Essay on Different Viewpoints of Business Ethics

Shaw, W.H. (2014). Business ethics: A Textbook with cases, (8th ed.). Boston, MA : Cengage.

The author Robert Solomon argues that ethics has to an integral part with regard to business management. He does not believe that business management must include unethical or illegal methods to be able to succeed. Solomon preaches that business management is not as simple as obtaining revenue. “Businesses need to abide by fair policies and their owners have to be ethical in dealing with their customers” (Shaw p. 37). The author acknowledges that while illegal practices in business management could bring positive results at first, eventually the business is bound to fail. This is why Solomon recommended eight important policies that can help businesses in integrating ethics into their operations.

Business ethics and values have developed through time and crosswise over orders into a field, which is a standout amongst the most vital subjects in the field of business. For the authentic improvement of business morals, it is vital, to begin with, a meaning of business ethics and values in a worldwide setting (Savage, 2005). The study characterize business ethics and values from an administrative viewpoint as choices about what is correct or wrong (worthy or unsuitable) in the authoritative setting of arranging and actualizing business exercises in a worldwide business condition to profit (Child, 2015). The development

Ferrell, O.C., Fraedrich, J., & Ferrell, L. (2015). Business ethics: Ethical decision making and cases (10th ed.). Mason, OH: Cengage.

This will be an over view of ethics as it relates to business in our society. Concepts from Philosophy will seek to describe the correlation between actions that are classified as morally right or ethical in our dealings with each other as human beings. Clear and concise examples will be given as well as ways in which to improve upon business ethics.

Ferrell, O. C., Fraedrich, J., & Ferrell, L. (2013). Business ethics: Ethical decision making and cases [9th edition]. Mason, OH: Cengage Learning. Retrieved from

     In business ethics there are several different types of ethical behavior that exist. Although there are many different kinds of ethical behavior, three are the most prevalent within society; these are utilitarianism, deontology, and virtue ethics.

Business and ethics are often considered as opposite ends of a magnet, one in the means of seeking profit and other with the common assumption of refraining from profit maximization; so the question become is business ethics really an oxymoron? The usual perception of business ethics is very poor and pessimistic as many corporate executives say one thing yet do another. Although the maximization of self-interest and profit seeking is what drives the economy forward, but how should one’s actions be justified, is it ok to do as you wish as long as the law permits? Business managers along with other professionals have sets of ethical codes laid out and are to be followed. There is the bar set in place to monitor the practices of each

Ferrell, O.C., Fraedrich, J., & Ferrell, L. (2013). Business ethics: Ethical decision making and cases. [9th edition]. Mason, OH: Cengage Learning. Retrieved from

The first point of comparison in the three essays is the position of Drucker and Friedman with respect to the invalidity of the concept of business ethics. Their main argument against the notion of business ethics is that by engaging in acts of so-called social responsibility, a business manager actually assumes public roles or a legislative function because he or she places costs on the stakeholders, customers, or employees to apply the proceeds in a field of socially responsible causes. Friedman (1970) states this fact in the following words:

The answer to the questions of Why does a business exist? and What purposes does/should it serve within society? are not agreed upon by all. The concept that companies having social obligations beyond their economic benefit is controversial (Chandler & Werther Jr., 2014). This paper will briefly examine the viewpoint of the well-known economist, Milton Friedman, whose assertions have been very influential in the debate surrounding corporate social responsibility (CSR). Arguments, both in support of, and against Friedman’s assertions, will be presented along with examples of two organizations having contrasting attitudes regarding CSR. Lastly, the paper will examine three organizations whose literal adherence to Friedman’s view has led to the rationalization of unethical behaviors.

The first two journal articles that were compared and contrasted were Ala Alahmad’s 2010 article on To Be Ethical or Not to Be: An International Code of Ethics for Leadership and Patrick Murphy’s 2009 article on The Relevance of Responsibility to Ethical Business Decisions. Some key findings of Alahmad’s writings were that ethics and leadership were closely tied together; they were found to be derivatives of one another. He mentioned that ethics is an individual thought process of making good or poor decisions. Alahmad described an international code of leadership that was heavily veiled with great moral fibers. Some notable characters of his code included honesty, respect, punctuality, humbleness, and great dignity. However, in

The argument of whether or not “values”, ethics, and social responsibility should be included in the business world is a fiercely debated subject. Some are completely against including ethics within the business sphere and that in order to stay competitive, a company should do whatever it takes to survive in the dog eat dog world. The proponents of keeping ethics separate from business would claim that going for profit in perfectly competitive markets will work so that society will be served in a way that benefits the most. Milton Friedman would argue that the only social responsibility that a business should have is to increase its profits. Others argue that some system of values need to be included in the world of commerce, especially in the wake of huge financial scandals such as Enron and claims of inhumane factory conditions and child labor in third-world countries by major multi-national enterprises such as Nike and GAP. By focusing solely on shareholders and increasing profits, businesses may start out with small unethical actions that gradually grow larger and larger as they slide down the slippery slope of deceit. Ethics should not be treated as a side note to be considered after generating profits, but integrated into the foundation and basis of business. The question that needs to be addressed is which values need to be incorporated into the foundation and goal of actions and decisions. The values selected need to be chosen not because “we thought they

Ethics is usually found in almost all aspects of human activity, and people are typically concerned about the quality of behavior they portray to those around them. Ethics has been an essential part of the economic environment in this century. At present, pressure groups and consumers seem to be in the front line in demanding that organizations seek more ethical as well as ecologically sounder ways of conducting business. The media also seems to be playing an essential role in highlighting corporate malpractices and abuses. Even organizations have realized that, being ethical may be good for their business. Based on these, ethics has become an integrated part of the contemporary business environment.

One of the main objectives of any business organization includes making profits and enhancing the economic growth (Davis, 2012). Most businesses aim at discharging their economic and legal responsibilities. It is because for a business to continue as going concern, the business have to obey the law and be profitable. However, being ethically and philanthropically responsible can also affect the businesses apart from economic and legal factors.