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Ethical Practices in Business Assignment (pdf)

   

Added on  2021-06-16

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Running head: ETHICAL PRACTICES IN BUSINESS 1Ethical Practices in BusinessStudent’s NameInstitutional Affiliation

Ethical Practices in Business 2Ethical Practices in BusinessEthics generally refers to a system of moral principles which tend to influence individualsin terms of how they make decisions and lead their lives (Dietrich & List, 2017). Some philosophers have, in the course of time, argued that if an individual realizes that it would be considered morally good to do something then it would not make sense for this particular individual not to do it. On the other hand, most individuals do not realize that ethics does not always indicate the right answer to societal issues. It is simply a set of principles that are applicable to specific cases to provide clear alternatives to those involved. Most people anticipatefor a single right answer to ethical questions (Borgmann, 2011). This is perhaps because they tend to find moral ambiguity rather hard to live with given that they sincerely want to do the ‘right’ thing. They also find it hard because it forces them to be accountable for their own choices and behaviors, rather than falling back on fitting customs and rules (Ci, 2010). Discussion The meaning of an ethical issueIn today’s complicated global business setting, organizations of every size are faced with numerous ethical issues. Businesses now have the responsibility to design codes of ethics and conduct that every individual within the organization must adhere to and put into action (Aldestein & Clegg, 2016). Ethical issues in business may incorporate accommodation of diversity, empathetic decision making, promotion of conduct based on honesty that prompts trust, and governance and compliance that is consistent with an organization’s main values. Notably, when customers believe that a firm is demonstrating an unwavering loyalty to ethical business practices, it usually leads to the development of a high level of trust between the business and the individuals it seeks to serve (Stefanidis, 2014). Moreover, both current and

Ethical Practices in Business 3potential workers are considered to be a diverse pool of individuals deserving respect of their differences when choosing to work at a given business. Where decision making issues are concerned, the ethical decision making process should focus on safeguarding worker and customer rights, ensuring that individual beliefs and values of employees are safeguarded, safeguarding the common good, and ensuring that all business functions are just and fair (Abimbola & Abimbola, 2010). On the other hand, international businesses are expected to totally adhere to the fiscal and monetary reporting statutes, all applicable civil rights laws, state and federal safety regulations, and environmental laws.The ethical issue in the case scenario The case scenario presented is regarding Biotech Health and Life Products (Biotech) company, and revolves around its head of Packaging and Distribution, Josh. As indicated, most of the workers at the organization are unskilled and make minimum wage (Abdelzaher & Abdelzaher, 2017). While researching about unskilled labor in other nations, Josh discovered that countries like Germany raised their minimum hourly wage by 4%. Furthermore, the distribution cost between North America and Europe has recently risen considerably (Aakhus & Bzdak, 2012). An opportunity for Josh to relocate the organization to Iceland has presented itselfand he believes that he will be creating employment opportunities once relocated. Additionally, relocation would mean the elimination of the need to ship long distance hauls, thus reduction of transportation and distribution costs.One non-ethical issue in the case scenario and why it is soA non-ethical issue is any issue considered to be far from what is ethically appropriate or acceptable. During his research, Josh discovered that he could actually improve the salary rate byhiring younger individuals aged between 15 and 18 years, capable of working up to 40hours on a

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