Importance of Ethics in Business Operations
Added on 2020-04-07
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BUSINESS ETHICS 1BUSINESS ETHICSNameCourseProfessor’s Name UniversityCity (State)DateAbstract
BUSINESS ETHICS 2I have been employed by Prime Air Conditioning Industries LLC, which is a multinational manufacturing company, as the ethics advisor for the company. It is a company whose products are used in air conditioning, ventilation, and heating. It is highly innovative and produces quality products. The company wants to know about different ethical issues and has organized a training session for all senior staff members in the enterprise. The purpose of this training is to inform them of ethical issues that the firm may experience to ensure they are aware of how to conduct themselves in such situations. As the ethics officer, my jobis to prepare a report on different ethical issues. This report contains the theoretical background of business ethics as well as illustrations of ethical and the unethical problems that have affected various businesses. It also informs the senior managers how they should empower other employees and increase their involvement in company matters.
BUSINESS ETHICS 3Business EthicsPart OneTheoretical Approach to Business EthicsBusiness ethics refers to the principles that are followed by people running a business. The fundamental reason for the formation of Prime Air Conditioning LLC is to makeprofits. However, as it carries out this objective, it should be mindful of all the stakeholders that are affected by the business operations (guide2dubai 2017). These include the customers, employees, investors, the community, suppliers, and shareholders (Cline 2017). Different theoretical concepts have been created about business ethics. A philosopher named Kant came up with a deontological approach towards ethics. This is also called duty based ethics. This approach aims to evaluate the motive leading to different actions in a bid to determine whether they are right or not. This approach does not focus on the results of the individual actions (Emelda 2011). However, it focuses on people’s obligation towards others and the environment based on morality. Therefore, regardless of how many people may benefit from a given action, the action should be not undertaken as long as it is unethical. Another approach is the teleological approach. It determines the moral standard of an action based on the consequences One theory in this category is the utilitarianism theory, associated with John Stuart and Jeremy Bentham. It is also referred to as result-oriented ethics. This argument relies on the principle that the end justifies the means. It mainly observes past experiences to predict the future better. This approach, therefore, allows for organizations to be unethical so long as the results of their activities will benefit the most stakeholders (Hunt & Vitell 1986).There is yet another ethical system called virtual ethics. This system pays more attention to how to aid people to develop character traits that are positive as opposed to giving directions on which rules should be followed. In turn, the positive character traits enable individuals to make the right decisions. There is also need for individuals to get rid of their negative habits(vices) and develop new positive ones (Cline 2017). Absolute and Relative EthicsAbsolute ethics refer to the moral practices that are universal and unchanging. They are objective and apply to all people equally regardless of changing situations. Relative ethics, on the other hand, refer to moral principles that can change with a change in circumstances. This type of ethics is subjective and depends on personal opinions and bias. Relativistic ethics is mainly seen due to religious and cultural differences (Donaldson 1996). Different business activities rely on absolute ethics and others on relative ethics. Incidentally, forced labor is not allowed anywhere in the world in this day and age. Child labor, on the other hand, is accepted in some locations such as some developing countries, and highly discouraged in others.Ethical Issues that could affect Business Operations in Prime Air ConditioningIndustries LLC.
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