Business Ethics

14 Pages 3382 Words

Contents


1. Introduction

2. What is Business Ethics?

3. The 10 Benefits of Business Ethics

4. Case Study on Nestlé

4.1. The Impact of Business Ethics on Nestlé

4.2. Nestlé’s view on Business Ethics

4.3. The Implications of Business Ethics on Stakeholders

5. Conclusion


Introduction

Every business has the power through their ability to spend vast amounts of money. They have the ability to change or enhance situations in which many common individual does not. As organizations may affect some people, they have obligations to their employees, consumers, community and the outside world. They have the responsibility to manage or control the business in a way that it won’t harm and in which, positively benefits as many people as possible and themselves. This sounds simple, it is "easier said than done!" as there will always be a conflict of interest between various groups of people. Any decisions made by businesses need to be made with an informed awareness of the specific situation and then act according to some sort of system of principals, which is Business Ethics.

What is Business Ethics?

Business ethics is exactly the same as normal ethics, and that knowing what is right or wrong, and learning what is right and what is wrong in a business environment. Then doing the right thing, but "the right thing" is not as straightforward as explained in many business ethics books. Most ethical dilemmas in the workplace are not simply a matter of "Should she steal from him?" or "Should he lie to his boss?" Businesses cannot function without ethics, why? Society dictates a set of rules and conformities and seeing as all businesses strive after common goals it means that these goals can only be achieved on the basis of standards, values and morals in society. It can be assumed that business life has to be called 'moral' as well. As in society, standards and values are spontaneously formed once pe...