Business Ethics

What is Business Ethics?

Business ethics is the behavior that a business adheres to in its daily dealings with the world. The ethics of a particular business can be diverse. They apply not only to how the business interacts with the world at large, but also to their one-on-one dealings with a single customer. Many businesses have gained a bad reputation just by being in business. To some people, businesses are interested in making money, and that is the bottom line. It could be called capitalism in its purest form. Making money is not wrong in itself. It is the manner in which some businesses conduct themselves that brings up the question of ethical behavior. Good business ethics should be a part of every business. There are many factors to consider. When a company does business with another that is considered unethical, does this make the first company unethical by association? Some people would say yes, the first business has a responsibility and it is now a link in the chain of unethical businesses. Business Ethics and Social Responsibility  The competitive nature of the society we live in today has created a culture of cheating. Because ethics are based on individual beliefs and social concepts, they vary among individuals, situations and cultures. Having grown up as an only child of parents who lived through The Great Depression; who lived by the law of God and not by the laws of the land; I learned early about how people and businesses were SUPPOSED to behave. My upbringing shaped my beliefs. In the 1930’s The Great Depression was blamed on a climate of business greed and lack of restraint. Out of this economic turmoil new laws emerged formalizing the concept of accountability. The recent unethical issues with big and other businesses such as Enron and the Burney Madoff’s and the Sanford Group have reinforced what I believe all business should be about; honest and socially responsible. Businesses are stealing from the very people who make it possible for them to exist. Company Practices and Business Ethics – Two of the most common approaches to bring management together on the same accord businesses are adopting written codes and instituting ethics programs. There should be more internal oversight of these policies and programs. I have to believe there was some type code of conduct for the Enron crew. So what happened? I think we know. Top management was leading the way. Throughout the history of business there has always been a problem with greed and utter lack of responsibility to the people of this country. It is the little guy who suffers most. Target and Walmart are two of the businesses in the 80’s and 90’that operated in socially responsible ways. Both have policies about the sales of weapons, they don’t. I have to agree with this policy I believe it has indirectly saved many lives. Walmart however has fallen short in other ways. They have not treated employees fairly and more recently they are in the news regarding their advertising claiming to have the lowest prices. This claim is being challenged by Costco. Walmart is on notice and are taking steps to address this issue and have promised to make the necessary changes to their advertising. It takes money to make the world go round, true but it does not substitute for ethical behavior. Just because a company contributes dollars to a cause does not mean all else they do that is wrong should be overlooked. According to the text, one key to business success is to decide in advance how to respond to the issues that underlie all questions of ethical and social responsibility. I recall the class discussion regarding are there any grey areas. I have since considered that and have come up with the same answer. I do not believe there are grey areas. I strongly believe in a sixth sense, the following one’s first mind regarding every situation. First mind is always the right way for me. We all have a compass that guides us and our behavior. We do know what’s right or wrong or ethical. The problem lies in our denial and lack of acceptance of the fact that we are not doing the right thing, the importance of doing the right thing. I have heard people say well I did it because everyone else did it…they didn’t have a problem with it.