Ethics and Business: Theory to Practice

Project 1
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INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
1. STUDY PART 1: ETHICS AND BUSINESS FROM THEORY TO PRACTICE...........3
2. STUDY PARTS 2..............................................................................................................5
PART 2: THE NATURE OF THE CORPORATION...........................................................5
PART 5: CHALLENGES AND EMERGING ISSUES........................................................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................8
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INTRODUCTION
Business Ethics is study of appropriate business practices and policies related to potential
controversial subject that include insider trading, corporate governance, corporate social
responsibility, discrimination and other responsibilities (Munteanu and et. al., 2020). It is
essential for an organisation to conduct those business operations while aiding ethical policies
and procedures. Present report has been conducted on different type of topics that include the
nature of cooperation, work in the corporation and challenges and emerging issues.
MAIN BODY
1. STUDY PART 1: ETHICS AND BUSINESS FROM THEORY TO PRACTICE
Veil of ignorance is mainly defined as a moral reasoning device which is basically
designed to promote and making in impartial manner by denying decision makers access to
potentially biased information about who will least or most benefit from the available options.
The main purpose of veil of ignorance is to effectively explore ideas about equality justice
morality and social status in a structured manager (Johnston and Sheehan, 2020). It has been
identified that behind veil of ignorance no one knows who they are. According to Rawls veil of
ignorance can never be carried out in the literal sense. Furthermore, it has been underline that the
principle of justice are chosen behind a veil of ignorance effectively ensure that no one is
disadvantage or advantaged in the choice of principle by the outcome of natural contingency of
social circumstances. The principles that can be chosen are justice as fairness.
Nozick accepted the idea that individuals have a right to private property and own
themselves. However, he rejects any form of system that try to make sure a particular
distribution of wealth or income, example equal distribution. The main reason behind this is that
he believed such system work with towards interfering with an individual liberty. However it has
been underlined that no seek for the grants that in some circumstances forced redistribution is
permissible. The principles under which forced redistribution is permissible include, as per the
standard of equity and law, at that point the individual concerned is qualified for that holding. In
simple terms, property procured in a lawful and legitimate way will cause under the authority of
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