We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy

The Importance of Business Ethics Essay Sample

essay
The whole doc is available only for registered users OPEN DOC
  • Pages:
  • Word count: 526
  • Category: business

Get Full Essay

Get access to this section to get all help you need with your essay and educational issues.

Get Access

The Importance of Business Ethics Essay Sample

Business ethics can be defined as examining issues from a moral point of view in a professional setting. It concerns questions such as the limits a manager can reach for profit, or the social responsibility of corporations. Business ethics emerged in the 70’s, but spread around the world until the 90’s, as a result of globalization. People became more informed as the access to information spread, thus becoming more aware of the issues, and demanding a more ethical behavior from corporations. Different cultures have different views on what is right and what is wrong. For this reason it is hard to find universal values, which makes business ethics more abstract; even more when the playing field is the whole world, due to globalization. From a moral point of view, ethics in this environment in extremely important and necessary. However, it is used as a technique for leadership, marketing, and good public relations; rather than as a way of practicing virtue ethics.

The importance of business ethics in our society shows a stimulus-response behavior from those who are in charge. The market is who decides the set of values and guiding principles which must be followed. Clients are encouraged by this behavior, which leads to a win-win situation. It might not be for the right reasons, but at the end it can have a positive impact of people’s lives. Otherwise, a business can end up with a bad reputation, alienating employees, suppliers, and even the community. As a result, a business can be ruined by not following the norms that society imposes.

A good example of a company damaged by bad reputation is Phillip Morris, which was heavily criticized due to it’s advertisement of cigarettes. Due to this criticism, the company had to change its name to Altira Group; and had to move most of their advertisement to third world & developing countries, where smoking is not as frown upon by their cultures, and there are no regulations when it comes to tobacco ads. This clearly shows how different ethics can be in different cultures, and the fact that most companies act for their own benefit rather than society’s, and follows ethical norms just when its necessary. Altira Group is one of the biggest lobbyists in the United States. This proves how the company tries to alter the law to make smoking more acceptable, rather than compromising with the consensus of society.

In Conclusion, it is safe to say that more businesses are ethical, and we should not condemn all corporations by the action of a few. A more important issue is the different interpretations of what is right and wrong due to cultural, societal, and personal standards. There is no way a business can please everyone. However, there is no intrinsic reason why a business should operate ethically. At the end it’s the invisible hand that should decide how ethical a corporation is; and which corporation will succeed due to this. At the end of the day, a business is just as ethical as the people behind it, and corporations are not moral agents; nor should they be expected to be.

We can write a custom essay

According to Your Specific Requirements

Order an essay

You May Also Find These Documents Helpful

A Business Plan for an It Start-Up

The company is an ITES startup that makes apps and websites for third party. The business aims at targeting the lesser exploited markets of grocery stores, schools and medical stores. For doing the on-ground marketing of our services, we have planned to hire a salesman. We’ll train him well and make him enough knowledgeable about our business so that he can give us our potential...

Ethical and Legal Issues Revolving

A civil action film is a based on true life experiences that revolve around the good scenarios and issues that are bound to be tried by legal bodies. It is based on the true stories that were taking part in the year 1980s when the environmental pollution took place and better parts of Woburn. There was the ethical issue revolving around the film as there...

Business Ethics - International Trade Administration

As experts in business ethics, your expertise can be used to help breakdown a situation good or bad. In situations we can come in and erase the bad and replace with good or simple reinforce the good that is being done. In this case, we will be doing a lot of erasing for many reasons. This branch of the bank was not doing what it...

Wace Group’s To Scaling A Business

M&S was highly specific about the quality of paper, size of paper, cuts as well as delivery schedule. Though quality standards and technical skills were forte of Wace Group, yet some of the major changes that the company had to accompany in its order schedule, capacity schedule and delivery schedule. Most importantly were of important concern which on one hand can pose risks to the...

Business Accounting and Assurance Coursework

The conceptual framework has been defined as ‘a coherent system of interrelated objectives and fundamentals that is expected to lead to consistent standards.’ (FASB 1978) Answer the following questions in relation to the International Accounting Standards Board’s Conceptual Framework, 2010. Q1. What is meant by general purpose financial reporting and how does it differ from special purpose financial reporting?​The financial report implies noticing down the monetary exercise...

Get Access To The Full Essay
icon
300+
Materials Daily
icon
100,000+ Subjects
2000+ Topics
icon
Free Plagiarism
Checker
icon
All Materials
are Cataloged Well

Sorry, but copying text is forbidden on this website. If you need this or any other sample, we can send it to you via email.

By clicking "SEND", you agree to our terms of service and privacy policy. We'll occasionally send you account related and promo emails.

Your Answer Is Very Helpful For Us
Thank You A Lot!

logo

Emma Taylor

online

Hi there!
Would you like to get such a paper?
How about getting a customized one?