Ethics and compliance program, corporate citizenship and responsibility, culture of ethics, governance, leadership, innovation and reputation are the scoring and methodology system put in place by Ethisphere; “the global leader in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust, and business success.” (Ethisphere) These are the building blocks of any company, but what makes an ethical company stand out to be awarded such a title is how they successfully implement morality and success into their business. Companies in the 2014 winners consist of 3M, GE, Kellogg, Dell, and the Eastman Chemical Company, thus proving that being moral can still give you a competitive advantage. Business is a game of survival, but how you choose to survive proves your moral compass. Alan Malachowski explains and supports this notion in his article “Focus: Ethics in Competition.” Malachowski contends there are three key moral issues “which are obscured by evolutionary models of business” (Malachowski); the nature of business, special moral responsibilities, and moral character. Scientifically, business should evolve naturally; as per Charles Darwin’s theory of evolution a key to survival is adaptation. How you choose to adapt to compete in todays cutthroat concrete jungles says more about you than the business of which you are employed. Business must view morality as a strategy, not a means to an end. Moral fiber is intrinsic; business on the other hand is not. What makes a business or company what it is, where it begins and where it ends has more to do with those who work there/for it. Employees are the veins that pump blood throughout the body of a business. It would be foolish to say that every human shares the same mentality as Mother Theresa but there are genuine hardworking people out there that get tarnished and ruined by corporations. If a business is built of only cinderblocks and lies an upstanding citizen will get lost in the mix. A business must incorporate the goodwill of humankind into it, not the idea of money and power. A company with good ethical practices, one that stays out of the news for “scandal” and cheating already has a competitive edge. To continue to build on that character only makes them stronger. Moral responsibility is not a luxury but a building block. All of the metaphors (“it’s a dog-eat-dog situation” and “it’s a jungle out there”) are fogging up this fact. “The metaphors of unavoidable struggle blind us all to legitimate fine-grained questions concerning which moral responsibilities business ought to shoulder.” (Malachowski) Malachowski is sound in his argument that businesses have created these conditions in which we are all fighting to win. Business’ moral responsibilities are to be fair to their stakeholders, consumers, employees, environment, and more. A Kantanian approach (as per Immanuel Kant) to business ethics is something that all businesses should consider. Kant believed that one must treat humanity in a person as an end, not as a means merely; “A business relationship requires two things. First, it requires that people in a business relationship not be used, i.e. they not be coerced or deceived. Second, It means that business organizations and business practices should be arranged so that they contribute to the development of human rational and moral capacities, rather than inhibit the development of…
Introduction to Business Ethics and Social Responsibility chapter 1
What is business ethics?
What is social responsibility?
Ethics versus the law
the collection of private, commercially oriented organization, ranging in size from one person proprietorship, to corporate giants such as Nortel coca cola, pepsi etc.
A community, a nation or a broad grouping of people having common traditions, value, institutions, and collective activities and interests…
2010). Business ethics and social responsibility problems which are caused by the global financial crisis prompted the launch of the MBA oath. The MBA oat includes being against unfair commercial competition behavior, improving personal values, ensuring enterprises′ reports accurate and honest, and establishing the sustainable development and the prosperity of inclusiveness. The purpose is to lead people and manage resources in order to create values for society (Anderson, 2009).
Business ethics is a very broad term and widely used throughout the world. The term “business ethics” first started to be used in the United States in the early 1970’s as businesses were growing bigger and more powerful. Business ethics are guidelines or behaviors that businesses and individuals use daily to deal with world situations they might find themselves in. Race, gender, age and religion all play a role in business ethics. The most important factor in a person’s…
How Can Ethics Play an Important Role in Cost and Price Analysis?
LaKisha K. Collins-Mitchell
Salesmanship/ MRKT 350
July 14, 2013
Professor Aimee McKinney
How can ethics play an important role in cost and price analysis? How can you make sure that what you are doing is ethical? “Business ethics compromise principles and standards that guide behavior in the world of business” (Manning, Ahearne, & Reece, 2012). A company will have a better success rate, if every employee practices…
HEADER: BUSINESS ETHICS
PHI 208: Ethics and Moral Reasoning
Instructor John Ludes
June 16, 2014
BUSINESS ETHICS 2
In this paper we will be discussing how businesses and management should and do show superior business ethics in doing what is right for the company as well as the employees. The reason for there to be business ethics, is to choose and know what is right and what is wrong in the business and with…
by the Statement of Ethics
Associates and Directors – This Statement of Ethics applies to all associates worldwide, and all members of the board of directors of Walmart Stores, Inc. It also applies to the associates and directors of all Walmart-controlled subsidiaries.
Third Parties – Walmart expects its suppliers, consultants, law firms, public relations firms, contractors, and other service providers to act ethically and in a manner consistent with this Statement of Ethics. If you hire a service…
Business Ethics Reflection
Values are the rules by which we make decisions about right and wrong, should or shouldn’t, good and bad. They also tell us which are more or less important, which is useful when we have to trade off meeting one value over another. (http://changingminds.org/explanations/values/values_morals_ethics.htm)
Ethics are what we strongly believe in and will defend or will not compromise. Ethics are rules that…
The purpose of this paper is to explain and define the role of ethics and social responsibility in developing a strategic plan while considering stakeholder needs and agendas. This paper will include an example of a corporation overstepping ethical boundaries for stakeholder agendas and what type of preventative measures were used to avoid to the situation.
“It is said a corporation has no morality, but a corporation with conscience men is a corporation with a conscience-Henry David…
Business Ethics is the application of ethical behaviour in a business context. In deals with internal values that are part of corporate culture and shapes decisions and actions concerning social responsibilities. If I’m a president of a large company, in order for my employees to follow the conducts of business in an ethical manner, I will implement rules and policies for the following; quality of the products, reasonable prices, equal opportunity for employees, and customer’s satisfaction…
This essay is to generally discuss how ethical theories provide guides in valuing human being’s behaviours to be ethically good or bad. We also have a look in different ethical theories to see why they are incompatible. The ethical theories include Utilitarianism, Kantian moral theory, virtue ethics and rights theory. Drawing on two of the theories, we will outline their positions and critically discuss the claim in a business situation…