Ethics vs. Capitalism

When discussing ethics, the word that comes to mid first is business. In society, the economy is the spine and each ridge supports the people. “The economy needs ethics in order to function correctly- not any ethics whatsoever, but an ethics which is people centered” (Benedict 12). These ethics adapt the certain responsibilities owed from companies. These ethics could deal with pollution, wage or production. An ethical case in business could be creating less green house gasses at a flower farm. There is an underlying unspoken code of morality. In a society that has a just common good, the inviolable dignity of the human person and the transcendent value of natural normal norms must be primary

Most people assume that the term ethics refers to the business as a whole. Business ethics apply to the individuals working within businesses. Each individual's action within the company affects the entire company, not just the individual. When any person associated with a business acts ethically and responsibly, it helps the entire organization.

What is business ethics? In my own opinion, the business ethics is the company formulate the "proper" policies and stipulations to face the different kinds of issue, such as the change of society demand, the variation of government rules, or the financial crisis, maintaining everyone's rights and interest in the company. My decision is a neutral idea, although the shareholders, retirees, employees' interest would be harmed in the crisis, but average the damage

Capitalism is often thought of as an economic system in which private actors own and

The history of business ethics goes all the way back to the 1960s. In the 60s, there was social unrest. Employers did not show loyalty to the employees and values were cast aside (Bethel, 2016). There were environmental issues, along with drug use and tension between the employee and employer. At that time companies began to establish codes of conduct. This is when companies created values and responsibilities which would be the company’s most important objective. The 70s saw some development of business ethics. This decade, in the beginning, had escalated rates of unemployment, the company suffered through a recession as well as human rights issues. There were forced labors and the wages did not amount to much. By the end of the 1970s, the

A business must operate with ethics as a guiding principle to be successful and profitable. A company that is publically traded bears a responsibility of being a good steward of the profits the company earns, for the stakeholders, employees, and clients. The social aspect of a company and ethics go hand-in-hand. If a business fails to act ethically responsible, the result of that behavior can affect it socially. “The concept of social responsibility proposes that a private corporation has responsibilities to society that extend beyond making a profit” (Wheelen & Hunger, 2010, pg. 72).

Virtue ethics is one of three dominant methods in normative ethics (deontology and consequentialism). These three approaches are distinguished by the way that an ethical situation/scenario is approached, not on the inferences made. Ethics refers to the moral values that directs an individual’s behaviour. Virtues ethics underlines the role of the character and virtues that one embodies whilst deciphering ethical behaviour. For example a scenario where it is evident that a person is in need of help, a virtue ethicist would state that by helping one would be altruistic and benevolent. Virtue ethics highlights on the agent not the actions, it expresses that morality is derived from the character or ‘morals’, as

The business ethics refers to the ethics of enterprise operation. Not only for the enterprises, all organizations related to business are supposed to have ethical issues. As long as the groups of people are having business activities,there are always exist ethical issues in essence(Drucker,1981,pp66). A moral enterprise should pay attention to the human nature,avoid conflict and friction with the society,actively take the behavior beneficial to society. The concept of business ethics is emerged in the United States in the 70s, Japanese have also started the research on enterprise ethics issues in recent years. Some people

From my point of view and experience, business can have its own rule to a certain level, but not completely ignoring moral ethics. True, business is a competition, but I would prefer to do it in a right way, but one can say what is the right way. From personal experience, I have seen executives setting rules they want their employees to strictly follow (e.g. attendance, dress codes,

Good business ethics is just one of many ingredients necessary for a successful business. You cannot have a successful business if you take advantage of stakeholders that support and have a vested interest in your business. History has shown time and again that, when the opportunity to grab quick profits presents itself, ethics can all too readily take a back seat to the entrepreneurial spirit. Incidents or abusive behavior, harassment, accounting fraud, conflicts of interest, defective products, and bribery and employee theft can happen at any business. Corporations have a social responsibility, an

When talking about business ethics, we can define ethics in a form of professional principles, morals or problems that arise in a business environment. This applies in all aspects of business for people dealing in organizations on how they base their decisions in a form on what they feel is right or wrong. Having a good understanding on how ethics plays a role in business environment, will allow a person more insight on how their values and behavior oversee business practises. Building a good code of ethics will allow an individual or organization to create trusting relations, a good reputation among society, inclusive to all demographics, especially those seeking employment within the company along with many other advantages.

In today’s world people would have you believe that ethics is a questionable requirement. That ethics is based on perception. Wither we see ethics the same way or not in the business world we should all agree that right is right and wrong is wrong. In business we should all live by a certain standard of fairness that includes an amount of personal morals that prevent you from simply following the crowd. If you want to be a true leader in the business world it requires a certain amount of courage to do what is right regardless of the personal consequences.

The market system relates to the need for ethics in business, due to the fact that the individuals that are pricing and selling goods to individuals that are negotiating with them for the purchase of those goods or services, should ensure that the exchange between these individuals is fair and just. This is distinguished from the law due to the fact that the law makes it mandatory that sellers and buyers conduct business within established legal parameters based around justice and equity. Ethics in business is distinguished from virtue and morality due to the fact that there are different perspectives on what is considered virtuous or moral when ethics can be more universally defined in respect to justice and fairness.

In the latest years the issues of unethical and ethical business practices have become the limelight of the media. Business ethics (also known as corporate ethics) is a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations. In business, ethics applies to any interaction of the business, whether that be from one-on-one with specific customers, or multimillion dollar business deals with other companies. If is quite obvious that the goal of the majority of businesses is to make money, and thus ethics do not concern these businesses, whilst on the other hand there are many businesses that are not-for-profit or rather, are doing the right thing and having commitment and responsibility towards society having a far greater importance.

The survival of an organization depends upon the integration of business codes with the societal ethics. Ethics concentrates on the general nature of morals and the specific moral choice an individual makes in relationship to others. It represents the rules and regulations governing conduct of the member of a profession. The area of focus in this essay is to explore the effects of business ethics.