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Business Ethics: Study Guide

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Title Name Course Date Ethics in organizations are moral values that direct the way a business does. Behaving morally comprises differentiating between right and incorrect and then getting the correct choice. In a corporation, it is comfortable to recognize unethical business practices. Corporations engaging in corruption and bribery are unlawful. When a corporation engages in immoral conduct, various means exist, in bringing social pressure on them and this includes boycotting, petitions, campaigns, etc. The corporation is to establish a viable return for its investors and trade with its staff justly. Corporate ensure that they downplay the damage on the environment and working to safeguard the surrounding communities be incorporating social …show more content…

Profit motivated theories hold that corporate social obligation is to increase stockholder value. Power motivated theories perceive that since corporations enjoy social power in society, they induce to be responsible to society. Socially motivated theories say that since the existence, continuity and growth of business depend on society, business must consider and fulfil social demands. Ethical motivated corporate social responsibility theories concentrate on ethical principles that determine the link between business and society. Even when a company has a morally based corporate culture and structure, the success of these are depended upon the managers and employees because corporations are moral agents; however, individuals are the real constitutive elements of corporations because only individuals can act and corporations cannot act. Most company suggested that we need more powerful individual centered corporate social responsibility theories rather than corporate centered social responsible theories. And corporate social responsibility is more the matter of both corporate ethical culture and structure and individual responsibility of managers and employees because individuals are the real decision makers of corporations in conflicting situations. Therefore personal integrity managers and employees have the relevant space in corporate social responsibility theories along with moral corporate culture and

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Study Guide • Benefits – Ethical principle of doing good and acting in the best interest of patients. Example: Physician recommending the best treatment for a patient to improve their health. Code of ethics- Guidelines and principles that govern the conduct and behavior of professionals. Example:

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Like any society, corporate capitalistic societies have a culture that defines them, influenced by others within that organization. The aspect of ethics is vital in putting in to relation how ethical corporations are. It’s hard to measure ethics, however, if the individual/organization believes they were doing the right thing. The pressures of maximizing profit also push some corporations into being unethical and taking advantage of the type of power and influence they hold. This unethical behavior is not illegal though.

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In this article, the author Milton Friedman advocated the only thing that the business should do is to gain great profit for the shareholders and the companies. Only the individual should have social responsibilities, not organization. Social responsibility is based on the idea that business operations must meet the requirements of sustainable development. It can establish good relations between enterprises, improve business efficiency, and also increase profits. Therefore, for many companies, they all involved in.

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Organizations have started incorporating corporate social responsibility into their policies. Innovation is needed in order to integrate corporate social responsibility and ethics into company policies (Torres, 2015). Both society and the business benefit from the incorporation of ethics in the operation of the organization. Companies tend to have more social responsibility when ethical codes are put into place. Organizations are now beginning to remove themselves from situations that may present a corporate social responsibility issue (Greenhouse, 2013).

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Davis (as cited by Khalidah, Zulkufly, & Lau, 2014) defined Corporate Social Responsibility (CSR) as “… the firm’s consideration of, and response to, issues beyond the narrow economic, technical, and legal requirements of the firm. It is the firm’s obligation to evaluate in its decision-making processes the effects of its decisions on the external social system in a manner that will accomplish social benefits along with the traditional economic gains, which the firm seeks. It means that social responsibility begins where the law ends. A firm is not being socially responsible if it merely complies with the minimum requirements of the law, because this is what any good citizen would do.” A firm will not survive without the support of both the stakeholders and shareholders, thus the CSR proposes the indication which stats that a firm can never exist In a vacuum (Khalidah et.

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1. Introduction – ethics – what are they? Ethics (or moral philosophy) is the kind of philosophy that define concept of right or wrong conduct. In practice, ethics try to resolve questions of human morality, by explaining concepts of good and evil. Ethics, culture, morals – are bind together, they are embedded.

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In order to maintain ethics, many company develop corporate ethics programs to prevent unlawful conduct by conducting detection and control with penalties for wrongdoers. However, employees may rebel against the ethics programs if the programs are designed without their participation and unrealistic. On the contrary, the strategy based on integrity and self-governance is more effective when dealing with ethics. When undertaking integrity initiatives, some companies focused on the core values of integrity of social obligation and aspiration, while other companies intend to implement behavior and attitude. For example, some companies are to be honesty, respect the rights of

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Figure 1: Ethical decision making. Source: (Vucaj, 2014) Introduction Ethics in general is about how we behave, encounter and treat one another. Without ethical principles applied in our world, injustice might take place.

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The question of ethics appears during all our life. Most of the time ethical-decision moments makes us feel lost and struggle over the question is it right or wrong decision. Turning to corporate ethics almost each company could be faced with organizational ethics issues. The purpose of this paper is to examine organizational culture, ethics, values, and styles of the Starwood and Hilton Worldwide corporations.

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Ethics are the principles and values an individual uses to govern his or her activities and decisions. In an organization, a code of ethics is a set of principles that guide the organization’s programs, policies, and decisions. The ethical codes an organization uses to conduct business can affect the reputation, productivity of employees, and the culture around the company. Consumers and employees also like to work for and support organizations that are in line with their own code of ethics. There are two different way to approach ethics.

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The corporate citizenship theory This theory argues that corporations are responsible and liable to help solving the social problems in their society. Furthermore, it argues that business owe a duty to promote and develop their society same as individuals, this duty arises from the social power granted by the society to business, so that corporations should use this power in doing good for their society (Matten & Crane, 2003). The corporate citizenship theory rest on three key dimensions, those are the legal, ethical and philanthropic responsibility.

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1.0 Introduction Business ethics refers to what is right and wrong, good and bad, harmful and beneficial regarding decisions and actions in organizational transactions (Weiss, 2009). So how to identify the unethical business practices? It is very easily. For example, which are company use child labor, produce tainted products, false advertising, infringement, polluted environment and etc.

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An Ethical Dilemma Name: Date: An Ethical dilemma Introduction The capability to recognize and tackle business ethics matters is significant for the decision-making process and the success of a company. According to Ferrell and Fraedrich (2016), business ethics encompasses organizational values and culture that guide individual and group behavior in a business. With proper business ethics, sound decisions and judgements are made concerning the welfare of workers and the overall growth of the company.

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It emphasizes the recognition of the ethical dimension in the organization and its environment. As such, they propose that there is a need for this ethical dimension to be managed alongside and integrated with other areas of management, such as, time management, human resource management, financial management and organizational design. According to the Public Service Commission, this organizational ethics management involves: • Awareness of the ethical of an organization and the context, with which it interacts, and which also impacts on the organization; • Behaviour or actions of individuals and groups, as well as the way organizational and social systems function; • Developing sensitivity to the fact that everyday business practice implies decisions and actions motivated by certain moral values; • Developing sensitivity to the obligation to be held for our moral values; • The ability to distinguish right from wrong by carefully taking the interests of all and everything involved into account; • The commitment to do what is right and to protest any action or decision that might lead to wrongdoing, or in itself is morally unacceptable; • Regular revisiting of standards of organizational ethics; • Regular accounting and auditing of and reporting on the management of ethics in the organization and the interaction with the social and natural

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The earlier opinion stated that a business cannot be ethical, but this opinion is not used anymore in the modern business. Today business has belief that they must be responsible for social since they live and operate within a social structure. The key factors that make business ethics is important at the quarter of the 20th century are corporate social responsibility, corporate governance, and globalized economy. The culture of an organization, or else we can call it as the philosophy of an organization which is related with ethics have a great relationship with the performance of a business in long and short term. As a business is manage by human being, the people who manage a business

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