Business Ethics can be defined as the critical and structured examination of how people & institutions should behave in the commerce world. Furthermore, it particularises the involvement of examining appropriate limitations upon the pursuit of complete self-interest; however, this may also apply for firm profits when the actions of each individual or firm affects others in some form. If the business really has no ethics, it can be concluded that the environment will suffer since the intention of business growth is far greater than environmental responsibility.
Straight on, business has a predicament either to maximise profits for shareholders or to have a moral …show more content…
Other utilitarian’s argue that the advantages of globalisation are outweighed by the disadvantages to welfare or to human happiness. Utilitarian environmentalists note such aspects as deforestation and the destruction of environmental diversity resulting from the mass production of cheap food in the developing economies for the developed world. Economically, would seem to be a good ethical approach. However, it isn’t as simple or clear cut as that. E.g. closing a polluting factory may be good for the environment but bad for the local community who will lose jobs. Whatever the business does is going to upset one group of people or another. Utilitarianism doesn’t always help here.
Another ethical theory is Virtue ethics which focusses on how to be good person and not let the environment suffer. It considers that business can’t be separated from society – business is part of the overall community. In business an individual cannot be ethical in a vacuum, but always as part of the ethical community. So a follower of Virtue Ethics would hope to show the characteristics of an environmentally good person and in business those of a good citizen so as to make for a harmonious society. This applies to the employers and employees who must show the virtues of character such as honesty, prudence, fairness and courage. If there is conflict between virtues such as honesty and loyalty, you should use your reason to find the most virtuous thing. Aristotle