Business Ethics of Debenhams Plc and WHSmith PLC Assignment
Added on 2021-01-03
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BUSINESS ETHICS
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3Ethical Theories..........................................................................................................................3TASK 2............................................................................................................................................4Development of Business Ethics.................................................................................................4TASK 3............................................................................................................................................4Facts and Stakeholders................................................................................................................4TASK 4............................................................................................................................................5Possible Alternatives...................................................................................................................5TASK 5............................................................................................................................................6Application of Theory.................................................................................................................6TASK 6............................................................................................................................................7Recommended course of action..................................................................................................7CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8
INTRODUCTIONBusiness Ethics refer to all those moral scenarios of the business which requiresapplication of organisation's ethical principles to comply its operations with the values of thecompany (Crane and Matten, 2016). The report below is based on Debenhams Plc and WHSmithPlc and covers ethical theories and business scenarios where these theories could beimplemented along with certain alternative courses of actions. TASK 1Ethical TheoriesThe theory which is relevant for the business organisations of Debenhams Plc andWHSmith PLC would be Utilitarian or Consequence-based Theory. This theory was wasdeveloped in 18th and 19th century by David Hume and other individuals like Jeremy Benthamand John Stuart. This theory suggest that actions in an organisation must be judged based on itsutility. This means that the chosen action must be the one that provides maximum benefit,happiness and utility to maximum number of persons of the organisations.This theory is most appropriate for both the organisation because it undertakes as it couldbe used for various purposes. It is because this could be used for rational decision-making aswell as moral reasoning. It can be used on an individual level (employees) as well as for a widercommunity (organisation). The idea is to provide maximum benefit to maximum number ofpeople (Act and Rule Utilitarianism, 2018).This theory is ineffective where these organisations are concerned as this theory ignoresthe concept of justice and it only focuses on providing utility to maximum number of individuals.Moreover, this theory is based on consequences which are largely unknown. Thus, accuratecalculations are almost impossible in this theory, hence, making it ineffective.TASK 2Development of Business EthicsEthical theories are necessary for companies to follow in order to ensure moral workingof the organisation. There are various issues in these business where the companies could ensureapplication of these theories. These issues are described below:
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