Business ethics: A BIBLIOGRAPHY Business ethics generally refers to the ethical code of conduct for corporate managers in companies that deal with individuals. In business, it generally refers to guidelines and principles conforming to an established set of ethical rules known as The Business Ethic. The importance of business ethics can hardly be overstated.
The term “ethicists” was first used by Henry Ford as he sought ways to improve the quality of the products produced by his company. Later, it came to include a more general term “business ethicists”. Today, business ethicists are important to businesses large and small. Their main function is to ensure that the goals and plans of a business are aligned with the desired outcomes of the owners, employees, suppliers, and customers. In other words, business ethicists are charged with providing the driving force for the organizational goals and objectives.
Business ethicists differ on several issues. For example, some business ethicists believe that managers should use their corporate time to solve problems and not just concentrate on the production capacity of a firm. They also believe that managers should value the individuality of a person above everything else and hold managers accountable for their actions (aside from terminating them). On the other hand, other business ethicists believe that employees deserve at least some control over decision making. Still, most business ethicists believe that managers should rely on the employees and their interests to guide them.
A strong part of business ethics is concern for the values of the individuals who make up the organization. The concept of business ethics is related to traditional moral theories. For example, those who believe in traditional moral theories believe that it is wrong to behave badly, whereas those who support newer moral theories believe it is okay to behave badly if such behavior will benefit others. Business ethicists who support older moral theories believe that managers should not depend on their own sense of morality but rely on what is best for the company.
Business ethics can be described as the way managers handle situations that involve people who have conflicting interests. They also include the way managers handle conflict among co-workers. This is because one person’s interest may conflict with another person’s interest or it might cause someone to be unjustly treated. In business, therefore, the right thing to do is to find a way to work out conflicts in the best possible way.
Some business ethicists argue that managers and employees have an interest in working together. They say that people like being treated fairly and they also like a feeling of belonging. Therefore, they argue, both managers and employees have a reason to work together. One of the challenges faced by many managers is getting employees to work together to find the right ethical solutions to business problems.
How does a manager go about this? A good manager will ask some questions of employees. They will consider the possible conflicts, ask staff to make statements on behalf of the company and get them to explain what they think the company needs to do to solve the problem. Then, the manager will review the statements and listen to responses. If all the answers match up, the case discussion is ready to begin. Again, in business, the goal is not only finding the right solution, but doing the right thing.
On the other hand, a manager might consider using some other method for getting past some of these conflicts. For example, the manager might use a case study to stimulate good ethical decisions. A good society review, on the other hand, might show how an alternative course of action would have been less costly or more productive. Both of these alternatives could lead managers to take some different actions in business that help the company meet its ethical obligations.