Unit 45 Business Ethics Assignment

Added on - 12 Nov 2019

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Running head: BUSINESS ETHICSBusiness EthicsName of the Student:Name of the University:Author note:
1BUSINESS ETHICSTable of Contents1.Introduction.....................................................................................................................................................32.Section 1..........................................................................................................................................................32.1. Ethical perspectives in Business.......................................................................................................................42.1.1. The background and development of theoretical ethical approaches........................................................42.1.2. Comparison between absolute and relative theories.................................................................................42.1.3. The ethical issues which can affect any business’s operational activities.................................................53.Section 2..........................................................................................................................................................53.1. Understanding business objectives from an ethical perspective.......................................................................53.1.1. Explanation of how Subway’s objectives are affected by ethical considerations.....................................63.1.2. Evaluation of implications of Subway and its stakeholders to operate ethically......................................64.Section 3..........................................................................................................................................................74.1. Understanding ethics in workplace relationships..............................................................................................74.1.1. Assessment of the role of Subway acting as a moral agent.......................................................................74.1.2. Employee involvement and empowerment...............................................................................................85.Section 4..........................................................................................................................................................85.1. Assessing a current ethical issue in a business..................................................................................................85.1.1. Current ethical issue affecting the Subway’s business..............................................................................95.1.2. Improving the ethics of Subway whilst meeting objectives and good employee relationships................95.1.3. Designing a suitable ethical code............................................................................................................106.Conclusion.....................................................................................................................................................107.References.....................................................................................................................................................12
2BUSINESS ETHICS1.IntroductionBusiness ethics, also called corporate ethics, is referred to a type of professional ethics or applied ethicswhich examines the ethical or moral principles and problems that occurs in the business environment. Itgenerally applies to all sorts of business conduct aspects and relevant to the individuals conduct as well as theentire organization. These corporate ethics originate from the individuals, legal system or from the statements ofthe organization. It refers to the contemporary standards of the organization, its principles, norms and set ofvalues which govern the behavior and actions of a person in the organization (Abend 2014).The report throws light on the business ethics’ concept and its relevance with business objectives andresponsibilities. Business ethics have descriptive and normative dimensions. As career specialization andcorporate practice, the field tends to be normative. Academics employ methods which are descriptive, in orderto understand the behavior of the business. The quantity and range of the ethical issues basically reflects thepoint of interaction between non economic concerns with profit maximizing behavior (Audi 2012).The report highlights the development and background of theoretical ethical approaches of anorganization I worked for, comparison between absolute and relative ethics, ethical issues which can affect theoperational activities of a business, implications for a business and its stakeholders to operate ethically and therole of a company as a moral agent. Further it includes; the employees’ involvement and empowerment, theethical issues that are affecting the business and the design of a suitable ethical code.2.Section 1Business ethics refers to the study of any situations, decisions and activities related to a business, where the rightand wrong issues are addressed. A business man should make promises of not harming any individual at theworkplace, knowingly (Bardy, Drew and Kennedy 2012). It’s been one year I have been working at Subway andI really enjoy working. I am the assistant manager of the company. I have learned so much about the company’sworking procedure, policies, ethics and many more. The working environment is extremely nice, with good coworkers. The shift timing is good along with overtime pay. Working there has helped me a lot in gaining anunderstanding about workplace policies and ethics, which I am going to discuss in this report.
3BUSINESS ETHICS2.1. Ethical perspectives in BusinessBusiness ethics can be referred to as a code of conduct. It gives a brief idea of what is good and what isnot good for the society’s welfare. All the business organizations are expected to follow these ethics for itsbenefits (Barry 2016).2.1.1. The development and background of theoretical ethical approachesDeontology Theory:This theory states that the outcome of actions is not much important, but the thingthat matters is actions, which needs to be justified morally. It mainly emphasizes on the relation betweenmorality and the duty of human beings actions. The word has been derived from a Greek word “Deon” whichmeans “duty”, and “logos” meaning “science” (Becker 2012). For instance, drinking and driving is ethically notcorrect, but if an individual argues over this specific point, then on that basis, they are accountable towards laws,as they did wrong actions and broke moral principles. The deontological theory was first developed by theorist,Immanuel Kant, while taking his own decisions. It is important for us to follow our duties and responsibilitiesproperly. The actions are taken on the basis of ethics and moral principles. Therefore, business personnel mustunderstand their duties and responsibilities in order to treat the employees nicely and correctly (Dierksmeier2013).Technological Theory:The focus of technological theory is on the consequences of the actions whichproduces the adequate results. The theory also suggests about decisions framework which develops the requiredconsequences in order to manage the actions carefully (Becker 2012).Consequentiality Theory:It relies upon determining how the moral actions of a person affect othersand what its consequences are. The results of the consequences may result into something good or even bad, thatis, they can either have favorable impact or be damaging (Brenkert and Beauchamp 2012).Example:The Subway Company has adopted these theories in order to build their trust on thecustomers. They emphasize on morality and trust in order to build a strong customer base. Informationtechnology is used to enhance their franchising system as well as adopting a quality monitoring for thefranchisees. They have used social networking channels in an adequate manner in order to promote their uniqueproduct and service offerings to their customers.2.1.2. Comparison between absolute and relative theoriesGenerally, ethical theories have two approaches, that is, the approach on the basis of an individual’srelationship as well as their character and the other one is the approach which is based on the principles. The
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