Business Ethics

14 Pages 3382 Words

ople come together and start 'behaving', likewise, business life becomes exactly the same and that's when morals come into effect, and when businesses decide on implicit or explicit !
ways to achieve certain goals and then are agreed on. Businesses in general are working on the basis of an ethics that settles different interests. The standards and values within companies can be characterized as mutual respect. In this respect it is in everyone's interest, and is considering people as an end in themselves, not as a means, reciprocity and fairness. This ethics is passed down and filtered to a group of stakeholders who have an interest in the company. These parties usually are: personnel, customers, suppliers, subcontractors, shareholders, society and those who speak on behalf of the environment and future generations Many ethicists say there's always a right thing to do based on moral principle, and others believe the right thing to do depends on the situation, ultimately it's up to the individual on what they do and on what they believe to be the "right" thing is. Sometimes the "right" thing is not necessarily the best thing to do. Many philosophers consider ethics to be the "science of conduct." Twin Cities consultants Doug Wallace and John Pekel (of the Twin Cities-based Fulcrum Group) explain that "ethics includes the fundamental ground rules by which we live our lives". Many professionals in ethics say that new ethical beliefs are "state of the art" legal matters, and that what becomes an ethical issue of today is then later made into a law. Values that say how we should behave are said to be moral values, values such as respect, honesty, fairness, responsibility, etc. Statements about how these values should be implemented are sometimes called moral or ethical principles. The concept of business ethics has been seen to mean various things to different people, but usually it is about knowing what is right or wrong in the workplace a...