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Significance of Business Ethics - Doc

   

Added on  2020-10-22

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BUSINESS ETHICS
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Table of ContentsINTRODUCTION...........................................................................................................................1TASK...............................................................................................................................................1Identification and evaluation of the most relevant normative and descriptive business ethicstheory ..........................................................................................................................................1Significance of business ethics at an academic level and its managerial implications................3CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9
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INTRODUCTIONBusiness ethics is also known as the corporate ethics. It is a form of applied ethics orprofessional ethics. Generally it refers to the system of a good and bad, moral and immoral, fairand unfair. It is based on a code of conduct where the alignment of behaviour and the socialframework is done within the organization. Burberry is a British luxury fashion house and it isfamous for fashion accessories, sunglasses, cosmetics etc. Their brand is very famous worldwideas they developed the fabric called Gabardine which is completely breathable, waterproof andalso produce other fashion accessories which are unique. This report shows the Burberry EthicalCode of Conduct which have various ethical practices, rules and principles which help them tocreate their good image in the market. This report also explains the significance of businessethics at an education level and its managerial conclusion. It also includes the identification andevaluation of normative and descriptive theories of business ethics.TASKIdentification and evaluation of the most relevant normative and descriptive business ethicstheory Business ethics is related to individual’s moral judgement about the right and the wrong.Decisions which are been made in the Burberry is taken by individuals or the groups butwhoever implements them will be influenced by the culture of the company. Ethical behaviourand corporate social responsibility can bring out the most benefit to the business. The variousbenefit that corporate social responsibility can give to Burberry that ethical behaviour attracts thehuge amount of consumers to them (Ferrell and Fraedrich, 2015). Behaving in the ethical waycan make the workers want to stay in the organization. Normative theory of business ethicsNormative theory of business ethics is related to the ethical action. This theory is considered tobe the sub-set of philosophical ethics that discusses about how an individual and group in theorganization needs to behave. This theory of ethics can be useful for the Burberry as it can assistthe organization in realising about the wrongful and rightfulness of the acts. It is based on themoral beliefs. Company needs to make sure that there is no discrimination been done in the firmon the basis of attitude, thoughts, values and beliefs. If the firm is involved in doing any type ofunethical behaviour, then it can increase the labour turnover in the firm. Social structure andmotivation can make morality binding in a sense, but only because it makes moral norms feel1
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inescapable, according to Foot. John Stuart Mill adds that external pressures, to please others forinstance, also influence this felt binding force, which he calls human "conscience". Mill says thathumans must first reason about what is moral, then try to bring the feelings of our conscience inline with our reason. Non consequentialist theory of ethicsIt is also one type of normative theory. The Non consequentialist theory of ethics can also beknown as the normative theory. It is a theory that includes whether the act perform by Burberryis right and wrong. This theory describes that the rightness and the wrongness of the act do notdepend on the act or morale of the individual (Crane and Matten, 2016). This theory describesthat Burberry needs to make the most ethical behaviour with the employees, which are totallybased on rules and regulations set up by them. This can assist the organization in retaining theworkers and also behaving ethically can assist them in making the good will in the market.Ethical behaviour can also increase the brand value. It is one of the most important aspect to bein the market. Behaving ethically can also help the Burberry in gaining competitive advantage. Itcan also make the firm ethically better. Also the workers must also behave ethically with anotherpeer or employees. This will also build the bond between them and will also increase the teamwork and collaborative working. It can make the Burberry gain competitive advantage. Strengthand weakness of this theory are the following:StrengthThis theory can assist the employees and management of the organization in self-improvement. It can help them in solving the issues related to the ethics, which has notbeen followed in the firm. It can also help the Burberry in preventing the harm that can be caused when theorganization is involved in unethical behaviour. This can assist the company in growing.WeaknessIt does not consider the values, believes, ethics, morale and norms of the employeesworking in the Burberry. It only is based on the system of the act. This is one of themajor disadvantage. The one of the weakness in the normative theory of ethics is also that, the act which iswrong and which is right is not described. 2
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