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Ethical Behaviour And Social Responsibility Essay

Ethics and Social Responsibility Essay

1738 Words7 Pages

INTRODUCTION
Ethics is concerned with the study of morality and the application of reason to elucidate specific rules and principles that determine right and wrong for a given situation (Crane & Matten, 2010). Since law does not necessarily cover the morality of many controversial issues, moral reflection ought to be performed on any action, regardless of its lawfulness. The growing power of business in today’s society has enabled businesses to significantly impact the world. Hence, business ethics is highly relevant as it could determine whether businesses contribute or cause harm to the society at large.
Using ethical theories to guide moral reflection, business ethics can help businesses avoid scandalous conduct that could harm the…show more content…

INTRODUCTION
Ethics is concerned with the study of morality and the application of reason to elucidate specific rules and principles that determine right and wrong for a given situation (Crane & Matten, 2010). Since law does not necessarily cover the morality of many controversial issues, moral reflection ought to be performed on any action, regardless of its lawfulness. The growing power of business in today’s society has enabled businesses to significantly impact the world. Hence, business ethics is highly relevant as it could determine whether businesses contribute or cause harm to the society at large.
Using ethical theories to guide moral reflection, business ethics can help businesses avoid scandalous conduct that could harm the society.

UTILITARIANISM
Utilitarianism places high emphasis on the consequences and outcomes of one’s action. It is premised on the general principle that an action is right and ought to be performed insofar as it leads to overall happiness or benefits, as opposed to pains or costs (Chan & Shenoy, 2010). However, many businesses have a sole objective of maximizing its profits and shareholder value. While focusing on the interest of its internal stakeholders, the interest of its external stakeholders is often neglected.
The subprime mortgage crisis of 2007 highlights how financial institutes acted out of their self-interests and neglected the consequences of their actions on the community and society at large. Investors pursued after higher

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Introduction To Management
Sharon Toney
SUNY Empire State College Ethical Behavior

In this chapter we look at the ethical behavior when it comes to business management. Ethics is defined as the code of moral principles that sets standards of good or bad, or right or wrong, in one’s conduct. You learn how ethical dilemmas complicate the workplace and how high ethical standards can be maintained. Social responsibilities and governance plays a part in ethical behavior as well. Ethical behavior is that which is accepted as “good” or “right” as opposed to “bad” or “wrong”. For the reason an action is not illegal does not necessarily make it ethical in a given situation. Values vary, so that brings up…show more content…

Ethical mangers can have a positive impact on other people at work and on the social good performed by people. An ethical dilemma occurs when someone must decide whether to pursue a course of action that although offering the potential for personal or organization benefit or both, may be unethical. Mangers report that their ethical dilemmas often involve conflicts with supervisors, customers, and subordinates over such matters as dishonesty in advertising and communication, as well as pressure from bosses to do unethical things. Common rationalizations for unethical behavior include believing the behavior is not illegal. It is in everyone’s best interest, will never be noticed, or will be supported by the organization. Ethics training can help people better deal with ethical dilemmas in the workplace. Whistleblowers expose the unethical acts of others in organizations, even while facing career risks for doing so. Top management sets an ethical tone for the organization as a whole, while all mangers are responsible for acting as positive models of ethical behavior. Written codes of ethical conduct formally state what an organization expects of its employees regarding ethical behavior at work. Amoral managers disregard the ethics of their actions or decisions. Immoral managers intentionally choose to behave unethically. Moral managers consider ethical behavior a personal