(Doc) Business Ethics Assignment Sample
Added on 2021-04-17
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qwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnBusiness Ethics Assignment (Level5)Ethical Consultancy Report(Student Details: )
Business Ethics Assignment (Level 5)IntroductionEthics are the norms, and the values which an individual upholds. Ethics govern the behaviourand decisions of the people, influenced by values and morals of the individual. It is expected forthe individuals to behave in an ethical manner. Ethics also form a major part of any businessentity (Chan, 2015). Any organization which follows ethics is able to create a positive image inthe eyes of its stakeholders, which brings laurels for the company, in turn translating into profitsand growth for the company. The reason for undertaking ethical behaviour by the entities is tomake ethical decisions when the entities are faced with situations surrounding ethical dilemma(Noddings, 2013). So, where the companies are required to chose between two such optionswhich are different from each other, but where none of these are correct, results in ethicaldilemma. Ethics stem from the virtues of integrity and trust, especially in complex situationssurrounding diversity, compliances and governance. There is a need to uphold the ethicaltheories, which guide the actions of the entities (Dewey, 2016). This discussion is focused on highlighting the ethical theories, particularly one of each in contextof consequentialism and non- consequentialism. The former would cover details of utilitarianismand the latter would discuss deontological ethics. This would be followed by a discussion onsignificance of corporate governance, and how a giant like Tesco follows it. Lastly, the conceptof stakeholders and two of the stakeholder groups would be elucidated upon. Part 1Normative ethical theories represent the systematic attempts for explaining and describing theethical or moral phenomena. It is a branch which studies ethical action; and investigates the set(Student Number)Page 2
Business Ethics Assignment (Level 5)of questions which are raised when one considers the manner in which they act, in terms ofmoral values. The normative ethical theories make it possible to isolate the tripartite structurewhich is formed of moral standard, general moral principles, and the specific moral judgmentsand principles. There are disagreements on the matter which give the disposition, action or rule,its exact ethical force (Shaw, 2013). The applicability of normative ethical theories helps indeciding the morality of the action, in terms of it being ethical or not. It also acts as guidance onhow to proceed on any matter in an ethical manner. There are certain normative theories whichfocus on the end results and are thus referred to as the consequentialism theories, for instanceegoism and utilitarianism. On the other hand, there are other normative theories which focus onthe course of action adopted to undertake any task and are thus referred to as non-consequentialism theories, for instance the deontological ethics or Kantism, or that given byLocke or Rawls. The consequentialism theories look at the end result, which is attained from being indulged inany action. So, the focus is not on the course of action which is adopted by the parties for gettingon a decision; and is instead focused on the impact of such decision of people for holding theundertaken action as unethical or ethical (Ferrell, Fraedrich and Ferrell, 2016). A leadingconsequentialism theory is utilitarianism, which is often used in cases of ethical dilemma.Through the use of utilitarianism theory, an action can be decided as being ethical or unethical,on the basis of results of such act. The action would be considered as ethical when it results inthe utility of such action being maximized; and a converse situation would result in the actionbeing deemed as unethical (Bykvist, 2010).This theory is considered as a sum of all pleasures which are attained from being indulged in anyact, particularly where the sufferings are eliminated upon undertaking such action. Hence, this(Student Number)Page 3
Business Ethics Assignment (Level 5)theory has its concentration on the end results of the actions and these decide the action beingrighteous or not (Mill, 2017). The crux is that an act where the happiness of majority ismaximized, based on the result of such action, would be deemed as ethical (Albee, 2014). Interms of the acts which are done by Tesco, the series of profit warnings and an accountingscandal in the previous two years, show that the utility of the action for majority were minimized(Farrell, 2016). This is particularly because this led to the interests of different stakeholdergroups being hampered. The non-consequentialism theories look at the actions which are undertaken by any person anddecide the morality of action based on this only, instead of looking at the results of such action.So, the actions which an individual indulges in, in order to get to a particular stage, areconsidered for deciding if an action is ethical or unethical. One of the leading non-consequentialism theories, which have its focus on the course of action adopted by an individual,is the deontological ethics. Immanuel Kant brought out deontological ethics and focused on the course of actions. He statedthat an individual was required to treat other people in a manner, which they want to be treated(Corrigan and Farerell, 2010). Deontological ethics provide that for judging a person, to havebeen indulged in ethical or unethical act, the morality of actions have to be analysed, along withthe actions undertaken by the person. This is, at times, also defined as being the duty, obligationor rule which is based on ethics. This is due to the fact that these rules bind or restrict the personto the duty owed by such person (Naaman-Zauderer, 2010). So, the deontological ethics arefocused on actions being given preference over the results which a person gets from adoptingcertain actions. This theory opposes the theme set by utilitarian view and focuses on theundertaken actions instead of its results (Mizzon, 2009). Again, in terms of deontological ethics,(Student Number)Page 4
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