically behavior. This does not all the time included just one company, but a group effort to hide, steal, and mislead everyone for personnel gains. Everyone that deals with any organization expects the upmost ethically behavior on all levels.
This significance of this decision is explained by the fact that the true problem lies ahead and will thus be affected by it. An independent security researcher Graham Cluley points out that “it will be a different technology company having demands made of it - perhaps a company which doesn't have as much of a backbone (or the legal funds) that Apple did." He expresses his concerns that in the future the FBI will encounter a situation in which they are not able to get what they want and will consequently drive software engineers to go against their ethical standards and perform tasks that would jeopardize the privacy and security of millions [8]. Apple’s insistence on privacy has protected smaller companies that might not have the finances
Apple is one of the most valuable brands in the world. The company has strong brand loyalty, impressive revenue growth and superior innovations in technology. There are many aspects of the company that contribute to Apples success. One of the most important aspects is the company’s ethical decision making. Apple has a strong ethical code of conduct that represents the company as being ethical in all decisions being made. Despite Apples positive representation, the company has been faced with many ethical issues. Apple has been involved in many litigations ranging from a domain name dispute and patent infringement, to the use of refurbished products in their repairs. These unethical acts are risky for the company and can affect the company in negative ways. Another aspect that can affect the company is their competitiveness in the technology industry. This industry has many competitors that Apple has to compete with. However, Apple has been overly aggressive in protecting their property rights.
In the business world companies will run into times that they have to make decision based on ethics. This outcome may not be illegal, but unethical, which is just as important when running a business. Business Ethics is the concept of distinguishing between right and wrong and then making the right choice. The right choice may not always be the easiest or best alternative for the organization financially, but it is the greatest option for the company and its shareholders overall. The idea of business ethics is important to create trust between consumers, the community, and others involved with a given organization.
Ethics are principles of behaviour that distinguish between right and wrong. Resnik (2011) defines ethics as” a method, procedure, or perspective for deciding how to act and for analysing complex problems and issues” (p.1). People face ethical decisions; however, People working in business frequently face ethical decisions. Business ethics is the evaluation of business activities and behaviour as right or wrong (Society for Business Ethics, 1991).
When an organization is not ethical, this will be seen through their work, employees, etc. A customer will lose confidence in a company quickly if they realize ethics are not a main priority for that particular business. If an organization wants to be in business for the long-run, they will realize their priorities should not be on getting rich quick but on setting standards and maintaining them; by following this rule, customers will continue to roll in, and the company will prosper.
According to the New Oxford American Dictionary, ethics is defined as “moral principles that govern a person’s or group’s behavior.” Therefore, in an ideal world, ethics should play the ultimate role when making a decision. If ethics are the principles which guides one’s behavior then, ideally, all decisions should be made entirely based on ethics. Unfortunately, such is not always the case.
Ethics in the modern world is met with ambiguity and a vague sense of understanding. One group may define as ³what my feelings tell me is right wrong´ while others may describe ethics as the ³standards of behavior our society accepts´ (Velasquezet al, 1987). These answers may be typical of many people in the world today. Ethics are not ubiquitous because they stem from the realm of moral grounds and morals are not globally accepted nor understood. Ethical standards are more prevalent in the United States than in other countries, due in part to government as well as non-government agencies that have been established to monitor and advise on issue related to ethics in business, education, etc.
(Panza & Potthast, n.d.) Ethics is very important to a company’s success. Ethical behavior can bring benefits to a business. They can attract customers, which can lead to a boost in sales and profits. It can attract the right employees and increase productivity. It can also attract investors and keep the company’s share price high. Unethical behavior on the other hand can damage a company’s reputation and make it less appealing to stakeholders. It could also result in lower profits.
Ethics is defined as what is right and what is wrong. Every business should behave ethically. The moral principles that guide the way a business behaves are business Ethics. Ethics are moral guidelines to people or to an organisation which govern good behaviour. So behaving ethically is doing what is morally right. Doing an ethical business may always be not profitable but it will be more beneficial to company and the people involved in company as well as the people who are getting influenced by the company. If a company is acting ethically then it is trying to differentiate between right and wrong and then chose the right decision for everyone. It is very easy it identify any unethical
Since the study of ethics is all about what is right and what is wrong, it is not possible to come to a correct conclusion unless one is directly appointed by God to make this conclusion. God is the only One who can correctly decree what is ethical and unethical; we as imperfect humans should not even attempt to do this job.
Apple established its code of ethics to ensure that all suppliers followed the same standard. The company now reviews its system regular to maintain clearness and answerability in their business practices and accomplished international standards. The code of ethics is a
Companies such as Apple, Dell, HP, IBM, and Sony outsource labor and hardware manufacturing to a company called Foxconn Technology Group. Foxconn Technology Group is a multinational business anchored in Shenzhen, China. Some of the typical hardware being manufactured are, motherboards, chipsets, smartphones, tablets, and laptops. The majority of the factories are in China, three in Europe, one in India, and four in Mexico. Currently there are contracts to expand and build a new factory in Brazil. I believe that there are many ethical problems related to this example; first, the general idea of outsourcing mass amounts of labor, and secondly the mistreatment of