Ethics in Business Essay Example

5MAJOR ETHICAL CHALLENGES

Identifying the Major Ethical Challenges in a Business Environment

Identifying the Major Ethical Challenges in a Business Environment

Introduction

Ethics is also referred to as moral philosophy. It is defined as a set of philosophical beliefs which are systematic in recommending the concepts of what is right wrong in relation to behavior. In philosophy, the idea behind ethics is to facilitate the studying of moral behavior as well as how that behavior influences relationships between individuals. Researchers have sub-divided ethics into four main subjects of study. These subjects include (Jennings, 2011):

  • Meta-ethics. Meta-ethics is about theoretical references and meanings of moral propositions. It also involves the understanding of how such truth values are determined.

  • Applied ethics. This involved the moral outcomes which can be achieved with regard to specified situations

  • Normative ethics. This subject involves the practical meanings of determining moral courses of action.

  • Descriptive ethics. This subject involves comparative ethics. It involves the study of individuals’ beliefs with regard to morality.

Studies have indicated that the goal of ethics is to resolve the questions which deal with morality in the society. It is for this reason that it lays significant emphasis on the concepts of good and evil, virtue and ice, as well as right and wrong.

Ethics in Business

The term business ethics refer to the form of professional or applied ethics that assesses ethical principles as well as ethical and moral problems which are raised within the business environment. The subject applies to the aspects of conduct in business, as well as the relevant conduct that individuals ought to adapt while engaging with their activities in organizations. Business ethics is composed of both descriptive and normative dimensions (Henn, 2009).

Researchers attempt to comprehend business behavior by employing descriptive methodologies. Ethics regulates the details as well as the areas of behavior that lies beyond the control of country’s legal structure. The rise of large corporations, especially those with limited sensitivity and relationships with communities around them ought to formulate and practice mutually beneficial ethics regimes (Ferrell, 2011). This paper proposes a research which is aimed at identifying the major ethical challenges experienced within a business environment. The proposed research will also evaluate how the structure of ethical guidelines can either facilitate or derail the achievement of the organization’s strategic objectives.

In order to meet those exploratory goals, the research will be structured in a manner that appraises the situation within organizational settings with precision. The study will commence with responding to a set of research questions. The ultimate goal is to understand the challenges faced by the stakeholders in business, as well as how they can navigate around these challenges until they achieve their strategic goals and objectives. Below is the list of the proposed research questions.

  1. What is ethics?

  2. What is business ethics?

  3. How do ethics affect work environments?

  4. How is does the stakeholders create an ethical working environment?

  5. Give some examples of how ethics influence operations in business organizations.

This paper proposes three sources which are considered to be informative enough to meet the exploratory goals. The sources are as listed below:

References

Ferrell, O.C., Fraedrich, J. & Ferrell, L. (2011). Business Ethics: Ethical Decision Making and Cases. Belmont, CA: Cengage Learning

Henn, S.K. (2009). Business Ethics: A Case Study Approach. Hoboken, New Jersey: John Wiley & Sons

Jennings, M.M. (2011). Business Ethics: Case Studies and Selected Reading: Case Studies and Selected Readings. Belmont, CA: Cengage Learning

Reasons for Choosing these Resources

Business Ethics: A Case Study Approach

This text explicates the means of building responsible and ethical regulations. It was selected since it confronts the real fact behind business ethics, especially as it exists at the present.

The author answers the questions of ethics candidly and insightfully. He does this from all angles of ethical lapses. He also examines the dogmas and old mindsets relating to business ethics so as to reveal how they influence the working environment within an organization.

Business Ethics: Ethical Decision Making and Cases

This text covers the complex working environment thoroughly. It does, therefore, address the process of making ethical decisions during the time organizations are navigating through challenges. It employs a managerial framework which has been proven throughout the history of organizations.

Business Ethics: Case Studies and Selected Reading: Case Studies and Selected Readings

This text incorporates several real-life examples where business decisions have ruined organizations, especially when the managers disregard ethics. It explores several complex issues relating to business ethics with the leaders in perspective.