Reflective Journal on Business Ethics

RUNNING HEAD: REFELECTIVE JOURNAL 0
REFLECTIVE JOURNAL ON
BUSINESS ETHICS
Student’s Details-
OCTOBER 8, 2019

REFLECTIVE JOURNAL 1
Individual Learning
During the time when I was given ‘Business ethics’ as the unit to study in this semester, I had
gained many learning outcomes that helped me in my personal and professional life. After I had
finished the unit study, I have found out that ethics are crucial for the personal life and business
ethics play an important role at the workplace as well. Moreover, business ethics are regarded as
the moral principles or the duty of the business to act in a certain way (Eisenbeiss, et al.,
2015). Also, business ethics gives us the clear idea about what is right and what is wrong within
the business. In some cases, business ethics are seen as the moral values of the ethical obligation
of the business. Further, business ethics are regarded the professional ethics that is needed to be
followed by the organization and are particularly complimented by the polices and guidelines
that the members within the organization have to adhere with (Rabi, et al., 2018).
In week 1, I had learned about ethics pertaining to business. At that time, I was introduced with
the unit through the chapter 1 where I learned how ethics can help me in maintaining the moral
values and also, I had learnt that ethics are crucial for the workplace as well. Further. in the week
2, I had learnt about the ethical theories and understood that ethics are crucial to solve the
conflicts and promoting the well-being of society and individual being concerned. Moreover,
utilitarian theory of business ethics explains that the decisions taken into the workplace must be
equal and must promote the maximum benefit of a large audience (Shaw, 2016). Also, duty
theory of ethics explains that it is the moral duty of everyone to act in an ethical way whether it
is personal or professional life. Further in week 3, I gained the learning with respect to nature of
capitalism and the economic system of Australia. I have also learned the various criticism of
capitalism economy. In the later chapter 4 that I studied in week 4, I had learnt the concept of
social responsibility and governance and gained a clear understanding that corporate governance
is crucial for the business as it lies down the policies and guidelines for the company. Moreover,
corporate social responsibility is the obligation of the business towards the society and ensures
that it places a positive impact upon the society (Mazutis & Slawinski, 2015). Governance
relates to the monitoring of the activities and sustainability of business (Luppicini & So, 2016).

REFLECTIVE JOURNAL 2
(Scanned notes of Ethical Theories)
Further, in week 5, I had attained the learning of being moral in terms of production of products.
Moreover, it is the moral obligation of every organization to produce high quality products and
ensuring the higher safety of the consumers and workers within the workplace (Vaughn, 2015).
Later I learned about the concepts of internationalization and globalization in the 6 chapter that I
studied in week 6. At the end of this week I had learnt that the organizations must globalize their
products by fulfilling their duty towards the society and turning into the foreign operations for
the increased revenue. Furthermore, at the end of the 7th week, I had learnt the importance of
environmentally sustainable business. However, the business has moral obligation towards the
environmental factors and also the business is expected to promote environmental protection and